Three Months Ended

March 31

2015

2014

Diluted earnings per share:

Net income attributable to Visteon

$

50

$

19

    Average shares outstanding, diluted (in millions)

45.5

49.6

Diluted earnings per share

1.10

0.38

Adjusted earnings per share:

Net income attributable to Visteon

$

50

$

19

Transformation and integration costs

14

6

Restructuring expense

4

1

Other

2

—

Loss from discontinued operations, net of tax

23

6

Adjusted net income

$

93

$

32

    Average shares outstanding, diluted (in millions)

45.5

49.6

Adjusted earnings per share

$

2.04

$

0.65

Adjusted net income and Adjusted earnings per share are not recognized terms under U.S. GAAP and do not purport to be a substitute for profitability. Adjusted net income and Adjusted earnings per share have limitations as analytical tools as they do not consider certain restructuring and transaction-related payments and/or expenses. In addition, the Company uses Adjusted net income and Adjusted earnings per share for planning and forecasting future periods.