DELPHI 2014 Annual Report Download - page 68

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46
measure is most reflective of the operational profitability or loss of our operating segments. Segment Adjusted Operating
Income should not be considered a substitute for results prepared in accordance with U.S. GAAP and should not be considered
an alternative to net income attributable to Delphi, which is the most directly comparable financial measure to Adjusted
Operating Income that is in accordance with U.S. GAAP. Segment Adjusted Operating Income, as determined and measured by
Delphi, should also not be compared to similarly titled measures reported by other companies.
The reconciliation of Adjusted Operating Income to Operating Income includes restructuring, other project and
integration costs related to acquisitions and other portfolio transactions and asset impairments. The reconciliation of Adjusted
Operating Income to net income attributable to Delphi for the years ended December 31, 2013 and 2012 are as follows:
Electrical/
Electronic
Architecture Powertrain
Systems Electronics
and Safety Thermal
Systems Eliminations
and Other Total
(in millions)
For the Year Ended December 31, 2013:
Adjusted operating income ....................... $ 1,001 $ 483 $ 323 $ 37 $ — $ 1,844
Restructuring ........................................ (28) (52)(56)(9) — (145)
Other acquisition & portfolio project
costs...................................................... (15) — — — — (15)
Operating income...................................... $ 958 $ 431 $ 267 $ 28 $ — 1,684
Interest expense......................................... (143)
Other expense, net..................................... (18)
Income before income taxes and equity
income....................................................... 1,523
Income tax expense................................... (256)
Equity income, net of tax.......................... 34
Net income................................................ 1,301
Net income attributable to noncontrolling
interest....................................................... 89
Net income attributable to Delphi............. $ 1,212
Electrical/
Electronic
Architecture Powertrain
Systems Electronics
and Safety Thermal
Systems Eliminations
and Other Total
(in millions)
For the Year Ended December 31, 2012:
Adjusted operating income ....................... $ 781 $ 541 $ 281 $ 68 $ — $ 1,671
Restructuring ........................................ (49) (25)(89)(8) — (171)
Other acquisition & portfolio project
costs...................................................... (9) — — — — (9)
Asset impairments ................................ — — (15) — — (15)
Operating income...................................... $ 723 $ 516 $ 177 $ 60 $ — 1,476
Interest expense......................................... (136)
Other income, net...................................... 5
Income before income taxes and equity
income....................................................... 1,345
Income tax expense................................... (212)
Equity income, net of tax.......................... 27
Net income................................................ 1,160
Net income attributable to noncontrolling
interest....................................................... 83
Net income attributable to Delphi............. $ 1,077