DELPHI 2015 Annual Report Download - page 26

Table of Contents
4
PART I
ITEM 1. BUSINESS
“Delphi,” the “Company,” “we,” “us” and “our” refer to Delphi Automotive PLC, a public limited company which was
formed under the laws of Jersey on May 19, 2011, together with its subsidiaries, including Delphi Automotive LLP, a limited
liability partnership incorporated under the laws of England and Wales (“Delphi Automotive LLP”) which was formed on
August 19, 2009 for the purpose of acquiring certain assets and subsidiaries of the former Delphi Corporation, and became a
subsidiary of Delphi Automotive PLC in connection with the completion of the Company’s initial public offering on November
22, 2011. The former Delphi Corporation (now known as DPH Holdings Corp. (“DPHH”)) and, as the context may require, its
subsidiaries and affiliates, are also referred to herein as “Old Delphi.”
We are a leading global vehicle components manufacturer and provide electrical and electronic, powertrain and active
safety technology solutions to the global automotive and commercial vehicle markets. We are one of the largest vehicle
component manufacturers, and our customers include all 25 of the largest automotive original equipment manufacturers
(“OEMs”) in the world. We operate 126 major manufacturing facilities and 14 major technical centers utilizing a regional
service model that enables us to efficiently and effectively serve our global customers from low cost countries. We have a
presence in 44 countries and have over 19,000 scientists, engineers and technicians focused on developing market relevant
product solutions for our customers.
We are focused on growing and improving the profitability of our businesses, and have implemented a strategy designed
to position Delphi to deliver industry-leading long-term shareholder returns. This strategy includes disciplined investing in our
business to grow and enhance our product offerings, strategically focusing our portfolio in high-growth spaces in order to meet
consumer preferences and leveraging an industry-leading cost structure to expand our operating margins. In line with the long
term growth in emerging markets, we have been increasing our focus on these markets, particularly China, where we have a
major manufacturing base, including investments in 6 new manufacturing facilities since 2012, and strong customer
relationships. Our strategy also includes maintaining a strong and flexible balance sheet with investment grade credit ratings.
Website Access to Company’s Reports
Delphi’s website address is delphi.com. Our Annual Reports on Form 10-K, quarterly reports on Form 10-Q, current
reports on Form 8-K, and amendments to those reports filed or furnished pursuant to section 13(a) or 15(d) of the Exchange Act
are available free of charge through our website as soon as reasonably practicable after they are electronically filed with, or
furnished to, the Securities and Exchange Commission (“SEC”).
Our History
In October 2005, Old Delphi and certain of its United States (“U.S.”) subsidiaries filed voluntary petitions for
reorganization relief under Chapter 11 of the United States Bankruptcy Code (the “Bankruptcy Code”) in the United States
Bankruptcy Court for the Southern District of New York (the “Bankruptcy Court”). Old Delphi's non-U.S. subsidiaries, which
were not included in the Chapter 11 Filings, continued their business operations without supervision from the Bankruptcy Court
and were not subject to the requirements of the Bankruptcy Code. On October 6, 2009 (the “Acquisition Date”), Delphi
Automotive LLP acquired the major portion of the business of Old Delphi and issued membership interests to a group of
investors consisting of certain lenders to Old Delphi, General Motors Company (“GM”) and the Pension Benefit Guaranty
Corporation (the “PBGC”). On March 31, 2011, all of the outstanding Class A and Class C membership interests held by GM
and the PBGC were redeemed, respectively, for approximately $4.4 billion.
On May 19, 2011, Delphi Automotive PLC was formed as a Jersey public limited company, and had nominal assets, no
liabilities and had conducted no operations prior to its initial public offering. On November 22, 2011, in conjunction with the
completion of its initial public offering by the selling shareholders, all of the outstanding equity of Delphi Automotive LLP was
exchanged by its equity holders for ordinary shares in Delphi Automotive PLC. As a result, Delphi Automotive LLP became a
wholly-owned subsidiary of Delphi Automotive PLC.