This Day On The Street
Continue to site right-arrow
ADVERTISEMENT
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here
TheStreet Open House

Delphi Reports Third Quarter 2012 Financial Results

Stocks in this article: DLPH

EBITDA : EBITDA is presented as a supplemental measure of the Company's performance which is consistent with the basis and manner in which management presents financial information for the purpose of making internal operating decisions. EBITDA is defined as net income (loss) before depreciation and amortization (including long-lived asset and goodwill impairment), interest expense, other income (expense), net, income tax expense and equity income (loss), net of tax. Not all companies use identical calculations of EBITDA therefore this presentation may not be comparable to other similarly titled measures of other companies. The Company's 2012 guidance was determined using a consistent manner and methodology.

 
Consolidated EBITDA
    Three Months Ended     Nine Months Ended
September 30, September 30,
2012   2011 2012   2011
(in millions)
Net income attributable to Delphi $ 269 $ 266 $ 941 $ 855
Income tax expense 52 87 227 276
Interest expense 32 37 100 84
Other income, net (3 ) (14 ) (15 ) (13 )
Noncontrolling interest 23 19 64 56
Equity income, net of tax (6 ) (2 ) (18 ) (25 )
Operating income 367 393 1,299 1,233
Depreciation and amortization 113   123   340   356  
EBITDA $ 480   $ 516   $ 1,639   $ 1,589  
 
 
Segment EBITDA
(in millions)
Three Months Ended September 30, 2012    

Electrical/ Electronic Architecture

 

Powertrain Systems

 

Electronics and Safety

 

Thermal Systems

 

Eliminations and Other

  Total
 
Operating income $ 171 $ 125 $ 58 $ 13 $ $ 367
Depreciation and amortization 39   44   20   10     113
EBITDA $ 210   $ 169   $ 78   $ 23   $   $ 480
 
Three Months Ended September 30, 2011

Electrical/ Electronic Architecture

Powertrain Systems

Electronics and Safety

Thermal Systems

Eliminations and Other

Total
 
Operating income $ 200 $ 116 $ 55 $ 22 $ $ 393
Depreciation and amortization 33   51   26   13     123
EBITDA $ 233   $ 167   $ 81   $ 35   $   $ 516
 
Nine Months Ended September 30, 2012

Electrical/ Electronic Architecture

Powertrain Systems

Electronics and Safety

Thermal Systems

Eliminations and Other

Total
 
Operating income $ 596 $ 437 $ 207 $ 59 $ $ 1,299
Depreciation and amortization 112   134   62   32     340
EBITDA $ 708   $ 571   $ 269   $ 91   $   $ 1,639
 
Nine Months Ended September 30, 2011

Electrical/ Electronic Architecture

Powertrain Systems

Electronics and Safety

Thermal Systems

Eliminations and Other

Total
 
Operating income $ 593 $ 343 $ 200 $ 97 $ $ 1,233
Depreciation and amortization 97   144   79   36     356
EBITDA $ 690   $ 487   $ 279   $ 133   $   $ 1,589
 

Cash flow before financing: Cash flow before financing is presented as a supplemental measure of the Company's liquidity which is consistent with the basis and manner in which management presents financial information for the purpose of making internal operating decisions. Cash flow before financing is defined as cash provided by (used in) operating activities plus cash provided by (used in) investing activities, adjusted for maturities of time deposits and costs associated with the initial public offering (IPO). Not all companies use identical calculations of cash flow before financing therefore this presentation may not be comparable to other similarly titled measures of other companies. The Company's 2012 guidance was determined using a consistent manner and methodology.

 
    Three Months Ended     Nine Months Ended
September 30, September 30,
2012   2011 2012   2011
(in millions) (in millions)
Cash flows from operating activities:
Net income $ 292 $ 285 $ 1,005 $ 911
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation and amortization 113 123 340 356
Working capital (14 ) 28 (178 ) (305 )
Pension contributions (16 ) (18 ) (42 ) (51 )
Other, net 39   (8 ) 43   (2 )
Net cash provided by operating activities 414   410   1,168   909  
 
Cash flows from investing activities:
Capital expenditures (163 ) (162 ) (563 ) (454 )
Maturity of time deposits 550
Other, net 3   26   37   79  
Net cash (used in) provided by investing activities (160 ) (136 ) (526 ) 175  
 
Adjustment for maturities of time deposits       (550 )
 
Cash flow before financing $ 254   $ 274   $ 642   $ 534  
 




6 of 7

Select the service that is right for you!

COMPARE ALL SERVICES
Action Alerts PLUS
Try it NOW

Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
  • Weekly roundups
TheStreet Quant Ratings
Try it NOW
Only $49.95/yr

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
  • Upgrade/downgrade alerts
Stocks Under $10
Try it NOW

David Peltier, uncovers low dollar stocks with extraordinary upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
  • Weekly roundups
Dividend Stock Advisor
Try it NOW

Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Alerts when market news affect the portfolio
  • Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
Real Money Pro
Try it NOW

All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.

Product Features:
  • Real Money + Doug Kass Plus 15 more Wall Street Pros
  • Intraday commentary & news
  • Ultra-actionable trading ideas
Options Profits
Try it NOW

Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • 100+ monthly options trading ideas
  • Actionable options commentary & news
  • Real-time trading community
  • Options TV
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!
DOW 17,117.80 +143.49 0.85%
S&P 500 0.00 -2.75 -0.14%
NASDAQ 4,543.8860 -5.34 -0.12%

Brokerage Partners

Rates from Bankrate.com

  • Mortgage
  • Credit Cards
  • Auto

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs