DELPHI 2015 Annual Report Download - page 128

Table of Contents
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A summary of the ordinary shares repurchased during the years ended December 31, 2015, 2014 and 2013 is as follows:
Year Ended December 31,
2015 2014 2013
Total number of shares repurchased...................................................................... 14,581,705 15,041,713 9,106,434
Average price paid per share................................................................................. $ 79.48 $ 68.05 $ 50.14
Total (in millions)............................................................................................. $ 1,159 $ 1,024 $ 457
As of December 31, 2015, approximately $507 million of share repurchases remained available under the January 2015
share repurchase program. During the period from January 1, 2016 to February 4, 2016, the Company repurchased an
additional $50 million worth of shares pursuant to a trading plan with set trading instructions established by the Company. As a
result, approximately $457 million of share repurchases remain available under the January 2015 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.
Dividends
The Company has declared and paid cash dividends per ordinary share during the periods presented as follows:
Dividend Amount
Per Share (in millions)
2015:
Fourth quarter ................................................................................................................................. $ 0.25 $ 70
Third quarter ................................................................................................................................... 0.25 71
Second quarter ................................................................................................................................ 0.25 72
First quarter..................................................................................................................................... 0.25 73
Total ........................................................................................................................................... $ 1.00 $ 286
2014:
Fourth quarter ................................................................................................................................. $ 0.25 $ 73
Third quarter ................................................................................................................................... 0.25 75
Second quarter ................................................................................................................................ 0.25 76
First quarter..................................................................................................................................... 0.25 77
Total ........................................................................................................................................... $ 1.00 $ 301
In addition, in January 2016, the Board of Directors increased the annual dividend rate to $1.16 per ordinary share, and
declared a regular quarterly cash dividend of $0.29 per ordinary share, payable on February 29, 2016 to shareholders of record
at the close of business on February 17, 2016.
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.
Under the terms of 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 DPHH, $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, 2015 and accordingly, no reserve has been recorded. Refer to Note 13. Commitments and
Contingencies for additional information.