QUARTERLY DATA (UNAUDITED)

The following is a condensed summary of the Company’s unaudited quarterly results of operations for fiscal 2017 and 2016.



	Three Months Ended
	March 31,		June 30,		September 30,		December 31,		Total
	(in millions, except per share amounts)
2017
Net sales	$	3,143	$	3,153	$	3,148	$	3,440	$	12,884
Cost of sales	2,544		2,498		2,498		2,730		10,270
Gross profit	$	599	$	655	$	650	$	710	$	2,614
Operating income (1)	$	293	$	364	$	373	$	386	$	1,416
Income from continuing operations	229		306		306		222		1,063
Income from discontinued operations, net of tax	123		80		107		55		365
Net income (2)	$	352	$	386	$	413	$	277	$	1,428
Net income attributable to Aptiv	$	335	$	369	$	395	$	256	$	1,355
Basic net income per share:
Continuing operations (3)	$	0.82	$	1.11	$	1.11	$	0.78	$	3.82
Discontinued operations (3)	0.42		0.27		0.37		0.18		1.25
Basic net income per share attributable to Aptiv (3)	$	1.24	$	1.38	$	1.48	$	0.96	$	5.07
Weighted average number of basic shares outstanding	269.20		267.41		266.24		265.84		267.16
Diluted net income per share:
Continuing operations (3)	$	0.82	$	1.11	$	1.11	$	0.77	$	3.81
Discontinued operations (3)	0.42		0.27		0.37		0.18		1.25
Diluted net income per share attributable to Aptiv (3)	$	1.24	$	1.38	$	1.48	$	0.95	$	5.06
Weighted average number of diluted shares outstanding	269.54		268.03		267.16		267.44		268.03

2016
Net sales	$	2,958	$	3,084	$	3,039	$	3,193	$	12,274
Cost of sales (4)	2,377		2,423		2,402		2,325		9,527
Gross profit	$	581	$	661	$	637	$	868	$	2,747
Operating income (5)	$	303	$	376	$	335	$	525	$	1,539
Income from continuing operations	216		253		202		197		868
Income from discontinued operations, net of tax (6)	227		18		104		109		458
Net income (7)	$	443	$	271	$	306	$	306	$	1,326
Net income attributable to Aptiv	$	425	$	258	$	293	$	281	$	1,257
Basic net income per share:
Continuing operations (3)	$	0.76	$	0.91	$	0.72	$	0.67	$	3.05
Discontinued operations (3)	0.78		0.04		0.36		0.37		1.55
Basic net income per share attributable to Aptiv (3)	$	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 (3)	$	0.75	$	0.90	$	0.72	$	0.67	$	3.05
Discontinued operations (3)	0.78		0.04		0.35		0.36		1.54
Diluted net income per share attributable to Aptiv (3)	$	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


(1)	In the first quarter of 2017, Aptiv recorded restructuring charges totaling $52 million, which includes employee-related and other costs, $36 million of which related to the initiation of the closure of a European manufacturing site within the Advanced Safety and User Experience segment.


(2)	In the fourth quarter of 2017, Aptiv recorded increased tax expense of approximately $50 million due to the enactment of the Tax Cuts and Jobs Act in the United States on December 22, 2017.


(3)	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.


(4)	In the fourth quarter of 2016, Aptiv recognized a pre-tax gain of $141 million on the divestiture of its Mechatronics business.


(5)	In the fourth quarter of 2016, Aptiv recorded restructuring charges totaling $62 million, which includes employee-related and other costs.


(6)	In the first quarter of 2016, Aptiv recognized an after-tax gain on the divestiture of discontinued operations of $104 million.


(7)	In the third quarter of 2016, Aptiv recognized losses on the extinguishment of debt of $73 million. In the fourth quarter of 2016, Aptiv recorded a reserve of $300 million for the Unsecured Creditors litigation.