DELPHI TECHNOLOGIES PLC, 10-Q filed on 8/2/2019
Quarterly Report
v3.19.2
Cover Document - shares
6 Months Ended
Jun. 30, 2019
Jul. 26, 2019
Document and Entity Information [Abstract]    
Current Fiscal Year End Date --12-31  
Document Fiscal Period Focus Q2  
Amendment Flag false  
Title of 12(b) Security Ordinary shares. $0.01 par value per share  
Entity Filer Category Large Accelerated Filer  
Entity Incorporation, State or Country Code Y9  
Document Transition Report false  
Document Quarterly Report true  
Document Type 10-Q  
Document Period End Date Jun. 30, 2019  
Entity File Number 001-38110  
Entity Registrant Name DELPHI TECHNOLOGIES PLC  
Entity Central Index Key 0001707092  
Entity Tax Identification Number 98-1367514  
Entity Address, Address Line One One Angel Court  
Entity Address, Address Line Two 10th Floor  
Entity Address, City or Town London  
Entity Address, Postal Zip Code EC2R 7HJ  
Entity Address, Country GB  
City Area Code 011-  
Local Phone Number 44-020-305-74300  
Entity Information, Former Legal or Registered Name N/A  
Entity Current Reporting Status Yes  
Entity Interactive Data Current Yes  
Entity Small Business false  
Entity Emerging Growth Company false  
Entity Shell Company false  
Trading Symbol DLPH  
Security Exchange Name NYSE  
Entity Common Stock, Shares Outstanding   87,111,264
v3.19.2
Consolidated Statements Of Operations - USD ($)
shares in Thousands, $ in Millions
3 Months Ended 6 Months Ended
Jun. 30, 2019
Jun. 30, 2018
Jun. 30, 2019
Jun. 30, 2018
Income Statement [Abstract]        
Net sales $ 1,121 $ 1,232 $ 2,272 $ 2,528
Operating expenses:        
Cost of sales 955 991 1,938 2,037
Selling, general and administrative 103 105 207 202
Amortization 2 2 8 6
Restructuring 5 12 8 23
Total operating expenses 1,065 1,110 2,161 2,268
Operating income 56 122 111 260
Interest expense (18) (19) (36) (39)
Other income (expense), net 8 4 (4) 10
Income before income taxes and equity income 46 107 71 231
Income tax expense (14) (20) (22) (42)
Income before equity income 32 87 49 189
Equity (loss) income, net of tax (1) 3 1 6
Net income 31 90 50 195
Net income attributable to noncontrolling interest 4 4 7 11
Net income attributable to Delphi Technologies $ 27 $ 86 $ 43 $ 184
Net income per share attributable to Delphi Technologies:        
Basic (in dollars per share) $ 0.31 $ 0.97 $ 0.49 $ 2.07
Diluted (in dollars per share) $ 0.31 $ 0.97 $ 0.49 $ 2.07
Weighted Average Number of Shares Outstanding [Abstract]        
Basic (in shares) 87,770 88,780 88,110 88,750
Diluted (in shares) 88,110 89,050 88,330 88,980
Cash dividends declared per share $ 0 $ 0.17 $ 0 $ 0.34
v3.19.2
Consolidated Statements Of Comprehensive Income - USD ($)
$ in Millions
3 Months Ended 6 Months Ended
Jun. 30, 2019
Jun. 30, 2018
Jun. 30, 2019
Jun. 30, 2018
Statement of Comprehensive Income [Abstract]        
Net income $ 31 $ 90 $ 50 $ 195
Other comprehensive income (loss):        
Currency translation adjustments (15) (85) (6) (54)
Net change in unrecognized gain on derivative instruments, net of tax (9) 3 7 2
Employee benefit plans adjustment, net of tax 9 24 43 16
Other comprehensive income (loss) (15) (58) 44 (36)
Comprehensive income 16 32 94 159
Comprehensive income attributable to noncontrolling interests 2 0 6 9
Comprehensive income attributable to Delphi Technologies $ 14 $ 32 $ 88 $ 150
v3.19.2
Consolidated Balance Sheets - USD ($)
$ in Millions
Jun. 30, 2019
Dec. 31, 2018
Current assets:    
Cash and cash equivalents $ 162 $ 359
Restricted cash 1 1
Accounts receivable, net 884 878
Inventories 553 521
Other current assets 178 172
Total current assets 1,778 1,931
Long-term assets:    
Property, net 1,509 1,445
Investments in affiliates 39 44
Goodwill 7 7
Intangible Assets, Net (Excluding Goodwill) 61 69
Deferred Tax Assets, Net, Noncurrent 273 280
Other long-term assets 236 117
Total long-term assets 2,125 1,962
Total assets 3,903 3,893
Current liabilities:    
Short-term debt 39 43
Accounts payable 832 906
Accrued liabilities 443 428
Total current liabilities 1,314 1,377
Long-term liabilities:    
Long-term debt 1,475 1,488
Pension and other postretirement benefit obligations 408 467
Other long-term liabilities 206 123
Total long-term liabilities 2,089 2,078
Total liabilities 3,403 3,455
Commitments and contingencies
Shareholders' equity:    
Preferred shares, $0.01 par value per share, 50,000,000 shares authorized, none issued and outstanding 0 0
Ordinary shares, $0.01 par value per share, 1,200,000,000 shares authorized, 87,111,264 and 88,491,963 issued and outstanding as of June 30, 2019 and December 31, 2018, respectively 1 1
Additional paid-in capital 406 407
Retained earnings 317 296
Accumulated other comprehensive loss (367) (412)
Total Delphi Technologies shareholders' equity 357 292
Noncontrolling interest 143 146
Total shareholders' equity 500 438
Total liabilities and shareholders' equity $ 3,903 $ 3,893
v3.19.2
Consolidated Balance Sheets (Parenthetical) - $ / shares
Jun. 30, 2019
Dec. 31, 2018
Statement of Financial Position [Abstract]    
Preferred shares, par value per share $ 0.01 $ 0.01
Preferred shares, authorized 50,000,000 50,000,000
Preferred shares, outstanding 0 0
Ordinary Shares, Par or Stated Value Per Share $ 0.01 $ 0.01
Ordinary shares, authorized 1,200,000,000 1,200,000,000
Ordinary shares, outstanding 87,111,264 88,491,963
v3.19.2
Consolidated Statements Of Cash Flows - USD ($)
$ in Millions
6 Months Ended
Jun. 30, 2019
Jun. 30, 2018
Cash flows from operating activities:    
Net income $ 50 $ 195
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation 102 92
Amortization 8 6
Amortization of deferred debt issuance costs 2 2
Restructuring expense, net of cash paid (11) (17)
Deferred income taxes (2) 3
Pension and other postretirement benefit expenses 18 22
Income from equity method investments, net of dividends received (1) (6)
Gain on Disposition of Other Assets (1) 0
Share-based compensation 9 10
Changes in operating assets and liabilities:    
Accounts receivable, net (6) 64
Inventories (32) (22)
Other assets 7 28
Accounts payable (13) (72)
Accrued and other long-term liabilities (10) (37)
Other, net (3) (6)
Pension contributions (26) (23)
Net cash provided by operating activities 91 239
Cash flows from investing activities:    
Capital expenditures (234) (123)
Proceeds from sale of property 5 1
Proceeds from Insurance Settlement, Investing Activities 0 1
Cost of technology investments 0 (7)
Settlement of undesignated derivatives (1) (10)
Net cash used in investing activities (230) (138)
Cash flows from financing activities:    
Net repayments under other short-term debt agreements 0 (2)
Repayments under long-term debt agreements (19) (9)
Dividend payments of consolidated affiliates to minority shareholders (8) (10)
Distribution of cash dividends 0 (30)
Taxes withheld and paid on employees' restricted share awards (2) (5)
Repurchase of ordinary shares (29) 0
Net cash used in financing activities (58) (56)
Effect of exchange rate fluctuations on cash and cash equivalents 0 (12)
Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents, Period Increase (Decrease), Including Exchange Rate Effect (197) 33
Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents, beginning 360 339
Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents, end $ 163 $ 372
v3.19.2
Consolidated Statement Of Shareholders' Equity - USD ($)
$ in Millions
Total
Ordinary Shares
Additional Paid in Capital
Retained Earnings
Accumulated Other Comprehensive Loss
Total Delphi Technologies Shareholders' Equity
Noncontrolling Interest
Balance at beginning of year at Dec. 31, 2017 $ 232 $ 1 $ 431 $ 7 $ (371) $ 68 $ 164
Shares outstanding, beginning of period at Dec. 31, 2017   89,000,000          
Net income 105     98   98 7
Other comprehensive income (loss) 22       20 20 2
Dividends on ordinary shares (15)     (15)   (15)  
Dividend payments of consolidated affiliates to minority shareholders (10)           (10)
Separation related adjustments (32)   (32)     (32)  
Share-based compensation 5   5     5  
Taxes witheld on employees' restricted share award vestings (5)   (5)     (5)  
Balance at end of year at Mar. 31, 2018 302 $ 1 399 90 (351) 139 163
Shares outstanding, end of period at Mar. 31, 2018   89,000,000          
Balance at beginning of year at Dec. 31, 2017 232 $ 1 431 7 (371) 68 164
Shares outstanding, beginning of period at Dec. 31, 2017   89,000,000          
Net income 195            
Other comprehensive income (loss) $ (36)            
Stock Repurchased and Retired During Period, Shares 0            
Repurchase of ordinary shares $ 0            
Balance at end of year at Jun. 30, 2018 320 $ 1 400 161 (405) 157 163
Shares outstanding, end of period at Jun. 30, 2018   89,000,000          
Balance at beginning of year at Mar. 31, 2018 302 $ 1 399 90 (351) 139 163
Shares outstanding, beginning of period at Mar. 31, 2018   89,000,000          
Net income 90     86   86 4
Other comprehensive income (loss) (58)       (54) (54) (4)
Dividends on ordinary shares (15)     (15)   (15)  
Separation related adjustments $ (4)   (4)     (4)  
Stock Repurchased and Retired During Period, Shares 0            
Share-based compensation $ 5   5     5  
Repurchase of ordinary shares 0            
Balance at end of year at Jun. 30, 2018 320 $ 1 400 161 (405) 157 163
Shares outstanding, end of period at Jun. 30, 2018   89,000,000          
Balance at beginning of year at Dec. 31, 2018 438 $ 1 407 296 (412) 292 146
Shares outstanding, beginning of period at Dec. 31, 2018   89,000,000          
Net income 19     16   16 3
Other comprehensive income (loss) 59       58 58 1
Dividend payments of consolidated affiliates to minority shareholders (8)           (8)
Stock Repurchased and Retired During Period, Shares   (1,000,000)          
Share-based compensation 4   4     4  
Repurchase of ordinary shares (15)   (4) (11)   (15)  
Taxes witheld on employees' restricted share award vestings (1)   (1)     (1)  
Balance at end of year at Mar. 31, 2019 496 $ 1 406 301 (354) 354 142
Shares outstanding, end of period at Mar. 31, 2019   88,000,000          
Balance at beginning of year at Dec. 31, 2018 438 $ 1 407 296 (412) 292 146
Shares outstanding, beginning of period at Dec. 31, 2018   89,000,000          
Net income 50            
Other comprehensive income (loss) $ 44            
Stock Repurchased and Retired During Period, Shares (1,583,876)            
Repurchase of ordinary shares $ (30)            
Balance at end of year at Jun. 30, 2019 500 $ 1 406 317 (367) 357 143
Shares outstanding, end of period at Jun. 30, 2019   87,000,000          
Balance at beginning of year at Mar. 31, 2019 496 $ 1 406 301 (354) 354 142
Shares outstanding, beginning of period at Mar. 31, 2019   88,000,000          
Net income 31     27   27 4
Other comprehensive income (loss) (15)       (13) (13) (2)
Dividend payments of consolidated affiliates to minority shareholders $ (1)           (1)
Stock Repurchased and Retired During Period, Shares (845,959) (1,000,000)          
Share-based compensation $ 5   5     5  
Repurchase of ordinary shares (15)   (4) (11)   (15)  
Taxes witheld on employees' restricted share award vestings (1)   (1)     (1)  
Balance at end of year at Jun. 30, 2019 $ 500 $ 1 $ 406 $ 317 $ (367) $ 357 $ 143
Shares outstanding, end of period at Jun. 30, 2019   87,000,000          
v3.19.2
General
6 Months Ended
Jun. 30, 2019
Organization, Consolidation and Presentation of Financial Statements [Abstract]  
General GENERAL
On December 4, 2017, Delphi Technologies PLC became an independent publicly-traded company, formed under the laws of Jersey, as a result of the separation of the Powertrain Systems segment, which included the aftermarket operations, from Aptiv PLC, formerly known as Delphi Automotive PLC (the “Former Parent”). The separation was completed in the form of a pro-rata distribution to the Former Parent’s shareholders of 100% of the outstanding ordinary shares of Delphi Technologies PLC (the “Separation”). References hereinafter to “Delphi Technologies,” “we,” “us,” “our” or the “Company” refer to Delphi Technologies PLC.
Nature of Operations
We are a leader in the development, design and manufacture of integrated powertrain technologies that optimize engine performance, increase vehicle efficiency, reduce emissions, improve driving performance, and support increasing electrification of vehicles. We are a global supplier to original equipment manufacturers (“OEMs”) seeking to manufacture vehicles that meet and exceed increasingly stringent global regulatory requirements and satisfy consumer demands for an enhanced user experience. We provide advanced fuel injection systems, actuators, valvetrain products, sensors, electronic control modules and power electronics technologies. Additionally, we offer a full spectrum of aftermarket products serving a global customer base.
We sell a comprehensive portfolio of advanced technologies and solutions for all propulsion systems to global OEMs of both light vehicles (passenger cars, trucks, vans and sport-utility vehicles) and commercial vehicles (light-duty, medium-duty and heavy-duty trucks, commercial vans, buses and off-highway vehicles). In addition, we manufacture and sell a wide range of fuel injection, electronics and engine management, maintenance, diagnostics, and other products, to leading aftermarket companies, including independent retailers and wholesale distributors. We also add aftermarket know-how in category management, logistics, training, marketing and other dedicated services to provide a full range of aftermarket solutions throughout vehicles’ lives.
Basis of Presentation
The unaudited consolidated financial statements included herein have been prepared in accordance with accounting principles generally accepted in the United States of America (“U.S. GAAP”) for interim financial information and with the instructions to Form 10-Q and Article 10 of Regulation S-X. Accordingly, they do not include all of the information and footnotes required by U.S. GAAP for complete annual financial statements. These financial statements include all adjustments, which consist of normal recurring items, necessary for a fair presentation. The operating results for interim periods are not necessarily indicative of results that may be expected for any other interim period or for the full year. These financial statements should be read in conjunction with the Delphi Technologies 2018 Annual Report on Form 10-K.
v3.19.2
Significant Accounting Policies
6 Months Ended
Jun. 30, 2019
Accounting Policies [Abstract]  
Significant Accounting Policies SIGNIFICANT ACCOUNTING POLICIES
There have been no material changes on the Company’s significant accounting policies since the Company’s Annual Report on Form 10-K for the year ended December 31, 2018, except those described below.
Recently adopted accounting pronouncements—In February 2016, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update (“ASU”) 2016-02, Leases (Topic 842). The Company adopted Accounting Standards Codification (“ASC”) 842 as of January 1, 2019 using the optional modified retrospective transition method and did not recast the comparative periods. ASC 842 requires lessees to recognize a lease liability and a right-of-use asset on the balance sheet for all leases, with the exception of short-term leases. For leases that meet the definition of a short-term lease, the Company has elected to apply the short-term lease exemption, and accordingly, they are not recorded on the balance sheet.
The Company has applied the practical expedients in ASC 842 related to not separating lease and nonlease components of contracts, both when the Company is a lessee and lessor. In addition, the Company elected the package of practical expedients, related to existing leases at the time of adoption, that allowed the Company to carry forward the accounting assessments for: i) whether contracts are or contain leases, ii) the lease classification and iii) the initial direct costs. Delphi Technologies also elected the practical expedient related to existing land easements, that allowed the Company to carry forward the accounting treatment for land easements in existing agreements.
The Company uses an estimated incremental borrowing rate, which is derived from information available at lease commencement, in determining the present value of lease payments. When calculating the incremental borrowing rates, the Company gives consideration to the applicable margin based on our corporate credit ratings, as defined by the Credit Agreement, as well as publicly available data by country for instruments with similar characteristics.
The adoption of this guidance resulted in the recognition of operating lease right-of-use assets and operating lease liabilities of approximately $117 million and $120 million, respectively, on the Company’s consolidated balance sheet as of June 30, 2019. The adoption did not have a material impact on its consolidated statements of operations or cash flows. Refer to Note 6. Leases for additional information.
Delphi Technologies adopted ASU 2018-07, Compensation-Stock Compensation (Topic 718): Improvements to Nonemployee Share-Based Payment Accounting in the first quarter of 2019. This guidance expands the scope of ASC Topic 718, which previously only included share-based payments to employees, to include share-based payments issued to nonemployees for goods or services. Consequently, the accounting for share-based payments to nonemployees and employees is now substantially aligned. The adoption of this guidance did not have a material impact on the Company’s consolidated financial statements.
v3.19.2
Inventories
6 Months Ended
Jun. 30, 2019
Inventory Disclosure [Abstract]  
Inventories INVENTORIES, NET
A summary of inventories is shown below:
 
June 30,
2019
 
December 31,
2018
 
 
 
 
 
(in millions)
Productive material
$
250

 
$
250

Work-in-process
48

 
36

Finished goods
255

 
235

Total
$
553

 
$
521


v3.19.2
Assets
6 Months Ended
Jun. 30, 2019
Deferred Costs, Capitalized, Prepaid, and Other Assets Disclosure [Abstract]  
Assets ASSETS
Other current assets consisted of the following:
 
June 30,
2019
 
December 31,
2018
 
 
 
 
 
(in millions)
Value added tax receivable
$
98

 
$
98

Reimbursable engineering costs
19

 
17

Prepaid insurance and other expenses
19

 
14

Income and other taxes receivable
18

 
16

Notes receivable
10

 
15

Derivative financial instruments (Note 16)
6

 
4

Return assets (Note 12)
5

 
7

Other
3

 
1

Total
$
178

 
$
172


Other long-term assets consisted of the following:
 
June 30,
2019
 
December 31,
2018
 
 
 
 
 
(in millions)
Operating lease assets (Note 6)
$
117

 
$

Income and other taxes receivable
41

 
53

Investment in Tula Technology, Inc.
21

 
21

Investment in PolyCharge America, Inc.
7

 
7

Derivative financial instruments (Note 16)
5

 

Debt issuance costs
3

 
3

Reimbursable engineering costs
3

 

Other
39

 
33

Total
$
236

 
$
117


v3.19.2
Liabilities
6 Months Ended
Jun. 30, 2019
Other Liabilities Disclosure [Abstract]  
Liabilities LIABILITIES
Accrued liabilities consisted of the following:
 
June 30,
2019
 
December 31,
2018
 
 
 
 
 
(in millions)
Income and other taxes payable
$
62

 
$
63

Warranty obligations (Note 7)
60

 
68

Payroll-related obligations
50

 
45

Restructuring (Note 8)
42

 
46

Deferred reimbursable engineering
37

 
31

Accrued rebates
27

 
29

Operating lease liabilities (Note 6)
21

 

Freight
17

 
20

Employee benefits
13

 
16

Outside services
12

 
13

Accrued interest
10

 
12

Deferred cost reimbursement
7

 
5

Customer deposits
6

 
5

Other
79

 
75

Total
$
443

 
$
428


Other long-term liabilities consisted of the following:
 
June 30,
2019
 
December 31,
2018
 
 
 
 
 
(in millions)
Operating lease liabilities (Note 6)
$
99

 
$

Accrued income taxes
46

 
46

Warranty obligations (Note 7)
25

 
28

Deferred income taxes
15

 
14

Restructuring (Note 8)
11

 
19

Derivative financial instruments (Note 16)
5

 
6

Environmental (Note 11)
2

 
2

Other
3

 
8

Total
$
206

 
$
123


v3.19.2
Leases
6 Months Ended
Jun. 30, 2019
Leases [Abstract]  
Leases Disclosure [Text Block] LEASES
On January 1, 2019, Delphi Technologies adopted ASC Topic 842, Leases, which requires lessees to recognize a lease liability and a right-of-use asset on the balance sheet for leases, with the exception of short-term leases. The Company leases real estate (including manufacturing sites and technical centers), office equipment, automobiles, forklifts and certain other equipment under finance and operating leases. As of June 30, 2019, the remaining lease terms range from 1 year to 10 years. Many of the Company’s leases include rent escalation clauses, renewal options and/or termination options that are factored into the Company’s determination of lease payments and lease term, as appropriate. During the six months ended June 30, 2019, the Company obtained $6 million of lease assets in exchange for new operating lease liabilities.
The Company is a lessor for certain owned real estate. Rental income for these leases is included within other income, net and was not material for the six months ended June 30, 2019.
The table below presents supplemental balance sheet information related to leases as of June 30, 2019:
 
 
June 30, 2019
 
 
 
 
 
(in millions)
Assets
Balance Sheet Location
 
Operating lease assets
Other long-term assets (Note 4)
$
117

Finance lease assets
Property, net
14

 
Total lease assets
$
131

 
 
 
Liabilities
 
 
Current
 
 
Operating leases
Accrued liabilities (Note 5)
$
21

Finance leases
Short-term debt (Note 9)
2

Long-term
 
 
Operating leases
Other long-term liabilities (Note 5)
99

Finance leases
Long-term debt (Note 9)
13

 
Total lease liabilities
$
135


The table below presents the components of lease costs for the three and six months ended June 30, 2019:
 
Three Months Ended June 30, 2019
 
Six Months Ended June 30, 2019
 
 
 
 
 
(in millions)
Finance lease cost - amortization of lease assets (1)
$

 
$
1

Operating lease cost (2)
10

 
18

Total lease cost
$
10

 
$
19

(1)
Includes interest on finance lease liabilities, which was not material.
(2)
Includes short-term leases and variable lease costs, which were not material.
The table below presents the weighted-average remaining lease term and discount rate as of June 30, 2019:
Weighted-average remaining lease term (in years):
 
Operating leases
6.68

Finance leases
8.60

Weighted-average discount rate:
 
Operating leases
6.10
%
Finance leases
4.11
%

The table below presents supplemental cash flow information related to leases during the three and six months ended June 30, 2019:
 
Three Months Ended June 30, 2019
 
Six Months Ended June 30, 2019
 
 
 
 
 
(in millions)
Cash paid for amounts included in the measurement of lease liabilities:
 
 
 
Operating cash flows for operating leases (1)
$
7

 
$
14

(1)
Operating and financing cash flows for finance leases were not material for the three and six months ended ended June 30, 2019.

The table below reconciles the undiscounted future minimum lease payments to the lease liabilities recorded on the balance sheet as of June 30, 2019:
 
Operating Leases
 
Finance Leases
 
Total
 
 
 
 
 
 
 
(in millions)
Remainder of 2019
$
13

 
$
1

 
$
14

2020
26

 
2

 
28

2021
24

 
2

 
26

2022
20

 
2

 
22

2023
14

 
2

 
16

Thereafter
49

 
9

 
58

Total future minimum lease payments
146

 
18

 
164

Less: amount of lease payments representing interest
(26
)
 
(3
)
 
(29
)
Total lease liabilities
$
120

 
$
15

 
$
135



As of June 30, 2019, the Company has an additional lease that has not yet commenced totaling $14 million of undiscounted future minimum lease payments. This lease will commence in 2020 with a lease term of 11 years.
v3.19.2
Warranty Obligations
6 Months Ended
Jun. 30, 2019
Product Warranties Disclosures [Abstract]  
Warranty Obligations WARRANTY OBLIGATIONS
Delphi Technologies has recognized its best estimate for its total aggregate warranty reserves, including product recall costs, across all of its operating segments as of June 30, 2019. The Company estimates the reasonably possible amount to ultimately resolve all matters in excess of the recorded reserves as of June 30, 2019 to be $0 million to $5 million.
The table below summarizes the activity in the product warranty liability for the six months ended June 30, 2019:
 
Warranty Obligations
 
 
 
(in millions)
Accrual balance at beginning of period
$
96

Provision for estimated warranties incurred during the period
19

Changes in estimate for pre-existing warranties

Settlements made during the period (in cash or in kind)
(30
)
Foreign currency translation and other

Accrual balance at end of period
$
85


v3.19.2
Restructuring
6 Months Ended
Jun. 30, 2019
Restructuring and Related Activities [Abstract]  
Restructuring RESTRUCTURING
The Company’s restructuring activities are undertaken as necessary to implement management’s strategy, streamline operations, take advantage of available capacity and resources, and ultimately achieve net cost reductions. These activities generally relate to the realignment of existing manufacturing capacity and closure of facilities and other exit or disposal activities, as it relates to executing Delphi Technologies’ strategy, either in the normal course of business or pursuant to significant restructuring programs.
As part of the Company’s continued efforts to optimize its cost structure, it has undertaken several restructuring programs which include workforce reductions as well as plant closures. These programs are primarily focused on the continued rotation of our manufacturing footprint to best-cost locations in Europe and on reducing global overhead costs. The Company recorded employee-related and other restructuring charges related to these programs totaling approximately $5 million and $8 million during the three and six months ended June 30, 2019, respectively. The Company recorded employee-related and other restructuring charges related to these programs totaling approximately $12 million and $23 million during the three and six months ended June 30, 2018, respectively, of which $5 million and $13 million was recognized for programs focused on the continued rotation of our manufacturing footprint to best cost locations in Europe.
Restructuring charges for employee separation and termination benefits are paid either over the severance period or in a lump sum in accordance with either statutory requirements or individual agreements. Delphi Technologies incurred cash expenditures related to its restructuring programs of approximately $19 million and $40 million in the six months ended June 30, 2019 and 2018, respectively.
The following table summarizes the restructuring charges recorded for the three and six months ended June 30, 2019 and 2018 by operating segment:
 
Three Months Ended June 30,
 
Six Months Ended June 30,
 
2019
 
2018
 
2019
 
2018
 
 
 
 
 
 
 
 
 
(in millions)
Powertrain Systems
$
4

 
$
11

 
$
7

 
$
22

Aftermarket
1

 
1

 
1

 
1

Total
$
5

 
$
12

 
$
8

 
$
23


The table below summarizes the activity in the restructuring liability for the six months ended June 30, 2019:
 
Employee Termination Benefits Liability
 
Other Exit Costs Liability
 
Total
 
 
 
 
 
 
 
(in millions)
Accrual balance at December 31, 2018
$
64

 
$
1

 
$
65

Provision for estimated expenses during the period
8

 

 
8

Payments made during the period
(19
)
 

 
(19
)
Foreign currency and other
(1
)
 

 
(1
)
Accrual balance at June 30, 2019
$
52

 
$
1

 
$
53


v3.19.2
Debt
6 Months Ended
Jun. 30, 2019
Debt Disclosure [Abstract]  
Debt DEBT
The following is a summary of debt outstanding, net of unamortized issuance costs and discounts, as of June 30, 2019 and December 31, 2018, respectively:
 
June 30, 2019
 
December 31, 2018
 
(in millions)
$750 million Term Loan A Facility, due 2022 (net of $3 and $4 unamortized issuance costs)
$
709

 
$
727

$800 million Senior Notes at 5.00%, due 2025 (net of $11 and $12 unamortized issuance costs and $3 and $3 discount, respectively)
786

 
785

Finance lease liabilities and other
19

 
19

Total debt
1,514

 
1,531

Less: current portion
(39
)
 
(43
)
Long-term debt
$
1,475

 
$
1,488


Credit Agreement
On September 7, 2017, Delphi Technologies and its wholly-owned subsidiary Delphi Powertrain Corporation entered into a credit agreement (the “Credit Agreement”) with JPMorgan Chase Bank, N.A., as administrative agent (the “Administrative Agent”), with respect to $1.25 billion in senior secured credit facilities. The Credit Agreement consists of a senior secured five-year $750 million term loan facility (the “Term Loan A Facility”) and a $500 million five-year senior secured revolving credit facility (the “Revolving Credit Facility”) (collectively, the “Credit Facilities”) with the lenders party thereto and JPMorgan Chase Bank, N.A. We incurred $9 million of issuance costs in connection with the Credit Agreement. As of June 30, 2019, there were no amounts drawn on the Revolving Credit Facility.
The Credit Agreement contains certain affirmative and negative covenants customary for financings of this type that, among other things, limit our and our subsidiaries’ ability to incur additional indebtedness or liens, to dispose of assets, to make certain fundamental changes, to designate subsidiaries as unrestricted, to make certain investments, to prepay certain indebtedness and to pay dividends, or to make other distributions or redemptions/repurchases, with respect to our and our subsidiaries’ equity interests. In addition, the Credit Agreement requires that we maintain a consolidated net leverage ratio (the ratio of Consolidated Total Indebtedness to Consolidated Adjusted EBITDA, each as defined in the Credit Agreement) of not greater than 3.5 to 1.0. The Credit Agreement also contains events of default customary for financings of this type, including certain customary change of control events. The Company was in compliance with the Credit Agreement covenants as of June 30, 2019.
Senior Notes
On September 28, 2017, Delphi Technologies PLC issued $800 million in aggregate principal amount of 5.00% senior unsecured notes due 2025 in a transaction exempt from registration under the Securities Act (the “Senior Notes”).
The Senior Notes indenture contains certain restrictive covenants, including with respect to Delphi Technologies’ (and subsidiaries) ability to incur liens, enter into sale and leaseback transactions and merge with or into other entities. The Company was in compliance with the Senior Notes covenants as of June 30, 2019.
Other Financing
Receivable factoring—The Company entered into arrangements with various financial institutions to sell eligible trade receivables from certain Aftermarket customers in North America and Europe. These arrangements can be terminated at any time subject to prior written notice. The receivables under these arrangements are sold to a third party without recourse to the Company and are therefore accounted for as true sales. During the three and six months ended June 30, 2019, $43 million and $74 million of receivables were sold under these arrangements, and expenses of $1 million and $2 million were recognized within interest expense, respectively. During the three and six months ended June 30, 2018, $25 million and $45 million of receivables were sold under these arrangements, and expenses of $1 million and $2 million were recognized within interest expense, respectively.
In addition, during the six months ended June 30, 2019 and June 30, 2018, one of the Company’s European subsidiaries factored, without recourse, receivables related to certain foreign research credits to a financial institution. These transactions were accounted for as true sales of the receivables, and the Company therefore derecognized approximately $21 million and $22 million from other long-term assets in the consolidated balance sheet as of June 30, 2019 and June 30, 2018, respectively,
as a result of these transactions. During the three and six months ended June 30, 2019 and June 30, 2018, less than $1 million of expenses were recognized within interest expense related to this transaction.
Finance leases—There were approximately $15 million and $14 million of finance lease obligations outstanding as of June 30, 2019 and December 31, 2018, respectively.
Interest—Cash paid for interest related to debt outstanding, including the effect of interest rate and cross currency swaps, totaled $35 million and $37 million, for the six months ended June 30, 2019 and 2018, respectively.
v3.19.2
Pension Benefits
6 Months Ended
Jun. 30, 2019
Retirement Benefits [Abstract]  
Pension Benefits PENSION BENEFITS
The Company sponsors defined benefit pension plans for certain employees and retirees outside of the U.S. Using appropriate actuarial methods and assumptions, the Company’s defined benefit pension plans are accounted for in accordance with FASB ASC Topic 715, Compensation—Retirement Benefits. The Company’s primary non-U.S. plans are located in the United Kingdom (“U.K.”), France and Mexico. The U.K. and certain Mexican plans are funded. In addition, the Company has defined benefit plans in South Korea, Turkey and Italy for which amounts are payable to employees immediately upon separation. The obligations for these plans are recorded over the requisite service period. Delphi Technologies does not have any U.S. pension assets or liabilities.
Effective March 31, 2019, the Company has frozen future accruals for nearly all U.K. based employees under the related defined benefit plans, replacing them with contributions under defined contribution plans effective April 1, 2019, including additional contributions and other payments to impacted employees over a two-year transition period. As a result of this change, the Company realized a one-time reduction to its pension obligation of $33 million, along with a one-time charge of $15 million in the six months ended June 30, 2019, related to curtailing the defined benefit pension plans in the U.K. The Company also recognized a charge of $2 million and $9 million in the three and six months ended June 30, 2019, respectively, related to transitional payments to impacted employees. The Company excluded these charges, and expects to exclude related future charges, from our calculation of Adjusted Operating Income.
The amounts shown below reflect the non-U.S. plans’ defined benefit pension expense for the three and six months ended June 30, 2019 and 2018:
 
Three Months Ended June 30,
 
2019
 
2018
 
 
 
 
 
(in millions)
Service cost
$
2

 
$
9

Interest cost
9

 
9

Expected return on plan assets
(15
)
 
(13
)
Amortization of actuarial losses
1

 
6

Net periodic benefit cost
$
(3
)
 
$
11

 
 
 
 
 
Six Months Ended June 30,
 
2019
 
2018
 
 
 
 
 
(in millions)
Service cost
$
9

 
$
19

Interest cost
18

 
18

Expected return on plan assets
(29
)
 
(27
)
Curtailment loss
15

 

Amortization of actuarial losses
5

 
12

Net periodic benefit cost
$
18

 
$
22


Other postretirement benefit obligations were $1 million and $1 million at June 30, 2019 and December 31, 2018, respectively.
v3.19.2
Commitments And Contingencies
6 Months Ended
Jun. 30, 2019
Commitments and Contingencies Disclosure [Abstract]  
Commitments And Contingencies COMMITMENTS AND CONTINGENCIES
Ordinary Business Claims
In the normal course of our business, we are named from time to time as a defendant in various legal actions, including arbitrations, class actions, and other litigation. We also from time to time receive subpoenas and other inquiries or requests for information from U.S. and foreign federal, state and local governments on a variety of matters. We accrue for matters when we believe that losses are probable and can be reasonably estimated. Considering, among other things, the legal defenses available and existing accruals, it is inherently difficult in many matters to determine whether loss is probable or reasonably possible or to estimate the size or range of the possible loss. Accordingly adverse outcomes from such proceedings could exceed the amounts accrued by an amount that could be material to our results of operations or cash flows in any particular reporting period.
We estimate our reasonably possible loss in excess of the amounts accrued for ordinary business claims to be up to $20 million, exclusive of the environmental matters discussed below.
Environmental Matters
Delphi Technologies is subject to the requirements of U.S. federal, state, local and non-U.S. environmental and safety and health laws and regulations. As of June 30, 2019 and December 31, 2018, the undiscounted reserve for environmental investigation and remediation was approximately $3 million (of which $1 million was recorded in accrued liabilities and $2 million was recorded in other long-term liabilities) and $3 million (of which $1 million was recorded in accrued liabilities and $2 million was recorded in other long-term liabilities), respectively. At June 30, 2019, the difference between the recorded liabilities and the reasonably possible range of potential loss was not material.
v3.19.2
Revenue
6 Months Ended
Jun. 30, 2019
Revenue [Abstract]  
Revenue from Contract with Customer [Text Block]
12. REVENUE
Revenue is measured as the amount of consideration the Company expects to receive in exchange for transferring promised goods or services. The Company generally recognizes revenue when it satisfies a performance obligation by transferring control over a product to a customer. From time to time, we enter into pricing agreements with our customers that provide for price reductions, some of which are conditional upon achieving certain criteria. In these instances, revenue is recognized based on the agreed-upon price at the time of shipment.    
Nature of Goods
The majority of our revenue is recorded at a point in time as defined by ASC 606 as the customers obtain control of the product upon title transfer and not as the product is manufactured or developed. For certain customers, based on specific terms and conditions pertaining to termination for convenience, Delphi Technologies concluded that it had an enforceable right to payment for performance completed to date and the products have no alternative use to the Company, which requires the recognition of revenue over time as defined by ASC 606. The impact on both revenue and operating income from recognizing revenue over time instead of point in time is not significant.
The major product groups within the Powertrain Systems operating segment include internal combustion engine products and electronics & electrification products. The major sales channels within the Aftermarket operating segment include aftermarket products sold to independent aftermarket customers and original equipment service customers. The amount of revenue recognized for these products is based on the purchase order price and adjusted for revenue allocated to variable consideration (i.e. estimated rebates and price discounts), as applicable. Our payment terms are based on customary business practices and vary by customer type and products offered. The term between invoicing and when payment is due is not significant.
Disaggregation of Revenue
In the following table, net sales to outside customers, based on the manufacturing location, is disaggregated by primary geographical market:
 
Three Months Ended June 30,
 
Six Months Ended June 30,
 
2019
 
2018
 
2019
 
2018
 
(in millions)
North America
$
314

 
$
349

 
$
652

 
$
705

Europe
520

 
549

 
1,062

 
1,115

Asia Pacific
254

 
300

 
490

 
639

South America
33

 
34

 
68

 
69

Total
$
1,121

 
$
1,232

 
$
2,272

 
$
2,528


The Powertrain Systems segment primarily serves OEMs along with certain Tier 1 suppliers (one that supplies vehicle components directly to manufacturers) and the Aftermarket segment serves independent aftermarket customers and original equipment service customers.
In the following table, net sales is disaggregated by major product group, sales channels and type of customer:
 
Three Months Ended June 30,
 
Six Months Ended June 30,
 
2019
 
2018
 
2019
 
2018
 
(in millions)
Sales to OEMs and Tier 1 customers:
 
 
 
 
 
 
 
Internal combustion engine products
$
705

 
$
749

 
$
1,427

 
$
1,544

Electronics & electrification products
202

 
268

 
438

 
552

Total sales to OEMs and Tier 1 customers (Powertrain Systems segment)
907

 
1,017

 
1,865

 
2,096

 
 
 
 
 
 
 
 
Sales to independent aftermarket customers
159

 
159

 
300

 
314

Sales to original equipment service customers
55

 
56

 
107

 
118

Total sales to aftermarket customers (Aftermarket segment)
$
214

 
$
215

 
$
407

 
$
432

 
 
 
 
 
 
 
 
Total
$
1,121

 
$
1,232

 
$
2,272

 
$
2,528


Contract Balances
As discussed above, certain customers have contracts with specific terms and conditions which require recognition of revenue over time as defined by ASC 606. As of June 30, 2019, the recognition of revenue over time resulted in approximately $1 million of unbilled accounts receivable, which is included in accounts receivable, net. There were no other contract assets or liabilities as of June 30, 2019, as defined by ASC 606.
Return Assets
The Aftermarket segment provides certain customers with a right of return. The Company recognizes an estimated return asset (and adjusts for cost of sales) for the right to recover the products returned by the customer. ASC 606 requires that return assets be presented separately from inventory. As of June 30, 2019 and December 31, 2018, the Company had return assets of $5 million and $7 million, respectively, included in other current assets.
Practical Expedients and Exemptions
For our Powertrain Systems segment, we define the contract with the customer as the combination of a current purchase order and a current production schedule issued by the customer. For our Aftermarket segment, we define the contract with the customer as the combination of a current purchase order and a master agreement with the customer. Although there are instances where the master agreements may extend beyond one year, there are generally no purchase orders with an expected duration beyond a year.
There are generally no performance obligations outstanding beyond a year. The Company generally does not enter into fixed long-term supply agreements. The Company applies the exemption in ASC 606 and does not disclose information about remaining performance obligations that have original expected durations of one year or less.
In addition, the Company applies the practical expedient in ASC 340 and immediately expenses contract acquisition costs when incurred, including sales commissions, because the amortization period would be one year or less.
v3.19.2
Income Taxes
6 Months Ended
Jun. 30, 2019
Income Tax Disclosure [Abstract]  
Income Taxes INCOME TAXES
At the end of each interim period, the Company makes its best estimate of the annual expected effective income tax rate and applies that rate to its ordinary year-to-date earnings or loss. The income tax provision or benefit related to unusual or infrequent items, if applicable, that will be separately reported or reported net of their related tax effects are individually computed and recognized in the interim period in which those items occur. In addition, the effect of changes in enacted tax laws or rates, tax status, judgment on the realizability of a beginning-of-the-year deferred tax asset in future years or income tax contingencies is recognized in the interim period in which the change occurs.
The computation of the annual expected effective income tax rate at each interim period requires certain estimates and assumptions including, but not limited to, the expected pre-tax income (or loss) for the year, projections of the proportion of income (and/or loss) earned and taxed in respective jurisdictions, permanent and temporary differences, and the likelihood of the realizability of deferred tax assets generated in the current year. Jurisdictions with a projected loss for the year or a year-to-date loss for which no tax benefit or expense can be recognized due to a valuation allowance are excluded from the estimated annual effective tax rate. The impact of such an exclusion could result in a higher or lower effective tax rate during a particular quarter, based upon the composition and timing of actual earnings compared to annual projections. The estimates used to compute the provision or benefit for income taxes may change as new events occur, additional information is obtained or as our tax environment changes. To the extent that the expected annual effective income tax rate changes, the effect of the change on prior interim periods is included in the income tax provision in the period in which the change in estimate occurs.
The Company’s income tax expense and effective tax rate for the six months ended June 30, 2019 and 2018 were as follows:
 
Six Months Ended June 30,
 
2019
 
2018
 
 
 
 
 
 
Income tax expense
$
22

 
$
42

Effective tax rate
31
%
 
18
%

The Company’s tax rate is affected by the fact that Delphi Technologies PLC, its parent entity, is a U.K. resident taxpayer, the tax rates in the other jurisdictions in which the Company operates, the relative amount of income earned by jurisdiction and the relative amount of losses or income for which no tax benefit or expense was recognized due to a valuation allowance.
The Company’s effective tax rate for the six months ended June 30, 2019 was impacted by unfavorable changes in geographic income mix in 2019 as compared to 2018. The Company’s effective tax rate for the six months ended June 30, 2019 includes net discrete tax benefit of less than $1 million. The effective tax rate for the six months ended June 30, 2018 was impacted by favorable changes in geographic income mix in 2018 as compared to 2017. The Company’s effective tax rate for the six months ended June 30, 2018 includes net discrete tax expense of $2 million.
Delphi Technologies PLC is a U.K. resident taxpayer and as such is generally not subject to U.K. tax on remitted foreign earnings.
Cash paid or withheld for income taxes was $28 million and $51 million for the six months ended June 30, 2019 and 2018 respectively.
v3.19.2
Shareholders' Equity And Net Income Per Share
6 Months Ended
Jun. 30, 2019
Shareholders' Equity and Net Income Per Share Note [Abstract]  
Shareholders' Equity And Net Income Per Share SHAREHOLDERS’ EQUITY AND NET INCOME PER SHARE
Net Income Per Share
Basic net income per share is computed by dividing net income attributable to Delphi Technologies by the weighted average number of ordinary shares outstanding during the period. Diluted net income per share reflects the weighted average dilutive impact of all potentially dilutive securities from the date of issuance and is computed using the treasury stock method by dividing net income attributable to Delphi Technologies by the diluted weighted average number of ordinary shares outstanding. For all periods presented the calculation of net income per share contemplates the dilutive impacts, if any, of the Company’s share-based compensation plans. Refer to Note 19. Share-Based Compensation for additional information.
Weighted Average Shares
The following table illustrates net income per share attributable to Delphi Technologies and the weighted average shares outstanding used in calculating basic and diluted income per share:
 
Three Months Ended June 30,
 
Six Months Ended June 30,
 
2019
 
2018
 
2019
 
2018
 
 
 
 
 
 
 
 
 
(in millions, except per share data)
Numerator:
 
 
 
 
 
 
 
Net income attributable to Delphi Technologies
$
27

 
$
86

 
$
43

 
$
184

Denominator:
 
 
 
 
 
 
 
Weighted average ordinary shares outstanding, basic
87.77

 
88.78

 
88.11

 
88.75

Dilutive shares related to restricted stock units (“RSUs”)
0.34

 
0.27

 
0.22

 
0.23

Weighted average ordinary shares outstanding, including dilutive shares
88.11

 
89.05

 
88.33

 
88.98

 
 
 
 
 
 
 
 
Net income per share attributable to Delphi Technologies:
 
 
 
 
 
 
 
Basic
$
0.31

 
$
0.97

 
$
0.49

 
$
2.07

Diluted
$
0.31

 
$
0.97

 
$
0.49

 
$
2.07

Anti-dilutive securities share impact

 

 

 


Share Repurchases
In July 2018, the Board of Directors approved a $100 million share repurchase authorization, which commenced in September 2018. This authorization was replaced by a new $200 million share repurchase program in January 2019 which was approved by the Board of Directors. Repurchases will be made at management’s discretion from time to time on the open market or through privately negotiated transactions. The repurchase program may be suspended for periods or discontinued at any time. Repurchases under this program will be funded from one or a combination of future free cash flow and existing cash balances. The program is expected to be completed by December 31, 2021.
A summary of the ordinary shares repurchased during the three and six months ended June 30, 2019 and 2018 is as follows:
 
Three Months Ended June 30,
 
Six Months Ended June 30,
 
2019
 
2018
 
2019
 
2018
Total number of shares repurchased
845,959

 

 
1,583,876

 

Average price paid per share
$
17.73

 
$

 
$
18.94

 
$

Total (in millions)
$
15

 
$

 
$
30

 
$


All repurchased shares were retired and returned to authorized but unissued shares. The repurchased shares are reflected as a reduction of ordinary share capital for the par value of the shares, with the excess applied as reductions to additional paid-in-capital and retained earnings.
v3.19.2
Changes in Accumulated Other Comprehensive Income
6 Months Ended
Jun. 30, 2019
Accumulated Other Comprehensive Income (Loss), Net of Tax [Abstract]  
Changes in Accumulated Other Comprehensive Income CHANGES IN ACCUMULATED OTHER COMPREHENSIVE INCOME (LOSS)
The changes in accumulated other comprehensive income (loss) attributable to Delphi Technologies (net of tax) for the three and six months ended June 30, 2019 and 2018 are shown below.
 
Three Months Ended June 30,
 
Six Months Ended June 30,
 
2019
 
2018
 
2019
 
2018
 
 
 
 
 
 
 
 
 
(in millions)
Foreign currency translation adjustments:
 
 
 
 
 
 
 
Balance at beginning of period
$
(157
)
 
$
(56
)
 
$
(165
)
 
$
(85
)
Aggregate adjustment for the period (1)
(13
)
 
(81
)
 
(5
)
 
(52
)
Balance at end of period
(170
)
 
(137
)
 
(170
)
 
(137
)
 
 
 
 
 
 
 
 
Gains (losses) on derivatives:
 
 
 
 
 
 
 
Balance at beginning of period
14

 
(1
)
 
(2
)
 

Other comprehensive income before reclassifications (net tax effect of $0, $0, $0 and $0)
(7
)
 
3

 
11

 
2

Reclassification to income (net tax effect of $0, $0, $0 and $0)
(2
)
 

 
(4
)
 

Balance at end of period
5

 
2

 
5

 
2

 
 
 
 
 
 
 
 
Pension and postretirement plans:
 
 
 
 
 
 
 
Balance at beginning of period
(211
)
 
(294
)
 
(245
)
 
(286
)
Other comprehensive income before reclassifications (net tax effect of $3, $6, $5 and $4)
8

 
19

 
27

 
6

Reclassification to income (net tax effect of $0, $1, $4 and $2)
1

 
5

 
16

 
10

Balance at end of period
(202
)
 
(270
)
 
(202
)
 
(270
)
 
 
 
 
 
 
 
 
Accumulated other comprehensive loss, end of period
$
(367
)
 
$
(405
)
 
$
(367
)
 
$
(405
)
(1)
Includes gains of $5 million and gains of $2 million, for the three and six months ended June 30, 2019, respectively, related to the foreign currency impact of intra-entity loans that are of a long-term investment nature. Also includes losses of $12 million and $5 million, for the three and six months ended June 30, 2018, respectively, related to the foreign currency impact of intra-entity loans that are of a long-term investment nature. During the three and six months ended June 30, 2019 there were losses of $5 million and losses of $1 million, respectively, related to non-derivative net investment hedges. During the three and six months ended June 30, 2018 there were losses of less than $1 million and $1 million, respectively, related to non-derivative net investment hedges. Refer to Note 16. Derivatives and Hedging Activities for further description of these hedges.
Reclassifications from accumulated other comprehensive income (loss) to income for the six months ended June 30, 2019 and 2018 were as follows:
Reclassification Out of Accumulated Other Comprehensive Income (Loss)
Details About Accumulated Other Comprehensive Income (Loss) Components
 
Three Months Ended June 30,
 
Six Months Ended June 30,
 
Affected Line Item in the Statement of Operations
 
2019
 
2018
 
2019
 
2018
 
 
 
 
 
 
 
 
 
 
 
 
 
 
(in millions)
 
 
Pension and postretirement plans:
 
 
 
 
 
 
 
 
 
 
Actuarial losses
 
$
(1
)
 
$
(6
)
 
$
(5
)
 
$
(12
)
 
Other income (expense), net (1)
Curtailment
 

 

 
(15
)
 

 
Other income (expense), net (1)
 
 
(1
)
 
(6
)
 
(20
)
 
(12
)
 
Income before income taxes
 
 

 
1

 
4

 
2

 
Income tax expense
 
 
(1
)
 
(5
)
 
(16
)
 
(10
)
 
Net income
 
 

 

 

 

 
Net income attributable to noncontrolling interest
 
 
$
(1
)
 
$
(5
)
 
$
(16
)
 
$
(10
)
 
Net income attributable to Delphi Technologies
(1)
These accumulated other comprehensive loss components are included in the computation of net periodic pension cost (see Note 10. Pension Benefits for additional details).

Refer to Note. 16 Derivatives and Hedging Activities for additional reclassifications from accumulated other comprehensive income (loss) to income.
v3.19.2
Derivatives And Hedging Activities
6 Months Ended
Jun. 30, 2019
Derivative Instruments and Hedging Activities Disclosure [Abstract]  
Derivative Instruments and Hedging Activities DERIVATIVES AND HEDGING ACTIVITIES
Cash Flow Hedges
Delphi Technologies is exposed to market risk, such as fluctuations in foreign currency exchange rates, commodity prices and changes in interest rates, which may result in cash flow risks. To manage the volatility relating to these exposures, Delphi Technologies aggregates the exposures on a consolidated basis to take advantage of natural offsets. For exposures that are not offset within its operations, Delphi Technologies enters into various derivative transactions pursuant to its risk management policies, which prohibit holding or issuing derivative financial instruments for speculative purposes, and designation of derivative instruments is performed on a transaction basis to support hedge accounting. The changes in fair value of these hedging instruments are offset in part or in whole by corresponding changes in the fair value or cash flows of the underlying exposures being hedged. Delphi Technologies assesses the initial and ongoing effectiveness of its hedging relationships in accordance with its documented policy.
In December 2018, the Company entered into interest rate swap agreements, designated as cash flow hedges, with a combined notional amount of $400 million where the variable rates under the Term Loan A Facility have been exchanged for a fixed rate. These interest rate swap agreements mature in September 2022 and convert the nature of $400 million of the loan from LIBOR floating-rate debt to fixed-rate debt.
As of June 30, 2019, the Company had the following outstanding notional amounts related to foreign currency forward contracts designated as cash flow hedges that were entered into to hedge forecasted exposures:
Foreign Currency
 
Quantity
Hedged
 
Unit of
Measure
 
Notional Amount
(USD Equivalent)
 
 
(in millions)
Chinese Yuan
 
814

 
RMB
 
$
120

Euro
 
88

 
EUR
 
100

Mexican Peso
 
966

 
MXN
 
50

Singapore Dollar
 
47

 
SGD
 
30

Polish Zloty
 
104

 
PLN
 
30

Turkish Lira
 
114

 
TRY
 
20


As of June 30, 2019, Delphi Technologies has entered into derivative instruments to hedge cash flows extending out to September 2022.
Gains and losses on derivatives qualifying as cash flow hedges are recorded in accumulated other comprehensive income (“OCI”), to the extent that hedges are effective, until the underlying transactions are recognized in earnings. Unrealized amounts in accumulated OCI will fluctuate based on changes in the fair value of hedge derivative contracts at each reporting period. Net losses on cash flow hedges included in accumulated OCI as of June 30, 2019 were approximately $6 million (approximately $6 million, net of tax). Of this total, approximately $1 million of gains are expected to be included in cost of sales and interest expense within the next 12 months and $7 million of losses are expected to be included in cost of sales and interest expense in subsequent periods. Cash flow hedges are discontinued when Delphi Technologies determines it is no longer probable that the originally forecasted transactions will occur. Cash flows from derivatives used to manage foreign exchange and interest rate risks are classified as operating activities within the consolidated statement of cash flows.
Net Investment Hedges
The Company is also exposed to the risk that adverse changes in foreign currency exchange rates could impact its net investment in non-U.S. subsidiaries. To manage this risk, the Company designated a qualifying non-derivative instrument, foreign currency-denominated debt, as a net investment hedge of certain non-U.S. subsidiaries. The gains or losses on instruments designated as net investment hedges are recognized within OCI to offset changes in the value of the net investment in these foreign currency-denominated operations. Gains and losses reported in accumulated other comprehensive income (loss) are reclassified to earnings only when the related currency translation adjustments are required to be reclassified, usually upon sale or liquidation of the investment.
In December 2018 and March 2019, as a means of managing foreign currency risk related to our significant operations in Europe, the Company executed fixed-for-fixed cross currency swaps, in which the Company will pay Euros and receive U.S. dollars with a combined notional amount of $600 million. These agreements are designated as net investment hedges and have a maturity date of September 2022.
Derivatives Not Designated as Hedges
On certain occasions the Company enters into certain foreign currency contracts that are not designated as hedges. When hedge accounting is not applied to derivative contracts, gains and losses are recorded to other income (expense), net and cost of sales in the consolidated statement of operations.
Fair Value of Derivative Instruments in the Balance Sheet
The following table includes the fair value of derivative instruments recorded in the consolidated balance sheets as of June 30, 2019 and December 31, 2018:
 
Asset Derivatives
 
Liability Derivatives
 
Balance Sheet Location*
 
June 30,
2019
 
December 31,
2018
 
Balance Sheet Location*
 
June 30,
2019
 
December 31,
2018
 
 
 
 
 
 
 
 
 
 
 
 
 
(in millions)
Designated as cash flow hedges:
 
 
 
 
 
 
 
 
 
 
Foreign currency derivatives
Other current assets
 
$
5

 
$
5

 
Other current assets
 
$

 
$
1

Foreign currency derivatives
Other long-term assets
 
1

 

 
Other long-term assets
 

 

Interest rate swaps
Other long-term liabilities
 

 

 
Other long-term liabilities
 
12

 
3

 
 
 
 
 
 
 
 
 
 
 
 
Designated as net investment hedges:
 
 
 
 
 
 
 
 
 
 
Cross-currency swaps
Other long-term assets
 
4

 

 
Other long-term assets
 

 

Cross-currency swaps
Other long-term liabilities
 
7

 

 
Other long-term liabilities
 

 
3

Total designated as hedges
 
$
17

 
$
5

 
 
 
$
12

 
$
7

 
 
 
 
 
 
 
 
 
 
 
 
Derivatives not designated as hedges:
 
 
 
 
 
 
 
 
 
 
Foreign currency derivatives
Other current assets
 
$
1

 
$

 
Other current assets
 
$

 
$

Total not designated as hedges
 
$
1

 
$

 
 
 
$

 
$

* Derivative instruments are subject to master netting arrangements and are presented on a net basis in the consolidated balance sheets in accordance with accounting guidance related to the offsetting of amounts related to certain contracts.
The fair value of Delphi Technologies’ derivative financial instruments was in a net asset position as of June 30, 2019 and a net liability position as of December 31, 2018.
Effect of Derivatives on the Statement of Operations and Statement of Comprehensive Income
The pre-tax effect of the derivative financial instruments in the consolidated statement of operations and consolidated statement of comprehensive income for the three and six months ended June 30, 2019 and 2018 is as follows:
Three Months Ended June 30, 2019
Gain (Loss) Recognized in OCI
 
Gain Reclassified from OCI into Income
 
 
 
 
 
(in millions)
Derivatives designated as cash flow hedges:
 
 
 
Foreign currency derivatives
$
4

 
$
2

Interest rate swaps
(9
)
 

Derivatives designated as net investment hedges:
 
 
 
Cross-currency swaps
(2
)
 

Total
$
(7
)
 
$
2

 
 
 
 
 
 
 
Gain Recognized in Income
 
 
 
 
 
 
 
(in millions)
Derivatives not designated
 
$
2

Total
 
$
2

 
 
 
 
Three Months Ended June 30, 2018
Gain Recognized in OCI
 
Gain Reclassified from OCI into Income
 
 
 
(in millions)
Derivatives designated as cash flow hedges:
 
 
 
Foreign currency derivatives
$
3

 
$

Total
$
3

 
$

 
 
 
 
 
 
 
Loss Recognized in Income
 
 
 
 
 
 
 
(in millions)
Derivatives not designated
 
 
$
4

Total
 
 
$
4

Six Months Ended June 30, 2019
Gain (Loss) Recognized in OCI
 
Gain Reclassified from OCI into Income
 
 
 
 
 
(in millions)
Derivatives designated as cash flow hedges:
 
 
 
Foreign currency derivatives
$
6

 
$
4

Interest rate swaps
(9
)
 

Derivatives designated as net investment hedges:
 
 
 
Cross-currency swaps
14

 

Total
$
11

 
$
4

 
 
 
 
 
 
 
Loss Recognized in Income
 
 
 
(in millions)
Derivatives not designated
 
$

Total
 
$

 
 
 
 
Six Months Ended June 30, 2018
Gain Recognized in OCI
 
Gain Reclassified from OCI into Income
 
 
 
 
 
(in millions)
Derivatives designated as cash flow hedges:
 
 
 
Foreign currency derivatives
$
2

 
$

Total
$
2

 
$

 
 
 
 
 
 
 
Loss Recognized in Income
 
 
 
(in millions)
Derivatives not designated
 
 
$
8

Total
 
 
$
8


The gain or loss recognized into income for designated derivative instruments were recorded to cost of sales in the consolidated statements of operations for the periods presented above. The gain or loss recognized into income for derivative instruments not designated were recorded to other income, net and cost of sales in the consolidated statements of operations for the periods presented above.
v3.19.2
Fair Value of Financial Instrument
6 Months Ended
Jun. 30, 2019
Fair Value Disclosures [Abstract]  
Fair Value Disclosures [Text Block] FAIR VALUE OF FINANCIAL INSTRUMENTS
Fair Value Measurements on a Recurring Basis
Derivative instruments—All derivative instruments are required to be reported on the balance sheet at fair value unless the transactions qualify and are designated as normal purchases or sales. Changes in fair value are reported currently through earnings unless they meet hedge accounting criteria. Delphi Technologies’ derivative exposures are with counterparties with long-term investment grade credit ratings. Delphi Technologies estimates the fair value of its derivative contracts using an income approach based on valuation techniques to convert future amounts to a single, discounted amount. Estimates of the fair value of foreign currency derivative instruments, interest rate swaps and cross-currency swaps are determined using exchange traded prices and rates. Delphi Technologies also considers the risk of non-performance in the estimation of fair value, and includes an adjustment for non-performance risk in the measure of fair value of derivative instruments. The non-performance risk adjustment reflects the credit default spread (“CDS”) applied to the foreign currency exposures by counterparty. When Delphi Technologies is in a net derivative asset position, the counterparty CDS rates are applied to the net derivative asset position. When Delphi Technologies is in a net derivative liability position, estimates of peer companies’ CDS rates are applied to the net derivative liability position.
In certain instances where market data is not available, Delphi Technologies uses management judgment to develop assumptions that are used to determine fair value. This could include situations of market illiquidity for a particular currency or commodity or where observable market data may be limited. In those situations, Delphi Technologies generally surveys investment banks and/or brokers and utilizes the surveyed prices and rates in estimating fair value.
As of June 30, 2019 Delphi Technologies was in a net derivative asset position of $6 million. As of December 31, 2018 Delphi Technologies was in a net derivative liability position of $2 million. No significant adjustments were recorded for nonperformance risk based on the application of peer companies’ CDS rates, evaluation of our own nonperformance risk and because Delphi Technologies’ exposures were to counterparties with investment grade credit ratings. Refer to Note 16. Derivatives and Hedging Activities for further information regarding derivatives.
As of June 30, 2019 and December 31, 2018 Delphi Technologies had the following derivative assets measured at fair value on a recurring basis:
 
Total
 
Quoted Prices in Active Markets
Level 1
 
Significant Other Observable Inputs
Level 2
 
Significant Unobservable Inputs
Level 3
 
 
 
 
 
 
 
 
 
(in millions)
As of June 30, 2019:
 
 
 
 
 
 
 
Foreign currency derivatives
$
7

 
$

 
$
7

 
$

Cross-currency swaps*
4

 

 
4

 

Total
$
11

 
$

 
$
11

 
$

As of December 31, 2018:
 
 
 
 
 
 
 
Foreign currency derivatives
$
4

 
$

 
$
4

 
$

Total
$
4

 
$

 
$
4

 
$

* Derivative instruments are subject to master netting arrangements and are presented on a net basis in the consolidated balance sheets in accordance with accounting guidance related to the offsetting of amounts related to certain contracts.
As of June 30, 2019 and December 31, 2018 Delphi Technologies had the following derivative liabilities measured at fair value on a recurring basis:
 
Total
 
Quoted Prices in Active Markets
Level 1
 
Significant Other Observable Inputs
Level 2
 
Significant Unobservable Inputs
Level 3
 
 
 
 
 
 
 
 
 
(in millions)
As of June 30, 2019:
 
Interest rate swaps*
$
12

 
$

 
$
12

 
$

Cross-currency swaps*
(7
)
 

 
(7
)
 

Total
$
5

 
$

 
$
5

 
$

As of December 31, 2018:
 
 
 
 
 
 
 
Interest rate swaps*
$
3

 
$

 
$
3

 
$

Cross-currency swaps*
3

 

 
3

 

Total
$
6

 
$

 
$
6

 
$


* Derivative instruments are subject to master netting arrangements and are presented on a net basis in the consolidated balance sheets in accordance with accounting guidance related to the offsetting of amounts related to certain contracts.
Non-derivative financial instruments—Delphi Technologies’ non-derivative financial instruments include cash and cash equivalents, accounts and notes receivable, accounts payable, as well as debt, which consists of finance lease liabilities, the Senior Notes, the Term Loan A Facility and other debt issued by Delphi Technologies’ non-U.S. subsidiaries. The fair value of debt is based on quoted market prices for instruments with public market data or significant other observable inputs for instruments without a quoted public market price (Level 2). As of June 30, 2019 and December 31, 2018, total debt was recorded at $1,514 million and $1,531 million, respectively, and had estimated fair values of $1,433 million and $1,415 million, respectively. For all other financial instruments recorded at June 30, 2019 and December 31, 2018, fair value approximates book value.
Fair Value Measurements on a Nonrecurring Basis
In addition to items that are measured at fair value on a recurring basis, Delphi Technologies also has items in its balance sheet that are measured at fair value on a nonrecurring basis. As these items are not measured at fair value on a recurring basis, they are not included in the tables above. Nonfinancial assets and liabilities that are measured at fair value on a nonrecurring basis include certain long-lived assets, equity method investments, other equity investments, intangible assets, asset retirement obligations, share-based compensation and liabilities for exit or disposal activities measured at fair value upon initial
recognition. During the three and six months ended June 30, 2019, Delphi Technologies recorded non-cash asset impairment charges totaling $5 million and $8 million, respectively, within selling, general and administrative and amortization related to certain fixed assets and intangible assets. During the three and six months ended June 30, 2018, Delphi Technologies recorded non-cash asset impairment charges totaling $1 million and $1 million, respectively, within cost of sales related to declines in the fair values of certain intangible assets and fixed assets. Fair value of long-lived assets is determined primarily using the anticipated cash flows discounted at a rate commensurate with the risk involved and a review of appraisals. As such, Delphi Technologies has determined that the fair value measurements of long-lived assets fall in Level 3 of the fair value hierarchy.
v3.19.2
Other Income, Net
6 Months Ended
Jun. 30, 2019
Other Income and Expenses [Abstract]  
Other Income, Net OTHER INCOME, NET
Other income (expense), net included:
 
Three Months Ended June 30,
 
Six Months Ended June 30,
 
2019
 
2018
 
2019
 
2018
 
 
 
 
 
 
 
 
 
(in millions)
Interest income
$
2

 
$
2

 
$
4

 
$
3

Components of net periodic benefit cost other than service cost (Note 10)
5

 
(2
)
 
(9
)
 
(3
)
Other, net
1

 
4

 
1

 
10

Other income (expense), net
$
8

 
$
4

 
$
(4
)
 
$
10


v3.19.2
Share-Based Compensation
6 Months Ended
Jun. 30, 2019
Share-based Payment Arrangement [Abstract]  
Share-Based Compensation SHARE-BASED COMPENSATION
Long Term Incentive Plan
The Delphi Technologies PLC Long-Term Incentive Plan (the “PLC LTIP”) allows for the grant of share-based awards (up to 7,500,000 ordinary shares) for long-term compensation to the employees, directors, consultants and advisors of the Company. The awards can be in the form of shares, options, stock appreciation rights, restricted stock, restricted stock units (“RSUs”), performance awards, and other share-based awards.
Board of Director Awards
On April 26, 2018, Delphi Technologies granted 34,756 RSUs to the Board of Directors at a grant date fair value of approximately $2 million. The RSUs vested on April 24, 2019, and 33,944 ordinary shares, which included shares issued in connection with dividend equivalents, were issued to members of the Board of Directors at a fair value of approximately $1 million.

On April 25, 2019, Delphi Technologies granted 70,924 RSUs to the Board of Directors at a grant date fair value of approximately $2 million. The RSUs will vest on April 22, 2020, the day before the 2020 annual meeting of shareholders.

Executive Awards
The executive RSU awards include a time-based vesting portion and a performance-based vesting portion, as well as continuity awards in certain years. The time-based RSUs, which make up 33% of the awards for the Company’s senior management and 50% for other executives, vest ratably over three years beginning on the first anniversary of the grant date. The performance-based RSUs, which make up 67% of the awards for the Company’s senior management and 50% for other executives, vest at the completion of a three-year performance period if certain targets are met. Each executive will receive between 0% and 200% of his or her target performance-based award based on the Company’s performance against established company-wide performance metrics.
The details of the executive grant are as follows:
Grant Date
 
RSUs Granted
 
Grant Date Fair Value
 
Time-Based Award Vesting Dates
 
Performance-Based Award Vesting Date
 
 
(in millions)
 
 
 
 
February 2019
 
1.0
 
$27
 
Annually on the anniversary grant date, 2020-2022
 
December 31, 2021
February 2018
 
0.3
 
$16
 
Annually on the anniversary grant date, 2019-2021
 
December 31, 2020

The grant date fair value of the RSUs is determined based on the target number of awards issued, the closing price of the Company’s ordinary shares on the date of the grant of the award, including an estimate for forfeitures, and a contemporaneous valuation performed by an independent valuation specialist with respect to the relative total shareholder return awards.
A summary of activity, including award grants, vesting and forfeitures for Delphi Technologies employees is provided below.
 
RSUs
 
Weighted Average Grant Date Fair Value
 
(in thousands)
 
 
Nonvested, January 1, 2019
679

 
$
42.70

Granted
1,210

 
24.87

Vested
(172
)
 
43.41

Forfeited
(46
)
 
32.83

Nonvested, June 30, 2019
1,671

 
28.47


During the six months ended ended June 30, 2019, the Company entered into an individual one-time award of non-qualified stock options to purchase ordinary shares of the Company, which options had a grant date fair value of $3 million based on a contemporaneous valuation performed by an independent valuation specialist. The options become exercisable in equal parts annually over a 5-year period commencing on the first anniversary of the grant. The options will be exercisable, subject to vesting, for a period of 10 years after the grant date.
Share-based compensation expense recorded within the consolidated statement of operations was $5 million ($5 million, net of tax) and $9 million ($9 million, net of tax) based on the Company’s best estimate of ultimate performance against the respective targets during the three and six months ended June 30, 2019, respectively. Share-based compensation expense recorded within the consolidated statement of operations was $5 million ($5 million, net of tax) and $10 million ($10 million, net of tax) based on the Company’s best estimate of ultimate performance against the respective targets during the three and six months ended June 30, 2018, respectively.
The Company will continue to recognize compensation expense, based on the grant date fair value of the awards applied to the Company’s best estimate of ultimate performance against the respective targets, over the requisite vesting periods of the awards. Based on the grant date fair value of the awards and the Company’s best estimate of ultimate performance against the respective targets as of June 30, 2019, unrecognized compensation expense on a pretax basis of approximately $33 million is anticipated to be recognized over a weighted average period of approximately 2 years.
v3.19.2
Segment Reporting
6 Months Ended
Jun. 30, 2019
Segment Reporting [Abstract]  
Segment Reporting SEGMENT REPORTING
Delphi Technologies operates its core business along the following operating segments, which are grouped on the basis of similar product, market and operating factors:
Powertrain Systems, which manufactures high quality components and complete engine management systems to help optimize performance, emissions and fuel economy. The products include fuel injection systems as well as various other powertrain products including valvetrain, fuel delivery modules, ignition coils, canisters, sensors, valves and actuators. This segment also offers electronic control modules and corresponding software, algorithms and calibration that provide centralized and reliable management of various powertrain components. Additionally, we provide power electronics solutions that include supervisory controllers and software, along with DC/DC converters inverters and on-board chargers that convert electricity to enable hybrid and electric vehicle propulsion systems.
Aftermarket, which sells aftermarket products to independent aftermarket and original equipment service customers. This segment also supplies a wide range of aftermarket products and services covering the fuel injection, electronics and engine management, maintenance, and test equipment and vehicle diagnostics categories.
Eliminations and Other, which includes the elimination of inter-segment transactions.
The accounting policies of the segments are the same as those of the consolidated Company, except that the disaggregated financial results for the segments have been prepared using a management approach, which is consistent with the basis and manner in which management internally disaggregates financial information for which Delphi Technologies’ chief operating decision maker regularly reviews financial results to assess performance of, and make internal operating decisions about allocating resources to the segments.
Generally, Delphi Technologies evaluates segment performance based on stand-alone segment net income before interest expense, other income (expense), net, income tax expense, equity income, net of tax, restructuring, separation costs, asset impairments and pension charges (“Adjusted Operating Income”) and accounts for inter-segment sales and transfers as if the sales or transfers were to third parties, at current market prices. Delphi Technologies’ management utilizes Adjusted Operating Income as the key performance measure of segment income or loss to evaluate segment performance, and for planning and forecasting purposes to allocate resources to the segments, as management believes this measure is most reflective of the operational profitability or loss of Delphi Technologies’ operating segments. Consolidated Adjusted Operating Income should not be considered a substitute for results prepared in accordance with U.S. GAAP and should not be considered an alternative to net income attributable to Delphi Technologies, which is the most directly comparable financial measure to Adjusted Operating Income that is prepared in accordance with U.S. GAAP. Adjusted Operating Income, as determined and measured by Delphi Technologies, should also not be compared to similarly titled measures reported by other companies.
Included below are sales and operating data for the Company’s segments for the three and six months ended June 30, 2019 and 2018.
 
Powertrain Systems
 
Aftermarket
 
Eliminations
and Other (1)
 
Total
 
 
 
 
 
 
 
 
 
(in millions)
For the Three Months Ended June 30, 2019:
 
 
 
 
 
 
 
Net sales
$
971

 
$
214

 
$
(64
)
 
$
1,121

Depreciation & amortization
$
55

 
$
2

 
$

 
$
57

Adjusted operating income
$
64

 
$
17

 
$

 
$
81

Operating income
$
43

 
$
13

 
$

 
$
56

Equity loss, net of tax
$
(1
)
 
$

 
$

 
$
(1
)
Net income attributable to noncontrolling interest
$
4

 
$

 
$

 
$
4

 
Powertrain Systems
 
Aftermarket
 
Eliminations
and Other (1)
 
Total
 
 
 
 
 
 
 
 
 
(in millions)
For the Three Months Ended June 30, 2018:
 
 
 
 
 
 
 
Net sales
$
1,086

 
$
215

 
$
(69
)
 
$
1,232

Depreciation & amortization
$
47

 
$
1

 
$

 
$
48

Adjusted operating income
$
134

 
$
22

 
$

 
$
156

Operating income
$
105

 
$
17

 
$

 
$
122

Equity income, net of tax
$
3

 
$

 
$

 
$
3

Net income attributable to noncontrolling interest
$
4

 
$

 
$

 
$
4

 
Powertrain Systems
 
Aftermarket
 
Eliminations
and Other (1)
 
Total
 
 
 
 
 
 
 
 
 
(in millions)
For the Six Months Ended June 30, 2019:
 
 
 
 
 
 
 
Net sales
$
1,991

 
$
407

 
$
(126
)
 
$
2,272

Depreciation & amortization
$
107

 
$
3

 
$

 
$
110

Adjusted operating income
$
140

 
$
28

 
$

 
$
168

Operating income
$
90

 
$
21

 
$

 
$
111

Equity income, net of tax
$
1

 
$


$

 
$
1

Net income attributable to noncontrolling interest
$
7

 
$

 
$

 
$
7

 
Powertrain Systems
 
Aftermarket
 
Eliminations
and Other (1)
 
Total
 
 
 
 
 
 
 
 
 
(in millions)
For the Six Months Ended June 30, 2018:
 
 
 
 
 
 
 
Net sales
$
2,239

 
$
432

 
$
(143
)
 
$
2,528

Depreciation & amortization
$
96

 
$
2

 
$

 
$
98

Adjusted operating income
$
276

 
$
39

 
$

 
$
315

Operating income
$
228

 
$
32

 
$

 
$
260

Equity income, net of tax
$
6

 
$

 
$

 
$
6

Net income attributable to noncontrolling interest
$
11

 
$

 
$

 
$
11

(1)
Eliminations and Other includes the elimination of inter-segment transactions.
The reconciliation of Adjusted Operating Income to Operating Income includes, as applicable, restructuring, separation costs, and asset impairments. The reconciliation of Adjusted Operating Income to net income attributable to Delphi Technologies for the three and six months ended June 30, 2019 and 2018 are as follows:
 
Powertrain Systems
 
Aftermarket
 
Eliminations
and Other
 
Total
 
 
 
 
 
 
 
 
 
(in millions)
For the Three Months Ended June 30, 2019:
 
 
 
 
 
 
 
Adjusted operating income
$
64

 
$
17

 
$

 
$
81

Restructuring
(4
)
 
(1
)
 

 
(5
)
Separation costs (1)
(11
)
 
(2
)
 

 
(13
)
Asset impairments
(4
)
 
(1
)
 

 
(5
)
Pension charges (2)
(2
)
 

 

 
(2
)
Operating income
$
43

 
$
13

 
$

 
56

Interest expense
 
 
 
 
 
 
(18
)
Other income, net
 
 
 
 
 
 
8

Income before income taxes and equity income
 
 
 
 
 
 
46

Income tax expense
 
 
 
 
 
 
(14
)
Equity loss, net of tax
 
 
 
 
 
 
(1
)
Net income
 
 
 
 
 
 
31

Net income attributable to noncontrolling interest
 
 
 
 
 
 
4

Net income attributable to Delphi Technologies
 
 
 
 
 
 
$
27

 
Powertrain Systems
 
Aftermarket
 
Eliminations
and Other
 
Total
 
 
 
 
 
 
 
 
 
(in millions)
For the Three Months Ended June 30, 2018:
 
 
 
 
 
 
 
Adjusted operating income
$
134

 
$
22

 
$

 
$
156

Restructuring
(11
)
 
(1
)
 

 
(12
)
Separation costs (1)
(17
)
 
(4
)
 

 
(21
)
Asset impairments
(1
)
 

 

 
(1
)
Operating income
$
105

 
$
17

 
$

 
122

Interest expense
 
 
 
 
 
 
(19
)
Other income, net
 
 
 
 
 
 
4

Income before income taxes and equity income
 
 
 
 
 
 
107

Income tax expense
 
 
 
 
 
 
(20
)
Equity income, net of tax
 
 
 
 
 
 
3

Net income
 
 
 
 
 
 
90

Net income attributable to noncontrolling interest
 
 
 
 
 
 
4

Net income attributable to Delphi Technologies
 
 
 
 
 
 
$
86



 
Powertrain Systems
 
Aftermarket
 
Eliminations
and Other
 
Total
 
 
 
 
 
 
 
 
 
(in millions)
For the Six Months Ended June 30, 2019:
 
 
 
 
 
 
 
Adjusted operating income
$
140

 
$
28

 
$

 
$
168

Restructuring
(7
)
 
(1
)
 

 
(8
)
Separation costs (1)
(27
)
 
(4
)
 

 
(31
)
Asset impairments
(7
)
 
(1
)
 

 
(8
)
Pension charges (2)
(9
)
 
(1
)
 

 
(10
)
Operating income
$
90

 
$
21

 
$

 
111

Interest expense
 
 
 
 
 
 
(36
)
Other expense, net
 
 
 
 
 
 
(4
)
Income before income taxes and equity income
 
 
 
 
 
 
71

Income tax expense
 
 
 
 
 
 
(22
)
Equity income, net of tax
 
 
 
 
 
 
1

Net income
 
 
 
 
 
 
50

Net income attributable to noncontrolling interest
 
 
 
 
 
 
7

Net income attributable to Delphi Technologies
 
 
 
 
 
 
$
43

 
Powertrain Systems
 
Aftermarket
 
Eliminations
and Other
 
Total
 
 
 
 
 
 
 
 
 
(in millions)
For the Six Months Ended June 30, 2018:
 
 
 
 
 
 
 
Adjusted operating income
$
276

 
$
39

 
$

 
$
315

Restructuring
(22
)
 
(1
)
 

 
(23
)
Separation costs (1)
(25
)
 
(6
)
 

 
(31
)
Asset impairments
(1
)
 

 

 
(1
)
Operating income
$
228

 
$
32

 
$

 
260

Interest expense
 
 
 
 
 
 
(39
)
Other income, net
 
 
 
 
 
 
10

Income before income taxes and equity income
 
 
 
 
 
 
231

Income tax expense
 
 
 
 
 
 
(42
)
Equity income, net of tax
 
 
 
 
 
 
6

Net income
 
 
 
 
 
 
195

Net income attributable to noncontrolling interest
 
 
 
 
 
 
11

Net income attributable to Delphi Technologies
 
 
 
 
 
 
$
184

(1)
Separation costs include one-time incremental expenses associated with becoming a stand-alone publicly-traded company.
(2)
Pension charges include additional contributions to defined contribution plans, other payments to impacted employees and other related expenses resulting from the freeze of future accruals for nearly all U.K. defined benefit pension plans.
The Company’s chief operating decision maker recently announced changes to the Company’s organization structure, effective July 2019. As a result of these changes, it is expected that the Company’s chief operating decision maker will make changes to how he assesses the performance of the business and allocates resources. Therefore, the Company anticipates this will result in a change to its operating segments by the filing of the Company’s Form 10-K for the year ended December 31, 2019. As of June 30, 2019 the Company’s chief operating decision maker continues to assess the performance of the business and allocate resources using the operating segments noted above.
v3.19.2
Significant Accounting Policies (Policies)
6 Months Ended
Jun. 30, 2019
Accounting Policies [Abstract]  
Basis of Accounting, Policy [Policy Text Block]
Basis of Presentation
The unaudited consolidated financial statements included herein have been prepared in accordance with accounting principles generally accepted in the United States of America (“U.S. GAAP”) for interim financial information and with the instructions to Form 10-Q and Article 10 of Regulation S-X. Accordingly, they do not include all of the information and footnotes required by U.S. GAAP for complete annual financial statements. These financial statements include all adjustments, which consist of normal recurring items, necessary for a fair presentation. The operating results for interim periods are not necessarily indicative of results that may be expected for any other interim period or for the full year. These financial statements should be read in conjunction with the Delphi Technologies 2018 Annual Report on Form 10-K.

Net Income Per Share, Policy SHAREHOLDERS’ EQUITY AND NET INCOME PER SHARE
Net Income Per Share
Basic net income per share is computed by dividing net income attributable to Delphi Technologies by the weighted average number of ordinary shares outstanding during the period. Diluted net income per share reflects the weighted average dilutive impact of all potentially dilutive securities from the date of issuance and is computed using the treasury stock method by dividing net income attributable to Delphi Technologies by the diluted weighted average number of ordinary shares outstanding. For all periods presented the calculation of net income per share contemplates the dilutive impacts, if any, of the Company’s share-based compensation plans. Refer to Note 19. Share-Based Compensation for additional information.
Lessee, Leases [Policy Text Block]
The Company has applied the practical expedients in ASC 842 related to not separating lease and nonlease components of contracts, both when the Company is a lessee and lessor. In addition, the Company elected the package of practical expedients, related to existing leases at the time of adoption, that allowed the Company to carry forward the accounting assessments for: i) whether contracts are or contain leases, ii) the lease classification and iii) the initial direct costs. Delphi Technologies also elected the practical expedient related to existing land easements, that allowed the Company to carry forward the accounting treatment for land easements in existing agreements.
The Company uses an estimated incremental borrowing rate, which is derived from information available at lease commencement, in determining the present value of lease payments. When calculating the incremental borrowing rates, the Company gives consideration to the applicable margin based on our corporate credit ratings, as defined by the Credit Agreement, as well as publicly available data by country for instruments with similar characteristics.
The adoption of this guidance resulted in the recognition of operating lease right-of-use assets and operating lease liabilities of approximately $117 million and $120 million, respectively, on the Company’s consolidated balance sheet as of June 30, 2019. The adoption did not have a material impact on its consolidated statements of operations or cash flows. Refer to Note 6. Leases for additional information.
Recently Issued Accounting Pronouncements, Policy
Recently adopted accounting pronouncements—In February 2016, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update (“ASU”) 2016-02, Leases (Topic 842). The Company adopted Accounting Standards Codification (“ASC”) 842 as of January 1, 2019 using the optional modified retrospective transition method and did not recast the comparative periods. ASC 842 requires lessees to recognize a lease liability and a right-of-use asset on the balance sheet for all leases, with the exception of short-term leases. For leases that meet the definition of a short-term lease, the Company has elected to apply the short-term lease exemption, and accordingly, they are not recorded on the balance sheet.
The Company has applied the practical expedients in ASC 842 related to not separating lease and nonlease components of contracts, both when the Company is a lessee and lessor. In addition, the Company elected the package of practical expedients, related to existing leases at the time of adoption, that allowed the Company to carry forward the accounting assessments for: i) whether contracts are or contain leases, ii) the lease classification and iii) the initial direct costs. Delphi Technologies also elected the practical expedient related to existing land easements, that allowed the Company to carry forward the accounting treatment for land easements in existing agreements.
The Company uses an estimated incremental borrowing rate, which is derived from information available at lease commencement, in determining the present value of lease payments. When calculating the incremental borrowing rates, the Company gives consideration to the applicable margin based on our corporate credit ratings, as defined by the Credit Agreement, as well as publicly available data by country for instruments with similar characteristics.
The adoption of this guidance resulted in the recognition of operating lease right-of-use assets and operating lease liabilities of approximately $117 million and $120 million, respectively, on the Company’s consolidated balance sheet as of June 30, 2019. The adoption did not have a material impact on its consolidated statements of operations or cash flows. Refer to Note 6. Leases for additional information.
Delphi Technologies adopted ASU 2018-07, Compensation-Stock Compensation (Topic 718): Improvements to Nonemployee Share-Based Payment Accounting in the first quarter of 2019. This guidance expands the scope of ASC Topic 718, which previously only included share-based payments to employees, to include share-based payments issued to nonemployees for goods or services. Consequently, the accounting for share-based payments to nonemployees and employees is now substantially aligned. The adoption of this guidance did not have a material impact on the Company’s consolidated financial statements.
Pensions, Policy The Company sponsors defined benefit pension plans for certain employees and retirees outside of the U.S. Using appropriate actuarial methods and assumptions, the Company’s defined benefit pension plans are accounted for in accordance with FASB ASC Topic 715, Compensation—Retirement Benefits. The Company’s primary non-U.S. plans are located in the United Kingdom (“U.K.”), France and Mexico. The U.K. and certain Mexican plans are funded. In addition, the Company has defined benefit plans in South Korea, Turkey and Italy for which amounts are payable to employees immediately upon separation. The obligations for these plans are recorded over the requisite service period. Delphi Technologies does not have any U.S. pension assets or liabilities
Segment Reporting, Policy [Policy Text Block]
The accounting policies of the segments are the same as those of the consolidated Company, except that the disaggregated financial results for the segments have been prepared using a management approach, which is consistent with the basis and manner in which management internally disaggregates financial information for which Delphi Technologies’ chief operating decision maker regularly reviews financial results to assess performance of, and make internal operating decisions about allocating resources to the segments.
v3.19.2
Inventories (Tables)
6 Months Ended
Jun. 30, 2019
Inventory Disclosure [Abstract]  
Schedule of Inventory
A summary of inventories is shown below:
 
June 30,
2019
 
December 31,
2018
 
 
 
 
 
(in millions)
Productive material
$
250

 
$
250

Work-in-process
48

 
36

Finished goods
255

 
235

Total
$
553

 
$
521


v3.19.2
Assets (Tables)
6 Months Ended
Jun. 30, 2019
Deferred Costs, Capitalized, Prepaid, and Other Assets Disclosure [Abstract]  
Schedule of Other Current Assets
Other current assets consisted of the following:
 
June 30,
2019
 
December 31,
2018
 
 
 
 
 
(in millions)
Value added tax receivable
$
98

 
$
98

Reimbursable engineering costs
19

 
17

Prepaid insurance and other expenses
19

 
14

Income and other taxes receivable
18

 
16

Notes receivable
10

 
15

Derivative financial instruments (Note 16)
6

 
4

Return assets (Note 12)
5

 
7

Other
3

 
1

Total
$
178

 
$
172


Schedule of Other Assets, Noncurrent
Other long-term assets consisted of the following:
 
June 30,
2019
 
December 31,
2018
 
 
 
 
 
(in millions)
Operating lease assets (Note 6)
$
117

 
$

Income and other taxes receivable
41

 
53

Investment in Tula Technology, Inc.
21

 
21

Investment in PolyCharge America, Inc.
7

 
7

Derivative financial instruments (Note 16)
5

 

Debt issuance costs
3

 
3

Reimbursable engineering costs
3

 

Other
39

 
33

Total
$
236

 
$
117


v3.19.2
Liabilities (Tables)
6 Months Ended
Jun. 30, 2019
Other Liabilities Disclosure [Abstract]  
Schedule of Accrued Liabilities
Accrued liabilities consisted of the following:
 
June 30,
2019
 
December 31,
2018
 
 
 
 
 
(in millions)
Income and other taxes payable
$
62

 
$
63

Warranty obligations (Note 7)
60

 
68

Payroll-related obligations
50

 
45

Restructuring (Note 8)
42

 
46

Deferred reimbursable engineering
37

 
31

Accrued rebates
27

 
29

Operating lease liabilities (Note 6)
21

 

Freight
17

 
20

Employee benefits
13

 
16

Outside services
12

 
13

Accrued interest
10

 
12

Deferred cost reimbursement
7

 
5

Customer deposits
6

 
5

Other
79

 
75

Total
$
443

 
$
428


Other Noncurrent Liabilities
Other long-term liabilities consisted of the following:
 
June 30,
2019
 
December 31,
2018
 
 
 
 
 
(in millions)
Operating lease liabilities (Note 6)
$
99

 
$

Accrued income taxes
46

 
46

Warranty obligations (Note 7)
25

 
28

Deferred income taxes
15

 
14

Restructuring (Note 8)
11

 
19

Derivative financial instruments (Note 16)
5

 
6

Environmental (Note 11)
2

 
2

Other
3

 
8

Total
$
206

 
$
123


v3.19.2
Leases (Tables)
6 Months Ended
Jun. 30, 2019
Leases [Abstract]  
ScheduleOfLeaseRelatedAssetsandLiabilities [Table Text Block]
The table below presents the weighted-average remaining lease term and discount rate as of June 30, 2019:
Weighted-average remaining lease term (in years):
 
Operating leases
6.68

Finance leases
8.60

Weighted-average discount rate:
 
Operating leases
6.10
%
Finance leases
4.11
%

The table below presents supplemental balance sheet information related to leases as of June 30, 2019:
 
 
June 30, 2019
 
 
 
 
 
(in millions)
Assets
Balance Sheet Location
 
Operating lease assets
Other long-term assets (Note 4)
$
117

Finance lease assets
Property, net
14

 
Total lease assets
$
131

 
 
 
Liabilities
 
 
Current
 
 
Operating leases
Accrued liabilities (Note 5)
$
21

Finance leases
Short-term debt (Note 9)
2

Long-term
 
 
Operating leases
Other long-term liabilities (Note 5)
99

Finance leases
Long-term debt (Note 9)
13

 
Total lease liabilities
$
135


Lease, Cost [Table Text Block]
The table below presents the components of lease costs for the three and six months ended June 30, 2019:
 
Three Months Ended June 30, 2019
 
Six Months Ended June 30, 2019
 
 
 
 
 
(in millions)
Finance lease cost - amortization of lease assets (1)
$

 
$
1

Operating lease cost (2)
10

 
18

Total lease cost
$
10

 
$
19

(1)
Includes interest on finance lease liabilities, which was not material.
(2)
Includes short-term leases and variable lease costs, which were not material.
Schedule Of Leases, Supplemental Cash Flows [Table Text Block]
The table below presents supplemental cash flow information related to leases during the three and six months ended June 30, 2019:
 
Three Months Ended June 30, 2019
 
Six Months Ended June 30, 2019
 
 
 
 
 
(in millions)
Cash paid for amounts included in the measurement of lease liabilities:
 
 
 
Operating cash flows for operating leases (1)
$
7

 
$
14

(1)
Operating and financing cash flows for finance leases were not material for the three and six months ended ended June 30, 2019.
Lessee, Operating Lease, Liability, Maturity [Table Text Block]
The table below reconciles the undiscounted future minimum lease payments to the lease liabilities recorded on the balance sheet as of June 30, 2019:
 
Operating Leases
 
Finance Leases
 
Total
 
 
 
 
 
 
 
(in millions)
Remainder of 2019
$
13

 
$
1

 
$
14

2020
26

 
2

 
28

2021
24

 
2

 
26

2022
20

 
2

 
22

2023
14

 
2

 
16

Thereafter
49

 
9

 
58

Total future minimum lease payments
146

 
18

 
164

Less: amount of lease payments representing interest
(26
)
 
(3
)
 
(29
)
Total lease liabilities
$
120

 
$
15

 
$
135


v3.19.2
Warranty Obligations (Tables)
6 Months Ended
Jun. 30, 2019
Product Warranties Disclosures [Abstract]  
Schedule of Product Warranty Liability
The table below summarizes the activity in the product warranty liability for the six months ended June 30, 2019:
 
Warranty Obligations
 
 
 
(in millions)
Accrual balance at beginning of period
$
96

Provision for estimated warranties incurred during the period
19

Changes in estimate for pre-existing warranties

Settlements made during the period (in cash or in kind)
(30
)
Foreign currency translation and other

Accrual balance at end of period
$
85


v3.19.2
Restructuring (Tables)
6 Months Ended
Jun. 30, 2019
Restructuring and Related Activities [Abstract]  
Schedule of Restructuring and Related Costs
The following table summarizes the restructuring charges recorded for the three and six months ended June 30, 2019 and 2018 by operating segment:
 
Three Months Ended June 30,
 
Six Months Ended June 30,
 
2019
 
2018
 
2019
 
2018
 
 
 
 
 
 
 
 
 
(in millions)
Powertrain Systems
$
4

 
$
11

 
$
7

 
$
22

Aftermarket
1

 
1

 
1

 
1

Total
$
5

 
$
12

 
$
8

 
$
23


Schedule of Restructuring Reserve by Type of Cost
The table below summarizes the activity in the restructuring liability for the six months ended June 30, 2019:
 
Employee Termination Benefits Liability
 
Other Exit Costs Liability
 
Total
 
 
 
 
 
 
 
(in millions)
Accrual balance at December 31, 2018
$
64

 
$
1

 
$
65

Provision for estimated expenses during the period
8

 

 
8

Payments made during the period
(19
)
 

 
(19
)
Foreign currency and other
(1
)
 

 
(1
)
Accrual balance at June 30, 2019
$
52

 
$
1

 
$
53


v3.19.2
Debt (Tables)
6 Months Ended
Jun. 30, 2019
Debt Instrument [Line Items]  
Schedule of Long-term Debt Instruments
The following is a summary of debt outstanding, net of unamortized issuance costs and discounts, as of June 30, 2019 and December 31, 2018, respectively:
 
June 30, 2019
 
December 31, 2018
 
(in millions)
$750 million Term Loan A Facility, due 2022 (net of $3 and $4 unamortized issuance costs)
$
709

 
$
727

$800 million Senior Notes at 5.00%, due 2025 (net of $11 and $12 unamortized issuance costs and $3 and $3 discount, respectively)
786

 
785

Finance lease liabilities and other
19

 
19

Total debt
1,514

 
1,531

Less: current portion
(39
)
 
(43
)
Long-term debt
$
1,475

 
$
1,488


v3.19.2
Pension Benefits (Tables)
6 Months Ended
Jun. 30, 2019
Defined Benefit Plan Disclosure [Line Items]  
Schedule of Net Benefit Costs
The amounts shown below reflect the non-U.S. plans’ defined benefit pension expense for the three and six months ended June 30, 2019 and 2018:
 
Three Months Ended June 30,
 
2019
 
2018
 
 
 
 
 
(in millions)
Service cost
$
2

 
$
9

Interest cost
9

 
9

Expected return on plan assets
(15
)
 
(13
)
Amortization of actuarial losses
1

 
6

Net periodic benefit cost
$
(3
)
 
$
11

 
 
 
 
 
Six Months Ended June 30,
 
2019
 
2018
 
 
 
 
 
(in millions)
Service cost
$
9

 
$
19

Interest cost
18

 
18

Expected return on plan assets
(29
)
 
(27
)
Curtailment loss
15

 

Amortization of actuarial losses
5

 
12

Net periodic benefit cost
$
18

 
$
22


v3.19.2
Revenue (Tables)
6 Months Ended
Jun. 30, 2019
Jun. 30, 2018
Disaggregation of Revenue [Line Items]    
Disaggregation of Revenue [Table Text Block]
 
Three Months Ended June 30,
 
Six Months Ended June 30,
 
2019
 
2018
 
2019
 
2018
 
(in millions)
North America
$
314

 
$
349

 
$
652

 
$
705

Europe
520

 
549

 
1,062

 
1,115

Asia Pacific
254

 
300

 
490

 
639

South America
33

 
34

 
68

 
69

Total
$
1,121

 
$
1,232

 
$
2,272

 
$
2,528


The Powertrain Systems segment primarily serves OEMs along with certain Tier 1 suppliers (one that supplies vehicle components directly to manufacturers) and the Aftermarket segment serves independent aftermarket customers and original equipment service customers.
In the following table, net sales is disaggregated by major product group, sales channels and type of customer:
 
Three Months Ended June 30,
 
Six Months Ended June 30,
 
2019
 
2018
 
2019
 
2018
 
(in millions)
Sales to OEMs and Tier 1 customers:
 
 
 
 
 
 
 
Internal combustion engine products
$
705

 
$
749

 
$
1,427

 
$
1,544

Electronics & electrification products
202

 
268

 
438

 
552

Total sales to OEMs and Tier 1 customers (Powertrain Systems segment)
907

 
1,017

 
1,865

 
2,096

 
 
 
 
 
 
 
 
Sales to independent aftermarket customers
159

 
159

 
300

 
314

Sales to original equipment service customers
55

 
56

 
107

 
118

Total sales to aftermarket customers (Aftermarket segment)
$
214

 
$
215

 
$
407

 
$
432

 
 
 
 
 
 
 
 
Total
$
1,121

 
$
1,232

 
$
2,272

 
$
2,528


v3.19.2
Income Taxes (Tables)
6 Months Ended
Jun. 30, 2019
Income Tax Disclosure [Abstract]  
Schedule of Income Tax Expense (Benefit) and Effective Tax Rate
The Company’s income tax expense and effective tax rate for the six months ended June 30, 2019 and 2018 were as follows:
 
Six Months Ended June 30,
 
2019
 
2018
 
 
 
 
 
 
Income tax expense
$
22

 
$
42

Effective tax rate
31
%
 
18
%

v3.19.2
Shareholders' Equity And Net Income Per Share (Tables)
6 Months Ended
Jun. 30, 2019
Shareholders' Equity and Net Income Per Share Note [Abstract]  
Schedule of Weighted Average Number of Shares
The following table illustrates net income per share attributable to Delphi Technologies and the weighted average shares outstanding used in calculating basic and diluted income per share:
 
Three Months Ended June 30,
 
Six Months Ended June 30,
 
2019
 
2018
 
2019
 
2018
 
 
 
 
 
 
 
 
 
(in millions, except per share data)
Numerator:
 
 
 
 
 
 
 
Net income attributable to Delphi Technologies
$
27

 
$
86

 
$
43

 
$
184

Denominator:
 
 
 
 
 
 
 
Weighted average ordinary shares outstanding, basic
87.77

 
88.78

 
88.11

 
88.75

Dilutive shares related to restricted stock units (“RSUs”)
0.34

 
0.27

 
0.22

 
0.23

Weighted average ordinary shares outstanding, including dilutive shares
88.11

 
89.05

 
88.33

 
88.98

 
 
 
 
 
 
 
 
Net income per share attributable to Delphi Technologies:
 
 
 
 
 
 
 
Basic
$
0.31

 
$
0.97

 
$
0.49

 
$
2.07

Diluted
$
0.31

 
$
0.97

 
$
0.49

 
$
2.07

Anti-dilutive securities share impact

 

 

 


Schedule of Share Repurchases [Abstract]  
Share Repurchases [Table Text Block]
 
Three Months Ended June 30,
 
Six Months Ended June 30,
 
2019
 
2018
 
2019
 
2018
Total number of shares repurchased
845,959

 

 
1,583,876

 

Average price paid per share
$
17.73

 
$

 
$
18.94

 
$

Total (in millions)
$
15

 
$

 
$
30

 
$


v3.19.2
Changes in Accumulated Other Comprehensive Income (Tables)
6 Months Ended
Jun. 30, 2019
Accumulated Other Comprehensive Income (Loss), Net of Tax [Abstract]  
Schedule of Accumulated Other Comprehensive Income
The changes in accumulated other comprehensive income (loss) attributable to Delphi Technologies (net of tax) for the three and six months ended June 30, 2019 and 2018 are shown below.
 
Three Months Ended June 30,
 
Six Months Ended June 30,
 
2019
 
2018
 
2019
 
2018
 
 
 
 
 
 
 
 
 
(in millions)
Foreign currency translation adjustments:
 
 
 
 
 
 
 
Balance at beginning of period
$
(157
)
 
$
(56
)
 
$
(165
)
 
$
(85
)
Aggregate adjustment for the period (1)
(13
)
 
(81
)
 
(5
)
 
(52
)
Balance at end of period
(170
)
 
(137
)
 
(170
)
 
(137
)
 
 
 
 
 
 
 
 
Gains (losses) on derivatives:
 
 
 
 
 
 
 
Balance at beginning of period
14

 
(1
)
 
(2
)
 

Other comprehensive income before reclassifications (net tax effect of $0, $0, $0 and $0)
(7
)
 
3

 
11

 
2

Reclassification to income (net tax effect of $0, $0, $0 and $0)
(2
)
 

 
(4
)
 

Balance at end of period
5

 
2

 
5

 
2

 
 
 
 
 
 
 
 
Pension and postretirement plans:
 
 
 
 
 
 
 
Balance at beginning of period
(211
)
 
(294
)
 
(245
)
 
(286
)
Other comprehensive income before reclassifications (net tax effect of $3, $6, $5 and $4)
8

 
19

 
27

 
6

Reclassification to income (net tax effect of $0, $1, $4 and $2)
1

 
5

 
16

 
10

Balance at end of period
(202
)
 
(270
)
 
(202
)
 
(270
)
 
 
 
 
 
 
 
 
Accumulated other comprehensive loss, end of period
$
(367
)
 
$
(405
)
 
$
(367
)
 
$
(405
)
(1)
Includes gains of $5 million and gains of $2 million, for the three and six months ended June 30, 2019, respectively, related to the foreign currency impact of intra-entity loans that are of a long-term investment nature. Also includes losses of $12 million and $5 million, for the three and six months ended June 30, 2018, respectively, related to the foreign currency impact of intra-entity loans that are of a long-term investment nature. During the three and six months ended June 30, 2019 there were losses of $5 million and losses of $1 million, respectively, related to non-derivative net investment hedges. During the three and six months ended June 30, 2018 there were losses of less than $1 million and $1 million, respectively, related to non-derivative net investment hedges. Refer to Note 16. Derivatives and Hedging Activities for further description of these hedges.
Reclassifications out of Accumulated Other Comprehensive Income
Reclassifications from accumulated other comprehensive income (loss) to income for the six months ended June 30, 2019 and 2018 were as follows:
Reclassification Out of Accumulated Other Comprehensive Income (Loss)
Details About Accumulated Other Comprehensive Income (Loss) Components
 
Three Months Ended June 30,
 
Six Months Ended June 30,
 
Affected Line Item in the Statement of Operations
 
2019
 
2018
 
2019
 
2018
 
 
 
 
 
 
 
 
 
 
 
 
 
 
(in millions)
 
 
Pension and postretirement plans:
 
 
 
 
 
 
 
 
 
 
Actuarial losses
 
$
(1
)
 
$
(6
)
 
$
(5
)
 
$
(12
)
 
Other income (expense), net (1)
Curtailment
 

 

 
(15
)
 

 
Other income (expense), net (1)
 
 
(1
)
 
(6
)
 
(20
)
 
(12
)
 
Income before income taxes
 
 

 
1

 
4

 
2

 
Income tax expense
 
 
(1
)
 
(5
)
 
(16
)
 
(10
)
 
Net income
 
 

 

 

 

 
Net income attributable to noncontrolling interest
 
 
$
(1
)
 
$
(5
)
 
$
(16
)
 
$
(10
)
 
Net income attributable to Delphi Technologies
(1)
These accumulated other comprehensive loss components are included in the computation of net periodic pension cost (see Note 10. Pension Benefits for additional details).

Refer to Note. 16 Derivatives and Hedging Activities for additional reclassifications from accumulated other comprehensive income (loss) to income.
v3.19.2
Derivatives And Hedging Activities Derivative and Hedging Activities (Tables)
6 Months Ended
Jun. 30, 2019
Derivative [Line Items]  
Schedule of Notional Amounts of Outstanding Derivative Positions [Table Text Block]
As of June 30, 2019, the Company had the following outstanding notional amounts related to foreign currency forward contracts designated as cash flow hedges that were entered into to hedge forecasted exposures:
Foreign Currency
 
Quantity
Hedged
 
Unit of
Measure
 
Notional Amount
(USD Equivalent)
 
 
(in millions)
Chinese Yuan
 
814

 
RMB
 
$
120

Euro
 
88

 
EUR
 
100

Mexican Peso
 
966

 
MXN
 
50

Singapore Dollar
 
47

 
SGD
 
30

Polish Zloty
 
104

 
PLN
 
30

Turkish Lira
 
114

 
TRY
 
20


Schedule of Derivative Instruments in Statement of Financial Position, Fair Value [Table Text Block]
The following table includes the fair value of derivative instruments recorded in the consolidated balance sheets as of June 30, 2019 and December 31, 2018:
 
Asset Derivatives
 
Liability Derivatives
 
Balance Sheet Location*
 
June 30,
2019
 
December 31,
2018
 
Balance Sheet Location*
 
June 30,
2019
 
December 31,
2018
 
 
 
 
 
 
 
 
 
 
 
 
 
(in millions)
Designated as cash flow hedges:
 
 
 
 
 
 
 
 
 
 
Foreign currency derivatives
Other current assets
 
$
5

 
$
5

 
Other current assets
 
$

 
$
1

Foreign currency derivatives
Other long-term assets
 
1

 

 
Other long-term assets
 

 

Interest rate swaps
Other long-term liabilities
 

 

 
Other long-term liabilities
 
12

 
3

 
 
 
 
 
 
 
 
 
 
 
 
Designated as net investment hedges:
 
 
 
 
 
 
 
 
 
 
Cross-currency swaps
Other long-term assets
 
4

 

 
Other long-term assets
 

 

Cross-currency swaps
Other long-term liabilities
 
7

 

 
Other long-term liabilities
 

 
3

Total designated as hedges
 
$
17

 
$
5

 
 
 
$
12

 
$
7

 
 
 
 
 
 
 
 
 
 
 
 
Derivatives not designated as hedges:
 
 
 
 
 
 
 
 
 
 
Foreign currency derivatives
Other current assets
 
$
1

 
$

 
Other current assets
 
$

 
$

Total not designated as hedges
 
$
1

 
$

 
 
 
$

 
$

* Derivative instruments are subject to master netting arrangements and are presented on a net basis in the consolidated balance sheets in accordance with accounting guidance related to the offsetting of amounts related to certain contracts.
Derivative Instruments, Gain (Loss) [Table Text Block]
The pre-tax effect of the derivative financial instruments in the consolidated statement of operations and consolidated statement of comprehensive income for the three and six months ended June 30, 2019 and 2018 is as follows:
Three Months Ended June 30, 2019
Gain (Loss) Recognized in OCI
 
Gain Reclassified from OCI into Income
 
 
 
 
 
(in millions)
Derivatives designated as cash flow hedges:
 
 
 
Foreign currency derivatives
$
4

 
$
2

Interest rate swaps
(9
)
 

Derivatives designated as net investment hedges:
 
 
 
Cross-currency swaps
(2
)
 

Total
$
(7
)
 
$
2

 
 
 
 
 
 
 
Gain Recognized in Income
 
 
 
 
 
 
 
(in millions)
Derivatives not designated
 
$
2

Total
 
$
2

 
 
 
 
Three Months Ended June 30, 2018
Gain Recognized in OCI
 
Gain Reclassified from OCI into Income
 
 
 
(in millions)
Derivatives designated as cash flow hedges:
 
 
 
Foreign currency derivatives
$
3

 
$

Total
$
3

 
$

 
 
 
 
 
 
 
Loss Recognized in Income
 
 
 
 
 
 
 
(in millions)
Derivatives not designated
 
 
$
4

Total
 
 
$
4

Six Months Ended June 30, 2019
Gain (Loss) Recognized in OCI
 
Gain Reclassified from OCI into Income
 
 
 
 
 
(in millions)
Derivatives designated as cash flow hedges:
 
 
 
Foreign currency derivatives
$
6

 
$
4

Interest rate swaps
(9
)
 

Derivatives designated as net investment hedges:
 
 
 
Cross-currency swaps
14

 

Total
$
11

 
$
4

 
 
 
 
 
 
 
Loss Recognized in Income
 
 
 
(in millions)
Derivatives not designated
 
$

Total
 
$

 
 
 
 
Six Months Ended June 30, 2018
Gain Recognized in OCI
 
Gain Reclassified from OCI into Income
 
 
 
 
 
(in millions)
Derivatives designated as cash flow hedges:
 
 
 
Foreign currency derivatives
$
2

 
$

Total
$
2

 
$

 
 
 
 
 
 
 
Loss Recognized in Income
 
 
 
(in millions)
Derivatives not designated
 
 
$
8

Total
 
 
$
8


v3.19.2
Fair Value of Financial Instrument Fair Value of Financial Instruments Disclosure (Tables)
6 Months Ended
Jun. 30, 2019
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]  
Fair Value, Liabilities Measured on Recurring Basis [Table Text Block]
As of June 30, 2019 and December 31, 2018 Delphi Technologies had the following derivative assets measured at fair value on a recurring basis:
 
Total
 
Quoted Prices in Active Markets
Level 1
 
Significant Other Observable Inputs
Level 2
 
Significant Unobservable Inputs
Level 3
 
 
 
 
 
 
 
 
 
(in millions)
As of June 30, 2019:
 
 
 
 
 
 
 
Foreign currency derivatives
$
7

 
$

 
$
7

 
$

Cross-currency swaps*
4

 

 
4

 

Total
$
11

 
$

 
$
11

 
$

As of December 31, 2018:
 
 
 
 
 
 
 
Foreign currency derivatives
$
4

 
$

 
$
4

 
$

Total
$
4

 
$

 
$
4

 
$

* Derivative instruments are subject to master netting arrangements and are presented on a net basis in the consolidated balance sheets in accordance with accounting guidance related to the offsetting of amounts related to certain contracts.
As of June 30, 2019 and December 31, 2018 Delphi Technologies had the following derivative liabilities measured at fair value on a recurring basis:
 
Total
 
Quoted Prices in Active Markets
Level 1
 
Significant Other Observable Inputs
Level 2
 
Significant Unobservable Inputs
Level 3
 
 
 
 
 
 
 
 
 
(in millions)
As of June 30, 2019:
 
Interest rate swaps*
$
12

 
$

 
$
12

 
$

Cross-currency swaps*
(7
)
 

 
(7
)
 

Total
$
5

 
$

 
$
5

 
$

As of December 31, 2018:
 
 
 
 
 
 
 
Interest rate swaps*
$
3

 
$

 
$
3

 
$

Cross-currency swaps*
3

 

 
3

 

Total
$
6

 
$

 
$
6

 
$


v3.19.2
Other Income, Net (Tables)
6 Months Ended
Jun. 30, 2019
Other Income and Expenses [Abstract]  
Interest and Other Income
Other income (expense), net included:
 
Three Months Ended June 30,
 
Six Months Ended June 30,
 
2019
 
2018
 
2019
 
2018
 
 
 
 
 
 
 
 
 
(in millions)
Interest income
$
2

 
$
2

 
$
4

 
$
3

Components of net periodic benefit cost other than service cost (Note 10)
5

 
(2
)
 
(9
)
 
(3
)
Other, net
1

 
4

 
1

 
10

Other income (expense), net
$
8

 
$
4

 
$
(4
)
 
$
10


v3.19.2
Share-Based Compensation Share-Based Compensation Disclosure (Tables)
6 Months Ended
Jun. 30, 2019
Share-based Payment Arrangement [Abstract]  
Schedule of Executive RSU Grants [Table Text Block]
The details of the executive grant are as follows:
Grant Date
 
RSUs Granted
 
Grant Date Fair Value
 
Time-Based Award Vesting Dates
 
Performance-Based Award Vesting Date
 
 
(in millions)
 
 
 
 
February 2019
 
1.0
 
$27
 
Annually on the anniversary grant date, 2020-2022
 
December 31, 2021
February 2018
 
0.3
 
$16
 
Annually on the anniversary grant date, 2019-2021
 
December 31, 2020

Share-based Compensation Arrangements by Share-based Payment Award, Performance-Based Units, Vested and Expected to Vest [Table Text Block] Each executive will receive between 0% and 200% of his or her target performance-based award based on the Company’s performance against established company-wide performance metrics
Schedule of Nonvested Restricted Stock Units Activity [Table Text Block]
 
RSUs
 
Weighted Average Grant Date Fair Value
 
(in thousands)
 
 
Nonvested, January 1, 2019
679

 
$
42.70

Granted
1,210

 
24.87

Vested
(172
)
 
43.41

Forfeited
(46
)
 
32.83

Nonvested, June 30, 2019
1,671

 
28.47


v3.19.2
Segment Reporting (Tables)
6 Months Ended
Jun. 30, 2019
Segment Reporting [Abstract]  
Schedule of Segment Reporting Information, by Segment
Included below are sales and operating data for the Company’s segments for the three and six months ended June 30, 2019 and 2018.
 
Powertrain Systems
 
Aftermarket
 
Eliminations
and Other (1)
 
Total
 
 
 
 
 
 
 
 
 
(in millions)
For the Three Months Ended June 30, 2019:
 
 
 
 
 
 
 
Net sales
$
971

 
$
214

 
$
(64
)
 
$
1,121

Depreciation & amortization
$
55

 
$
2

 
$

 
$
57

Adjusted operating income
$
64

 
$
17

 
$

 
$
81

Operating income
$
43

 
$
13

 
$

 
$
56

Equity loss, net of tax
$
(1
)
 
$

 
$

 
$
(1
)
Net income attributable to noncontrolling interest
$
4

 
$

 
$

 
$
4

 
Powertrain Systems
 
Aftermarket
 
Eliminations
and Other (1)
 
Total
 
 
 
 
 
 
 
 
 
(in millions)
For the Three Months Ended June 30, 2018:
 
 
 
 
 
 
 
Net sales
$
1,086

 
$
215

 
$
(69
)
 
$
1,232

Depreciation & amortization
$
47

 
$
1

 
$

 
$
48

Adjusted operating income
$
134

 
$
22

 
$

 
$
156

Operating income
$
105

 
$
17

 
$

 
$
122

Equity income, net of tax
$
3

 
$

 
$

 
$
3

Net income attributable to noncontrolling interest
$
4

 
$

 
$

 
$
4

 
Powertrain Systems
 
Aftermarket
 
Eliminations
and Other (1)
 
Total
 
 
 
 
 
 
 
 
 
(in millions)
For the Six Months Ended June 30, 2019:
 
 
 
 
 
 
 
Net sales
$
1,991

 
$
407

 
$
(126
)
 
$
2,272

Depreciation & amortization
$
107

 
$
3

 
$

 
$
110

Adjusted operating income
$
140

 
$
28

 
$

 
$
168

Operating income
$
90

 
$
21

 
$

 
$
111

Equity income, net of tax
$
1

 
$


$

 
$
1

Net income attributable to noncontrolling interest
$
7

 
$

 
$

 
$
7

 
Powertrain Systems
 
Aftermarket
 
Eliminations
and Other (1)
 
Total
 
 
 
 
 
 
 
 
 
(in millions)
For the Six Months Ended June 30, 2018:
 
 
 
 
 
 
 
Net sales
$
2,239

 
$
432

 
$
(143
)
 
$
2,528

Depreciation & amortization
$
96

 
$
2

 
$

 
$
98

Adjusted operating income
$
276

 
$
39

 
$

 
$
315

Operating income
$
228

 
$
32

 
$

 
$
260

Equity income, net of tax
$
6

 
$

 
$

 
$
6

Net income attributable to noncontrolling interest
$
11

 
$

 
$

 
$
11

(1)
Eliminations and Other includes the elimination of inter-segment transactions.
Reconciliation of Segment Adjusted OI to Consolidated Net Income
The reconciliation of Adjusted Operating Income to Operating Income includes, as applicable, restructuring, separation costs, and asset impairments. The reconciliation of Adjusted Operating Income to net income attributable to Delphi Technologies for the three and six months ended June 30, 2019 and 2018 are as follows:
 
Powertrain Systems
 
Aftermarket
 
Eliminations
and Other
 
Total
 
 
 
 
 
 
 
 
 
(in millions)
For the Three Months Ended June 30, 2019:
 
 
 
 
 
 
 
Adjusted operating income
$
64

 
$
17

 
$

 
$
81

Restructuring
(4
)
 
(1
)
 

 
(5
)
Separation costs (1)
(11
)
 
(2
)
 

 
(13
)
Asset impairments
(4
)
 
(1
)
 

 
(5
)
Pension charges (2)
(2
)
 

 

 
(2
)
Operating income
$
43

 
$
13

 
$

 
56

Interest expense
 
 
 
 
 
 
(18
)
Other income, net
 
 
 
 
 
 
8

Income before income taxes and equity income
 
 
 
 
 
 
46

Income tax expense
 
 
 
 
 
 
(14
)
Equity loss, net of tax
 
 
 
 
 
 
(1
)
Net income
 
 
 
 
 
 
31

Net income attributable to noncontrolling interest
 
 
 
 
 
 
4

Net income attributable to Delphi Technologies
 
 
 
 
 
 
$
27

 
Powertrain Systems
 
Aftermarket
 
Eliminations
and Other
 
Total
 
 
 
 
 
 
 
 
 
(in millions)
For the Three Months Ended June 30, 2018:
 
 
 
 
 
 
 
Adjusted operating income
$
134

 
$
22

 
$

 
$
156

Restructuring
(11
)
 
(1
)
 

 
(12
)
Separation costs (1)
(17
)
 
(4
)
 

 
(21
)
Asset impairments
(1
)
 

 

 
(1
)
Operating income
$
105

 
$
17

 
$

 
122

Interest expense
 
 
 
 
 
 
(19
)
Other income, net
 
 
 
 
 
 
4

Income before income taxes and equity income
 
 
 
 
 
 
107

Income tax expense
 
 
 
 
 
 
(20
)
Equity income, net of tax
 
 
 
 
 
 
3

Net income
 
 
 
 
 
 
90

Net income attributable to noncontrolling interest
 
 
 
 
 
 
4

Net income attributable to Delphi Technologies
 
 
 
 
 
 
$
86



 
Powertrain Systems
 
Aftermarket
 
Eliminations
and Other
 
Total
 
 
 
 
 
 
 
 
 
(in millions)
For the Six Months Ended June 30, 2019:
 
 
 
 
 
 
 
Adjusted operating income
$
140

 
$
28

 
$

 
$
168

Restructuring
(7
)
 
(1
)
 

 
(8
)
Separation costs (1)
(27
)
 
(4
)
 

 
(31
)
Asset impairments
(7
)
 
(1
)
 

 
(8
)
Pension charges (2)
(9
)
 
(1
)
 

 
(10
)
Operating income
$
90

 
$
21

 
$

 
111

Interest expense
 
 
 
 
 
 
(36
)
Other expense, net
 
 
 
 
 
 
(4
)
Income before income taxes and equity income
 
 
 
 
 
 
71

Income tax expense
 
 
 
 
 
 
(22
)
Equity income, net of tax
 
 
 
 
 
 
1

Net income
 
 
 
 
 
 
50

Net income attributable to noncontrolling interest
 
 
 
 
 
 
7

Net income attributable to Delphi Technologies
 
 
 
 
 
 
$
43

 
Powertrain Systems
 
Aftermarket
 
Eliminations
and Other
 
Total
 
 
 
 
 
 
 
 
 
(in millions)
For the Six Months Ended June 30, 2018:
 
 
 
 
 
 
 
Adjusted operating income
$
276

 
$
39

 
$

 
$
315

Restructuring
(22
)
 
(1
)
 

 
(23
)
Separation costs (1)
(25
)
 
(6
)
 

 
(31
)
Asset impairments
(1
)
 

 

 
(1
)
Operating income
$
228

 
$
32

 
$

 
260

Interest expense
 
 
 
 
 
 
(39
)
Other income, net
 
 
 
 
 
 
10

Income before income taxes and equity income
 
 
 
 
 
 
231

Income tax expense
 
 
 
 
 
 
(42
)
Equity income, net of tax
 
 
 
 
 
 
6

Net income
 
 
 
 
 
 
195

Net income attributable to noncontrolling interest
 
 
 
 
 
 
11

Net income attributable to Delphi Technologies
 
 
 
 
 
 
$
184

(1)
Separation costs include one-time incremental expenses associated with becoming a stand-alone publicly-traded company.
(2)
Pension charges include additional contributions to defined contribution plans, other payments to impacted employees and other related expenses resulting from the freeze of future accruals for nearly all U.K. defined benefit pension plans.
The Company’s chief operating decision maker recently announced changes to the Company’s organization structure, effective July 2019. As a result of these changes, it is expected that the Company’s chief operating decision maker will make changes to how he assesses the performance of the business and allocates resources. Therefore, the Company anticipates this will result in a change to its operating segments by the filing of the Company’s Form 10-K for the year ended December 31, 2019. As of June 30, 2019 the Company’s chief operating decision maker continues to assess the performance of the business and allocate resources using the operating segments noted above.
v3.19.2
Significant Accounting Policies (Details) - USD ($)
shares in Thousands, $ in Millions
3 Months Ended 6 Months Ended
Dec. 04, 2017
Jun. 30, 2019
Jun. 30, 2018
Jun. 30, 2019
Jun. 30, 2018
Dec. 31, 2018
Significant Accounting Policies [Line Items]            
Operating Lease, Right-of-Use Asset   $ 117   $ 117   $ 0
Return assets   $ 5   $ 5   7
Separation Date Dec. 04, 2017          
Weighted Average Number of Shares Outstanding, Basic   87,770 88,780 88,110 88,750  
Intangible assets, net (Excluding Goodwill)   $ 61   $ 61   69
Goodwill   7   7   7
Components of net periodic benefit cost other than service cost   (5) $ 2 9 $ 3  
Cost of technology investments       0 7  
Amortization of Intangible Assets   2 $ 2 8 $ 6  
Operating Lease, Liability, Noncurrent   99   $ 99   $ 0
Document Period End Date       Jun. 30, 2019    
Operating Lease, Liability   $ 120   $ 120    
v3.19.2
Inventories (Details) - USD ($)
$ in Millions
Jun. 30, 2019
Dec. 31, 2018
Inventory Disclosure [Abstract]    
Productive material $ 250 $ 250
Work-in-process 48 36
Finished goods 255 235
Inventory, Net $ 553 $ 521
v3.19.2
Assets Other Current Assets (Details) - USD ($)
$ in Millions
Jun. 30, 2019
Dec. 31, 2018
Deferred Costs, Capitalized, Prepaid, and Other Assets Disclosure [Abstract]    
Value added tax receivable $ 98 $ 98
Reimbursable engineering costs 19 17
Notes receivable 10 15
Prepaid insurance and other expenses 19 14
Income and other taxes receivable 18 16
Return assets 5 7
Derivative Asset, Current 6 4
Other Prepaid Expense, Current 3 1
Total $ 178 $ 172
v3.19.2
Assets Other Assets, noncurrent (Details) - USD ($)
$ in Millions
Jun. 30, 2019
Dec. 31, 2018
Schedule of Assets, noncurrent [Line Items]    
Operating Lease, Right-of-Use Asset $ 117 $ 0
Income Taxes Receivable, Noncurrent 41 53
Debt Issuance Costs, Line of Credit Arrangements, Net 3 3
Reimbursable Engineering Costs, Noncurrent 3 0
Derivative Asset 5 0
Other Assets, Miscellaneous, Noncurrent 39 33
Total Other long-term assets 236 117
Tula [Member]    
Schedule of Assets, noncurrent [Line Items]    
Other Long-term Investments 21 21
PolyCharge [Member]    
Schedule of Assets, noncurrent [Line Items]    
Other Long-term Investments $ 7 $ 7
v3.19.2
Liabilities Other Liabilities, Current (Details) - USD ($)
$ in Millions
Jun. 30, 2019
Dec. 31, 2018
Other Liabilities Disclosure [Abstract]    
Warranty obligations (Note 7) $ 60 $ 68
Payroll-related obligations 50 45
Restructuring (Note 8) 42 46
Operating Lease, Liability, Current 21 0
Income and other taxes payable 62 63
Accrued rebates 27 29
Deferred reimbursable engineering 37 31
Accrued interest 10 12
Freight 17 20
Employee benefits, including current pension obligations 13 16
Outside services 12 13
Customer deposits 6 5
Deferred cost reimbursement 7 5
Other 79 75
Total $ 443 $ 428
v3.19.2
Liabilities Other Liabilities, Non Current (Details) - USD ($)
$ in Millions
Jun. 30, 2019
Dec. 31, 2018
Other Liabilities Disclosure [Abstract]    
Operating Lease, Liability, Noncurrent $ 99 $ 0
Restructuring (Note 8) 11 19
Warranty obligations (Note 7) 25 28
Deferred income taxes 15 14
Derivative Liability, Noncurrent 5 6
Accrued income taxes 46 46
Environmental (Note 11) 2 2
Other 3 8
Total $ 206 $ 123
v3.19.2
Leases (Details) - USD ($)
$ in Millions
3 Months Ended 6 Months Ended
Jun. 30, 2019
Jun. 30, 2019
Dec. 31, 2018
Lessee, Lease, Description [Line Items]      
Document Period End Date   Jun. 30, 2019  
Lessee Finance Lease and Operating Lease Not Yet Commenced Amount $ 14 $ 14  
Lessee, Operating Lease, Liability, Payments, Due Next Twelve Months 13 13  
Finance Lease, Liability, Payments, Due Next Twelve Months 1 1  
Lease Liability Payments Remainder of Fiscal Year 14 14  
Operating Lease, Payments $ 7 $ 14  
Operating Lease, Weighted Average Remaining Lease Term 6 years 8 months 4 days 6 years 8 months 4 days  
Finance Lease, Right-of-Use Asset, Amortization $ 0 $ 1  
Operating Lease, Right-of-Use Asset 117 117 $ 0
Finance Lease, Right-of-Use Asset 14 14  
LeaseRightofUseAsset 131 131  
Operating Lease, Liability, Current 21 21 0
Finance Lease, Liability, Current 2 2  
Operating Lease, Liability, Noncurrent 99 99 $ 0
Finance Lease, Liability, Noncurrent 13 13  
LeaseLiability 135 135  
Operating Lease, Cost 10 18  
Lease, Cost $ 10 $ 19  
Finance Lease, Weighted Average Remaining Lease Term 8 years 7 months 6 days 8 years 7 months 6 days  
Operating Lease, Weighted Average Discount Rate, Percent 6.10% 6.10%  
Finance Lease, Weighted Average Discount Rate, Percent 4.11% 4.11%  
Lessee, Operating Lease, Liability, Payments, Due Year Two $ 26 $ 26  
Finance Lease, Liability, Payments, Due Year Two 2 2  
Lease Liability Payments Due Year Two 28 28  
Lessee, Operating Lease, Liability, Payments, Due Year Three 24 24  
Finance Lease, Liability, Payments, Due Year Three 2 2  
Lease Liability Payments Due Year Three 26 26  
Lessee, Operating Lease, Liability, Payments, Due Year Four 20 20  
Finance Lease, Liability, Payments, Due Year Four 2 2  
Lease Liability Payments Due Year Four 22 22  
Lessee, Operating Lease, Liability, Payments, Due Year Five 14 14  
Finance Lease, Liability, Payments, Due Year Five 2 2  
Finance Lease, Liability, Payments, Due after Year Five 9 9  
Lease Liability Payments Due After Year Five 58 58  
Lease Liability Payments Due Year Five 16 16  
Lessee, Operating Lease, Liability, Payments, Due after Year Five 49 49  
Lessee, Operating Lease, Liability, Payments, Due 146 146  
Finance Lease, Liability, Payment, Due 18 18  
Lease Liability Payments Due 164 164  
Lessee, Operating Lease, Liability, Undiscounted Excess Amount (26) (26)  
Finance Lease, Liability, Undiscounted Excess Amount (3) (3)  
Lease Liability Undiscounted Excess Amount (29) (29)  
Operating Lease, Liability 120 120  
Finance Lease, Liability $ 15 15  
Right-of-Use Asset Obtained in Exchange for Finance Lease Liability   $ 6  
Minimum [Member]      
Lessee, Lease, Description [Line Items]      
Remaining Term of Operating and Finance Leases   1 year  
Maximum [Member]      
Lessee, Lease, Description [Line Items]      
Remaining Term of Operating and Finance Leases   10 years  
Lessee Finance Lease And Operating Lease Lease Not Yet Commenced Term of Contract   11 years  
v3.19.2
Warranty Obligations (Details)
$ in Millions
6 Months Ended
Jun. 30, 2019
USD ($)
Movement in Standard and Extended Product Warranty, Increase (Decrease) [Roll Forward]  
Accrual balance at beginning of period $ 96
Provision for estimated warranties incurred during the period 19
Provision for changes in estimate for pre-existing warranties 0
Settlements made during the period (in cash or in kind) (30)
Foreign currency translation and other 0
Accrual balance at end of period 85
Minimum [Member]  
Product Warranty Liability [Line Items]  
Product Liability Contingency, Loss Exposure in Excess of Accrual, Best Estimate 0
Maximum [Member]  
Product Warranty Liability [Line Items]  
Product Liability Contingency, Loss Exposure in Excess of Accrual, Best Estimate $ 5
v3.19.2
Restructuring Narrative (Details) - USD ($)
$ in Millions
3 Months Ended 6 Months Ended
Jun. 30, 2019
Jun. 30, 2018
Jun. 30, 2019
Jun. 30, 2018
Restructuring Cost and Reserve [Line Items]        
Restructuring $ 5 $ 12 $ 8 $ 23
Asset Impairment Charges 5 $ 1 8 1
Restructuring, Cash Expenditures     19 40
Cost of Sales [Member] | Fair Value, Measurements, Nonrecurring        
Restructuring Cost and Reserve [Line Items]        
Asset Impairment Charges $ 5   $ 8 1
EUROPE | European Footprint Rotation        
Restructuring Cost and Reserve [Line Items]        
Restructuring       $ 5
v3.19.2
Restructuring Restructuring Costs by Segment (Details) - USD ($)
$ in Millions
3 Months Ended 6 Months Ended
Jun. 30, 2019
Jun. 30, 2018
Jun. 30, 2019
Jun. 30, 2018
Restructuring Cost and Reserve [Line Items]        
Restructuring $ 5 $ 12 $ 8 $ 23
Powertrain Systems Segment [Member]        
Restructuring Cost and Reserve [Line Items]        
Restructuring 4 11 7 22
Aftermarket Segment [Member]        
Restructuring Cost and Reserve [Line Items]        
Restructuring $ 1 $ 1 $ 1 $ 1
v3.19.2
Restructuring Restructuring Liability (Details) - USD ($)
$ in Millions
3 Months Ended 6 Months Ended
Jun. 30, 2019
Jun. 30, 2018
Jun. 30, 2019
Jun. 30, 2018
Restructuring Reserve [Roll Forward]        
Beginning Balance     $ 65  
Restructuring Charges $ 5 $ 12 8 $ 23
Payments made during the period     (19) $ (40)
Foreign currency and other     (1)  
Ending Balance 53   53  
Employee Termination Benefits Liability        
Restructuring Reserve [Roll Forward]        
Beginning Balance     64  
Restructuring Charges     8  
Payments made during the period     (19)  
Foreign currency and other     (1)  
Ending Balance 52   52  
Other Exit Costs Liability        
Restructuring Reserve [Roll Forward]        
Beginning Balance     1  
Restructuring Charges     0  
Payments made during the period     0  
Foreign currency and other     0  
Ending Balance $ 1   $ 1  
v3.19.2
Debt Outstanding (Details) - USD ($)
$ in Millions
6 Months Ended
Jun. 30, 2019
Dec. 31, 2018
Debt Instrument [Line Items]    
Document Period End Date Jun. 30, 2019  
Total Debt $ 1,514 $ 1,531
Debt, Current (39) (43)
Long-term debt 1,475 1,488
Senior Notes    
Debt Instrument [Line Items]    
Total Debt 786 785
Capital Leases and Other Debt [Member]    
Debt Instrument [Line Items]    
Total Debt 19 19
Term Loan A Facility [Member] | Line of Credit [Member]    
Debt Instrument [Line Items]    
Total Debt $ 709 $ 727
v3.19.2
Debt Senior Unsecured Notes (Details) - USD ($)
Sep. 28, 2017
Sep. 07, 2017
Senior Secured Credit Facility [Member] | Line of Credit [Member]    
Debt Instrument [Line Items]    
Debt Issuance Costs, Net   $ 9,000,000
Senior Unsecured Notes Due 2025 [Member] | Senior Notes    
Debt Instrument [Line Items]    
Senior notes issued $ 800,000,000  
Debt Instrument, Interest Rate, Stated Percentage 5.00%  
v3.19.2
Debt Other Financing (Details) - USD ($)
$ in Millions
3 Months Ended 6 Months Ended
Jun. 30, 2019
Jun. 30, 2018
Jun. 30, 2019
Jun. 30, 2018
Dec. 31, 2018
Debt Instrument [Line Items]          
Document Period End Date     Jun. 30, 2019    
Interest Paid, Including Capitalized Interest, Operating and Investing Activities     $ 35 $ 37  
Capital Lease Obligations $ 15   15   $ 14
Europe [Member]          
Debt Instrument [Line Items]          
Receivables Factored Qualifying As Sales     21 $ 22  
Interest Expense, Trading Liabilities     1    
Aftermarket Segment [Member]          
Debt Instrument [Line Items]          
Receivables Factored Qualifying As Sales 43 $ 25 $ 74    
Interest Expense, Trading Liabilities $ 1 $ 1      
v3.19.2
Debt Credit Agreement (Details) - USD ($)
6 Months Ended
Sep. 07, 2017
Jun. 30, 2019
Debt Instrument [Line Items]    
Document Period End Date   Jun. 30, 2019
Line of Credit [Member] | Senior Secured Credit Facility [Member]    
Debt Instrument [Line Items]    
Line of Credit Facility, Maximum Borrowing Capacity $ 1,250,000,000  
Term Loan A Facility [Member] | Line of Credit [Member] | Senior Secured Credit Facility [Member]    
Debt Instrument [Line Items]    
Line of Credit Facility, Maximum Borrowing Capacity $ 750,000,000  
Debt Instrument, Term 5 years  
Revolving Credit Facility [Member] | Line of Credit [Member] | Senior Secured Credit Facility [Member]    
Debt Instrument [Line Items]    
Line of Credit Facility, Maximum Borrowing Capacity $ 500,000,000  
Debt Instrument, Term 5 years  
JPMorgan Chase Bank, N.A. [Member] | Amended and Restated Credit Agreement [Member]    
Debt Instrument [Line Items]    
Debt Instrument, Covenant Compliance, Maximum Ratio of Indebtedness to EBITDA   350.00%
v3.19.2
Pension Benefits Net Periodic Benefit Cost (Details) - USD ($)
$ in Millions
3 Months Ended 6 Months Ended
Jun. 30, 2019
Jun. 30, 2018
Jun. 30, 2019
Jun. 30, 2018
Dec. 31, 2018
Defined Benefit Plan Disclosure [Line Items]          
Document Period End Date     Jun. 30, 2019    
Increase (Decrease) in Obligation, Pension Benefits     $ 33    
Transitional Payments $ 2   9    
Liability, Other Retirement Benefits 1   1   $ 1
Foreign Plan [Member]          
Defined Benefit Plan Disclosure [Line Items]          
Defined Benefit Plan, Net Periodic Benefit Cost (Credit), Gain (Loss) Due to Curtailment     (15) $ 0  
Service cost 2 $ 9 9 19  
Interest cost 9 9 18 18  
Expected return on plan assets (15) (13) (29) (27)  
Amortization of actuarial losses 1 6 5 12  
Net periodic benefit cost $ (3) $ 11 $ 18 $ 22  
v3.19.2
Commitments And Contingencies Environmental Matters (Details) - USD ($)
$ in Millions
Jun. 30, 2019
Dec. 31, 2018
Environmental Exit Cost [Line Items]    
Accrual for Environmental Loss Contingencies $ 3 $ 3
Accrued Environmental Loss Contingencies, Noncurrent 2 2
Accrued Liabilities    
Environmental Exit Cost [Line Items]    
Accrued Environmental Loss Contingencies, Current 1 1
Other Long-Term Liabilities    
Environmental Exit Cost [Line Items]    
Accrued Environmental Loss Contingencies, Noncurrent $ 2 $ 2
v3.19.2
Commitments And Contingencies Ordinary Business Litigation (Details)
$ in Millions
Jun. 30, 2019
USD ($)
Ordinary Business Litigation [Member] | Pending Litigation [Member] | Maximum [Member]  
Loss Contingencies [Line Items]  
Loss Contingency, Range of Possible Loss, Portion Not Accrued $ 20
v3.19.2
Revenue Disaggregation of Revenue (Details) - USD ($)
$ in Millions
3 Months Ended 6 Months Ended
Jun. 30, 2019
Jun. 30, 2018
Jun. 30, 2019
Jun. 30, 2018
Dec. 31, 2018
Disaggregation of Revenue [Line Items]          
Document Period End Date     Jun. 30, 2019    
Net sales $ 1,121 $ 1,232 $ 2,272 $ 2,528  
Contract with Customer, Asset, Reclassified to Receivable 1        
Return assets 5   5   $ 7
North America [Member]          
Disaggregation of Revenue [Line Items]          
Net sales 314 349 652 705  
Europe [Member]          
Disaggregation of Revenue [Line Items]          
Net sales 520 549 1,062 1,115  
Asia Pacific [Member]          
Disaggregation of Revenue [Line Items]          
Net sales 254 300 490 639  
South America [Member]          
Disaggregation of Revenue [Line Items]          
Net sales 33 34 68 69  
Internal Combustion Engine Products [Domain]          
Disaggregation of Revenue [Line Items]          
Net sales 705 749 1,427 1,544  
Electrification & Electronics [Member]          
Disaggregation of Revenue [Line Items]          
Net sales 202 268 438 552  
Independent Aftermarket [Member]          
Disaggregation of Revenue [Line Items]          
Net sales 159 159 300 314  
Original Equipment Service [Member]          
Disaggregation of Revenue [Line Items]          
Net sales 55 56 107 118  
Powertrain Systems Segment [Member]          
Disaggregation of Revenue [Line Items]          
Net sales 907 1,017 1,865 2,096  
Aftermarket Segment [Member]          
Disaggregation of Revenue [Line Items]          
Net sales 214 215 407 432  
Operating Segments [Member] | Powertrain Systems Segment [Member]          
Disaggregation of Revenue [Line Items]          
Net sales 971 1,086 1,991 2,239  
Operating Segments [Member] | Aftermarket Segment [Member]          
Disaggregation of Revenue [Line Items]          
Net sales $ 214 $ 215 $ 407 $ 432  
v3.19.2
Income Taxes (Details) - USD ($)
$ in Millions
3 Months Ended 6 Months Ended
Jun. 30, 2019
Jun. 30, 2018
Jun. 30, 2019
Jun. 30, 2018
Valuation Allowance [Line Items]        
Document Period End Date     Jun. 30, 2019  
Income tax expense $ 14 $ 20 $ 22 $ 42
Effective tax rate     31.00% 18.00%
Income Tax Expense (Benefit) associated with discrete items     $ 1 $ 2
Cash taxes paid     $ 28 $ 51
v3.19.2
Shareholders' Equity And Net Income Per Share Weighted Average Shares Outstanding and Net Income Per Share (Details) - USD ($)
$ / shares in Units, $ in Millions
3 Months Ended 6 Months Ended
Jun. 30, 2019
Mar. 31, 2019
Jun. 30, 2018
Jun. 30, 2019
Jun. 30, 2018
Jan. 24, 2019
Share Repurchases [Line Items]            
Stock Repurchased and Retired During Period, Shares 845,959   0 1,583,876 0  
Stock Repurchased Average Price $ 17.73   $ 0 $ 18.94 $ 0  
Repurchase of ordinary shares $ 15 $ 15 $ 0 $ 30 $ 0  
Numerator:            
Net income attributable to Delphi Technologies $ 27   $ 86 $ 43 $ 184  
Weighted Average Number of Shares Outstanding, Basic 87,770,000   88,780,000 88,110,000 88,750,000  
Denominator:            
Dilutive shares related to restricted stock units 340,000   270,000 220,000 230,000  
Weighted Average Number of Shares Outstanding, Diluted 88,110,000   89,050,000.00 88,330,000 88,980,000  
Basic net income per share:            
Basic (in dollars per share) $ 0.31   $ 0.97 $ 0.49 $ 2.07  
Diluted net income per share:            
Diluted (in dollars per share) $ 0.31   $ 0.97 $ 0.49 $ 2.07  
Antidilutive securities share impact 0   0   0  
Share repurchase Program July [Member]            
Share Repurchases [Line Items]            
Stock Repurchase Program, Authorized Amount $ 100     $ 100    
Share repurchase Program January [Member] [Domain]            
Share Repurchases [Line Items]            
Stock Repurchase Program, Authorized Amount           $ 200
v3.19.2
Changes in Accumulated Other Comprehensive Income (Details) - USD ($)
$ in Millions
3 Months Ended 6 Months Ended
Jun. 30, 2019
Mar. 31, 2019
Jun. 30, 2018
Mar. 31, 2018
Jun. 30, 2019
Jun. 30, 2018
Dec. 31, 2018
Dec. 31, 2017
Accumulated Other Comprehensive Income (Loss) [Line Items]                
Document Period End Date         Jun. 30, 2019      
Adjustment for Long-term Intercompany Transactions, Net of Tax $ 5   $ 12   $ 2 $ 5    
Stockholders' Equity, Including Portion Attributable to Noncontrolling Interest 500 $ 496 320 $ 302 500 320 $ 438 $ 232
AOCI Attributable to Parent, Net of Tax [Roll Forward]                
Accumulated other comprehensive income (loss), beginning of period   (412)     (412)      
Accumulated other comprehensive income (loss), end of period (367)   (405)   (367) (405)    
Other comprehensive income (loss) (15) 59 (58) 22 44 (36)    
Designated as Hedging Instrument | Net Investment Hedging                
AOCI Attributable to Parent, Net of Tax [Roll Forward]                
Gain (loss) on net investment hedge, net of tax 5   1   1 1    
Foreign currency translation adjustments                
Accumulated Other Comprehensive Income (Loss) [Line Items]                
Stockholders' Equity, Including Portion Attributable to Noncontrolling Interest (170)   (137)   (170) (137)    
AOCI Attributable to Parent, Net of Tax [Roll Forward]                
Accumulated other comprehensive income (loss), beginning of period (157) (165) (56) (85) (165) (85)    
Accumulated other comprehensive income (loss), end of period (170) (157) (137) (56) (170) (137)    
Other comprehensive income (loss) (13)   (81)   (5) (52)    
Unrealized gains (losses) on derivatives                
AOCI Attributable to Parent, Net of Tax [Roll Forward]                
Accumulated other comprehensive income (loss), beginning of period 14 (2) (1) 0 (2) 0    
Other comprehensive income (loss) before reclassifications (net of tax effect) (7)   3   11 2    
Reclassification to income (net of tax effect) (2)   0   (4) 0    
Accumulated other comprehensive income (loss), end of period 5 14 2 (1) 5 2    
Net tax effect of Other comprehensive income before reclassifications 0   0   0 0    
Net tax effect of Reclassification Adjustment from AOCI on Derivatives 0   0   0 0    
Pension and postretirement plans                
AOCI Attributable to Parent, Net of Tax [Roll Forward]                
Accumulated other comprehensive income (loss), beginning of period (211) (245) (294) (286) (245) (286)    
Other comprehensive income (loss) before reclassifications (net of tax effect) 8   19   27 6    
Reclassification to income (net of tax effect) 1   5   16 10    
Accumulated other comprehensive income (loss), end of period (202) (211) (270) (294) (202) (270)    
Net tax effect of Other comprehensive income before reclassifications 2   2   2 3    
Net tax effect of Reclassification Adjustment from AOCI, Pension and Other Postretirement Plans 4   1   4 3    
Accumulated Other Comprehensive Loss                
Accumulated Other Comprehensive Income (Loss) [Line Items]                
Stockholders' Equity, Including Portion Attributable to Noncontrolling Interest (367) (354) (405) (351) $ (367) $ (405) $ (412) $ (371)
AOCI Attributable to Parent, Net of Tax [Roll Forward]                
Other comprehensive income (loss) $ (13) $ 58 $ (54) $ 20        
v3.19.2
Changes in Accumulated Other Comprehensive Income AOCI Reclassifications (Details) - USD ($)
$ in Millions
3 Months Ended 6 Months Ended
Jun. 30, 2019
Mar. 31, 2019
Jun. 30, 2018
Mar. 31, 2018
Jun. 30, 2019
Jun. 30, 2018
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items]            
Document Fiscal Year Focus         2019  
Adjustment for Long-term Intercompany Transactions, Net of Tax $ 5   $ 12   $ 2 $ 5
Income tax expense (14)   (20)   (22) (42)
Net income 31 $ 19 90 $ 105 50 195
Net income attributable to noncontrolling interest (4)   (4)   (7) (11)
Net income attributable to Delphi Technologies 27   86   43 184
Amount Reclassified from Accumulated Other Comprehensive Income | Pension and postretirement plans            
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items]            
Actuarial losses (1)   (6)   (5) (12)
Curtailment 0   0   (15)  
Income before income taxes (1)   (6)   (20) (12)
Income tax expense 0   1   4 2
Net income (1)   (5)   (16) (10)
Net income attributable to noncontrolling interest 0   0   0 0
Net income attributable to Delphi Technologies $ (1)   $ (5)   $ (16) $ (10)
v3.19.2
Derivatives And Hedging Activities Derivative (Details)
₺ in Millions, € in Millions, ¥ in Millions, $ in Millions, $ in Millions, $ in Millions
3 Months Ended 6 Months Ended 12 Months Ended
Jun. 30, 2019
USD ($)
Jun. 30, 2018
USD ($)
Jun. 30, 2019
USD ($)
Sep. 30, 2020
USD ($)
Sep. 30, 2019
USD ($)
Jun. 30, 2019
CNY (¥)
Jun. 30, 2019
SGD ($)
Jun. 30, 2019
EUR (€)
Jun. 30, 2019
TRY (₺)
Jun. 30, 2019
MXN ($)
Dec. 31, 2018
USD ($)
Derivative [Line Items]                      
Document Period End Date     Jun. 30, 2019                
Accumulated Other Comprehensive Income (Loss), Cumulative Changes in Net Gain (Loss) from Cash Flow Hedges, Effect before Tax 1 $ (6)   $ (6)                
Accumulated Other Comprehensive Income (Loss), Cumulative Changes in Net Gain (Loss) from Cash Flow Hedges, Effect Net of Tax (6)   (6)                
Derivative Asset 5   5               $ 0
Interest Rate Swap [Member]                      
Derivative [Line Items]                      
Derivative, Notional Amount                     400
Currency Swap [Member]                      
Derivative [Line Items]                      
Derivative, Notional Amount 600   600                
Cost of Sales [Member] | Forecast [Member]                      
Derivative [Line Items]                      
Derivative Instruments, Gain (Loss) Reclassified from Accumulated OCI into Income, Effective Portion, Net       $ (7) $ (1)            
Not Designated as Hedging Instrument [Member]                      
Derivative [Line Items]                      
Derivative, Gain on Derivative 2                    
Derivative, Loss on Derivative   $ 4                  
Derivative Asset, Fair Value, Gross Asset Including Not Subject to Master Netting Arrangement 1   1               0
Derivative Liability, Fair Value, Gross Liability Including Not Subject to Master Netting Arrangement 0   0               0
Not Designated as Hedging Instrument [Member] | Foreign currency derivatives                      
Derivative [Line Items]                      
Derivative, Gain on Derivative 2                    
Derivative, Loss on Derivative   4                  
Designated as Hedging Instrument [Member}                      
Derivative [Line Items]                      
Other Comprehensive Income (Loss), Unrealized Gain (Loss) on Derivatives Arising During Period, before Tax (7) 3                  
Derivative Instruments, Gain Reclassified from Accumulated OCI into Income, Effective Portion 2 $ 0                  
Derivative Asset, Fair Value, Gross Asset Including Not Subject to Master Netting Arrangement 17   17               5
Derivative Liability, Fair Value, Gross Liability Including Not Subject to Master Netting Arrangement 12   12               7
Other Current Assets [Member] | Not Designated as Hedging Instrument [Member] | Foreign currency derivatives                      
Derivative [Line Items]                      
Derivative Asset, Fair Value, Gross Asset Including Not Subject to Master Netting Arrangement 1   1               0
Derivative Liability, Fair Value, Gross Liability Including Not Subject to Master Netting Arrangement 0   0                
Derivative Asset 0   0                
Net Investment Hedging [Member] | Not Designated as Hedging Instrument [Member] | Currency Swap [Member]                      
Derivative [Line Items]                      
Other Comprehensive Income (Loss), Unrealized Gain (Loss) on Derivatives Arising During Period, before Tax (2)                    
Derivative Instruments, Gain Reclassified from Accumulated OCI into Income, Effective Portion 0                    
Net Investment Hedging [Member] | Other Long-Term Liabilities | Designated as Hedging Instrument [Member} | Foreign currency derivatives                      
Derivative [Line Items]                      
Derivative Asset, Fair Value, Gross Asset Including Not Subject to Master Netting Arrangement 7   7               0
Derivative Liability, Fair Value, Gross Liability Including Not Subject to Master Netting Arrangement 0   0               3
Net Investment Hedging [Member] | Accrued Liabilities | Designated as Hedging Instrument [Member} | Foreign currency derivatives                      
Derivative [Line Items]                      
Derivative Liability, Fair Value, Gross Liability Including Not Subject to Master Netting Arrangement 0   0               0
Net Investment Hedging [Member] | Other Current Assets [Member] | Designated as Hedging Instrument [Member} | Foreign currency derivatives                      
Derivative [Line Items]                      
Derivative Asset, Fair Value, Gross Asset Including Not Subject to Master Netting Arrangement 4   4               0
Cash Flow Hedging [Member] | Poland, Zlotych | Foreign currency derivatives                      
Derivative [Line Items]                      
Derivative, Notional Amount 30   30           ₺ 104    
Cash Flow Hedging [Member] | Singapore, Dollars | Foreign currency derivatives                      
Derivative [Line Items]                      
Derivative, Notional Amount 30   30       $ 47        
Cash Flow Hedging [Member] | Euro Member Countries, Euro | Foreign currency derivatives                      
Derivative [Line Items]                      
Derivative, Notional Amount 100   100         € 88      
Cash Flow Hedging [Member] | Mexico, Pesos | Foreign currency derivatives                      
Derivative [Line Items]                      
Derivative, Notional Amount 50   50             $ 966  
Cash Flow Hedging [Member] | China, Yuan Renminbi | Foreign currency derivatives                      
Derivative [Line Items]                      
Derivative, Notional Amount 120   120     ¥ 814          
Cash Flow Hedging [Member] | Turkey, Lira | Foreign currency derivatives                      
Derivative [Line Items]                      
Derivative, Notional Amount 20   20           ₺ 114    
Cash Flow Hedging [Member] | Designated as Hedging Instrument [Member} | Foreign currency derivatives                      
Derivative [Line Items]                      
Other Comprehensive Income (Loss), Unrealized Gain (Loss) on Derivatives Arising During Period, before Tax 4                    
Derivative Instruments, Gain Reclassified from Accumulated OCI into Income, Effective Portion 2                    
Cash Flow Hedging [Member] | Designated as Hedging Instrument [Member} | Interest Rate Swap [Member]                      
Derivative [Line Items]                      
Other Comprehensive Income (Loss), Unrealized Gain (Loss) on Derivatives Arising During Period, before Tax (9)                    
Derivative Instruments, Gain Reclassified from Accumulated OCI into Income, Effective Portion 0                    
Cash Flow Hedging [Member] | Other Long-Term Liabilities | Designated as Hedging Instrument [Member} | Foreign currency derivatives                      
Derivative [Line Items]                      
Derivative Asset, Fair Value, Gross Asset Including Not Subject to Master Netting Arrangement 0   0               0
Derivative Liability, Fair Value, Gross Liability Including Not Subject to Master Netting Arrangement 12   12                
Derivative Liability (3)   (3)                
Cash Flow Hedging [Member] | Other Noncurrent Assets [Member] | Designated as Hedging Instrument [Member} | Foreign currency derivatives                      
Derivative [Line Items]                      
Derivative Asset, Fair Value, Gross Asset Including Not Subject to Master Netting Arrangement 1   1               0
Derivative Liability, Fair Value, Gross Liability Including Not Subject to Master Netting Arrangement 0   0                
Derivative Asset 0   0                
Cash Flow Hedging [Member] | Other Current Assets [Member] | Designated as Hedging Instrument [Member} | Foreign currency derivatives                      
Derivative [Line Items]                      
Derivative Asset, Fair Value, Gross Asset Including Not Subject to Master Netting Arrangement 5   5               $ 5
Derivative Liability, Fair Value, Gross Liability Including Not Subject to Master Netting Arrangement 0   0                
Derivative Asset $ 1   $ 1                
v3.19.2
Fair Value of Financial Instrument (Details) - USD ($)
$ in Millions
3 Months Ended 6 Months Ended
Jun. 30, 2019
Jun. 30, 2018
Jun. 30, 2019
Jun. 30, 2018
Dec. 31, 2018
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]          
Derivative Asset $ 5   $ 5   $ 0
Debt, Long-term and Short-term, Combined Amount 1,514   1,514   1,531
Derivative, Fair Value, Net 6   6   (2)
Asset Impairment Charges 5 $ 1 8 $ 1  
Fair Value, Inputs, Level 2 [Member]          
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]          
Debt Instrument, Fair Value Disclosure 1,433   1,433   1,415
Fair Value, Recurring [Member]          
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]          
Financial and Nonfinancial Liabilities, Fair Value Disclosure 5   5   6
Assets, Fair Value Disclosure 11   11   4
Fair Value, Recurring [Member] | Fair Value, Inputs, Level 1 [Member]          
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]          
Financial and Nonfinancial Liabilities, Fair Value Disclosure 0   0   0
Assets, Fair Value Disclosure 0   0   0
Fair Value, Recurring [Member] | Fair Value, Inputs, Level 2 [Member]          
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]          
Financial and Nonfinancial Liabilities, Fair Value Disclosure 5   5   6
Assets, Fair Value Disclosure 11   11   4
Fair Value, Recurring [Member] | Fair Value, Inputs, Level 3 [Member]          
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]          
Financial and Nonfinancial Liabilities, Fair Value Disclosure 0   0   0
Assets, Fair Value Disclosure 0   0   0
Foreign currency derivatives | Fair Value, Recurring [Member]          
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]          
Derivative Asset 7   7   4
Foreign currency derivatives | Fair Value, Recurring [Member] | Fair Value, Inputs, Level 1 [Member]          
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]          
Derivative Asset 0   0   0
Foreign currency derivatives | Fair Value, Recurring [Member] | Fair Value, Inputs, Level 2 [Member]          
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]          
Derivative Asset 7   7   4
Foreign currency derivatives | Fair Value, Recurring [Member] | Fair Value, Inputs, Level 3 [Member]          
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]          
Derivative Asset 0   0   0
Interest Rate Swap [Member] | Fair Value, Recurring [Member]          
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]          
Derivative Liability 12   12   3
Interest Rate Swap [Member] | Fair Value, Recurring [Member] | Fair Value, Inputs, Level 1 [Member]          
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]          
Derivative Liability 0   0   0
Interest Rate Swap [Member] | Fair Value, Recurring [Member] | Fair Value, Inputs, Level 2 [Member]          
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]          
Derivative Liability 12   12   3
Interest Rate Swap [Member] | Fair Value, Recurring [Member] | Fair Value, Inputs, Level 3 [Member]          
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]          
Derivative Liability 0   0   0
Currency Swap [Member] | Fair Value, Recurring [Member]          
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]          
Derivative Asset 4   4    
Derivative Liability (7)   (7)   3
Currency Swap [Member] | Fair Value, Recurring [Member] | Fair Value, Inputs, Level 1 [Member]          
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]          
Derivative Asset 0   0    
Derivative Liability 0   0   0
Currency Swap [Member] | Fair Value, Recurring [Member] | Fair Value, Inputs, Level 2 [Member]          
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]          
Derivative Asset 4   4    
Derivative Liability (7)   (7)   3
Currency Swap [Member] | Fair Value, Recurring [Member] | Fair Value, Inputs, Level 3 [Member]          
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]          
Derivative Asset 0   0    
Derivative Liability 0   0   $ 0
Cost of Sales [Member] | Fair Value, Measurements, Nonrecurring          
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]          
Asset Impairment Charges $ 5   $ 8 $ 1  
v3.19.2
Other Income, Net Table (Details) - USD ($)
$ in Millions
3 Months Ended 6 Months Ended
Jun. 30, 2019
Jun. 30, 2018
Jun. 30, 2019
Jun. 30, 2018
Other Income and Expenses [Abstract]        
Interest income $ 2 $ 2 $ 4 $ 3
Components of net periodic benefit cost other than service cost (Note 9) 5 (2) (9) (3)
Other, net 1 4 1 10
Other income (expense), net $ 8 $ 4 $ (4) $ 10
v3.19.2
Share-Based Compensation Share-Based Compensation (Details) - USD ($)
$ / shares in Units, $ in Millions
3 Months Ended 6 Months Ended 12 Months Ended
Apr. 25, 2019
Apr. 24, 2019
Apr. 26, 2018
Apr. 25, 2018
Jun. 30, 2019
Jun. 30, 2019
Jun. 30, 2018
Dec. 31, 2018
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]                
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Number               679,000
Share-based Payment Arrangement, Expense         $ 5   $ 9  
Share-based Payment Arrangement, Expense, after Tax         5   9  
Document Period End Date           Jun. 30, 2019    
Share-based Compensation Arrangement by Share-based Payment Award, Number of Shares Authorized               7,500,000
Share-based Payment Arrangement, Nonvested Award, Excluding Option, Cost Not yet Recognized, Amount         $ 33 $ 33    
Share-based Payment Arrangement, Nonvested Award, Cost Not yet Recognized, Period for Recognition           2 years    
Restricted Stock Units (RSUs) [Member]                
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]                
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Number         1,671,000 1,671,000    
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Vested in Period, Weighted Average Grant Date Fair Value           $ 43.41    
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Forfeited in Period           46,000    
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Forfeitures, Weighted Average Grant Date Fair Value           $ 32.83    
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Weighted Average Grant Date Fair Value         $ 28.47 $ 28.47   $ 42.70
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Grants in Period           1,210,000    
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Grants in Period, Weighted Average Grant Date Fair Value           $ 24.87    
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Vested in Period           172,000    
PLC Long Term Incentive Plan [Member] | Restricted Stock Units (RSUs) [Member]                
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]                
Share-based Compensation Arrangement By Share-based Payment Award, Equity Instruments Other Than Options, Granted In Period, Fair Value           $ 27 $ 16  
Management [Member] | PLC Long Term Incentive Plan [Member] | 2019 Grant [Member] [Member] | Restricted Stock Units (RSUs) [Member]                
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]                
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Grants in Period           1,000,000.0    
Management [Member] | PLC Long Term Incentive Plan [Member] | 2018 Grant [Member] | Restricted Stock Units (RSUs) [Member]                
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]                
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Grants in Period             300,000  
Employee and Non-employee members [Member] | Restricted Stock Units (RSUs) [Member]                
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]                
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Grants in Period 70,924 33,944 34,756          
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Vested in Period, Fair Value $ 2 $ 1   $ 2        
Employee and Non-employee members [Member] | Share-based Payment Arrangement, Option [Member]                
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]                
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Vested in Period, Fair Value           $ 3    
Share-based Compensation Arrangement by Share-based Payment Award, Expiration Date           10 years    
Executive Officer [Member] | Delphi Technologies PLC Long Term Incentive Plan [Member] | Restricted Stock Units (RSUs) [Member] | Share-based Payment Arrangement, Tranche One [Member]                
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]                
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Rights, Percentage               33.00%
Executive Officer [Member] | Delphi Technologies PLC Long Term Incentive Plan [Member] | Restricted Stock Units (RSUs) [Member] | Share-based Payment Arrangement, Tranche Two [Member]                
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]                
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Rights, Percentage               67.00%
Other Executive [Member] | Delphi Technologies PLC Long Term Incentive Plan [Member] | Restricted Stock Units (RSUs) [Member] | Share-based Payment Arrangement, Tranche One [Member]                
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]                
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Rights, Percentage               50.00%
Other Executive [Member] | Delphi Technologies PLC Long Term Incentive Plan [Member] | Restricted Stock Units (RSUs) [Member] | Share-based Payment Arrangement, Tranche Two [Member]                
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]                
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Rights, Percentage               50.00%
Executive [Member] | Delphi Technologies PLC Long Term Incentive Plan [Member] | Restricted Stock Units (RSUs) [Member] | Maximum [Member] | Share-based Payment Arrangement, Tranche Two [Member]                
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]                
Share-based Compensation Arrangement by Share-based Payment Award, Target Performance, Percentage               200.00%
v3.19.2
Segment Reporting Reconciliation of Sales and Operating Data (Details) - USD ($)
$ in Millions
3 Months Ended 6 Months Ended
Jun. 30, 2019
Jun. 30, 2018
Jun. 30, 2019
Jun. 30, 2018
Segment Reporting Information [Line Items]        
Net sales $ 1,121 $ 1,232 $ 2,272 $ 2,528
Depreciation and amortization 57 48 110 98
Adjusted operating income 81 156 168 315
Operating income 56 122 111 260
Equity (loss) income, net of tax (1) 3 1 6
Net income attributable to noncontrolling interest 4 4 7 11
Powertrain Systems Segment [Member]        
Segment Reporting Information [Line Items]        
Net sales 907 1,017 1,865 2,096
Aftermarket Segment [Member]        
Segment Reporting Information [Line Items]        
Net sales 214 215 407 432
Operating Segments | Powertrain Systems Segment [Member]        
Segment Reporting Information [Line Items]        
Net sales 971 1,086 1,991 2,239
Depreciation and amortization 55 47 107 96
Adjusted operating income 64 134 140 276
Operating income 43 105 90 228
Equity (loss) income, net of tax (1) 3 1 6
Net income attributable to noncontrolling interest 4 4 7 11
Operating Segments | Aftermarket Segment [Member]        
Segment Reporting Information [Line Items]        
Net sales 214 215 407 432
Depreciation and amortization 2 1 3 2
Adjusted operating income 17 22 28 39
Operating income 13 17 21 32
Equity (loss) income, net of tax 0 0 0 0
Net income attributable to noncontrolling interest 0 0 0 0
Intersegment Eliminations        
Segment Reporting Information [Line Items]        
Net sales (64) (69) (126) (143)
Depreciation and amortization 0 0 0 0
Adjusted operating income 0 0 0 0
Operating income 0 0 0 0
Equity (loss) income, net of tax 0 0 0 0
Net income attributable to noncontrolling interest $ 0 $ 0 $ 0 $ 0
v3.19.2
Segment Reporting Reconciliation of Adjusted OI to Net Income (Details) - USD ($)
$ in Millions
3 Months Ended 6 Months Ended
Jun. 30, 2019
Mar. 31, 2019
Jun. 30, 2018
Mar. 31, 2018
Jun. 30, 2019
Jun. 30, 2018
Reconciliation of Segment Adjusted OI to Consolidated Net Income            
Adjusted operating income $ 81   $ 156   $ 168 $ 315
Pension Charges         (10) (2)
Restructuring (5)   (12)   (8) (23)
Separation Costs 13   (21)   31 (31)
Asset impairments (5)   (1)   (8) (1)
Operating income 56   122   111 260
Interest expense (18)   (19)   (36) (39)
Other income (expense), net 8   4   (4) 10
Income before income taxes and equity income 46   107   71 231
Income tax expense (14)   (20)   (22) (42)
Equity (loss) income, net of tax (1)   3   1 6
Net income 31 $ 19 90 $ 105 50 195
Net income attributable to noncontrolling interest 4   4   7 11
Net income attributable to Delphi Technologies 27   86   43 184
Powertrain Systems Segment [Member]            
Reconciliation of Segment Adjusted OI to Consolidated Net Income            
Restructuring (4)   (11)   (7) (22)
Aftermarket Segment [Member]            
Reconciliation of Segment Adjusted OI to Consolidated Net Income            
Restructuring (1)   (1)   (1) (1)
Operating Segments | Signal and Power Solutions [Member]            
Reconciliation of Segment Adjusted OI to Consolidated Net Income            
Pension Charges         (9)  
Operating Segments | Advanced Safety and User Experience [Member]            
Reconciliation of Segment Adjusted OI to Consolidated Net Income            
Pension Charges         (1)  
Operating Segments | Powertrain Systems Segment [Member]            
Reconciliation of Segment Adjusted OI to Consolidated Net Income            
Adjusted operating income 64   134   140 276
Pension Charges           (2)
Restructuring (4)   (11)   (7) (22)
Separation Costs 11   (17)   27 (25)
Asset impairments (4)   (1)   (7) (1)
Operating income 43   105   90 228
Equity (loss) income, net of tax (1)   3   1 6
Operating Segments | Aftermarket Segment [Member]            
Reconciliation of Segment Adjusted OI to Consolidated Net Income            
Adjusted operating income 17   22   28 39
Pension Charges           0
Restructuring (1)   (1)   (1) (1)
Separation Costs 2   (4)   4 (6)
Asset impairments (1)   0   (1) 0
Operating income 13   17   21 32
Equity (loss) income, net of tax 0   0   0 0
Intersegment Eliminations            
Reconciliation of Segment Adjusted OI to Consolidated Net Income            
Adjusted operating income 0   0   0 0
Pension Charges         0 0
Restructuring 0   0   0 0
Separation Costs 0   0   0 0
Asset impairments 0   0   0 0
Operating income 0   0   0 0
Equity (loss) income, net of tax $ 0   $ 0   $ 0 $ 0