Delphi provided earnings guidance for 2013 and 2014. For 2013 the midpoint of its guidance for revenue currently totals roughly $16.4 billion. That's an increase of 5% versus 2012, 1% when adjusted for foreign-exchange commodities as well as acquisitions. Operating income, which includes roughly $550 million of depreciation and amortization, is expected to increase 9% to $1.8 billion. That represents roughly 11.1% operating income margin, up 30 basis points from the 2012 period. And then lastly, the midpoint of its guidance for earnings per share is $4.30. That's an increase of 12% from 2012. Now the company's 2013 results will reflect a challenging macro environment in Europe, especially in the first half of 2013, partially offset by very aggressive cost controls as well as extremely strong operating performance in the business.

Based on customer build schedules near term, the management estimates, as well as the IHS, the company estimates global production is going to be up roughly 3% in 2014 to roughly 90 million units. The company expects North America production to be up 4%; Europe to be flat to up 2%; China production to continue to be very strong high single digits, 9%; and then South America to increase mid-single digits, 5% here. Foreign exchange and commodity prices on a year-over-year basis are actually expected to be relatively stable. The company currently expects revenues to be in the range of $17.2 billion to $17.6 billion. That represents roughly a 6% growth rate at the midpoint of the company's range. Operating income, which includes approximately $600 million of depreciation and amortization, is forecasted to increase to a range of $1.95 billion to $2.05 billion. That represents EBIT margins of 11.3% to 11.6%, mainly driven by the flow-through on net additional volume, benefits associated with the restructuring initiatives that the company put in place, as well as the MVL-related synergies we have talked about previously. Partially offset, by 2014, the company will spend incremental dollars on both advanced engineering, as well as in information systems. The company expects earnings per share to be in the range of $4.70 to $4.95. That assumes an average share count of 309 million shares, which is roughly where the company expects to end this year -- calendar year 2013, and an 18% tax rate. Cash flow before financing is projected to be a total of $1.1 billion. That will be net of roughly $200 million of restructuring spend. The company is going to do some incremental restructuring in 2014 as well as $800 million of CapEx.