Note: Gross margin is net sales less cost of sales. Net income for the fourth quarter of 2014 includes an  $80 loss on the disposal group held for sale, $42 of pension  settlement charges, a $19 loss on extinguishment of debt and deferred tax asset valuation allowance release of  $179. The  amount paid in the third quarter of 2013 to redeem our Series  A preferred stock exceeded the carrying value.  This redemption  premium is treated like a dividend on preferred stock and deducted from net income attributable to the parent company in  arriving at net income (loss) available to common stockholders. 87 2014 First Quarter Second Quarter Third Quarter Fourth Quarter Net sales $ 1,688 $ 1,710 $ 1,637 $ 1,582 Gross margin $ 234 $ 248 $ 240 $ 223 Net income $ 37 $ 90 $ 93 $ 108 Net income attributable to the parent company $ 34 $ 86 $ 90 $ 109 Net income per share available to parent company common stockholders Basic $ 0.21 $ 0.54 $ 0.56 $ 0.65 Diluted $ 0.19 $ 0.49 $ 0.52 $ 0.64 2013 First Quarter Second Quarter Third Quarter Fourth Quarter Net sales $ 1,676 $ 1,800 $ 1,669 $ 1,624 Gross margin $ 214 $ 259 $ 235 $ 212 Net income $ 50 $ 96 $ 71 $ 43 Net income attributable to the parent company $ 42 $ 92 $ 68 $ 42 Preferred stock redemption premium $ 232 Net income (loss) per share available to parent company common stockholders Basic $ 0.23 $ 0.58 $ (1.16) $ 0.26 Diluted $ 0.19 $ 0.44 $ (1.16) $ 0.23 Dana Holding Corporation Quarterly Results (Unaudited) (In millions, except per share amounts)