DELPHI 2015 Annual Report Download - page 92

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Table of Contents
70
DELPHI AUTOMOTIVE PLC
CONSOLIDATED STATEMENTS OF OPERATIONS
Year Ended December 31,
2015 2014 2013
(in millions, except per share amounts)
Net sales......................................................................................................................... $ 15,165 $ 15,499 $ 15,051
Operating expenses:
Cost of sales.............................................................................................................. 12,155 12,471 12,274
Selling, general and administrative........................................................................... 1,017 1,036 916
Amortization ............................................................................................................. 93 94 97
Restructuring (Note 10) ............................................................................................ 177 140 137
Total operating expenses ............................................................................................... 13,442 13,741 13,424
Operating income .......................................................................................................... 1,723 1,758 1,627
Interest expense ........................................................................................................ (127)(135)(143)
Other (expense) income, net (Note 19)..................................................................... (88)(8)(18)
Income from continuing operations before income taxes and equity income............... 1,508 1,615 1,466
Income tax expense................................................................................................... (263)(255)(240)
Income from continuing operations before equity income............................................ 1,245 1,360 1,226
Equity income, net of tax.......................................................................................... 16 20 15
Income from continuing operations............................................................................... 1,261 1,380 1,241
Income from discontinued operations, net of tax (Note 25)..................................... 274 60 60
Net income..................................................................................................................... 1,535 1,440 1,301
Net income attributable to noncontrolling interest........................................................ 85 89 89
Net income attributable to Delphi ................................................................................. $ 1,450 $ 1,351 $ 1,212
Amounts attributable to Delphi:
Income from continuing operations.......................................................................... $ 1,188 $ 1,309 $ 1,170
Income from discontinued operations ...................................................................... 262 42 42
Net income................................................................................................................ $ 1,450 $ 1,351 $ 1,212
Basic net income per share:
Continuing operations............................................................................................... $ 4.16 $ 4.36 $ 3.76
Discontinued operations ........................................................................................... 0.92 0.14 0.14
Basic net income per share attributable to Delphi .................................................... $ 5.08 $ 4.50 $ 3.90
Weighted average number of basic shares outstanding............................................ 285.20 300.27 310.82
Diluted net income per share:
Continuing operations............................................................................................... $ 4.14 $ 4.34 $ 3.75
Discontinued operations ........................................................................................... 0.92 0.14 0.14
Diluted net income per share attributable to Delphi................................................. $ 5.06 $ 4.48 $ 3.89
Weighted average number of diluted shares outstanding ......................................... 286.64 301.89 311.80
Cash dividends declared per share ................................................................................ $ 1.00 $ 1.00 $ 0.68
See notes to consolidated financial statements.