DELPHI 2015 Annual Report Download - page 74

Table of Contents
52
Dividends to Holders of Ordinary Shares
The Company has declared and paid cash dividends per ordinary share during the periods presented as follows:
Dividend Amount
Per Share (in millions)
2015:
Fourth quarter........................................................................................................................... $ 0.25 $ 70
Third quarter............................................................................................................................. 0.25 71
Second quarter.......................................................................................................................... 0.25 72
First quarter .............................................................................................................................. 0.25 73
Total..................................................................................................................................... $ 1.00 $ 286
2014:
Fourth quarter........................................................................................................................... $ 0.25 $ 73
Third quarter............................................................................................................................. 0.25 75
Second quarter.......................................................................................................................... 0.25 76
First quarter .............................................................................................................................. 0.25 77
Total..................................................................................................................................... $ 1.00 $ 301
In addition, in January 2016, the Board of Directors increased the annual dividend rate to $1.16 per ordinary share, and
declared a regular quarterly cash dividend of $0.29 per ordinary share, payable on February 29, 2016 to shareholders of record
at the close of business on February 17, 2016.
Dividends from Equity Investees
During the year ended December 31, 2015, Delphi received dividends of $17 million from one of its equity method
investments. During the year ended December 31, 2014, Delphi received a dividend of $10 million from its equity method
investment in KDAC, a Korean unconsolidated joint venture which was sold during the year ended December 31, 2015 and has
been reclassified to discontinued operations, as further described in Note 25. Discontinued Operations to the audited
consolidated financial statements included herein. During the year ended December 31, 2013, Delphi received dividends of $9
million from KDAC and $21 million from another of its equity method investments. The dividends were recognized as
reductions to the investments and represented a return on the investments that were included in cash flows from operating
activities from continuing operations and discontinued operations, respectively.
Acquisitions
HellermannTyton—On December 18, 2015, pursuant to the terms of a recommended offer made on July 30, 2015, Delphi
completed the acquisition of 100% of the issued ordinary share capital of HellermannTyton Group PLC ("HellermannTyton") a
public limited company based in the United Kingdom, and a leading global manufacturer of high-performance and innovative
cable management solutions. The acquisition of HellermannTyton expands Delphi’s product portfolio within the connected
vehicle solutions market and will help capitalize on the connected car megatrend. The acquisition also further strengthens
Delphi’s leading position in the electrical architecture market, while providing a platform to grow in HellermannTyton’s
adjacent industrial end markets, including aerospace, defense, alternative energy and mass transit.
Delphi paid 480 pence per HellermannTyton share, or approximately $1.5 billion in the aggregate, net of cash acquired.
HellermannTyton had 2014 sales of approximately €600 million (approximately 6% of which were to Delphi and will be
eliminated on a consolidated basis). Approximately $242 million of HellermannTyton outstanding debt to third-party creditors
was assumed and subsequently paid off. Upon completing the acquisition, Delphi incurred transaction related expenses totaling
approximately $23 million, which were recorded within other income (expense), net in the statement of operations. The results
of operations of HellermannTyton are reported within the Electrical/Electronic Architecture segment from the date of
acquisition.
As further described in Note 20. Acquisitions and Divestitures to the audited consolidated financial statements contained
herein, the acquisition was accounted for as a business combination, with the total purchase price allocated on a preliminary
basis using information available in the fourth quarter of 2015. The allocation of the purchase price could be revised as a result
of additional information obtained regarding liabilities assumed, including, but not limited to, contingent liabilities, revisions of
provisional estimates of fair values, including, but not limited to, the completion of independent appraisals and valuations
related to property, plant and equipment and intangible assets, and certain tax attributes.