Quarterly Results (Unaudited)

12 Months Ended

Dec. 31, 2019

Quarterly Financial Information Disclosure [Abstract]

Quarterly Results Unaudited [Text Block]

Dana Incorporated

Quarterly Results (Unaudited)

(In millions, except per share amounts)

2019	First Quarter		Second Quarter			Third Quarter		Fourth Quarter
Net sales	$	2,163	$	2,306		$	2,164	$	1,987
Gross margin	$	300	$	326		$	282	$	223
Net income (loss)	$	101	$	(66	)	$	112	$	86
Net income (loss) attributable to the parent company	$	98	$	(68	)	$	111	$	85
Net income (loss) per share available to parent company common stockholders
Basic	$	0.68	$	(0.47	)	$	0.77	$	0.59
Diluted	$	0.68	$	(0.47	)	$	0.77	$	0.58

2018	First Quarter		Second Quarter		Third Quarter		Fourth Quarter
Net sales	$	2,138	$	2,054	$	1,978	$	1,973
Gross margin	$	307	$	308	$	286	$	256
Net income	$	111	$	127	$	96	$	106
Net income attributable to the parent company	$	108	$	124	$	95	$	100
Net income per share available to parent company common stockholders
Basic	$	0.74	$	0.85	$	0.66	$	0.69
Diluted	$	0.73	$	0.85	$	0.65	$	0.69

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Note: Gross margin is net sales less cost of sales.

Net income for the first quarter of 2019 includes $16 of net income tax benefits related to discrete items. Net loss for the second quarter of 2019 includes a $258 pre-tax pension settlement charge related to the termination of one of our U.S. defined benefit pension plans and $87 of net income tax benefits related to discrete items. Net income for the third quarter of 2019 includes $22 of income tax benefit related to a discrete item. Net income for the fourth quarter of 2019 includes a $6 pre-tax goodwill impairment charge and a $9 pre-tax loss on extinguishment of debt.

Net income for the second quarter of 2018 includes a $20 pre-tax charge to fully impair intangible assets used in research and development activities and $39 of net income tax benefits related to discrete items. See Note 4 and Note 19 for additional information.