Acquisition of Motorized Vehicles Division from FCI GroupDelphi completed the acquisition of FCI Group's Motorized Vehicles Division ("MVL") on October 26, 2012 for €765 million. MVL is a leading global manufacturer of automotive connection systems with a focus on high-value, leading technology applications. The acquisition was funded with cash on hand inclusive of additional borrowings of $363 million. Restructuring In order to improve Delphi's industry leading cost structure and margins and in response to the continued economic uncertainties, we initiated various restructuring programs in the fourth quarter. The programs are anticipated to total approximately $250 million ($70 million related to MVL), with approximately $175 million anticipated to be recognized in Q4 2012, and the balance to be recognized in 2013. Approximately 75% of the restructuring program costs are in Europe. Q4 2012 and Full Year 2012 Outlook The Company's Q4 2012 and full year financial guidance reflects our current outlook on exchange rates, which negatively impacts year over year comparisons, further reductions in European OEM production schedules, and the acquisition of MVL, excluding non-recurring MVL transaction costs and the Q4 restructuring program. The Company's updated Q4 and full year financial guidance reflects an estimated average exchange rate of $1.29 per Euro for Q4 and $1.28 per Euro for the full year, as compared to the average exchange rate for Q4 2011 and full year 2011 of $1.35 per Euro and $1.39 per Euro, respectively.
|Excludes non-recurring MVL transaction costs and Q4 restructuring program of approximately $0.50 per share|
|Q4||2 Months Impact of||Q4 2012||Full Year|
|(dollars in millions)||2012||MVL Acquisition||With MVL||2012|
|Earnings Per Share||$0.79 - $0.89||$0.01||$0.80 - $0.90||$3.68 - $3.78|
|EBITDA||$440 - $480||~$22||$460 - $500||$2,100 - $2,140|
|EBITDA Margin||12.2% - 13.0%||~18.0%||12.3% - 13.1%||13.6% - 13.7%|
|Revenue||$3,600 - $3,700||~$125||$3,725 - $3,825||$15,475 - $15,575|