DELPHI 2011 Annual Report Download - page 56

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Table of Contents
Selling, General and Administrative Expense
Successor Predecessor
Year ended
December 31, 2010
Period from
August 19 to
December 31, 2009
Period from
January 1 to
October 6, 2009
(dollars in millions) (dollars in millions)
Selling, general and administrative expense $ 815 $ 242 $ 734
Percentage of net sales 5.9% 7.1% 8.8%
Successor
SG&A continued to decline as a percent of sales in the year ended December 31, 2010 and the Successor Period of 2009 as compared to the
Predecessor Period of 2009 as a result of the positive effects of cost savings initiatives.
Predecessor
During the Predecessor Period of 2009, the impact of cost saving and restructuring initiatives had not yet been fully realized. In addition, reduced
volumes during 2009 resulted in SG&A being a larger percentage of net sales due to the fixed nature of certain SG&A costs.
Amortization
Successor Predecessor
Year ended
December 31, 2010
Period from
August 19 to
December 31, 2009
Period from
January 1 to
October 6, 2009
(in millions) (in millions)
Amortization $ 70 $ 16 $ 3
Successor
Amortization for the year ended December 31, 2010 and the Successor Period of 2009 is a result of the recognition at fair value of approximately $766
million of intangible assets that we acquired as a part of the Acquisition.
Predecessor
During the Predecessor Period of 2009, amortization was insignificant.
Refer to Note 8. Intangible Assets and Goodwill to the audited consolidated financial statements included herein for additional information.
Restructuring
Successor Predecessor
Year ended
December 31, 2010
Period from
August 19 to
December 31, 2009
Period from
January 1 to
October 6, 2009
(dollars in millions) (dollars in millions)
Restructuring $ 224 $ 126 $ 235
Percentage of net sales 1.6% 3.7% 2.8%
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