DELPHI 2015 Annual Report Download - page 111

Download and view the complete annual report

Please find page 111 of the 2015 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 172

  • 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
  • 163
  • 164
  • 165
  • 166
  • 167
  • 168
  • 169
  • 170
  • 171
  • 172

Table of Contents
89
The table below summarizes the activity in the restructuring liability for the years ended December 31, 2015 and 2014:
Employee
Termination
Benefits Liability
Other Exit
Costs Liability Total
(in millions)
Accrual balance at January 1, 2014................................................................. $ 130 $ 4 $ 134
Provision for estimated expenses incurred during the year........................ 139 1 140
Payments made during the year ................................................................. (159)(3)(162)
Foreign currency and other ........................................................................ (15) — (15)
Accrual balance at December 31, 2014........................................................... $ 95 $ 2 $ 97
Provision for estimated expenses incurred during the year........................ $ 175 $ 2 $ 177
Payments made during the year ................................................................. (131)(2)(133)
Foreign currency and other ........................................................................ (10) — (10)
Accrual balance at December 31, 2015........................................................... $ 129 $ 2 $ 131
11. DEBT
The following is a summary of debt outstanding, net of unamortized issuance costs and discounts, as of December 31,
2015 and December 31, 2014, respectively:
December 31,
2015 2014
(in millions)
3.15%, senior notes, due 2020 (net of $4 and $0 unamortized issuance costs and $1 and $0
discount, respectively) ............................................................................................................ $ 645 $ —
6.125%, senior notes, due 2021 (net of $0 and $7 unamortized issuance costs, respectively) .. — 493
5.00%, senior notes, due 2023 (net of $9 and $10 unamortized issuance costs, respectively) .. 791 790
4.15%, senior notes, due 2024 (net of $5 and $6 unamortized issuance costs and $2 and $2
discount, respectively) ............................................................................................................ 693 692
1.50%, Euro-denominated senior notes, due 2025 (net of $5 and $0 unamortized issuance
costs and $3 and $0 discount, respectively)............................................................................ 757 —
4.25%, senior notes, due 2026 (net of $4 and $0 unamortized issuance costs, respectively) .... 646 —
Tranche A Term Loan, due 2018 (net of $1 and $2 unamortized issuance costs, respectively).399 398
Capital leases and other .............................................................................................................. 77 53
Total debt ............................................................................................................................... 4,008 2,426
Less: current portion ................................................................................................................... (52)(34)
Long-term debt....................................................................................................................... $ 3,956 $ 2,392
The principal maturities of debt, at nominal value follows:
Debt and
Capital Lease
Obligations
(in millions)
2016........................................................................................................................................................................ $ 52
2017........................................................................................................................................................................ 11
2018........................................................................................................................................................................ 403
2019........................................................................................................................................................................ 2
2020........................................................................................................................................................................ 651
Thereafter ............................................................................................................................................................... 2,923
Total................................................................................................................................................................... $ 4,042