DELPHI AUTOMOTIVE PLC, 10-K filed on 2/10/2014
Annual Report
Document And Entity Information (USD $)
12 Months Ended
Dec. 31, 2013
Jan. 31, 2014
Jun. 30, 2013
Document And Entity Information [Abstract]
 
 
 
Document Type
10-K 
 
 
Amendment Flag
false 
 
 
Document Period End Date
Dec. 31, 2013 
 
 
Document Fiscal Period Focus
FY 
 
 
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
 
306,389,149 
 
Entity Well-known Seasoned Issuer
Yes 
 
 
Entity Voluntary Filers
No 
 
 
Entity Current Reporting Status
Yes 
 
 
Entity Public Float
 
 
$ 15,623,292,731 
Consolidated Statements Of Operations (USD $)
In Millions, except Per Share data, unless otherwise specified
3 Months Ended 12 Months Ended
Mar. 31, 2014
Dec. 31, 2013
Sep. 30, 2013
Jun. 30, 2013
Mar. 31, 2013
Dec. 31, 2012
Sep. 30, 2012
Jun. 30, 2012
Mar. 31, 2012
Dec. 31, 2014
Dec. 31, 2013
Dec. 31, 2012
Dec. 31, 2011
Income Statement [Abstract]
 
 
 
 
 
 
 
 
 
 
 
 
 
Net sales
 
$ 4,182 
$ 4,017 
$ 4,240 
$ 4,024 
$ 3,767 
$ 3,663 
$ 3,997 
$ 4,092 
 
$ 16,463 
$ 15,519 
$ 16,041 1
Operating expenses:
 
 
 
 
 
 
 
 
 
 
 
 
 
Cost of sales
 
3,426 
3,338 
3,464 
3,339 
3,158 2
3,058 2
3,272 2
3,373 2
 
13,567 
12,861 2
13,386 
Selling, general and administrative
 
 
 
 
 
 
 
 
 
 
963 
927 
901 
Amortization
 
 
 
 
 
 
 
 
 
 
104 
84 
79 
Restructuring
 
 
 
 
 
154 
 
 
 
 
145 
171 
31 
Total operating expenses
 
 
 
 
 
 
 
 
 
 
14,779 
14,043 
14,397 
Operating income
 
417 
387 
483 
397 
177 
367 
468 
464 
 
1,684 3
1,476 4
1,644 5
Interest expense
 
 
 
 
 
 
 
 
 
 
(143)
(136)
(123)
Other (expense) income, net
 
 
 
 
 
 
 
 
 
 
(18)
5 
(15)
Income before income taxes and equity income
 
 
 
 
 
 
 
 
 
 
1,523 
1,345 
1,506 
Income tax expense
 
 
 
 
 
 
 
 
 
 
(256)
(212)
(305)
Income before equity income
 
 
 
 
 
 
 
 
 
 
1,267 
1,133 
1,201 
Equity income, net of tax
 
 
 
 
 
 
 
 
 
 
34 
27 
22 
Net income
 
321 6
293 6
389 6
298 6
155 
292 
350 
363 
 
1,301 6
1,160 
1,223 
Net income attributable to noncontrolling interest
 
 
 
 
 
 
 
 
 
 
89 
83 
78 
Net income attributable to Delphi
 
$ 298 
$ 271 
$ 367 
$ 276 
$ 136 
$ 269 
$ 330 
$ 342 
 
$ 1,212 
$ 1,077 
$ 1,145 
Basic net income per share:
 
 
 
 
 
 
 
 
 
 
 
 
 
Basic net income per share attributable to Delphi
 
$ 0.97 7
$ 0.88 7
$ 1.18 7
$ 0.88 7
$ 0.43 7
$ 0.84 7
$ 1.01 7
$ 1.04 7
 
$ 3.90 7
$ 3.34 7
$ 2.72 
Weighted average number of basic shares outstanding
 
307.08 
309.68 
311.93 
314.68 
316.80 
320.93 
325.87 
328.24 
 
310.82 
322.94 
421.26 
Diluted net income per share:
 
 
 
 
 
 
 
 
 
 
 
 
 
Diluted net income per share attributable to Delphi
 
$ 0.97 7
$ 0.87 7
$ 1.17 7
$ 0.88 7
$ 0.43 7
$ 0.84 7
$ 1.01 7
$ 1.04 7
 
$ 3.89 7
$ 3.33 7
$ 2.72 
Weighted average number of diluted shares outstanding
 
308.64 
310.62 
312.69 
315.36 
317.34 
321.28 
326.14 
328.47 
 
311.80 
323.29 
421.26 
Cash dividends declared per share
$ 0.25 
$ 0.17 
$ 0.17 
$ 0.17 
$ 0.17 
 
 
 
 
$ 1.00 
$ 0.68 
$ 0 
$ 0 
Consolidated Statements Of Comprehensive Income (USD $)
In Millions, unless otherwise specified
3 Months Ended 12 Months Ended
Dec. 31, 2013
Sep. 30, 2013
Jun. 30, 2013
Mar. 31, 2013
Dec. 31, 2012
Sep. 30, 2012
Jun. 30, 2012
Mar. 31, 2012
Dec. 31, 2013
Dec. 31, 2012
Dec. 31, 2011
Statement of Comprehensive Income [Abstract]
 
 
 
 
 
 
 
 
 
 
 
Net income
$ 321 1
$ 293 1
$ 389 1
$ 298 1
$ 155 
$ 292 
$ 350 
$ 363 
$ 1,301 1
$ 1,160 
$ 1,223 
Other comprehensive income (loss):
 
 
 
 
 
 
 
 
 
 
 
Currency translation adjustments
 
 
 
 
 
 
 
 
49 
60 
(94)
Net change in unrecognized (loss) gain on derivative instruments, net of tax (Note 17)
 
 
 
 
 
 
 
 
(12)
59 
(98)
Employee benefit plans adjustment, net of tax (Note 12)
 
 
 
 
 
 
 
 
(33)
(171)
(77)
Other comprehensive income (loss)
 
 
 
 
 
 
 
 
4 
(52)
(269)
Comprehensive income
 
 
 
 
 
 
 
 
1,305 
1,108 
954 
Comprehensive income attributable to noncontrolling interests
 
 
 
 
 
 
 
 
93 
85 
83 
Comprehensive income attributable to Delphi
 
 
 
 
 
 
 
 
$ 1,212 
$ 1,023 
$ 871 
Consolidated Balance Sheets (USD $)
In Millions, unless otherwise specified
Dec. 31, 2013
Dec. 31, 2012
Current assets:
 
 
Cash and cash equivalents
$ 1,389 
$ 1,105 
Restricted cash
4 
8 
Accounts receivable, net
2,662 
2,425 
Inventories (Note 3)
1,093 
1,066 
Other current assets (Note 4)
604 
623 
Total current assets
5,752 
5,227 
Long-term assets:
 
 
Property, net (Note 6)
3,216 1
2,860 1
Investments in affiliates
234 
231 
Intangible Assets, net (Note 7)
723 
803 
Goodwill (Note 7)
496 
473 
Other long-term assets (Note 4)
626 
582 
Total long-term assets
5,295 
4,949 
Total assets
11,047 
10,176 
Current liabilities:
 
 
Short-term debt (Note 11)
61 
140 
Accounts payable
2,595 
2,278 
Accrued liabilities (Note 8)
1,238 
1,241 
Total current liabilities
3,894 
3,659 
Long-term liabilities:
 
 
Long-term debt (Note 11)
2,351 
2,324 
Pension benefit obligations
959 
929 
Other long-term liabilities (Note 8)
409 
434 
Total long-term liabilities
3,719 
3,687 
Total liabilities
7,613 
7,346 
Commitments and contingencies (Note 13)
   
   
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, 306,389,149 and 315,299,183 issued and outstanding as of December 31, 2013 and December 31, 2012 respectively
3 
3 
Additional paid-in capital
1,699 
1,723 
Retained earnings
1,446 
856 
Accumulated other comprehensive loss
(237)
(237)
Total Delphi shareholders' equity
2,911 
2,345 
Noncontrolling interest
523 
485 
Total shareholders' equity
3,434 
2,830 
Total liabilities and shareholders' equity
$ 11,047 
$ 10,176 
Consolidated Balance Sheets (Parenthetical) (USD $)
Dec. 31, 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
306,389,149 
315,299,183 
Consolidated Statements Of Cash Flows (USD $)
In Millions, unless otherwise specified
12 Months Ended
Dec. 31, 2013
Dec. 31, 2012
Dec. 31, 2011
Cash flows from operating activities:
 
 
 
Net income
$ 1,301 1
$ 1,160 
$ 1,223 
Adjustments to reconcile net income to net cash provided by operating activities:
 
 
 
Depreciation
436 
402 
396 
Amortization
104 
84 
79 
Amortization of deferred issuance costs
11 
17 
10 
Restructuring expense, net of cash paid
(25)
62 
(74)
Deferred income taxes
(50)
(63)
(36)
Pension and other postretirement benefit expenses
82 
67 
70 
Income from equity method investments, net of dividends received
(4)
(1)
(13)
Loss on extinguishment of debt
39 
1 
16 
Gain on sale of assets
(16)
(3)
(12)
Share-based compensation
47 
21 
14 
Changes in operating assets and liabilities:
 
 
 
Accounts receivable, net
(237)
198 
(149)
Inventories
(27)
49 
(64)
Other assets
(36)
(125)
(31)
Accounts payable
254 
(153)
98 
Accrued and other long-term liabilities
47 
(198)
3 
Other, net
(67)
29 
6 
Pension contributions
(109)
(69)
(159)
Net cash provided by operating activities
1,750 
1,478 
1,377 
Cash flows from investing activities:
 
 
 
Capital expenditures
(682)
(705)
(630)
Maturity of time deposits
0 
0 
550 
Proceeds from sale of property / investments
33 
20 
72 
Cost of business and technology acquisitions, net of cash acquired
(10)
(980)
(17)
(Increase) decrease in restricted cash
4 
1 
38 
Loans to related parties
0 
14 
(14)
Acquisition of minority held shares
0 
(16)
0 
Dividends from equity method investments in excess of earnings
0 
37 
0 
Other, net
0 
(2)
(9)
Net cash (used in) provided by investing activities
(655)
(1,631)
(10)
Cash flows from financing activities:
 
 
 
Net repayments under other short-term debt agreements
(80)
(8)
(125)
Repayments under long-term debt agreements
(1,353)
(5)
(1,490)
Proceeds from issuance of senior secured term loans, net of issuance costs
560 
358 
2,385 
Proceeds from issuance of senior notes, net of issuance costs
788 
0 
976 
Repayment of five-year notes
0 
0 
(57)
Dividend payments of consolidated affiliates to minority shareholders
(55)
(47)
(43)
Repurchase of ordinary shares
(457)
(403)
0 
Distributions to Delphi equity holders
0 
0 
(93)
Distribution of cash dividends
(211)
0 
0 
Taxes withheld and paid on employees' restricted share awards
(14)
0 
0 
Redemption of membership interests
0 
0 
(4,747)
Net cash used in financing activities
(822)
(105)
(3,194)
Effect of exchange rate fluctuations on cash and cash equivalents
11 
0 
(29)
Increase (decrease) in cash and cash equivalents
284 
(258)
(1,856)
Cash and cash equivalents at beginning of period
1,105 
1,363 
3,219 
Cash and cash equivalents at end of period
$ 1,389 
$ 1,105 
$ 1,363 
Consolidated Statement Of Shareholders' Equity (USD $)
In Millions, except Share data
Total
Ordinary Shares[Member]
Additional Paid-In Capital [Member]
Retained Earnings [Member]
Membership Interest [Member]
Membership Interest [Member]
Class A [Member]
Membership Interest [Member]
Class B [Member]
Membership Interest [Member]
Class C [Member]
Membership Interest [Member]
Class E-1 [Member]
Accumulated Other Comprehensive Income (Loss) [Member]
Total Delphi Shareholders' Equity [Member]
Noncontrolling Interest [Member]
Balance at Dec. 31, 2010
$ 6,099 
$ 0 
$ 0 
$ 0 
$ 5,550 
$ 2,083 
$ 2,816 
$ 646 
$ 5 
$ 91 
$ 5,641 
$ 458 
Balance, shares at Dec. 31, 2010
 
0 
 
 
 
 
 
 
 
 
 
 
Net income
1,223 
 
 
110 
1,035 
76 
930 
25 
4 
 
1,145 
78 
Other comprehensive income (loss)
(269)
 
 
 
 
 
 
 
 
(274)
(274)
5 
Dividends on membership interests
(93)
 
 
 
(93)
 
(92)
 
(1)
 
(93)
0 
Dividend payments of consolidated affiliates to minority shareholders
(51)
 
 
 
 
 
 
 
 
 
 
(51)
Restricted interests recognized
7 
 
 
 
7 
 
 
 
7 
 
7 
 
Acquisition of minority interest
(5)
 
 
 
2 
1 
1 
 
 
 
2 
(7)
Redemption of membership interest
(4,747)
 
 
 
(4,747)
(2,160)
(1,911)
(671)
(5)
 
(4,747)
 
Equity conversion-November
 
3 
1,751 
 
(1,754)
 
(1,744)
 
(10)
 
 
 
Share based compensation
7 
 
7 
 
 
 
 
 
 
 
7 
 
Balance at Dec. 31, 2011
2,171 
3 
1,758 
110 
0 
0 
0 
0 
0 
(183)
1,688 
483 
Balance, shares at Dec. 31, 2011
 
328,000,000 
 
 
 
 
 
 
 
 
 
 
Net income
1,160 
 
 
1,077 
 
 
 
 
 
 
1,077 
83 
Other comprehensive income (loss)
(52)
 
 
 
 
 
 
 
 
(54)
(54)
2 
Dividend payments of consolidated affiliates to minority shareholders
(66)
 
 
 
 
 
 
 
 
 
 
(66)
Acquisition of minority interest
(17)
 
 
 
 
 
 
 
 
 
 
(17)
VCP payout
16 
 
16 
 
 
 
 
 
 
 
16 
 
Repurchase of ordinary shares
(403)
 
(72)
(331)
 
 
 
 
 
 
(403)
 
Repurchase of ordinary shares, shares
(13,421,742)
(13,000,000)
 
 
 
 
 
 
 
 
 
 
Share based compensation
21 
 
21 
 
 
 
 
 
 
 
21 
 
Balance at Dec. 31, 2012
2,830 
3 
1,723 
856 
0 
0 
0 
0 
0 
(237)
2,345 
485 
Balance, shares at Dec. 31, 2012
 
315,000,000 
 
 
 
 
 
 
 
 
 
 
Net income
1,301 1
 
 
1,212 
 
 
 
 
 
 
1,212 
89 
Other comprehensive income (loss)
4 
 
 
 
 
 
 
 
 
0 
0 
4 
Dividends on ordinary shares
(211)
 
3 
(214)
 
 
 
 
 
 
(211)
 
Dividend payments of consolidated affiliates to minority shareholders
(77)
 
 
 
 
 
 
 
 
 
 
(77)
Taxes withheld on employees' restricted share award vestings
(3)
 
(3)
 
 
 
 
 
 
 
(3)
 
Repurchase of ordinary shares
(457)
 
(49)
(408)
 
 
 
 
 
 
(457)
 
Repurchase of ordinary shares, shares
(9,106,434)
(9,000,000)
 
 
 
 
 
 
 
 
 
 
Share based compensation
47 
 
47 
 
 
 
 
 
 
 
47 
 
Assets purchased from non-controlling interests in excess of book value
 
 
(22)
 
 
 
 
 
 
 
(22)
22 
Balance at Dec. 31, 2013
$ 3,434 
$ 3 
$ 1,699 
$ 1,446 
$ 0 
$ 0 
$ 0 
$ 0 
$ 0 
$ (237)
$ 2,911 
$ 523 
Balance, shares at Dec. 31, 2013
 
306,000,000 
 
 
 
 
 
 
 
 
 
 
General
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”).
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 is one of the largest vehicle component manufacturers, and its customers include all 25 of the largest automotive original equipment manufacturers (“OEMs”) in the world. Delphi operates 126 major manufacturing facilities and 15 major technical centers utilizing a regional service model that enables the Company to efficiently and effectively serve its global customers from low cost countries. Delphi has a presence in 32 countries and has over 19,000 scientists, engineers and technicians focused on developing market relevant product solutions for its customers. 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 11. Debt and Note 15. 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 Policies
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 significant intercompany transactions and balances between consolidated Delphi businesses have been eliminated.
During the year ended December 31, 2013, Delphi received dividends of $30 million from two of its equity method investments. 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 year ended December 31, 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.
Revenue recognition—Sales are recognized when there is evidence of a sales agreement, the delivery of goods has occurred, the sales price is fixed or determinable and the collectability of revenue is reasonably assured. Sales are generally recorded upon shipment of product to customers and transfer of title under standard commercial terms. In addition, if Delphi enters into retroactive price adjustments with its customers, these reductions to revenue are recorded when they are determined to be probable and estimable. From time to time, Delphi enters into pricing agreements with its customers that provide for price reductions, some of which are conditional upon achieving certain joint cost saving targets. In these instances, revenue is recognized based on the agreed-upon price at the time of shipment.
Sales incentives and allowances are recognized as a reduction to revenue at the time of the related sale. In addition, from time to time, Delphi makes payments to customers in conjunction with ongoing and future business. These payments to customers are recognized as a reduction to revenue at the time of the commitment to make these payments.
Shipping and handling fees billed to customers are included in net sales, while costs of shipping and handling are included in cost of sales.
Delphi collects and remits taxes assessed by different governmental authorities that are both imposed on and concurrent with a revenue-producing transaction between the Company and the Company’s customers. These taxes may include, but are not limited to, sales, use, value-added, and some excise taxes. Delphi reports the collection of these taxes on a net basis (excluded from revenues).
Membership interests—At the Acquisition Date, the outstanding common stock of the Predecessor was canceled and membership interests in Delphi Automotive LLP were issued to Delphi’s owners. On March 31, 2011, all of the outstanding Class A and Class C membership interests held by GM and the PBGC were redeemed for approximately $4.4 billion.
In conjunction with the completion of the initial public offering on November 22, 2011 of 24,078,827 ordinary shares by the selling shareholders for an aggregate purchase price of approximately $530 million, 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. Delphi did not receive any proceeds from this offering.
Prior to the initial public offering, total membership interests and net income were allocated among the respective 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”). Refer to Note 15. Shareholders’ Equity and Net Income Per Share for additional information.
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 15. Shareholders’ Equity and Net Income Per Share for additional information including the calculation of basic and diluted net income per share.
Research and development—Costs are incurred in connection with research and development programs that are expected to contribute to future earnings. Such costs are charged against income as incurred. Total research and development expenses (including engineering) were approximately $1.3 billion, $1.2 billion and $1.2 billion for the years ended December 31, 2013, 2012 and 2011, respectively.
Cash and cash equivalents—Cash and cash equivalents are defined as short-term, highly liquid investments with original maturities of three months or less.
Time deposits—From time to time, Delphi enters into various time deposit agreements whereby certain of Delphi’s funds on deposit with financial institutions may not be withdrawn for a specified period of time. Time deposits with original maturity periods of three months or less are included as Cash and cash equivalents in the consolidated balance sheets, while time deposits with original maturity periods greater than three months are separately stated in the consolidated balance sheets. There were no time deposits at December 31, 2013 and 2012.
Marketable securities—Marketable securities with maturities of three months or less are classified as cash and cash equivalents for financial statement purposes. Available-for-sale securities are recorded in the consolidated financial statements at market value with changes in market value included in other comprehensive income (“OCI”). Delphi had no available-for-sale securities as of December 31, 2013 and 2012, respectively. In the event debt or equity securities experience an other-than-temporary impairment in value, such impairment is recognized as a loss in the consolidated statement of operations. In 2013, 2012 and 2011, Delphi recognized an other-than-temporary impairment of $0 million, $0 million and $6 million, respectively.
Restricted cash—Restricted cash includes balances on deposit at financial institutions that have issued letters of credit in favor of Delphi.
Accounts receivable—Delphi enters into agreements to sell certain of its accounts receivable, primarily in Europe. Since the agreements allow Delphi to maintain effective control over the receivables, these various accounts receivable factoring facilities were accounted for as short-term debt at December 31, 2013 and 2012. Collateral is not generally required related to these trade accounts receivable.
The allowance for doubtful accounts is established based upon analysis of trade receivables for known collectability issues and the aging of the trade receivables at the end of each period and, generally, all accounts receivable balances greater than 90 days past due are fully reserved. As of December 31, 2013 and 2012, the accounts receivable reserve was $63 million and $65 million, respectively and the provision for doubtful accounts was $7 million, $22 million and $25 million for the years ended December 31, 2013, 2012 and 2011, respectively.
The Company exchanges certain amounts of accounts receivable, primarily in the Asia/Pacific region, for bank notes with original maturities greater than three months. The collection of such bank notes are included in operating cash flows based on the substance of the underlying transactions, which are operating in nature.
Inventories—As of December 31, 2013 and 2012, 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. Refer to Note 3. Inventories for additional information. Obsolete inventory is identified based on analysis of inventory for known obsolescence issues, and, generally, the market value of inventory on hand in excess of one year’s supply is fully-reserved.
From time to time, payments may be received from suppliers. These payments from suppliers are recognized as a reduction of the cost of the material acquired during the period to which the payments relate. In some instances, supplier rebates are received in conjunction with or concurrent with the negotiation of future purchase agreements and these amounts are amortized over the prospective agreement period.
Property—Major improvements that materially extend the useful life of property are capitalized. Expenditures for repairs and maintenance are charged to expense as incurred. Depreciation is determined based on a straight-line method over the estimated useful lives of groups of property. Leasehold improvements under capital leases are depreciated over the period of the lease or the life of the property, whichever is shorter, with the depreciation applied directly to the asset account.
At December 31, 2013 and 2012, the special tools balance was $442 million and $362 million, respectively, included within property, net in the consolidated balance sheets. Special tools balances represent Delphi-owned tools, dies, jigs and other items used in the manufacture of customer components. Special tools also include unreimbursed pre-production tooling costs related to customer-owned tools for which the customer has provided a non-cancellable right to use the tool. Delphi-owned special tools balances are depreciated over the expected life of the special tool or the life of the related vehicle program, whichever is shorter. The unreimbursed costs incurred related to customer-owned special tools that are not subject to reimbursement are capitalized and depreciated over the expected life of the special tool or the life of the related vehicle program, whichever is shorter. Engineering, testing and other costs incurred in the design and development of production parts are expensed as incurred, unless the costs are reimbursable, as specified in a customer contract. As of December 31, 2013 and 2012, the Delphi-owned special tools balances were $370 million and $308 million, respectively, and the customer-owned special tools balances were $72 million and $54 million, respectively.
Valuation of long-lived assets—The carrying value of long-lived assets held for use including definite-lived intangible assets is periodically evaluated when events or circumstances warrant such a review. The carrying value of a long-lived asset held for use is considered impaired when the anticipated separately identifiable undiscounted cash flows from the asset are less than the carrying value of the asset. In that event, a loss is recognized based on the amount by which the carrying value exceeds the fair value of the long-lived asset. Impairment losses on long-lived assets held for sale are recognized if the carrying value of the asset is in excess of the asset's fair value, reduced for the cost to dispose of the asset. Fair value of long-lived assets is determined primarily using the anticipated cash flows discounted at a rate commensurate with the risk involved and Delphi’s review of appraisals. Refer to Note 6. Property, Net for more information.
Intangible Assets—We amortize definite-lived intangible assets over their estimated useful lives. We have definite-lived intangible assets related to patents and developed technology, customer relationships, trade names and in-process research and development. We do not amortize indefinite-lived in-process research and development, but test 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.
Goodwill—Goodwill is the excess of the purchase price over the fair value of identifiable net assets acquired in business combinations. We test goodwill for impairment annually or more frequently when indications of potential impairment exist. We monitor 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 we then perform 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, then we conclude that 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, we recognize an impairment loss in an amount equal to the excess, not to exceed the carrying value. Refer to Note 20. Acquisitions and Divestitures, for further information on the goodwill attributable to the acquisition of the Motorized Vehicles Division of FCI (“MVL”) in the fourth quarter of 2012.
Goodwill Impairment—For each reporting unit, we determined that the fair value of goodwill remained substantially in excess of carrying values. No goodwill impairments were recorded in 2013 or 2012. Refer to Note 7. Intangible Assets and Goodwill for further information.
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. These estimates are adjusted from time to time based on facts and circumstances that impact the status of existing claims. Refer to Note 9. Warranty Obligations.
Income Taxes—Deferred tax assets and liabilities reflect temporary differences between the amount of assets and liabilities for financial and tax reporting purposes. Such amounts are adjusted, as appropriate, to reflect changes in tax rates expected to be in effect when the temporary differences reverse. The effect on deferred tax assets and liabilities of a change in tax rates is recognized in earnings in the period that includes the enactment date. A valuation allowance is recorded to reduce our deferred tax assets to the amount that is more likely than not to be realized. In the event we determine it is more likely than not that the deferred tax assets will not be realized in the future, the valuation adjustment to the deferred tax assets will be charged to earnings in the period in which we make such a determination. In determining the provision for income taxes for financial statement purposes, the Company makes certain estimates and judgments which affect its evaluation of the carrying value of its deferred tax assets, as well as its calculation of certain tax liabilities.
Foreign currency translation—Assets and liabilities of non-U.S. subsidiaries that use a currency other than U.S. dollars as their functional currency are translated to U.S. dollars at end-of-period currency exchange rates. The consolidated statements of operations of non-U.S. subsidiaries are translated to U.S. dollars at average-period currency exchange rates. The effect of translation for non-U.S. subsidiaries is generally reported in OCI. The effect of remeasurement of assets and liabilities of non-U.S. subsidiaries that use the U.S. dollar as their functional currency is primarily included in cost of sales. Also included in cost of sales are gains and losses arising from transactions denominated in a currency other than the functional currency of a particular entity. Net foreign currency transaction losses or (gains) of $16 million, $24 million and $(3) million were included in the consolidated statements of operations for the years ended December 31, 2013, 2012 and 2011, respectively.
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 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 10. Restructuring.
Environmental liabilities—Environmental remediation liabilities are recognized when a loss is probable and can be reasonably estimated. Such liabilities generally are not subject to insurance coverage. The cost of each environmental remediation is estimated by engineering, financial, and legal specialists based on current law and considers the estimated cost of investigation and remediation required and the likelihood that, where applicable, other responsible parties will be able to fulfill their commitments. The process of estimating environmental remediation liabilities is complex and dependent primarily on the nature and extent of historical information and physical data relating to a contaminated site, the complexity of the site, the uncertainty as to what remediation and technology will be required, and the outcome of discussions with regulatory agencies and, if applicable, other responsible parties at multi-party sites. In future periods, new laws or regulations, advances in remediation technologies and additional information about the ultimate remediation methodology to be used could significantly change estimates by Delphi. Refer to Note 13. Commitments and Contingencies for more information.
Asset retirement obligations—Asset retirement obligations are recognized in accordance with FASB ASC 410, Asset Retirement and Environmental Obligations. Conditional retirement obligations have been identified primarily related to asbestos abatement at certain sites. To a lesser extent, conditional retirement obligations also exist at certain sites related to the removal of storage tanks and polychlorinated biphenyl disposal costs. Asset retirement obligations were $3 million and $3 million at December 31, 2013 and 2012, respectively.
Customer concentrations—As reflected in the table below, net sales to GM and Volkswagen Group (“VW”), Delphi's two largest customers, totaled approximately 27%, 29% and 28% of our total net sales for the years ended December 31, 2013, 2012 and 2011, respectively.
 
Percentage of Total Net Sales
 
 
Accounts and Other Receivables
 
Year Ended December 31,
 
 
December 31,
2013
 
December 31,
2012
 
2013
 
2012
 
2011
 
 
 
 
 
 
 
 
 
(in millions)
GM
17
%
 
18
%
 
19
%
 
 
$
377

 
$
382

VW
10
%
 
11
%
 
9
%
 
 
199

 
109


Derivative financial instruments—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.
Exposure to fluctuations in currency exchange rates, interest rates and certain commodity prices are managed by entering into a variety of forward contracts and swaps with various counterparties. Such financial exposures are managed in accordance with the policies and procedures of Delphi. Delphi did not enter into derivative transactions for speculative or trading purposes. As part of the hedging program approval process, Delphi identifies the specific financial risk which the derivative transaction will minimize, the appropriate hedging instrument to be used to reduce the risk and the correlation between the financial risk and the hedging instrument. Purchase orders, sales contracts, letters of intent, capital planning forecasts and historical data are used as the basis for determining the anticipated values of the transactions to be hedged. Delphi does not enter into derivative transactions that do not have a high correlation with the underlying financial risk. Hedge positions, as well as the correlation between the transaction risks and the hedging instruments, are reviewed on an ongoing basis.
Foreign exchange forward contracts are accounted for as hedges of firm or forecasted foreign currency commitments to the extent they are designated and assessed as highly effective. All foreign exchange contracts are marked to market on a current basis. Commodity swaps are accounted for as hedges of firm or anticipated commodity purchase contracts to the extent they are designated and assessed as effective. All other commodity derivative contracts that are not designated as hedges are either marked to market on a current basis or are exempted from mark to market accounting as normal purchases. At December 31, 2013 and 2012, the exposure to movements in interest rates was not hedged with derivative instruments. Refer to Note 17. Derivatives and Hedging Activities for additional information.
Extended disability benefits—Costs associated with extended disability benefits provided to inactive employees are accrued throughout the duration of their active employment. Workforce demographic data and historical experience are utilized to develop projections of time frames and related expense for postemployment benefits.
Workers’ compensation benefits—Workers’ compensation benefit accruals are actuarially determined and are subject to the existing workers’ compensation laws that vary by location. Accruals for workers’ compensation benefits represent the discounted future cash expenditures expected during the period between the incidents necessitating the employees to be idled and the time when such employees return to work, are eligible for retirement or otherwise terminate their employment.
Share-Based Compensation—Our share-based compensation arrangements consist of the Delphi Automotive PLC Long Term Incentive Plan (the “PLC LTIP”), and through December 31, 2012, the Value Creation Plan (the “VCP”), a long term incentive plan for key employees. In 2013 and 2012, grants of restricted stock units (“RSUs”) to Delphi's executives were made under the PLC LTIP. The RSU awards include a time-based vesting portion and a performance-based vesting portion. The performance-based vesting portion includes performance and market conditions in addition to service conditions. The grant date fair value of the RSUs is 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, or a contemporaneous valuation performed by an independent valuation specialist with respect to awards with market conditions. Compensation expense is recognized based upon the grant date fair value of the awards applied to the Company's best estimate of ultimate performance against the respective targets on a straight-line basis over the requisite vesting period of the awards. The performance conditions require management to make assumptions regarding the likelihood of achieving certain performance goals. Changes in these performance assumptions, as well as differences in actual results from management's estimates, could result in estimated or actual fair values different from previously estimated fair values.
We expensed the estimated fair value of the VCP over the requisite service vesting periods. Estimating the fair value for the VCP required us to make assumptions regarding the nature of the payout of the award as well as changes in our share price during the post-initial public offering period. The awards cliff vested on December 31, 2012, the end of the performance period. See Note 21. Share-Based Compensation for further disclosures relating to the Company's share-based compensation arrangements.
Business Combinations—We account for our business combinations in accordance with the accounting guidance in FASB ASC 805, Business Combinations. The purchase price of an acquired business is allocated to its identifiable assets and liabilities based on estimated fair values. The excess of the purchase price over the amount allocated to the assets and liabilities, if any, is recorded as goodwill. Determining the fair values of assets acquired and liabilities assumed requires management's judgment, the utilization of independent appraisal firms and often involves the use of significant estimates and assumptions with respect to the timing and amount of future cash flows, market rate assumptions, actuarial assumptions, and appropriate discount rates, among other items.
Recently issued accounting pronouncements—In December 2011, the FASB issued ASU 2011-10, Derecognition of In-substance Real Estate—a Scope Clarification. This guidance requires that if an entity ceases to have a controlling interest in a subsidiary that is in substance real estate due to a default on the loan (mortgage) on that real estate, it would continue to recognize the asset and related debt until the real estate is legally transferred to satisfy the debt. The guidance is effective for fiscal years beginning after June 15, 2012. The adoption of this guidance did not have a significant impact on Delphi's financial statements.
The FASB amended ASC 820, “Fair Value Measurements,” with ASU 2011-04, Fair Value Measurement (Topic 820) - Amendments to Achieve Common Fair Value Measurement and Disclosure Requirements in U.S. GAAP and IFRSs. This update provides converged guidance on how to measure fair value, which is largely consistent with existing U.S. GAAP. This update also requires additional fair value measurement disclosures. The provisions of this update were effective as of January 1, 2012. The adoption of this guidance did not have a significant impact on Delphi's financial statements.
In July 2012, the FASB issued ASU 2012-02, Testing Indefinite-lived Intangible Assets for Impairment. The revised standard is intended to simplify impairment testing of indefinite-lived intangible assets by adding an option to qualitatively assess the asset for impairment.  The guidance is effective for interim and annual impairment tests performed for fiscal years beginning after September 15, 2012.  Delphi adopted this guidance for its testing of indefinite-lived intangible assets for impairment effective October 1, 2012 and it did not have a significant impact on Delphi's financial statements.
In December 2011, the 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 17. Derivatives and Hedging Activities for additional information.
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 16. 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
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:
 
 
December 31,
2013
 
December 31,
2012
 
 
(in millions)
Productive material
 
$
584

 
$
586

Work-in-process
 
142

 
128

Finished goods
 
367

 
352

Total
 
$
1,093

 
$
1,066

Assets
Assets
ASSETS
Other current assets consisted of the following:
 
 
December 31,
2013
 
December 31,
2012
 
 
(in millions)
Value added tax receivable
 
$
177

 
$
194

Deferred income taxes (Note 14)
 
133

 
148

Prepaid insurance and other expenses
 
59

 
86

Reimbursable engineering costs
 
76

 
52

Notes receivable
 
45

 
22

Debt issuance costs (Note 11)
 
10

 
17

Income and other taxes receivable
 
57

 
47

Deposits to vendors
 
9

 
15

Derivative financial instruments (Note 17)
 
15

 
21

Other
 
23

 
21

Total
 
$
604

 
$
623


Other long-term assets consisted of the following:
 
 
December 31,
2013
 
December 31,
2012
 
 
(in millions)
Deferred income taxes (Note 14)
 
$
283

 
$
281

Debt issuance costs (Note 11)
 
43

 
55

Income and other taxes receivable
 
123

 
88

Reimbursable engineering costs
 
79

 
50

Value added tax receivable
 
29

 
33

Derivative financial instruments (Note 17)
 
5

 
6

Other
 
64

 
69

Total
 
$
626

 
$
582

Investments in Affiliates
Equity Method Investments and Joint Ventures Disclosure
INVESTMENTS IN AFFILIATES
As part of Delphi’s operations, it has investments in seven non-consolidated affiliates accounted for under the equity method of accounting. These affiliates are not publicly traded companies and are located primarily in South Korea, China and Mexico. Delphi’s ownership percentages vary generally from approximately 20% to 50%, with the most significant investments in Korea Delphi Automotive Systems Corporation (of which Delphi owns 50%), Delphi-TVS Diesel Systems Ltd (of which Delphi owns approximately 50%), and Promotora de Partes Electricas Automotrices, S.A. de C.V. (of which Delphi owns approximately 40%). The aggregate investment in non-consolidated affiliates was $234 million and $231 million at December 31, 2013 and 2012, respectively. Dividends of $30 million, $63 million and $1 million for the years ended December 31, 2013, 2012 and 2011, respectively, have been received from non-consolidated affiliates. No impairment charges were recorded for the years ended December 31, 2013 and 2012. A $7 million impairment charge was recorded for the year ended December 31, 2011 related to Delphi’s investment in a non-consolidated affiliate.
The following is a summary of the combined financial information of significant affiliates accounted for under the equity method as of December 31, 2013 and 2012 and for the years ended December 31, 2013, 2012 and 2011 (unaudited):
 
December 31,
 
2013
 
2012
 
(in millions)
Current assets
$
608

 
$
688

Non-current assets
474

 
449

Total assets
$
1,082

 
$
1,137

Current liabilities
$
362

 
$
411

Non-current liabilities
257

 
235

Shareholders’ equity
463

 
491

Total liabilities and shareholders’ equity
$
1,082

 
$
1,137

 
Year Ended December 31,
 
2013
 
2012
 
2011
 
(in millions)
Net sales
$
1,773

 
$
1,737

 
$
1,750

Gross profit
237

 
184

 
159

Net income
63

 
43

 
25


A summary of transactions with affiliates is shown below:
 
Year Ended December 31,
 
2013
 
2012
 
2011
 
(in millions)
Sales to affiliates
$
33

 
$
36

 
$
66

Purchases from affiliates
$
113

 
$
112

 
$
129

Property, Net
Property, Plant and Equipment Disclosure
PROPERTY, NET
Property, net consisted of:
 
 
Estimated Useful
Lives
 
December 31,
 
 
2013
 
2012
 
 
(Years)
 
(in millions)
Land
 
—
 
$
172

 
$
169

Land and leasehold improvements
 
3-20
 
100

 
93

Buildings
 
40
 
665

 
626

Machinery, equipment, and tooling
 
3-20
 
3,311

 
2,712

Furniture and office equipment
 
3-10
 
214

 
178

Construction in progress
 
—
 
344

 
265

Total
 
 
 
4,806

 
4,043

Less: accumulated depreciation
 
 
 
(1,590
)
 
(1,183
)
Total property, net
 
 
 
$
3,216

 
$
2,860


For the years ended December 31, 2013 and 2011, Delphi did not incur impairment charges related to long-lived assets held for use. For the year ended December 31, 2012, in conjunction with the restructuring activities initiated in the fourth quarter, as more fully discussed in Note 10. Restructuring, Delphi incurred $15 million of impairment charges related to long-lived assets held for use in its Electronics and Safety segment.
Intangible Assets and Goodwill
Goodwill and Intangible Assets Disclosure
INTANGIBLE ASSETS AND GOODWILL
The changes in the carrying amount of intangible assets and goodwill were as follows as of December 31, 2013 and 2012. See Note 20. Acquisitions and Divestitures for a further description of the MVL acquisition.
 
 
 
As of December 31, 2013
 
As of December 31, 2012:
 
Estimated Useful
Lives
 
Gross
Carrying
Amount
 
Accumulated
Amortization
 
Net
Carrying
Amount
 
Gross
Carrying
Amount
 
Accumulated
Amortization
 
Net
Carrying
Amount
 
(Years)
 
(in millions)
 
(in millions)
Amortized intangible assets:
 
 
 
 
 
 
 
 
 
 
 
 
 
Patents and developed technology
6-15
 
$
671

 
$
201

 
$
470

 
$
636

 
$
142

 
$
494

Customer relationships
6-10
 
297

 
125

 
172

 
293

 
85

 
208

Trade names
6-20
 
102

 
21

 
81

 
103

 
16

 
87

Total
 
 
1,070

 
347

 
723

 
1,032

 
243

 
789

Unamortized intangible assets:
 
 
 
 
 
 
 
 
 
 
 
 
 
In-process research & development
—
 
—

 
—

 
—

 
14

 
—

 
14

Goodwill
—
 
496

 
—

 
496

 
473

 
—

 
473

Total
 
 
$
1,566

 
$
347

 
$
1,219

 
$
1,519

 
$
243

 
$
1,276


Estimated amortization expense for the years ending December 31, 2014, 2015, 2016, 2017 and 2018 is presented below:
 
Year Ending December 31,
 
2014
 
2015
 
2016
 
2017
 
2018
 
(in millions)
Estimated amortization expense
$
97

 
$
88

 
$
81

 
$
78

 
$
70


A roll-forward of the gross carrying amounts of intangible assets for the years ended December 31, 2013 and 2012 is presented below:
 
2013
 
2012
 
(in millions)
Balance at January 1
$
1,519

 
$
758

Acquisitions
12

 
733

Foreign currency translation and other
35

 
28

Balance at December 31
$
1,566

 
$
1,519


A roll-forward of the accumulated amortization for the years ended December 31, 2013 and 2012 is presented below:
 
2013
 
2012
 
(in millions)
Balance at January 1
$
243

 
$
162

Amortization
104

 
84

Foreign currency translation and other
—

 
(3
)
Balance at December 31
$
347

 
$
243


A roll-forward of the carrying amount of goodwill, by operating segment, for the years ended December 31, 2013 and 2012 is presented below:
 
Electrical/Electronic Architecture
 
Powertrain Systems
 
Total
 
(in millions)
Balance at January 1, 2012
$
—

 
$
8

 
$
8

Acquisitions
454

 
—

 
454

Foreign currency translation and other
11

 
—

 
11

Balance at December 31, 2012
$
465

 
$
8

 
$
473

Foreign currency translation and other
22

 
1

 
23

Balance at December 31, 2013
$
487

 
$
9

 
$
496

Liabilities
Liabilities
LIABILITIES
Accrued liabilities consisted of the following:
 
 
December 31,
2013
 
December 31,
2012
 
 
(in millions)
Payroll-related obligations
 
$
269

 
$
259

Employee benefits, including current pension obligations
 
130

 
123

Executive long-term incentive plan (Note 21)
 
—

 
20

Income and other taxes payable
 
280

 
261

Warranty obligations (Note 9)
 
75

 
92

Restructuring (Note 10)
 
94

 
118

Customer deposits
 
38

 
35

Deferred income taxes (Note 14)
 
1

 
12

Derivative financial instruments (Note 17)
 
16

 
12

Accrued interest
 
24

 
9

Other
 
311

 
300

Total
 
$
1,238

 
$
1,241


Other long-term liabilities consisted of the following:
 
 
December 31,
2013
 
December 31,
2012
 
 
(in millions)
Environmental (Note 13)
 
$
18

 
$
18

Extended disability benefits
 
9

 
12

Warranty obligations (Note 9)
 
94

 
74

Restructuring (Note 10)
 
45

 
45

Payroll-related obligations
 
12

 
11

Accrued income taxes
 
34

 
38

Deferred income taxes (Note 14)
 
151

 
185

Derivative financial instruments (Note 17)
 
6

 
1

Other
 
40

 
50

Total
 
$
409

 
$
434

Warranty Obligations
Warranty Obligations
WARRANTY OBLIGATIONS
Expected warranty costs for products sold are recognized principally at the time of sale of the product based on estimates of the amount that will eventually be required to settle such obligations. These accruals are based on factors such as past experience, production changes, industry developments and various other considerations. These estimates are 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 December 31, 2013. The estimated reasonably possible amount to ultimately resolve all matters are not materially different from the recorded reserves as of December 31, 2013.
The table below summarizes the activity in the product warranty liability for the years ended December 31, 2013 and 2012:
 
Year Ended December 31,
 
2013
 
2012
 
(in millions)
Accrual balance at beginning of year
$
166

 
$
315

Provision for estimated warranties incurred during the year
68

 
56

Provision for changes in estimate for pre-existing warranties
(4
)
 
(42
)
Settlements made during the year (in cash or in kind)
(68
)
 
(171
)
Foreign currency translation and other
7

 
8

Accrual balance at end of year
$
169

 
$
166


In 2009, Delphi received information regarding potential warranty claims related to certain components supplied by Delphi’s Powertrain segment. In 2010, Delphi recorded a change in the previous estimate of probable loss related to this matter by recognizing warranty expense in cost of sales of $75 million. This adjustment resulted in a corresponding $75 million decrease in net income attributable to Delphi and a corresponding unfavorable earnings per share impact of $0.11 for the year ended December 31, 2010. 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. This adjustment resulted in a corresponding $76 million decrease in net income attributable to Delphi and a corresponding unfavorable earnings per share impact of $0.18 for the year ended December 31, 2011. In April 2011, in accordance with the terms of the settlement agreement, Delphi made a payment of €90 million (approximately $133 million at April 30, 2011 exchange rates) and 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. In September 2012, as a result of favorable warranty claims experience, Delphi reached a final settlement with its customer related to ongoing warranty claims for production subsequent to the March 2011 settlement, and recorded a change in its previous estimate of warranty claims by recognizing a $25 million reduction of warranty expense in cost of sales in September 2012. This adjustment resulted in a corresponding $25 million increase in net income attributable to Delphi and a corresponding favorable earnings per share impact of $0.08 for the year ended December 31, 2012.
Restructuring
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 the Company’s strategy, either in the normal course of business or pursuant to significant restructuring programs.
In October 2012, Delphi initiated and committed to approximately $300 million of various restructuring programs which includes costs related to the integration of MVL 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. These restructuring actions are principally focused on the European region, and are expected to be substantially completed in the first half of 2014. Approximately $170 million of the total restructuring was recognized in the fourth quarter of 2012, and during the year ended December 31, 2013 Delphi recorded employee related and other restructuring charges totaling $145 million. 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 $150 million and $20 million in the years ended December 31, 2013 and December 31, 2012.
The following table summarizes the restructuring charges recorded for the years ended December 31, 2013, 2012 and 2011 by operating segment:
 
 
Year Ended December 31,
Segment
 
2013
 
2012
 
2011
 
 
(in millions)
Electrical/Electronic Architecture
 
$
28

 
$
49

 
$
12

Powertrain Systems
 
52

 
25

 
12

Electronics and Safety
 
56

 
89

 
5

Thermal Systems
 
9

 
8

 
2

Total
 
$
145

 
$
171

 
$
31


The table below summarizes the activity in the restructuring liability for the years ended December 31, 2013 and 2012:
 
 
Employee
Termination
Benefits
Liability
 
Other Exit
Costs Liability
 
Total
 
 
(in millions)
Accrual balance at January 1, 2012
 
$
86

 
$
10

 
$
96

Provision for estimated expenses incurred during the year
 
166

 
5

 
171

Payments made during the year
 
(102
)
 
(7
)
 
(109
)
Foreign currency and other
 
7

 
(2
)
 
5

Accrual balance at December 31, 2012
 
$
157

 
$
6

 
$
163

Provision for estimated expenses incurred during the year
 
143

 
2

 
145

Payments made during the year
 
(166
)
 
(4
)
 
(170
)
Foreign currency and other
 
1

 
—

 
1

Accrual balance at December 31, 2013
 
$
135

 
$
4

 
$
139


As part of Delphi’s ongoing efforts to lower costs and operate efficiently, the Company recorded $10 million of restructuring costs during 2011 in North America and South America, primarily related to the Electrical/Electronic Architecture segment. The Company also recorded $10 million of restructuring costs during 2011 in conjunction with workforce reduction and programs related to the rationalization of manufacturing and engineering processes, including plant closures in Europe, primarily related to the Powertrain segment. Additionally, $5 million of costs were incurred related to workforce reduction efforts resulting from prior divestitures.
Debt
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 December 31, 2013 and December 31, 2012:
 
December 31,
2013
 
December 31,
2012
 
(in millions)
Accounts receivable factoring
$
1

 
$
19

5.875%, senior notes, due 2019
500

 
500

6.125%, senior notes, due 2021
500

 
500

5.000%, senior notes, due 2023
800

 
—

Tranche A Term Loan, due 2018
564

 
567

Tranche B Term Loan, due 2017
—

 
772

Capital leases and other
47

 
106

Total debt
2,412

 
2,464

Less: current portion
(61
)
 
(140
)
Long-term debt
$
2,351

 
$
2,324


The principal maturities of debt, at nominal value follows:
Year
 
Debt and
Capital Lease
Obligations
 
 
(in millions)
2014
 
$
61

2015
 
47

2016
 
55

2017
 
44

2018
 
403

Thereafter
 
1,802

Total
 
$
2,412


Credit Agreement
In March 2011, in conjunction with the redemption of membership interests from Class A and Class C membership interest holders, Delphi Corporation entered into a credit agreement with JPMorgan Chase Bank, N.A., as lead arranger and administrative agent (the “Original Credit Agreement”). The Original Credit Agreement provided for $3.0 billion in senior secured credit facilities consisting of term loans (as subsequently amended from time to time, the “Tranche A Term Loan” and the “Tranche B Term Loan,” respectively) and a revolving credit facility (as subsequently amended from time to time, the “Revolving Credit Facility”). The Original Credit Agreement was amended and restated on each of May 17, 2011 (the “May 2011 Credit Agreement”), September 14, 2012 (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 May 2011 Credit Agreement, which was entered into simultaneously with the issuance of senior unsecured notes in the amount of $1 billion (as more fully described below), reduced the total size of the senior secured credit facilities to $2.4 billion. Under the 2012 Credit Agreement, the Company increased the Revolving Credit Facility to $1.3 billion and the Tranche A Term Loan to $574 million and used the incremental proceeds to pay a portion of the cost of acquiring MVL. On March 1, 2013, following the 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 year ended December 31, 2013. Approximately $14 million in issuance costs were paid in connection with the March 2013 amendment. Unamortized debt issuance costs associated with the Tranche A Term Loan and Revolving Credit Facility of $27 million are being amortized over the term of the Credit Agreement, as extended pursuant to the March 1, 2013 amendment. At December 31, 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 Delphi Corporation'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 (the “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%. The Applicable Rates under the 2012 Credit Agreement and current Credit Agreement are set forth below:
 
Credit Agreement (December 31, 2013)
 
2012 Credit Agreement (December 31, 2012)
 
LIBOR plus
 
ABR plus
 
LIBOR plus
 
ABR plus
Revolving Credit Facility
1.25
%
 
0.25
%
 
2.00
%
 
1.00
%
Tranche A Term Loan
1.25
%
 
0.25
%
 
2.00
%
 
1.00
%
Tranche B Term Loan
N/A

 
N/A

 
2.50
%
 
1.50
%

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 0.00% and a 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 December 31, 2013, Delphi Corporation selected the one-month LIBOR interest rate option, as detailed in the table below, and the amounts outstanding, and rates effective as of December 31, 2013 were based on Delphi’s current credit rating and applicable margin for the Credit Agreement:
 
 
 
 
Borrowings as of
 

 
 
 
 
December 31, 2013
 
Rates effective as of
 
 
LIBOR plus
 
(in millions)
 
December 31, 2013
Revolving Credit Facility
 
1.25
%
 
$
—

 
—
%
Tranche A Term Loan
 
1.25
%
 
564

 
1.4375
%

The Issuer is obligated to make quarterly principal payments throughout the terms of the Tranche A 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 December 31, 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 December 31, 2013. In December 2013, Delphi Automotive PLC received an investment grade credit rating from Standard & Poor's Rating Services and met the other conditions in the Credit Agreement for the release of all security interests on the collateral that was previously pledged in accordance with the Credit Agreement. As a result, all such collateral was released in the first quarter of 2014. The Credit Agreement requires that such security interests be reinstated if neither Delphi Automotive PLC nor Delphi Corporation have investment grade ratings from Standard & Poor's Rating Service or Moody's Investor Service. In addition, certain covenants shall not apply and certain guarantees shall be released after Delphi Automotive PLC and Delphi Corporation have received additional 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 that are directly or indirectly 100% owned by the Company, subject to certain exceptions set forth in the Credit Agreement. All obligations under the Credit Agreement, including the guarantees of those obligations, were originally 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 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 or merge with or into other entities. As of December 31, 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 December 31, 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 that are directly or indirectly 100% owned by the Company, 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 uncommitted factoring facilities are available through various financial institutions. Additionally, during the year ended December 31, 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 with borrowings under the new program being subject to the availability of eligible accounts receivable. As of December 31, 2013 and December 31, 2012, $1 million and $19 million, respectively, were outstanding under these accounts receivable factoring facilities.
Capital leases and other—As of December 31, 2013 and December 31, 2012, approximately $47 million and approximately $106 million, respectively, of other debt issued by certain international subsidiaries and capital lease obligations were outstanding.
Interest—Cash paid for interest related to amounts outstanding totaled $118 million, $119 million and $101 million for the years ended December 31, 2013, 2012 and 2011, respectively.
Pension Benefits
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 over the requisite service period.
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.
Funded Status
The amounts shown below reflect the change in the U.S. defined benefit pension obligations during 2013 and 2012.
 
Year Ended December 31, 2013
 
Year Ended December 31, 2012
 
(in millions)
Benefit obligation at beginning of year
$
80

 
$
83

Interest cost
2

 
3

Actuarial (gain) loss
(2
)
 
4

Benefits paid
(11
)
 
(10
)
Benefit obligation at end of year
$
69

 
$
80

Change in plan assets:
 
 
 
Fair value of plan assets at beginning of year
$
—

 
$
—

Delphi contributions
11

 
10

Benefits paid
(11
)
 
(10
)
Fair value of plan assets at end of year
$
—

 
$
—

Underfunded status
$
(69
)
 
$
(80
)
Amounts recognized in the consolidated balance sheets consist of:
 
 
 
Current liabilities
(12
)
 
(11
)
Non-current liabilities
(57
)
 
(69
)
Total
$
(69
)
 
$
(80
)
Amounts recognized in accumulated other comprehensive income consist of (pre-tax):
 
 
 
Actuarial loss
$
11

 
$
13

Total
$
11

 
$
13


The amounts shown below reflect the change in the non-U.S. defined benefit pension obligations during 2013 and 2012.
 
Year ended
December 31,
2013
 
Year ended
December 31,
2012
 
(in millions)
Benefit obligation at beginning of year
$
1,972

 
$
1,596

Liabilities assumed in the acquisition
—

 
29

Divestitures
—

 
(5
)
Service cost
53

 
44

Interest cost
85

 
84

Actuarial loss
39

 
234

Benefits paid
(86
)
 
(82
)
Impact of curtailments
(5
)
 
—

Plan amendments
—

 
2

Exchange rate movements and other
47

 
70

Benefit obligation at end of year
$
2,105

 
$
1,972

Change in plan assets:
 
 
 
Fair value of plan assets at beginning of year
$
1,109

 
$
987

Assets acquired in the acquisition
—

 
5

Actual return on plan assets
56

 
91

Delphi contributions
98

 
59

Benefits paid
(86
)
 
(82
)
Exchange rate movements and other
22

 
49

Fair value of plan assets at end of year
$
1,199

 
$
1,109

Underfunded status
$
(906
)
 
$
(863
)
Amounts recognized in the consolidated balance sheets consist of:
 
 
 
Current liabilities
(14
)
 
(23
)
Non-current liabilities
(892
)
 
(840
)
Total
$
(906
)
 
$
(863
)
Amounts recognized in accumulated other comprehensive income consist of (pre-tax):
 
 
 
Actuarial loss
$
278

 
$
228

Prior service cost
1

 
1

Total
$
279

 
$
229


The projected benefit obligation (“PBO”), accumulated benefit obligation (“ABO”), and fair value of plan assets for pension plans with accumulated benefit obligations in excess of plan assets and with plan assets in excess of accumulated benefit obligations are as follows:
 
U.S. Plans
 
Non-U.S. Plans
 
2013
 
2012
 
2013
 
2012
 
(in millions)
Plans with ABO in Excess of Plan Assets            
PBO
$
69

 
$
80

 
$
1,956

 
$
1,813

ABO
69

 
80

 
1,749

 
1,619

Fair value of plan assets at end of year
—

 
—

 
1,052

 
973

 
Plans with Plan Assets in Excess of ABO            
PBO
$
—

 
$
—

 
$
149

 
$
159

ABO
—

 
—

 
100

 
103

Fair value of plan assets at end of year
—

 
—

 
147

 
136

 
Total
PBO
$
69

 
$
80

 
$
2,105

 
$
1,972

ABO
69

 
80

 
1,849

 
1,722

Fair value of plan assets at end of year
—

 
—

 
1,199

 
1,109


Benefit costs presented below were determined based on actuarial methods and included the following:
 
U.S. Plans
 
Year Ended December 31,
 
2013
 
2012
 
2011
 
(in millions)
Interest cost
$
2

 
$
3

 
$
3

Net periodic benefit cost
$
2

 
$
3

 
$
3


 
Non-U.S. Plans
 
Year Ended December 31,
 
2013
 
2012
 
2011
 
(in millions)
Service cost
$
53

 
$
44

 
$
45

Interest cost
85

 
84

 
87

Expected return on plan assets
(70
)
 
(65
)
 
(61
)
Settlement loss (gain)
2

 
—

 
(1
)
Curtailment gain
—

 
—

 
(3
)
Amortization of actuarial losses
7

 
—

 
—

Other
1

 
1

 
—

Net periodic benefit cost
$
78

 
$
64

 
$
67


Other postretirement benefit obligations were approximately $7 million and $15 million at December 31, 2013 and 2012, respectively.
Experience gains and losses, as well as the effects of changes in actuarial assumptions and plan provisions are recognized in other comprehensive income. Cumulative gains and losses in excess of 10% of the PBO for a particular plan are amortized over the average future service period of the employees in that plan. The estimated actuarial loss for the defined benefit pension plans that will be amortized from accumulated other comprehensive income into net periodic benefit cost in 2014 is $8 million.
The principal assumptions used to determine the pension expense and the actuarial value of the projected benefit obligation for the U.S. and non-U.S. pension plans were:
Assumptions used to determine benefit obligations at December 31:
 
Pension Benefits
 
U.S. Plans
 
Non-U.S. Plans
 
2013
 
2012
 
2013
 
2012
Weighted-average discount rate
3.00
%
 
2.40
%
 
4.58
%
 
4.41
%
Weighted-average rate of increase in compensation levels
N/A

 
N/A

 
3.85
%
 
3.50
%
Assumptions used to determine net expense for years ended December 31:
 
Pension Benefits
 
U.S. Plans
 
Non-U.S. Plans
 
2013
 
2012
 
2011
 
2013
 
2012
 
2011
Weighted-average discount rate
2.40
%
 
3.30
%
 
4.10
%
 
4.41
%
 
5.24
%
 
5.69
%
Weighted-average rate of increase in compensation levels
N/A

 
N/A

 
N/A

 
3.50
%
 
3.66
%
 
3.88
%
Expected long-term rate of return on plan assets
N/A

 
N/A

 
N/A

 
6.44
%
 
6.43
%
 
6.65
%

Delphi selects discount rates by analyzing the results of matching each plan’s projected benefit obligations with a portfolio of high-quality fixed income investments rated AA-or higher by Standard and Poor’s.
Delphi does not have any U.S. pension assets; therefore no U.S. asset rate of return calculation was necessary. The primary funded non-U.S. plans are in the U.K. and Mexico. For the determination of 2013 expense, Delphi assumed a long-term expected asset rate of return of approximately 6.25% and 8.50% for the U.K. and Mexico, respectively. Delphi evaluated input from local actuaries and asset managers, including consideration of recent fund performance and historical returns, in developing the long-term rate of return assumptions. The assumptions for the U.K. and Mexico are primarily long-term, prospective rates.
Delphi’s pension expense for 2014 is determined at the 2013 year end measurement date. For purposes of analysis, the following table highlights the sensitivity of the Company’s pension obligations and expense to changes in key assumptions:
Change in Assumption
 
Impact on Pension Expense
  
Impact on PBO    
25 basis point (“bp”) decrease in discount rate
 
+ $8 million
  
+ $ 93 million
25 bp increase in discount rate
 
- $5 million
  
- $ 87 million
25 bp decrease in long-term expected return on assets
 
+ $3 million
  
—
25 bp increase in long-term expected return on assets
 
- $3 million
  
—

The above sensitivities reflect the effect of changing one assumption at a time. It should be noted that economic factors and conditions often affect multiple assumptions simultaneously and the effects of changes in key assumptions are not necessarily linear. The above sensitivities also assume no changes to the design of the pension plans and no major restructuring programs.
Pension Funding
The following benefit payments, which reflect expected future service, as appropriate, are expected to be paid:
 
Projected Pension Benefit Payments
 
U.S. Plans    
 
Non-U.S. Plans    
 
(in millions)
2014
$
12

 
$
78

2015
7

 
72

2016
9

 
78

2017
8

 
83

2018
7

 
90

2019 – 2023
27

 
555


Delphi anticipates making pension contributions of approximately $90 million in 2014.
Delphi sponsors defined contribution plans for certain hourly and salaried employees. Expense related to the contributions for these plans was $49 million, $48 million, and $46 million for the years ended December 31, 2013, 2012 and 2011, respectively.
Plan Assets
The pension plans sponsored by Delphi invest in a diversified portfolio consisting of an array of asset classes that attempts to maximize returns while minimizing volatility. These asset classes include developed market equities, emerging market equities, private equity, global high quality and high yield fixed income, real estate, and absolute return strategies.
The fair values of Delphi’s pension plan assets weighted-average asset allocations at December 31, 2013 and 2012, by asset category, are as follows:
 
Fair Value Measurements at December 31, 2013
Asset Category
Total    
 
Quoted Prices
in Active
Markets for
Identical
Assets
(Level  1)
 
Significant
Observable
Inputs
    (Level 2)    
 
Significant
Unobservable
Inputs
    (Level 3)    
 
(in millions)
Cash
$
64

 
$
64

 
$
—

 
$
—

Time deposits
7

 
—

 
7

 
—

Equity mutual funds
412

 
—

 
412

 
—

Bond mutual funds
435

 
—

 
435

 
—

Real estate trust funds
45

 
—

 
—

 
45

Hedge Funds
90

 
—

 
—

 
90

Insurance contracts
4

 
—

 
—

 
4

Debt securities
85

 
85

 
—

 
—

Equity securities
57

 
57

 
—

 
—

Total
$
1,199

 
$
206

 
$
854

 
$
139

 
Fair Value Measurements at December 31, 2012
Asset Category
Total    
 
Quoted Prices
in Active
Markets for
Identical
Assets
(Level  1)
 
Significant
Observable
Inputs
    (Level 2)    
 
Significant
Unobservable
Inputs
    (Level 3)    
 
(in millions)
Cash
$
58

 
$
58

 
$
—

 
$
—

Time deposits
2

 
—

 
2

 
—

Equity mutual funds
313

 
—

 
313

 
—

Bond mutual funds
430

 
—

 
430

 
—

Real estate trust funds
42

 
—

 
—

 
42

Hedge Funds
91

 
—

 
—

 
91

Commodities Fund
39

 
—

 
39

 
—

Insurance contracts
3

 
—

 
—

 
3

Debt securities
76

 
76

 
—

 
—

Equity securities
55

 
55

 
—

 
—

Total
$
1,109

 
$
189

 
$
784

 
$
136


Following is a description of the valuation methodologies used for pension assets measured at fair value.
Time deposits - The fair value of fixed-maturity certificates of deposit was estimated using the rates offered for deposits of similar remaining maturities.
Equity Mutual Funds—The fair value of the equity mutual funds is determined by the indirect quoted market prices on regulated financial exchanges of the underlying investments included in the fund.
Bond Mutual Funds—The fair value of the bond mutual funds is determined by the indirect quoted market prices on regulated financial exchanges of the underlying investments included in the fund.
Real Estate—The fair value of real estate properties is estimated using an annual appraisal provided by the administrator of the property investment. Management believes this is an appropriate methodology to obtain the fair value of these assets.
Hedge Funds—The fair value of the hedge funds is accounted for by a custodian. The custodian obtains valuations from the underlying hedge fund managers based on market quotes for the most liquid assets and alternative methods for assets that do not have sufficient trading activity to derive prices. Management and the custodian review the methods used by the underlying managers to value the assets. Management believes this is an appropriate methodology to obtain the fair value of these assets.
Commodities—The fair value of commodity funds are determined by comparing exchange traded prices and Index rates for futures and/or swap contracts as of the measurement date to the contract rate of the underlying futures and/or swap contracts.
Insurance contracts - The insurance contracts are invested in a fund with guaranteed minimum returns.  The fair values of these contracts are based on the net asset value underlying the contracts.
Debt Securities—The fair value of debt securities is determined by direct quoted market prices on regulated financial exchanges.
Equity Securities—The fair value of equity securities is determined by direct quoted market prices on regulated financial exchanges. 
 
Fair Value Measurements Using Significant
Unobservable Inputs (Level 3)
 
Real Estate Trust Fund    
 
Hedge Funds    
 
Insurance Contracts
 
(in millions)
Beginning balance at December 31, 2011
$
43

 
$
81

 
$
—

Actual return on plan assets:
 
 
 
 
 
Relating to assets still held at the reporting date
(1
)
 
4

 
—

Assets assumed in acquisition
—

 
—

 
3

Purchases, sales, and settlements
—

 
6

 
—

Ending balance at December 31, 2012
$
42

 
$
91

 
$
3

Actual return on plan assets:
 
 
 
 
 
Relating to assets still held at the reporting date
2

 
4

 
—

Purchases, sales, and settlements
1

 
(5
)
 
1

Ending balance at December 31, 2013
$
45

 
$
90

 
$
4

Commitments And Contingencies
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 December 31, 2013 and December 31, 2012, the undiscounted reserve for environmental investigation and remediation was approximately $21 million (of which $3 million was recorded in accrued liabilities and $18 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 December 31, 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 December 31, 2013, the majority of claims asserted against Delphi in Brazil relate to such litigation. The remaining claims in Brazil relate to commercial and labor litigation with private parties. As of December 31, 2013, claims totaling approximately $200 million (using December 31, 2013 foreign currency rates) have been asserted against Delphi in Brazil. As of December 31, 2013, the Company maintains accruals for these asserted claims of $31 million (using December 31, 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.
Operating Leases
Rental expense totaled $107 million, $99 million and $95 million for the years ended December 31, 2013, 2012 and 2011, respectively. As of December 31, 2013, Delphi had minimum lease commitments under non-cancellable operating leases totaling $467 million, which become due as follows:
Year
Minimum Future
Operating Lease Commitments
 
(in millions)
2014
$
108

2015
91

2016
77

2017
61

2018
42

Thereafter
88

Total
$
467

Income Taxes
Income Taxes
INCOME TAXES
Income before income taxes and equity income for U.S. and non-U.S. operations are as follows:
 
Year ended
December 31,
2013
 
Year ended
December 31,
2012
 
Year ended
December 31,
2011
 
(in millions)
U.S. income
$
233

 
$
470

 
$
149

Non-U.S. income
1,290

 
875

 
1,357

Income before income taxes and equity income
$
1,523

 
$
1,345

 
$
1,506


The provision (benefit) for income taxes is comprised of:
 
Year ended
December 31,
2013
 
Year ended
December 31,
2012
 
Year ended
December 31,
2011
 
(in millions)
Current income tax expense:
 
 
 
 
 
U.S. federal
$
53

 
$
71

 
$
104

Non-U.S.
247

 
199

 
232

U.S. state and local
6

 
5

 
5

Total current
306

 
275

 
341

Deferred income tax (benefit) expense, net:
 
 
 
 
 
U.S. federal
(28
)
 
24

 
(45
)
Non-U.S.
(21
)
 
(88
)
 
12

U.S. state and local
(1
)
 
1

 
(3
)
Total deferred
(50
)
 
(63
)
 
(36
)
Total income tax provision
$
256

 
$
212

 
$
305


The current income tax payable was reduced by $1 million, $0 million and $0 million in the years ended December 31, 2013, 2012 and 2011, respectively, for excess tax deductions attributable to stock-based compensation. The related income tax benefits are recorded as increases to additional paid-in capital.
Cash paid or withheld for income taxes was $276 million, $280 million and $303 million for the years ended December 31, 2013, 2012 and 2011, respectively.
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:
 
 
Year Ended December 31,
 
 
2013
 
2012
 
2011
 
 
(in millions)
Notional U.S. federal income taxes at statutory rate
 
$
533

 
$
471

 
$
527

Income taxed at other rates
 
(281
)
 
(200
)
 
(225
)
Change in valuation allowance
 
6

 
(29
)
 
(52
)
Other change in tax reserves
 
(13
)
 
(13
)
 
17

Withholding taxes
 
56

 
22

 
56

Tax credits
 
(58
)
 
(13
)
 
(26
)
Change in tax law
 
15

 
6

 
13

Tax settlements
 
—

 
(26
)
 
—

Other adjustments
 
(2
)
 
(6
)
 
(5
)
Total income tax expense
 
$
256

 
$
212

 
$
305

Effective tax rate
 
17
%
 
16
%
 
20
%

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. Included in the non-U.S. incomes taxes at other rates are tax incentives obtained in various non-U.S. countries, primarily the Hi-Tech Enterprise status in China, the Special Economic Zone exemption in Turkey and the Maquiladora regime in Mexico of $75 million in 2013, $41 million in 2012, and $64 million in 2011, and tax benefit for income earned in jurisdictions where a valuation allowance has been recorded. The Company currently benefits from tax holidays in various non-U.S. jurisdictions with expiration dates from 2015 through 2023. The income tax benefits attributable to these tax holidays are approximately $23 million ($0.07 per share) in 2013, $13 million ($0.04 per share) in 2012 and $20 million ($0.05 per share) in 2011.
The American Taxpayer Relief Act of 2012 was enacted on January 2, 2013, which retroactively reinstated 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 year ended December 31, 2013 was impacted by a tax 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 year ended December 31, 2013 due to the resultant impact on the net deferred tax asset balances. Additionally, the effective tax rate in the year ended December 31, 2013 was impacted by a reduction in tax reserves of $13 million, partially offset by an increase in withholding taxes due to overall increased earnings and full year inclusion of MVL activity in 2013.
The effective tax rate in the year ended December 31, 2012 was impacted by the release of $29 million of valuation allowances, a favorable tax settlement of $26 million, a $30 million reduction in tax reserves due to resolution of open issues with tax authorities, offset by an increase of $17 million primarily related to uncertain tax positions outside the United States and an increase of $6 million related to a reduction to the corporate income tax rate in the U.K. from 25% to 23%. The effective tax rate in the year ended December 31, 2011 was impacted by the release of $52 million of valuation allowances, offset by an increase of $10 million in withholding tax expense primarily related to the funding of the redemption of all the outstanding Class A and Class C membership interests in Delphi Automotive LLP and $27 million related to changes in our assertion with respect to our intent to repatriate foreign earnings in certain countries.

Deferred Income Taxes
The Company accounts for income taxes and the related accounts under the liability method. Deferred income tax assets and liabilities reflect the impact of temporary differences between amounts of assets and liabilities for financial reporting purposes and the bases of such assets and liabilities as measured by tax laws. Significant components of the deferred tax assets and liabilities are as follows:
 
December 31,
 
2013
 
2012
 
(in millions)
Deferred tax assets:
 
 
 
Pension
$
208

 
$
200

Employee benefits
28

 
19

Net operating loss carryforwards
614

 
471

Warranty and other liabilities
125

 
127

Other
126

 
147

Total gross deferred tax assets
1,101

 
964

Less: valuation allowances
(642
)
 
(502
)
Total deferred tax assets (1)
$
459

 
$
462

Deferred tax liabilities:
 
 
 
Fixed assets
$
39

 
$
48

Tax on unremitted profits of certain foreign subsidiaries
59

 
31

Intangibles
97

 
151

Total gross deferred tax liabilities
195

 
230

Net deferred tax assets
$
264

 
$
232

(1)
Reflects gross amount before jurisdictional netting of deferred tax assets and liabilities.
Net current and non-current deferred tax assets and liabilities are included in the consolidated balance sheets as follows:
 
December 31,
 
2013
 
2012
 
(in millions)
Current assets
$
133

 
$
148

Current liabilities
(1
)
 
(12
)
Long-term assets
283

 
281

Long-term liabilities
(151
)
 
(185
)
Total deferred tax asset
$
264

 
$
232


The net deferred tax assets of $264 million as of December 31, 2013 are primarily comprised of deferred tax asset amounts in the U.K., Germany, and China.
Net Operating Loss and Tax Credit Carryforwards
As of December 31, 2013, the Company has gross deferred tax assets of approximately $614 million for non-U.S. net operating loss (“NOL”) carryforwards with recorded valuation allowances of $552 million. These NOL’s are available to offset future taxable income and realization is dependent on generating sufficient taxable income prior to expiration of the loss carryforwards. The NOL’s primarily relate to France, Luxembourg, and Spain. The NOL carryforwards have expiration dates ranging from one year to an indefinite period.
Deferred tax assets include $31 million and $30 million of tax credit carryforwards with recorded valuation allowances of $25 million and $24 million at December 31, 2013 and 2012, respectively. These tax credit carryforwards expire in 2014 through 2023.
Cumulative Undistributed Foreign Earnings
No income taxes have been provided on indefinitely reinvested earnings of certain foreign subsidiaries aggregating $92 million at December 31, 2013. The amount of the unrecognized deferred income tax liability with respect to such earnings is $27 million.
Withholding taxes of $59 million have been accrued on undistributed earnings that are not indefinitely reinvested and are primarily related to China, South Korea, Honduras, and Morocco. There are no other material liabilities for income taxes on the undistributed earnings of foreign subsidiaries, as the Company has concluded that such earnings are either indefinitely reinvested or should not give rise to additional income tax liabilities as a result of the distribution of such earnings.
Uncertain Tax Positions
The Company recognizes tax benefits only for tax positions that are more likely than not to be sustained upon examination by tax authorities. The amount recognized is measured as the largest amount of benefit that is greater than 50 percent likely of being realized upon ultimate settlement. Unrecognized tax benefits are tax benefits claimed in the Company's tax returns that do not meet these recognition and measurement standards.
A reconciliation of the gross change in the unrecognized tax benefits balance, excluding interest and penalties is as follows: 
 
Year ended
December 31,
2013
 
Year ended
December 31,
2012
 
Year ended
December 31,
2011
 
(in millions)
Balance at beginning of year
$
74

 
$
99

 
$
82

Liabilities assumed in acquisition
—

 
2

 
—

Additions related to current year
—

 
3

 
43

Additions related to prior years
16

 
10

 
7

Reductions related to prior years
(25
)
 
(40
)
 
(24
)
Reductions due to expirations of statute of limitations
(4
)
 
—

 
(6
)
Settlements-cash
—

 
—

 
(3
)
Balance at end of year
$
61

 
$
74

 
$
99


A portion of the Company's unrecognized tax benefits would, if recognized, reduce its effective tax rate. The remaining unrecognized tax benefits relate to tax positions for which only the timing of the benefit is uncertain. Recognition of these tax benefits would reduce the Company’s effective tax rate only through a reduction of accrued interest and penalties. As of December 31, 2013 and 2012, the amounts of unrecognized tax benefit that would reduce the Company’s effective tax rate were $42 million and $57 million, respectively. In addition, $22 million and $23 million for 2013 and 2012, respectively, would be offset by the write-off of a related deferred tax asset, if recognized.
The Company recognizes interest and penalties relating to unrecognized tax benefits as part of income tax expense. Total accrued liabilities for interest and penalties were $15 million and $18 million at December 31, 2013 and 2012, respectively. Total interest and penalties recognized as part of income tax expense was a $3 million benefit, a $3 million expense and a $3 million benefit for the years ended December 31, 2013, 2012 and 2011, respectively.
The Company files tax returns in multiple jurisdictions and is subject to examination by taxing authorities throughout the world. Taxing jurisdictions significant to Delphi include the China, Brazil, France, Germany, Mexico, Poland, the U.S. and the U.K. Open tax years related to these taxing jurisdictions remain subject to examination and could result in additional tax liabilities. In general, the Company's affiliates are no longer subject to income tax examinations by foreign tax authorities for years before 2001. It is reasonably possible that audit settlements, the conclusion of current examinations or the expiration of the statute of limitations in several jurisdictions could impact the Company’s unrecognized tax benefits.
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. In light of the Notice, 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 December 31, 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 Income Per Share
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.
Immediately prior to the exchange of membership interests for ordinary shares and the completion of the initial public offering, there were 344,495 Class B and 24,000 Class E-1 membership interests outstanding. Substantially all of the membership interests were exchanged for 326,306,261 ordinary shares and 1,938,249 ordinary shares of Delphi Automotive PLC, respectively. Additionally, in conjunction with the Acquisition on October 6, 2009, there were also 1,750,000 Class A and 100,000 Class C membership interests issued and outstanding until March 31, 2011, when all Class A and Class C membership interests were redeemed. See “Class A and Class C Membership Interests Redemption” below for additional information.
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 21. Share-Based Compensation for additional information. For all periods presented, the effect of the VCP awards was anti-dilutive and therefore excluded from the calculation of diluted net income per share, as discussed in Note 21. Share-Based Compensation.
Weighted Average Shares
As described above, on November 22, 2011, Delphi Automotive PLC completed the exchange of all of the outstanding equity of Delphi Automotive LLP for 328,244,510 ordinary shares in Delphi Automotive PLC. For the year ended December 31, 2011, the net income per share is presented giving effect to this transaction on a retrospective basis. In addition, weighted average shares outstanding for the year ended December 31, 2011 were impacted by the following transactions:
•
The redemption of all outstanding Class A and Class C membership interests for $4,565 million on March 31, 2011.
•
The repurchase of 10,005 Class B membership interests for approximately $180 million in 2011.
•
The issuance of 24,000 Class E-1 membership interests to the Board of Managers as part of the Class E-1 Interest Incentive Plan in June 2010.
The impact of the above transactions on weighted average shares outstanding follows:
 
Year Ended December 31, 
2011
 
(shares in millions)
Weighted average ordinary shares outstanding as result of the initial public offering
328.24

Redemption of Class A & C membership interests (1)
86.11

Repurchase of Class B membership interests
6.91

Weighted average ordinary shares outstanding for the period
421.26


 (1) The Class A and C membership interests redeemed on March 31, 2011 represented approximately 51% of all outstanding membership interests at the Acquisition Date. The remaining 49% membership interests consisted primarily of Class B membership interests. The 328.24 million ordinary shares outstanding as of the date of the initial public offering were adjusted to reflect ordinary shares outstanding for the Class A and C membership interests prior to March 31, 2011.
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:
 
Year Ended December 31,
 
2013
 
2012
 
2011
 
(in millions, except per share data)
Numerator:
 
 
 
 
 
Net income attributable to Delphi
$
1,212

 
$
1,077

 
$
1,145

Denominator:

 

 
 
Weighted average ordinary shares outstanding, basic
310.82

 
322.94

 
421.26

Dilutive shares related to RSUs
0.98

 
0.35

 
—

Weighted average ordinary shares outstanding, including dilutive shares
311.80

 
323.29


421.26

Net income per share attributable to Delphi:
 
 
 
 
 
Basic
$
3.90

 
$
3.34

 
$
2.72

Diluted
$
3.89

 
$
3.33

 
$
2.72

Anti-dilutive securities share impact:
—

 
3.15

 
1.86


Share Repurchase Program
In January 2012, the Board of Directors authorized a share repurchase program of up to $300 million of ordinary shares, 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 shares 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 is as follows:
 
Year Ended December 31,
 
2013
 
2012
Total Number of Shares Repurchased
9,106,434

 
13,421,742

Average Price Paid per Share
$
50.14

 
$
30.02

Total (in millions)
$
457

 
$
403


Approximately $190 million remains 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.
New Share Repurchase Program
In January 2014, the Board of Directors authorized a new share repurchase program of up to $1 billion of ordinary shares. This share repurchase program provides for share purchases in the open market or in privately negotiated transactions, depending on share price, market conditions and other factors, as determined by the Company. This program will commence following the completion of the Company's September 2012 share repurchase program described above.
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 year ended December 31, 2013, the Company declared and paid cash dividends per common share as follows:
 
2013
 
Dividend
 
Amount
Three months ended:
 Per Share
 
(in millions)
December 31
$
0.17

 
$
52

September 30
0.17

 
53

June 30
0.17

 
53

March 31
0.17

 
53

Total
$
0.68

 
$
211


In addition, in January 2014, the Board of Directors increased the annual dividend rate to $1.00 per ordinary share, and declared a regular quarterly cash dividend of $0.25 per ordinary share, payable on February 27, 2014 to shareholders of record at the close of business on February 18, 2014.
Membership Interests
In conjunction with the Acquisition on October 6, 2009, all outstanding shares of stock of the Predecessor were canceled and Delphi Automotive LLP issued membership interests. On October 6, 2009, Delphi Automotive LLP and GM collectively acquired substantially all of the assets of the Predecessor, the Class A, B and C membership interests were issued to GM, certain investors, including former creditors of the Predecessor, and the PBGC, respectively, and the debt outstanding from the debtor-in-possession (“DIP”) lenders was settled. The Class A and Class B membership interests entitled the holders to non-controlling representation on Delphi Automotive LLP’s Board of Managers, and, along with Class C and Class E-1 membership interests, entitled the holders to potential, future distributions by Delphi Automotive LLP.
The fair value of the membership interests issued on the Acquisition Date was allocated between the respective classes based on the distribution provisions of the Second LLP Agreement. The distribution percentages varied by class of membership interest and by cumulative amount distributed, and, between classes, were not related or proportional to the number of membership interests held.






The following table summarizes the membership interests issued as of December 31, 2010:
Class
 
Members
 
Membership
Interests Issued
 
Date
Issued
 
Membership
Interests as of
December 31,
2010
 
 
 
 
 
 
 
 
(in millions)
A
 
GM
 
1,750,000

 
October 2009
 
$
2,083

B
 
DIP Lenders(1)
 
354,500

 
October 2009
 
2,816

C
 
PBGC
 
100,000

 
October 2009
 
646

E-1
 
Board of Managers
 
24,000

 
June 2010
 
5

 
 
 
 
 
 
Total
 
$
5,550

(1)
Included a controlling equity stake for affiliates of Silver Point Capital and Elliot Management. Subsequent to October 6, 2009, Class B membership interests traded on the 144A market and, therefore, the holders of Class B membership interests changed over time.
Class A and Class C Membership Interests Redemption
On March 31, 2011, all 1,750,000 outstanding Class A membership interests held by GM and 100,000 Class C membership interests held by the PBGC were redeemed for $3,791 million and $594 million, respectively. In conjunction with the redemption transaction, Delphi Automotive LLP incurred transaction-related fees and expenses totaling approximately $180 million, including amounts paid to certain membership interest holders.
The amounts paid to redeem the outstanding Class A and Class C membership interests were $1,736 million in excess of the total recorded carrying value of the Class A and Class C membership interests. The excess was reflected as a pro-rata reduction to the recorded carrying value of the remaining membership interests (the Class B and Class E-1 membership interests).
Class B Membership Interests Repurchase Program
In August 2011, Delphi Automotive LLP’s Board of Managers approved a repurchase program of Class B membership interests. During the year ended December 31, 2011, 10,005 Class B membership interests were repurchased for a cumulative cost of approximately $180 million at an average price per membership interests unit of $17,904. This was recorded as a reduction to the carrying value of the Class B membership interests.
Distribution
Under the terms of the Fourth LLP Agreement, if the Board of Managers determined that there was available cash (as defined in the Fourth LLP Agreement), the Class B and Class E-1 members would be entitled to receive a distribution for taxes and pursuant to the cumulative distribution provisions of available cash to enable the members to pay projected tax liabilities attributable to tax book profits and losses by Delphi that are attributable to their membership interests. In October 2011, Delphi Automotive LLP’s Board of Managers approved the payment of a distribution, primarily in respect of taxes, of approximately $95 million, which was paid on December 5, 2011, to members who held membership interests as of the close of business on October 31, 2011. Tax distributions were treated as an advance of amounts otherwise distributable to the members.
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 LLP Agreement.
In conjunction with the adoption in 2010 of the 2010 Board of Managers Class E-1 Interest Incentive Plan and the VCP, both of which were long-term incentive plans designed to assist the Company in attracting, retaining, motivating and rewarding the Board of Managers and key employees of the Company, and promoting the creation of long-term value, the Fourth LLP Agreement was amended to address the Class E-1 membership interests and the VCP. The Fourth LLP Agreement includes provisions related to potential distributions, or alternatively, allocations of equity, to the Class E-1 members and employee incentive plans based on rates/amounts as defined in the agreement (approximately 3.7% for the first approximately $1.6 billion of distributions and approximately 3.4% for distributions thereafter, subject to adjustment for the Class B membership interests repurchased) with ratable reductions in the distribution percentages applied to Class B members.
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 December 31, 2013.
Allocation of Net Income (Loss) to Membership Interest Classes
Total membership interest equity as of October 6, 2009 was allocated to the respective classes of membership interests across all tranches of the cumulative distribution schedule as defined by the Second LLP Agreement. In subsequent periods total membership interest equity at the end of the period was allocated to the respective classes of membership interests across all tranches of the cumulative distribution schedule as defined by the LLP agreement effective in that period. The allocation of the net income (loss) for the period is the difference between the ending and beginning of period allocation of membership interest equity as adjusted for the payment of a distribution of approximately $95 million, which was paid on December 5, 2011, to members who held membership interests as of the close of business on October 31, 2011.
The following table summarizes the allocation of net income (loss) to the membership interest classes for the 2011 period prior to the initial public offering.
 
Period from January 1, 2011 to Initial Public Offering Net Income Attributable to Membership
Interests
Class
(in millions)
A
$
76

B
930

C
25

E-1
4

 
$
1,035

Changes in Accumulated Other Comprehensive Income
Changes in Accumulated Comprehensive Income
CHANGES IN ACCUMULATED OTHER COMPREHENSIVE INCOME (LOSS)
The changes in accumulated other comprehensive income (loss) attributable to Delphi (net of tax) are as follows:
 
Year Ended December 31, 2013
 
Year Ended December 31, 2012
 
Year Ended December 31, 2011
 
(in millions)
Foreign currency translation adjustments:
 
 
 
 
 
Balance at beginning of year
$
(62
)
 
$
(120
)
 
$
(22
)
Aggregate adjustment for the year
45

 
58

 
(98
)
Balance at end of year
(17
)
 
(62
)
 
(120
)
 
 
 
 
 
 
Gains (losses) on derivatives:
 
 
 
 
 
Balance at beginning of year
$
14

 
$
(45
)
 
$
53

Other comprehensive income before reclassifications (net tax effect of $0 million, $33 million and $40 million)
(14
)
 
57

 
(69
)
Reclassification to income (net tax effect of $5 million, $0 million and $17 million)
2

 
2

 
(29
)
Balance at end of year
2

 
14

 
(45
)
 
 
 
 
 
 
Pension and postretirement plans:
 
 
 
 
 
Balance at beginning of year
$
(189
)
 
$
(18
)
 
$
59

Other comprehensive income before reclassifications (net tax effect of $7 million, $57 million and $22 million)
(40
)
 
(171
)
 
(77
)
Reclassification to income (net tax effect of $2 million, $0 million and $0 million)
7

 
—

 
—

Balance at end of year
(222
)
 
(189
)
 
(18
)
 
 
 
 
 
 
Accumulated other comprehensive (loss) income, end of year
$
(237
)
 
$
(237
)
 
$
(183
)
Reclassifications from accumulated other comprehensive income to income for the year ended December 31, 2013 were as follows:
Reclassification out of Accumulated Other Comprehensive Income
Details about Accumulated Other Comprehensive Income Components
 
Year Ended December 31, 2013
 
Affected Line Item in the Statement of Operations
 
 
(in millions)
 
 
Gains (losses) on derivatives:
 
 
 
Commodity derivatives
 
$
(22
)
 
Cost of sales
Foreign currency derivatives
 
23

 
Cost of sales
Foreign currency derivatives
 
2

 
Other income
 
 
3

 
Total income before income taxes
 
 
(5
)
 
Income tax expense
 
 
(2
)
 
Net loss
 
 
—

 
Net income attributable to noncontrolling interest
 
 
$
(2
)
 
Net loss attributable to Delphi
 
 
 
 
 
Pension and postretirement plans:
 
 
 
 
Actuarial gains/(losses)
 
$
(9
)
 
(1)
 
 
(9
)
 
Total loss before income taxes
 
 
2

 
Income tax benefit
 
 
(7
)
 
Net loss
 
 
—

 
Net income attributable to noncontrolling interest
 
 
$
(7
)
 
Net loss attributable to Delphi
 
 
 
 
 
Total reclassifications for the year
 
$
(9
)
 
 
(1)
These accumulated other comprehensive loss components are included in the computation of net periodic pension cost (see Note 12. Pension Benefits for additional details).
Derivatives And Hedging Activities
Derivatives And Hedging Activities
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 December 31, 2013, Delphi has entered into derivative instruments to hedge cash flows extending out to January 2016.
As of December 31, 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
Hedged
 
Unit of
Measure
 
Notional Amount
(Approximate USD Equivalent)
 
 
(in thousands)
 
(in millions)
Copper
 
80,695

 
pounds
 
$
265

Primary Aluminum
 
37,263

 
pounds
 
30

Secondary Aluminum
 
21,458

 
pounds
 
20

Foreign Currency
 
Quantity
Hedged
 
Unit of
Measure
 
Notional Amount
(Approximate USD Equivalent)
 
 
(in millions)
Mexican Peso
 
10,144

 
MXN
 
$
775

Euro
 
184

 
EUR
 
255

New Turkish Lira
 
229

 
TRY
 
105

Polish Zloty
 
267

 
PLN
 
90

Brazilian Real
 
188

 
BRL
 
80

Hungarian Forint
 
12,586

 
HUF
 
60

Chinese Yuan Renminbi
 
177

 
CNY
 
30

Romanian Leu
 
99

 
RON
 
30


The Company had additional commodity and foreign currency forward contracts that individually amounted to less than $10 million.
The fair value of derivative financial instruments recorded in the consolidated balance sheets as of December 31, 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
 
December 31,
2013
 
Balance Sheet Location
 
December 31,
2013
 
December 31,
2013
 
(in millions)
 
 
Designated derivatives instruments:
 
 
Commodity derivatives
Other Current Assets
 
$
2

 
Accrued Liabilities
 
$
9

 
 
Foreign currency derivatives*
Other Current Assets
 
16

 
Other Current Assets
 
3

 
13

Foreign currency derivatives*
Accrued Liabilities
 
3

 
Accrued Liabilities
 
10

 
(7
)
Commodity derivatives
Other Long-Term Assets
 
1

 
Other Long-Term Liabilities
 
2

 
 
Foreign currency derivatives*
Other Long-Term Assets
 
5

 
Other Long-Term Assets
 
1

 
4

Foreign currency derivatives*
Other Long-Term Liabilities
 
2

 
Other Long-Term Liabilities
 
6

 
(4
)
Total
 
 
$
29

 
 
 
$
31

 
 
Derivatives not designated:
 
 
 
 
 
 
 
 
 
Foreign currency derivatives
Other Current Assets
 
$
3

 
Other Current Assets
 
3

 
—

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 December 31, 2013 and a 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 December 31, 2013 is primarily due to unfavorable movements in the forward rates of certain foreign currencies and commodities.
The pre-tax effect of derivative financial instruments in the consolidated statement of operations and consolidated statement of comprehensive income for the year ended December 31, 2013 is as follows:
Year Ended December 31, 2013
 
(Loss) Gain
Recognized in
OCI (Effective
Portion)
 
(Loss) Gain
Reclassified
from OCI
into Income
(Effective
Portion)
 
Gain Recognized
in Income
(Ineffective
Portion Excluded
from Effectiveness
Testing)
 
 
(in millions)
Designated derivatives instruments:
 
 
 
 
 
 
Commodity derivatives
 
$
(25
)
 
$
(22
)
 
$
—

Foreign currency derivatives
 
11

 
25

 
—

Total
 
$
(14
)
 
$
3

 
$
—

 
Gain
Recognized in
Income
Derivatives not designated:
 
Commodity derivatives
$
—

Foreign currency derivatives
1

Total
$
1

The pre-tax effect of derivative financial instruments in the consolidated statement of operations and consolidated statement of comprehensive income for the year ended December 31, 2012 is as follows:
Year Ended December 31, 2012
 
Gain
Recognized in
OCI (Effective
Portion)
 
(Loss) Gain
Reclassified
from OCI
into Income
(Effective
Portion)
 
Gain Recognized
in Income
(Ineffective
Portion Excluded
from Effectiveness
Testing)
 
 
(in millions)
Designated derivatives instruments:
 
 
 
 
 
 
Commodity derivatives
 
$
11

 
$
(12
)
 
$
—

Foreign currency derivatives
 
79

 
10

 
1

Total
 
$
90

 
$
(2
)
 
$
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 in the consolidated statements of operations for the years ended December 31, 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 years ended December 31, 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. Losses included in accumulated OCI as of December 31, 2013 were $4 million ($2 million net of tax). Of this income, approximately $1 million is expected to be included in cost of sales within the next 12 months, $2 million is expected to be included in other income within the next 12 months and $1 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 approximately $0 million and $1 million for the years ended December 31, 2013 and 2012, respectively.
As more fully disclosed in Note 20. Acquisitions and Divestitures, Delphi completed the acquisition of MVL on October 26, 2012. In conjunction with that transaction, in June 2012, the Company entered into option contracts with notional amounts totaling €250 million to hedge portions of the currency risk associated with the cash payment for the planned acquisition at a cost of $9 million. Pursuant to the requirements of ASC 815, Derivatives and Hedging, the options are unable to qualify as hedges for accounting purposes, and therefore, changes in the fair value of the options are recognized in other income (expense), net. The options were sold in October 2012 in conjunction with the closing of the transaction. In the year ended December 31, 2012, the change in fair value resulted in a $3 million loss.
Fair Value Of Financial Instruments
Fair Value Of Financial Instruments
FAIR VALUE OF FINANCIAL INSTRUMENTS
Fair Value Measurements
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 December 31, 2013 and December 31, 2012, Delphi was in a net derivative liability position of $2 million and net derivative 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 December 31, 2013 and December 31, 2012, Delphi had the following assets measured at fair value on a recurring basis:
 
 
Total      
 
Quoted Prices in
Active Markets
Level 1
 
Significant Other
Observable Inputs
Level 2
 
Significant
Unobservable
Inputs
Level 3
 
 
(in millions)
As of December 31, 2013
 
 
Commodity derivatives
 
$
3

 
$
—

 
$
3

 
$
—

Foreign currency derivatives
 
17

 
—

 
17

 
—

Total
 
$
20

 
$
—

 
$
20

 
$
—

As of December 31, 2012:
 
 
 
 
 
 
 
 
Commodity derivatives
 
$
3

 
$
—

 
$
3

 
$
—

Foreign currency derivatives
 
24

 
—

 
24

 
—

Total
 
$
27

 
$
—

 
$
27

 
$
—


As of December 31, 2013 and December 31, 2012, Delphi had the following liabilities measured at fair value on a recurring basis:
 
 
Total      
 
Quoted Prices in
Active Markets
Level 1
 
Significant Other
Observable Inputs
Level 2
 
Significant
Unobservable
Inputs
Level 3
 
 
(in millions)
As of December 31, 2013
 
 
Commodity derivatives
 
$
11

 
$
—

 
$
11

 
$
—

Foreign currency derivatives
 
11

 
—

 
11

 
—

Total
 
$
22

 
$
—

 
$
22

 
$
—

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 foreign subsidiaries, the Tranche A Term Loan, the Tranche B Term Loan, the New Senior Notes and the 2013 Senior Notes. The fair value of debt is based on quoted market prices for instruments with public market data or the current book value for instruments without a quoted public market price (Level 2). As of December 31, 2013 and December 31, 2012, the total of debt was recorded at $2,412 million and $2,464 million, respectively, and had estimated fair values of $2,519 million and $2,557 million, respectively. For all other financial instruments recorded at December 31, 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 year ended December 31, 2013. Delphi recognized non-cash asset impairment charges of $15 million in cost of sales during the year ended December 31, 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
OTHER INCOME, NET
Other income, net included:
 
Year Ended December 31,
 
2013
 
2012
 
2011
 
(in millions)
Interest income
$
14

 
$
17

 
$
31

Costs associated with initial public offering
—

 
—

 
(44
)
Impairment - investment in available-for-sale security
—

 
—

 
(6
)
Loss on extinguishment of debt
(39
)
 
(1
)
 
(16
)
Costs associated with MVL acquisition
—

 
(13
)
 
—

Other, net
7

 
2

 
20

Other (expense) income, net
$
(18
)
 
$
5

 
$
(15
)

As further discussed in Note 11. Debt, during the year ended December 31, 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.
During the year ended December 31, 2012, Delphi incurred approximately $13 million in transaction costs related to the acquisition of MVL that was completed in October 2012.
During the year ended December 31, 2011, Delphi incurred approximately $44 million in transaction costs related to our initial public offering completed in November 2011. As further discussed in Note 11. Debt, Delphi paid $47 million and $177 million of the Tranche A Term Loan and Tranche B Term Loan, respectively, and paid $57 million to extinguish senior unsecured five-year notes and recognized a loss on extinguishment of debt of $16 million during the year ended December 31, 2011.
Acquisitions And Divestitures
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 (approximately 12% to Delphi that will 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.
Upon completing the acquisition, Delphi incurred related transaction expenses totaling approximately $13 million, which were recorded in other expenses in the statement of operations. The cash payments required to close the transaction were funded using existing cash on hand, including $363 million drawn under the Credit Agreement and additional European factoring.
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 the Company's reported results for any period presented, and as a result no pro forma financial statements were 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.
Acquisition of Manufacturer Specialized Diesel Testing Equipment
In May 2011, Delphi’s Powertrain segment completed the acquisition of a manufacturer of specialized diesel testing equipment for a purchase price of $19 million. The acquisition was not material to the Company’s consolidated financial statements. In connection with the acquisition, the Company recorded goodwill of approximately $8 million. The purchase price allocation was finalized to reflect final valuation studies.
Sale of Daesung Investment
On January 31, 2011, Delphi completed the sale of its 49.5% ownership interest in Daesung Electric, Co., Ltd. Delphi received $35 million in net proceeds and recognized a gain on divestiture of $8 million, which is included in equity income, net of tax, in the consolidated statement of operations for the year ended December 31, 2011.
Other
In November 2013, Delphi executed an asset purchase agreement to acquire certain assets, consisting primarily of machinery and equipment at fair value, from Delphi Packard Electric Systems Co., Ltd., a majority-owned joint venture, for approximately $174 million. Delphi previously had effective control of the joint venture and consolidated its results. The acquisition was accounted for as a common control transaction at carrying amounts, with the excess of the consideration paid over the carrying value of the assets acquired attributable to the non-controlling interest of the joint venture recorded as a decrease in the additional paid-in capital of the Company.
During the year ended December 31, 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.
Share-Based Compensation
Share-Based Compensation
SHARE-BASED COMPENSATION
Long Term Incentive Plan
In November 2011, 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 share holding 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 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 the respective three-year performance period.
(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, 2012
 
51

 
19.90

Granted
 
1,953

 
31.08

Vested
 
(51
)
 
19.90

Forfeited
 
(54
)
 
30.81

Outstanding, December 31, 2012
 
1,899

 
31.09

Granted
 
1,526

 
41.72

Vested
 
(285
)
 
29.26

Forfeited
 
(222
)
 
34.55

Outstanding, December 31, 2013
 
2,918

 
36.55


Delphi recognized compensation expense of $46 million ($35 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 years ended December 31, 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 December 31, 2013, unrecognized compensation expense on a pretax basis of approximately $62 million is anticipated to be recognized over a weighted average period of approximately 1.75 years. For the years ended December 31, 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.
2010 Board of Managers Equity Award
In June 2010, the 2010 Board of Managers Class E-1 Interest Incentive Plan (the “Plan”) was authorized in order to attract and reward board members and to promote the creation of long-term value for interest holders of Delphi. On June 30, 2010, 24,000 restricted interests of a newly created class of membership interests, Class E-1 membership interests, were issued to board members. The restricted interests were initially subject to continued service through applicable vesting dates through November 1, 2012. However, in conjunction with the completion of the initial public offering in November 2011, these interests were exchanged for 1,938,249 ordinary shares of Delphi Automotive PLC.
At the time of issuance, the fair market value of the Class E-1 membership interests was estimated to be $19 million, based on a contemporaneous valuation performed by an independent valuation specialist, utilizing generally accepted valuation approaches. Beginning in the third quarter of 2010, Delphi recognized compensation cost on a straight-line basis. Compensation expense recognized during the year ended December 31, 2011 totaled $14 million, net of taxes of $0 million. There were no cash flow impacts for the year ended December 31, 2011.
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. 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 years ended December 31, 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 years ended December 31, 2013, 2012, and 2011 totaled $0 million ($0 million, net of tax), $140 million ($112 million, net of tax), and $76 million ($61 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.
Significant Factors, Assumptions, and Methodologies Used in Estimating Fair Value of Enterprise Value for VCP Awards and Fair Value of E-1 Membership Interests
The estimated fair value of the Class E-1 membership interests were based on a contemporaneous valuation performed as of the grant date. The liability awards under the VCP were based on contemporaneous valuations performed periodically by an independent valuation specialist. Both the Class E-1 membership interests and VCP valuations utilized appropriate weighting of the market and income approaches.
Market Approach: The market approach measures the value of a company through analysis of recent sales or offerings of comparable companies. Based on analysis of guideline public companies and guideline merged or acquired companies, Delphi utilized 2010 EBITDA and 2011 EBITDA multiples of 4.5x-6.25x to value the Class E-1 membership interests and VCP awards in periods prior to the completion of the initial public offering.
In addition to the guideline public company and guideline merged or acquired company approaches, the Company considered the trading price of its Class B membership interests by qualified institutional investors in determining the enterprise value of the Company in periods prior to the completion of the initial public offering.
Income Approach: The income approach derives the value of a company based on assumptions about the company’s future stream of cash flows. Delphi provided its independent valuation specialist with projected net sales, expenses and cash flows for the years ended December 31, 2010, 2011 and 2012 for the Class E-1 awards and for the years ended December 31, 2010, 2011, 2012 and 2013 for the VCP awards. These financial projections represented management’s best estimate at the time of the contemporaneous valuations. Discount rates used to determine the present value of future cash flows were based on the weighted average cost of capital which ranged from 11.6%-13.7%.
Supplemental Guarantor And Non-Guarantor Condensed Consolidating Financial Statements
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 which are directly or indirectly 100% owned by the Company (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 11. 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 Year Ended December 31, 2013
 
 
Parent
Companies
 
Subsidiary
Issuer
 
Guarantor
Subsidiaries
 
Non-
Guarantor
Subsidiaries
 
Eliminations
 
Consolidated
 
 
(in millions)
Net sales
 
$
—

 
$
—

 
$
5,446

 
$
12,355

 
$
(1,338
)
 
$
16,463

Operating expenses:
 
 
 
 
 
 
 
 
 
 
 
 
Cost of sales
 
—

 
—

 
4,725

 
10,204

 
(1,362
)
 
13,567

Selling, general and administrative
 
87

 
—

 
202

 
673

 
1

 
963

Amortization
 
—

 
—

 
54

 
50

 
—

 
104

Restructuring
 
—

 
—

 
16

 
129

 
—

 
145

Total operating expenses
 
87

 
—

 
4,997

 
11,056

 
(1,361
)
 
14,779

Operating (loss) income
 
(87
)
 
—

 
449

 
1,299

 
23

 
1,684

Interest expense
 
(51
)
 
(194
)
 
(63
)
 
(12
)
 
177

 
(143
)
Other income (expense), net
 
66

 
25

 
1

 
67

 
(177
)
 
(18
)
(Loss) income before income taxes and equity income
 
(72
)
 
(169
)
 
387

 
1,354

 
23

 
1,523

Income tax (expense) benefit
 
(5
)
 
62

 
(101
)
 
(206
)
 
(6
)
 
(256
)
(Loss) income before equity income
 
(77
)
 
(107
)
 
286

 
1,148

 
17

 
1,267

Equity in net income of affiliates
 
—

 
—

 
—

 
34

 
—

 
34

Equity in net income (loss) of subsidiaries
 
1,289

 
326

 
—

 
—

 
(1,615
)
 
—

Net income (loss)
 
1,212

 
219

 
286

 
1,182

 
(1,598
)
 
1,301

Net income attributable to noncontrolling interest
 
—

 
—

 
—

 
89

 
—

 
89

Net income (loss) attributable to Delphi
 
$
1,212

 
$
219

 
$
286

 
$
1,093

 
$
(1,598
)
 
$
1,212


Statement of Operations Year Ended December 31, 2012
 
 
Parent
Companies
 
Subsidiary
Issuer
 
Guarantor
Subsidiaries
 
Non-
Guarantor
Subsidiaries
 
Eliminations
 
Consolidated
 
 
(in millions)
Net sales
 
$
—

 
$
—

 
$
5,482

 
$
11,467

 
$
(1,430
)
 
$
15,519

Operating expenses:
 
 
 
 
 
 
 
 
 
 
 
 
Cost of sales
 
—

 
—

 
4,688

 
9,632

 
(1,459
)
 
12,861

Selling, general and administrative
 
222

 
—

 
124

 
583

 
(2
)
 
927

Amortization
 
—

 
—

 
54

 
30

 
—

 
84

Restructuring
 
—

 
—

 
16

 
155

 
—

 
171

Total operating expenses
 
222

 
—

 
4,882

 
10,400

 
(1,461
)
 
14,043

Operating (loss) income
 
(222
)
 
—

 
600

 
1,067

 
31

 
1,476

Interest expense
 
(72
)
 
(180
)
 
(54
)
 
(14
)
 
184

 
(136
)
Other income (expense), net
 
58

 
97

 
(1
)
 
35

 
(184
)
 
5

(Loss) income before income taxes and equity income
 
(236
)
 
(83
)
 
545

 
1,088

 
31

 
1,345

Income tax (expense) benefit
 
(3
)
 
31

 
(140
)
 
(94
)
 
(6
)
 
(212
)
(Loss) income before equity income
 
(239
)
 
(52
)
 
405

 
994

 
25

 
1,133

Equity in net income of affiliates
 
—

 
—

 
—

 
27

 
—

 
27

Equity in net income (loss) of subsidiaries
 
1,316

 
409

 
—

 
—

 
(1,725
)
 
—

Net income (loss)
 
1,077

 
357

 
405

 
1,021

 
(1,700
)
 
1,160

Net income attributable to noncontrolling interest
 
—

 
—

 
—

 
83

 
—

 
83

Net income (loss) attributable to Delphi
 
$
1,077

 
$
357

 
$
405

 
$
938

 
$
(1,700
)
 
$
1,077


Statement of Operations Year Ended December 31, 2011
 
 
Parent
Companies
 
Subsidiary
Issuer
 
Guarantor
Subsidiaries
 
Non-
Guarantor
Subsidiaries
 
Eliminations
 
Consolidated
 
 
(in millions)
Net sales
 
$
—

 
$
—

 
$
5,292

 
$
12,225

 
$
(1,476
)
 
$
16,041

Operating expenses:
 
 
 
 
 
 
 
 
 
 
 
 
Cost of sales
 
—

 
—

 
4,754

 
10,124

 
(1,492
)
 
13,386

Selling, general and administrative
 
118

 
—

 
272

 
511

 
—

 
901

Amortization
 
—

 
—

 
53

 
26

 
—

 
79

Restructuring
 
—

 
—

 
3

 
28

 
—

 
31

Total operating expenses
 
118

 
—

 
5,082

 
10,689

 
(1,492
)
 
14,397

Operating (loss) income
 
(118
)
 
—

 
210

 
1,536

 
16

 
1,644

Interest expense
 
(37
)
 
(101
)
 
(1
)
 
(26
)
 
42

 
(123
)
Other (expense) income, net
 
(38
)
 
27

 
3

 
36

 
(43
)
 
(15
)
(Loss) income before income taxes and equity income
 
(193
)
 
(74
)
 
212

 
1,546

 
15

 
1,506

Income tax benefit (expense)
 
3

 
27

 
(91
)
 
(238
)
 
(6
)
 
(305
)
(Loss) income before equity income
 
(190
)
 
(47
)
 
121

 
1,308

 
9

 
1,201

Equity in net income of affiliates
 
—

 
—

 
—

 
22

 
—

 
22

Equity in net income (loss) of subsidiaries
 
1,335

 
121

 
—

 
—

 
(1,456
)
 
—

Net income (loss)
 
1,145

 
74

 
121

 
1,330

 
(1,447
)
 
1,223

Net income attributable to noncontrolling interest
 
—

 
—

 
—

 
78

 
—

 
78

Net income (loss) attributable to Delphi
 
$
1,145

 
$
74

 
$
121

 
$
1,252

 
$
(1,447
)
 
$
1,145

Statement of Comprehensive Income Year Ended December 31, 2013
 
 
Parent
Companies
 
Subsidiary
Issuer
 
Guarantor
Subsidiaries
 
Non-
Guarantor
Subsidiaries
 
Eliminations
 
Consolidated
 
 
(in millions)
Net income (loss)
 
$
1,212

 
$
219

 
$
286

 
$
1,182

 
$
(1,598
)
 
$
1,301

Other comprehensive (loss) income:
 
 
 
 
 
 
 
 
 
 
 
 
Currency translation adjustments
 
—

 
—

 
—

 
49

 
—

 
49

Net change in unrecognized (loss) gain on derivative instruments, net of tax
 
—

 
—

 
(18
)
 
6

 
—

 
(12
)
Employee benefit plans adjustment, net of tax
 
—

 
—

 
5

 
(38
)
 
—

 
(33
)
Other comprehensive (loss) income
 
—

 
—

 
(13
)
 
17

 
—

 
4

Equity in other comprehensive (loss) income of subsidiaries
 
—

 
(13
)
 
—

 
—

 
13

 
—

Comprehensive income (loss)
 
1,212

 
206

 
273

 
1,199

 
(1,585
)
 
1,305

Comprehensive income attributable to noncontrolling interests
 
—

 
—

 
—

 
93

 
—

 
93

Comprehensive income (loss) attributable to Delphi
 
$
1,212

 
$
206

 
$
273

 
$
1,106

 
$
(1,585
)
 
$
1,212


Statement of Comprehensive Income Year Ended December 31, 2012
 
 
Parent
Companies
 
Subsidiary
Issuer
 
Guarantor
Subsidiaries
 
Non-
Guarantor
Subsidiaries
 
Eliminations
 
Consolidated
 
 
(in millions)
Net income (loss)
 
$
1,077

 
$
357

 
$
405

 
$
1,021

 
$
(1,700
)
 
$
1,160

Other comprehensive income (loss):
 
 
 
 
 
 
 
 
 
 
 
 
Currency translation adjustments
 
—

 
—

 
—

 
60

 
—

 
60

Net change in unrecognized gain on derivative instruments, net of tax
 
—

 
—

 
58

 
1

 
—

 
59

Employee benefit plans adjustment, net of tax
 
—

 
—

 
(4
)
 
(167
)
 
—

 
(171
)
Other comprehensive income (loss)
 
—

 
—

 
54

 
(106
)
 
—

 
(52
)
Equity in other comprehensive (loss) income of subsidiaries
 
(54
)
 
54

 
—

 
—

 
—

 
—

Comprehensive income (loss)
 
1,023

 
411

 
459

 
915

 
(1,700
)
 
1,108

Comprehensive income attributable to noncontrolling interests
 
—

 
—

 
—

 
85

 
—

 
85

Comprehensive income (loss) attributable to Delphi
 
$
1,023

 
$
411

 
$
459

 
$
830

 
$
(1,700
)
 
$
1,023


Statement of Comprehensive Income Year Ended December 31, 2011
 
 
Parent
Companies
 
Subsidiary
Issuer
 
Guarantor
Subsidiaries
 
Non-
Guarantor
Subsidiaries
 
Eliminations
 
Consolidated
 
 
(in millions)
Net income (loss)
 
$
1,145

 
$
74

 
$
121

 
$
1,330

 
$
(1,447
)
 
$
1,223

Other comprehensive (loss) income:
 
 
 
 
 
 
 
 
 
 
 
 
Currency translation adjustments
 
—

 
—

 
—

 
(94
)
 
—

 
(94
)
Net change in unrecognized loss on derivative instruments, net of tax
 
—

 
—

 
(98
)
 
—

 
—

 
(98
)
Employee benefit plans adjustment, net of tax
 
—

 
—

 
(4
)
 
(73
)
 
—

 
(77
)
Other comprehensive loss
 
—

 
—

 
(102
)
 
(167
)
 
—

 
(269
)
Equity in other comprehensive (loss) income of subsidiaries
 
(274
)
 
(102
)
 
—

 
—

 
376

 
—

Comprehensive income (loss)
 
871

 
(28
)
 
19

 
1,163

 
(1,071
)
 
954

Comprehensive income attributable to noncontrolling interests
 
—

 
—

 
—

 
83

 
—

 
83

Comprehensive income (loss) attributable to Delphi
 
$
871

 
$
(28
)
 
$
19

 
$
1,080

 
$
(1,071
)
 
$
871

Balance Sheet as of December 31, 2013
 
 
Parent
Companies
 
Subsidiary
Issuer
 
Guarantor
Subsidiaries
 
Non-
Guarantor
Subsidiaries
 
Eliminations
 
Consolidated
 
 
(in millions)
ASSETS
 
 
 
 
 
 
 
 
 
 
 
 
Current assets:
 
 
 
 
 
 
 
 
 
 
 
 
Cash and cash equivalents
 
$
7

 
$
—

 
$
295

 
$
1,087

 
$
—

 
$
1,389

Restricted cash
 
—

 
—

 
—

 
4

 
—

 
4

Accounts receivable, net
 
—

 
—

 
673

 
1,989

 
—

 
2,662

Inventories
 
—

 
—

 
332

 
770

 
(9
)
 
1,093

Other current assets
 
1

 
10

 
147

 
453

 
(7
)
 
604

Total current assets
 
8

 
10

 
1,447

 
4,303

 
(16
)
 
5,752

Long-term assets:
 
 
 
 
 
 
 
 
 
 
 
 
Property, net
 
—

 
—

 
670

 
2,546

 
—

 
3,216

Investments in affiliates
 
—

 
—

 
—

 
234

 
—

 
234

Investments in subsidiaries
 
5,181

 
1,130

 
—

 
—

 
(6,311
)
 
—

Intangible assets, net
 
—

 
—

 
343

 
876

 
—

 
1,219

Other long-term assets
 
—

 
43

 
40

 
541

 
2

 
626

Total long-term assets
 
5,181

 
1,173

 
1,053

 
4,197

 
(6,309
)
 
5,295

Total assets
 
$
5,189

 
$
1,183

 
$
2,500

 
$
8,500

 
$
(6,325
)
 
$
11,047

LIABILITIES AND SHAREHOLDERS’ EQUITY
 
 
 
 
 
 
 
 
 
 
Current liabilities:
 
 
 
 
 
 
 
 
 
 
 
 
Short-term debt
 
$
—

 
$
25

 
$
23

 
$
13

 
$
—

 
$
61

Accounts payable
 
—

 
—

 
651

 
1,944

 
—

 
2,595

Accrued liabilities
 
—

 
23

 
196

 
1,026

 
(7
)
 
1,238

Total current liabilities
 
—

 
48

 
870

 
2,983

 
(7
)
 
3,894

Long-term liabilities:
 
 
 
 
 
 
 
 
 
 
 
 
Long-term debt
 
—

 
2,339

 
1

 
11

 
—

 
2,351

Intercompany accounts, net
 
2,278

 
(1,236
)
 
685

 
(1,727
)
 
—

 
—

Pension benefit obligations
 
—

 
—

 
61

 
898

 
—

 
959

Other long-term liabilities
 
—

 
—

 
178

 
231

 
—

 
409

Total long-term liabilities
 
2,278

 
1,103

 
925

 
(587
)
 
—

 
3,719

Total liabilities
 
2,278

 
1,151

 
1,795

 
2,396

 
(7
)
 
7,613

Total Delphi shareholders’ equity
 
2,911

 
32

 
705

 
5,581

 
(6,318
)
 
2,911

Noncontrolling interest
 
—

 
—

 
—

 
523

 
—

 
523

Total shareholders’ equity
 
2,911

 
32

 
705

 
6,104

 
(6,318
)
 
3,434

Total liabilities and shareholders’ equity
 
$
5,189

 
$
1,183

 
$
2,500

 
$
8,500

 
$
(6,325
)
 
$
11,047


Balance Sheet as of December 31, 2012
 
 
Parent
Companies
 
Subsidiary
Issuer
 
Guarantor
Subsidiaries
 
Non-
Guarantor
Subsidiaries
 
Eliminations
 
Consolidated
 
 
(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 Year Ended December 31, 2013
 
 
Parent
Companies
 
Subsidiary
Issuer
 
Guarantor
Subsidiaries
 
Non-
Guarantor
Subsidiaries
 
Eliminations
 
Consolidated
 
 
(in millions)
Net cash (used in) provided by operating activities
 
$
(153
)
 
$
—

 
$
253

 
$
1,650

 
$
—

 
$
1,750

Cash flows from investing activities:
 
 
 
 
 
 
 
 
 
 
 
 
Capital expenditures
 
—

 
—

 
(181
)
 
(501
)
 
—

 
(682
)
Proceeds from sale of property/investments
 
—

 
—

 
3

 
30

 
—

 
33

Cost of business and technology acquisitions, net of cash acquired
 
—

 
—

 
—

 
(10
)
 
—

 
(10
)
Decrease in restricted cash
 
—

 
—

 
—

 
4

 
—

 
4

Net cash used in investing activities
 
—

 
—

 
(178
)
 
(477
)
 
—

 
(655
)
Cash flows from financing activities:
 
 
 
 
 
 
 
 
 
 
 
 
Net repayments under other short-term debt agreements
 
—

 
—

 
—

 
(80
)
 
—

 
(80
)
Repayments under long-term debt agreements
 
—

 
(1,353
)
 
—

 
—

 
—

 
(1,353
)
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
 
—

 
—

 
—

 
(55
)
 
—

 
(55
)
Intercompany dividends and net increase (decrease) in intercompany obligations
 
826

 
5

 
115

 
(946
)
 
—

 
—

Repurchase of ordinary shares
 
(457
)
 
—

 
—

 
—

 
—

 
(457
)
Distribution of cash dividends
 
(211
)
 
—

 
—

 
—

 
—

 
(211
)
Taxes withheld and paid on employees' restricted share awards
 
—

 
—

 
(13
)
 
(1
)
 
—

 
(14
)
Net cash provided by (used in) financing activities
 
158

 
—

 
102

 
(1,082
)
 
—

 
(822
)
Effect of exchange rate fluctuations on cash and cash equivalents
 
—

 
—

 
—

 
11

 
—

 
11

Increase in cash and cash equivalents
 
5

 
—

 
177

 
102

 
—

 
284

Cash and cash equivalents at beginning of year
 
2

 
—

 
118

 
985

 
—

 
1,105

Cash and cash equivalents at end of year
 
$
7

 
$
—

 
$
295

 
$
1,087

 
$
—

 
$
1,389


Statement of Cash Flows for the Year Ended December 31, 2012
 
 
Parent
Companies
 
Subsidiary
Issuer
 
Guarantor
Subsidiaries
 
Non-
Guarantor
Subsidiaries
 
Eliminations
 
Consolidated
 
 
(in millions)
Net cash (used in) provided by operating activities
 
$
(22
)
 
$
—

 
$
384

 
$
1,116

 
$
—

 
$
1,478

Cash flows from investing activities:
 
 
 
 
 
 
 
 
 
 
 
 
Capital expenditures
 
—

 
—

 
(197
)
 
(508
)
 
—

 
(705
)
Proceeds from sale of property/investments
 
—

 
—

 
2

 
18

 
—

 
20

Cost of acquisitions, net of cash acquired
 
—

 
—

 
—

 
(980
)
 
—

 
(980
)
Decrease in restricted cash
 
—

 
—

 
—

 
1

 
—

 
1

Loans to related parties
 
—

 
—

 
—

 
14

 
—

 
14

Acquisition of minority held shares
 
—

 
—

 
—

 
(16
)
 
—

 
(16
)
Dividends from equity method investments in excess of earnings
 
—

 
—

 
—

 
37

 
—

 
37

Other, net
 
—

 
—

 
—

 
(2
)
 
—

 
(2
)
Net cash (used in) provided by investing activities
 
—

 
—

 
(195
)
 
(1,436
)
 
—

 
(1,631
)
Cash flows from financing activities:
 
 
 
 
 
 
 
 
 
 
 
 
Net repayments under other short-term debt agreements
 
—

 
—

 
—

 
(8
)
 
—

 
(8
)
Proceeds from issuance of senior secured term loans, net of issuance costs
 
—

 
358

 
—

 
—

 
—

 
358

Repayments of senior secured term loans
 
—

 
(5
)
 
—

 
—

 
—

 
(5
)
Dividend payments of consolidated affiliates to minority shareholders
 
—

 
—

 
—

 
(47
)
 
—

 
(47
)
Intercompany dividends and net increase (decrease) in intercompany obligations
 
374

 
(353
)
 
(257
)
 
236

 
—

 
—

Repurchase of ordinary shares
 
(403
)
 
—

 
—

 
—

 
—

 
(403
)
Net cash (used in) provided by financing activities
 
(29
)
 
—

 
(257
)
 
181

 
—

 
(105
)
Effect of exchange rate fluctuations on cash and cash equivalents
 
—

 
—

 
—

 
—

 
—

 
—

Decrease in cash and cash equivalents
 
(51
)
 
—

 
(68
)
 
(139
)
 
—

 
(258
)
Cash and cash equivalents at beginning of year
 
53

 
—

 
186

 
1,124

 
—

 
1,363

Cash and cash equivalents at end of year
 
$
2

 
$
—

 
$
118

 
$
985

 
$
—

 
$
1,105


Statement of Cash Flows for the Year Ended December 31, 2011
 
 
Parent
Companies
 
Subsidiary
Issuer
 
Guarantor
Subsidiaries
 
Non-
Guarantor
Subsidiaries
 
Eliminations
 
Consolidated
 
 
(in millions)
Net cash (used in) provided by operating activities
 
$
(255
)
 
$
17

 
$
269

 
$
1,346

 
$
—

 
$
1,377

Cash flows from investing activities:
 
 
 
 
 
 
 
 
 
 
 
 
Capital expenditures
 
—

 
—

 
(161
)
 
(469
)
 
—

 
(630
)
Maturity of time deposits
 
—

 
—

 
550

 
—

 
—

 
550

Proceeds from sale of property/investments
 
—

 
—

 
12

 
60

 
—

 
72

Cost of acquisitions, net of cash acquired
 
—

 
—

 
—

 
(17
)
 
—

 
(17
)
Decrease in restricted cash
 
—

 
—

 
25

 
13

 
—

 
38

Loans of related parties
 
—

 
—

 
—

 
(14
)
 
—

 
(14
)
Other, net
 
—

 
—

 
(4
)
 
(5
)
 
—

 
(9
)
Net cash provided by (used in) investing activities
 
—

 
—

 
422

 
(432
)
 
—

 
(10
)
Cash flows from financing activities:
 
 
 
 
 
 
 
 
 
 
 
 
Net borrowings (repayments) under other short-term debt agreements
 
—

 
4

 
(1
)
 
(128
)
 
—

 
(125
)
Proceeds from issuance of senior secured term loans, net of issuance costs
 
—

 
2,385

 
—

 
—

 
—

 
2,385

Repayments of senior secured term loans
 
—

 
(1,490
)
 
—

 
—

 
—

 
(1,490
)
Proceeds from issuance of senior notes, net of issuance costs
 
—

 
976

 
—

 
—

 
—

 
976

Repayment of senior unsecured five-year notes
 
—

 
—

 
—

 
(57
)
 
—

 
(57
)
Dividend payments of consolidated affiliates to minority shareholders
 
—

 
—

 
—

 
(43
)
 
—

 
(43
)
Intercompany dividends and net increase (decrease) in intercompany obligations
 
5,142

 
(1,892
)
 
(2,514
)
 
(736
)
 
—

 
—

Distribution to Delphi equity holders
 
(93
)
 
—

 
—

 
—

 
—

 
(93
)
Redemption of membership interests
 
(4,747
)
 
—

 
—

 
—

 
—

 
(4,747
)
Net cash provided by (used in) financing activities
 
302

 
(17
)
 
(2,515
)
 
(964
)
 
—

 
(3,194
)
Effect of exchange rate fluctuations on cash and cash equivalents
 
—

 
—

 
—

 
(29
)
 
—

 
(29
)
Increase (decrease) in cash and cash equivalents
 
47

 
—

 
(1,824
)
 
(79
)
 
—

 
(1,856
)
Cash and cash equivalents at beginning of year
 
6

 
—

 
2,010

 
1,203

 
—

 
3,219

Cash and cash equivalents at end of year
 
$
53

 
$
—

 
$
186

 
$
1,124

 
$
—

 
$
1,363

Segment Reporting
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 injection, combustion, electronics controls, exhaust handling, test and validation capabilities, 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 years ended December 31, 2013, 2012 and 2011, as well as balance sheet data as of December 31, 2013 and 2012.
 
 
Electrical/
Electronic
Architecture
 
Powertrain
Systems
 
Electronics
and Safety
 
Thermal
Systems
 
Eliminations
and Other (1)
 
Total
 
 
(in millions)
For the Year Ended December 31, 2013:
 
 
 
 
 
 
 
 
 
 
Net sales
 
$
7,972

 
$
4,424

 
$
2,830

 
$
1,468

 
$
(231
)
 
$
16,463

EBITDA
 
$
1,194

 
$
619

 
$
340

 
$
71

 
$
—

 
$
2,224

Adjusted EBITDA
 
$
1,237

 
$
671

 
$
396

 
$
80

 
$
—

 
$
2,384

Depreciation and amortization
 
$
236

 
$
188

 
$
73

 
$
43

 
$
—

 
$
540

Operating income (2)
 
$
958

 
$
431

 
$
267

 
$
28

 
$
—

 
$
1,684

Equity income (loss)
 
$
15

 
$
4

 
$
—

 
$
18

 
$
(3
)
 
$
34

Net income attributable to noncontrolling interest
 
$
40

 
$
31

 
$
—

 
$
18

 
$
—

 
$
89

 
 
Electrical/
Electronic
Architecture
 
Powertrain
Systems
 
Electronics
and Safety
 
Thermal
Systems
 
Eliminations
and Other (1)
 
Total
 
 
(in millions)
For the Year Ended December 31, 2012:
 
 
 
 
 
 
 
 
 
 
Net sales
 
$
6,815

 
$
4,656

 
$
2,732

 
$
1,541

 
$
(225
)
 
$
15,519

EBITDA
 
$
887

 
$
698

 
$
274

 
$
103

 
$
—

 
$
1,962

Adjusted EBITDA
 
$
945

 
$
723

 
$
363

 
$
111

 
$
—

 
$
2,142

Depreciation and amortization
 
$
164

 
$
182

 
$
97

 
$
43

 
$
—

 
$
486

Operating income (3)
 
$
723

 
$
516

 
$
177

 
$
60

 
$
—

 
$
1,476

Equity income (loss)
 
$
13

 
$
1

 
$
3

 
$
11

 
$
(1
)
 
$
27

Net income attributable to noncontrolling interest
 
$
37

 
$
31

 
$
—

 
$
15

 
$
—

 
$
83

 
 
Electrical/
Electronic
Architecture
 
Powertrain
Systems
 
Electronics
and Safety
 
Thermal
Systems
 
Eliminations
and Other (1)
 
Total
 
 
(in millions)
For the Year Ended December 31, 2011:
 
 
 
 
 
 
 
 
 
 
Net sales
 
$
6,642

 
$
4,970

 
$
2,931

 
$
1,755

 
$
(257
)
 
$
16,041

EBITDA
 
$
868

 
$
710

 
$
369

 
$
172

 
$
—

 
$
2,119

Adjusted EBITDA
 
$
880

 
$
722

 
$
374

 
$
174

 
$
—

 
$
2,150

Depreciation and amortization
 
$
131

 
$
195

 
$
105

 
$
44

 
$
—

 
$
475

Operating income (4)
 
$
737

 
$
515

 
$
264

 
$
128

 
$
—

 
$
1,644

Equity income (loss)
 
$
20

 
$
3

 
$
1

 
$
6

 
$
(8
)
 
$
22

Net income attributable to noncontrolling interest
 
$
33

 
$
33

 
$
—

 
$
12

 
$
—

 
$
78

(1)
Eliminations and Other includes the elimination of inter-segment transactions.
(2)
Includes charges recorded in 2013 related to costs associated with employee termination benefits and other exit costs of $28 million for Electrical/Electronic Architecture, $52 million for Powertrain Systems, $56 million for Electronics and Safety and $9 million for Thermal Systems.
(3)
Includes charges recorded in 2012 related to costs associated with employee termination benefits and other exit costs of $49 million for Electrical/Electronic Architecture, $25 million for Powertrain Systems, $89 million for Electronics and Safety and $8 million for Thermal Systems.
(4)
Includes charges recorded in 2011 related to costs associated with employee termination benefits and other exit costs of $12 million for Electrical/Electronic Architecture, $12 million for Powertrain Systems, $5 million for Electronics and Safety and $2 million for Thermal Systems.
 
 
Electrical/
Electronic
Architecture
 
Powertrain
Systems
 
Electronics
and Safety
 
Thermal
Systems
 
Eliminations
and
Other(1)
 
Total
 
 
(in millions)
Balance as of:
 
 
December 31, 2013
 
 
 
 
 
 
 
 
 
 
 
 
Investment in affiliates
 
$
48

 
$
72

 
$
—

 
$
105

 
$
9

 
$
234

Goodwill
 
$
487

 
$
9

 
$
—

 
$
—

 
$
—

 
$
496

Capital expenditures
 
$
293

 
$
224

 
$
64

 
$
77

 
$
24

 
$
682

Total segment assets
 
$
5,312

 
$
4,128

 
$
2,018

 
$
985

 
$
(1,396
)
 
$
11,047

December 31, 2012
 
 
 
 
 
 
 
 
 
 
 
 
Investment in affiliates
 
$
49

 
$
77

 
$
—

 
$
88

 
$
17

 
$
231

Goodwill
 
$
465

 
$
8

 
$
—

 
$
—

 
$
—

 
$
473

Capital expenditures
 
$
238

 
$
304

 
$
66

 
$
63

 
$
34

 
$
705

Total segment assets
 
$
4,758

 
$
3,915

 
$
1,701

 
$
905

 
$
(1,103
)
 
$
10,176

(1)
Eliminations and Other includes the elimination of inter-segment transactions. Effective in 2013, Delphi’s management began presenting total segment assets on an updated basis of presentation. As a result, the presentation of the December 31, 2012 total segment assets has been appropriately updated to reflect the current presentation.
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 years ended December 31, 2013, 2012 and 2011 are as follows:
 
 
Electrical/
Electronic
Architecture
 
Powertrain
Systems
 
Electronics
and Safety
 
Thermal
Systems
 
Eliminations
and Other
 
Total
 
 
(in millions)
For the Year Ended December 31, 2013:
 
 
 
 
 
 
 
 
 
 
Adjusted EBITDA
 
$
1,237

 
$
671

 
$
396

 
$
80

 
$
—

 
$
2,384

Restructuring
 
(28
)
 
(52
)
 
(56
)
 
(9
)
 
—

 
(145
)
Other acquisition-related costs
 
(15
)
 
—

 
—

 
—

 
—

 
(15
)
EBITDA
 
$
1,194

 
$
619

 
$
340

 
$
71

 
$
—

 
$
2,224

Depreciation and amortization
 
(236
)
 
(188
)
 
(73
)
 
(43
)
 
—

 
(540
)
Operating income
 
$
958

 
$
431

 
$
267

 
$
28

 
$
—

 
1,684

Interest expense
 
 
 
 
 
 
 
 
 
 
 
(143
)
Other (expense), net
 
 
 
 
 
 
 
 
 
 
 
(18
)
Income before income taxes and equity income
 
 
 
 
 
 
 
 
 
 
 
1,523

Income tax expense
 
 
 
 
 
 
 
 
 
 
 
(256
)
Equity income, net of tax
 
 
 
 
 
 
 
 
 
 
 
34

Net income
 
 
 
 
 
 
 
 
 
 
 
$
1,301

Net income attributable to noncontrolling interest
 
 
 
 
 
 
 
 
 
 
 
89

Net income attributable to Delphi
 
 
 
 
 
 
 
 
 
 
 
$
1,212

 
 
Electrical/
Electronic
Architecture
 
Powertrain
Systems
 
Electronics
and Safety
 
Thermal
Systems
 
Eliminations
and Other
 
Total
 
 
(in millions)
For the Year Ended December 31, 2012:
 
 
 
 
 
 
 
 
 
 
Adjusted EBITDA
 
$
945

 
$
723

 
$
363

 
$
111

 
$
—

 
$
2,142

Restructuring
 
(49
)
 
(25
)
 
(89
)
 
(8
)
 
—

 
(171
)
Other acquisition-related costs
 
(9
)
 
—

 
—

 
—

 
—

 
(9
)
EBITDA
 
$
887

 
$
698

 
$
274

 
$
103

 
$
—

 
$
1,962

Depreciation and amortization
 
(164
)
 
(182
)
 
(97
)
 
(43
)
 
—

 
(486
)
Operating income
 
$
723

 
$
516

 
$
177

 
$
60

 
$
—

 
1,476

Interest expense
 
 
 
 
 
 
 
 
 
 
 
(136
)
Other income, net
 
 
 
 
 
 
 
 
 
 
 
5

Income before income taxes and equity income
 
 
 
 
 
 
 
 
 
 
 
1,345

Income tax expense
 
 
 
 
 
 
 
 
 
 
 
(212
)
Equity income, net of tax
 
 
 
 
 
 
 
 
 
 
 
27

Net income
 
 
 
 
 
 
 
 
 
 
 
$
1,160

Net income attributable to noncontrolling interest
 
 
 
 
 
 
 
 
 
 
 
83

Net income attributable to Delphi
 
 
 
 
 
 
 
 
 
 
 
$
1,077

 
 
Electrical/
Electronic
Architecture
 
Powertrain
Systems
 
Electronics
and Safety
 
Thermal
Systems
 
Eliminations
and Other
 
Total
 
 
(in millions)
For the Year Ended December 31, 2011:
 
 
 
 
 
 
 
 
 
 
Adjusted EBITDA
 
$
880

 
$
722

 
$
374

 
$
174

 
$
—

 
$
2,150

Restructuring
 
(12
)
 
(12
)
 
(5
)
 
(2
)
 
—

 
(31
)
EBITDA
 
868

 
710

 
369

 
172

 
—

 
2,119

Depreciation and amortization
 
(131
)
 
(195
)
 
(105
)
 
(44
)
 
—

 
(475
)
Operating income
 
$
737

 
$
515

 
$
264

 
$
128

 
$
—

 
1,644

Interest expense
 
 
 
 
 
 
 
 
 
 
 
(123
)
Other income, net
 
 
 
 
 
 
 
 
 
 
 
(15
)
Income before income taxes and equity income
 
 
 
 
 
 
 
 
 
 
 
1,506

Income tax expense
 
 
 
 
 
 
 
 
 
 
 
(305
)
Equity income, net of tax
 
 
 
 
 
 
 
 
 
 
 
22

Net income
 
 
 
 
 
 
 
 
 
 
 
$
1,223

Net income attributable to
noncontrolling interest
 
 
 
 
 
 
 
 
 
 
 
78

Net income attributable to Delphi
 
 
 
 
 
 
 
 
 
 
 
$
1,145


Information concerning principal geographic areas is set forth below. Net sales data reflects the manufacturing location and is for the years ended December 31. Net property data is as of December 31.
 
 
Year ended
December 31, 2013
 
Year ended
December 31, 2012
 
Year ended
December 31, 2011
 
 
(in millions)
 
 
Net Sales
 
Net
Property(1)
 
Net Sales
 
Net
Property(1)
 
Net Sales
 
Net
Property(1)
United States
 
$
5,300

 
$
668

 
$
5,193

 
$
592

 
$
4,993

 
$
506

Other North America
 
213

 
145

 
151

 
139

 
118

 
129

Europe, Middle East & Africa(2)
 
6,444

 
1,592

 
6,364

 
1,455

 
7,264

 
1,107

China
 
2,703

 
526

 
2,288

 
389

 
2,026

 
314

Other Asia Pacific
 
838

 
148

 
539

 
135

 
438

 
108

South America
 
965

 
137

 
984

 
150

 
1,202

 
151

Total
 
$
16,463

 
$
3,216

 
$
15,519

 
$
2,860

 
$
16,041

 
$
2,315

(1)
Net property data represents property, plant and equipment, net of accumulated depreciation.
(2)
Includes Delphi’s country of domicile, Jersey, and the country of Delphi’s principal executive offices, the United Kingdom. The Company had no sales in Jersey in any period. The Company had net sales of $727 million, $726 million, and $866 million in the United Kingdom for the years ended December 31, 2013, 2012 and 2011, respectively. The Company had net property in the United Kingdom of $229 million, $191 million, and $138 million as of December 31, 2013, 2012 and 2011, respectively.
Quarterly Data
Quarterly Financial Information
QUARTERLY DATA (UNAUDITED)
The following is a condensed summary of the Company’s unaudited quarterly results of continuing operations for fiscal 2013 and 2012.
 
Three months ended
 
 
 
March 31,  
 
June 30,  
 
September 30, 
 
December 31,  
 
Total
 
(in millions, except per share amounts)
2013
 
 
 
 
 
 
 
 
 
Net sales
$
4,024

 
$
4,240

 
$
4,017

 
$
4,182

 
$
16,463

Cost of sales
3,339

 
3,464

 
3,338

 
3,426

 
$
13,567

Gross profit
$
685

 
$
776

 
$
679

 
$
756

 
$
2,896

Operating income
$
397

 
$
483

 
$
387

 
$
417

 
$
1,684

Net income (1)
$
298

 
$
389

 
$
293

 
$
321

 
$
1,301

Net income attributable to Delphi
$
276

 
$
367

 
$
271

 
$
298

 
$
1,212

Basic net income per share:
 
 
 
 
 
 
 
 
 
Basic net income per share attributable to Delphi (2)
$
0.88

 
$
1.18

 
$
0.88

 
$
0.97

 
$
3.90

Weighted average number of basic shares outstanding
314.68

 
311.93

 
309.68

 
307.08

 
310.82

Diluted net income per share:
 
 
 
 
 
 
 
 
 
Diluted net income per share attributable to Delphi (2)
$
0.88

 
$
1.17

 
$
0.87

 
$
0.97

 
$
3.89

Weighted average number of diluted shares outstanding
315.36

 
312.69

 
310.62

 
308.64

 
311.80

 
 
 
 
 
 
 
 
 
 
2012
 
 
 
 
 
 
 
 
 
Net sales
$
4,092

 
$
3,997

 
$
3,663

 
$
3,767

 
$
15,519

Cost of sales (3)
3,373

 
3,272

 
3,058

 
3,158

 
$
12,861

Gross profit
$
719

 
$
725

 
$
605

 
$
609

 
$
2,658

Operating income
$
464

 
$
468

 
$
367

 
$
177

 
$
1,476

Net income
$
363

 
$
350

 
$
292

 
$
155

 
$
1,160

Net income attributable to Delphi
$
342

 
$
330

 
$
269

 
$
136

 
$
1,077

Basic net income per share:
 
 
 
 
 
 
 
 
 
Basic net income per share attributable to Delphi (2)
$
1.04

 
$
1.01

 
$
0.84

 
$
0.43

 
$
3.34

Weighted average number of basic shares outstanding
328.24

 
325.87

 
320.93

 
316.80

 
322.94

Diluted net income per share:
 
 
 
 
 
 
 
 
 
Diluted net income per share attributable to Delphi (2)
$
1.04

 
$
1.01

 
$
0.84

 
$
0.43

 
$
3.33

Weighted average number of diluted shares outstanding
328.47

 
326.14

 
321.28

 
317.34

 
323.29

(1)
In the first quarter of 2013, Delphi recognized a loss on debt extinguishment of $39 million.
(2)
Due to the use of the weighted average shares outstanding for each quarter for computing earnings per share, the sum of the quarterly per share amounts may not equal the per share amount for the year.
(3)
In the fourth quarter of 2012, Delphi recorded restructuring charges totaling $154 million which includes employee-related and other costs. Additionally, Delphi recognized non-cash asset impairment charges of $15 million, recognized in cost of sales.
Significant Accounting Policies (Policies)
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 significant intercompany transactions and balances between consolidated Delphi businesses have been eliminated.
During the year ended December 31, 2013, Delphi received dividends of $30 million from two of its equity method investments. 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 year ended December 31, 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.
As part of Delphi’s operations, it has investments in seven non-consolidated affiliates accounted for under the equity method of accounting. These affiliates are not publicly traded companies and are located primarily in South Korea, China and Mexico. Delphi’s ownership percentages vary generally from approximately 20% to 50%, with the most significant investments in Korea Delphi Automotive Systems Corporation (of which Delphi owns 50%), Delphi-TVS Diesel Systems Ltd (of which Delphi owns approximately 50%), and Promotora de Partes Electricas Automotrices, S.A. de C.V. (of which Delphi owns approximately 40%).
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.
Revenue Recognition, Policy 
Revenue recognition—Sales are recognized when there is evidence of a sales agreement, the delivery of goods has occurred, the sales price is fixed or determinable and the collectability of revenue is reasonably assured. Sales are generally recorded upon shipment of product to customers and transfer of title under standard commercial terms. In addition, if Delphi enters into retroactive price adjustments with its customers, these reductions to revenue are recorded when they are determined to be probable and estimable. From time to time, Delphi enters into pricing agreements with its customers that provide for price reductions, some of which are conditional upon achieving certain joint cost saving targets. In these instances, revenue is recognized based on the agreed-upon price at the time of shipment.
Sales incentives and allowances are recognized as a reduction to revenue at the time of the related sale. In addition, from time to time, Delphi makes payments to customers in conjunction with ongoing and future business. These payments to customers are recognized as a reduction to revenue at the time of the commitment to make these payments.
Shipping and handling fees billed to customers are included in net sales, while costs of shipping and handling are included in cost of sales.
Delphi collects and remits taxes assessed by different governmental authorities that are both imposed on and concurrent with a revenue-producing transaction between the Company and the Company’s customers. These taxes may include, but are not limited to, sales, use, value-added, and some excise taxes. Delphi reports the collection of these taxes on a net basis (excluded from revenues).
Membership Interests, Policy 
Membership interests—At the Acquisition Date, the outstanding common stock of the Predecessor was canceled and membership interests in Delphi Automotive LLP were issued to Delphi’s owners. On March 31, 2011, all of the outstanding Class A and Class C membership interests held by GM and the PBGC were redeemed for approximately $4.4 billion.
In conjunction with the completion of the initial public offering on November 22, 2011 of 24,078,827 ordinary shares by the selling shareholders for an aggregate purchase price of approximately $530 million, 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. Delphi did not receive any proceeds from this offering.
Prior to the initial public offering, total membership interests and net income were allocated among the respective 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”). Refer to Note 15. Shareholders’ Equity and Net Income Per Share for additional information.
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 15. 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 21. Share-Based Compensation for additional information. For all periods presented, the effect of the VCP awards was anti-dilutive and therefore excluded from the calculation of diluted net income per share, as discussed in Note 21. Share-Based Compensation.
Research and Development, Policy 
Research and development—Costs are incurred in connection with research and development programs that are expected to contribute to future earnings. Such costs are charged against income as incurred. Total research and development expenses (including engineering) were approximately $1.3 billion, $1.2 billion and $1.2 billion for the years ended December 31, 2013, 2012 and 2011, respectively.
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.
Time Deposits, Policy 
Time deposits—From time to time, Delphi enters into various time deposit agreements whereby certain of Delphi’s funds on deposit with financial institutions may not be withdrawn for a specified period of time. Time deposits with original maturity periods of three months or less are included as Cash and cash equivalents in the consolidated balance sheets, while time deposits with original maturity periods greater than three months are separately stated in the consolidated balance sheets. There were no time deposits at December 31, 2013 and 2012.
Marketable Securities, Policy 
Marketable securities—Marketable securities with maturities of three months or less are classified as cash and cash equivalents for financial statement purposes. Available-for-sale securities are recorded in the consolidated financial statements at market value with changes in market value included in other comprehensive income (“OCI”). Delphi had no available-for-sale securities as of December 31, 2013 and 2012, respectively. In the event debt or equity securities experience an other-than-temporary impairment in value, such impairment is recognized as a loss in the consolidated statement of operations. In 2013, 2012 and 2011, Delphi recognized an other-than-temporary impairment of $0 million, $0 million and $6 million, respectively.
Restricted Cash, Policy 
Restricted cash—Restricted cash includes balances on deposit at financial institutions that have issued letters of credit in favor of Delphi.
Accounts Receivable, Policy 
Accounts receivable—Delphi enters into agreements to sell certain of its accounts receivable, primarily in Europe. Since the agreements allow Delphi to maintain effective control over the receivables, these various accounts receivable factoring facilities were accounted for as short-term debt at December 31, 2013 and 2012. Collateral is not generally required related to these trade accounts receivable.
The allowance for doubtful accounts is established based upon analysis of trade receivables for known collectability issues and the aging of the trade receivables at the end of each period and, generally, all accounts receivable balances greater than 90 days past due are fully reserved. As of December 31, 2013 and 2012, the accounts receivable reserve was $63 million and $65 million, respectively and the provision for doubtful accounts was $7 million, $22 million and $25 million for the years ended December 31, 2013, 2012 and 2011, respectively.
The Company exchanges certain amounts of accounts receivable, primarily in the Asia/Pacific region, for bank notes with original maturities greater than three months. The collection of such bank notes are included in operating cash flows based on the substance of the underlying transactions, which are operating in nature.
Inventories, Policy 
Inventories—As of December 31, 2013 and 2012, 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. Refer to Note 3. Inventories for additional information. Obsolete inventory is identified based on analysis of inventory for known obsolescence issues, and, generally, the market value of inventory on hand in excess of one year’s supply is fully-reserved.
From time to time, payments may be received from suppliers. These payments from suppliers are recognized as a reduction of the cost of the material acquired during the period to which the payments relate. In some instances, supplier rebates are received in conjunction with or concurrent with the negotiation of future purchase agreements and these amounts are amortized over the prospective agreement period.
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
Property, Policy 
Property—Major improvements that materially extend the useful life of property are capitalized. Expenditures for repairs and maintenance are charged to expense as incurred. Depreciation is determined based on a straight-line method over the estimated useful lives of groups of property. Leasehold improvements under capital leases are depreciated over the period of the lease or the life of the property, whichever is shorter, with the depreciation applied directly to the asset account.
At December 31, 2013 and 2012, the special tools balance was $442 million and $362 million, respectively, included within property, net in the consolidated balance sheets. Special tools balances represent Delphi-owned tools, dies, jigs and other items used in the manufacture of customer components. Special tools also include unreimbursed pre-production tooling costs related to customer-owned tools for which the customer has provided a non-cancellable right to use the tool. Delphi-owned special tools balances are depreciated over the expected life of the special tool or the life of the related vehicle program, whichever is shorter. The unreimbursed costs incurred related to customer-owned special tools that are not subject to reimbursement are capitalized and depreciated over the expected life of the special tool or the life of the related vehicle program, whichever is shorter. Engineering, testing and other costs incurred in the design and development of production parts are expensed as incurred, unless the costs are reimbursable, as specified in a customer contract. As of December 31, 2013 and 2012, the Delphi-owned special tools balances were $370 million and $308 million, respectively, and the customer-owned special tools balances were $72 million and $54 million, respectively.
Valuation of Long-Lived Assets, Policy 
Valuation of long-lived assets—The carrying value of long-lived assets held for use including definite-lived intangible assets is periodically evaluated when events or circumstances warrant such a review. The carrying value of a long-lived asset held for use is considered impaired when the anticipated separately identifiable undiscounted cash flows from the asset are less than the carrying value of the asset. In that event, a loss is recognized based on the amount by which the carrying value exceeds the fair value of the long-lived asset. Impairment losses on long-lived assets held for sale are recognized if the carrying value of the asset is in excess of the asset's fair value, reduced for the cost to dispose of the asset. Fair value of long-lived assets is determined primarily using the anticipated cash flows discounted at a rate commensurate with the risk involved and Delphi’s review of appraisals. Refer to Note 6. Property, Net for more information.
Intangible Assets, Policy 
Intangible Assets—We amortize definite-lived intangible assets over their estimated useful lives. We have definite-lived intangible assets related to patents and developed technology, customer relationships, trade names and in-process research and development. We do not amortize indefinite-lived in-process research and development, but test 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.
Goodwill, Policy 
Goodwill—Goodwill is the excess of the purchase price over the fair value of identifiable net assets acquired in business combinations. We test goodwill for impairment annually or more frequently when indications of potential impairment exist. We monitor 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 we then perform 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, then we conclude that 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, we recognize an impairment loss in an amount equal to the excess, not to exceed the carrying value. Refer to Note 20. Acquisitions and Divestitures, for further information on the goodwill attributable to the acquisition of the Motorized Vehicles Division of FCI (“MVL”) in the fourth quarter of 2012.
Goodwill Impairment—For each reporting unit, we determined that the fair value of goodwill remained substantially in excess of carrying values. No goodwill impairments were recorded in 2013 or 2012. Refer to Note 7. Intangible Assets and Goodwill for further information.
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. These estimates are adjusted from time to time based on facts and circumstances that impact the status of existing claims. Refer to Note 9. Warranty Obligations.
Expected warranty costs for products sold are recognized principally at the time of sale of the product based on estimates of the amount that will eventually be required to settle such obligations. These accruals are based on factors such as past experience, production changes, industry developments and various other considerations. These estimates are adjusted from time to time based on facts and circumstances that impact the status of existing claims.
Income Tax, Policy 
Income Taxes—Deferred tax assets and liabilities reflect temporary differences between the amount of assets and liabilities for financial and tax reporting purposes. Such amounts are adjusted, as appropriate, to reflect changes in tax rates expected to be in effect when the temporary differences reverse. The effect on deferred tax assets and liabilities of a change in tax rates is recognized in earnings in the period that includes the enactment date. A valuation allowance is recorded to reduce our deferred tax assets to the amount that is more likely than not to be realized. In the event we determine it is more likely than not that the deferred tax assets will not be realized in the future, the valuation adjustment to the deferred tax assets will be charged to earnings in the period in which we make such a determination. In determining the provision for income taxes for financial statement purposes, the Company makes certain estimates and judgments which affect its evaluation of the carrying value of its deferred tax assets, as well as its calculation of certain tax liabilities.
Foreign Currency Translation, Policy 
Foreign currency translation—Assets and liabilities of non-U.S. subsidiaries that use a currency other than U.S. dollars as their functional currency are translated to U.S. dollars at end-of-period currency exchange rates. The consolidated statements of operations of non-U.S. subsidiaries are translated to U.S. dollars at average-period currency exchange rates. The effect of translation for non-U.S. subsidiaries is generally reported in OCI. The effect of remeasurement of assets and liabilities of non-U.S. subsidiaries that use the U.S. dollar as their functional currency is primarily included in cost of sales. Also included in cost of sales are gains and losses arising from transactions denominated in a currency other than the functional currency of a particular entity. Net foreign currency transaction losses or (gains) of $16 million, $24 million and $(3) million were included in the consolidated statements of operations for the years ended December 31, 2013, 2012 and 2011, respectively.
Restructurings, 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 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 10. 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 the Company’s strategy, either in the normal course of business or pursuant to significant restructuring programs.
Environmental Liabilities, Policy 
Environmental liabilities—Environmental remediation liabilities are recognized when a loss is probable and can be reasonably estimated. Such liabilities generally are not subject to insurance coverage. The cost of each environmental remediation is estimated by engineering, financial, and legal specialists based on current law and considers the estimated cost of investigation and remediation required and the likelihood that, where applicable, other responsible parties will be able to fulfill their commitments. The process of estimating environmental remediation liabilities is complex and dependent primarily on the nature and extent of historical information and physical data relating to a contaminated site, the complexity of the site, the uncertainty as to what remediation and technology will be required, and the outcome of discussions with regulatory agencies and, if applicable, other responsible parties at multi-party sites. In future periods, new laws or regulations, advances in remediation technologies and additional information about the ultimate remediation methodology to be used could significantly change estimates by Delphi. Refer to Note 13. Commitments and Contingencies for more information.
Asset Retirement Obligations, Policy 
Asset retirement obligations—Asset retirement obligations are recognized in accordance with FASB ASC 410, Asset Retirement and Environmental Obligations. Conditional retirement obligations have been identified primarily related to asbestos abatement at certain sites. To a lesser extent, conditional retirement obligations also exist at certain sites related to the removal of storage tanks and polychlorinated biphenyl disposal costs. Asset retirement obligations were $3 million and $3 million at December 31, 2013 and 2012, respectively.
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 27%, 29% and 28% of our total net sales for the years ended December 31, 2013, 2012 and 2011, respectively.
 
Percentage of Total Net Sales
 
 
Accounts and Other Receivables
 
Year Ended December 31,
 
 
December 31,
2013
 
December 31,
2012
 
2013
 
2012
 
2011
 
 
 
 
 
 
 
 
 
(in millions)
GM
17
%
 
18
%
 
19
%
 
 
$
377

 
$
382

VW
10
%
 
11
%
 
9
%
 
 
199

 
109

Derivative Financial Instruments, Policy 
Derivative financial instruments—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.
Exposure to fluctuations in currency exchange rates, interest rates and certain commodity prices are managed by entering into a variety of forward contracts and swaps with various counterparties. Such financial exposures are managed in accordance with the policies and procedures of Delphi. Delphi did not enter into derivative transactions for speculative or trading purposes. As part of the hedging program approval process, Delphi identifies the specific financial risk which the derivative transaction will minimize, the appropriate hedging instrument to be used to reduce the risk and the correlation between the financial risk and the hedging instrument. Purchase orders, sales contracts, letters of intent, capital planning forecasts and historical data are used as the basis for determining the anticipated values of the transactions to be hedged. Delphi does not enter into derivative transactions that do not have a high correlation with the underlying financial risk. Hedge positions, as well as the correlation between the transaction risks and the hedging instruments, are reviewed on an ongoing basis.
Foreign exchange forward contracts are accounted for as hedges of firm or forecasted foreign currency commitments to the extent they are designated and assessed as highly effective. All foreign exchange contracts are marked to market on a current basis. Commodity swaps are accounted for as hedges of firm or anticipated commodity purchase contracts to the extent they are designated and assessed as effective. All other commodity derivative contracts that are not designated as hedges are either marked to market on a current basis or are exempted from mark to market accounting as normal purchases. At December 31, 2013 and 2012, the exposure to movements in interest rates was not hedged with derivative instruments. Refer to Note 17. Derivatives and Hedging Activities for additional information.
Extended Disability Benefits, Policy 
Extended disability benefits—Costs associated with extended disability benefits provided to inactive employees are accrued throughout the duration of their active employment. Workforce demographic data and historical experience are utilized to develop projections of time frames and related expense for postemployment benefits.
Workers' Compensation Benefits, Policy 
Workers’ compensation benefits—Workers’ compensation benefit accruals are actuarially determined and are subject to the existing workers’ compensation laws that vary by location. Accruals for workers’ compensation benefits represent the discounted future cash expenditures expected during the period between the incidents necessitating the employees to be idled and the time when such employees return to work, are eligible for retirement or otherwise terminate their employment.
Share-based Compensation, Policy 
Share-Based Compensation—Our share-based compensation arrangements consist of the Delphi Automotive PLC Long Term Incentive Plan (the “PLC LTIP”), and through December 31, 2012, the Value Creation Plan (the “VCP”), a long term incentive plan for key employees. In 2013 and 2012, grants of restricted stock units (“RSUs”) to Delphi's executives were made under the PLC LTIP. The RSU awards include a time-based vesting portion and a performance-based vesting portion. The performance-based vesting portion includes performance and market conditions in addition to service conditions. The grant date fair value of the RSUs is 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, or a contemporaneous valuation performed by an independent valuation specialist with respect to awards with market conditions. Compensation expense is recognized based upon the grant date fair value of the awards applied to the Company's best estimate of ultimate performance against the respective targets on a straight-line basis over the requisite vesting period of the awards. The performance conditions require management to make assumptions regarding the likelihood of achieving certain performance goals. Changes in these performance assumptions, as well as differences in actual results from management's estimates, could result in estimated or actual fair values different from previously estimated fair values.
We expensed the estimated fair value of the VCP over the requisite service vesting periods. Estimating the fair value for the VCP required us to make assumptions regarding the nature of the payout of the award as well as changes in our share price during the post-initial public offering period. The awards cliff vested on December 31, 2012, the end of the performance period. See Note 21. Share-Based Compensation for further disclosures relating to the Company's share-based compensation arrangements.
Business Combinations Policy 
Business Combinations—We account for our business combinations in accordance with the accounting guidance in FASB ASC 805, Business Combinations. The purchase price of an acquired business is allocated to its identifiable assets and liabilities based on estimated fair values. The excess of the purchase price over the amount allocated to the assets and liabilities, if any, is recorded as goodwill. Determining the fair values of assets acquired and liabilities assumed requires management's judgment, the utilization of independent appraisal firms and often involves the use of significant estimates and assumptions with respect to the timing and amount of future cash flows, market rate assumptions, actuarial assumptions, and appropriate discount rates, among other items.
Recently Issued Accounting Pronouncements, Policy 
Recently issued accounting pronouncements—In December 2011, the FASB issued ASU 2011-10, Derecognition of In-substance Real Estate—a Scope Clarification. This guidance requires that if an entity ceases to have a controlling interest in a subsidiary that is in substance real estate due to a default on the loan (mortgage) on that real estate, it would continue to recognize the asset and related debt until the real estate is legally transferred to satisfy the debt. The guidance is effective for fiscal years beginning after June 15, 2012. The adoption of this guidance did not have a significant impact on Delphi's financial statements.
The FASB amended ASC 820, “Fair Value Measurements,” with ASU 2011-04, Fair Value Measurement (Topic 820) - Amendments to Achieve Common Fair Value Measurement and Disclosure Requirements in U.S. GAAP and IFRSs. This update provides converged guidance on how to measure fair value, which is largely consistent with existing U.S. GAAP. This update also requires additional fair value measurement disclosures. The provisions of this update were effective as of January 1, 2012. The adoption of this guidance did not have a significant impact on Delphi's financial statements.
In July 2012, the FASB issued ASU 2012-02, Testing Indefinite-lived Intangible Assets for Impairment. The revised standard is intended to simplify impairment testing of indefinite-lived intangible assets by adding an option to qualitatively assess the asset for impairment.  The guidance is effective for interim and annual impairment tests performed for fiscal years beginning after September 15, 2012.  Delphi adopted this guidance for its testing of indefinite-lived intangible assets for impairment effective October 1, 2012 and it did not have a significant impact on Delphi's financial statements.
In December 2011, the 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 17. Derivatives and Hedging Activities for additional information.
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 16. 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.
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 over the requisite service period.
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.
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.
Inventories (Tables)
Schedule of Inventory, Current
A summary of inventories is shown below:
 
 
December 31,
2013
 
December 31,
2012
 
 
(in millions)
Productive material
 
$
584

 
$
586

Work-in-process
 
142

 
128

Finished goods
 
367

 
352

Total
 
$
1,093

 
$
1,066

Assets (Tables)
Schedule of Other Current Assets 
Other current assets consisted of the following:
 
 
December 31,
2013
 
December 31,
2012
 
 
(in millions)
Value added tax receivable
 
$
177

 
$
194

Deferred income taxes (Note 14)
 
133

 
148

Prepaid insurance and other expenses
 
59

 
86

Reimbursable engineering costs
 
76

 
52

Notes receivable
 
45

 
22

Debt issuance costs (Note 11)
 
10

 
17

Income and other taxes receivable
 
57

 
47

Deposits to vendors
 
9

 
15

Derivative financial instruments (Note 17)
 
15

 
21

Other
 
23

 
21

Total
 
$
604

 
$
623

Schedule of Other Assets, Noncurrent 
Other long-term assets consisted of the following:
 
 
December 31,
2013
 
December 31,
2012
 
 
(in millions)
Deferred income taxes (Note 14)
 
$
283

 
$
281

Debt issuance costs (Note 11)
 
43

 
55

Income and other taxes receivable
 
123

 
88

Reimbursable engineering costs
 
79

 
50

Value added tax receivable
 
29

 
33

Derivative financial instruments (Note 17)
 
5

 
6

Other
 
64

 
69

Total
 
$
626

 
$
582

Investments in Affiliates (Tables)
Schedule of Equity Method Investments 
The following is a summary of the combined financial information of significant affiliates accounted for under the equity method as of December 31, 2013 and 2012 and for the years ended December 31, 2013, 2012 and 2011 (unaudited):
 
December 31,
 
2013
 
2012
 
(in millions)
Current assets
$
608

 
$
688

Non-current assets
474

 
449

Total assets
$
1,082

 
$
1,137

Current liabilities
$
362

 
$
411

Non-current liabilities
257

 
235

Shareholders’ equity
463

 
491

Total liabilities and shareholders’ equity
$
1,082

 
$
1,137

 
Year Ended December 31,
 
2013
 
2012
 
2011
 
(in millions)
Net sales
$
1,773

 
$
1,737

 
$
1,750

Gross profit
237

 
184

 
159

Net income
63

 
43

 
25

Investments in and Advances to Affiliates 
A summary of transactions with affiliates is shown below:
 
Year Ended December 31,
 
2013
 
2012
 
2011
 
(in millions)
Sales to affiliates
$
33

 
$
36

 
$
66

Purchases from affiliates
$
113

 
$
112

 
$
129

Property, Net (Tables)
Property, Plant and Equipment
Property, net consisted of:
 
 
Estimated Useful
Lives
 
December 31,
 
 
2013
 
2012
 
 
(Years)
 
(in millions)
Land
 
—
 
$
172

 
$
169

Land and leasehold improvements
 
3-20
 
100

 
93

Buildings
 
40
 
665

 
626

Machinery, equipment, and tooling
 
3-20
 
3,311

 
2,712

Furniture and office equipment
 
3-10
 
214

 
178

Construction in progress
 
—
 
344

 
265

Total
 
 
 
4,806

 
4,043

Less: accumulated depreciation
 
 
 
(1,590
)
 
(1,183
)
Total property, net
 
 
 
$
3,216

 
$
2,860

Intangible Assets and Goodwill (Tables)
Schedule of Acquired Finite and Infinite-Lived Intangible Assets and Goodwill by Major Class 
The changes in the carrying amount of intangible assets and goodwill were as follows as of December 31, 2013 and 2012. See Note 20. Acquisitions and Divestitures for a further description of the MVL acquisition.
 
 
 
As of December 31, 2013
 
As of December 31, 2012:
 
Estimated Useful
Lives
 
Gross
Carrying
Amount
 
Accumulated
Amortization
 
Net
Carrying
Amount
 
Gross
Carrying
Amount
 
Accumulated
Amortization
 
Net
Carrying
Amount
 
(Years)
 
(in millions)
 
(in millions)
Amortized intangible assets:
 
 
 
 
 
 
 
 
 
 
 
 
 
Patents and developed technology
6-15
 
$
671

 
$
201

 
$
470

 
$
636

 
$
142

 
$
494

Customer relationships
6-10
 
297

 
125

 
172

 
293

 
85

 
208

Trade names
6-20
 
102

 
21

 
81

 
103

 
16

 
87

Total
 
 
1,070

 
347

 
723

 
1,032

 
243

 
789

Unamortized intangible assets:
 
 
 
 
 
 
 
 
 
 
 
 
 
In-process research & development
—
 
—

 
—

 
—

 
14

 
—

 
14

Goodwill
—
 
496

 
—

 
496

 
473

 
—

 
473

Total
 
 
$
1,566

 
$
347

 
$
1,219

 
$
1,519

 
$
243

 
$
1,276

Schedule of Finite-Lived Intangible Assets Amortization Expense 
Estimated amortization expense for the years ending December 31, 2014, 2015, 2016, 2017 and 2018 is presented below:
 
Year Ending December 31,
 
2014
 
2015
 
2016
 
2017
 
2018
 
(in millions)
Estimated amortization expense
$
97

 
$
88

 
$
81

 
$
78

 
$
70

Schedule of Gross Carrying Amounts of Intangible Assets and Goodwill 
A roll-forward of the gross carrying amounts of intangible assets for the years ended December 31, 2013 and 2012 is presented below:
 
2013
 
2012
 
(in millions)
Balance at January 1
$
1,519

 
$
758

Acquisitions
12

 
733

Foreign currency translation and other
35

 
28

Balance at December 31
$
1,566

 
$
1,519

Schedule of Accumulated Amortization of Intangible Assets and Goodwill 
A roll-forward of the accumulated amortization for the years ended December 31, 2013 and 2012 is presented below:
 
2013
 
2012
 
(in millions)
Balance at January 1
$
243

 
$
162

Amortization
104

 
84

Foreign currency translation and other
—

 
(3
)
Balance at December 31
$
347

 
$
243

Schedule of Goodwill 
A roll-forward of the carrying amount of goodwill, by operating segment, for the years ended December 31, 2013 and 2012 is presented below:
 
Electrical/Electronic Architecture
 
Powertrain Systems
 
Total
 
(in millions)
Balance at January 1, 2012
$
—

 
$
8

 
$
8

Acquisitions
454

 
—

 
454

Foreign currency translation and other
11

 
—

 
11

Balance at December 31, 2012
$
465

 
$
8

 
$
473

Foreign currency translation and other
22

 
1

 
23

Balance at December 31, 2013
$
487

 
$
9

 
$
496



Liabilities (Tables)
Accrued Liabilities 
Accrued liabilities consisted of the following:
 
 
December 31,
2013
 
December 31,
2012
 
 
(in millions)
Payroll-related obligations
 
$
269

 
$
259

Employee benefits, including current pension obligations
 
130

 
123

Executive long-term incentive plan (Note 21)
 
—

 
20

Income and other taxes payable
 
280

 
261

Warranty obligations (Note 9)
 
75

 
92

Restructuring (Note 10)
 
94

 
118

Customer deposits
 
38

 
35

Deferred income taxes (Note 14)
 
1

 
12

Derivative financial instruments (Note 17)
 
16

 
12

Accrued interest
 
24

 
9

Other
 
311

 
300

Total
 
$
1,238

 
$
1,241

Liabilities, Noncurrent 
Other long-term liabilities consisted of the following:
 
 
December 31,
2013
 
December 31,
2012
 
 
(in millions)
Environmental (Note 13)
 
$
18

 
$
18

Extended disability benefits
 
9

 
12

Warranty obligations (Note 9)
 
94

 
74

Restructuring (Note 10)
 
45

 
45

Payroll-related obligations
 
12

 
11

Accrued income taxes
 
34

 
38

Deferred income taxes (Note 14)
 
151

 
185

Derivative financial instruments (Note 17)
 
6

 
1

Other
 
40

 
50

Total
 
$
409

 
$
434

Warranty Obligations (Tables)
Schedule of Product Warranty Liability
The table below summarizes the activity in the product warranty liability for the years ended December 31, 2013 and 2012:
 
Year Ended December 31,
 
2013
 
2012
 
(in millions)
Accrual balance at beginning of year
$
166

 
$
315

Provision for estimated warranties incurred during the year
68

 
56

Provision for changes in estimate for pre-existing warranties
(4
)
 
(42
)
Settlements made during the year (in cash or in kind)
(68
)
 
(171
)
Foreign currency translation and other
7

 
8

Accrual balance at end of year
$
169

 
$
166

Restructuring (Tables)
Schedule of Restructuring and Related Costs 
The following table summarizes the restructuring charges recorded for the years ended December 31, 2013, 2012 and 2011 by operating segment:
 
 
Year Ended December 31,
Segment
 
2013
 
2012
 
2011
 
 
(in millions)
Electrical/Electronic Architecture
 
$
28

 
$
49

 
$
12

Powertrain Systems
 
52

 
25

 
12

Electronics and Safety
 
56

 
89

 
5

Thermal Systems
 
9

 
8

 
2

Total
 
$
145

 
$
171

 
$
31

Schedule of Restructuring Reserve by Type of Cost 
The table below summarizes the activity in the restructuring liability for the years ended December 31, 2013 and 2012:
 
 
Employee
Termination
Benefits
Liability
 
Other Exit
Costs Liability
 
Total
 
 
(in millions)
Accrual balance at January 1, 2012
 
$
86

 
$
10

 
$
96

Provision for estimated expenses incurred during the year
 
166

 
5

 
171

Payments made during the year
 
(102
)
 
(7
)
 
(109
)
Foreign currency and other
 
7

 
(2
)
 
5

Accrual balance at December 31, 2012
 
$
157

 
$
6

 
$
163

Provision for estimated expenses incurred during the year
 
143

 
2

 
145

Payments made during the year
 
(166
)
 
(4
)
 
(170
)
Foreign currency and other
 
1

 
—

 
1

Accrual balance at December 31, 2013
 
$
135

 
$
4

 
$
139

Debt (Tables)
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 December 31, 2013 and December 31, 2012:
 
December 31,
2013
 
December 31,
2012
 
(in millions)
Accounts receivable factoring
$
1

 
$
19

5.875%, senior notes, due 2019
500

 
500

6.125%, senior notes, due 2021
500

 
500

5.000%, senior notes, due 2023
800

 
—

Tranche A Term Loan, due 2018
564

 
567

Tranche B Term Loan, due 2017
—

 
772

Capital leases and other
47

 
106

Total debt
2,412

 
2,464

Less: current portion
(61
)
 
(140
)
Long-term debt
$
2,351

 
$
2,324

Schedule of Maturities of Long-term Debt 
The principal maturities of debt, at nominal value follows:
Year
 
Debt and
Capital Lease
Obligations
 
 
(in millions)
2014
 
$
61

2015
 
47

2016
 
55

2017
 
44

2018
 
403

Thereafter
 
1,802

Total
 
$
2,412

Schedule of Interest Rates 
The Applicable Rates under the 2012 Credit Agreement and current Credit Agreement are set forth below:
 
Credit Agreement (December 31, 2013)
 
2012 Credit Agreement (December 31, 2012)
 
LIBOR plus
 
ABR plus
 
LIBOR plus
 
ABR plus
Revolving Credit Facility
1.25
%
 
0.25
%
 
2.00
%
 
1.00
%
Tranche A Term Loan
1.25
%
 
0.25
%
 
2.00
%
 
1.00
%
Tranche B Term Loan
N/A

 
N/A

 
2.50
%
 
1.50
%
Schedule of Line of Credit Facilities 
As of December 31, 2013, Delphi Corporation selected the one-month LIBOR interest rate option, as detailed in the table below, and the amounts outstanding, and rates effective as of December 31, 2013 were based on Delphi’s current credit rating and applicable margin for the Credit Agreement:
 
 
 
 
Borrowings as of
 

 
 
 
 
December 31, 2013
 
Rates effective as of
 
 
LIBOR plus
 
(in millions)
 
December 31, 2013
Revolving Credit Facility
 
1.25
%
 
$
—

 
—
%
Tranche A Term Loan
 
1.25
%
 
564

 
1.4375
%

Pension Benefits (Tables)
Schedule of Accumulated and Projected Benefit Obligations 
The projected benefit obligation (“PBO”), accumulated benefit obligation (“ABO”), and fair value of plan assets for pension plans with accumulated benefit obligations in excess of plan assets and with plan assets in excess of accumulated benefit obligations are as follows:
 
U.S. Plans
 
Non-U.S. Plans
 
2013
 
2012
 
2013
 
2012
 
(in millions)
Plans with ABO in Excess of Plan Assets            
PBO
$
69

 
$
80

 
$
1,956

 
$
1,813

ABO
69

 
80

 
1,749

 
1,619

Fair value of plan assets at end of year
—

 
—

 
1,052

 
973

 
Plans with Plan Assets in Excess of ABO            
PBO
$
—

 
$
—

 
$
149

 
$
159

ABO
—

 
—

 
100

 
103

Fair value of plan assets at end of year
—

 
—

 
147

 
136

 
Total
PBO
$
69

 
$
80

 
$
2,105

 
$
1,972

ABO
69

 
80

 
1,849

 
1,722

Fair value of plan assets at end of year
—

 
—

 
1,199

 
1,109

Schedule of Assumptions Used 
Assumptions used to determine benefit obligations at December 31:
 
Pension Benefits
 
U.S. Plans
 
Non-U.S. Plans
 
2013
 
2012
 
2013
 
2012
Weighted-average discount rate
3.00
%
 
2.40
%
 
4.58
%
 
4.41
%
Weighted-average rate of increase in compensation levels
N/A

 
N/A

 
3.85
%
 
3.50
%
Assumptions used to determine net expense for years ended December 31:
 
Pension Benefits
 
U.S. Plans
 
Non-U.S. Plans
 
2013
 
2012
 
2011
 
2013
 
2012
 
2011
Weighted-average discount rate
2.40
%
 
3.30
%
 
4.10
%
 
4.41
%
 
5.24
%
 
5.69
%
Weighted-average rate of increase in compensation levels
N/A

 
N/A

 
N/A

 
3.50
%
 
3.66
%
 
3.88
%
Expected long-term rate of return on plan assets
N/A

 
N/A

 
N/A

 
6.44
%
 
6.43
%
 
6.65
%
Schedule of Change in Assumptions Used 
Delphi’s pension expense for 2014 is determined at the 2013 year end measurement date. For purposes of analysis, the following table highlights the sensitivity of the Company’s pension obligations and expense to changes in key assumptions:
Change in Assumption
 
Impact on Pension Expense
  
Impact on PBO    
25 basis point (“bp”) decrease in discount rate
 
+ $8 million
  
+ $ 93 million
25 bp increase in discount rate
 
- $5 million
  
- $ 87 million
25 bp decrease in long-term expected return on assets
 
+ $3 million
  
—
25 bp increase in long-term expected return on assets
 
- $3 million
  
—
Schedule of Expected Benefit Payments 
The following benefit payments, which reflect expected future service, as appropriate, are expected to be paid:
 
Projected Pension Benefit Payments
 
U.S. Plans    
 
Non-U.S. Plans    
 
(in millions)
2014
$
12

 
$
78

2015
7

 
72

2016
9

 
78

2017
8

 
83

2018
7

 
90

2019 – 2023
27

 
555

Schedule of Allocation of Plan Assets 
The fair values of Delphi’s pension plan assets weighted-average asset allocations at December 31, 2013 and 2012, by asset category, are as follows:
 
Fair Value Measurements at December 31, 2013
Asset Category
Total    
 
Quoted Prices
in Active
Markets for
Identical
Assets
(Level  1)
 
Significant
Observable
Inputs
    (Level 2)    
 
Significant
Unobservable
Inputs
    (Level 3)    
 
(in millions)
Cash
$
64

 
$
64

 
$
—

 
$
—

Time deposits
7

 
—

 
7

 
—

Equity mutual funds
412

 
—

 
412

 
—

Bond mutual funds
435

 
—

 
435

 
—

Real estate trust funds
45

 
—

 
—

 
45

Hedge Funds
90

 
—

 
—

 
90

Insurance contracts
4

 
—

 
—

 
4

Debt securities
85

 
85

 
—

 
—

Equity securities
57

 
57

 
—

 
—

Total
$
1,199

 
$
206

 
$
854

 
$
139

 
Fair Value Measurements at December 31, 2012
Asset Category
Total    
 
Quoted Prices
in Active
Markets for
Identical
Assets
(Level  1)
 
Significant
Observable
Inputs
    (Level 2)    
 
Significant
Unobservable
Inputs
    (Level 3)    
 
(in millions)
Cash
$
58

 
$
58

 
$
—

 
$
—

Time deposits
2

 
—

 
2

 
—

Equity mutual funds
313

 
—

 
313

 
—

Bond mutual funds
430

 
—

 
430

 
—

Real estate trust funds
42

 
—

 
—

 
42

Hedge Funds
91

 
—

 
—

 
91

Commodities Fund
39

 
—

 
39

 
—

Insurance contracts
3

 
—

 
—

 
3

Debt securities
76

 
76

 
—

 
—

Equity securities
55

 
55

 
—

 
—

Total
$
1,109

 
$
189

 
$
784

 
$
136

Schedule of Level Three Defined Benefit Plan Assets Roll Forward 
 
Fair Value Measurements Using Significant
Unobservable Inputs (Level 3)
 
Real Estate Trust Fund    
 
Hedge Funds    
 
Insurance Contracts
 
(in millions)
Beginning balance at December 31, 2011
$
43

 
$
81

 
$
—

Actual return on plan assets:
 
 
 
 
 
Relating to assets still held at the reporting date
(1
)
 
4

 
—

Assets assumed in acquisition
—

 
—

 
3

Purchases, sales, and settlements
—

 
6

 
—

Ending balance at December 31, 2012
$
42

 
$
91

 
$
3

Actual return on plan assets:
 
 
 
 
 
Relating to assets still held at the reporting date
2

 
4

 
—

Purchases, sales, and settlements
1

 
(5
)
 
1

Ending balance at December 31, 2013
$
45

 
$
90

 
$
4

Schedule of Net Funded Status 
The amounts shown below reflect the change in the non-U.S. defined benefit pension obligations during 2013 and 2012.
 
Year ended
December 31,
2013
 
Year ended
December 31,
2012
 
(in millions)
Benefit obligation at beginning of year
$
1,972

 
$
1,596

Liabilities assumed in the acquisition
—

 
29

Divestitures
—

 
(5
)
Service cost
53

 
44

Interest cost
85

 
84

Actuarial loss
39

 
234

Benefits paid
(86
)
 
(82
)
Impact of curtailments
(5
)
 
—

Plan amendments
—

 
2

Exchange rate movements and other
47

 
70

Benefit obligation at end of year
$
2,105

 
$
1,972

Change in plan assets:
 
 
 
Fair value of plan assets at beginning of year
$
1,109

 
$
987

Assets acquired in the acquisition
—

 
5

Actual return on plan assets
56

 
91

Delphi contributions
98

 
59

Benefits paid
(86
)
 
(82
)
Exchange rate movements and other
22

 
49

Fair value of plan assets at end of year
$
1,199

 
$
1,109

Underfunded status
$
(906
)
 
$
(863
)
Amounts recognized in the consolidated balance sheets consist of:
 
 
 
Current liabilities
(14
)
 
(23
)
Non-current liabilities
(892
)
 
(840
)
Total
$
(906
)
 
$
(863
)
Amounts recognized in accumulated other comprehensive income consist of (pre-tax):
 
 
 
Actuarial loss
$
278

 
$
228

Prior service cost
1

 
1

Total
$
279

 
$
229

Schedule of Net Benefit Costs 
 
Non-U.S. Plans
 
Year Ended December 31,
 
2013
 
2012
 
2011
 
(in millions)
Service cost
$
53

 
$
44

 
$
45

Interest cost
85

 
84

 
87

Expected return on plan assets
(70
)
 
(65
)
 
(61
)
Settlement loss (gain)
2

 
—

 
(1
)
Curtailment gain
—

 
—

 
(3
)
Amortization of actuarial losses
7

 
—

 
—

Other
1

 
1

 
—

Net periodic benefit cost
$
78

 
$
64

 
$
67

Schedule of Net Funded Status 
The amounts shown below reflect the change in the U.S. defined benefit pension obligations during 2013 and 2012.
 
Year Ended December 31, 2013
 
Year Ended December 31, 2012
 
(in millions)
Benefit obligation at beginning of year
$
80

 
$
83

Interest cost
2

 
3

Actuarial (gain) loss
(2
)
 
4

Benefits paid
(11
)
 
(10
)
Benefit obligation at end of year
$
69

 
$
80

Change in plan assets:
 
 
 
Fair value of plan assets at beginning of year
$
—

 
$
—

Delphi contributions
11

 
10

Benefits paid
(11
)
 
(10
)
Fair value of plan assets at end of year
$
—

 
$
—

Underfunded status
$
(69
)
 
$
(80
)
Amounts recognized in the consolidated balance sheets consist of:
 
 
 
Current liabilities
(12
)
 
(11
)
Non-current liabilities
(57
)
 
(69
)
Total
$
(69
)
 
$
(80
)
Amounts recognized in accumulated other comprehensive income consist of (pre-tax):
 
 
 
Actuarial loss
$
11

 
$
13

Total
$
11

 
$
13

Schedule of Net Benefit Costs 
Benefit costs presented below were determined based on actuarial methods and included the following:
 
U.S. Plans
 
Year Ended December 31,
 
2013
 
2012
 
2011
 
(in millions)
Interest cost
$
2

 
$
3

 
$
3

Net periodic benefit cost
$
2

 
$
3

 
$
3

Commitments And Contingencies (Tables)
Schedule of Future Minimum Rental Payments for Operating Leases
As of December 31, 2013, Delphi had minimum lease commitments under non-cancellable operating leases totaling $467 million, which become due as follows:
Year
Minimum Future
Operating Lease Commitments
 
(in millions)
2014
$
108

2015
91

2016
77

2017
61

2018
42

Thereafter
88

Total
$
467

Income Taxes (Tables)
Schedule of Income before Income Tax, Domestic and Foreign 
Income before income taxes and equity income for U.S. and non-U.S. operations are as follows:
 
Year ended
December 31,
2013
 
Year ended
December 31,
2012
 
Year ended
December 31,
2011
 
(in millions)
U.S. income
$
233

 
$
470

 
$
149

Non-U.S. income
1,290

 
875

 
1,357

Income before income taxes and equity income
$
1,523

 
$
1,345

 
$
1,506

Schedule of Components of Income Tax Expense (Benefit) 
The provision (benefit) for income taxes is comprised of:
 
Year ended
December 31,
2013
 
Year ended
December 31,
2012
 
Year ended
December 31,
2011
 
(in millions)
Current income tax expense:
 
 
 
 
 
U.S. federal
$
53

 
$
71

 
$
104

Non-U.S.
247

 
199

 
232

U.S. state and local
6

 
5

 
5

Total current
306

 
275

 
341

Deferred income tax (benefit) expense, net:
 
 
 
 
 
U.S. federal
(28
)
 
24

 
(45
)
Non-U.S.
(21
)
 
(88
)
 
12

U.S. state and local
(1
)
 
1

 
(3
)
Total deferred
(50
)
 
(63
)
 
(36
)
Total income tax provision
$
256

 
$
212

 
$
305

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:
 
 
Year Ended December 31,
 
 
2013
 
2012
 
2011
 
 
(in millions)
Notional U.S. federal income taxes at statutory rate
 
$
533

 
$
471

 
$
527

Income taxed at other rates
 
(281
)
 
(200
)
 
(225
)
Change in valuation allowance
 
6

 
(29
)
 
(52
)
Other change in tax reserves
 
(13
)
 
(13
)
 
17

Withholding taxes
 
56

 
22

 
56

Tax credits
 
(58
)
 
(13
)
 
(26
)
Change in tax law
 
15

 
6

 
13

Tax settlements
 
—

 
(26
)
 
—

Other adjustments
 
(2
)
 
(6
)
 
(5
)
Total income tax expense
 
$
256

 
$
212

 
$
305

Effective tax rate
 
17
%
 
16
%
 
20
%
Schedule of Deferred Tax Assets and Liabilities 
Significant components of the deferred tax assets and liabilities are as follows:
 
December 31,
 
2013
 
2012
 
(in millions)
Deferred tax assets:
 
 
 
Pension
$
208

 
$
200

Employee benefits
28

 
19

Net operating loss carryforwards
614

 
471

Warranty and other liabilities
125

 
127

Other
126

 
147

Total gross deferred tax assets
1,101

 
964

Less: valuation allowances
(642
)
 
(502
)
Total deferred tax assets (1)
$
459

 
$
462

Deferred tax liabilities:
 
 
 
Fixed assets
$
39

 
$
48

Tax on unremitted profits of certain foreign subsidiaries
59

 
31

Intangibles
97

 
151

Total gross deferred tax liabilities
195

 
230

Net deferred tax assets
$
264

 
$
232

(1)
Reflects gross amount before jurisdictional netting of deferred tax assets and liabilities.
Schedule of Deferred Tax Assets and Liabilities, Balance Sheet Location 
Net current and non-current deferred tax assets and liabilities are included in the consolidated balance sheets as follows:
 
December 31,
 
2013
 
2012
 
(in millions)
Current assets
$
133

 
$
148

Current liabilities
(1
)
 
(12
)
Long-term assets
283

 
281

Long-term liabilities
(151
)
 
(185
)
Total deferred tax asset
$
264

 
$
232

Schedule of Unrecognized Tax Benefits Roll Forward 
A reconciliation of the gross change in the unrecognized tax benefits balance, excluding interest and penalties is as follows: 
 
Year ended
December 31,
2013
 
Year ended
December 31,
2012
 
Year ended
December 31,
2011
 
(in millions)
Balance at beginning of year
$
74

 
$
99

 
$
82

Liabilities assumed in acquisition
—

 
2

 
—

Additions related to current year
—

 
3

 
43

Additions related to prior years
16

 
10

 
7

Reductions related to prior years
(25
)
 
(40
)
 
(24
)
Reductions due to expirations of statute of limitations
(4
)
 
—

 
(6
)
Settlements-cash
—

 
—

 
(3
)
Balance at end of year
$
61

 
$
74

 
$
99

Shareholders' Equity And Net Income Per Share (Tables)
Schedule of Weighted Average Shares on Retroactive Basis 
The impact of the above transactions on weighted average shares outstanding follows:
 
Year Ended December 31, 
2011
 
(shares in millions)
Weighted average ordinary shares outstanding as result of the initial public offering
328.24

Redemption of Class A & C membership interests (1)
86.11

Repurchase of Class B membership interests
6.91

Weighted average ordinary shares outstanding for the period
421.26

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:
 
Year Ended December 31,
 
2013
 
2012
 
2011
 
(in millions, except per share data)
Numerator:
 
 
 
 
 
Net income attributable to Delphi
$
1,212

 
$
1,077

 
$
1,145

Denominator:

 

 
 
Weighted average ordinary shares outstanding, basic
310.82

 
322.94

 
421.26

Dilutive shares related to RSUs
0.98

 
0.35

 
—

Weighted average ordinary shares outstanding, including dilutive shares
311.80

 
323.29


421.26

Net income per share attributable to Delphi:
 
 
 
 
 
Basic
$
3.90

 
$
3.34

 
$
2.72

Diluted
$
3.89

 
$
3.33

 
$
2.72

Anti-dilutive securities share impact:
—

 
3.15

 
1.86

Schedule of Share Repurchases 
A summary of the ordinary shares repurchased is as follows:
 
Year Ended December 31,
 
2013
 
2012
Total Number of Shares Repurchased
9,106,434

 
13,421,742

Average Price Paid per Share
$
50.14

 
$
30.02

Total (in millions)
$
457

 
$
403

Schedule of Dividends Declared 
During the year ended December 31, 2013, the Company declared and paid cash dividends per common share as follows:
 
2013
 
Dividend
 
Amount
Three months ended:
 Per Share
 
(in millions)
December 31
$
0.17

 
$
52

September 30
0.17

 
53

June 30
0.17

 
53

March 31
0.17

 
53

Total
$
0.68

 
$
211

Schedule of Membership Interests Issued 
The following table summarizes the membership interests issued as of December 31, 2010:
Class
 
Members
 
Membership
Interests Issued
 
Date
Issued
 
Membership
Interests as of
December 31,
2010
 
 
 
 
 
 
 
 
(in millions)
A
 
GM
 
1,750,000

 
October 2009
 
$
2,083

B
 
DIP Lenders(1)
 
354,500

 
October 2009
 
2,816

C
 
PBGC
 
100,000

 
October 2009
 
646

E-1
 
Board of Managers
 
24,000

 
June 2010
 
5

 
 
 
 
 
 
Total
 
$
5,550

(1)
Included a controlling equity stake for affiliates of Silver Point Capital and Elliot Management. Subsequent to October 6, 2009, Class B membership interests traded on the 144A market and, therefore, the holders of Class B membership interests changed over time.
Schedule of Allocation of Net Income to Membership Interests 
The following table summarizes the allocation of net income (loss) to the membership interest classes for the 2011 period prior to the initial public offering.
 
Period from January 1, 2011 to Initial Public Offering Net Income Attributable to Membership
Interests
Class
(in millions)
A
$
76

B
930

C
25

E-1
4

 
$
1,035

Changes in Accumulated Other Comprehensive Income (Tables)
Schedule of Accumulated Other Comprehensive Income (Loss)
The changes in accumulated other comprehensive income (loss) attributable to Delphi (net of tax) are as follows:
 
Year Ended December 31, 2013
 
Year Ended December 31, 2012
 
Year Ended December 31, 2011
 
(in millions)
Foreign currency translation adjustments:
 
 
 
 
 
Balance at beginning of year
$
(62
)
 
$
(120
)
 
$
(22
)
Aggregate adjustment for the year
45

 
58

 
(98
)
Balance at end of year
(17
)
 
(62
)
 
(120
)
 
 
 
 
 
 
Gains (losses) on derivatives:
 
 
 
 
 
Balance at beginning of year
$
14

 
$
(45
)
 
$
53

Other comprehensive income before reclassifications (net tax effect of $0 million, $33 million and $40 million)
(14
)
 
57

 
(69
)
Reclassification to income (net tax effect of $5 million, $0 million and $17 million)
2

 
2

 
(29
)
Balance at end of year
2

 
14

 
(45
)
 
 
 
 
 
 
Pension and postretirement plans:
 
 
 
 
 
Balance at beginning of year
$
(189
)
 
$
(18
)
 
$
59

Other comprehensive income before reclassifications (net tax effect of $7 million, $57 million and $22 million)
(40
)
 
(171
)
 
(77
)
Reclassification to income (net tax effect of $2 million, $0 million and $0 million)
7

 
—

 
—

Balance at end of year
(222
)
 
(189
)
 
(18
)
 
 
 
 
 
 
Accumulated other comprehensive (loss) income, end of year
$
(237
)
 
$
(237
)
 
$
(183
)
Reclassifications from accumulated other comprehensive income to income for the year ended December 31, 2013 were as follows:
Reclassification out of Accumulated Other Comprehensive Income
Details about Accumulated Other Comprehensive Income Components
 
Year Ended December 31, 2013
 
Affected Line Item in the Statement of Operations
 
 
(in millions)
 
 
Gains (losses) on derivatives:
 
 
 
Commodity derivatives
 
$
(22
)
 
Cost of sales
Foreign currency derivatives
 
23

 
Cost of sales
Foreign currency derivatives
 
2

 
Other income
 
 
3

 
Total income before income taxes
 
 
(5
)
 
Income tax expense
 
 
(2
)
 
Net loss
 
 
—

 
Net income attributable to noncontrolling interest
 
 
$
(2
)
 
Net loss attributable to Delphi
 
 
 
 
 
Pension and postretirement plans:
 
 
 
 
Actuarial gains/(losses)
 
$
(9
)
 
(1)
 
 
(9
)
 
Total loss before income taxes
 
 
2

 
Income tax benefit
 
 
(7
)
 
Net loss
 
 
—

 
Net income attributable to noncontrolling interest
 
 
$
(7
)
 
Net loss attributable to Delphi
 
 
 
 
 
Total reclassifications for the year
 
$
(9
)
 
 
(1)
These accumulated other comprehensive loss components are included in the computation of net periodic pension cost (see Note 12. Pension Benefits for additional details).
Derivatives And Hedging Activities (Tables)
Schedule of Notional Amounts of Outstanding Derivative Positions 
As of December 31, 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
Hedged
 
Unit of
Measure
 
Notional Amount
(Approximate USD Equivalent)
 
 
(in thousands)
 
(in millions)
Copper
 
80,695

 
pounds
 
$
265

Primary Aluminum
 
37,263

 
pounds
 
30

Secondary Aluminum
 
21,458

 
pounds
 
20

Foreign Currency
 
Quantity
Hedged
 
Unit of
Measure
 
Notional Amount
(Approximate USD Equivalent)
 
 
(in millions)
Mexican Peso
 
10,144

 
MXN
 
$
775

Euro
 
184

 
EUR
 
255

New Turkish Lira
 
229

 
TRY
 
105

Polish Zloty
 
267

 
PLN
 
90

Brazilian Real
 
188

 
BRL
 
80

Hungarian Forint
 
12,586

 
HUF
 
60

Chinese Yuan Renminbi
 
177

 
CNY
 
30

Romanian Leu
 
99

 
RON
 
30

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 December 31, 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
 
December 31,
2013
 
Balance Sheet Location
 
December 31,
2013
 
December 31,
2013
 
(in millions)
 
 
Designated derivatives instruments:
 
 
Commodity derivatives
Other Current Assets
 
$
2

 
Accrued Liabilities
 
$
9

 
 
Foreign currency derivatives*
Other Current Assets
 
16

 
Other Current Assets
 
3

 
13

Foreign currency derivatives*
Accrued Liabilities
 
3

 
Accrued Liabilities
 
10

 
(7
)
Commodity derivatives
Other Long-Term Assets
 
1

 
Other Long-Term Liabilities
 
2

 
 
Foreign currency derivatives*
Other Long-Term Assets
 
5

 
Other Long-Term Assets
 
1

 
4

Foreign currency derivatives*
Other Long-Term Liabilities
 
2

 
Other Long-Term Liabilities
 
6

 
(4
)
Total
 
 
$
29

 
 
 
$
31

 
 
Derivatives not designated:
 
 
 
 
 
 
 
 
 
Foreign currency derivatives
Other Current Assets
 
$
3

 
Other Current Assets
 
3

 
—

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 pre-tax effect of derivative financial instruments in the consolidated statement of operations and consolidated statement of comprehensive income for the year ended December 31, 2013 is as follows:
Year Ended December 31, 2013
 
(Loss) Gain
Recognized in
OCI (Effective
Portion)
 
(Loss) Gain
Reclassified
from OCI
into Income
(Effective
Portion)
 
Gain Recognized
in Income
(Ineffective
Portion Excluded
from Effectiveness
Testing)
 
 
(in millions)
Designated derivatives instruments:
 
 
 
 
 
 
Commodity derivatives
 
$
(25
)
 
$
(22
)
 
$
—

Foreign currency derivatives
 
11

 
25

 
—

Total
 
$
(14
)
 
$
3

 
$
—

 
Gain
Recognized in
Income
Derivatives not designated:
 
Commodity derivatives
$
—

Foreign currency derivatives
1

Total
$
1

The pre-tax effect of derivative financial instruments in the consolidated statement of operations and consolidated statement of comprehensive income for the year ended December 31, 2012 is as follows:
Year Ended December 31, 2012
 
Gain
Recognized in
OCI (Effective
Portion)
 
(Loss) Gain
Reclassified
from OCI
into Income
(Effective
Portion)
 
Gain Recognized
in Income
(Ineffective
Portion Excluded
from Effectiveness
Testing)
 
 
(in millions)
Designated derivatives instruments:
 
 
 
 
 
 
Commodity derivatives
 
$
11

 
$
(12
)
 
$
—

Foreign currency derivatives
 
79

 
10

 
1

Total
 
$
90

 
$
(2
)
 
$
1

 
Loss Recognized in
Income
Derivatives not designated:
 
Commodity derivatives
$
—

Foreign currency derivatives
(5
)
Total
$
(5
)
Fair Value Of Financial Instruments (Tables)
Fair Value, Assets Measured on Recurring Basis 
As of December 31, 2013 and December 31, 2012, Delphi had the following assets measured at fair value on a recurring basis:
 
 
Total      
 
Quoted Prices in
Active Markets
Level 1
 
Significant Other
Observable Inputs
Level 2
 
Significant
Unobservable
Inputs
Level 3
 
 
(in millions)
As of December 31, 2013
 
 
Commodity derivatives
 
$
3

 
$
—

 
$
3

 
$
—

Foreign currency derivatives
 
17

 
—

 
17

 
—

Total
 
$
20

 
$
—

 
$
20

 
$
—

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 December 31, 2013 and December 31, 2012, Delphi had the following liabilities measured at fair value on a recurring basis:
 
 
Total      
 
Quoted Prices in
Active Markets
Level 1
 
Significant Other
Observable Inputs
Level 2
 
Significant
Unobservable
Inputs
Level 3
 
 
(in millions)
As of December 31, 2013
 
 
Commodity derivatives
 
$
11

 
$
—

 
$
11

 
$
—

Foreign currency derivatives
 
11

 
—

 
11

 
—

Total
 
$
22

 
$
—

 
$
22

 
$
—

As of December 31, 2012:
 
 
 
 
 
 
 
 
Commodity derivatives
 
$
8

 
$
—

 
$
8

 
$
—

Foreign currency derivatives
 
5

 
—

 
5

 
—

Total
 
$
13

 
$
—

 
$
13

 
$
—

Other Income, Net (Tables)
Interest and Other Income
Other income, net included:
 
Year Ended December 31,
 
2013
 
2012
 
2011
 
(in millions)
Interest income
$
14

 
$
17

 
$
31

Costs associated with initial public offering
—

 
—

 
(44
)
Impairment - investment in available-for-sale security
—

 
—

 
(6
)
Loss on extinguishment of debt
(39
)
 
(1
)
 
(16
)
Costs associated with MVL acquisition
—

 
(13
)
 
—

Other, net
7

 
2

 
20

Other (expense) income, net
$
(18
)
 
$
5

 
$
(15
)
Acquisitions And Divestitures (Tables)
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

Share-Based Compensation (Tables)
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 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 the respective three-year performance period.
(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, 2012
 
51

 
19.90

Granted
 
1,953

 
31.08

Vested
 
(51
)
 
19.90

Forfeited
 
(54
)
 
30.81

Outstanding, December 31, 2012
 
1,899

 
31.09

Granted
 
1,526

 
41.72

Vested
 
(285
)
 
29.26

Forfeited
 
(222
)
 
34.55

Outstanding, December 31, 2013
 
2,918

 
36.55

Supplemental Guarantor And Non-Guarantor Condensed Consolidating Financial Statements (Tables)
Schedule of Condensed Income Statement 
Statement of Operations Year Ended December 31, 2013
 
 
Parent
Companies
 
Subsidiary
Issuer
 
Guarantor
Subsidiaries
 
Non-
Guarantor
Subsidiaries
 
Eliminations
 
Consolidated
 
 
(in millions)
Net sales
 
$
—

 
$
—

 
$
5,446

 
$
12,355

 
$
(1,338
)
 
$
16,463

Operating expenses:
 
 
 
 
 
 
 
 
 
 
 
 
Cost of sales
 
—

 
—

 
4,725

 
10,204

 
(1,362
)
 
13,567

Selling, general and administrative
 
87

 
—

 
202

 
673

 
1

 
963

Amortization
 
—

 
—

 
54

 
50

 
—

 
104

Restructuring
 
—

 
—

 
16

 
129

 
—

 
145

Total operating expenses
 
87

 
—

 
4,997

 
11,056

 
(1,361
)
 
14,779

Operating (loss) income
 
(87
)
 
—

 
449

 
1,299

 
23

 
1,684

Interest expense
 
(51
)
 
(194
)
 
(63
)
 
(12
)
 
177

 
(143
)
Other income (expense), net
 
66

 
25

 
1

 
67

 
(177
)
 
(18
)
(Loss) income before income taxes and equity income
 
(72
)
 
(169
)
 
387

 
1,354

 
23

 
1,523

Income tax (expense) benefit
 
(5
)
 
62

 
(101
)
 
(206
)
 
(6
)
 
(256
)
(Loss) income before equity income
 
(77
)
 
(107
)
 
286

 
1,148

 
17

 
1,267

Equity in net income of affiliates
 
—

 
—

 
—

 
34

 
—

 
34

Equity in net income (loss) of subsidiaries
 
1,289

 
326

 
—

 
—

 
(1,615
)
 
—

Net income (loss)
 
1,212

 
219

 
286

 
1,182

 
(1,598
)
 
1,301

Net income attributable to noncontrolling interest
 
—

 
—

 
—

 
89

 
—

 
89

Net income (loss) attributable to Delphi
 
$
1,212

 
$
219

 
$
286

 
$
1,093

 
$
(1,598
)
 
$
1,212


Statement of Operations Year Ended December 31, 2012
 
 
Parent
Companies
 
Subsidiary
Issuer
 
Guarantor
Subsidiaries
 
Non-
Guarantor
Subsidiaries
 
Eliminations
 
Consolidated
 
 
(in millions)
Net sales
 
$
—

 
$
—

 
$
5,482

 
$
11,467

 
$
(1,430
)
 
$
15,519

Operating expenses:
 
 
 
 
 
 
 
 
 
 
 
 
Cost of sales
 
—

 
—

 
4,688

 
9,632

 
(1,459
)
 
12,861

Selling, general and administrative
 
222

 
—

 
124

 
583

 
(2
)
 
927

Amortization
 
—

 
—

 
54

 
30

 
—

 
84

Restructuring
 
—

 
—

 
16

 
155

 
—

 
171

Total operating expenses
 
222

 
—

 
4,882

 
10,400

 
(1,461
)
 
14,043

Operating (loss) income
 
(222
)
 
—

 
600

 
1,067

 
31

 
1,476

Interest expense
 
(72
)
 
(180
)
 
(54
)
 
(14
)
 
184

 
(136
)
Other income (expense), net
 
58

 
97

 
(1
)
 
35

 
(184
)
 
5

(Loss) income before income taxes and equity income
 
(236
)
 
(83
)
 
545

 
1,088

 
31

 
1,345

Income tax (expense) benefit
 
(3
)
 
31

 
(140
)
 
(94
)
 
(6
)
 
(212
)
(Loss) income before equity income
 
(239
)
 
(52
)
 
405

 
994

 
25

 
1,133

Equity in net income of affiliates
 
—

 
—

 
—

 
27

 
—

 
27

Equity in net income (loss) of subsidiaries
 
1,316

 
409

 
—

 
—

 
(1,725
)
 
—

Net income (loss)
 
1,077

 
357

 
405

 
1,021

 
(1,700
)
 
1,160

Net income attributable to noncontrolling interest
 
—

 
—

 
—

 
83

 
—

 
83

Net income (loss) attributable to Delphi
 
$
1,077

 
$
357

 
$
405

 
$
938

 
$
(1,700
)
 
$
1,077


Statement of Operations Year Ended December 31, 2011
 
 
Parent
Companies
 
Subsidiary
Issuer
 
Guarantor
Subsidiaries
 
Non-
Guarantor
Subsidiaries
 
Eliminations
 
Consolidated
 
 
(in millions)
Net sales
 
$
—

 
$
—

 
$
5,292

 
$
12,225

 
$
(1,476
)
 
$
16,041

Operating expenses:
 
 
 
 
 
 
 
 
 
 
 
 
Cost of sales
 
—

 
—

 
4,754

 
10,124

 
(1,492
)
 
13,386

Selling, general and administrative
 
118

 
—

 
272

 
511

 
—

 
901

Amortization
 
—

 
—

 
53

 
26

 
—

 
79

Restructuring
 
—

 
—

 
3

 
28

 
—

 
31

Total operating expenses
 
118

 
—

 
5,082

 
10,689

 
(1,492
)
 
14,397

Operating (loss) income
 
(118
)
 
—

 
210

 
1,536

 
16

 
1,644

Interest expense
 
(37
)
 
(101
)
 
(1
)
 
(26
)
 
42

 
(123
)
Other (expense) income, net
 
(38
)
 
27

 
3

 
36

 
(43
)
 
(15
)
(Loss) income before income taxes and equity income
 
(193
)
 
(74
)
 
212

 
1,546

 
15

 
1,506

Income tax benefit (expense)
 
3

 
27

 
(91
)
 
(238
)
 
(6
)
 
(305
)
(Loss) income before equity income
 
(190
)
 
(47
)
 
121

 
1,308

 
9

 
1,201

Equity in net income of affiliates
 
—

 
—

 
—

 
22

 
—

 
22

Equity in net income (loss) of subsidiaries
 
1,335

 
121

 
—

 
—

 
(1,456
)
 
—

Net income (loss)
 
1,145

 
74

 
121

 
1,330

 
(1,447
)
 
1,223

Net income attributable to noncontrolling interest
 
—

 
—

 
—

 
78

 
—

 
78

Net income (loss) attributable to Delphi
 
$
1,145

 
$
74

 
$
121

 
$
1,252

 
$
(1,447
)
 
$
1,145

Schedule of Comprehensive Income (Loss) 
Statement of Comprehensive Income Year Ended December 31, 2013
 
 
Parent
Companies
 
Subsidiary
Issuer
 
Guarantor
Subsidiaries
 
Non-
Guarantor
Subsidiaries
 
Eliminations
 
Consolidated
 
 
(in millions)
Net income (loss)
 
$
1,212

 
$
219

 
$
286

 
$
1,182

 
$
(1,598
)
 
$
1,301

Other comprehensive (loss) income:
 
 
 
 
 
 
 
 
 
 
 
 
Currency translation adjustments
 
—

 
—

 
—

 
49

 
—

 
49

Net change in unrecognized (loss) gain on derivative instruments, net of tax
 
—

 
—

 
(18
)
 
6

 
—

 
(12
)
Employee benefit plans adjustment, net of tax
 
—

 
—

 
5

 
(38
)
 
—

 
(33
)
Other comprehensive (loss) income
 
—

 
—

 
(13
)
 
17

 
—

 
4

Equity in other comprehensive (loss) income of subsidiaries
 
—

 
(13
)
 
—

 
—

 
13

 
—

Comprehensive income (loss)
 
1,212

 
206

 
273

 
1,199

 
(1,585
)
 
1,305

Comprehensive income attributable to noncontrolling interests
 
—

 
—

 
—

 
93

 
—

 
93

Comprehensive income (loss) attributable to Delphi
 
$
1,212

 
$
206

 
$
273

 
$
1,106

 
$
(1,585
)
 
$
1,212


Statement of Comprehensive Income Year Ended December 31, 2012
 
 
Parent
Companies
 
Subsidiary
Issuer
 
Guarantor
Subsidiaries
 
Non-
Guarantor
Subsidiaries
 
Eliminations
 
Consolidated
 
 
(in millions)
Net income (loss)
 
$
1,077

 
$
357

 
$
405

 
$
1,021

 
$
(1,700
)
 
$
1,160

Other comprehensive income (loss):
 
 
 
 
 
 
 
 
 
 
 
 
Currency translation adjustments
 
—

 
—

 
—

 
60

 
—

 
60

Net change in unrecognized gain on derivative instruments, net of tax
 
—

 
—

 
58

 
1

 
—

 
59

Employee benefit plans adjustment, net of tax
 
—

 
—

 
(4
)
 
(167
)
 
—

 
(171
)
Other comprehensive income (loss)
 
—

 
—

 
54

 
(106
)
 
—

 
(52
)
Equity in other comprehensive (loss) income of subsidiaries
 
(54
)
 
54

 
—

 
—

 
—

 
—

Comprehensive income (loss)
 
1,023

 
411

 
459

 
915

 
(1,700
)
 
1,108

Comprehensive income attributable to noncontrolling interests
 
—

 
—

 
—

 
85

 
—

 
85

Comprehensive income (loss) attributable to Delphi
 
$
1,023

 
$
411

 
$
459

 
$
830

 
$
(1,700
)
 
$
1,023


Statement of Comprehensive Income Year Ended December 31, 2011
 
 
Parent
Companies
 
Subsidiary
Issuer
 
Guarantor
Subsidiaries
 
Non-
Guarantor
Subsidiaries
 
Eliminations
 
Consolidated
 
 
(in millions)
Net income (loss)
 
$
1,145

 
$
74

 
$
121

 
$
1,330

 
$
(1,447
)
 
$
1,223

Other comprehensive (loss) income:
 
 
 
 
 
 
 
 
 
 
 
 
Currency translation adjustments
 
—

 
—

 
—

 
(94
)
 
—

 
(94
)
Net change in unrecognized loss on derivative instruments, net of tax
 
—

 
—

 
(98
)
 
—

 
—

 
(98
)
Employee benefit plans adjustment, net of tax
 
—

 
—

 
(4
)
 
(73
)
 
—

 
(77
)
Other comprehensive loss
 
—

 
—

 
(102
)
 
(167
)
 
—

 
(269
)
Equity in other comprehensive (loss) income of subsidiaries
 
(274
)
 
(102
)
 
—

 
—

 
376

 
—

Comprehensive income (loss)
 
871

 
(28
)
 
19

 
1,163

 
(1,071
)
 
954

Comprehensive income attributable to noncontrolling interests
 
—

 
—

 
—

 
83

 
—

 
83

Comprehensive income (loss) attributable to Delphi
 
$
871

 
$
(28
)
 
$
19

 
$
1,080

 
$
(1,071
)
 
$
871

Schedule of Condensed Balance Sheet 
Balance Sheet as of December 31, 2013
 
 
Parent
Companies
 
Subsidiary
Issuer
 
Guarantor
Subsidiaries
 
Non-
Guarantor
Subsidiaries
 
Eliminations
 
Consolidated
 
 
(in millions)
ASSETS
 
 
 
 
 
 
 
 
 
 
 
 
Current assets:
 
 
 
 
 
 
 
 
 
 
 
 
Cash and cash equivalents
 
$
7

 
$
—

 
$
295

 
$
1,087

 
$
—

 
$
1,389

Restricted cash
 
—

 
—

 
—

 
4

 
—

 
4

Accounts receivable, net
 
—

 
—

 
673

 
1,989

 
—

 
2,662

Inventories
 
—

 
—

 
332

 
770

 
(9
)
 
1,093

Other current assets
 
1

 
10

 
147

 
453

 
(7
)
 
604

Total current assets
 
8

 
10

 
1,447

 
4,303

 
(16
)
 
5,752

Long-term assets:
 
 
 
 
 
 
 
 
 
 
 
 
Property, net
 
—

 
—

 
670

 
2,546

 
—

 
3,216

Investments in affiliates
 
—

 
—

 
—

 
234

 
—

 
234

Investments in subsidiaries
 
5,181

 
1,130

 
—

 
—

 
(6,311
)
 
—

Intangible assets, net
 
—

 
—

 
343

 
876

 
—

 
1,219

Other long-term assets
 
—

 
43

 
40

 
541

 
2

 
626

Total long-term assets
 
5,181

 
1,173

 
1,053

 
4,197

 
(6,309
)
 
5,295

Total assets
 
$
5,189

 
$
1,183

 
$
2,500

 
$
8,500

 
$
(6,325
)
 
$
11,047

LIABILITIES AND SHAREHOLDERS’ EQUITY
 
 
 
 
 
 
 
 
 
 
Current liabilities:
 
 
 
 
 
 
 
 
 
 
 
 
Short-term debt
 
$
—

 
$
25

 
$
23

 
$
13

 
$
—

 
$
61

Accounts payable
 
—

 
—

 
651

 
1,944

 
—

 
2,595

Accrued liabilities
 
—

 
23

 
196

 
1,026

 
(7
)
 
1,238

Total current liabilities
 
—

 
48

 
870

 
2,983

 
(7
)
 
3,894

Long-term liabilities:
 
 
 
 
 
 
 
 
 
 
 
 
Long-term debt
 
—

 
2,339

 
1

 
11

 
—

 
2,351

Intercompany accounts, net
 
2,278

 
(1,236
)
 
685

 
(1,727
)
 
—

 
—

Pension benefit obligations
 
—

 
—

 
61

 
898

 
—

 
959

Other long-term liabilities
 
—

 
—

 
178

 
231

 
—

 
409

Total long-term liabilities
 
2,278

 
1,103

 
925

 
(587
)
 
—

 
3,719

Total liabilities
 
2,278

 
1,151

 
1,795

 
2,396

 
(7
)
 
7,613

Total Delphi shareholders’ equity
 
2,911

 
32

 
705

 
5,581

 
(6,318
)
 
2,911

Noncontrolling interest
 
—

 
—

 
—

 
523

 
—

 
523

Total shareholders’ equity
 
2,911

 
32

 
705

 
6,104

 
(6,318
)
 
3,434

Total liabilities and shareholders’ equity
 
$
5,189

 
$
1,183

 
$
2,500

 
$
8,500

 
$
(6,325
)
 
$
11,047


Balance Sheet as of December 31, 2012
 
 
Parent
Companies
 
Subsidiary
Issuer
 
Guarantor
Subsidiaries
 
Non-
Guarantor
Subsidiaries
 
Eliminations
 
Consolidated
 
 
(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 Year Ended December 31, 2013
 
 
Parent
Companies
 
Subsidiary
Issuer
 
Guarantor
Subsidiaries
 
Non-
Guarantor
Subsidiaries
 
Eliminations
 
Consolidated
 
 
(in millions)
Net cash (used in) provided by operating activities
 
$
(153
)
 
$
—

 
$
253

 
$
1,650

 
$
—

 
$
1,750

Cash flows from investing activities:
 
 
 
 
 
 
 
 
 
 
 
 
Capital expenditures
 
—

 
—

 
(181
)
 
(501
)
 
—

 
(682
)
Proceeds from sale of property/investments
 
—

 
—

 
3

 
30

 
—

 
33

Cost of business and technology acquisitions, net of cash acquired
 
—

 
—

 
—

 
(10
)
 
—

 
(10
)
Decrease in restricted cash
 
—

 
—

 
—

 
4

 
—

 
4

Net cash used in investing activities
 
—

 
—

 
(178
)
 
(477
)
 
—

 
(655
)
Cash flows from financing activities:
 
 
 
 
 
 
 
 
 
 
 
 
Net repayments under other short-term debt agreements
 
—

 
—

 
—

 
(80
)
 
—

 
(80
)
Repayments under long-term debt agreements
 
—

 
(1,353
)
 
—

 
—

 
—

 
(1,353
)
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
 
—

 
—

 
—

 
(55
)
 
—

 
(55
)
Intercompany dividends and net increase (decrease) in intercompany obligations
 
826

 
5

 
115

 
(946
)
 
—

 
—

Repurchase of ordinary shares
 
(457
)
 
—

 
—

 
—

 
—

 
(457
)
Distribution of cash dividends
 
(211
)
 
—

 
—

 
—

 
—

 
(211
)
Taxes withheld and paid on employees' restricted share awards
 
—

 
—

 
(13
)
 
(1
)
 
—

 
(14
)
Net cash provided by (used in) financing activities
 
158

 
—

 
102

 
(1,082
)
 
—

 
(822
)
Effect of exchange rate fluctuations on cash and cash equivalents
 
—

 
—

 
—

 
11

 
—

 
11

Increase in cash and cash equivalents
 
5

 
—

 
177

 
102

 
—

 
284

Cash and cash equivalents at beginning of year
 
2

 
—

 
118

 
985

 
—

 
1,105

Cash and cash equivalents at end of year
 
$
7

 
$
—

 
$
295

 
$
1,087

 
$
—

 
$
1,389


Statement of Cash Flows for the Year Ended December 31, 2012
 
 
Parent
Companies
 
Subsidiary
Issuer
 
Guarantor
Subsidiaries
 
Non-
Guarantor
Subsidiaries
 
Eliminations
 
Consolidated
 
 
(in millions)
Net cash (used in) provided by operating activities
 
$
(22
)
 
$
—

 
$
384

 
$
1,116

 
$
—

 
$
1,478

Cash flows from investing activities:
 
 
 
 
 
 
 
 
 
 
 
 
Capital expenditures
 
—

 
—

 
(197
)
 
(508
)
 
—

 
(705
)
Proceeds from sale of property/investments
 
—

 
—

 
2

 
18

 
—

 
20

Cost of acquisitions, net of cash acquired
 
—

 
—

 
—

 
(980
)
 
—

 
(980
)
Decrease in restricted cash
 
—

 
—

 
—

 
1

 
—

 
1

Loans to related parties
 
—

 
—

 
—

 
14

 
—

 
14

Acquisition of minority held shares
 
—

 
—

 
—

 
(16
)
 
—

 
(16
)
Dividends from equity method investments in excess of earnings
 
—

 
—

 
—

 
37

 
—

 
37

Other, net
 
—

 
—

 
—

 
(2
)
 
—

 
(2
)
Net cash (used in) provided by investing activities
 
—

 
—

 
(195
)
 
(1,436
)
 
—

 
(1,631
)
Cash flows from financing activities:
 
 
 
 
 
 
 
 
 
 
 
 
Net repayments under other short-term debt agreements
 
—

 
—

 
—

 
(8
)
 
—

 
(8
)
Proceeds from issuance of senior secured term loans, net of issuance costs
 
—

 
358

 
—

 
—

 
—

 
358

Repayments of senior secured term loans
 
—

 
(5
)
 
—

 
—

 
—

 
(5
)
Dividend payments of consolidated affiliates to minority shareholders
 
—

 
—

 
—

 
(47
)
 
—

 
(47
)
Intercompany dividends and net increase (decrease) in intercompany obligations
 
374

 
(353
)
 
(257
)
 
236

 
—

 
—

Repurchase of ordinary shares
 
(403
)
 
—

 
—

 
—

 
—

 
(403
)
Net cash (used in) provided by financing activities
 
(29
)
 
—

 
(257
)
 
181

 
—

 
(105
)
Effect of exchange rate fluctuations on cash and cash equivalents
 
—

 
—

 
—

 
—

 
—

 
—

Decrease in cash and cash equivalents
 
(51
)
 
—

 
(68
)
 
(139
)
 
—

 
(258
)
Cash and cash equivalents at beginning of year
 
53

 
—

 
186

 
1,124

 
—

 
1,363

Cash and cash equivalents at end of year
 
$
2

 
$
—

 
$
118

 
$
985

 
$
—

 
$
1,105


Statement of Cash Flows for the Year Ended December 31, 2011
 
 
Parent
Companies
 
Subsidiary
Issuer
 
Guarantor
Subsidiaries
 
Non-
Guarantor
Subsidiaries
 
Eliminations
 
Consolidated
 
 
(in millions)
Net cash (used in) provided by operating activities
 
$
(255
)
 
$
17

 
$
269

 
$
1,346

 
$
—

 
$
1,377

Cash flows from investing activities:
 
 
 
 
 
 
 
 
 
 
 
 
Capital expenditures
 
—

 
—

 
(161
)
 
(469
)
 
—

 
(630
)
Maturity of time deposits
 
—

 
—

 
550

 
—

 
—

 
550

Proceeds from sale of property/investments
 
—

 
—

 
12

 
60

 
—

 
72

Cost of acquisitions, net of cash acquired
 
—

 
—

 
—

 
(17
)
 
—

 
(17
)
Decrease in restricted cash
 
—

 
—

 
25

 
13

 
—

 
38

Loans of related parties
 
—

 
—

 
—

 
(14
)
 
—

 
(14
)
Other, net
 
—

 
—

 
(4
)
 
(5
)
 
—

 
(9
)
Net cash provided by (used in) investing activities
 
—

 
—

 
422

 
(432
)
 
—

 
(10
)
Cash flows from financing activities:
 
 
 
 
 
 
 
 
 
 
 
 
Net borrowings (repayments) under other short-term debt agreements
 
—

 
4

 
(1
)
 
(128
)
 
—

 
(125
)
Proceeds from issuance of senior secured term loans, net of issuance costs
 
—

 
2,385

 
—

 
—

 
—

 
2,385

Repayments of senior secured term loans
 
—

 
(1,490
)
 
—

 
—

 
—

 
(1,490
)
Proceeds from issuance of senior notes, net of issuance costs
 
—

 
976

 
—

 
—

 
—

 
976

Repayment of senior unsecured five-year notes
 
—

 
—

 
—

 
(57
)
 
—

 
(57
)
Dividend payments of consolidated affiliates to minority shareholders
 
—

 
—

 
—

 
(43
)
 
—

 
(43
)
Intercompany dividends and net increase (decrease) in intercompany obligations
 
5,142

 
(1,892
)
 
(2,514
)
 
(736
)
 
—

 
—

Distribution to Delphi equity holders
 
(93
)
 
—

 
—

 
—

 
—

 
(93
)
Redemption of membership interests
 
(4,747
)
 
—

 
—

 
—

 
—

 
(4,747
)
Net cash provided by (used in) financing activities
 
302

 
(17
)
 
(2,515
)
 
(964
)
 
—

 
(3,194
)
Effect of exchange rate fluctuations on cash and cash equivalents
 
—

 
—

 
—

 
(29
)
 
—

 
(29
)
Increase (decrease) in cash and cash equivalents
 
47

 
—

 
(1,824
)
 
(79
)
 
—

 
(1,856
)
Cash and cash equivalents at beginning of year
 
6

 
—

 
2,010

 
1,203

 
—

 
3,219

Cash and cash equivalents at end of year
 
$
53

 
$
—

 
$
186

 
$
1,124

 
$
—

 
$
1,363

Segment Reporting (Tables)
Schedule of Segment Reporting Information, by Segment 
Included below are sales and operating data for Delphi’s segments for the years ended December 31, 2013, 2012 and 2011, as well as balance sheet data as of December 31, 2013 and 2012.
 
 
Electrical/
Electronic
Architecture
 
Powertrain
Systems
 
Electronics
and Safety
 
Thermal
Systems
 
Eliminations
and Other (1)
 
Total
 
 
(in millions)
For the Year Ended December 31, 2013:
 
 
 
 
 
 
 
 
 
 
Net sales
 
$
7,972

 
$
4,424

 
$
2,830

 
$
1,468

 
$
(231
)
 
$
16,463

EBITDA
 
$
1,194

 
$
619

 
$
340

 
$
71

 
$
—

 
$
2,224

Adjusted EBITDA
 
$
1,237

 
$
671

 
$
396

 
$
80

 
$
—

 
$
2,384

Depreciation and amortization
 
$
236

 
$
188

 
$
73

 
$
43

 
$
—

 
$
540

Operating income (2)
 
$
958

 
$
431

 
$
267

 
$
28

 
$
—

 
$
1,684

Equity income (loss)
 
$
15

 
$
4

 
$
—

 
$
18

 
$
(3
)
 
$
34

Net income attributable to noncontrolling interest
 
$
40

 
$
31

 
$
—

 
$
18

 
$
—

 
$
89

 
 
Electrical/
Electronic
Architecture
 
Powertrain
Systems
 
Electronics
and Safety
 
Thermal
Systems
 
Eliminations
and Other (1)
 
Total
 
 
(in millions)
For the Year Ended December 31, 2012:
 
 
 
 
 
 
 
 
 
 
Net sales
 
$
6,815

 
$
4,656

 
$
2,732

 
$
1,541

 
$
(225
)
 
$
15,519

EBITDA
 
$
887

 
$
698

 
$
274

 
$
103

 
$
—

 
$
1,962

Adjusted EBITDA
 
$
945

 
$
723

 
$
363

 
$
111

 
$
—

 
$
2,142

Depreciation and amortization
 
$
164

 
$
182

 
$
97

 
$
43

 
$
—

 
$
486

Operating income (3)
 
$
723

 
$
516

 
$
177

 
$
60

 
$
—

 
$
1,476

Equity income (loss)
 
$
13

 
$
1

 
$
3

 
$
11

 
$
(1
)
 
$
27

Net income attributable to noncontrolling interest
 
$
37

 
$
31

 
$
—

 
$
15

 
$
—

 
$
83

 
 
Electrical/
Electronic
Architecture
 
Powertrain
Systems
 
Electronics
and Safety
 
Thermal
Systems
 
Eliminations
and Other (1)
 
Total
 
 
(in millions)
For the Year Ended December 31, 2011:
 
 
 
 
 
 
 
 
 
 
Net sales
 
$
6,642

 
$
4,970

 
$
2,931

 
$
1,755

 
$
(257
)
 
$
16,041

EBITDA
 
$
868

 
$
710

 
$
369

 
$
172

 
$
—

 
$
2,119

Adjusted EBITDA
 
$
880

 
$
722

 
$
374

 
$
174

 
$
—

 
$
2,150

Depreciation and amortization
 
$
131

 
$
195

 
$
105

 
$
44

 
$
—

 
$
475

Operating income (4)
 
$
737

 
$
515

 
$
264

 
$
128

 
$
—

 
$
1,644

Equity income (loss)
 
$
20

 
$
3

 
$
1

 
$
6

 
$
(8
)
 
$
22

Net income attributable to noncontrolling interest
 
$
33

 
$
33

 
$
—

 
$
12

 
$
—

 
$
78

(1)
Eliminations and Other includes the elimination of inter-segment transactions.
(2)
Includes charges recorded in 2013 related to costs associated with employee termination benefits and other exit costs of $28 million for Electrical/Electronic Architecture, $52 million for Powertrain Systems, $56 million for Electronics and Safety and $9 million for Thermal Systems.
(3)
Includes charges recorded in 2012 related to costs associated with employee termination benefits and other exit costs of $49 million for Electrical/Electronic Architecture, $25 million for Powertrain Systems, $89 million for Electronics and Safety and $8 million for Thermal Systems.
(4)
Includes charges recorded in 2011 related to costs associated with employee termination benefits and other exit costs of $12 million for Electrical/Electronic Architecture, $12 million for Powertrain Systems, $5 million for Electronics and Safety and $2 million for Thermal Systems.
Reconciliation of Assets from Segment to Consolidated 
 
 
Electrical/
Electronic
Architecture
 
Powertrain
Systems
 
Electronics
and Safety
 
Thermal
Systems
 
Eliminations
and
Other(1)
 
Total
 
 
(in millions)
Balance as of:
 
 
December 31, 2013
 
 
 
 
 
 
 
 
 
 
 
 
Investment in affiliates
 
$
48

 
$
72

 
$
—

 
$
105

 
$
9

 
$
234

Goodwill
 
$
487

 
$
9

 
$
—

 
$
—

 
$
—

 
$
496

Capital expenditures
 
$
293

 
$
224

 
$
64

 
$
77

 
$
24

 
$
682

Total segment assets
 
$
5,312

 
$
4,128

 
$
2,018

 
$
985

 
$
(1,396
)
 
$
11,047

December 31, 2012
 
 
 
 
 
 
 
 
 
 
 
 
Investment in affiliates
 
$
49

 
$
77

 
$
—

 
$
88

 
$
17

 
$
231

Goodwill
 
$
465

 
$
8

 
$
—

 
$
—

 
$
—

 
$
473

Capital expenditures
 
$
238

 
$
304

 
$
66

 
$
63

 
$
34

 
$
705

Total segment assets
 
$
4,758

 
$
3,915

 
$
1,701

 
$
905

 
$
(1,103
)
 
$
10,176

(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 years ended December 31, 2013, 2012 and 2011 are as follows:
 
 
Electrical/
Electronic
Architecture
 
Powertrain
Systems
 
Electronics
and Safety
 
Thermal
Systems
 
Eliminations
and Other
 
Total
 
 
(in millions)
For the Year Ended December 31, 2013:
 
 
 
 
 
 
 
 
 
 
Adjusted EBITDA
 
$
1,237

 
$
671

 
$
396

 
$
80

 
$
—

 
$
2,384

Restructuring
 
(28
)
 
(52
)
 
(56
)
 
(9
)
 
—

 
(145
)
Other acquisition-related costs
 
(15
)
 
—

 
—

 
—

 
—

 
(15
)
EBITDA
 
$
1,194

 
$
619

 
$
340

 
$
71

 
$
—

 
$
2,224

Depreciation and amortization
 
(236
)
 
(188
)
 
(73
)
 
(43
)
 
—

 
(540
)
Operating income
 
$
958

 
$
431

 
$
267

 
$
28

 
$
—

 
1,684

Interest expense
 
 
 
 
 
 
 
 
 
 
 
(143
)
Other (expense), net
 
 
 
 
 
 
 
 
 
 
 
(18
)
Income before income taxes and equity income
 
 
 
 
 
 
 
 
 
 
 
1,523

Income tax expense
 
 
 
 
 
 
 
 
 
 
 
(256
)
Equity income, net of tax
 
 
 
 
 
 
 
 
 
 
 
34

Net income
 
 
 
 
 
 
 
 
 
 
 
$
1,301

Net income attributable to noncontrolling interest
 
 
 
 
 
 
 
 
 
 
 
89

Net income attributable to Delphi
 
 
 
 
 
 
 
 
 
 
 
$
1,212

 
 
Electrical/
Electronic
Architecture
 
Powertrain
Systems
 
Electronics
and Safety
 
Thermal
Systems
 
Eliminations
and Other
 
Total
 
 
(in millions)
For the Year Ended December 31, 2012:
 
 
 
 
 
 
 
 
 
 
Adjusted EBITDA
 
$
945

 
$
723

 
$
363

 
$
111

 
$
—

 
$
2,142

Restructuring
 
(49
)
 
(25
)
 
(89
)
 
(8
)
 
—

 
(171
)
Other acquisition-related costs
 
(9
)
 
—

 
—

 
—

 
—

 
(9
)
EBITDA
 
$
887

 
$
698

 
$
274

 
$
103

 
$
—

 
$
1,962

Depreciation and amortization
 
(164
)
 
(182
)
 
(97
)
 
(43
)
 
—

 
(486
)
Operating income
 
$
723

 
$
516

 
$
177

 
$
60

 
$
—

 
1,476

Interest expense
 
 
 
 
 
 
 
 
 
 
 
(136
)
Other income, net
 
 
 
 
 
 
 
 
 
 
 
5

Income before income taxes and equity income
 
 
 
 
 
 
 
 
 
 
 
1,345

Income tax expense
 
 
 
 
 
 
 
 
 
 
 
(212
)
Equity income, net of tax
 
 
 
 
 
 
 
 
 
 
 
27

Net income
 
 
 
 
 
 
 
 
 
 
 
$
1,160

Net income attributable to noncontrolling interest
 
 
 
 
 
 
 
 
 
 
 
83

Net income attributable to Delphi
 
 
 
 
 
 
 
 
 
 
 
$
1,077

 
 
Electrical/
Electronic
Architecture
 
Powertrain
Systems
 
Electronics
and Safety
 
Thermal
Systems
 
Eliminations
and Other
 
Total
 
 
(in millions)
For the Year Ended December 31, 2011:
 
 
 
 
 
 
 
 
 
 
Adjusted EBITDA
 
$
880

 
$
722

 
$
374

 
$
174

 
$
—

 
$
2,150

Restructuring
 
(12
)
 
(12
)
 
(5
)
 
(2
)
 
—

 
(31
)
EBITDA
 
868

 
710

 
369

 
172

 
—

 
2,119

Depreciation and amortization
 
(131
)
 
(195
)
 
(105
)
 
(44
)
 
—

 
(475
)
Operating income
 
$
737

 
$
515

 
$
264

 
$
128

 
$
—

 
1,644

Interest expense
 
 
 
 
 
 
 
 
 
 
 
(123
)
Other income, net
 
 
 
 
 
 
 
 
 
 
 
(15
)
Income before income taxes and equity income
 
 
 
 
 
 
 
 
 
 
 
1,506

Income tax expense
 
 
 
 
 
 
 
 
 
 
 
(305
)
Equity income, net of tax
 
 
 
 
 
 
 
 
 
 
 
22

Net income
 
 
 
 
 
 
 
 
 
 
 
$
1,223

Net income attributable to
noncontrolling interest
 
 
 
 
 
 
 
 
 
 
 
78

Net income attributable to Delphi
 
 
 
 
 
 
 
 
 
 
 
$
1,145

Schedule of Revenue from External Customers and Long-Lived Assets, by Geographical Areas 
Information concerning principal geographic areas is set forth below. Net sales data reflects the manufacturing location and is for the years ended December 31. Net property data is as of December 31.
 
 
Year ended
December 31, 2013
 
Year ended
December 31, 2012
 
Year ended
December 31, 2011
 
 
(in millions)
 
 
Net Sales
 
Net
Property(1)
 
Net Sales
 
Net
Property(1)
 
Net Sales
 
Net
Property(1)
United States
 
$
5,300

 
$
668

 
$
5,193

 
$
592

 
$
4,993

 
$
506

Other North America
 
213

 
145

 
151

 
139

 
118

 
129

Europe, Middle East & Africa(2)
 
6,444

 
1,592

 
6,364

 
1,455

 
7,264

 
1,107

China
 
2,703

 
526

 
2,288

 
389

 
2,026

 
314

Other Asia Pacific
 
838

 
148

 
539

 
135

 
438

 
108

South America
 
965

 
137

 
984

 
150

 
1,202

 
151

Total
 
$
16,463

 
$
3,216

 
$
15,519

 
$
2,860

 
$
16,041

 
$
2,315

(1)
Net property data represents property, plant and equipment, net of accumulated depreciation.
(2)
Includes Delphi’s country of domicile, Jersey, and the country of Delphi’s principal executive offices, the United Kingdom. The Company had no sales in Jersey in any period. The Company had net sales of $727 million, $726 million, and $866 million in the United Kingdom for the years ended December 31, 2013, 2012 and 2011, respectively. The Company had net property in the United Kingdom of $229 million, $191 million, and $138 million as of December 31, 2013, 2012 and 2011, respectively.
Quarterly Data (Tables)
Schedule of Quarterly Financial Information
QUARTERLY DATA (UNAUDITED)
The following is a condensed summary of the Company’s unaudited quarterly results of continuing operations for fiscal 2013 and 2012.
 
Three months ended
 
 
 
March 31,  
 
June 30,  
 
September 30, 
 
December 31,  
 
Total
 
(in millions, except per share amounts)
2013
 
 
 
 
 
 
 
 
 
Net sales
$
4,024

 
$
4,240

 
$
4,017

 
$
4,182

 
$
16,463

Cost of sales
3,339

 
3,464

 
3,338

 
3,426

 
$
13,567

Gross profit
$
685

 
$
776

 
$
679

 
$
756

 
$
2,896

Operating income
$
397

 
$
483

 
$
387

 
$
417

 
$
1,684

Net income (1)
$
298

 
$
389

 
$
293

 
$
321

 
$
1,301

Net income attributable to Delphi
$
276

 
$
367

 
$
271

 
$
298

 
$
1,212

Basic net income per share:
 
 
 
 
 
 
 
 
 
Basic net income per share attributable to Delphi (2)
$
0.88

 
$
1.18

 
$
0.88

 
$
0.97

 
$
3.90

Weighted average number of basic shares outstanding
314.68

 
311.93

 
309.68

 
307.08

 
310.82

Diluted net income per share:
 
 
 
 
 
 
 
 
 
Diluted net income per share attributable to Delphi (2)
$
0.88

 
$
1.17

 
$
0.87

 
$
0.97

 
$
3.89

Weighted average number of diluted shares outstanding
315.36

 
312.69

 
310.62

 
308.64

 
311.80

 
 
 
 
 
 
 
 
 
 
2012
 
 
 
 
 
 
 
 
 
Net sales
$
4,092

 
$
3,997

 
$
3,663

 
$
3,767

 
$
15,519

Cost of sales (3)
3,373

 
3,272

 
3,058

 
3,158

 
$
12,861

Gross profit
$
719

 
$
725

 
$
605

 
$
609

 
$
2,658

Operating income
$
464

 
$
468

 
$
367

 
$
177

 
$
1,476

Net income
$
363

 
$
350

 
$
292

 
$
155

 
$
1,160

Net income attributable to Delphi
$
342

 
$
330

 
$
269

 
$
136

 
$
1,077

Basic net income per share:
 
 
 
 
 
 
 
 
 
Basic net income per share attributable to Delphi (2)
$
1.04

 
$
1.01

 
$
0.84

 
$
0.43

 
$
3.34

Weighted average number of basic shares outstanding
328.24

 
325.87

 
320.93

 
316.80

 
322.94

Diluted net income per share:
 
 
 
 
 
 
 
 
 
Diluted net income per share attributable to Delphi (2)
$
1.04

 
$
1.01

 
$
0.84

 
$
0.43

 
$
3.33

Weighted average number of diluted shares outstanding
328.47

 
326.14

 
321.28

 
317.34

 
323.29

(1)
In the first quarter of 2013, Delphi recognized a loss on debt extinguishment of $39 million.
(2)
Due to the use of the weighted average shares outstanding for each quarter for computing earnings per share, the sum of the quarterly per share amounts may not equal the per share amount for the year.
(3)
In the fourth quarter of 2012, Delphi recorded restructuring charges totaling $154 million which includes employee-related and other costs. Additionally, Delphi recognized non-cash asset impairment charges of $15 million, recognized in cost of sales.
General (Details) (USD $)
3 Months Ended 8 Months Ended 9 Months Ended 11 Months Ended
Mar. 31, 2011
Aug. 19, 2009
Oct. 6, 2009
Nov. 22, 2011
Dec. 31, 2013
Organization, Consolidation and Presentation of Financial Statements [Line Items]
 
 
 
 
 
Formation of LLP
 
Aug. 19, 2009 
 
 
 
Initial Offering Period
 
 
 
November 22, 2011 
 
Number of Largest OEM's
 
 
 
 
25 
Number of Manufacturing Facilities
 
 
 
 
126 
Number of Major Technical Centers
 
 
 
 
15 
Number of Countries in which Entity Operates
 
 
 
 
32 
Number of Scientists, Engineers, and Technicians
 
 
 
 
19,000 
Acquisition Date
 
 
Oct. 06, 2009 
 
 
Membership Interests Redeemed or Called, Value
$ 4,400,000,000 
 
 
 
 
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 Policies (Details) (USD $)
3 Months Ended 11 Months Ended 12 Months Ended
Mar. 31, 2011
Nov. 22, 2011
Dec. 31, 2013
Dec. 31, 2012
Dec. 31, 2011
Significant Accounting Policies [Line Items]
 
 
 
 
 
Investment Income, Dividend
 
 
$ 30,000,000 
$ 63,000,000 
$ 1,000,000 
Return on Equity Method Investment, Dividends
 
 
 
25,000,000 
 
Dividends from equity method investments in excess of earnings
 
 
0 
37,000,000 
0 
Membership Interests Redeemed or Called During Period Value
4,400,000,000 
 
 
 
 
Initial Offering Period
 
November 22, 2011 
 
 
 
Ordinary Shares Issued Value of New Issues
 
24,078,827 
 
 
 
IPO Purchase Price
 
530,000,000 
 
 
 
Ordinary Shares After Exchange
 
328,244,510 
 
 
 
Ordinary Shares, Par or Stated Value Per Share
 
$ 0.01 
$ 0.01 
$ 0.01 
 
Research and Development Expense
 
 
1,300,000,000 
1,200,000,000 
1,200,000,000 
Other than Temporary Impairment Losses, Investments, Available-for-sale Securities
 
 
0 
0 
6,000,000 
Allowance for Doubtful Accounts Receivable, Current
 
 
63,000,000 
65,000,000 
 
Provision for Doubtful Accounts
 
 
7,000,000 
22,000,000 
25,000,000 
Property Plant & Equipment, net
 
 
3,216,000,000 1
2,860,000,000 1
2,315,000,000 1
Foreign Currency Transaction Gain (Loss), Net of Tax
 
 
16,000,000 
24,000,000 
(3,000,000)
Asset Retirement Obligation
 
 
3,000,000 
3,000,000 
 
Promotora de Partes Electricas Automotrices [Member]
 
 
 
 
 
Significant Accounting Policies [Line Items]
 
 
 
 
 
Investment Income, Dividend
 
 
 
62,000,000 
 
Special Tools [Member]
 
 
 
 
 
Significant Accounting Policies [Line Items]
 
 
 
 
 
Property Plant & Equipment, net
 
 
442,000,000 
362,000,000 
 
Delphi-Owned Special Tools [Member]
 
 
 
 
 
Significant Accounting Policies [Line Items]
 
 
 
 
 
Property Plant & Equipment, net
 
 
370,000,000 
308,000,000 
 
Customer-Owned Special Tools [Member]
 
 
 
 
 
Significant Accounting Policies [Line Items]
 
 
 
 
 
Property Plant & Equipment, net
 
 
72,000,000 
54,000,000 
 
GM & VW [Member]
 
 
 
 
 
Significant Accounting Policies [Line Items]
 
 
 
 
 
Total Net Sales to GM & VW
 
 
27.00% 
29.00% 
28.00% 
GM [Member]
 
 
 
 
 
Significant Accounting Policies [Line Items]
 
 
 
 
 
Total Net Sales to GM & VW
 
 
17.00% 
18.00% 
19.00% 
Accounts and Other Receivables due from GM & VW
 
 
377,000,000 
382,000,000 
 
VW [Member]
 
 
 
 
 
Significant Accounting Policies [Line Items]
 
 
 
 
 
Total Net Sales to GM & VW
 
 
10.00% 
11.00% 
9.00% 
Accounts and Other Receivables due from GM & VW
 
 
$ 199,000,000 
$ 109,000,000 
 
Inventories (Details) (USD $)
In Millions, unless otherwise specified
Dec. 31, 2013
Dec. 31, 2012
Inventory Disclosure [Abstract]
 
 
Productive material
$ 584 
$ 586 
Work-in-process
142 
128 
Finished Goods
367 
352 
Total
$ 1,093 
$ 1,066 
Assets Current Assets (Details) (USD $)
In Millions, unless otherwise specified
Dec. 31, 2013
Dec. 31, 2012
Deferred Costs, Capitalized, Prepaid, and Other Assets Disclosure [Abstract]
 
 
Value added tax receivable
$ 177 
$ 194 
Deferred income taxes (Note 14)
133 
148 
Prepaid insurance and other expenses
59 
86 
Reimbursable engineering costs
76 
52 
Notes receivable
45 
22 
Debt issuance costs (Note 11)
10 
17 
Income and other taxes receivable
57 
47 
Deposits to vendors
9 
15 
Derivative financial instruments (Note 17)
15 
21 
Other
23 
21 
Total
$ 604 
$ 623 
Assets Non Current assets (Details) (USD $)
In Millions, unless otherwise specified
Dec. 31, 2013
Dec. 31, 2012
Deferred Costs, Capitalized, Prepaid, and Other Assets Disclosure [Abstract]
 
 
Deferred income taxes (Note 14)
$ 283 
$ 281 
Debt issuance costs (Note 11)
43 
55 
Income and other taxes receivable
123 
88 
Reimbursable engineering costs
79 
50 
Value added tax receivable
29 
33 
Derivative financial instruments (Note 17)
5 
6 
Other
64 
69 
Total
$ 626 
$ 582 
Investments in Affiliates (Details) (USD $)
In Millions, unless otherwise specified
12 Months Ended
Dec. 31, 2013
affiliates
Dec. 31, 2012
Dec. 31, 2011
Schedule of Equity Method Investments [Line Items]
 
 
 
Number of non-consolidated affiliates
7 
 
 
Equity Method Investments
$ 234 
$ 231 
 
Investment Income, Dividend
30 
63 
1 
Equity Method Investment, Impairment
0 
0 
7 
Korea Delphi Automotive Systems Corporation [Member]
 
 
 
Schedule of Equity Method Investments [Line Items]
 
 
 
Noncontrolling Interest, Ownership Percentage
50.00% 
 
 
Delphi-TVS Diesel Systems Ltd [Member]
 
 
 
Schedule of Equity Method Investments [Line Items]
 
 
 
Noncontrolling Interest, Ownership Percentage
50.00% 
 
 
Promotora de Partes Electricas Automotrices [Member]
 
 
 
Schedule of Equity Method Investments [Line Items]
 
 
 
Noncontrolling Interest, Ownership Percentage
40.00% 
 
 
Investment Income, Dividend
 
$ 62 
 
Investments in Affiliates Significant Affiliates Financial Statements (Details) (USD $)
In Millions, unless otherwise specified
12 Months Ended
Dec. 31, 2013
Dec. 31, 2012
Dec. 31, 2011
Equity Method Investments and Joint Ventures [Abstract]
 
 
 
Current assets
$ 608 
$ 688 
 
Non-current assets
474 
449 
 
Total assets
1,082 
1,137 
 
Current liabilities
362 
411 
 
Non-current liabilities
257 
235 
 
Shareholders' equity
463 
491 
 
Total liabilities and shareholders' equity
1,082 
1,137 
 
Net sales
1,773 
1,737 
1,750 
Gross profit
237 
184 
159 
Net income (loss)
$ 63 
$ 43 
$ 25 
Investments in Affiliates Transactions with Affiliates (Details) (USD $)
In Millions, unless otherwise specified
12 Months Ended
Dec. 31, 2013
Dec. 31, 2012
Dec. 31, 2011
Equity Method Investments and Joint Ventures [Abstract]
 
 
 
Sales to affiliates
$ 33 
$ 36 
$ 66 
Purchases from affiliates
$ 113 
$ 112 
$ 129 
Property, Net Property, Net Table (Details) (USD $)
In Millions, unless otherwise specified
3 Months Ended 12 Months Ended
Dec. 31, 2012
Dec. 31, 2013
Dec. 31, 2012
Dec. 31, 2011
Property, Plant and Equipment [Line Items]
 
 
 
 
Property, Gross
$ 4,043 
$ 4,806 
$ 4,043 
 
Accumulated Depreciation
(1,183)
(1,590)
(1,183)
 
Property, Net
2,860 1
3,216 1
2,860 1
2,315 1
Impairment of Long-Lived Assets Held-for-use
15 
0 
15 
0 
Land [Member]
 
 
 
 
Property, Plant and Equipment [Line Items]
 
 
 
 
Property, Gross
169 
172 
169 
 
Land and leasehold improvements [Member]
 
 
 
 
Property, Plant and Equipment [Line Items]
 
 
 
 
Property, Gross
93 
100 
93 
 
Land and leasehold improvements [Member] |
Minimum [Member]
 
 
 
 
Property, Plant and Equipment [Line Items]
 
 
 
 
Property, Estimated Useful Lives
 
3 years 
 
 
Land and leasehold improvements [Member] |
Maximum [Member]
 
 
 
 
Property, Plant and Equipment [Line Items]
 
 
 
 
Property, Estimated Useful Lives
 
20 years 
 
 
Buildings [Member]
 
 
 
 
Property, Plant and Equipment [Line Items]
 
 
 
 
Property, Gross
626 
665 
626 
 
Buildings [Member] |
Maximum [Member]
 
 
 
 
Property, Plant and Equipment [Line Items]
 
 
 
 
Property, Estimated Useful Lives
 
40 years 
 
 
Machinery, equipment, and tooling [Member]
 
 
 
 
Property, Plant and Equipment [Line Items]
 
 
 
 
Property, Gross
2,712 
3,311 
2,712 
 
Machinery, equipment, and tooling [Member] |
Minimum [Member]
 
 
 
 
Property, Plant and Equipment [Line Items]
 
 
 
 
Property, Estimated Useful Lives
 
3 years 
 
 
Machinery, equipment, and tooling [Member] |
Maximum [Member]
 
 
 
 
Property, Plant and Equipment [Line Items]
 
 
 
 
Property, Estimated Useful Lives
 
20 years 
 
 
Furniture and office equipment [Member]
 
 
 
 
Property, Plant and Equipment [Line Items]
 
 
 
 
Property, Gross
178 
214 
178 
 
Furniture and office equipment [Member] |
Minimum [Member]
 
 
 
 
Property, Plant and Equipment [Line Items]
 
 
 
 
Property, Estimated Useful Lives
 
3 years 
 
 
Furniture and office equipment [Member] |
Maximum [Member]
 
 
 
 
Property, Plant and Equipment [Line Items]
 
 
 
 
Property, Estimated Useful Lives
 
10 years 
 
 
Construction in progress [Member]
 
 
 
 
Property, Plant and Equipment [Line Items]
 
 
 
 
Property, Gross
$ 265 
$ 344 
$ 265 
 
Property, Net Details (Details) (USD $)
In Millions, unless otherwise specified
3 Months Ended 12 Months Ended
Dec. 31, 2012
Dec. 31, 2013
Dec. 31, 2012
Dec. 31, 2011
Property, Plant and Equipment [Abstract]
 
 
 
 
Impairment of Long-Lived Assets Held-for-use
$ 15 
$ 0 
$ 15 
$ 0 
Intangible Assets and Goodwill Intangible Assets and Goodwill by Major Class (Details) (USD $)
In Millions, unless otherwise specified
Dec. 31, 2013
Dec. 31, 2012
Dec. 31, 2011
Acquired Finite and Infinite-Lived Intangible Assets and Goodwill [Line Items]
 
 
 
Finite-Lived Intangible Assets, Gross Carrying Amount
$ 1,070 
$ 1,032 
 
Finite-Lived Intangible Assets, Accumulated Amortization
347 
243 
162 
Finite-Lived Intangible Assets, Net Carrying Amount
723 
789 
 
Goodwill
496 
473 
8 
Intangible Assets, Gross (Including Goodwill)
1,566 
1,519 
758 
Intangible Assets, Accumulated Amortization
347 
243 
 
Intangible assets, net
1,219 
1,276 
 
In-process research & development [Member]
 
 
 
Acquired Finite and Infinite-Lived Intangible Assets and Goodwill [Line Items]
 
 
 
Indefinite-Lived Intangible Assets (Excluding Goodwill)
0 
14 
 
Patents and developed technology [Member]
 
 
 
Acquired Finite and Infinite-Lived Intangible Assets and Goodwill [Line Items]
 
 
 
Finite-Lived Intangible Assets, Gross Carrying Amount
671 
636 
 
Finite-Lived Intangible Assets, Accumulated Amortization
201 
142 
 
Finite-Lived Intangible Assets, Net Carrying Amount
470 
494 
 
Customer relationships [Member]
 
 
 
Acquired Finite and Infinite-Lived Intangible Assets and Goodwill [Line Items]
 
 
 
Finite-Lived Intangible Assets, Gross Carrying Amount
297 
293 
 
Finite-Lived Intangible Assets, Accumulated Amortization
125 
85 
 
Finite-Lived Intangible Assets, Net Carrying Amount
172 
208 
 
Trade names [Member]
 
 
 
Acquired Finite and Infinite-Lived Intangible Assets and Goodwill [Line Items]
 
 
 
Finite-Lived Intangible Assets, Gross Carrying Amount
102 
103 
 
Finite-Lived Intangible Assets, Accumulated Amortization
21 
16 
 
Finite-Lived Intangible Assets, Net Carrying Amount
$ 81 
$ 87 
 
Intangible Assets and Goodwill Amortization Expense (Details) (USD $)
In Millions, unless otherwise specified
12 Months Ended
Dec. 31, 2013
Finite-Lived Intangible Assets [Line Items]
 
Estimated Amortization Expense, Next Twelve Months
$ 97 
Estimated Amortization Expense, Year Two
88 
Estimated Amortization Expense, Year Three
81 
Estimated Amortization Expense, Year Four
78 
Estimated Amortization Expense, Year Five
$ 70 
Patents and developed technology [Member] |
Minimum [Member]
 
Finite-Lived Intangible Assets [Line Items]
 
Finite-Lived Intangible Asset, Useful Life
6 years 
Patents and developed technology [Member] |
Maximum [Member]
 
Finite-Lived Intangible Assets [Line Items]
 
Finite-Lived Intangible Asset, Useful Life
15 years 
Customer relationships [Member] |
Minimum [Member]
 
Finite-Lived Intangible Assets [Line Items]
 
Finite-Lived Intangible Asset, Useful Life
6 years 
Customer relationships [Member] |
Maximum [Member]
 
Finite-Lived Intangible Assets [Line Items]
 
Finite-Lived Intangible Asset, Useful Life
10 years 
Trade names [Member] |
Minimum [Member]
 
Finite-Lived Intangible Assets [Line Items]
 
Finite-Lived Intangible Asset, Useful Life
6 years 
Trade names [Member] |
Maximum [Member]
 
Finite-Lived Intangible Assets [Line Items]
 
Finite-Lived Intangible Asset, Useful Life
20 years 
Intangible Assets and Goodwill Gross Carrying Amount of Intangibles and Goodwill (Details) (USD $)
In Millions, unless otherwise specified
12 Months Ended
Dec. 31, 2013
Dec. 31, 2012
Gross Carrying Amount [Roll Forward]
 
 
Balance at January 1
$ 1,519 
$ 758 
Acquisitions
12 
733 
Foreign currency translation and other
35 
28 
Balance at December 31
$ 1,566 
$ 1,519 
Intangible Assets and Goodwill Accumulated Amortization Rollforward (Details) (USD $)
In Millions, unless otherwise specified
12 Months Ended
Dec. 31, 2013
Dec. 31, 2012
Dec. 31, 2011
Accumulated Amortization [Roll Forward]
 
 
 
Balance at January 1
$ 243 
$ 162 
 
Amortization
104 
84 
79 
Foreign currency translation and other
0 
(3)
 
Balance at December 31
$ 347 
$ 243 
$ 162 
Intangible Assets and Goodwill Goodwill Rollforward (Details) (USD $)
In Millions, unless otherwise specified
12 Months Ended
Dec. 31, 2013
Dec. 31, 2012
Goodwill [Line Items]
 
 
Balance at January 1
$ 473 
$ 8 
Acquisitions
 
454 
Foreign currency translation and other
23 
11 
Balance at December 31
496 
473 
Electrical / Electronic Architecture [Member]
 
 
Goodwill [Line Items]
 
 
Balance at January 1
465 
0 
Acquisitions
 
454 
Foreign currency translation and other
22 
11 
Balance at December 31
487 
465 
Powertrain Systems [Member]
 
 
Goodwill [Line Items]
 
 
Balance at January 1
8 
8 
Acquisitions
 
0 
Foreign currency translation and other
1 
0 
Balance at December 31
$ 9 
$ 8 
Liabilities Other Liabilities, Current (Details) (USD $)
In Millions, unless otherwise specified
Dec. 31, 2013
Dec. 31, 2012
Other Liabilities Disclosure [Abstract]
 
 
Payroll-related obligations
$ 269 
$ 259 
Employee benefits, including current pension obligations
130 
123 
Executive long-term incentive plan (Note 21)
0 
20 
Income and other taxes payable
280 
261 
Warranty obligations (Note 9)
75 
92 
Restructuring (Note 10)
94 
118 
Customer deposits
38 
35 
Deferred income taxes (Note 14)
1 
12 
Derivative financial instruments (Note 17)
16 
12 
Accrued interest
24 
9 
Other
311 
300 
Total
$ 1,238 
$ 1,241 
Liabilities Other Liabilities, Non Current (Details) (USD $)
In Millions, unless otherwise specified
Dec. 31, 2013
Dec. 31, 2012
Other Liabilities Disclosure [Abstract]
 
 
Environmental (Note 13)
$ 18 
$ 18 
Extended disability benefits
9 
12 
Warranty obligations (Note 9)
94 
74 
Restructuring (Note 10)
45 
45 
Payroll-related obligations
12 
11 
Accrued income taxes
34 
38 
Deferred income taxes (Note 14)
151 
185 
Derivative financial instruments (Note 17)
6 
1 
Other
40 
50 
Total
$ 409 
$ 434 
Warranty Obligations (Details) (USD $)
In Millions, unless otherwise specified
12 Months Ended
Dec. 31, 2013
Dec. 31, 2012
Movement in Standard and Extended Product Warranty, Increase (Decrease) [Roll Forward]
 
 
Accrual balance at beginning of period
$ 166 
$ 315 
Provision for estimated warranties incurred during the period
68 
56 
Provision for changes in estimate for pre-existing warranties
(4)
(42)
Settlements made during the period (in cash or in kind)
(68)
(171)
Foreign currency translation and other
7 
8 
Accrual balance at end of period
$ 169 
$ 166 
Warranty Obligations Warranty Settlement Disclosures (Details)
In Millions, except Per Share data, unless otherwise specified
1 Months Ended 3 Months Ended 12 Months Ended 1 Months Ended 12 Months Ended
Sep. 30, 2012
USD ($)
Apr. 30, 2012
USD ($)
Apr. 30, 2012
EUR (€)
Apr. 30, 2011
USD ($)
Apr. 30, 2011
EUR (€)
Mar. 31, 2011
USD ($)
Dec. 31, 2012
USD ($)
Dec. 31, 2011
USD ($)
Dec. 31, 2010
USD ($)
Sep. 30, 2012
Cost of Sales [Member]
USD ($)
Dec. 31, 2010
Cost of Sales [Member]
USD ($)
Warranty Obligation [Line Items]
 
 
 
 
 
 
 
 
 
 
 
Warranty Expense Recognized
 
 
 
 
 
$ (76)
 
 
 
$ 25 
$ (75)
Product Warranty Expense, Effect on Net Income
(25)
 
 
 
 
 
 
76 
75 
 
 
Product Warranty Expense, Effect on Earnings Per Share, Basic and Diluted
 
 
 
 
 
 
$ 0.08 
$ (0.18)
$ (0.11)
 
 
Payments for Product Warranty Settlements
 
$ 80 
€ 60 
$ 133 
€ 90 
 
 
 
 
 
 
Restructuring Restructuring Costs by Division (Details) (USD $)
In Millions, unless otherwise specified
3 Months Ended 12 Months Ended
Dec. 31, 2012
Dec. 31, 2013
Dec. 31, 2012
Dec. 31, 2011
Restructuring Cost and Reserve [Line Items]
 
 
 
 
Restructuring
$ 154 
$ 145 
$ 171 
$ 31 
Electrical / Electronic Architecture [Member]
 
 
 
 
Restructuring Cost and Reserve [Line Items]
 
 
 
 
Restructuring
 
28 
49 
12 
Powertrain Systems [Member]
 
 
 
 
Restructuring Cost and Reserve [Line Items]
 
 
 
 
Restructuring
 
52 
25 
12 
Electronics And Safety [Member]
 
 
 
 
Restructuring Cost and Reserve [Line Items]
 
 
 
 
Restructuring
 
56 
89 
5 
Thermal Systems [Member]
 
 
 
 
Restructuring Cost and Reserve [Line Items]
 
 
 
 
Restructuring
 
$ 9 
$ 8 
$ 2 
Restructuring Restructuring Liability (Details) (USD $)
In Millions, unless otherwise specified
3 Months Ended 12 Months Ended
Dec. 31, 2012
Dec. 31, 2013
Dec. 31, 2012
Dec. 31, 2011
Restructuring Reserve [Roll Forward]
 
 
 
 
Accrual Balance Beginning Balance
 
$ 163 
$ 96 
 
Restructuring Charges
154 
145 
171 
31 
Payments made during the period
 
(170)
(109)
 
Foreign currency and other
 
1 
5 
 
Accrual Balance Ending Balance
163 
139 
163 
96 
Employee Termination Benefits Liability
 
 
 
 
Restructuring Reserve [Roll Forward]
 
 
 
 
Accrual Balance Beginning Balance
 
157 
86 
 
Restructuring Charges
 
143 
166 
 
Payments made during the period
 
(166)
(102)
 
Foreign currency and other
 
1 
7 
 
Accrual Balance Ending Balance
157 
135 
157 
 
Other Exit Costs Liability
 
 
 
 
Restructuring Reserve [Roll Forward]
 
 
 
 
Accrual Balance Beginning Balance
 
6 
10 
 
Restructuring Charges
 
2 
5 
 
Payments made during the period
 
(4)
(7)
 
Foreign currency and other
 
0 
(2)
 
Accrual Balance Ending Balance
$ 6 
$ 4 
$ 6 
 
Restructuring Narrative (Details) (USD $)
In Millions, unless otherwise specified
3 Months Ended 12 Months Ended 3 Months Ended 12 Months Ended
Dec. 31, 2012
Dec. 31, 2013
Dec. 31, 2012
Dec. 31, 2011
Mar. 31, 2013
2012-2013 Restructuring Program [Member]
Dec. 31, 2012
2012-2013 Restructuring Program [Member]
Dec. 31, 2013
2012-2013 Restructuring Program [Member]
Dec. 31, 2012
2012-2013 Restructuring Program [Member]
Dec. 31, 2011
Prior Divestitures [Member]
Dec. 31, 2013
Electrical / Electronic Architecture [Member]
Dec. 31, 2012
Electrical / Electronic Architecture [Member]
Dec. 31, 2011
Electrical / Electronic Architecture [Member]
Dec. 31, 2013
Powertrain Systems [Member]
Dec. 31, 2012
Powertrain Systems [Member]
Dec. 31, 2011
Powertrain Systems [Member]
Dec. 31, 2013
Electronics And Safety [Member]
Dec. 31, 2012
Electronics And Safety [Member]
Dec. 31, 2011
Electronics And Safety [Member]
Dec. 31, 2011
North and South America [Member]
Electrical / Electronic Architecture [Member]
Dec. 31, 2011
Europe [Member]
Powertrain Systems [Member]
Workforce Reduction and Process Rationalization [Member]
Restructuring Cost and Reserve [Line Items]
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Restructuring and Related Cost, Expected Cost
 
 
 
 
 
$ 300 
$ 375 
 
 
 
 
 
 
 
 
 
 
 
 
 
Restructuring and Related Cost, Additional Cost Approved
 
 
 
 
75 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Restructuring
154 
145 
171 
31 
 
170 
 
 
5 
28 
49 
12 
52 
25 
12 
56 
89 
5 
10 
10 
Impairment of Long-Lived Assets Held-for-use
15 
0 
15 
0 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Payments made during the period
 
$ 170 
$ 109 
 
 
 
$ 150 
$ 20 
 
 
 
 
 
 
 
 
 
 
 
 
Debt Debt Outstanding (Details) (USD $)
In Millions, unless otherwise specified
12 Months Ended 12 Months Ended 12 Months Ended
Dec. 31, 2013
Dec. 31, 2012
Dec. 31, 2013
Notes Payable, Other Payables [Member]
Senior Notes, 5.875% Due 2019 [Member]
Dec. 31, 2012
Notes Payable, Other Payables [Member]
Senior Notes, 5.875% Due 2019 [Member]
May 17, 2011
Notes Payable, Other Payables [Member]
Senior Notes, 5.875% Due 2019 [Member]
Dec. 31, 2013
Notes Payable, Other Payables [Member]
Senior Notes, 6.125% Due 2021 [Member]
Dec. 31, 2012
Notes Payable, Other Payables [Member]
Senior Notes, 6.125% Due 2021 [Member]
May 17, 2011
Notes Payable, Other Payables [Member]
Senior Notes, 6.125% Due 2021 [Member]
Dec. 31, 2013
Notes Payable, Other Payables [Member]
Senior Notes, 5.000% Due 2023 [Member]
Feb. 14, 2013
Notes Payable, Other Payables [Member]
Senior Notes, 5.000% Due 2023 [Member]
Dec. 31, 2012
Notes Payable, Other Payables [Member]
Senior Notes, 5.000% Due 2023 [Member]
Dec. 31, 2013
Loans Payable [Member]
Tranche A&B Combined [Member]
Dec. 31, 2012
Loans Payable [Member]
Tranche A&B Combined [Member]
Dec. 31, 2012
Loans Payable [Member]
Tranche B, Due 2017 [Member]
Dec. 31, 2013
Accounts Receivable Factoring [Member]
Dec. 31, 2012
Accounts Receivable Factoring [Member]
Dec. 31, 2013
Loans Payable [Member]
JPMorgan Chase Bank, N.A. [Member]
Tranche A, Due 2018 [Member]
Dec. 31, 2012
Loans Payable [Member]
JPMorgan Chase Bank, N.A. [Member]
Tranche A, Due 2018 [Member]
Dec. 31, 2013
Loans Payable [Member]
JPMorgan Chase Bank, N.A. [Member]
Tranche B, Due 2017 [Member]
Debt Instrument [Line Items]
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Unamortized Discount
 
 
 
 
 
 
 
 
 
 
 
$ 0 
$ 4 
 
 
 
 
 
 
Accounts receivable factoring
 
 
 
 
 
 
 
 
 
 
 
 
 
 
1 
19 
 
 
 
Senior notes
 
 
500 
500 
 
500 
500 
 
800 
 
0 
 
 
 
 
 
 
 
 
Term Loan
 
 
 
 
 
 
 
 
 
 
 
 
 
772 
 
 
564 
567 
0 
Capital leases and other
47 
106 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Total debt
2,412 
2,464 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Less: current portion
(61)
(140)
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Long-term debt
$ 2,351 
$ 2,324 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Debt Instrument, Interest Rate, Stated Percentage
 
 
5.875% 
5.875% 
5.875% 
6.125% 
6.125% 
6.125% 
 
5.00% 
 
 
 
 
 
 
 
 
 
Debt Instrument, Maturity Date
 
 
May 15, 2019 
Dec. 31, 2019 
 
May 15, 2021 
Dec. 31, 2021 
 
Feb. 15, 2023 
 
 
 
 
 
 
 
 
 
 
Debt Maturities of Debt (Details) (Debt and Capital Lease Obligations [Member], USD $)
In Millions, unless otherwise specified
Dec. 31, 2013
Debt and Capital Lease Obligations [Member]
 
Debt Instrument [Line Items]
 
2014
$ 61 
2015
47 
2016
55 
2017
44 
2018
403 
Thereafter
1,802 
Total
$ 2,412 
Debt Credit Agreement (Details) (USD $)
0 Months Ended 12 Months Ended 12 Months Ended 0 Months Ended 12 Months Ended 12 Months Ended 12 Months Ended
Feb. 14, 2013
May 17, 2011
Oct. 11, 2012
Tranche A, Due 2016 [Member]
Motorized Vehicle Division [Member]
Dec. 31, 2012
Tranche A, Due 2016 [Member]
Loans Payable [Member]
JPMorgan Chase Bank, N.A. [Member]
Administrative Agent’s Alternate Base Rate [Member]
Dec. 31, 2012
Tranche A, Due 2016 [Member]
Loans Payable [Member]
JPMorgan Chase Bank, N.A. [Member]
LIBOR [Member]
Dec. 31, 2012
Tranche B, Due 2017 [Member]
Loans Payable [Member]
Dec. 31, 2012
Tranche B, Due 2017 [Member]
Loans Payable [Member]
JPMorgan Chase Bank, N.A. [Member]
Administrative Agent’s Alternate Base Rate [Member]
Dec. 31, 2012
Tranche B, Due 2017 [Member]
Loans Payable [Member]
JPMorgan Chase Bank, N.A. [Member]
LIBOR [Member]
Dec. 31, 2013
Tranche B, Due 2017 [Member]
Loans Payable [Member]
JPMorgan Chase Bank, N.A. [Member]
LIBOR [Member]
Minimum [Member]
Dec. 31, 2013
Tranche B, Due 2017 [Member]
Loans Payable [Member]
JPMorgan Chase Bank, N.A. [Member]
May 17, 2011
Revolver , Due 2016 [Member]
JPMorgan Chase Bank, N.A. [Member]
Dec. 31, 2012
Revolver , Due 2016 [Member]
JPMorgan Chase Bank, N.A. [Member]
Dec. 31, 2012
Revolver , Due 2016 [Member]
Loans Payable [Member]
JPMorgan Chase Bank, N.A. [Member]
Administrative Agent’s Alternate Base Rate [Member]
Dec. 31, 2012
Revolver , Due 2016 [Member]
Loans Payable [Member]
JPMorgan Chase Bank, N.A. [Member]
LIBOR [Member]
Dec. 31, 2013
Amended and Restated Credit Agreement [Member]
Dec. 31, 2013
Tranche A, Due 2018 [Member]
Revolving Credit Facility [Member]
Minimum [Member]
Dec. 31, 2013
Tranche A, Due 2018 [Member]
Revolving Credit Facility [Member]
Maximum [Member]
Dec. 31, 2013
Tranche A, Due 2018 [Member]
Loans Payable [Member]
JPMorgan Chase Bank, N.A. [Member]
Dec. 31, 2013
Tranche A, Due 2018 [Member]
Loans Payable [Member]
JPMorgan Chase Bank, N.A. [Member]
Administrative Agent’s Alternate Base Rate [Member]
Dec. 31, 2013
Tranche A, Due 2018 [Member]
Loans Payable [Member]
JPMorgan Chase Bank, N.A. [Member]
LIBOR [Member]
Dec. 31, 2013
Tranche A, Due 2018 [Member]
Loans Payable [Member]
JPMorgan Chase Bank, N.A. [Member]
Dec. 31, 2012
Tranche A, Due 2018 [Member]
Loans Payable [Member]
JPMorgan Chase Bank, N.A. [Member]
Dec. 31, 2013
Revolver, Due 2018 [Member]
Revolving Credit Facility [Member]
JPMorgan Chase Bank, N.A. [Member]
Dec. 31, 2013
Revolver, Due 2018 [Member]
Revolving Credit Facility [Member]
JPMorgan Chase Bank, N.A. [Member]
LIBOR [Member]
Dec. 31, 2013
Revolver, Due 2018 [Member]
Loans Payable [Member]
JPMorgan Chase Bank, N.A. [Member]
Administrative Agent’s Alternate Base Rate [Member]
Dec. 31, 2013
Revolver, Due 2018 [Member]
Loans Payable [Member]
JPMorgan Chase Bank, N.A. [Member]
LIBOR [Member]
Dec. 31, 2013
Credit Agreement [Member]
Dec. 31, 2013
Credit Agreement [Member]
Secured Debt [Member]
JPMorgan Chase Bank, N.A. [Member]
Mar. 31, 2011
Credit Agreement [Member]
Secured Debt [Member]
JPMorgan Chase Bank, N.A. [Member]
Line of Credit Facility [Line Items]
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Credit Agreement on Senior Secured Facilities
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
$ 575,000,000 
 
 
 
 
$ 1,500,000,000 
 
 
 
 
 
$ 3,000,000,000 
Proceeds from Issuance of Long-term Debt
 
1,000,000,000 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Line of Credit Facility, Increase, Additional Borrowings
 
 
363,000,000 
 
 
 
 
 
 
 
2,400,000,000 
1,300,000,000 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
574,000,000 
 
 
Extinguishment of Debt, Amount
 
 
 
 
 
 
 
 
 
 
 
 
 
 
39,000,000 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Payments of Debt Issuance Costs
12,000,000 
23,000,000 
 
 
 
 
 
 
 
 
 
 
 
 
14,000,000 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Unamortized Debt Issuance Costs
 
 
 
 
 
 
 
 
 
 
 
 
 
 
27,000,000 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Letters of Credit Issued
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
10,000,000 
 
Basis spread of variable rate
 
 
 
1.00% 
2.00% 
 
1.50% 
2.50% 
 
 
 
 
1.00% 
2.00% 
 
 
 
 
0.25% 
1.25% 
 
 
 
1.25% 
0.25% 
1.25% 
 
 
 
Variable rate
 
 
 
 
 
 
 
 
1.00% 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Change in interest rate
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
0.00% 
2.25% 
 
 
 
 
 
 
 
 
 
 
 
 
Borrowings as of December 31
 
 
 
 
 
$ 772,000,000 
 
 
 
$ 0 
 
 
 
 
 
 
 
 
 
 
$ 564,000,000 
$ 567,000,000 
$ 0 
 
 
 
 
 
 
Rates effective as of December 31
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
1.4375% 
 
 
 
 
0.00% 
 
 
 
 
 
 
Consolidated Leverage Ratio
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
275.00% 
 
Debt Senior Notes (Details) (USD $)
0 Months Ended 12 Months Ended 12 Months Ended 12 Months Ended
Feb. 14, 2013
May 17, 2011
Dec. 31, 2013
Notes Payable, Other Payables [Member]
Senior Notes, 5.875% Due 2019 [Member]
Dec. 31, 2012
Notes Payable, Other Payables [Member]
Senior Notes, 5.875% Due 2019 [Member]
May 17, 2011
Notes Payable, Other Payables [Member]
Senior Notes, 5.875% Due 2019 [Member]
Dec. 31, 2013
Notes Payable, Other Payables [Member]
Senior Notes, 6.125% Due 2021 [Member]
Dec. 31, 2012
Notes Payable, Other Payables [Member]
Senior Notes, 6.125% Due 2021 [Member]
May 17, 2011
Notes Payable, Other Payables [Member]
Senior Notes, 6.125% Due 2021 [Member]
Dec. 31, 2013
Notes Payable, Other Payables [Member]
Senior Notes, 5.000% Due 2023 [Member]
Feb. 14, 2013
Notes Payable, Other Payables [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
 
 
5.875% 
5.875% 
5.875% 
6.125% 
6.125% 
6.125% 
 
5.00% 
Debt Instrument, Maturity Date
 
 
May 15, 2019 
Dec. 31, 2019 
 
May 15, 2021 
Dec. 31, 2021 
 
Feb. 15, 2023 
 
Payments of Debt Issuance Costs
12,000,000 
23,000,000 
 
 
 
 
 
 
 
 
Senior Note Net Proceeds
 
$ 1,000,000,000 
 
 
 
 
 
 
 
 
Debt Other Financing (Details)
In Millions, unless otherwise specified
12 Months Ended
Dec. 31, 2013
USD ($)
Dec. 31, 2012
USD ($)
Dec. 31, 2011
USD ($)
Dec. 31, 2013
EUR (€)
Dec. 31, 2013
Accounts Receivable Factoring [Member]
USD ($)
Dec. 31, 2012
Accounts Receivable Factoring [Member]
USD ($)
Schedule of Debt [Line Items]
 
 
 
 
 
 
Maximum Funding From Factoring Program
 
 
 
€ 350 
 
 
Other Short-term Borrowings
 
 
 
 
1 
19 
Other Debt and Capital Lease Obligations
47 
106 
 
 
 
 
Interest Paid
$ 118 
$ 119 
$ 101 
 
 
 
Pension Benefits Narrative (Details) (USD $)
In Millions, unless otherwise specified
12 Months Ended
Dec. 31, 2013
Dec. 31, 2012
Dec. 31, 2011
Compensation and Retirement Disclosure [Abstract]
 
 
 
Defined Benefit Pension Plan, Postemployment Benefit Period
5 years 
 
 
Defined Benefit Plan, Estimated Future Employer Contributions in Next Fiscal Year
$ 90 
 
 
Defined Contribution Plan, Cost Recognized
$ 49 
$ 48 
$ 46 
Percentage Change in Actuarial Assumptions and Plan Provisions Amortized
10.00% 
 
 
Pension Benefits Funded Status (Details) (USD $)
In Millions, unless otherwise specified
12 Months Ended
Dec. 31, 2013
Dec. 31, 2012
Dec. 31, 2011
Pension and Other Postretirement Defined Benefit Plans, Liabilities [Abstract]
 
 
 
Pension and Other Postretirement Defined Benefit Plans, Non-current Liabilities
$ (959)
$ (929)
 
U.S. Plans
 
 
 
Defined Benefit Plan, Change in Benefit Obligation [Roll Forward]
 
 
 
Defined Benefit Plan, Benefit Obligation
80 
83 
 
Interest Cost
2 
3 
3 
Defined Benefit Plan, Actuarial (Gain) Loss
(2)
4 
 
Defined Benefit Plan, Benefits Paid
(11)
(10)
 
Defined Benefit Plan, Benefit Obligation
69 
80 
83 
Defined Benefit Plan, Change in Fair Value of Plan Assets [Roll Forward]
 
 
 
Defined Benefit Plan, Fair Value of Plan Assets
0 
0 
 
Defined Benefit Plan, Delphi Contributions
11 
10 
 
Defined Benefit Plan, Benefits Paid
(11)
(10)
 
Defined Benefit Plan, Fair Value of Plan Assets
0 
0 
0 
Defined Benefit Plan, Underfunded Status
(69)
(80)
 
Pension and Other Postretirement Defined Benefit Plans, Liabilities [Abstract]
 
 
 
Pension and Other Postretirement Defined Benefit Plans, Current Liabilities
(12)
(11)
 
Pension and Other Postretirement Defined Benefit Plans, Non-current Liabilities
(57)
(69)
 
Pension and Other Postretirement Defined Benefit Plans, Total Liabilities
(69)
(80)
 
Pension and Other Postretirement Benefit Plans, Accumulated Other Comprehensive Income (Loss), before Tax [Abstract]
 
 
 
Pension and Other Postretirement Benefit Plans, Accumulated Other Comprehensive Income (Loss), Net Gains (Losses), before Tax
11 
13 
 
Pension and Other Postretirement Benefit Plans, Accumulated Other Comprehensive Income (Loss), before Tax
11 
13 
 
Non-U.S. Plans
 
 
 
Defined Benefit Plan, Change in Benefit Obligation [Roll Forward]
 
 
 
Defined Benefit Plan, Benefit Obligation
1,972 
1,596 
 
Liabilities assumed in the acquisition
0 
29 
 
Divestitures
0 
(5)
 
Service Cost
53 
44 
45 
Interest Cost
85 
84 
87 
Defined Benefit Plan, Actuarial (Gain) Loss
39 
234 
 
Defined Benefit Plan, Benefits Paid
(86)
(82)
 
Defined Benefit Plan, Impacts of curtailments
(5)
0 
 
Defined Benefit Plan, Plan Amendments and other
0 
2 
 
Defined Benefit Plan, Exchange rate movements
47 
70 
 
Defined Benefit Plan, Benefit Obligation
2,105 
1,972 
1,596 
Defined Benefit Plan, Change in Fair Value of Plan Assets [Roll Forward]
 
 
 
Defined Benefit Plan, Fair Value of Plan Assets
1,109 
987 
 
Defined Benefit Plan, Assets acquired in the acquisition
0 
5 
 
Defined Benefit Plan, Actual Return on Plan Assets
56 
91 
 
Defined Benefit Plan, Delphi Contributions
98 
59 
 
Defined Benefit Plan, Benefits Paid
(86)
(82)
 
Defined Benefit Plan, Foreign Currency Exchange Rate Changes, Plan Assets
22 
49 
 
Defined Benefit Plan, Fair Value of Plan Assets
1,199 
1,109 
987 
Defined Benefit Plan, Underfunded Status
(906)
(863)
 
Pension and Other Postretirement Defined Benefit Plans, Liabilities [Abstract]
 
 
 
Pension and Other Postretirement Defined Benefit Plans, Current Liabilities
(14)
(23)
 
Pension and Other Postretirement Defined Benefit Plans, Non-current Liabilities
(892)
(840)
 
Pension and Other Postretirement Defined Benefit Plans, Total Liabilities
(906)
(863)
 
Pension and Other Postretirement Benefit Plans, Accumulated Other Comprehensive Income (Loss), before Tax [Abstract]
 
 
 
Pension and Other Postretirement Benefit Plans, Accumulated Other Comprehensive Income (Loss), Net Gains (Losses), before Tax
278 
228 
 
Pension and Other Postretirement Benefit Plans, Accumulated Other Comprehensive Income (Loss), Net Prior Service Cost (Credit), before Tax
1 
1 
 
Pension and Other Postretirement Benefit Plans, Accumulated Other Comprehensive Income (Loss), before Tax
$ 279 
$ 229 
 
Pension Benefits Benefit Obligations and Fair Value of Plan Assets (Details) (USD $)
In Millions, unless otherwise specified
Dec. 31, 2013
Dec. 31, 2012
Dec. 31, 2011
Defined Benefit Plan, Pension Plans with Plan Assets in Excess of Accumulated Benefit Obligations [Abstract]
 
 
 
Other Postretirement Benefits Payable
$ 7 
$ 15 
 
U.S. Plans
 
 
 
Defined Benefit Plan, Pension Plans with Accumulated Benefit Obligations in Excess of Plan Assets [Abstract]
 
 
 
Defined Benefit Plan, PBO
69 
80 
 
Defined Benefit Plan, ABO
69 
80 
 
Defined Benefit Plan, Fair Value of Plan Assets
0 
0 
 
Defined Benefit Plan, Pension Plans with Plan Assets in Excess of Accumulated Benefit Obligations [Abstract]
 
 
 
Defined Benefit Plan, PBO
0 
0 
 
Defined Benefit Plan, ABO
0 
0 
 
Defined Benefit Plan, Fair Value of Plan Assets
0 
0 
 
Defined Benefit Plan, Benefit Obligation
69 
80 
83 
Defined Benefit Plan, Accumulated Benefit Obligation
69 
80 
 
Defined Benefit Plan, Fair Value of Plan Assets
0 
0 
0 
Non-U.S. Plans
 
 
 
Defined Benefit Plan, Pension Plans with Accumulated Benefit Obligations in Excess of Plan Assets [Abstract]
 
 
 
Defined Benefit Plan, PBO
1,956 
1,813 
 
Defined Benefit Plan, ABO
1,749 
1,619 
 
Defined Benefit Plan, Fair Value of Plan Assets
1,052 
973 
 
Defined Benefit Plan, Pension Plans with Plan Assets in Excess of Accumulated Benefit Obligations [Abstract]
 
 
 
Defined Benefit Plan, PBO
149 
159 
 
Defined Benefit Plan, ABO
100 
103 
 
Defined Benefit Plan, Fair Value of Plan Assets
147 
136 
 
Defined Benefit Plan, Benefit Obligation
2,105 
1,972 
1,596 
Defined Benefit Plan, Accumulated Benefit Obligation
1,849 
1,722 
 
Defined Benefit Plan, Fair Value of Plan Assets
$ 1,199 
$ 1,109 
$ 987 
Pension Benefits Net Periodic Benefit Cost (Details) (USD $)
12 Months Ended
Dec. 31, 2013
Dec. 31, 2012
Dec. 31, 2011
Non-U.S. Plans
 
 
 
Defined Benefit Plan Disclosure [Line Items]
 
 
 
Service Cost
$ 53,000,000 
$ 44,000,000 
$ 45,000,000 
Interest Cost
85,000,000 
84,000,000 
87,000,000 
Expected Return on Plan Assets
(70,000,000)
(65,000,000)
(61,000,000)
Settlement gain
2,000,000 
0 
(1,000,000)
Curtailment (gain) loss
0 
0 
(3,000,000)
Amortization of Actuarial Losses
7,000,000 
0 
0 
Defined Benefit Plan, Other Costs
1,000,000 
1,000,000 
0 
Net Periodic Benefit Cost
78,000,000 
64,000,000 
67,000,000 
U.S. Plans
 
 
 
Defined Benefit Plan Disclosure [Line Items]
 
 
 
Interest Cost
2,000,000 
3,000,000 
3,000,000 
Net Periodic Benefit Cost
2,000,000 
3,000,000 
3,000,000 
Maximum [Member]
 
 
 
Defined Benefit Plan Disclosure [Line Items]
 
 
 
Pension and Other Postretirement Benefit Plans, Amounts that Will be Amortized from Accumulated Other Comprehensive Income (Loss) in Next Fiscal Year
$ 8,000,000 
 
 
Pension Benefits Assumptions Used (Details)
12 Months Ended
Dec. 31, 2013
Dec. 31, 2012
Dec. 31, 2011
U.S. Plans
 
 
 
Defined Benefit Plan, Weighted Average Assumptions Used in Calculating Benefit Obligation [Abstract]
 
 
 
Defined Benefit Plan, Weighted-Average Discount Rate
3.00% 
2.40% 
 
Defined Benefit Plan, Weighted Average Assumptions Used in Calculating Net Periodic Benefit Cost [Abstract]
 
 
 
Defined Benefit Plan, Weighted-Average Discount Rate
2.40% 
3.30% 
4.10% 
Non-U.S. Plans
 
 
 
Defined Benefit Plan, Weighted Average Assumptions Used in Calculating Benefit Obligation [Abstract]
 
 
 
Defined Benefit Plan, Weighted-Average Discount Rate
4.58% 
4.41% 
 
Defined Benefit Plan, Weighted-Average Rate of Increase In Compensation Levels
3.85% 
3.50% 
 
Defined Benefit Plan, Weighted Average Assumptions Used in Calculating Net Periodic Benefit Cost [Abstract]
 
 
 
Defined Benefit Plan, Weighted-Average Discount Rate
4.41% 
5.24% 
5.69% 
Defined Benefit Plan, Weighted-Average Rate of Increase In Compensation Levels
3.50% 
3.66% 
3.88% 
Defined Benefit Plan, Expected Long-term Rate of Return on Plan Assets
6.44% 
6.43% 
6.65% 
UNITED KINGDOM |
Non-U.S. Plans
 
 
 
Defined Benefit Plan, Weighted Average Assumptions Used in Calculating Net Periodic Benefit Cost [Abstract]
 
 
 
Defined Benefit Plan, Expected Long-term Rate of Return on Plan Assets
6.25% 
 
 
MEXICO |
Non-U.S. Plans
 
 
 
Defined Benefit Plan, Weighted Average Assumptions Used in Calculating Net Periodic Benefit Cost [Abstract]
 
 
 
Defined Benefit Plan, Expected Long-term Rate of Return on Plan Assets
8.50% 
 
 
Pension Benefits Change in Assumptions (Details) (USD $)
In Millions, unless otherwise specified
12 Months Ended
Dec. 31, 2013
Compensation and Retirement Disclosure [Abstract]
 
Defined Benefit Plan, Effect of Change in Assumption Used Calculating Net Periodic Benefit Cost, Discount Rate Decrease
$ 8 
Defined Benefit Plan, Effect of Change in Assumption Used Calculating Net Periodic Benefit Cost, Discount Rate Increase
(5)
Defined Benefit Plan, Effect of Change in Assumption Used Calculating Net Periodic Benefit Cost, Expected Long-term Return on Assets Decrease
3 
Defined Benefit Plan, Effect of Change in Assumption Used Calculating Net Periodic Benefit Cost, Expected Long-term Return on Assets Increase
(3)
Defined Benefit Plan, Effect of Change in Assumption Used Calculating Benefit Obligation, Discount Rate Decrease
93 
Defined Benefit Plan, Effect of Change in Assumption Used Calculating Benefit Obligation, Discount Rate Increase
$ (87)
Pension Benefits Expected Future Benefit Payments (Details) (USD $)
In Millions, unless otherwise specified
Dec. 31, 2013
U.S. Plans
 
Defined Benefit Plan Disclosure [Line Items]
 
Defined Benefit Plan, Expected Future Benefit Payments, Next Twelve Months
$ 12 
Defined Benefit Plan, Expected Future Benefit Payments, Year Two
7 
Defined Benefit Plan, Expected Future Benefit Payments, Year Three
9 
Defined Benefit Plan, Expected Future Benefit Payments, Year Four
8 
Defined Benefit Plan, Expected Future Benefit Payments, Year Five
7 
Defined Benefit Plan, Expected Future Benefit Payments, Five Fiscal Years Thereafter
27 
Non-U.S. Plans
 
Defined Benefit Plan Disclosure [Line Items]
 
Defined Benefit Plan, Expected Future Benefit Payments, Next Twelve Months
78 
Defined Benefit Plan, Expected Future Benefit Payments, Year Two
72 
Defined Benefit Plan, Expected Future Benefit Payments, Year Three
78 
Defined Benefit Plan, Expected Future Benefit Payments, Year Four
83 
Defined Benefit Plan, Expected Future Benefit Payments, Year Five
90 
Defined Benefit Plan, Expected Future Benefit Payments, Five Fiscal Years Thereafter
$ 555 
Pension Benefits Fair Value of Plan Assets (Details) (USD $)
In Millions, unless otherwise specified
Dec. 31, 2013
Dec. 31, 2012
Dec. 31, 2011
Estimated Fair Value [Member]
 
 
 
Defined Benefit Plan Disclosure [Line Items]
 
 
 
Defined Benefit Plan, Fair Value of Plan Assets
$ 1,199 
$ 1,109 
 
Estimated Fair Value [Member] |
Cash [Member]
 
 
 
Defined Benefit Plan Disclosure [Line Items]
 
 
 
Defined Benefit Plan, Fair Value of Plan Assets
64 
58 
 
Estimated Fair Value [Member] |
Time Deposits [Member]
 
 
 
Defined Benefit Plan Disclosure [Line Items]
 
 
 
Defined Benefit Plan, Fair Value of Plan Assets
7 
2 
 
Estimated Fair Value [Member] |
Equity Funds [Member]
 
 
 
Defined Benefit Plan Disclosure [Line Items]
 
 
 
Defined Benefit Plan, Fair Value of Plan Assets
412 
313 
 
Estimated Fair Value [Member] |
Bond Mutual Funds [Member]
 
 
 
Defined Benefit Plan Disclosure [Line Items]
 
 
 
Defined Benefit Plan, Fair Value of Plan Assets
435 
430 
 
Estimated Fair Value [Member] |
Real Estate Trust Funds [Member]
 
 
 
Defined Benefit Plan Disclosure [Line Items]
 
 
 
Defined Benefit Plan, Fair Value of Plan Assets
45 
42 
 
Estimated Fair Value [Member] |
Hedge Funds [Member]
 
 
 
Defined Benefit Plan Disclosure [Line Items]
 
 
 
Defined Benefit Plan, Fair Value of Plan Assets
90 
91 
 
Estimated Fair Value [Member] |
Commodities Fund [Member]
 
 
 
Defined Benefit Plan Disclosure [Line Items]
 
 
 
Defined Benefit Plan, Fair Value of Plan Assets
 
39 
 
Estimated Fair Value [Member] |
Insurance Contracts [Member]
 
 
 
Defined Benefit Plan Disclosure [Line Items]
 
 
 
Defined Benefit Plan, Fair Value of Plan Assets
4 
3 
 
Estimated Fair Value [Member] |
Debt Securities [Member]
 
 
 
Defined Benefit Plan Disclosure [Line Items]
 
 
 
Defined Benefit Plan, Fair Value of Plan Assets
85 
76 
 
Estimated Fair Value [Member] |
Equity Securities [Member]
 
 
 
Defined Benefit Plan Disclosure [Line Items]
 
 
 
Defined Benefit Plan, Fair Value of Plan Assets
57 
55 
 
Quoted Prices in Active Markets for Identical Assets, Level 1 [Member]
 
 
 
Defined Benefit Plan Disclosure [Line Items]
 
 
 
Defined Benefit Plan, Fair Value of Plan Assets
206 
189 
 
Quoted Prices in Active Markets for Identical Assets, Level 1 [Member] |
Cash [Member]
 
 
 
Defined Benefit Plan Disclosure [Line Items]
 
 
 
Defined Benefit Plan, Fair Value of Plan Assets
64 
58 
 
Quoted Prices in Active Markets for Identical Assets, Level 1 [Member] |
Time Deposits [Member]
 
 
 
Defined Benefit Plan Disclosure [Line Items]
 
 
 
Defined Benefit Plan, Fair Value of Plan Assets
0 
0 
 
Quoted Prices in Active Markets for Identical Assets, Level 1 [Member] |
Equity Funds [Member]
 
 
 
Defined Benefit Plan Disclosure [Line Items]
 
 
 
Defined Benefit Plan, Fair Value of Plan Assets
0 
0 
 
Quoted Prices in Active Markets for Identical Assets, Level 1 [Member] |
Bond Mutual Funds [Member]
 
 
 
Defined Benefit Plan Disclosure [Line Items]
 
 
 
Defined Benefit Plan, Fair Value of Plan Assets
0 
0 
 
Quoted Prices in Active Markets for Identical Assets, Level 1 [Member] |
Real Estate Trust Funds [Member]
 
 
 
Defined Benefit Plan Disclosure [Line Items]
 
 
 
Defined Benefit Plan, Fair Value of Plan Assets
0 
0 
 
Quoted Prices in Active Markets for Identical Assets, Level 1 [Member] |
Hedge Funds [Member]
 
 
 
Defined Benefit Plan Disclosure [Line Items]
 
 
 
Defined Benefit Plan, Fair Value of Plan Assets
0 
0 
 
Quoted Prices in Active Markets for Identical Assets, Level 1 [Member] |
Commodities Fund [Member]
 
 
 
Defined Benefit Plan Disclosure [Line Items]
 
 
 
Defined Benefit Plan, Fair Value of Plan Assets
 
0 
 
Quoted Prices in Active Markets for Identical Assets, Level 1 [Member] |
Insurance Contracts [Member]
 
 
 
Defined Benefit Plan Disclosure [Line Items]
 
 
 
Defined Benefit Plan, Fair Value of Plan Assets
0 
0 
 
Quoted Prices in Active Markets for Identical Assets, Level 1 [Member] |
Debt Securities [Member]
 
 
 
Defined Benefit Plan Disclosure [Line Items]
 
 
 
Defined Benefit Plan, Fair Value of Plan Assets
85 
76 
 
Quoted Prices in Active Markets for Identical Assets, Level 1 [Member] |
Equity Securities [Member]
 
 
 
Defined Benefit Plan Disclosure [Line Items]
 
 
 
Defined Benefit Plan, Fair Value of Plan Assets
57 
55 
 
Significant Observable Inputs, Level 2 [Member]
 
 
 
Defined Benefit Plan Disclosure [Line Items]
 
 
 
Defined Benefit Plan, Fair Value of Plan Assets
854 
784 
 
Significant Observable Inputs, Level 2 [Member] |
Cash [Member]
 
 
 
Defined Benefit Plan Disclosure [Line Items]
 
 
 
Defined Benefit Plan, Fair Value of Plan Assets
0 
0 
 
Significant Observable Inputs, Level 2 [Member] |
Time Deposits [Member]
 
 
 
Defined Benefit Plan Disclosure [Line Items]
 
 
 
Defined Benefit Plan, Fair Value of Plan Assets
7 
2 
 
Significant Observable Inputs, Level 2 [Member] |
Equity Funds [Member]
 
 
 
Defined Benefit Plan Disclosure [Line Items]
 
 
 
Defined Benefit Plan, Fair Value of Plan Assets
412 
313 
 
Significant Observable Inputs, Level 2 [Member] |
Bond Mutual Funds [Member]
 
 
 
Defined Benefit Plan Disclosure [Line Items]
 
 
 
Defined Benefit Plan, Fair Value of Plan Assets
435 
430 
 
Significant Observable Inputs, Level 2 [Member] |
Real Estate Trust Funds [Member]
 
 
 
Defined Benefit Plan Disclosure [Line Items]
 
 
 
Defined Benefit Plan, Fair Value of Plan Assets
0 
0 
 
Significant Observable Inputs, Level 2 [Member] |
Hedge Funds [Member]
 
 
 
Defined Benefit Plan Disclosure [Line Items]
 
 
 
Defined Benefit Plan, Fair Value of Plan Assets
0 
0 
 
Significant Observable Inputs, Level 2 [Member] |
Commodities Fund [Member]
 
 
 
Defined Benefit Plan Disclosure [Line Items]
 
 
 
Defined Benefit Plan, Fair Value of Plan Assets
 
39 
 
Significant Observable Inputs, Level 2 [Member] |
Insurance Contracts [Member]
 
 
 
Defined Benefit Plan Disclosure [Line Items]
 
 
 
Defined Benefit Plan, Fair Value of Plan Assets
0 
0 
 
Significant Observable Inputs, Level 2 [Member] |
Debt Securities [Member]
 
 
 
Defined Benefit Plan Disclosure [Line Items]
 
 
 
Defined Benefit Plan, Fair Value of Plan Assets
0 
0 
 
Significant Observable Inputs, Level 2 [Member] |
Equity Securities [Member]
 
 
 
Defined Benefit Plan Disclosure [Line Items]
 
 
 
Defined Benefit Plan, Fair Value of Plan Assets
0 
0 
 
Significant Unobservable Inputs, Level 3 [Member]
 
 
 
Defined Benefit Plan Disclosure [Line Items]
 
 
 
Defined Benefit Plan, Fair Value of Plan Assets
139 
136 
 
Significant Unobservable Inputs, Level 3 [Member] |
Cash [Member]
 
 
 
Defined Benefit Plan Disclosure [Line Items]
 
 
 
Defined Benefit Plan, Fair Value of Plan Assets
0 
0 
 
Significant Unobservable Inputs, Level 3 [Member] |
Time Deposits [Member]
 
 
 
Defined Benefit Plan Disclosure [Line Items]
 
 
 
Defined Benefit Plan, Fair Value of Plan Assets
0 
0 
 
Significant Unobservable Inputs, Level 3 [Member] |
Equity Funds [Member]
 
 
 
Defined Benefit Plan Disclosure [Line Items]
 
 
 
Defined Benefit Plan, Fair Value of Plan Assets
0 
0 
 
Significant Unobservable Inputs, Level 3 [Member] |
Bond Mutual Funds [Member]
 
 
 
Defined Benefit Plan Disclosure [Line Items]
 
 
 
Defined Benefit Plan, Fair Value of Plan Assets
0 
0 
 
Significant Unobservable Inputs, Level 3 [Member] |
Real Estate Trust Funds [Member]
 
 
 
Defined Benefit Plan Disclosure [Line Items]
 
 
 
Defined Benefit Plan, Fair Value of Plan Assets
45 
42 
43 
Significant Unobservable Inputs, Level 3 [Member] |
Hedge Funds [Member]
 
 
 
Defined Benefit Plan Disclosure [Line Items]
 
 
 
Defined Benefit Plan, Fair Value of Plan Assets
90 
91 
81 
Significant Unobservable Inputs, Level 3 [Member] |
Commodities Fund [Member]
 
 
 
Defined Benefit Plan Disclosure [Line Items]
 
 
 
Defined Benefit Plan, Fair Value of Plan Assets
 
0 
 
Significant Unobservable Inputs, Level 3 [Member] |
Insurance Contracts [Member]
 
 
 
Defined Benefit Plan Disclosure [Line Items]
 
 
 
Defined Benefit Plan, Fair Value of Plan Assets
4 
3 
0 
Significant Unobservable Inputs, Level 3 [Member] |
Debt Securities [Member]
 
 
 
Defined Benefit Plan Disclosure [Line Items]
 
 
 
Defined Benefit Plan, Fair Value of Plan Assets
0 
0 
 
Significant Unobservable Inputs, Level 3 [Member] |
Equity Securities [Member]
 
 
 
Defined Benefit Plan Disclosure [Line Items]
 
 
 
Defined Benefit Plan, Fair Value of Plan Assets
$ 0 
$ 0 
 
Pension Benefits Fair Value of Plan Assets, Unobservable Input Reconciliation (Details) (USD $)
In Millions, unless otherwise specified
12 Months Ended
Dec. 31, 2013
Dec. 31, 2012
Significant Unobservable Inputs, Level 3 [Member]
 
 
Defined Benefit Plan, Actual Return on Plan Assets [Abstract]
 
 
Defined Benefit Plan, Fair Value of Plan Assets
$ 139 
$ 136 
Estimated Fair Value [Member]
 
 
Defined Benefit Plan, Actual Return on Plan Assets [Abstract]
 
 
Defined Benefit Plan, Fair Value of Plan Assets
1,199 
1,109 
Cash [Member] |
Significant Unobservable Inputs, Level 3 [Member]
 
 
Defined Benefit Plan, Actual Return on Plan Assets [Abstract]
 
 
Defined Benefit Plan, Fair Value of Plan Assets
0 
0 
Cash [Member] |
Estimated Fair Value [Member]
 
 
Defined Benefit Plan, Actual Return on Plan Assets [Abstract]
 
 
Defined Benefit Plan, Fair Value of Plan Assets
64 
58 
Equity Securities [Member] |
Significant Unobservable Inputs, Level 3 [Member]
 
 
Defined Benefit Plan, Actual Return on Plan Assets [Abstract]
 
 
Defined Benefit Plan, Fair Value of Plan Assets
0 
0 
Equity Securities [Member] |
Estimated Fair Value [Member]
 
 
Defined Benefit Plan, Actual Return on Plan Assets [Abstract]
 
 
Defined Benefit Plan, Fair Value of Plan Assets
57 
55 
Equity Funds [Member] |
Significant Unobservable Inputs, Level 3 [Member]
 
 
Defined Benefit Plan, Actual Return on Plan Assets [Abstract]
 
 
Defined Benefit Plan, Fair Value of Plan Assets
0 
0 
Equity Funds [Member] |
Estimated Fair Value [Member]
 
 
Defined Benefit Plan, Actual Return on Plan Assets [Abstract]
 
 
Defined Benefit Plan, Fair Value of Plan Assets
412 
313 
Bond Mutual Funds [Member] |
Significant Unobservable Inputs, Level 3 [Member]
 
 
Defined Benefit Plan, Actual Return on Plan Assets [Abstract]
 
 
Defined Benefit Plan, Fair Value of Plan Assets
0 
0 
Bond Mutual Funds [Member] |
Estimated Fair Value [Member]
 
 
Defined Benefit Plan, Actual Return on Plan Assets [Abstract]
 
 
Defined Benefit Plan, Fair Value of Plan Assets
435 
430 
Real Estate Trust Funds [Member] |
Significant Unobservable Inputs, Level 3 [Member]
 
 
Defined Benefit Plan, Change in Fair Value of Plan Assets [Roll Forward]
 
 
Defined Benefit Plan, Fair Value of Plan Assets
42 
43 
Defined Benefit Plan, Actual Return on Plan Assets [Abstract]
 
 
Defined Benefit Plan, Actual Return on Plan Assets Still Held at the Reporting Date
2 
(1)
Defined Benefit Plan, Assets assumed in acquisition
 
0 
Defined Benefit Plan, Purchases, Sales, and Settlements
1 
0 
Defined Benefit Plan, Fair Value of Plan Assets
45 
42 
Real Estate Trust Funds [Member] |
Estimated Fair Value [Member]
 
 
Defined Benefit Plan, Actual Return on Plan Assets [Abstract]
 
 
Defined Benefit Plan, Fair Value of Plan Assets
45 
42 
Hedge Funds [Member] |
Significant Unobservable Inputs, Level 3 [Member]
 
 
Defined Benefit Plan, Change in Fair Value of Plan Assets [Roll Forward]
 
 
Defined Benefit Plan, Fair Value of Plan Assets
91 
81 
Defined Benefit Plan, Actual Return on Plan Assets [Abstract]
 
 
Defined Benefit Plan, Actual Return on Plan Assets Still Held at the Reporting Date
4 
4 
Defined Benefit Plan, Assets assumed in acquisition
 
0 
Defined Benefit Plan, Purchases, Sales, and Settlements
(5)
6 
Defined Benefit Plan, Fair Value of Plan Assets
90 
91 
Hedge Funds [Member] |
Estimated Fair Value [Member]
 
 
Defined Benefit Plan, Actual Return on Plan Assets [Abstract]
 
 
Defined Benefit Plan, Fair Value of Plan Assets
90 
91 
Commodities Fund [Member] |
Significant Unobservable Inputs, Level 3 [Member]
 
 
Defined Benefit Plan, Actual Return on Plan Assets [Abstract]
 
 
Defined Benefit Plan, Fair Value of Plan Assets
 
0 
Commodities Fund [Member] |
Estimated Fair Value [Member]
 
 
Defined Benefit Plan, Actual Return on Plan Assets [Abstract]
 
 
Defined Benefit Plan, Fair Value of Plan Assets
 
39 
Insurance Contracts [Member] |
Significant Unobservable Inputs, Level 3 [Member]
 
 
Defined Benefit Plan, Change in Fair Value of Plan Assets [Roll Forward]
 
 
Defined Benefit Plan, Fair Value of Plan Assets
3 
0 
Defined Benefit Plan, Actual Return on Plan Assets [Abstract]
 
 
Defined Benefit Plan, Actual Return on Plan Assets Still Held at the Reporting Date
0 
0 
Defined Benefit Plan, Assets assumed in acquisition
 
3 
Defined Benefit Plan, Purchases, Sales, and Settlements
1 
0 
Defined Benefit Plan, Fair Value of Plan Assets
4 
3 
Insurance Contracts [Member] |
Estimated Fair Value [Member]
 
 
Defined Benefit Plan, Actual Return on Plan Assets [Abstract]
 
 
Defined Benefit Plan, Fair Value of Plan Assets
$ 4 
$ 3 
Commitments And Contingencies Environmental Matters (Details) (USD $)
In Millions, unless otherwise specified
Dec. 31, 2013
Dec. 31, 2012
Environmental Exit Cost [Line Items]
 
 
Accrual for Environmental Loss Contingencies
$ 21 
$ 21 
Accrued Environmental Loss Contingencies, Noncurrent
18 
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
$ 18 
$ 18 
Commitments And Contingencies Brazil Matters (Details) (Brazil [Member], USD $)
In Millions, unless otherwise specified
12 Months Ended
Dec. 31, 2013
Brazil [Member]
 
Loss Contingencies [Line Items]
 
Brazil Loss Contingency Estimate Of Possible Loss
$ 200 
Loss Contingency Accrual, at Carrying Value
$ 31 
Commitments And Contingencies Operating Leases (Details) (USD $)
In Millions, unless otherwise specified
12 Months Ended
Dec. 31, 2013
Dec. 31, 2012
Dec. 31, 2011
Commitments and Contingencies Disclosure [Abstract]
 
 
 
Rent Expense
$ 107 
$ 99 
$ 95 
Operating Leases, Minimum Lease Commitments
$ 467 
 
 
Commitments And Contingencies Minimum Future Operating Lease Commitments (Details) (USD $)
In Millions, unless otherwise specified
Dec. 31, 2013
Commitments and Contingencies Disclosure [Abstract]
 
2014
$ 108 
2015
91 
2016
77 
2017
61 
2018
42 
Thereafter
88 
Total
$ 467 
Income Taxes Narrative (Details) (USD $)
In Millions, unless otherwise specified
12 Months Ended
Dec. 31, 2013
Dec. 31, 2012
Dec. 31, 2013
Foreign Tax Authority [Member]
Valuation Allowance, Operating Loss Carryforwards [Member]
Dec. 31, 2013
Foreign Tax Authority [Member]
Valuation Allowance, Tax Credit Carryforward [Member]
Dec. 31, 2012
Foreign Tax Authority [Member]
Valuation Allowance, Tax Credit Carryforward [Member]
Dec. 31, 2013
Minimum [Member]
Foreign Tax Authority [Member]
Deferred Tax Assets, Operating Loss and Tax Credit Carryforwards [Abstract]
 
 
 
 
 
 
Deferred Tax Assets, Operating Loss Carryforwards, Foreign
$ 614 
 
 
 
 
 
Deferred Tax Assets, Valuation Allowance
642 
502 
552 
25 
24 
 
Operating Loss Carryforwards, Expiration Dates, Period
 
 
 
 
 
1 year 
Deferred Tax Assets, Tax Credit Carryforwards
31 
30 
 
 
 
 
Undistributed Earnings of Foreign Subsidiaries [Abstract]
 
 
 
 
 
 
Indefinitely reinvested earnings of foreign subsidiaries
92 
 
 
 
 
 
Amount of Unrecognized Deferred Tax Liability, Undistributed Earnings of Foreign Subsidiaries
27 
 
 
 
 
 
Deferred Tax Liabilities, Undistributed Foreign Earnings
$ 59 
$ 31 
 
 
 
 
Income Taxes Income before Income Taxes (Details) (USD $)
In Millions, unless otherwise specified
12 Months Ended
Dec. 31, 2013
Dec. 31, 2012
Dec. 31, 2011
Income Tax Disclosure [Abstract]
 
 
 
U.S. income
$ 233 
$ 470 
$ 149 
Non-U.S. income
1,290 
875 
1,357 
Income before income taxes and equity income
$ 1,523 
$ 1,345 
$ 1,506 
Income Taxes Components of Income Tax Expense (Benefit) (Details) (USD $)
In Millions, unless otherwise specified
12 Months Ended
Dec. 31, 2013
Dec. 31, 2012
Dec. 31, 2011
Current Income Tax Expense (Benefit), Continuing Operations [Abstract]
 
 
 
U.S. federal
$ 53 
$ 71 
$ 104 
Non-U.S.
247 
199 
232 
U.S. state and local
6 
5 
5 
Total current
306 
275 
341 
Deferred Income Tax Expense (Benefit), Continuing Operations [Abstract]
 
 
 
U.S. federal
(28)
24 
(45)
Non-U.S.
(21)
(88)
12 
U.S. state and local
(1)
1 
(3)
Total deferred
(50)
(63)
(36)
Total income tax expense
256 
212 
305 
Adjustment to Additional Paid in Capital, Income Tax Effect from Share-based Compensation, Net
1 
0 
0 
Income Taxes Paid or Withheld
$ 276 
$ 280 
$ 303 
Income Taxes Income Tax Rate Reconciliation (Details) (USD $)
In Millions, except Per Share data, unless otherwise specified
12 Months Ended
Dec. 31, 2013
Dec. 31, 2012
Dec. 31, 2011
Mar. 31, 2016
UNITED KINGDOM
Mar. 31, 2015
UNITED KINGDOM
Dec. 31, 2013
UNITED KINGDOM
Dec. 31, 2012
UNITED KINGDOM
Income Tax Expense (Benefit), Continuing Operations, Income Tax Reconciliation [Abstract]
 
 
 
 
 
 
 
Notional U.S. federal income taxes at statutory rate
$ 533 
$ 471 
$ 527 
 
 
 
 
Income taxed at other rates
(281)
(200)
(225)
 
 
 
 
Change in valuation allowance
6 
(29)
(52)
 
 
 
 
Other change in tax reserves
(13)
(13)
17 
 
 
 
 
Witholding taxes
56 
22 
56 
 
 
 
 
Tax credits
(58)
(13)
(26)
 
 
 
 
Change in tax law
15 
6 
13 
 
 
12 
6 
Tax settlements
0 
(26)
0 
 
 
 
 
Other adjustments
(2)
(6)
(5)
 
 
 
 
Total income tax expense
256 
212 
305 
 
 
 
 
Effective tax rate
17.00% 
16.00% 
20.00% 
 
 
 
 
Income Tax Reconciliation, Increase (Decrease) from Settlements with Taxing Authorities
 
26 
 
 
 
 
 
Income Tax Reconciliation, Other Reconciling Items [Abstract]
 
 
 
 
 
 
 
Effective Income Tax Rate Reconciliation, at Federal Statutory Income Tax Rate
35.00% 
 
 
 
 
 
 
Income Taxed at Other Rates Foreign Income Rate Differential in China, Turkey, and Mexico
75 
41 
64 
 
 
 
 
Income Tax Holiday, Aggregate Dollar Amount
23 
13 
20 
 
 
 
 
Income Tax Holiday, Income Tax Benefits Per Share
$ 0.07 
$ 0.04 
$ 0.05 
 
 
 
 
Research and Development Tax Credit
22 
 
 
 
 
 
 
Corporate Income Tax Rate
 
 
 
20.00% 
21.00% 
23.00% 
 
Reduction in Tax Reserves Due to Resolution of Open Issues With Tax Authorities
 
(30)
 
 
 
 
 
Income Tax Reconciliation, Increase (Decrease) Resulting from Foreign Transfer Pricing Positions
 
17 
 
 
 
 
 
Income Tax Reconciliation, Increase (Decrease) Resulting from Change in Withholding Tax
 
 
10 
 
 
 
 
Income Tax Reconciliation, Increase (Decrease) Resulting from Change in Intent, Undistributed Foreign Earnings
 
 
$ 27 
 
 
 
 
Income Taxes Deferred Tax Assets and Liabilities (Details) (USD $)
In Millions, unless otherwise specified
Dec. 31, 2013
Dec. 31, 2012
Deferred Tax Assets, Net of Valuation Allowance [Abstract]
 
 
Pension
$ 208 
$ 200 
Employee Benefits
28 
19 
Net operating loss carryforwards
614 
471 
Warranty and other liabilities
125 
127 
Other
126 
147 
Total gross deferred tax assets
1,101 
964 
Less: valuation allowances
(642)
(502)
Total deferred tax assets (1)
459 1
462 1
Deferred Tax Liabilities, Gross [Abstract]
 
 
Fixed assets
39 
48 
Tax on unremitted profits of certain foreign subsidiaries
59 
31 
Intangibles
97 
151 
Total gross deferred tax liabilities
195 
230 
Net deferred tax assets
$ 264 
$ 232 
Income Taxes Deferred Tax Assets, Balance Sheet Location (Details) (USD $)
In Millions, unless otherwise specified
Dec. 31, 2013
Dec. 31, 2012
Deferred Tax Asset, Balance Sheet Location [Line Items]
 
 
Total deferred tax asset
$ 264 
$ 232 
Current Assets [Member]
 
 
Deferred Tax Asset, Balance Sheet Location [Line Items]
 
 
Total deferred tax asset
133 
148 
Current Liabilities [Member]
 
 
Deferred Tax Asset, Balance Sheet Location [Line Items]
 
 
Total deferred tax asset
(1)
(12)
Noncurrent Assets [Member]
 
 
Deferred Tax Asset, Balance Sheet Location [Line Items]
 
 
Total deferred tax asset
283 
281 
Noncurrent Liabilities [Member]
 
 
Deferred Tax Asset, Balance Sheet Location [Line Items]
 
 
Total deferred tax asset
$ (151)
$ (185)
Income Taxes Unrecognized Tax Benefits Roll Forward (Details) (USD $)
In Millions, unless otherwise specified
12 Months Ended
Dec. 31, 2013
Dec. 31, 2012
Dec. 31, 2011
Income Tax Disclosure [Abstract]
 
 
 
Uncertain Tax Positions More Likely Than Not Largest Amount of Benefit Percentage
50.00% 
 
 
Reconciliation of Unrecognized Tax Benefits, Excluding Amounts Pertaining to Examined Tax Returns [Roll Forward]
 
 
 
Balance at beginning of period
$ 74 
$ 99 
$ 82 
Liabilities assumed in acquisition
0 
2 
0 
Additions related to current year
0 
3 
43 
Additions related to prior year
16 
10 
7 
Reductions related to prior year
(25)
(40)
(24)
Reductions due to expirations of statute of limitations
(4)
0 
(6)
Settlements-cash
0 
0 
(3)
Balance at end of period
61 
74 
99 
Income Tax Uncertainties [Abstract]
 
 
 
Unrecognized Tax Benefits that Would Impact Effective Tax Rate
42 
57 
 
Unrecognized Tax Benefits that Would Impact Effective Tax Rate, Write off of Related Deferred Tax Asset
22 
23 
 
Unrecognized Tax Benefits, Income Tax Penalties and Interest Accrued
15 
18 
 
Unrecognized Tax Benefits, Income Tax Penalties and Interest Expense (Benefit)
$ (3)
$ 3 
$ (3)
Income Taxes Tax Return Filing Determinations and Elections (Details)
8 Months Ended 9 Months Ended 12 Months Ended
Aug. 19, 2009
Oct. 6, 2009
Dec. 31, 2013
Income Tax Contingency [Line Items]
 
 
 
Income Tax Contingency, Federal Statutory Rate for Foreign Shareholders
 
 
30.00% 
Acquisition Date
 
Oct. 06, 2009 
 
Formation of LLP
Aug. 19, 2009 
 
 
Shareholders' Equity And Net Income Per Share Overview (Details) (USD $)
In Millions, except Share data, unless otherwise specified
0 Months Ended 5 Months Ended 9 Months Ended 11 Months Ended
Mar. 31, 2011
May 19, 2011
Oct. 6, 2009
Nov. 22, 2011
Dec. 31, 2013
Dec. 31, 2012
Oct. 6, 2009
Class A [Member]
Nov. 22, 2011
Class B [Member]
Oct. 6, 2009
Class B [Member]
Oct. 6, 2009
Class C [Member]
Jun. 30, 2010
Class E-1 [Member]
Nov. 22, 2011
Restricted Stock [Member]
E-1 Equity Award [Member]
Class E-1 [Member]
Jun. 30, 2010
Restricted Stock [Member]
E-1 Equity Award [Member]
Class E-1 [Member]
Shareholders' Equity and Net Income Per Share [Line Items]
 
 
 
 
 
 
 
 
 
 
 
 
 
Formation of PLC
 
May 19, 2011 
 
 
 
 
 
 
 
 
 
 
 
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 
 
 
 
 
 
 
 
 
 
Membership Interests Outstanding
 
 
 
 
 
 
1,750,000 
344,495 
354,500 
100,000 
24,000 
 
24,000 
Class B Exchange For Ordinary Shares
 
 
 
326,306,261 
 
 
 
 
 
 
 
 
 
Class E-1 Exchange for Ordinary Shares
 
 
 
 
 
 
 
 
 
 
 
1,938,249 
 
Acquisition Date
 
 
Oct. 06, 2009 
 
 
 
 
 
 
 
 
 
 
Redemption of Class A and C Membership Interests
Mar. 31, 2011 
 
 
 
 
 
 
 
 
 
 
 
 
Shareholders' Equity And Net Income Per Share Net Income Per Share-Weighted Average Shares (Details) (USD $)
In Millions, except Share data, unless otherwise specified
3 Months Ended 11 Months Ended 12 Months Ended
Mar. 31, 2011
Nov. 22, 2011
Dec. 31, 2011
Jun. 30, 2010
Class E-1 [Member]
Shareholders' Equity and Net Income Per Share [Line Items]
 
 
 
 
Initial Offering Period
 
November 22, 2011 
 
 
Ordinary Shares After Exchange
 
328,244,510 
 
 
Membership Interests Redeemed or Called During Period Value
$ 4,565 
 
 
 
Class B Membership Interests Repurchased
 
 
10,005 
 
Amount Paid for Redemption of B Membership Interests
 
 
$ 180 
 
Membership Interests Outstanding
 
 
 
24,000 
Shareholders' Equity And Net Income Per Share Weighted Average Shares Outstanding Retroactive Basis (Details)
In Millions, unless otherwise specified
3 Months Ended 12 Months Ended
Dec. 31, 2013
Sep. 30, 2013
Jun. 30, 2013
Mar. 31, 2013
Dec. 31, 2012
Sep. 30, 2012
Jun. 30, 2012
Mar. 31, 2012
Dec. 31, 2013
Dec. 31, 2012
Dec. 31, 2011
Mar. 31, 2011
Shareholders' Equity and Net Income Per Share Note [Abstract]
 
 
 
 
 
 
 
 
 
 
 
 
Weighted average ordinary shares outstanding as result of the initial public offering
 
 
 
 
 
 
 
 
 
 
328.24 
 
Redemption of Class A & C membership interests (1)
 
 
 
 
 
 
 
 
 
 
86.11 1
 
Repurchase of Class B membership interests
 
 
 
 
 
 
 
 
 
 
6.91 
 
Weighted average ordinary shares outstanding for the period
307.08 
309.68 
311.93 
314.68 
316.80 
320.93 
325.87 
328.24 
310.82 
322.94 
421.26 
 
Percentage of A&C membership interests of total membership interests
 
 
 
 
 
 
 
 
 
 
 
51.00% 
Percentage of B & Other membership interests of total membership interests
 
 
 
 
 
 
 
 
 
 
 
49.00% 
Shareholders' Equity And Net Income Per Share Weighted Average Shares Outstanding and Net Income Per Share (Details) (USD $)
In Millions, except Per Share data, unless otherwise specified
3 Months Ended 12 Months Ended
Dec. 31, 2013
Sep. 30, 2013
Jun. 30, 2013
Mar. 31, 2013
Dec. 31, 2012
Sep. 30, 2012
Jun. 30, 2012
Mar. 31, 2012
Dec. 31, 2013
Dec. 31, 2012
Dec. 31, 2011
Shareholders' Equity and Net Income Per Share Note [Abstract]
 
 
 
 
 
 
 
 
 
 
 
Net income attributable to Delphi
$ 298 
$ 271 
$ 367 
$ 276 
$ 136 
$ 269 
$ 330 
$ 342 
$ 1,212 
$ 1,077 
$ 1,145 
Weighted average number of basic shares outstanding
307.08 
309.68 
311.93 
314.68 
316.80 
320.93 
325.87 
328.24 
310.82 
322.94 
421.26 
Diluted shares related to RSU's
 
 
 
 
 
 
 
 
0.98 
0.35 
0 
Weighted average ordinary shares outstanding, including dilutive shares
308.64 
310.62 
312.69 
315.36 
317.34 
321.28 
326.14 
328.47 
311.80 
323.29 
421.26 
Basic
$ 0.97 1
$ 0.88 1
$ 1.18 1
$ 0.88 1
$ 0.43 1
$ 0.84 1
$ 1.01 1
$ 1.04 1
$ 3.90 1
$ 3.34 1
$ 2.72 
Diluted
$ 0.97 1
$ 0.87 1
$ 1.17 1
$ 0.88 1
$ 0.43 1
$ 0.84 1
$ 1.01 1
$ 1.04 1
$ 3.89 1
$ 3.33 1
$ 2.72 
Anti-dilutive securities share impact
 
 
 
 
 
 
 
 
$ 0.00 
$ 3.15 
$ 1.86 
Shareholders' Equity And Net Income Per Share Share Repurchase Program (Details) (USD $)
In Millions, except Share data, unless otherwise specified
1 Months Ended 12 Months Ended 3 Months Ended
Jan. 31, 2014
Dec. 31, 2013
Dec. 31, 2012
Dec. 31, 2013
Share Repurchase Program January 2012 [Member]
Dec. 31, 2013
Share Repurchase Program September 2012 [Member]
Mar. 31, 2014
Share Repurchase Program January 2014 [Member]
Share Repurchase Program [Line Items]
 
 
 
 
 
 
Stock Repurchase Program, Authorized Amount
 
 
 
$ 300 
$ 750 
$ 1,000 
Stock Repurchased During Period, Shares
 
9,106,434 
13,421,742 
 
 
 
Stock Repurchased, Average Price
 
$ 50.14 
$ 30.02 
 
 
 
Stock Repurchased During Period, Value
 
457 
403 
 
 
 
Stock Repurchase Program, Remaining Authorized Repurchase Amount
$ 190 
 
 
 
 
 
Shareholders' Equity And Net Income Per Share Dividends (Details) (USD $)
In Millions, except Per Share data, unless otherwise specified
3 Months Ended 12 Months Ended
Mar. 31, 2014
Dec. 31, 2013
Sep. 30, 2013
Jun. 30, 2013
Mar. 31, 2013
Dec. 31, 2014
Dec. 31, 2013
Dec. 31, 2012
Dec. 31, 2011
Shareholders' Equity and Net Income Per Share Note [Abstract]
 
 
 
 
 
 
 
 
 
Cash dividends declared per share
$ 0.25 
$ 0.17 
$ 0.17 
$ 0.17 
$ 0.17 
$ 1.00 
$ 0.68 
$ 0 
$ 0 
Payments of Cash Dividends
 
$ 52 
$ 53 
$ 53 
$ 53 
 
$ 211 
 
 
Shareholders' Equity And Net Income Per Share Membership Interests (Details) (USD $)
In Millions, except Share data, unless otherwise specified
Dec. 31, 2013
Dec. 31, 2012
Dec. 31, 2011
Dec. 31, 2010
Oct. 6, 2009
Class A [Member]
Nov. 22, 2011
Class B [Member]
Oct. 6, 2009
Class B [Member]
Oct. 6, 2009
Class C [Member]
Jun. 30, 2010
Class E-1 [Member]
Dec. 31, 2013
Membership Interest [Member]
Dec. 31, 2012
Membership Interest [Member]
Dec. 31, 2011
Membership Interest [Member]
Dec. 31, 2010
Membership Interest [Member]
Dec. 31, 2013
Membership Interest [Member]
Class E-1 [Member]
Dec. 31, 2012
Membership Interest [Member]
Class E-1 [Member]
Dec. 31, 2011
Membership Interest [Member]
Class E-1 [Member]
Dec. 31, 2010
Membership Interest [Member]
Class E-1 [Member]
Dec. 31, 2013
Membership Interest [Member]
Class C [Member]
Dec. 31, 2012
Membership Interest [Member]
Class C [Member]
Dec. 31, 2011
Membership Interest [Member]
Class C [Member]
Dec. 31, 2010
Membership Interest [Member]
Class C [Member]
Dec. 31, 2013
Membership Interest [Member]
Class B [Member]
Dec. 31, 2012
Membership Interest [Member]
Class B [Member]
Dec. 31, 2011
Membership Interest [Member]
Class B [Member]
Dec. 31, 2010
Membership Interest [Member]
Class B [Member]
Dec. 31, 2013
Membership Interest [Member]
Class A [Member]
Dec. 31, 2012
Membership Interest [Member]
Class A [Member]
Dec. 31, 2011
Membership Interest [Member]
Class A [Member]
Dec. 31, 2010
Membership Interest [Member]
Class A [Member]
Shareholders' Equity and Net Income Per Share [Line Items]
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Membership Interests Outstanding
 
 
 
 
1,750,000 
344,495 
354,500 
100,000 
24,000 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Total shareholders' equity
$ 3,434 
$ 2,830 
$ 2,171 
$ 6,099 
 
 
 
 
 
$ 0 
$ 0 
$ 0 
$ 5,550 
$ 0 
$ 0 
$ 0 
$ 5 
$ 0 
$ 0 
$ 0 
$ 646 
$ 0 
$ 0 
$ 0 
$ 2,816 
$ 0 
$ 0 
$ 0 
$ 2,083 
Shareholders' Equity And Net Income Per Share Class A and C Membership Interests Redemption (Details) (USD $)
In Millions, except Share data, unless otherwise specified
3 Months Ended
Mar. 31, 2011
Oct. 6, 2009
Shareholders' Equity and Net Income Per Share [Line Items]
 
 
Class A and C Membership Interests RedemptionTransactionCosts
$ 180 
 
Redemption Amount for A&C Membership Interests Above Carrying Value
1,736 
 
Class A [Member]
 
 
Shareholders' Equity and Net Income Per Share [Line Items]
 
 
Membership Interests Outstanding
 
1,750,000 
Membership Interests, Redeemed
3,791 
 
Class C [Member]
 
 
Shareholders' Equity and Net Income Per Share [Line Items]
 
 
Membership Interests Outstanding
 
100,000 
Membership Interests, Redeemed
$ 594 
 
Shareholders' Equity And Net Income Per Share Class B Membership Interests Repurchase Program (Details) (USD $)
In Millions, except Share data, unless otherwise specified
12 Months Ended
Dec. 31, 2011
Shareholders' Equity and Net Income Per Share Note [Abstract]
 
Class B Membership Interests Repurchased
10,005 
Amount Paid for Redemption of B Membership Interests
$ 180 
Class B membership interests repurchased average price per share
$ 17,904 
Shareholders' Equity And Net Income Per Share Distribution (Details) (USD $)
In Millions, unless otherwise specified
12 Months Ended
Dec. 31, 2011
Shareholders' Equity and Net Income Per Share Note [Abstract]
 
Distributions to Delphi equity holders
$ 95 
Shareholders' Equity And Net Income Per Share Other (Details) (USD $)
3 Months Ended 11 Months Ended 12 Months Ended
Dec. 31, 2011
Nov. 22, 2011
Dec. 31, 2013
Unsecured Creditors Litigation [Member]
Pending Litigation [Member]
Dec. 31, 2013
Unsecured Creditors 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 
 
 
Distribution Percentage on First Tranche
3.70% 
 
 
 
Distribution Amount
$ 1,600,000,000 
 
 
 
Distribution Percentage Above First Payout Amount
3.40% 
 
 
 
Cumulative Distributions
 
 
 
7,200,000,000 
Loss Contingency, Damages Sought, Value Per Unit in Excess of Benchmark
 
 
32.50 
 
Loss Contingency, Damages Sought, Unit in Excess of Benchmark
 
 
67.50 
 
Loss Contingency, Range of Possible Loss, Maximum
 
 
$ 300,000,000 
 
Shareholders' Equity And Net Income Per Share Allocation of Net Income to Membership Interest Classes (Details) (USD $)
In Millions, unless otherwise specified
11 Months Ended
Nov. 22, 2011
Shareholders' Equity and Net Income Per Share [Line Items]
 
Net Income to Membership Interests
$ 1,035 
Class A [Member]
 
Shareholders' Equity and Net Income Per Share [Line Items]
 
Net Income to Membership Interests
76 
Class B [Member]
 
Shareholders' Equity and Net Income Per Share [Line Items]
 
Net Income to Membership Interests
930 
Class C [Member]
 
Shareholders' Equity and Net Income Per Share [Line Items]
 
Net Income to Membership Interests
25 
Class E-1 [Member]
 
Shareholders' Equity and Net Income Per Share [Line Items]
 
Net Income to Membership Interests
$ 4 
Changes in Accumulated Other Comprehensive Income Changes in Accumulated Other Comprehensive Income (Details) (USD $)
In Millions, unless otherwise specified
12 Months Ended
Dec. 31, 2013
Dec. 31, 2012
Dec. 31, 2011
Accumulated Other Comprehensive Income (Loss), Net of Tax [Roll Forward]
 
 
 
Accumulated other comprehensive income, beginning of period
$ (237)
$ (183)
 
Aggregate adjustment for the period
4 
(52)
(269)
Accumulated other comprehensive income, end of period
(237)
(237)
(183)
Foreign currency translation adjustments [Member]
 
 
 
Accumulated Other Comprehensive Income (Loss), Net of Tax [Roll Forward]
 
 
 
Accumulated other comprehensive income, beginning of period
(62)
(120)
(22)
Aggregate adjustment for the period
45 
58 
(98)
Accumulated other comprehensive income, end of period
(17)
(62)
(120)
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
0 
33 
40 
Tax effect of reclassification to income
5 
0 
17 
Accumulated Other Comprehensive Income (Loss), Net of Tax [Roll Forward]
 
 
 
Accumulated other comprehensive income, beginning of period
14 
(45)
53 
Other comprehensive income before reclassifications (net of tax effect)
(14)
57 
(69)
Reclassification to income (net of tax effect)
2 
2 
(29)
Accumulated other comprehensive income, end of period
2 
14 
(45)
Pension and postretirement plans [Member]
 
 
 
Accumulated Other Comprehensive Income (Loss) [Line Items]
 
 
 
Tax effect of current period changes in fair value
7 
57 
22 
Tax effect of reclassification to income
2 
0 
0 
Accumulated Other Comprehensive Income (Loss), Net of Tax [Roll Forward]
 
 
 
Accumulated other comprehensive income, beginning of period
(189)
(18)
59 
Other comprehensive income before reclassifications (net of tax effect)
(40)
(171)
(77)
Reclassification to income (net of tax effect)
7 
 
0 
Accumulated other comprehensive income, end of period
$ (222)
$ (189)
$ (18)
Changes in Accumulated Other Comprehensive Income AOCI Reclassifications (Details) (USD $)
In Millions, unless otherwise specified
3 Months Ended 12 Months Ended
Dec. 31, 2013
Sep. 30, 2013
Jun. 30, 2013
Mar. 31, 2013
Dec. 31, 2012
Sep. 30, 2012
Jun. 30, 2012
Mar. 31, 2012
Dec. 31, 2013
Dec. 31, 2012
Dec. 31, 2011
Accumulated Other Comprehensive Income (Loss) [Line Items]
 
 
 
 
 
 
 
 
 
 
 
Cost of Sales
$ (3,426)
$ (3,338)
$ (3,464)
$ (3,339)
$ (3,158)1
$ (3,058)1
$ (3,272)1
$ (3,373)1
$ (13,567)
$ (12,861)1
$ (13,386)
Other Income
 
 
 
 
 
 
 
 
7 
2 
20 
Income tax expense
 
 
 
 
 
 
 
 
256 
212 
305 
Net income attributable to noncontrolling interest
 
 
 
 
 
 
 
 
(89)
(83)
(78)
Net income attributable to Delphi
298 
271 
367 
276 
136 
269 
330 
342 
1,212 
1,077 
1,145 
Amount reclassified from accumulated other comprehensive income [Member]
 
 
 
 
 
 
 
 
 
 
 
Accumulated Other Comprehensive Income (Loss) [Line Items]
 
 
 
 
 
 
 
 
 
 
 
Net income attributable to Delphi
 
 
 
 
 
 
 
 
(9)
 
 
Amount reclassified from accumulated other comprehensive income [Member] |
Unrealized gains (losses) on derivatives [Member]
 
 
 
 
 
 
 
 
 
 
 
Accumulated Other Comprehensive Income (Loss) [Line Items]
 
 
 
 
 
 
 
 
 
 
 
Total (loss) income before income taxes
 
 
 
 
 
 
 
 
3 
 
 
Income tax expense
 
 
 
 
 
 
 
 
5 
 
 
Net (loss) income
 
 
 
 
 
 
 
 
(2)
 
 
Net income attributable to noncontrolling interest
 
 
 
 
 
 
 
 
0 
 
 
Net income attributable to Delphi
 
 
 
 
 
 
 
 
(2)
 
 
Amount reclassified from accumulated other comprehensive income [Member] |
Unrealized gains (losses) on derivatives [Member] |
Commodity Derivative [Member]
 
 
 
 
 
 
 
 
 
 
 
Accumulated Other Comprehensive Income (Loss) [Line Items]
 
 
 
 
 
 
 
 
 
 
 
Cost of Sales
 
 
 
 
 
 
 
 
(22)
 
 
Amount reclassified from accumulated other comprehensive income [Member] |
Unrealized gains (losses) on derivatives [Member] |
Foreign Currency Derivative [Member]
 
 
 
 
 
 
 
 
 
 
 
Accumulated Other Comprehensive Income (Loss) [Line Items]
 
 
 
 
 
 
 
 
 
 
 
Cost of Sales
 
 
 
 
 
 
 
 
23 
 
 
Other Income
 
 
 
 
 
 
 
 
2 
 
 
Amount reclassified from accumulated other comprehensive income [Member] |
Pension and postretirement plans [Member]
 
 
 
 
 
 
 
 
 
 
 
Accumulated Other Comprehensive Income (Loss) [Line Items]
 
 
 
 
 
 
 
 
 
 
 
Actuarial gains/(losses)
 
 
 
 
 
 
 
 
(9)2
 
 
Total (loss) income before income taxes
 
 
 
 
 
 
 
 
(9)
 
 
Income tax expense
 
 
 
 
 
 
 
 
(2)
 
 
Net (loss) income
 
 
 
 
 
 
 
 
(7)
 
 
Net income attributable to noncontrolling interest
 
 
 
 
 
 
 
 
0 
 
 
Net income attributable to Delphi
 
 
 
 
 
 
 
 
$ (7)
 
 
Derivatives And Hedging Activities Narrative (Details)
In Millions, unless otherwise specified
12 Months Ended 1 Months Ended 12 Months Ended
Dec. 31, 2013
USD ($)
Dec. 31, 2013
Cost of Sales [Member]
USD ($)
Dec. 31, 2012
Cost of Sales [Member]
USD ($)
Dec. 31, 2014
Scenario, Forecast [Member]
Cost of Sales [Member]
USD ($)
Dec. 31, 2014
Scenario, Forecast [Member]
Other Income [Member]
USD ($)
Jun. 30, 2012
Foreign Currency Derivative [Member]
Options Held [Member]
USD ($)
Dec. 31, 2012
Foreign Currency Derivative [Member]
Options Held [Member]
USD ($)
Jun. 30, 2013
Foreign Currency Derivative [Member]
Options Held [Member]
EUR (€)
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
 
 
 
 
 
 
 
 
Net derivative gains (losses) included in accumulated other comprehensive income, before tax
$ (4)
 
 
 
 
 
 
 
Net derivative gains (losses) included in accumulated other comprehensive income, net of tax
(2)
 
 
 
 
 
 
 
Loss expected to be reclassified into earnings
 
 
 
1 
(2)
 
 
 
Derivative Instruments, Gain Recognized in Income, Ineffective Portion and Amount Excluded from Effectiveness Testing
 
0 
1 
 
 
 
 
 
Notional amount of derivative
 
 
 
 
 
 
 
250 
Cost of derivative
 
 
 
 
 
9 
 
 
Derivative, Loss on Derivative
 
 
 
 
 
 
$ (3)
 
Derivatives And Hedging Activities Notional Amounts of Derivative Instruments (Details)
In Millions, unless otherwise specified
Sep. 30, 2013
USD ($)
Dec. 31, 2013
Copper [Member]
Forward Contracts [Member]
USD ($)
lb
Dec. 31, 2013
Aluminum, Primary [Member]
Forward Contracts [Member]
USD ($)
lb
Dec. 31, 2013
Aluminum, Secondary [Member]
Forward Contracts [Member]
USD ($)
lb
Dec. 31, 2013
Mexico, Pesos
Foreign Currency Derivative [Member]
Forward Contracts [Member]
USD ($)
Dec. 31, 2013
Mexico, Pesos
Foreign Currency Derivative [Member]
Forward Contracts [Member]
MXN ($)
Dec. 31, 2013
Euro Member Countries, Euro
Foreign Currency Derivative [Member]
Forward Contracts [Member]
USD ($)
Dec. 31, 2013
Euro Member Countries, Euro
Foreign Currency Derivative [Member]
Forward Contracts [Member]
EUR (€)
Dec. 31, 2013
Turkey, New Lira
Foreign Currency Derivative [Member]
Forward Contracts [Member]
USD ($)
Dec. 31, 2013
Turkey, New Lira
Foreign Currency Derivative [Member]
Forward Contracts [Member]
TRY (£)
Dec. 31, 2013
Poland, Zlotych
Foreign Currency Derivative [Member]
Forward Contracts [Member]
USD ($)
Dec. 31, 2013
Poland, Zlotych
Foreign Currency Derivative [Member]
Forward Contracts [Member]
PLN
Dec. 31, 2013
Brazil, Brazil Real
Foreign Currency Derivative [Member]
Forward Contracts [Member]
USD ($)
Dec. 31, 2013
Brazil, Brazil Real
Foreign Currency Derivative [Member]
Forward Contracts [Member]
BRL
Dec. 31, 2013
Hungary, Forint
Foreign Currency Derivative [Member]
Forward Contracts [Member]
USD ($)
Dec. 31, 2013
Hungary, Forint
Foreign Currency Derivative [Member]
Forward Contracts [Member]
HUF
Dec. 31, 2013
China, Yuan Renminbi
Foreign Currency Derivative [Member]
Forward Contracts [Member]
USD ($)
Dec. 31, 2013
China, Yuan Renminbi
Foreign Currency Derivative [Member]
Forward Contracts [Member]
CNY
Dec. 31, 2013
Romania, New Lei
Foreign Currency Derivative [Member]
Forward Contracts [Member]
USD ($)
Dec. 31, 2013
Romania, New Lei
Foreign Currency Derivative [Member]
Forward Contracts [Member]
RON
Derivative [Line Items]
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Additional Foreign Currency and Commodity Forward Contracts
$ 10 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Notional amount of derivative, nonmonetary
 
80,695,000 
37,263,000 
21,458,000 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Notional amount of derivative
 
$ 265 
$ 30 
$ 20 
$ 775 
$ 10,144 
$ 255 
€ 184 
$ 105 
£ 229 
$ 90 
 267 
$ 80 
 188 
$ 60 
 12,586 
$ 30 
 177 
$ 30 
 99 
Derivatives And Hedging Activities Fair Value of Derivative Instruments (Details) (USD $)
In Millions, unless otherwise specified
Dec. 31, 2013
Dec. 31, 2012
Derivatives, Fair Value [Line Items]
 
 
Derivative, Fair Value, Net
$ (2)
$ 14 
Designated as Hedging Instrument [Member]
 
 
Derivatives, Fair Value [Line Items]
 
 
Derivative asset, fair value, gross asset
29 
34 
Derivative liability, fair value, gross liability
31 
20 
Commodity Derivative [Member] |
Designated as Hedging Instrument [Member] |
Other Current Assets [Member]
 
 
Derivatives, Fair Value [Line Items]
 
 
Derivative asset, fair value, gross asset
2 
2 
Commodity Derivative [Member] |
Designated as Hedging Instrument [Member] |
Accrued Liabilities [Member]
 
 
Derivatives, Fair Value [Line Items]
 
 
Derivative liability, fair value, gross liability
9 
7 
Commodity Derivative [Member] |
Designated as Hedging Instrument [Member] |
Other Long-Term Assets [Member]
 
 
Derivatives, Fair Value [Line Items]
 
 
Derivative asset, fair value, gross asset
1 
1 
Commodity Derivative [Member] |
Designated as Hedging Instrument [Member] |
Other Long-Term Liabilities [Member]
 
 
Derivatives, Fair Value [Line Items]
 
 
Derivative liability, fair value, gross liability
2 
1 
Foreign Currency Derivative [Member] |
Designated as Hedging Instrument [Member] |
Other Current Assets [Member]
 
 
Derivatives, Fair Value [Line Items]
 
 
Derivative asset, fair value, gross asset
16 
24 
Derivative liability, fair value, gross liability
3 
5 
Derivative, Fair Value, Net
13 1
19 1
Foreign Currency Derivative [Member] |
Designated as Hedging Instrument [Member] |
Accrued Liabilities [Member]
 
 
Derivatives, Fair Value [Line Items]
 
 
Derivative asset, fair value, gross asset
3 
0 
Derivative liability, fair value, gross liability
10 
5 
Derivative, Fair Value, Net
(7)1
(5)1
Foreign Currency Derivative [Member] |
Designated as Hedging Instrument [Member] |
Other Long-Term Assets [Member]
 
 
Derivatives, Fair Value [Line Items]
 
 
Derivative asset, fair value, gross asset
5 
7 
Derivative liability, fair value, gross liability
1 
2 
Derivative, Fair Value, Net
4 1
5 1
Foreign Currency Derivative [Member] |
Designated as Hedging Instrument [Member] |
Other Long-Term Liabilities [Member]
 
 
Derivatives, Fair Value [Line Items]
 
 
Derivative liability, fair value, gross liability
6 
 
Derivative, Fair Value, Net
(4)1
 
Derivative Asset, Fair Value, Gross Liability
2 
 
Foreign Currency Derivative [Member] |
Not Designated as Hedging Instrument [Member]
 
 
Derivatives, Fair Value [Line Items]
 
 
Derivative Asset, Fair Value, Amount Not Offset Against Collateral
3 
 
Derivative Liability, Fair Value, Amount Not Offset Against Collateral
3 
 
Foreign Currency Derivative [Member] |
Not Designated as Hedging Instrument [Member] |
Other Current Assets [Member]
 
 
Derivatives, Fair Value [Line Items]
 
 
Derivative Asset, Fair Value, Amount Not Offset Against Collateral
3 
 
Derivative Liability, Fair Value, Amount Not Offset Against Collateral
3 
 
Derivative, Fair Value, Net
$ 0 1
 
Derivatives And Hedging Activities Effect of Derivative Instruments in Consolidated Statement of Operations (Details) (USD $)
In Millions, unless otherwise specified
12 Months Ended
Dec. 31, 2013
Designated as Hedging Instrument [Member]
Dec. 31, 2012
Designated as Hedging Instrument [Member]
Dec. 31, 2013
Not Designated as Hedging Instrument [Member]
Dec. 31, 2012
Not Designated as Hedging Instrument [Member]
Dec. 31, 2013
Commodity Derivative [Member]
Designated as Hedging Instrument [Member]
Dec. 31, 2012
Commodity Derivative [Member]
Designated as Hedging Instrument [Member]
Dec. 31, 2013
Commodity Derivative [Member]
Not Designated as Hedging Instrument [Member]
Dec. 31, 2012
Commodity Derivative [Member]
Not Designated as Hedging Instrument [Member]
Dec. 31, 2013
Foreign Currency Derivative [Member]
Designated as Hedging Instrument [Member]
Dec. 31, 2012
Foreign Currency Derivative [Member]
Designated as Hedging Instrument [Member]
Dec. 31, 2013
Foreign Currency Derivative [Member]
Not Designated as Hedging Instrument [Member]
Dec. 31, 2012
Foreign Currency Derivative [Member]
Not Designated as Hedging Instrument [Member]
Dec. 31, 2013
Cost of Sales [Member]
Dec. 31, 2012
Cost of Sales [Member]
Dec. 31, 2014
Scenario, Forecast [Member]
Cost of Sales [Member]
Dec. 31, 2014
Scenario, Forecast [Member]
Other Income [Member]
Derivative Instruments, Gain (Loss) [Line Items]
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Derivative, Loss on Derivative
 
 
 
$ (5)
 
 
 
$ 0 
 
 
 
$ (5)
 
 
 
 
Derivative Instruments, Loss Recognized in Other Comprehensive Income (Loss), Effective Portion
(14)
 
 
 
(25)
 
 
 
 
 
 
 
 
 
 
 
Derivative Instruments, Loss Reclassified from Accumulated OCI into Income, Effective Portion
 
(2)
 
 
(22)
(12)
 
 
 
 
 
 
 
 
 
 
Gain Reclassified from OCI into Income (Effective Portion)
3 
 
 
 
 
 
 
 
25 
10 
 
 
 
 
1 
(2)
Derivative Instruments, Gain Recognized in Other Comprehensive Income (Loss), Effective Portion
 
90 
 
 
 
11 
 
 
11 
79 
 
 
 
 
 
 
Derivative, Gain on Derivative
 
 
1 
 
 
 
0 
 
 
 
1 
 
 
 
 
 
Derivative Instruments, Gain Recognized in Income, Ineffective Portion and Amount Excluded from Effectiveness Testing
$ 0 
$ 1 
 
 
$ 0 
$ 0 
 
 
$ 0 
$ 1 
 
 
$ 0 
$ 1 
 
 
Fair Value Of Financial Instruments Narrative (Details) (USD $)
In Millions, unless otherwise specified
3 Months Ended 12 Months Ended
Dec. 31, 2012
Dec. 31, 2013
Dec. 31, 2012
Dec. 31, 2011
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
 
 
 
 
Derivative, Fair Value, Net
$ 14 
$ (2)
$ 14 
 
Total debt, recorded amount
2,464 
2,412 
2,464 
 
Impairment of Long-Lived Assets Held-for-use
15 
0 
15 
0 
Estimated Fair Value [Member]
 
 
 
 
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
 
 
 
 
Total of debt, fair value
2,557 
2,519 
2,557 
 
Significant Other Observable Inputs, Level 2 [Member]
 
 
 
 
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
 
 
 
 
Total of debt, fair value
$ 2,557 
$ 2,519 
$ 2,557 
 
Fair Value Of Financial Instruments Fair Value of Assets and Liabilities (Details) (Recurring Basis [Member], USD $)
In Millions, unless otherwise specified
Dec. 31, 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
$ 20 
$ 27 
Derivative liability, fair value, net
22 
13 
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
20 
27 
Derivative liability, fair value, net
22 
13 
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
3 
3 
Derivative liability, fair value, net
11 
8 
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
3 
3 
Derivative liability, fair value, net
11 
8 
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
17 
24 
Derivative liability, fair value, net
11 
5 
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
17 
24 
Derivative liability, fair value, net
11 
5 
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 (Details) (USD $)
In Millions, unless otherwise specified
12 Months Ended 0 Months Ended
Dec. 31, 2013
Dec. 31, 2012
Dec. 31, 2011
Dec. 31, 2013
Amended and Restated Credit Agreement [Member]
Dec. 31, 2011
Notes Payable, Other Payables [Member]
Old Notes [Member]
Dec. 31, 2011
Loans Payable [Member]
Tranche A, Due 2016 [Member]
Dec. 31, 2011
Loans Payable [Member]
Tranche B, Due 2017 [Member]
Oct. 26, 2012
Motorized Vehicle Division [Member]
Debt Instrument [Line Items]
 
 
 
 
 
 
 
 
Interest income
$ 14 
$ 17 
$ 31 
 
 
 
 
 
Costs associated with initial public offering
0 
0 
(44)
 
 
 
 
 
Impairment - investment in available-for-sale security
0 
0 
(6)
 
 
 
 
 
Loss on extinguishment of debt
(39)
(1)
(16)
(39)
 
 
 
 
Business Combination, Acquisition Related Costs
0 
(13)
0 
 
 
 
 
(13)
Other, net
7 
2 
20 
 
 
 
 
 
Other income, net
(18)
5 
(15)
 
 
 
 
 
Repayments of Debt
 
 
 
 
$ 57 
$ 47 
$ 177 
 
Acquisitions And Divestitures Acquisition of Motorized Vehicles Division of FCI (Details)
In Millions, unless otherwise specified
3 Months Ended 12 Months Ended 0 Months Ended 3 Months Ended 12 Months Ended 0 Months Ended 12 Months Ended
Dec. 31, 2013
USD ($)
Sep. 30, 2013
USD ($)
Jun. 30, 2013
USD ($)
Mar. 31, 2013
USD ($)
Dec. 31, 2012
USD ($)
Sep. 30, 2012
USD ($)
Jun. 30, 2012
USD ($)
Mar. 31, 2012
USD ($)
Dec. 31, 2013
USD ($)
Dec. 31, 2012
USD ($)
Dec. 31, 2011
USD ($)
Oct. 26, 2012
Motorized Vehicle Division [Member]
USD ($)
Oct. 26, 2012
Motorized Vehicle Division [Member]
EUR (€)
Dec. 31, 2013
Motorized Vehicle Division [Member]
Dec. 31, 2011
Motorized Vehicle Division [Member]
EUR (€)
Oct. 27, 2012
Motorized Vehicle Division [Member]
Oct. 11, 2012
Tranche A, Due 2016 [Member]
Motorized Vehicle Division [Member]
USD ($)
Dec. 31, 2011
Delphi Automotive LLP [Member]
Motorized Vehicle Division [Member]
Business Acquisition [Line Items]
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Business Acquisition, Percentage of Voting Interests Acquired
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
100.00% 
 
 
Purchase Price
 
 
 
 
 
 
 
 
 
 
 
$ 1,000 
€ 765 
 
 
 
 
 
Net sales
4,182 
4,017 
4,240 
4,024 
3,767 
3,663 
3,997 
4,092 
16,463 
15,519 
16,041 1
 
 
 
692 
 
 
 
Sales to Delphi, Percentage
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
12.00% 
Business Combination, Acquisition Related Costs
 
 
 
 
 
 
 
 
0 
13 
0 
13 
 
 
 
 
 
 
Line of Credit Facility, Increase, Additional Borrowings
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
$ 363 
 
Intangible Assets, Weighted Average Useful Life
 
 
 
 
 
 
 
 
 
 
 
 
 
12 years 
 
 
 
 
Acquisitions And Divestitures Acquisition of Motorized Vehicle Division of FCI Purchase Price Allocation (Details) (USD $)
In Millions, unless otherwise specified
Dec. 31, 2013
Dec. 31, 2012
Dec. 31, 2011
Oct. 26, 2012
Motorized Vehicle Division [Member]
Business Acquisition [Line Items]
 
 
 
 
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
496 
473 
8 
458 
Total purchase price allocation
 
 
 
$ 978 
Acquisitions And Divestitures Sale of Italian Thermal Special Application Business (Details) (USD $)
In Millions, unless otherwise specified
3 Months Ended 12 Months Ended 4 Months Ended 12 Months Ended
Dec. 31, 2013
Sep. 30, 2013
Jun. 30, 2013
Mar. 31, 2013
Dec. 31, 2012
Sep. 30, 2012
Jun. 30, 2012
Mar. 31, 2012
Dec. 31, 2013
Dec. 31, 2012
Dec. 31, 2011
Apr. 30, 2012
ITALY
Thermal Special Application [Member]
Dec. 31, 2012
ITALY
Thermal Special Application [Member]
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
 
 
 
 
 
 
 
 
 
 
 
 
 
Net sales
$ 4,182 
$ 4,017 
$ 4,240 
$ 4,024 
$ 3,767 
$ 3,663 
$ 3,997 
$ 4,092 
$ 16,463 
$ 15,519 
$ 16,041 1
$ 23 
 
Proceeds from Sale of Italian Thermal Business
 
 
 
 
 
 
 
 
 
 
 
14 
 
Disposal Group, Not Discontinued Operation, Gain (Loss) on Disposal
 
 
 
 
 
 
 
 
 
 
 
 
$ 4 
Acquisitions And Divestitures Purchase of Noncontrolling Interest in JV (Details) (Corporate Joint Venture [Member], USD $)
In Millions, unless otherwise specified
1 Months Ended
Feb. 29, 2012
Corporate Joint Venture [Member]
 
Consolidation, Less than Wholly Owned Subsidiary, Parent Ownership Interest, Effects of Changes, Net [Line Items]
 
Consolidation, Less than Wholly Owned Subsidiary, Parent Ownership Interest, Changes, Purchase of Interest by Parent
$ 16 
Acquisitions And Divestitures Acquisition of Manufacturer of Specialized Diesel Testing Equipment (Details) (USD $)
In Millions, unless otherwise specified
3 Months Ended
Dec. 31, 2013
Dec. 31, 2012
Dec. 31, 2011
Jun. 30, 2011
Diesel Testing Equipment [Member]
May 30, 2011
Diesel Testing Equipment [Member]
Business Acquisition [Line Items]
 
 
 
 
 
Purchase Price
 
 
 
$ 19 
 
Goodwill
$ 496 
$ 473 
$ 8 
 
$ 8 
Acquisitions And Divestitures Sale of Daesung Investment (Details) (Daesung Electric, Co., Ltd. [Member], USD $)
In Millions, unless otherwise specified
1 Months Ended 12 Months Ended
Jan. 31, 2011
Dec. 31, 2011
Daesung Electric, Co., Ltd. [Member]
 
 
Schedule of Equity Method Investments [Line Items]
 
 
Noncontrolling Interest, Ownership Percentage of Daesung
49.50% 
 
Proceeds from Sale of Equity Method Investments
$ 35 
 
Gain on Sale of Daesung
 
$ 8 
Acquisitions And Divestitures Other (Details) (USD $)
In Millions, unless otherwise specified
12 Months Ended 3 Months Ended
Dec. 31, 2013
Dec. 31, 2012
Dec. 31, 2011
Dec. 31, 2013
2012-2013 Restructuring Program [Member]
Dec. 31, 2013
Delphi Packard Electric Systems Co., LTD [Member]
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
 
 
 
 
 
Payments to Acquire Productive Assets
$ 682 
$ 705 
$ 630 
 
$ 174 
Proceeds from Sale of Buildings
 
 
 
20 
 
Gain (Loss) on Disposition of Property Plant Equipment
 
 
 
$ 11 
 
Share-Based Compensation Long Term Incentive Plan (Details) (USD $)
In Millions, except Share data, unless otherwise specified
12 Months Ended 0 Months Ended 1 Months Ended 0 Months Ended 3 Months Ended 11 Months Ended 12 Months Ended
Dec. 31, 2013
Dec. 31, 2012
Dec. 31, 2011
Dec. 31, 2013
PLC Long Term Incentive Plan [Member]
Dec. 31, 2012
PLC Long Term Incentive Plan [Member]
Nov. 22, 2011
PLC Long Term Incentive Plan [Member]
Feb. 15, 2012
PLC Long Term Incentive Plan [Member]
Minimum [Member]
Feb. 15, 2012
PLC Long Term Incentive Plan [Member]
Maximum [Member]
Apr. 25, 2013
PLC Long Term Incentive Plan [Member]
Restricted Stock Units (RSUs) [Member]
Apr. 24, 2013
PLC Long Term Incentive Plan [Member]
Restricted Stock Units (RSUs) [Member]
Jun. 14, 2012
PLC Long Term Incentive Plan [Member]
Restricted Stock Units (RSUs) [Member]
Jun. 13, 2012
PLC Long Term Incentive Plan [Member]
Restricted Stock Units (RSUs) [Member]
Feb. 28, 2013
PLC Long Term Incentive Plan [Member]
Restricted Stock Units (RSUs) [Member]
Feb. 15, 2012
PLC Long Term Incentive Plan [Member]
Restricted Stock Units (RSUs) [Member]
Nov. 22, 2011
PLC Long Term Incentive Plan [Member]
Restricted Stock Units (RSUs) [Member]
Mar. 31, 2013
PLC Long Term Incentive Plan [Member]
Restricted Stock Units (RSUs) [Member]
Mar. 31, 2012
PLC Long Term Incentive Plan [Member]
Restricted Stock Units (RSUs) [Member]
Nov. 22, 2011
PLC Long Term Incentive Plan [Member]
Restricted Stock Units (RSUs) [Member]
Dec. 31, 2013
PLC Long Term Incentive Plan [Member]
Restricted Stock Units (RSUs) [Member]
Dec. 31, 2012
PLC Long Term Incentive Plan [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 
 
 
 
1,526,000 
1,953,000 
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 RSU’s 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
 
 
 
46 
20 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
RSU Share-based Compensation Expense, Net of Tax
 
 
 
35 
15 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
RSU Awards, Total Compensation Cost Not yet Recognized
 
 
 
62 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
RSU Awards, Total Compensation Cost Not yet Recognized, Period for Recognition
 
 
 
1 year 9 months 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Taxes withheld and paid on employees' restricted share awards
$ 14 
$ 0 
$ 0 
$ 3 
$ 0 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
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% 
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsPerformanceCumulativeEarningsPerShareWeightingMetric
30.00% 2
 
Relative Total Shareholder Return (2)
20.00% 3
20.00% 3
Share-Based Compensation Summary of Activity for LTIP RSU's (Details) (PLC Long Term Incentive Plan [Member], USD $)
In Millions, except Share data, unless otherwise specified
0 Months Ended 1 Months Ended 3 Months Ended 11 Months Ended 12 Months Ended
Apr. 25, 2013
Jun. 14, 2012
Jun. 13, 2012
Feb. 15, 2012
Nov. 22, 2011
Feb. 28, 2013
Mar. 31, 2013
Mar. 31, 2012
Nov. 22, 2011
Dec. 31, 2013
Dec. 31, 2012
Dec. 31, 2011
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
 
 
 
 
 
 
 
 
 
 
 
 
LTIP Nonvested, Weighted Average Grant Date Fair Value
 
 
 
 
 
 
 
 
 
 
$ 31.09 
$ 19.90 
LTIP Grants in Period, Weighted Average Grant Date Fair Value
 
 
 
 
 
 
 
 
 
$ 41.72 
$ 31.08 
 
LTIP Vested in Period, Weighted Average Grant Date Fair Value
 
 
 
 
 
 
 
 
 
$ 29.26 
$ 19.90 
 
LTIP Shares, Forfeitures, Weighted Average Grant Date Fair Value
 
 
 
 
 
 
 
 
 
$ 34.55 
$ 30.81 
 
Restricted Stock Units (RSUs) [Member]
 
 
 
 
 
 
 
 
 
 
 
 
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
 
 
 
 
 
 
 
 
 
 
 
 
Fair Value of LTIP Grant Date Fair Value
$ 2 
$ 2 
 
 
 
 
$ 60 
$ 59 
$ 1 
 
 
 
LTIP Shares, Nonvested, Number
 
 
 
 
 
 
 
 
 
2,918,000 
1,899,000 
51,000 
LTIP Shares Granted
37,674 
64,459 
 
1,880,000 
51,003 
1,450,000 
 
 
 
1,526,000 
1,953,000 
 
LTIP RSU's, Vested in Period
 
 
(51,003)
 
 
 
 
 
 
(285,000)
(51,000)
 
LTIP Shares, Forfeited in Period
 
 
 
 
 
 
 
 
 
(222,000)
(54,000)
 
Share-Based Compensation 2010 Board of Managers Equity Award (Details) (USD $)
In Millions, except Share data, unless otherwise specified
0 Months Ended 12 Months Ended
Jun. 30, 2010
Class E-1 [Member]
Oct. 2, 2010
E-1 Equity Award [Member]
Restricted Stock [Member]
Dec. 31, 2011
E-1 Equity Award [Member]
Restricted Stock [Member]
Nov. 22, 2011
E-1 Equity Award [Member]
Restricted Stock [Member]
Class E-1 [Member]
Jun. 30, 2010
E-1 Equity Award [Member]
Restricted Stock [Member]
Class E-1 [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
 
 
 
 
 
Membership Interests Outstanding
24,000 
 
 
 
24,000 
Class E-1 Exchange for Ordinary Shares
 
 
 
1,938,249 
 
Fair Value of E-1 Grant Date Fair Value
 
$ 19 
 
 
 
Allocated Share-based Compensation Expense
 
 
14 
 
 
Allocated Share-based Compensation Expense, Net of Tax
 
 
$ 0 
 
 
Share-Based Compensation Value Creation Plan (Details) (USD $)
In Millions, except Share data, unless otherwise specified
0 Months Ended 12 Months Ended
Dec. 31, 2012
Dec. 31, 2013
Dec. 31, 2012
Dec. 31, 2011
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 
0 
Value Creation Plan [Member]
 
 
 
 
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
 
 
 
 
VCP Cash Paid
 
 
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
 
0 
140 
76 
VCP Compensation Expense Net of Tax
 
$ 0 
$ 112 
$ 61 
Supplemental Guarantor And Non-Guarantor Condensed Consolidating Financial Statements Statement of Operations (Details) (USD $)
In Millions, unless otherwise specified
3 Months Ended 12 Months Ended
Dec. 31, 2013
Sep. 30, 2013
Jun. 30, 2013
Mar. 31, 2013
Dec. 31, 2012
Sep. 30, 2012
Jun. 30, 2012
Mar. 31, 2012
Dec. 31, 2013
Dec. 31, 2012
Dec. 31, 2011
Net sales
$ 4,182 
$ 4,017 
$ 4,240 
$ 4,024 
$ 3,767 
$ 3,663 
$ 3,997 
$ 4,092 
$ 16,463 
$ 15,519 
$ 16,041 1
Cost of sales
3,426 
3,338 
3,464 
3,339 
3,158 2
3,058 2
3,272 2
3,373 2
13,567 
12,861 2
13,386 
Selling, general and administrative
 
 
 
 
 
 
 
 
963 
927 
901 
Amortization
 
 
 
 
 
 
 
 
104 
84 
79 
Restructuring
 
 
 
 
154 
 
 
 
145 
171 
31 
Total operating expenses
 
 
 
 
 
 
 
 
14,779 
14,043 
14,397 
Operating income
417 
387 
483 
397 
177 
367 
468 
464 
1,684 3
1,476 4
1,644 5
Interest expense
 
 
 
 
 
 
 
 
(143)
(136)
(123)
Other (expense) income, net
 
 
 
 
 
 
 
 
(18)
5 
(15)
Income before income taxes and equity income
 
 
 
 
 
 
 
 
1,523 
1,345 
1,506 
Income tax expense
 
 
 
 
 
 
 
 
(256)
(212)
(305)
Income before equity income
 
 
 
 
 
 
 
 
1,267 
1,133 
1,201 
Equity income, net of tax
 
 
 
 
 
 
 
 
34 
27 
22 
Net income
321 6
293 6
389 6
298 6
155 
292 
350 
363 
1,301 6
1,160 
1,223 
Net income attributable to noncontrolling interest
 
 
 
 
 
 
 
 
89 
83 
78 
Net income attributable to Delphi
298 
271 
367 
276 
136 
269 
330 
342 
1,212 
1,077 
1,145 
Parent [Member]
 
 
 
 
 
 
 
 
 
 
 
Net sales
 
 
 
 
 
 
 
 
0 
0 
0 
Cost of sales
 
 
 
 
 
 
 
 
0 
0 
0 
Selling, general and administrative
 
 
 
 
 
 
 
 
87 
222 
118 
Amortization
 
 
 
 
 
 
 
 
0 
0 
0 
Restructuring
 
 
 
 
 
 
 
 
0 
0 
0 
Total operating expenses
 
 
 
 
 
 
 
 
87 
222 
118 
Operating income
 
 
 
 
 
 
 
 
(87)
(222)
(118)
Interest expense
 
 
 
 
 
 
 
 
(51)
(72)
(37)
Other (expense) income, net
 
 
 
 
 
 
 
 
66 
58 
(38)
Income before income taxes and equity income
 
 
 
 
 
 
 
 
(72)
(236)
(193)
Income tax expense
 
 
 
 
 
 
 
 
(5)
(3)
3 
Income before equity income
 
 
 
 
 
 
 
 
(77)
(239)
(190)
Equity income, net of tax
 
 
 
 
 
 
 
 
0 
0 
0 
Equity in net income (loss) of subsidiaries
 
 
 
 
 
 
 
 
1,289 
1,316 
1,335 
Net income
 
 
 
 
 
 
 
 
1,212 
1,077 
1,145 
Net income attributable to noncontrolling interest
 
 
 
 
 
 
 
 
0 
0 
0 
Net income attributable to Delphi
 
 
 
 
 
 
 
 
1,212 
1,077 
1,145 
Subsidiary Issuer [Member]
 
 
 
 
 
 
 
 
 
 
 
Net sales
 
 
 
 
 
 
 
 
0 
0 
0 
Cost of sales
 
 
 
 
 
 
 
 
0 
0 
0 
Selling, general and administrative
 
 
 
 
 
 
 
 
0 
0 
0 
Amortization
 
 
 
 
 
 
 
 
0 
0 
0 
Restructuring
 
 
 
 
 
 
 
 
0 
0 
0 
Total operating expenses
 
 
 
 
 
 
 
 
0 
0 
0 
Operating income
 
 
 
 
 
 
 
 
0 
0 
0 
Interest expense
 
 
 
 
 
 
 
 
(194)
(180)
(101)
Other (expense) income, net
 
 
 
 
 
 
 
 
25 
97 
27 
Income before income taxes and equity income
 
 
 
 
 
 
 
 
(169)
(83)
(74)
Income tax expense
 
 
 
 
 
 
 
 
62 
31 
27 
Income before equity income
 
 
 
 
 
 
 
 
(107)
(52)
(47)
Equity income, net of tax
 
 
 
 
 
 
 
 
0 
0 
0 
Equity in net income (loss) of subsidiaries
 
 
 
 
 
 
 
 
326 
409 
121 
Net income
 
 
 
 
 
 
 
 
219 
357 
74 
Net income attributable to noncontrolling interest
 
 
 
 
 
 
 
 
0 
0 
0 
Net income attributable to Delphi
 
 
 
 
 
 
 
 
219 
357 
74 
Guarantor Subsidiaries [Member]
 
 
 
 
 
 
 
 
 
 
 
Net sales
 
 
 
 
 
 
 
 
5,446 
5,482 
5,292 
Cost of sales
 
 
 
 
 
 
 
 
4,725 
4,688 
4,754 
Selling, general and administrative
 
 
 
 
 
 
 
 
202 
124 
272 
Amortization
 
 
 
 
 
 
 
 
54 
54 
53 
Restructuring
 
 
 
 
 
 
 
 
16 
16 
3 
Total operating expenses
 
 
 
 
 
 
 
 
4,997 
4,882 
5,082 
Operating income
 
 
 
 
 
 
 
 
449 
600 
210 
Interest expense
 
 
 
 
 
 
 
 
(63)
(54)
(1)
Other (expense) income, net
 
 
 
 
 
 
 
 
1 
(1)
3 
Income before income taxes and equity income
 
 
 
 
 
 
 
 
387 
545 
212 
Income tax expense
 
 
 
 
 
 
 
 
(101)
(140)
(91)
Income before equity income
 
 
 
 
 
 
 
 
286 
405 
121 
Equity income, net of tax
 
 
 
 
 
 
 
 
0 
0 
0 
Equity in net income (loss) of subsidiaries
 
 
 
 
 
 
 
 
0 
0 
0 
Net income
 
 
 
 
 
 
 
 
286 
405 
121 
Net income attributable to noncontrolling interest
 
 
 
 
 
 
 
 
0 
0 
0 
Net income attributable to Delphi
 
 
 
 
 
 
 
 
286 
405 
121 
Non-Guarantor Subsidiaries [Member]
 
 
 
 
 
 
 
 
 
 
 
Net sales
 
 
 
 
 
 
 
 
12,355 
11,467 
12,225 
Cost of sales
 
 
 
 
 
 
 
 
10,204 
9,632 
10,124 
Selling, general and administrative
 
 
 
 
 
 
 
 
673 
583 
511 
Amortization
 
 
 
 
 
 
 
 
50 
30 
26 
Restructuring
 
 
 
 
 
 
 
 
129 
155 
28 
Total operating expenses
 
 
 
 
 
 
 
 
11,056 
10,400 
10,689 
Operating income
 
 
 
 
 
 
 
 
1,299 
1,067 
1,536 
Interest expense
 
 
 
 
 
 
 
 
(12)
(14)
(26)
Other (expense) income, net
 
 
 
 
 
 
 
 
67 
35 
36 
Income before income taxes and equity income
 
 
 
 
 
 
 
 
1,354 
1,088 
1,546 
Income tax expense
 
 
 
 
 
 
 
 
(206)
(94)
(238)
Income before equity income
 
 
 
 
 
 
 
 
1,148 
994 
1,308 
Equity income, net of tax
 
 
 
 
 
 
 
 
34 
27 
22 
Equity in net income (loss) of subsidiaries
 
 
 
 
 
 
 
 
0 
0 
0 
Net income
 
 
 
 
 
 
 
 
1,182 
1,021 
1,330 
Net income attributable to noncontrolling interest
 
 
 
 
 
 
 
 
89 
83 
78 
Net income attributable to Delphi
 
 
 
 
 
 
 
 
1,093 
938 
1,252 
Intersegment Elimination [Member]
 
 
 
 
 
 
 
 
 
 
 
Net sales
 
 
 
 
 
 
 
 
(1,338)
(1,430)
(1,476)
Cost of sales
 
 
 
 
 
 
 
 
(1,362)
(1,459)
(1,492)
Selling, general and administrative
 
 
 
 
 
 
 
 
1 
(2)
0 
Amortization
 
 
 
 
 
 
 
 
0 
0 
0 
Restructuring
 
 
 
 
 
 
 
 
0 
0 
0 
Total operating expenses
 
 
 
 
 
 
 
 
(1,361)
(1,461)
(1,492)
Operating income
 
 
 
 
 
 
 
 
23 
31 
16 
Interest expense
 
 
 
 
 
 
 
 
177 
184 
42 
Other (expense) income, net
 
 
 
 
 
 
 
 
(177)
(184)
(43)
Income before income taxes and equity income
 
 
 
 
 
 
 
 
23 
31 
15 
Income tax expense
 
 
 
 
 
 
 
 
(6)
(6)
(6)
Income before equity income
 
 
 
 
 
 
 
 
17 
25 
9 
Equity income, net of tax
 
 
 
 
 
 
 
 
0 
0 
0 
Equity in net income (loss) of subsidiaries
 
 
 
 
 
 
 
 
(1,615)
(1,725)
(1,456)
Net income
 
 
 
 
 
 
 
 
(1,598)
(1,700)
(1,447)
Net income attributable to noncontrolling interest
 
 
 
 
 
 
 
 
0 
0 
0 
Net income attributable to Delphi
 
 
 
 
 
 
 
 
(1,598)
(1,700)
(1,447)
Consolidated Entities [Member]
 
 
 
 
 
 
 
 
 
 
 
Net sales
 
 
 
 
 
 
 
 
16,463 
15,519 
16,041 
Cost of sales
 
 
 
 
 
 
 
 
13,567 
12,861 
13,386 
Selling, general and administrative
 
 
 
 
 
 
 
 
963 
927 
901 
Amortization
 
 
 
 
 
 
 
 
104 
84 
79 
Restructuring
 
 
 
 
 
 
 
 
145 
171 
31 
Total operating expenses
 
 
 
 
 
 
 
 
14,779 
14,043 
14,397 
Operating income
 
 
 
 
 
 
 
 
1,684 
1,476 
1,644 
Interest expense
 
 
 
 
 
 
 
 
(143)
(136)
(123)
Other (expense) income, net
 
 
 
 
 
 
 
 
(18)
5 
(15)
Income before income taxes and equity income
 
 
 
 
 
 
 
 
1,523 
1,345 
1,506 
Income tax expense
 
 
 
 
 
 
 
 
(256)
(212)
(305)
Income before equity income
 
 
 
 
 
 
 
 
1,267 
1,133 
1,201 
Equity income, net of tax
 
 
 
 
 
 
 
 
34 
27 
22 
Equity in net income (loss) of subsidiaries
 
 
 
 
 
 
 
 
0 
0 
0 
Net income
 
 
 
 
 
 
 
 
1,301 
1,160 
1,223 
Net income attributable to noncontrolling interest
 
 
 
 
 
 
 
 
89 
83 
78 
Net income attributable to Delphi
 
 
 
 
 
 
 
 
$ 1,212 
$ 1,077 
$ 1,145 
Supplemental Guarantor And Non-Guarantor Condensed Consolidating Financial Statements Statement of Comprehensive Income (Details) (USD $)
In Millions, unless otherwise specified
3 Months Ended 12 Months Ended
Dec. 31, 2013
Sep. 30, 2013
Jun. 30, 2013
Mar. 31, 2013
Dec. 31, 2012
Sep. 30, 2012
Jun. 30, 2012
Mar. 31, 2012
Dec. 31, 2013
Dec. 31, 2012
Dec. 31, 2011
Net income
$ 321 1
$ 293 1
$ 389 1
$ 298 1
$ 155 
$ 292 
$ 350 
$ 363 
$ 1,301 1
$ 1,160 
$ 1,223 
Other Comprehensive Income (Loss), Foreign Currency Transaction and Translation Adjustment, Net of Tax
 
 
 
 
 
 
 
 
49 
60 
(94)
Net change in unrecognized (loss) gain on derivative instruments, net of tax (Note 17)
 
 
 
 
 
 
 
 
(12)
59 
(98)
Other Comprehensive Income (Loss), Pension and Other Postretirement Benefit Plans, Adjustment, Net of Tax
 
 
 
 
 
 
 
 
(33)
(171)
(77)
Other comprehensive income (loss)
 
 
 
 
 
 
 
 
4 
(52)
(269)
Comprehensive income
 
 
 
 
 
 
 
 
1,305 
1,108 
954 
Comprehensive Income (Loss), Net of Tax, Attributable to Noncontrolling Interest
 
 
 
 
 
 
 
 
93 
85 
83 
Comprehensive income attributable to Delphi
 
 
 
 
 
 
 
 
1,212 
1,023 
871 
Parent [Member]
 
 
 
 
 
 
 
 
 
 
 
Net income
 
 
 
 
 
 
 
 
1,212 
1,077 
1,145 
Other Comprehensive Income (Loss), Foreign Currency Transaction and Translation Adjustment, Net of Tax
 
 
 
 
 
 
 
 
0 
0 
0 
Net change in unrecognized (loss) gain on derivative instruments, net of tax (Note 17)
 
 
 
 
 
 
 
 
0 
0 
0 
Other Comprehensive Income (Loss), Pension and Other Postretirement Benefit Plans, Adjustment, Net of Tax
 
 
 
 
 
 
 
 
0 
0 
0 
Other comprehensive income (loss)
 
 
 
 
 
 
 
 
0 
0 
0 
Equity In Other Comprhensive Loss Income of Subsidiaries Net Of Tax
 
 
 
 
 
 
 
 
0 
(54)
(274)
Comprehensive income
 
 
 
 
 
 
 
 
1,212 
1,023 
871 
Comprehensive Income (Loss), Net of Tax, Attributable to Noncontrolling Interest
 
 
 
 
 
 
 
 
0 
0 
0 
Comprehensive income attributable to Delphi
 
 
 
 
 
 
 
 
1,212 
1,023 
871 
Subsidiary Issuer [Member]
 
 
 
 
 
 
 
 
 
 
 
Net income
 
 
 
 
 
 
 
 
219 
357 
74 
Other Comprehensive Income (Loss), Foreign Currency Transaction and Translation Adjustment, Net of Tax
 
 
 
 
 
 
 
 
0 
0 
0 
Net change in unrecognized (loss) gain on derivative instruments, net of tax (Note 17)
 
 
 
 
 
 
 
 
0 
0 
0 
Other Comprehensive Income (Loss), Pension and Other Postretirement Benefit Plans, Adjustment, Net of Tax
 
 
 
 
 
 
 
 
0 
0 
0 
Other comprehensive income (loss)
 
 
 
 
 
 
 
 
0 
0 
0 
Equity In Other Comprhensive Loss Income of Subsidiaries Net Of Tax
 
 
 
 
 
 
 
 
(13)
54 
(102)
Comprehensive income
 
 
 
 
 
 
 
 
206 
411 
(28)
Comprehensive Income (Loss), Net of Tax, Attributable to Noncontrolling Interest
 
 
 
 
 
 
 
 
0 
0 
0 
Comprehensive income attributable to Delphi
 
 
 
 
 
 
 
 
206 
411 
(28)
Guarantor Subsidiaries [Member]
 
 
 
 
 
 
 
 
 
 
 
Net income
 
 
 
 
 
 
 
 
286 
405 
121 
Other Comprehensive Income (Loss), Foreign Currency Transaction and Translation Adjustment, Net of Tax
 
 
 
 
 
 
 
 
0 
0 
0 
Net change in unrecognized (loss) gain on derivative instruments, net of tax (Note 17)
 
 
 
 
 
 
 
 
(18)
58 
(98)
Other Comprehensive Income (Loss), Pension and Other Postretirement Benefit Plans, Adjustment, Net of Tax
 
 
 
 
 
 
 
 
5 
(4)
(4)
Other comprehensive income (loss)
 
 
 
 
 
 
 
 
(13)
54 
(102)
Equity In Other Comprhensive Loss Income of Subsidiaries Net Of Tax
 
 
 
 
 
 
 
 
0 
0 
0 
Comprehensive income
 
 
 
 
 
 
 
 
273 
459 
19 
Comprehensive Income (Loss), Net of Tax, Attributable to Noncontrolling Interest
 
 
 
 
 
 
 
 
0 
0 
0 
Comprehensive income attributable to Delphi
 
 
 
 
 
 
 
 
273 
459 
19 
Non-Guarantor Subsidiaries [Member]
 
 
 
 
 
 
 
 
 
 
 
Net income
 
 
 
 
 
 
 
 
1,182 
1,021 
1,330 
Other Comprehensive Income (Loss), Foreign Currency Transaction and Translation Adjustment, Net of Tax
 
 
 
 
 
 
 
 
49 
60 
(94)
Net change in unrecognized (loss) gain on derivative instruments, net of tax (Note 17)
 
 
 
 
 
 
 
 
6 
1 
0 
Other Comprehensive Income (Loss), Pension and Other Postretirement Benefit Plans, Adjustment, Net of Tax
 
 
 
 
 
 
 
 
(38)
(167)
(73)
Other comprehensive income (loss)
 
 
 
 
 
 
 
 
17 
(106)
(167)
Equity In Other Comprhensive Loss Income of Subsidiaries Net Of Tax
 
 
 
 
 
 
 
 
0 
0 
0 
Comprehensive income
 
 
 
 
 
 
 
 
1,199 
915 
1,163 
Comprehensive Income (Loss), Net of Tax, Attributable to Noncontrolling Interest
 
 
 
 
 
 
 
 
93 
85 
83 
Comprehensive income attributable to Delphi
 
 
 
 
 
 
 
 
1,106 
830 
1,080 
Intersegment Elimination [Member]
 
 
 
 
 
 
 
 
 
 
 
Net income
 
 
 
 
 
 
 
 
(1,598)
(1,700)
(1,447)
Other Comprehensive Income (Loss), Foreign Currency Transaction and Translation Adjustment, Net of Tax
 
 
 
 
 
 
 
 
0 
0 
0 
Net change in unrecognized (loss) gain on derivative instruments, net of tax (Note 17)
 
 
 
 
 
 
 
 
0 
0 
0 
Other Comprehensive Income (Loss), Pension and Other Postretirement Benefit Plans, Adjustment, Net of Tax
 
 
 
 
 
 
 
 
0 
0 
0 
Other comprehensive income (loss)
 
 
 
 
 
 
 
 
0 
0 
0 
Equity In Other Comprhensive Loss Income of Subsidiaries Net Of Tax
 
 
 
 
 
 
 
 
13 
0 
376 
Comprehensive income
 
 
 
 
 
 
 
 
(1,585)
(1,700)
(1,071)
Comprehensive Income (Loss), Net of Tax, Attributable to Noncontrolling Interest
 
 
 
 
 
 
 
 
0 
0 
0 
Comprehensive income attributable to Delphi
 
 
 
 
 
 
 
 
(1,585)
(1,700)
(1,071)
Consolidated Entities [Member]
 
 
 
 
 
 
 
 
 
 
 
Net income
 
 
 
 
 
 
 
 
1,301 
1,160 
1,223 
Other Comprehensive Income (Loss), Foreign Currency Transaction and Translation Adjustment, Net of Tax
 
 
 
 
 
 
 
 
49 
60 
(94)
Net change in unrecognized (loss) gain on derivative instruments, net of tax (Note 17)
 
 
 
 
 
 
 
 
(12)
59 
(98)
Other Comprehensive Income (Loss), Pension and Other Postretirement Benefit Plans, Adjustment, Net of Tax
 
 
 
 
 
 
 
 
(33)
(171)
(77)
Other comprehensive income (loss)
 
 
 
 
 
 
 
 
4 
(52)
(269)
Equity In Other Comprhensive Loss Income of Subsidiaries Net Of Tax
 
 
 
 
 
 
 
 
0 
0 
0 
Comprehensive income
 
 
 
 
 
 
 
 
1,305 
1,108 
954 
Comprehensive Income (Loss), Net of Tax, Attributable to Noncontrolling Interest
 
 
 
 
 
 
 
 
93 
85 
83 
Comprehensive income attributable to Delphi
 
 
 
 
 
 
 
 
$ 1,212 
$ 1,023 
$ 871 
Supplemental Guarantor And Non-Guarantor Condensed Consolidating Financial Statements Balance Sheet (Details) (USD $)
In Millions, unless otherwise specified
Dec. 31, 2013
Dec. 31, 2012
Dec. 31, 2011
Dec. 31, 2010
Cash and Cash Equivalents, at Carrying Value
$ 1,389 
$ 1,105 
$ 1,363 
$ 3,219 
Restricted cash
4 
8 
 
 
Accounts Receivable, Net, Current
2,662 
2,425 
 
 
Inventories
1,093 
1,066 
 
 
Other Assets, Current
604 
623 
 
 
Total current assets
5,752 
5,227 
 
 
Property Plant & Equipment, net
3,216 1
2,860 1
2,315 1
 
Equity Method Investments
234 
231 
 
 
Intangible assets, net
1,219 
1,276 
 
 
Other Assets, Noncurrent
626 
582 
 
 
Total long-term assets
5,295 
4,949 
 
 
Total assets
11,047 
10,176 
 
 
Short-term Debt
61 
140 
 
 
Accounts Payable, Current
2,595 
2,278 
 
 
Accrued Liabilities, Current
1,238 
1,241 
 
 
Total current liabilities
3,894 
3,659 
 
 
Long-term Debt, Excluding Current Maturities
2,351 
2,324 
 
 
Pension benefit obligations
959 
929 
 
 
Other Liabilities, Noncurrent
409 
434 
 
 
Total long-term liabilities
3,719 
3,687 
 
 
Total liabilities
7,613 
7,346 
 
 
Stockholders' Equity Attributable to Parent
2,911 
2,345 
 
 
Noncontrolling interest
523 
485 
 
 
Total shareholders' equity
3,434 
2,830 
2,171 
6,099 
Total liabilities and shareholders' equity
11,047 
10,176 
 
 
Parent [Member]
 
 
 
 
Cash and Cash Equivalents, at Carrying Value
7 
2 
53 
6 
Restricted cash
0 
0 
 
 
Accounts Receivable, Net, Current
0 
0 
 
 
Inventories
0 
0 
 
 
Other Assets, Current
1 
0 
 
 
Total current assets
8 
2 
 
 
Property Plant & Equipment, net
0 
0 
 
 
Equity Method Investments
0 
0 
 
 
Investments in Subsidiaries
5,181 
3,987 
 
 
Intangible assets, net
0 
0 
 
 
Other Assets, Noncurrent
0 
0 
 
 
Total long-term assets
5,181 
3,987 
 
 
Total assets
5,189 
3,989 
 
 
Short-term Debt
0 
0 
 
 
Accounts Payable, Current
0 
0 
 
 
Accrued Liabilities, Current
0 
0 
 
 
Total current liabilities
0 
0 
 
 
Long-term Debt, Excluding Current Maturities
0 
0 
 
 
Intercompany acccounts, net
2,278 
1,644 
 
 
Pension benefit obligations
0 
0 
 
 
Other Liabilities, Noncurrent
0 
0 
 
 
Total long-term liabilities
2,278 
1,644 
 
 
Total liabilities
2,278 
1,644 
 
 
Stockholders' Equity Attributable to Parent
2,911 
2,345 
 
 
Noncontrolling interest
0 
0 
 
 
Total shareholders' equity
2,911 
2,345 
 
 
Total liabilities and shareholders' equity
5,189 
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
0 
0 
 
 
Other Assets, Current
10 
17 
 
 
Total current assets
10 
17 
 
 
Property Plant & Equipment, net
0 
0 
 
 
Equity Method Investments
0 
0 
 
 
Investments in Subsidiaries
1,130 
1,663 
 
 
Intangible assets, net
0 
0 
 
 
Other Assets, Noncurrent
43 
55 
 
 
Total long-term assets
1,173 
1,718 
 
 
Total assets
1,183 
1,735 
 
 
Short-term Debt
25 
31 
 
 
Accounts Payable, Current
0 
0 
 
 
Accrued Liabilities, Current
23 
10 
 
 
Total current liabilities
48 
41 
 
 
Long-term Debt, Excluding Current Maturities
2,339 
2,308 
 
 
Intercompany acccounts, net
(1,236)
(537)
 
 
Pension benefit obligations
0 
0 
 
 
Other Liabilities, Noncurrent
0 
0 
 
 
Total long-term liabilities
1,103 
1,771 
 
 
Total liabilities
1,151 
1,812 
 
 
Stockholders' Equity Attributable to Parent
32 
(77)
 
 
Noncontrolling interest
0 
0 
 
 
Total shareholders' equity
32 
(77)
 
 
Total liabilities and shareholders' equity
1,183 
1,735 
 
 
Guarantor Subsidiaries [Member]
 
 
 
 
Cash and Cash Equivalents, at Carrying Value
295 
118 
186 
2,010 
Restricted cash
0 
0 
 
 
Accounts Receivable, Net, Current
673 
641 
 
 
Inventories
332 
308 
 
 
Other Assets, Current
147 
141 
 
 
Total current assets
1,447 
1,208 
 
 
Property Plant & Equipment, net
670 
592 
 
 
Equity Method Investments
0 
0 
 
 
Investments in Subsidiaries
0 
0 
 
 
Intangible assets, net
343 
390 
 
 
Other Assets, Noncurrent
40 
44 
 
 
Total long-term assets
1,053 
1,026 
 
 
Total assets
2,500 
2,234 
 
 
Short-term Debt
23 
23 
 
 
Accounts Payable, Current
651 
578 
 
 
Accrued Liabilities, Current
196 
221 
 
 
Total current liabilities
870 
822 
 
 
Long-term Debt, Excluding Current Maturities
1 
2 
 
 
Intercompany acccounts, net
685 
755 
 
 
Pension benefit obligations
61 
73 
 
 
Other Liabilities, Noncurrent
178 
192 
 
 
Total long-term liabilities
925 
1,022 
 
 
Total liabilities
1,795 
1,844 
 
 
Stockholders' Equity Attributable to Parent
705 
390 
 
 
Noncontrolling interest
0 
0 
 
 
Total shareholders' equity
705 
390 
 
 
Total liabilities and shareholders' equity
2,500 
2,234 
 
 
Non-Guarantor Subsidiaries [Member]
 
 
 
 
Cash and Cash Equivalents, at Carrying Value
1,087 
985 
1,124 
1,203 
Restricted cash
4 
8 
 
 
Accounts Receivable, Net, Current
1,989 
1,784 
 
 
Inventories
770 
764 
 
 
Other Assets, Current
453 
465 
 
 
Total current assets
4,303 
4,006 
 
 
Property Plant & Equipment, net
2,546 
2,268 
 
 
Equity Method Investments
234 
231 
 
 
Investments in Subsidiaries
0 
0 
 
 
Intangible assets, net
876 
886 
 
 
Other Assets, Noncurrent
541 
481 
 
 
Total long-term assets
4,197 
3,866 
 
 
Total assets
8,500 
7,872 
 
 
Short-term Debt
13 
86 
 
 
Accounts Payable, Current
1,944 
1,700 
 
 
Accrued Liabilities, Current
1,026 
1,010 
 
 
Total current liabilities
2,983 
2,796 
 
 
Long-term Debt, Excluding Current Maturities
11 
14 
 
 
Intercompany acccounts, net
(1,727)
(1,862)
 
 
Pension benefit obligations
898 
856 
 
 
Other Liabilities, Noncurrent
231 
242 
 
 
Total long-term liabilities
(587)
(750)
 
 
Total liabilities
2,396 
2,046 
 
 
Stockholders' Equity Attributable to Parent
5,581 
5,341 
 
 
Noncontrolling interest
523 
485 
 
 
Total shareholders' equity
6,104 
5,826 
 
 
Total liabilities and shareholders' equity
8,500 
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
(9)
(6)
 
 
Other Assets, Current
(7)
0 
 
 
Total current assets
(16)
(6)
 
 
Property Plant & Equipment, net
0 
0 
 
 
Equity Method Investments
0 
0 
 
 
Investments in Subsidiaries
(6,311)
(5,650)
 
 
Intangible assets, net
0 
0 
 
 
Other Assets, Noncurrent
2 
2 
 
 
Total long-term assets
(6,309)
(5,648)
 
 
Total assets
(6,325)
(5,654)
 
 
Short-term Debt
0 
0 
 
 
Accounts Payable, Current
0 
0 
 
 
Accrued Liabilities, Current
(7)
0 
 
 
Total current liabilities
(7)
0 
 
 
Long-term Debt, Excluding Current Maturities
0 
0 
 
 
Intercompany acccounts, net
0 
0 
 
 
Pension benefit obligations
0 
0 
 
 
Other Liabilities, Noncurrent
0 
0 
 
 
Total long-term liabilities
0 
0 
 
 
Total liabilities
(7)
0 
 
 
Stockholders' Equity Attributable to Parent
(6,318)
(5,654)
 
 
Noncontrolling interest
0 
0 
 
 
Total shareholders' equity
(6,318)
(5,654)
 
 
Total liabilities and shareholders' equity
(6,325)
(5,654)
 
 
Consolidated Entities [Member]
 
 
 
 
Cash and Cash Equivalents, at Carrying Value
1,389 
1,105 
1,363 
3,219 
Restricted cash
4 
8 
 
 
Accounts Receivable, Net, Current
2,662 
2,425 
 
 
Inventories
1,093 
1,066 
 
 
Other Assets, Current
604 
623 
 
 
Total current assets
5,752 
5,227 
 
 
Property Plant & Equipment, net
3,216 
2,860 
 
 
Equity Method Investments
234 
231 
 
 
Investments in Subsidiaries
0 
0 
 
 
Intangible assets, net
1,219 
1,276 
 
 
Other Assets, Noncurrent
626 
582 
 
 
Total long-term assets
5,295 
4,949 
 
 
Total assets
11,047 
10,176 
 
 
Short-term Debt
61 
140 
 
 
Accounts Payable, Current
2,595 
2,278 
 
 
Accrued Liabilities, Current
1,238 
1,241 
 
 
Total current liabilities
3,894 
3,659 
 
 
Long-term Debt, Excluding Current Maturities
2,351 
2,324 
 
 
Intercompany acccounts, net
0 
0 
 
 
Pension benefit obligations
959 
929 
 
 
Other Liabilities, Noncurrent
409 
434 
 
 
Total long-term liabilities
3,719 
3,687 
 
 
Total liabilities
7,613 
7,346 
 
 
Stockholders' Equity Attributable to Parent
2,911 
2,345 
 
 
Noncontrolling interest
523 
485 
 
 
Total shareholders' equity
3,434 
2,830 
 
 
Total liabilities and shareholders' equity
$ 11,047 
$ 10,176 
 
 
Supplemental Guarantor And Non-Guarantor Condensed Consolidating Financial Statements Statement of Cash Flows (Details) (USD $)
In Millions, unless otherwise specified
12 Months Ended
Dec. 31, 2013
Dec. 31, 2012
Dec. 31, 2011
Net cash provided by (used in) operating activities
$ 1,750 
$ 1,478 
$ 1,377 
Capital expenditures
(682)
(705)
(630)
Maturity of time deposits
0 
0 
550 
Proceeds from sale of property and investments
33 
20 
72 
Cost of business and technology acquisitions, net of cash acquired
(10)
(980)
(17)
Increase (Decrease) in Restricted Cash
4 
1 
38 
Loans to related parties
0 
14 
(14)
Acquisition of minority held shares
0 
(16)
0 
Dividends from equity method investments in excess of earnings
0 
37 
0 
Payments for (Proceeds from) Other Investing Activities
0 
(2)
(9)
Net cash (used in) provided by investing activities
(655)
(1,631)
(10)
Net (repayments) borrowings under other short-term debt agreements
(80)
(8)
(125)
Repayments under long-term debt agreements
(1,353)
(5)
(1,490)
Proceeds from issuance of senior secured loans, net of issuance costs
560 
358 
2,385 
Proceeds from issuance senior notes, net of issuance costs
788 
0 
976 
Repayments of unsecured debt
0 
0 
(57)
Dividend payments of consolidated affiliates to minority shareholders
(55)
(47)
(43)
Repurchase of ordinary shares
(457)
(403)
0 
Distribution of cash dividends
(211)
0 
0 
Taxes withheld and paid on employees' restricted share awards
(14)
0 
0 
Distributions to Delphi equity holders
0 
0 
(93)
Redemption of membership interests
0 
0 
(4,747)
Net cash used in financing activities
(822)
(105)
(3,194)
Effect of Exchange Rate on Cash and Cash Equivalents
11 
0 
(29)
Increase (decrease) in cash and cash equivalents
284 
(258)
(1,856)
Cash and cash equivalents at beginning of period
1,105 
1,363 
3,219 
Cash and cash equivalents at end of period
1,389 
1,105 
1,363 
Parent [Member]
 
 
 
Net cash provided by (used in) operating activities
(153)
(22)
(255)
Capital expenditures
0 
0 
0 
Maturity of time deposits
 
 
0 
Proceeds from sale of property and investments
0 
0 
0 
Cost of business and technology acquisitions, net of cash acquired
0 
0 
 
Increase (Decrease) in Restricted Cash
0 
0 
0 
Loans to related parties
 
0 
 
Acquisition of minority held shares
 
 
0 
Dividends from equity method investments in excess of earnings
 
0 
 
Payments for (Proceeds from) Other Investing Activities
 
0 
0 
Net cash (used in) provided by investing activities
0 
0 
0 
Net (repayments) borrowings under other short-term debt agreements
0 
0 
0 
Repayments under long-term debt agreements
0 
 
0 
Proceeds from issuance of senior secured loans, net of issuance costs
0 
0 
0 
Repayments of secured debt
 
0 
 
Proceeds from issuance senior notes, net of issuance costs
0 
 
0 
Repayments of unsecured debt
 
 
0 
Dividend payments of consolidated affiliates to minority shareholders
0 
0 
0 
Intercompany dividends and net increase (decrease) in intercompany obligations
826 
374 
5,142 
Repurchase of ordinary shares
(457)
(403)
 
Distribution of cash dividends
(211)
 
 
Taxes withheld and paid on employees' restricted share awards
0 
 
 
Distributions to Delphi equity holders
 
 
(93)
Redemption of membership interests
 
 
(4,747)
Net cash used in financing activities
158 
(29)
302 
Effect of Exchange Rate on Cash and Cash Equivalents
0 
0 
0 
Increase (decrease) in cash and cash equivalents
5 
(51)
47 
Cash and cash equivalents at beginning of period
2 
53 
6 
Cash and cash equivalents at end of period
7 
2 
53 
Subsidiary Issuer [Member]
 
 
 
Net cash provided by (used in) operating activities
0 
0 
17 
Capital expenditures
0 
0 
0 
Maturity of time deposits
 
 
0 
Proceeds from sale of property and investments
0 
0 
0 
Cost of business and technology acquisitions, net of cash acquired
0 
0 
 
Increase (Decrease) in Restricted Cash
0 
0 
0 
Loans to related parties
 
0 
 
Acquisition of minority held shares
 
 
0 
Dividends from equity method investments in excess of earnings
 
0 
 
Payments for (Proceeds from) Other Investing Activities
 
0 
0 
Net cash (used in) provided by investing activities
0 
0 
0 
Net (repayments) borrowings under other short-term debt agreements
0 
0 
4 
Repayments under long-term debt agreements
(1,353)
 
(1,490)
Proceeds from issuance of senior secured loans, net of issuance costs
560 
358 
2,385 
Repayments of secured debt
 
(5)
 
Proceeds from issuance senior notes, net of issuance costs
788 
 
976 
Repayments of unsecured debt
 
 
0 
Dividend payments of consolidated affiliates to minority shareholders
0 
0 
0 
Intercompany dividends and net increase (decrease) in intercompany obligations
5 
(353)
(1,892)
Repurchase of ordinary shares
0 
0 
 
Distribution of cash dividends
0 
 
 
Taxes withheld and paid on employees' restricted share awards
0 
 
 
Distributions to Delphi equity holders
 
 
0 
Redemption of membership interests
 
 
0 
Net cash used in financing activities
0 
0 
(17)
Effect of Exchange Rate on Cash and Cash Equivalents
0 
0 
0 
Increase (decrease) in cash and cash equivalents
0 
0 
0 
Cash and cash equivalents at beginning of period
0 
0 
0 
Cash and cash equivalents at end of period
0 
0 
0 
Guarantor Subsidiaries [Member]
 
 
 
Net cash provided by (used in) operating activities
253 
384 
269 
Capital expenditures
(181)
(197)
(161)
Maturity of time deposits
 
 
550 
Proceeds from sale of property and investments
3 
2 
12 
Cost of business and technology acquisitions, net of cash acquired
0 
0 
 
Increase (Decrease) in Restricted Cash
0 
0 
25 
Loans to related parties
 
0 
 
Acquisition of minority held shares
 
 
0 
Dividends from equity method investments in excess of earnings
 
0 
 
Payments for (Proceeds from) Other Investing Activities
 
0 
(4)
Net cash (used in) provided by investing activities
(178)
(195)
422 
Net (repayments) borrowings under other short-term debt agreements
0 
0 
(1)
Repayments under long-term debt agreements
0 
 
0 
Proceeds from issuance of senior secured loans, net of issuance costs
0 
0 
0 
Repayments of secured debt
 
0 
 
Proceeds from issuance senior notes, net of issuance costs
0 
 
0 
Repayments of unsecured debt
 
 
0 
Dividend payments of consolidated affiliates to minority shareholders
0 
0 
0 
Intercompany dividends and net increase (decrease) in intercompany obligations
115 
(257)
(2,514)
Repurchase of ordinary shares
0 
0 
 
Distribution of cash dividends
0 
 
 
Taxes withheld and paid on employees' restricted share awards
(13)
 
 
Distributions to Delphi equity holders
 
 
0 
Redemption of membership interests
 
 
0 
Net cash used in financing activities
102 
(257)
(2,515)
Effect of Exchange Rate on Cash and Cash Equivalents
0 
0 
0 
Increase (decrease) in cash and cash equivalents
177 
(68)
(1,824)
Cash and cash equivalents at beginning of period
118 
186 
2,010 
Cash and cash equivalents at end of period
295 
118 
186 
Non-Guarantor Subsidiaries [Member]
 
 
 
Net cash provided by (used in) operating activities
1,650 
1,116 
1,346 
Capital expenditures
(501)
(508)
(469)
Maturity of time deposits
 
 
0 
Proceeds from sale of property and investments
30 
18 
60 
Cost of business and technology acquisitions, net of cash acquired
(10)
(980)
(17)
Increase (Decrease) in Restricted Cash
4 
1 
13 
Loans to related parties
 
(14)
(14)
Acquisition of minority held shares
 
(16)
 
Dividends from equity method investments in excess of earnings
 
37 
 
Payments for (Proceeds from) Other Investing Activities
 
(2)
(5)
Net cash (used in) provided by investing activities
(477)
(1,436)
(432)
Net (repayments) borrowings under other short-term debt agreements
(80)
(8)
(128)
Repayments under long-term debt agreements
0 
 
0 
Proceeds from issuance of senior secured loans, net of issuance costs
0 
0 
0 
Repayments of secured debt
 
0 
 
Proceeds from issuance senior notes, net of issuance costs
0 
 
0 
Repayments of unsecured debt
 
 
(57)
Dividend payments of consolidated affiliates to minority shareholders
(55)
(47)
(43)
Intercompany dividends and net increase (decrease) in intercompany obligations
(946)
236 
(736)
Repurchase of ordinary shares
0 
0 
 
Distribution of cash dividends
0 
 
 
Taxes withheld and paid on employees' restricted share awards
(1)
 
 
Distributions to Delphi equity holders
 
 
0 
Redemption of membership interests
 
 
0 
Net cash used in financing activities
(1,082)
181 
(964)
Effect of Exchange Rate on Cash and Cash Equivalents
11 
0 
(29)
Increase (decrease) in cash and cash equivalents
102 
(139)
(79)
Cash and cash equivalents at beginning of period
985 
1,124 
1,203 
Cash and cash equivalents at end of period
1,087 
985 
1,124 
Intersegment Elimination [Member]
 
 
 
Net cash provided by (used in) operating activities
0 
0 
0 
Capital expenditures
0 
0 
0 
Maturity of time deposits
 
 
0 
Proceeds from sale of property and investments
0 
0 
0 
Cost of business and technology acquisitions, net of cash acquired
0 
0 
0 
Increase (Decrease) in Restricted Cash
0 
0 
0 
Loans to related parties
 
0 
0 
Acquisition of minority held shares
 
 
0 
Dividends from equity method investments in excess of earnings
 
0 
 
Payments for (Proceeds from) Other Investing Activities
 
0 
0 
Net cash (used in) provided by investing activities
0 
0 
0 
Net (repayments) borrowings under other short-term debt agreements
0 
0 
0 
Repayments under long-term debt agreements
0 
 
0 
Proceeds from issuance of senior secured loans, net of issuance costs
0 
0 
0 
Repayments of secured debt
 
0 
 
Proceeds from issuance senior notes, net of issuance costs
0 
 
0 
Repayments of unsecured debt
 
 
0 
Dividend payments of consolidated affiliates to minority shareholders
0 
0 
0 
Intercompany dividends and net increase (decrease) in intercompany obligations
0 
0 
0 
Repurchase of ordinary shares
0 
0 
 
Distribution of cash dividends
0 
 
 
Taxes withheld and paid on employees' restricted share awards
0 
 
 
Distributions to Delphi equity holders
 
 
0 
Redemption of membership interests
 
 
0 
Net cash used in financing activities
0 
0 
0 
Effect of Exchange Rate on Cash and Cash Equivalents
0 
0 
0 
Increase (decrease) in cash and cash equivalents
0 
0 
0 
Cash and cash equivalents at beginning of period
0 
0 
0 
Cash and cash equivalents at end of period
0 
0 
0 
Consolidated Entities [Member]
 
 
 
Net cash provided by (used in) operating activities
1,750 
1,478 
1,377 
Capital expenditures
(682)
(705)
(630)
Maturity of time deposits
 
 
550 
Proceeds from sale of property and investments
33 
20 
72 
Cost of business and technology acquisitions, net of cash acquired
(10)
(980)
(17)
Increase (Decrease) in Restricted Cash
4 
1 
38 
Loans to related parties
 
(14)
(14)
Acquisition of minority held shares
 
(16)
 
Dividends from equity method investments in excess of earnings
 
37 
 
Payments for (Proceeds from) Other Investing Activities
 
(2)
(9)
Net cash (used in) provided by investing activities
(655)
(1,631)
(10)
Net (repayments) borrowings under other short-term debt agreements
(80)
(8)
(125)
Repayments under long-term debt agreements
(1,353)
 
(1,490)
Proceeds from issuance of senior secured loans, net of issuance costs
560 
358 
2,385 
Repayments of secured debt
 
(5)
 
Proceeds from issuance senior notes, net of issuance costs
788 
 
976 
Repayments of unsecured debt
 
 
(57)
Dividend payments of consolidated affiliates to minority shareholders
(55)
(47)
(43)
Intercompany dividends and net increase (decrease) in intercompany obligations
0 
 
0 
Repurchase of ordinary shares
(457)
(403)
 
Distribution of cash dividends
(211)
 
 
Taxes withheld and paid on employees' restricted share awards
(14)
 
 
Distributions to Delphi equity holders
 
0 
(93)
Redemption of membership interests
 
 
(4,747)
Net cash used in financing activities
(822)
(105)
(3,194)
Effect of Exchange Rate on Cash and Cash Equivalents
11 
0 
(29)
Increase (decrease) in cash and cash equivalents
284 
(258)
(1,856)
Cash and cash equivalents at beginning of period
1,105 
1,363 
3,219 
Cash and cash equivalents at end of period
$ 1,389 
$ 1,105 
$ 1,363 
Segment Reporting Reconciliation of Sales and Operating Data (Details) (USD $)
In Millions, unless otherwise specified
3 Months Ended 12 Months Ended
Dec. 31, 2013
Sep. 30, 2013
Jun. 30, 2013
Mar. 31, 2013
Dec. 31, 2012
Sep. 30, 2012
Jun. 30, 2012
Mar. 31, 2012
Dec. 31, 2013
Dec. 31, 2012
Dec. 31, 2011
Sales and Operating Data from Segment to Consolidated [Line Items]
 
 
 
 
 
 
 
 
 
 
 
Net sales
$ 4,182 
$ 4,017 
$ 4,240 
$ 4,024 
$ 3,767 
$ 3,663 
$ 3,997 
$ 4,092 
$ 16,463 
$ 15,519 
$ 16,041 1
EBITDA
 
 
 
 
 
 
 
 
2,224 
1,962 
2,119 
Adjusted EBITDA
 
 
 
 
 
 
 
 
2,384 
2,142 
2,150 
Depreciation and Amortization
 
 
 
 
 
 
 
 
540 
486 
475 
Operating income
417 
387 
483 
397 
177 
367 
468 
464 
1,684 2
1,476 3
1,644 4
Equity income, net of tax
 
 
 
 
 
 
 
 
34 
27 
22 
Net income attributable to noncontrolling interest
 
 
 
 
 
 
 
 
89 
83 
78 
Restructuring
 
 
 
 
(154)
 
 
 
(145)
(171)
(31)
Electrical / Electronic Architecture [Member]
 
 
 
 
 
 
 
 
 
 
 
Sales and Operating Data from Segment to Consolidated [Line Items]
 
 
 
 
 
 
 
 
 
 
 
Net sales
 
 
 
 
 
 
 
 
7,972 
6,815 
6,642 
EBITDA
 
 
 
 
 
 
 
 
1,194 
887 
868 
Adjusted EBITDA
 
 
 
 
 
 
 
 
1,237 
945 
880 
Depreciation and Amortization
 
 
 
 
 
 
 
 
236 
164 
131 
Operating income
 
 
 
 
 
 
 
 
958 2
723 3
737 4
Equity income, net of tax
 
 
 
 
 
 
 
 
15 
13 
20 
Net income attributable to noncontrolling interest
 
 
 
 
 
 
 
 
40 
37 
33 
Restructuring
 
 
 
 
 
 
 
 
(28)
(49)
(12)
Powertrain Systems [Member]
 
 
 
 
 
 
 
 
 
 
 
Sales and Operating Data from Segment to Consolidated [Line Items]
 
 
 
 
 
 
 
 
 
 
 
Net sales
 
 
 
 
 
 
 
 
4,424 
4,656 
4,970 
EBITDA
 
 
 
 
 
 
 
 
619 
698 
710 
Adjusted EBITDA
 
 
 
 
 
 
 
 
671 
723 
722 
Depreciation and Amortization
 
 
 
 
 
 
 
 
188 
182 
195 
Operating income
 
 
 
 
 
 
 
 
431 2
516 3
515 4
Equity income, net of tax
 
 
 
 
 
 
 
 
4 
1 
3 
Net income attributable to noncontrolling interest
 
 
 
 
 
 
 
 
31 
31 
33 
Restructuring
 
 
 
 
 
 
 
 
(52)
(25)
(12)
Electronics And Safety [Member]
 
 
 
 
 
 
 
 
 
 
 
Sales and Operating Data from Segment to Consolidated [Line Items]
 
 
 
 
 
 
 
 
 
 
 
Net sales
 
 
 
 
 
 
 
 
2,830 
2,732 
2,931 
EBITDA
 
 
 
 
 
 
 
 
340 
274 
369 
Adjusted EBITDA
 
 
 
 
 
 
 
 
396 
363 
374 
Depreciation and Amortization
 
 
 
 
 
 
 
 
73 
97 
105 
Operating income
 
 
 
 
 
 
 
 
267 2
177 3
264 4
Equity income, net of tax
 
 
 
 
 
 
 
 
0 
3 
1 
Net income attributable to noncontrolling interest
 
 
 
 
 
 
 
 
0 
0 
0 
Restructuring
 
 
 
 
 
 
 
 
(56)
(89)
(5)
Thermal Systems [Member]
 
 
 
 
 
 
 
 
 
 
 
Sales and Operating Data from Segment to Consolidated [Line Items]
 
 
 
 
 
 
 
 
 
 
 
Net sales
 
 
 
 
 
 
 
 
1,468 
1,541 
1,755 
EBITDA
 
 
 
 
 
 
 
 
71 
103 
172 
Adjusted EBITDA
 
 
 
 
 
 
 
 
80 
111 
174 
Depreciation and Amortization
 
 
 
 
 
 
 
 
43 
43 
44 
Operating income
 
 
 
 
 
 
 
 
28 2
60 3
128 4
Equity income, net of tax
 
 
 
 
 
 
 
 
18 
11 
6 
Net income attributable to noncontrolling interest
 
 
 
 
 
 
 
 
18 
15 
12 
Restructuring
 
 
 
 
 
 
 
 
(9)
(8)
(2)
Eliminations And Other [Member]
 
 
 
 
 
 
 
 
 
 
 
Sales and Operating Data from Segment to Consolidated [Line Items]
 
 
 
 
 
 
 
 
 
 
 
Net sales
 
 
 
 
 
 
 
 
(231)
(225)5
(257)5
EBITDA
 
 
 
 
 
 
 
 
0 5
0 5
0 5
Adjusted EBITDA
 
 
 
 
 
 
 
 
0 
0 
0 
Depreciation and Amortization
 
 
 
 
 
 
 
 
0 5
0 5
0 5
Operating income
 
 
 
 
 
 
 
 
0 2 5
0 3 5
0 4 5
Equity income, net of tax
 
 
 
 
 
 
 
 
(3)5
(1)5
(8)5
Net income attributable to noncontrolling interest
 
 
 
 
 
 
 
 
0 5
0 5
0 5
Restructuring
 
 
 
 
 
 
 
 
$ 0 
$ 0 
$ 0 
Segment Reporting Balance Sheet (Details) (USD $)
In Millions, unless otherwise specified
12 Months Ended
Dec. 31, 2013
Dec. 31, 2012
Dec. 31, 2011
Segment Reporting Information [Line Items]
 
 
 
Equity Method Investments
$ 234 
$ 231 
 
Goodwill
496 
473 
8 
Capital expenditures
682 
705 
 
Assets
11,047 
10,176 
 
Electrical / Electronic Architecture [Member]
 
 
 
Segment Reporting Information [Line Items]
 
 
 
Equity Method Investments
48 
49 
 
Goodwill
487 
465 
0 
Capital expenditures
293 
238 
 
Assets
5,312 
4,758 
 
Powertrain Systems [Member]
 
 
 
Segment Reporting Information [Line Items]
 
 
 
Equity Method Investments
72 
77 
 
Goodwill
9 
8 
8 
Capital expenditures
224 
304 
 
Assets
4,128 
3,915 
 
Electronics And Safety [Member]
 
 
 
Segment Reporting Information [Line Items]
 
 
 
Equity Method Investments
0 
0 
 
Goodwill
0 
0 
 
Capital expenditures
64 
66 
 
Assets
2,018 
1,701 
 
Thermal Systems [Member]
 
 
 
Segment Reporting Information [Line Items]
 
 
 
Equity Method Investments
105 
88 
 
Goodwill
0 
0 
 
Capital expenditures
77 
63 
 
Assets
985 
905 
 
Eliminations And Other [Member]
 
 
 
Segment Reporting Information [Line Items]
 
 
 
Equity Method Investments
9 1
17 1
 
Goodwill
0 
0 
 
Capital expenditures
24 1
34 1
 
Assets
$ (1,396)1
$ (1,103)1
 
Segment Reporting Reconciliation of Adjusted EBITDA to Net Income (Details) (USD $)
In Millions, unless otherwise specified
3 Months Ended 12 Months Ended
Dec. 31, 2013
Sep. 30, 2013
Jun. 30, 2013
Mar. 31, 2013
Dec. 31, 2012
Sep. 30, 2012
Jun. 30, 2012
Mar. 31, 2012
Dec. 31, 2013
Dec. 31, 2012
Dec. 31, 2011
EBITDA to Net Income Data [Line Items]
 
 
 
 
 
 
 
 
 
 
 
Adjusted EBITDA
 
 
 
 
 
 
 
 
$ 2,384 
$ 2,142 
$ 2,150 
Restructuring Charges
 
 
 
 
(154)
 
 
 
(145)
(171)
(31)
Other acquisition-related costs
 
 
 
 
 
 
 
 
(15)
(9)
 
EBITDA
 
 
 
 
 
 
 
 
2,224 
1,962 
2,119 
Depreciation and amortization
 
 
 
 
 
 
 
 
(540)
(486)
(475)
Operating income
417 
387 
483 
397 
177 
367 
468 
464 
1,684 1
1,476 2
1,644 3
Interest expense
 
 
 
 
 
 
 
 
(143)
(136)
(123)
Other (expense) income, net
 
 
 
 
 
 
 
 
(18)
5 
(15)
Income before income taxes and equity income
 
 
 
 
 
 
 
 
1,523 
1,345 
1,506 
Income Tax Expense
 
 
 
 
 
 
 
 
(256)
(212)
(305)
Equity income, net of tax
 
 
 
 
 
 
 
 
34 
27 
22 
Net income
321 4
293 4
389 4
298 4
155 
292 
350 
363 
1,301 4
1,160 
1,223 
Net income attributable to noncontrolling interest
 
 
 
 
 
 
 
 
89 
83 
78 
Net income attributable to Delphi
298 
271 
367 
276 
136 
269 
330 
342 
1,212 
1,077 
1,145 
Electrical / Electronic Architecture [Member]
 
 
 
 
 
 
 
 
 
 
 
EBITDA to Net Income Data [Line Items]
 
 
 
 
 
 
 
 
 
 
 
Adjusted EBITDA
 
 
 
 
 
 
 
 
1,237 
945 
880 
Restructuring Charges
 
 
 
 
 
 
 
 
(28)
(49)
(12)
Other acquisition-related costs
 
 
 
 
 
 
 
 
(15)
(9)
 
EBITDA
 
 
 
 
 
 
 
 
1,194 
887 
868 
Depreciation and amortization
 
 
 
 
 
 
 
 
(236)
(164)
(131)
Operating income
 
 
 
 
 
 
 
 
958 1
723 2
737 3
Equity income, net of tax
 
 
 
 
 
 
 
 
15 
13 
20 
Net income attributable to noncontrolling interest
 
 
 
 
 
 
 
 
40 
37 
33 
Powertrain Systems [Member]
 
 
 
 
 
 
 
 
 
 
 
EBITDA to Net Income Data [Line Items]
 
 
 
 
 
 
 
 
 
 
 
Adjusted EBITDA
 
 
 
 
 
 
 
 
671 
723 
722 
Restructuring Charges
 
 
 
 
 
 
 
 
(52)
(25)
(12)
Other acquisition-related costs
 
 
 
 
 
 
 
 
0 
0 
 
EBITDA
 
 
 
 
 
 
 
 
619 
698 
710 
Depreciation and amortization
 
 
 
 
 
 
 
 
(188)
(182)
(195)
Operating income
 
 
 
 
 
 
 
 
431 1
516 2
515 3
Equity income, net of tax
 
 
 
 
 
 
 
 
4 
1 
3 
Net income attributable to noncontrolling interest
 
 
 
 
 
 
 
 
31 
31 
33 
Electronics And Safety [Member]
 
 
 
 
 
 
 
 
 
 
 
EBITDA to Net Income Data [Line Items]
 
 
 
 
 
 
 
 
 
 
 
Adjusted EBITDA
 
 
 
 
 
 
 
 
396 
363 
374 
Restructuring Charges
 
 
 
 
 
 
 
 
(56)
(89)
(5)
Other acquisition-related costs
 
 
 
 
 
 
 
 
0 
0 
 
EBITDA
 
 
 
 
 
 
 
 
340 
274 
369 
Depreciation and amortization
 
 
 
 
 
 
 
 
(73)
(97)
(105)
Operating income
 
 
 
 
 
 
 
 
267 1
177 2
264 3
Equity income, net of tax
 
 
 
 
 
 
 
 
0 
3 
1 
Net income attributable to noncontrolling interest
 
 
 
 
 
 
 
 
0 
0 
0 
Thermal Systems [Member]
 
 
 
 
 
 
 
 
 
 
 
EBITDA to Net Income Data [Line Items]
 
 
 
 
 
 
 
 
 
 
 
Adjusted EBITDA
 
 
 
 
 
 
 
 
80 
111 
174 
Restructuring Charges
 
 
 
 
 
 
 
 
(9)
(8)
(2)
Other acquisition-related costs
 
 
 
 
 
 
 
 
0 
0 
 
EBITDA
 
 
 
 
 
 
 
 
71 
103 
172 
Depreciation and amortization
 
 
 
 
 
 
 
 
(43)
(43)
(44)
Operating income
 
 
 
 
 
 
 
 
28 1
60 2
128 3
Equity income, net of tax
 
 
 
 
 
 
 
 
18 
11 
6 
Net income attributable to noncontrolling interest
 
 
 
 
 
 
 
 
18 
15 
12 
Eliminations And Other [Member]
 
 
 
 
 
 
 
 
 
 
 
EBITDA to Net Income Data [Line Items]
 
 
 
 
 
 
 
 
 
 
 
Adjusted EBITDA
 
 
 
 
 
 
 
 
0 
0 
0 
Restructuring Charges
 
 
 
 
 
 
 
 
0 
0 
0 
Other acquisition-related costs
 
 
 
 
 
 
 
 
0 
0 
 
EBITDA
 
 
 
 
 
 
 
 
0 5
0 5
0 5
Depreciation and amortization
 
 
 
 
 
 
 
 
0 5
0 5
0 5
Operating income
 
 
 
 
 
 
 
 
0 1 5
0 2 5
0 3 5
Equity income, net of tax
 
 
 
 
 
 
 
 
(3)5
(1)5
(8)5
Net income attributable to noncontrolling interest
 
 
 
 
 
 
 
 
$ 0 5
$ 0 5
$ 0 5
Segment Reporting Geographical Data (Details) (USD $)
In Millions, unless otherwise specified
3 Months Ended 12 Months Ended
Dec. 31, 2013
Sep. 30, 2013
Jun. 30, 2013
Mar. 31, 2013
Dec. 31, 2012
Sep. 30, 2012
Jun. 30, 2012
Mar. 31, 2012
Dec. 31, 2013
Dec. 31, 2012
Dec. 31, 2011
Segment Reporting Information [Line Items]
 
 
 
 
 
 
 
 
 
 
 
Net sales
$ 4,182 
$ 4,017 
$ 4,240 
$ 4,024 
$ 3,767 
$ 3,663 
$ 3,997 
$ 4,092 
$ 16,463 
$ 15,519 
$ 16,041 1
Property Plant & Equipment, net
3,216 1
 
 
 
2,860 1
 
 
 
3,216 1
2,860 1
2,315 1
United States [Member]
 
 
 
 
 
 
 
 
 
 
 
Segment Reporting Information [Line Items]
 
 
 
 
 
 
 
 
 
 
 
Net sales
 
 
 
 
 
 
 
 
5,300 
5,193 
4,993 1
Property Plant & Equipment, net
668 1
 
 
 
592 1
 
 
 
668 1
592 1
506 1
Other North America [Member]
 
 
 
 
 
 
 
 
 
 
 
Segment Reporting Information [Line Items]
 
 
 
 
 
 
 
 
 
 
 
Net sales
 
 
 
 
 
 
 
 
213 
151 
118 1
Property Plant & Equipment, net
145 1
 
 
 
139 1
 
 
 
145 1
139 1
129 1
Europe, Middle East, & Africa [Member]
 
 
 
 
 
 
 
 
 
 
 
Segment Reporting Information [Line Items]
 
 
 
 
 
 
 
 
 
 
 
Net sales
 
 
 
 
 
 
 
 
6,444 2
6,364 2
7,264 1 2
Property Plant & Equipment, net
1,592 1 2
 
 
 
1,455 1 2
 
 
 
1,592 1 2
1,455 1 2
1,107 1 2
China [Member]
 
 
 
 
 
 
 
 
 
 
 
Segment Reporting Information [Line Items]
 
 
 
 
 
 
 
 
 
 
 
Net sales
 
 
 
 
 
 
 
 
2,703 2
2,288 2
2,026 1 2
Property Plant & Equipment, net
526 1
 
 
 
389 1
 
 
 
526 1
389 1
314 1
Other Asia Pacific [Member]
 
 
 
 
 
 
 
 
 
 
 
Segment Reporting Information [Line Items]
 
 
 
 
 
 
 
 
 
 
 
Net sales
 
 
 
 
 
 
 
 
838 
539 
438 1
Property Plant & Equipment, net
148 1
 
 
 
135 1
 
 
 
148 1
135 1
108 1
South America [Member]
 
 
 
 
 
 
 
 
 
 
 
Segment Reporting Information [Line Items]
 
 
 
 
 
 
 
 
 
 
 
Net sales
 
 
 
 
 
 
 
 
965 
984 
1,202 1
Property Plant & Equipment, net
137 1
 
 
 
150 1
 
 
 
137 1
150 1
151 1
United Kingdom [Member]
 
 
 
 
 
 
 
 
 
 
 
Segment Reporting Information [Line Items]
 
 
 
 
 
 
 
 
 
 
 
Net sales
 
 
 
 
 
 
 
 
727 
726 
866 
Property Plant & Equipment, net
$ 229 
 
 
 
$ 191 
 
 
 
$ 229 
$ 191 
$ 138 
Quarterly Data (Details) (USD $)
In Millions, except Per Share data, unless otherwise specified
3 Months Ended 12 Months Ended
Dec. 31, 2013
Sep. 30, 2013
Jun. 30, 2013
Mar. 31, 2013
Dec. 31, 2012
Sep. 30, 2012
Jun. 30, 2012
Mar. 31, 2012
Dec. 31, 2013
Dec. 31, 2012
Dec. 31, 2011
Quarterly Financial Data [Abstract]
 
 
 
 
 
 
 
 
 
 
 
Net sales
$ 4,182 
$ 4,017 
$ 4,240 
$ 4,024 
$ 3,767 
$ 3,663 
$ 3,997 
$ 4,092 
$ 16,463 
$ 15,519 
$ 16,041 1
Cost of sales (3)
3,426 
3,338 
3,464 
3,339 
3,158 2
3,058 2
3,272 2
3,373 2
13,567 
12,861 2
13,386 
Gross Profit
756 
679 
776 
685 
609 
605 
725 
719 
2,896 
2,658 
 
Operating Income
417 
387 
483 
397 
177 
367 
468 
464 
1,684 3
1,476 4
1,644 5
Net income (1)
321 6
293 6
389 6
298 6
155 
292 
350 
363 
1,301 6
1,160 
1,223 
Net income attributable to Delphi
298 
271 
367 
276 
136 
269 
330 
342 
1,212 
1,077 
1,145 
Basic
$ 0.97 7
$ 0.88 7
$ 1.18 7
$ 0.88 7
$ 0.43 7
$ 0.84 7
$ 1.01 7
$ 1.04 7
$ 3.90 7
$ 3.34 7
$ 2.72 
Weighted average number of basic shares outstanding
307.08 
309.68 
311.93 
314.68 
316.80 
320.93 
325.87 
328.24 
310.82 
322.94 
421.26 
Diluted
$ 0.97 7
$ 0.87 7
$ 1.17 7
$ 0.88 7
$ 0.43 7
$ 0.84 7
$ 1.01 7
$ 1.04 7
$ 3.89 7
$ 3.33 7
$ 2.72 
Weighted Average Number of Shares Outstanding, Diluted
308.64 
310.62 
312.69 
315.36 
317.34 
321.28 
326.14 
328.47 
311.80 
323.29 
421.26 
Restructuring Charges
 
 
 
 
154 
 
 
 
145 
171 
31 
Impairment of Long-Lived Assets Held-for-use
 
 
 
 
$ 15 
 
 
 
$ 0 
$ 15 
$ 0