DELPHI 2013 Annual Report Download - page 146

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124
24. 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.