DELPHI 2014 Annual Report Download - page 104

Download and view the complete annual report

Please find page 104 of the 2014 DELPHI annual report below. You can navigate through the pages in the report by either clicking on the pages listed below, or by using the keyword search tool below to find specific information within the annual report.

Page out of 162

  • 1
  • 2
  • 3
  • 4
  • 5
  • 6
  • 7
  • 8
  • 9
  • 10
  • 11
  • 12
  • 13
  • 14
  • 15
  • 16
  • 17
  • 18
  • 19
  • 20
  • 21
  • 22
  • 23
  • 24
  • 25
  • 26
  • 27
  • 28
  • 29
  • 30
  • 31
  • 32
  • 33
  • 34
  • 35
  • 36
  • 37
  • 38
  • 39
  • 40
  • 41
  • 42
  • 43
  • 44
  • 45
  • 46
  • 47
  • 48
  • 49
  • 50
  • 51
  • 52
  • 53
  • 54
  • 55
  • 56
  • 57
  • 58
  • 59
  • 60
  • 61
  • 62
  • 63
  • 64
  • 65
  • 66
  • 67
  • 68
  • 69
  • 70
  • 71
  • 72
  • 73
  • 74
  • 75
  • 76
  • 77
  • 78
  • 79
  • 80
  • 81
  • 82
  • 83
  • 84
  • 85
  • 86
  • 87
  • 88
  • 89
  • 90
  • 91
  • 92
  • 93
  • 94
  • 95
  • 96
  • 97
  • 98
  • 99
  • 100
  • 101
  • 102
  • 103
  • 104
  • 105
  • 106
  • 107
  • 108
  • 109
  • 110
  • 111
  • 112
  • 113
  • 114
  • 115
  • 116
  • 117
  • 118
  • 119
  • 120
  • 121
  • 122
  • 123
  • 124
  • 125
  • 126
  • 127
  • 128
  • 129
  • 130
  • 131
  • 132
  • 133
  • 134
  • 135
  • 136
  • 137
  • 138
  • 139
  • 140
  • 141
  • 142
  • 143
  • 144
  • 145
  • 146
  • 147
  • 148
  • 149
  • 150
  • 151
  • 152
  • 153
  • 154
  • 155
  • 156
  • 157
  • 158
  • 159
  • 160
  • 161
  • 162

82
The table below summarizes the activity in the restructuring liability for the years ended December 31, 2014 and 2013:
Employee
Termination
Benefits Liability Other Exit
Costs Liability Total
(in millions)
Accrual balance at January 1, 2013................................................................. $ 157 $ 6 $ 163
Provision for estimated expenses incurred during the year ..................... 143 2 145
Payments made during the year............................................................... (166)(4)(170)
Foreign currency and other...................................................................... 1 — 1
Accrual balance at December 31, 2013........................................................... $ 135 $ 4 $ 139
Provision for estimated expenses incurred during the year ..................... $ 143 $ 1 $ 144
Payments made during the year............................................................... (166)(3)(169)
Foreign currency and other...................................................................... (15) — (15)
Accrual balance at December 31, 2014........................................................... $ 97 $ 2 $ 99
11. DEBT
The following is a summary of debt outstanding, net of discounts of approximately $2 million and $0 million related to
the 2014 Senior Notes, defined below, as of December 31, 2014 and December 31, 2013:
December 31,
2014 2013
(in millions)
Accounts receivable factoring .................................................................................................... $ — $ 1
5.875%, senior notes, due 2019.................................................................................................. — 500
6.125%, senior notes, due 2021.................................................................................................. 500 500
5.00%, senior notes, due 2023.................................................................................................... 800 800
4.15%, senior notes, due 2024.................................................................................................... 698 —
Tranche A Term Loan, due 2018
................................................................................................. 400 564
Capital leases and other .............................................................................................................. 53 47
Total debt............................................................................................................................. 2,451 2,412
Less: current portion................................................................................................................... (34)(61)
Long-term debt.................................................................................................................... $ 2,417 $ 2,351
The principal maturities of debt, at nominal value follows:
Debt and
Capital Lease
Obligations
(in millions)
2015........................................................................................................................................................................ $ 34
2016........................................................................................................................................................................ 14
2017........................................................................................................................................................................ 1
2018........................................................................................................................................................................ 401
2019........................................................................................................................................................................ 1
Thereafter ............................................................................................................................................................... 2,002
Total..................................................................................................................................................................... $ 2,453