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Quarterly Data (Unaudited) (Tables)
 12 Months Ended
Dec. 31, 2016
Quarterly Financial Data [Abstract]  
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 2016 and 2015.
 
Three Months Ended
 
 
 
March 31,
 
June 30,
 
September 30, 
 
December 31,
 
Total
 
(in millions, except per share amounts)
2016
 
 
 
 
 
 
 
 
 
Net sales
$
4,051

 
$
4,206

 
$
4,091

 
$
4,313

 
$
16,661

Cost of sales (1)
3,265

 
3,348

 
3,256

 
3,238

 
13,107

Gross profit
$
786

 
$
858

 
$
835

 
$
1,075

 
$
3,554

Operating income (2)
$
441

 
$
391

 
$
460

 
$
655

 
$
1,947

Income from continuing operations
335

 
271

 
306

 
306

 
1,218

Income from discontinued operations, net of tax (3)
108

 
—

 
—

 
—

 
108

Net income (4)
$
443

 
$
271

 
$
306

 
$
306

 
$
1,326

Net income attributable to Delphi
$
425

 
$
258

 
$
293

 
$
281

 
$
1,257

Basic net income per share:
 
 
 
 
 
 
 
 
 
Continuing operations (5)
$
1.16

 
$
0.95

 
$
1.08

 
$
1.04

 
$
4.22

Discontinued operations (5)
0.38

 
—

 
—

 
—

 
0.38

Basic net income per share attributable to Delphi (5)
$
1.54

 
$
0.95

 
$
1.08

 
$
1.04

 
$
4.60

Weighted average number of basic shares outstanding
276.62

 
272.92

 
272.19

 
270.38

 
273.02

Diluted net income per share:
 
 
 
 
 
 
 
 
 
Continuing operations (5)
$
1.15

 
$
0.94

 
$
1.07

 
$
1.03

 
$
4.21

Discontinued operations (5)
0.38

 
—

 
—

 
—

 
0.38

Diluted net income per share attributable to Delphi (5)
$
1.53

 
$
0.94

 
$
1.07

 
$
1.03

 
$
4.59

Weighted average number of diluted shares outstanding
277.04

 
273.37

 
272.77

 
271.64

 
273.70

 
 
 
 
 
 
 
 
 
 
2015
 
 
 
 
 
 
 
 
 
Net sales
$
3,797

 
$
3,858

 
$
3,631

 
$
3,879

 
$
15,165

Cost of sales
3,056

 
3,076

 
2,862

 
3,161

 
12,155

Gross profit
$
741

 
$
782

 
$
769

 
$
718

 
$
3,010

Operating income (6)
$
446

 
$
481

 
$
461

 
$
335

 
$
1,723

Income from continuing operations
304

 
369

 
364

 
224

 
1,261

(Loss) income from discontinued operations, net of tax (7)
(75
)
 
298

 
54

 
(3
)
 
274

Net income (8)
$
229

 
$
667

 
$
418

 
$
221

 
$
1,535

Net income attributable to Delphi
$
209

 
$
645

 
$
404

 
$
192

 
$
1,450

Basic net income (loss) per share:
 
 
 
 
 
 
 
 
 
Continuing operations (5)
$
0.99

 
$
1.22

 
$
1.24

 
$
0.71

 
$
4.16

Discontinued operations (5)
(0.27
)
 
1.02

 
0.19

 
(0.02
)
 
0.92

Basic net income per share attributable to Delphi (5)
$
0.72

 
$
2.24

 
$
1.43

 
$
0.69

 
$
5.08

Weighted average number of basic shares outstanding
290.90

 
287.77

 
282.97

 
279.29

 
285.20

Diluted net income (loss) per share:
 
 
 
 
 
 
 
 
 
Continuing operations (5)
$
0.99

 
$
1.21

 
$
1.23

 
$
0.70

 
$
4.14

Discontinued operations (5)
(0.27
)
 
1.02

 
0.19

 
(0.02
)
 
0.92

Diluted net income per share attributable to Delphi (5)
$
0.72

 
$
2.23

 
$
1.42

 
$
0.68

 
$
5.06

Weighted average number of diluted shares outstanding
291.81

 
288.85

 
284.40

 
281.64

 
286.64

(1)
In the fourth quarter of 2016, Delphi recognized a pre-tax gain of $141 million on the divestiture of its Mechatronics business.
(2)
In the second quarter of 2016, Delphi recorded restructuring charges totaling $154 million, which includes employee-related and other costs, $88 million of which related to the initiation of the closure of a European manufacturing site within the Powertrain Systems segment.
(3)
In the first quarter of 2016, Delphi recognized an after-tax gain on the divestiture of discontinued operations of $104 million.
(4)
In the third quarter of 2016, Delphi recognized losses on the extinguishment of debt of $73 million. In the fourth quarter of 2016, Delphi recorded a reserve of $300 million for the Unsecured Creditors litigation.
(5)
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.
(6)
In the fourth quarter of 2015, Delphi recorded restructuring charges totaling $108 million, which includes employee-related and other costs.
(7)
In the first quarter of 2015, Delphi recognized an after-tax impairment loss of $88 million within discontinued operations, in the second quarter of 2015, Delphi recognized an after-tax gain on the divestiture of discontinued operations of $285 million and in the third quarter of 2015, Delphi recognized an after-tax gain on the divestiture of discontinued operations of $47 million.
(8)
In the first quarter of 2015, Delphi recognized a loss on extinguishment of debt of $52 million.