Segments, Geographical Area and Major Customer Information

12 Months Ended

Dec. 31, 2014

Segment Reporting [Abstract]

Segments, Geographical Area and Major Customer Information

Segments, Geographical Area and Major Customer Information

We are a global provider of high technology driveline, sealing and thermal-management products for virtually every major vehicle manufacturer in the on-highway and off-highway markets. Our driveline products – axles, driveshafts and transmissions – are delivered through our Light Vehicle, Commercial Vehicle and Off-Highway operating segments. Our fourth global operating segment – Power Technologies – is the center of excellence for the sealing and thermal technologies that span all customers in our on-highway and off-highway markets.  These operating segments have global responsibility and accountability for business commercial activities and financial performance.

Dana evaluates the performance of its operating segments based on external sales and segment EBITDA.  Segment EBITDA is a primary driver of cash flows from operations and a measure of our ability to maintain and continue to invest in our operations and provide shareholder returns. Our segments are charged for corporate and other shared administrative costs.  Segment EBITDA may not be comparable to similarly titled measures reported by other companies.

Segment information —

2014	External Sales		Inter- Segment Sales			Segment EBITDA		Capital Spend		Depreciation		Net Assets
Light Vehicle	$	2,496	$	139		$	250	$	129	$	63	$	1,002
Commercial Vehicle	1,838		92			172		38		34		869
Off-Highway	1,231		37			169		23		21		344
Power Technologies	1,052		19			154		30		32		442
Eliminations and other			(287		)			14		14		403
Total	$	6,617	$	—		$	745	$	234	$	164	$	3,060
2013
Light Vehicle	$	2,549	$	124		$	242	$	82	$	67	$	970
Commercial Vehicle	1,860		119			194		40		44		938
Off-Highway	1,330		44			163		33		18		379
Power Technologies	1,030		21			150		33		35		454
Eliminations and other			(308		)			21		11		338
Total	$	6,769	$	—		$	749	$	209	$	175	$	3,079
2012
Light Vehicle	$	2,743	$	186		$	263	$	47	$	82	$	1,068
Commercial Vehicle	1,960		134			199		30		38		860
Off-Highway	1,509		54			189		22		18		409
Power Technologies	1,012		21			137		24		41		471
Eliminations and other			(395		)			41		11		435
Total	$	7,224	$	—		$	788	$	164	$	190	$	3,243

Net assets include certain cash balances, accounts receivable, inventories, other current assets, certain intangibles, investments in affiliates, other noncurrent assets, net property, plant and equipment, notes payable and short term debt, accounts payable and current accrued liabilities.

Reconciliation of segment EBITDA to consolidated net income —

	2014			2013			2012
Segment EBITDA	$	745		$	749		$	788
Corporate expense and other items, net	1			(2		)	(11		)
Expenses previously allocated to Structures							(1		)
Depreciation	(164		)	(175		)	(188		)
Amortization of intangibles	(49		)	(87		)	(87		)
Restructuring	(21		)	(24		)	(47		)
Stock compensation expense	(16		)	(16		)	(17		)
Strategic transaction expenses and other items	6			(4		)	(7		)
Loss on disposal group held for sale	(80		)
Pension settlement charges	(42		)
Loss on extinguishment of debt	(19		)
Write-off of deferred financing costs				(4		)
Recognition of unrealized gain on payment-in-kind note receivable	2			5
Impairment and loss on sale of assets							(6		)
Interest expense	(118		)	(99		)	(84		)
Interest income	15			25			24
Income from continuing operations before income taxes	260			368			364
Income tax expense (benefit)	(70		)	119			51
Equity in earnings of affiliates	13			12			2
Income from continuing operations	343			261			315
Loss from discontinued operations	(15		)	(1		)	—
Net income	$	328		$	260		$	315

Reconciliation of segment net assets to consolidated total assets —

	2014		2013
Segment net assets	$	3,060	$	3,079
Accounts payable and other current liabilities	1,261		1,268
Other current and long-term assets	609		782
Consolidated total assets	$	4,930	$	5,129

Geographic information — Of our 2014 consolidated net sales, the U.S., Italy, Brazil and Germany account for 42%, 11%, 8% and 6%, respectively. No other country accounts for more than 5% of our consolidated net sales. Sales are attributed to the location of the product entity recording the sale. Long-lived assets represent property, plant and equipment.

	Net Sales						Long-Lived Assets
	2014		2013		2012		2014		2013		2012
North America
United States	$	2,760	$	2,559	$	2,975	$	368	$	311	$	300
Other North America	366		399		396		111		131		138
Total	3,126		2,958		3,371		479		442		438
Europe
Italy	703		734		731		61		71		64
Germany	429		410		408		106		124		118
Other Europe	846		850		882		151		161		158
Total	1,978		1,994		2,021		318		356		340
South America
Brazil	505		639		574		119		129		136
Other South America	266		344		351		22		56		73
Total	771		983		925		141		185		209
Asia Pacific	742		834		907		238		242		252
Total	$	6,617	$	6,769	$	7,224	$	1,176	$	1,225	$	1,239

Sales to major customers — Ford is the only individual customer to whom sales have exceeded 10% of our consolidated sales in the past three years. Sales to Ford for the three most recent years were $1,217 (18% ) in 2014, $1,226 (18%) in 2013 and $1,254 (17% ) in 2012.