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QUARTERLY DATA (UNAUDITED) (Tables)
 12 Months Ended
Dec. 31, 2019
Quarterly Financial Data [Abstract]  
Quarterly Data
The following is a condensed summary of the Company’s unaudited quarterly results for 2019 and 2018.
 
Three Months Ended
 
 
 
March 31,
 
June 30,
 
September 30, 
 
December 31,
 
Total
 
(in millions, except per share amounts)
2019
 
 
 
 
 
 
 
 
 
Net sales
$
1,151

 
$
1,121

 
$
1,033

 
$
1,056

 
$
4,361

Cost of sales
983

 
955

 
883

 
907

 
3,728

Gross profit
$
168

 
$
166

 
$
150

 
$
149

 
$
633

Operating income (loss) (1)
$
55

 
$
56

 
$
45

 
(15
)
 
141

Net income
19

 
31

 
17

 
(34
)
 
33

Net income attributable to noncontrolling interest

3

 
4

 
3

 
6

 
16

Net income attributable to Delphi Technologies (2)
$
16

 
$
27

 
$
14

 
$
(40
)
 
$
17

Basic net income per share attributable to Delphi Technologies (3)
$
0.18

 
$
0.31

 
$
0.16

 
$
(0.46
)
 
$
0.19

Weighted average number of basic shares outstanding
88.45

 
87.77

 
86.90

 
86.07

 
87.29

Diluted net income per share attributable to Delphi Technologies (3)
$
0.18

 
$
0.31

 
$
0.16

 
$
(0.46
)
 
$
0.19

Weighted average number of diluted shares outstanding
88.55

 
88.11

 
86.91

 
86.14

 
87.42

 
 
 
 
 
 
 
 
 
 
2018
 
 
 
 
 
 
 
 
 
Net sales
$
1,296

 
$
1,232

 
$
1,159

 
$
1,171

 
$
4,858

Cost of sales
1,046

 
991

 
965

 
959

 
3,961

Gross profit
$
250

 
$
241

 
$
194

 
$
212

 
$
897

Operating income
$
138

 
$
122

 
$
81

 
$
93

 
$
434

Net income
105

 
90

 
43

 
142

 
380

Net income attributable to noncontrolling interest
7

 
4

 
4

 
7

 
22

Net income attributable to Delphi Technologies (4)
$
98

 
$
86

 
$
39

 
$
135

 
$
358

Basic net income per share attributable to Delphi Technologies (3)
$
1.10

 
$
0.97

 
$
0.44

 
$
1.53

 
$
4.04

Weighted average number of basic shares outstanding
88.71

 
88.78

 
88.74

 
88.49

 
88.68

Diluted net income per share attributable to Delphi Technologies (3)
$
1.10

 
$
0.97

 
$
0.44

 
$
1.52

 
$
4.03

Weighted average number of diluted shares outstanding
88.92

 
89.05

 
88.97

 
88.63

 
88.89

(1)
In the fourth quarter of 2019, the Company recorded $26 million of asset impairments and $56 million related to the restructuring plan announced in October 2019 to reshape and realign its global technical center footprint and reduce salaried and contract staff.
(2)
In the first quarter of 2019, the Company recorded a one-time charge of $15 million related to curtailing the defined benefit pension plans in the U.K.
(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 2018, as a result of the release of valuation allowances in France and the recording of a valuation allowance in Luxembourg, the Company recorded a net income tax benefit of $78 million.