EX-99.1 3 exhibit9918-k05022012.htm EX-99.1 Exhibit 99.1 8-K 05.02.2012


Exhibit 99.1

ITEM 6. SELECTED FINANCIAL DATA

The following table presents information from the Company's consolidated financial statements for each of the five years ended December 31. In connection with the Lighting Transaction, the results of operations of the Lighting business have been reclassified to “Income from discontinued operations, net of tax” in the Consolidated Statements of Operations, and are provided in the table below. This information should be read in conjunction with “Management's Discussion and Analysis of Financial Condition and Results of Operations” and “Financial Statements and Supplementary Data” included under Items 7 and 8, respectively, of this Annual Report on Form 10-K.
 
Successor
 
 
Predecessor
 
Year Ended December 31
 
Three months Ended December 31
 
 
Nine Months Ended October 1
 
Year Ended December 31
 
Year Ended December 31
 
Year Ended December 31
 
2011
 
2010
 
 
2010
 
2009
 
2008
 
2007
 
(Dollars in Millions, Except Per Share Amounts)
Statement of Operations Data
 
 
 
 
 
 
 
 
 
 
 
 
Net sales
$
7,532

 
$
1,778

 
 
$
5,244

 
$
6,328

 
$
8,963

 
$
10,727

Gross margin
618

 
244

 
 
549

 
618

 
494

 
613

Income (loss) from continuing operations before income taxes
337

 
129

 
 
1,130

 
299

 
(465
)
 
(230
)
Net income (loss) from continuing operations
210

 
105

 
 
982

 
227

 
(583
)
 
(250
)
Income (loss) from discontinued operations, net of tax
(56
)
 
—

 
 
14

 
(43
)
 
(64
)
 
(79
)
Net income (loss)
154

 
105

 
 
996

 
184

 
(647
)
 
(329
)
Net income attributable to non-controlling interests
74

 
19

 
 
56

 
56

 
34

 
43

Net income (loss) attributable to Visteon Corporation:
 
 
 
 
 
 
 
 
 
 
 
 
      Net income (loss) from continuing operations
136

 
86

 
 
926

 
171

 
(617
)
 
(293
)
      Income (loss) from discontinued operations
(56
)
 
—

 
 
14

 
(43
)
 
(64
)
 
(79
)
Net income (loss) attributable to Visteon Corporation
$
80

 
$
86

 
 
$
940

 
$
128

 
$
(681
)
 
$
(372
)
 
 
 
 
 
 
 
 
 
 
 
 
 
Basic earnings per share:
 
 
 
 
 
 
 
 
 
 
 
 
      Continuing operations
$
2.65

 
$
1.71

 
 
$
7.10

 
$
1.31

 
$
(4.77
)
 
$
(2.26
)
      Discontinued operations
(1.09
)
 
—

 
 
0.11

 
(0.33
)
 
(0.49
)
 
(0.61
)
Basic earnings (loss) attributable to Visteon Corporation
$
1.56

 
$
1.71

 
 
$
7.21

 
$
0.98

 
$
(5.26
)
 
$
(2.87
)
 
 
 
 
 
 
 
 
 
 
 
 
 
Diluted earnings per share:
 
 
 
 
 
 
 
 
 
 
 
 
      Continuing operations
$
2.62

 
$
1.66

 
 
$
7.10

 
$
1.31

 
$
(4.77
)
 
$
(2.26
)
      Discontinued operations
(1.08
)
 
—

 
 
0.11

 
(0.33
)
 
(0.49
)
 
(0.61
)
Diluted earnings (loss) attributable to Visteon Corporation
$
1.54

 
$
1.66

 
 
$
7.21

 
$
0.98

 
$
(5.26
)
 
$
(2.87
)
 
 
 
 
 
 
 
 
 
 
 
 
 
Balance Sheet Data
 
 
 
 
 
 
 
 
 
 
 
 
Total assets
$
4,969

 
$
5,208

 
 
N/A

 
$
5,019

 
$
5,248

 
$
7,205

Total debt
$
599

 
$
561

 
 
N/A

 
$
231

 
$
2,762

 
$
2,840

Total Visteon Corporation shareholders' equity (deficit)
$
1,307

 
$
1,260

 
 
N/A

 
$
(772
)
 
$
(887
)
 
$
(90
)
 
 
 
 
 
 
 
 
 
 
 
 
 
Statement of Cash Flows Data
 
 
 
 
 
 
 
 
 
 
 
 
Cash provided from (used by) operating activities
$
175

 
$
154

 
 
$
20

 
$
141

 
$
(116
)
 
$
293

Cash used by investing activities
$
(331
)
 
$
(76
)
 
 
$
(75
)
 
$
(123
)
 
$
(208
)
 
$
(177
)
Cash (used by) provided from financing activities
$
(3
)
 
$
(40
)
 
 
$
(42
)
 
$
(259
)
 
$
(193
)
 
$
547