DELPHI 2011 Annual Report Download - page 148

Table of Contents
Periods prior to the Acquisition Date are not presented as the information is not meaningful under the Predecessor corporate structure.
Statement of Operations Year Ended December 31, 2011
Parent
Companies
Subsidiary
Issuer
Guarantor
Subsidiaries
Non-
Guarantor
Subsidiaries Eliminations Consolidated
(in millions)
Net sales $ — $ — $ 5,292 $ 12,225 $ (1,476) $ 16,041
Operating expenses:
Cost of sales — — 4,754 10,124 (1,492) 13,386
Selling, general and administrative 118 — 272 511 — 901
Amortization — — 53 26 — 79
Restructuring — — 3 28 — 31
Total operating expenses 118 — 5,082 10,689 (1,492) 14,397
Operating (loss) income (118) — 210 1,536 16 1,644
Interest expense (37) (101) (1) (26) 42 (123)
Other (expense) income, net (38) 27 3 36 (43) (15)
(Loss) income before income taxes and equity income (193) (74) 212 1,546 15 1,506
Income tax benefit (expense) 3 27 (91) (238) (6) (305)
(Loss) income before equity income (190) (47) 121 1,308 9 1,201
Equity in net income (loss) of affiliates — — — 22 — 22
Equity in net income (loss) of subsidiaries 1,335 121 — — (1,456) —
Net income (loss) 1,145 74 121 1,330 (1,447) 1,223
Net income attributable to noncontrolling interest — — — 78 — 78
Net income (loss) attributable to Delphi $ 1,145 $ 74 $ 121 $ 1,252 $ (1,447) $ 1,145
Statement of Operations Year Ended December 31, 2010
Parent
Companies
Subsidiary
Issuer
Guarantor
Subsidiaries
Non-
Guarantor
Subsidiaries Eliminations Consolidated
(in millions)
Net sales $ — $ — $ 4,870 $ 10,259 $ (1,312) $ 13,817
Operating expenses:
Cost of sales — — 4,238 8,865 (1,335) 11,768
Selling, general and administrative 121 — 259 435 — 815
Amortization — — 49 21 — 70
Restructuring — — 11 213 — 224
Total operating expenses 121 — 4,557 9,534 (1,335) 12,877
Operating (loss) income (121) — 313 725 23 940
Interest expense — — (3) (27) — (30)
Other income (expense), net — — 17 18 (1) 34
(Loss) income before income taxes and equity income (loss) (121) — 327 716 22 944
Income tax expense (1) — (94) (156) (7) (258)
(Loss) income before equity income (loss) (122) — 233 560 15 686
Equity in net income of affiliates — — — 17 — 17
Equity in net income (loss) of subsidiaries 753 233 — — (986) —
Net income (loss) 631 233 233 577 (971) 703
Net income attributable to noncontrolling interest — — — 72 — 72
Net income (loss) attributable to Delphi $ 631 $ 233 $ 233 $ 505 $ (971) $ 631
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