10-Q Filing

LEAR CORP CIK: 842162 Q1 2018

Filing Information

Form Type	10-Q
Accession Number	`0000842162-18-000017`
Period End Date	20180331
Filing Date	20180426
Fiscal Year	2018
Fiscal Period	Q1
XBRL Instance	lea-20180331.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 74 Income Statement 40 Cash Flow Statement 58

Balance Sheet 74 line items

Line Item	Tag	Value	Unit	Period
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$1.21B	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$1.50B	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$1.27B	USD	Point-in-time
Accounts receivable	`AccountsReceivableNetCurrent`	$3.80B	USD	Point-in-time
Accounts receivable	`AccountsReceivableNetCurrent`	$3.23B	USD	Point-in-time
Inventories	`InventoryNet`	$1.27B	USD	Point-in-time
Inventories	`InventoryNet`	$1.21B	USD	Point-in-time
Other	`OtherAssetsCurrent`	$769.70M	USD	Point-in-time
Other	`OtherAssetsCurrent`	$676.10M	USD	Point-in-time
Preferred stock, shares authorized (in shares)	`PreferredStockSharesAuthorized`	100.00M	shares	Point-in-time
Preferred stock, shares authorized (in shares)	`PreferredStockSharesAuthorized`	100.00M	shares	Point-in-time
Total current assets	`AssetsCurrent`	$7.10B	USD	Point-in-time
Preferred stock, shares outstanding (in shares)	`PreferredStockSharesOutstanding`	0.00	shares	Point-in-time
Total current assets	`AssetsCurrent`	$6.61B	USD	Point-in-time
Preferred stock, shares outstanding (in shares)	`PreferredStockSharesOutstanding`	0.00	shares	Point-in-time
Common stock, par value (in dollars per share)	`CommonStockParOrStatedValuePerShare`	$0.01	USD	Point-in-time
Common stock, par value (in dollars per share)	`CommonStockParOrStatedValuePerShare`	$0.01	USD	Point-in-time
Common stock, shares authorized (in shares)	`CommonStockSharesAuthorized`	300.00M	shares	Point-in-time
Common stock, shares authorized (in shares)	`CommonStockSharesAuthorized`	300.00M	shares	Point-in-time
Property, plant and equipment, net	`PropertyPlantAndEquipmentNet`	$2.46B	USD	Point-in-time
Property, plant and equipment, net	`PropertyPlantAndEquipmentNet`	$2.56B	USD	Point-in-time
Common stock, shares issued (in shares)	`CommonStockSharesIssued`	72.56M	shares	Point-in-time
Goodwill	`Goodwill`	$1.40B	USD	Point-in-time
Common stock, shares issued (in shares)	`CommonStockSharesIssued`	72.56M	shares	Point-in-time
Goodwill	`Goodwill`	$1.46B	USD	Point-in-time
Common stock held in treasury, shares (in shares)	`TreasuryStockShares`	5.69M	shares	Point-in-time
Other	`OtherAssetsNoncurrent`	$1.47B	USD	Point-in-time
Common stock held in treasury, shares (in shares)	`TreasuryStockShares`	6.19M	shares	Point-in-time
Other	`OtherAssetsNoncurrent`	$1.56B	USD	Point-in-time
Total long-term assets	`AssetsNoncurrent`	$5.58B	USD	Point-in-time
Total long-term assets	`AssetsNoncurrent`	$5.33B	USD	Point-in-time
Total assets	`Assets`	$12.68B	USD	Point-in-time
Total assets	`Assets`	$11.95B	USD	Point-in-time
Total assets	`Assets`	$10.60B	USD	Point-in-time
Short-term borrowings	`ShortTermBorrowings`	-	USD	Point-in-time
Short-term borrowings	`ShortTermBorrowings`	$2.90M	USD	Point-in-time
Accounts payable and drafts	`AccountsPayableCurrent`	$3.17B	USD	Point-in-time
Accounts payable and drafts	`AccountsPayableCurrent`	$3.48B	USD	Point-in-time
Accrued liabilities	`OtherLiabilitiesCurrent`	$1.68B	USD	Point-in-time
Accrued liabilities	`OtherLiabilitiesCurrent`	$1.80B	USD	Point-in-time
Current portion of long-term debt	`LongTermDebtAndCapitalLeaseObligationsCurrent`	$9.00M	USD	Point-in-time
Current portion of long-term debt	`LongTermDebtAndCapitalLeaseObligationsCurrent`	$9.10M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$4.85B	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$5.30B	USD	Point-in-time
Long-term debt	`LongTermDebtAndCapitalLeaseObligations`	$1.95B	USD	Point-in-time
Long-term debt	`LongTermDebtAndCapitalLeaseObligations`	$1.95B	USD	Point-in-time
Other	`OtherLiabilitiesNoncurrent`	$694.10M	USD	Point-in-time
Other	`OtherLiabilitiesNoncurrent`	$709.90M	USD	Point-in-time
Total long-term liabilities	`LiabilitiesNoncurrent`	$2.66B	USD	Point-in-time
Total long-term liabilities	`LiabilitiesNoncurrent`	$2.65B	USD	Point-in-time
Redeemable noncontrolling interest	`RedeemableNoncontrollingInterestEquityCarryingAmount`	$153.40M	USD	Point-in-time
Redeemable noncontrolling interest	`RedeemableNoncontrollingInterestEquityCarryingAmount`	$170.30M	USD	Point-in-time
Preferred stock, 100,000,000 shares authorized (including 10,896,250 Series A convertible preferred stock authorized); no shares outstanding	`PreferredStockValue`	-	USD	Point-in-time
Preferred stock, 100,000,000 shares authorized (including 10,896,250 Series A convertible preferred stock authorized); no shares outstanding	`PreferredStockValue`	-	USD	Point-in-time
Common stock, $0.01 par value, 300,000,000 shares authorized; 72,563,291 shares issued as of March 31, 2018 and December 31, 2017	`CommonStockValue`	$700.00K	USD	Point-in-time
Common stock, $0.01 par value, 300,000,000 shares authorized; 72,563,291 shares issued as of March 31, 2018 and December 31, 2017	`CommonStockValue`	$700.00K	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapital`	$1.16B	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapital`	$1.22B	USD	Point-in-time
Common stock held in treasury, 6,191,389 and 5,689,527 shares as of March 31, 2018 and December 31, 2017, respectively, at cost	`TreasuryStockValue`	$851.70M	USD	Point-in-time
Common stock held in treasury, 6,191,389 and 5,689,527 shares as of March 31, 2018 and December 31, 2017, respectively, at cost	`TreasuryStockValue`	$724.10M	USD	Point-in-time
Retained earnings	`RetainedEarningsAccumulatedDeficit`	$4.47B	USD	Point-in-time
Retained earnings	`RetainedEarningsAccumulatedDeficit`	$4.17B	USD	Point-in-time
Accumulated other comprehensive loss	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$-513.40M	USD	Point-in-time
Accumulated other comprehensive loss	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$-380.80M	USD	Point-in-time
Lear Corporation stockholders equity	`StockholdersEquity`	$4.15B	USD	Point-in-time
Lear Corporation stockholders equity	`StockholdersEquity`	$4.40B	USD	Point-in-time
Noncontrolling interests	`MinorityInterest`	$155.20M	USD	Point-in-time
Noncontrolling interests	`MinorityInterest`	$142.10M	USD	Point-in-time
Equity	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$4.29B	USD	Point-in-time
Equity	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$4.55B	USD	Point-in-time
Equity	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$3.46B	USD	Point-in-time
Equity	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$3.19B	USD	Point-in-time
Total liabilities and equity	`LiabilitiesAndStockholdersEquity`	$12.68B	USD	Point-in-time
Total liabilities and equity	`LiabilitiesAndStockholdersEquity`	$11.95B	USD	Point-in-time

Income Statement 40 line items

Line Item	Tag	Value	Unit	Period
Net sales	`SalesRevenueGoodsNet`	$5.73B	USD	1 Quarter
Net sales	`SalesRevenueGoodsNet`	$5.00B	USD	1 Quarter
Cost of sales	`CostOfGoodsSold`	$5.10B	USD	1 Quarter
Cost of sales	`CostOfGoodsSold`	$4.42B	USD	1 Quarter
Selling, general and administrative expenses	`SellingGeneralAndAdministrativeExpense`	$155.40M	USD	1 Quarter
Selling, general and administrative expenses	`SellingGeneralAndAdministrativeExpense`	$155.70M	USD	1 Quarter
Amortization of intangible assets	`AmortizationOfIntangibleAssets`	$10.10M	USD	1 Quarter
Amortization of intangible assets	`AmortizationOfIntangibleAssets`	$13.10M	USD	1 Quarter
Interest expense	`InterestExpense`	$20.70M	USD	1 Quarter
Interest expense	`InterestExpense`	$20.80M	USD	1 Quarter
Other (income) expense, net	`OtherIncomeExpenseNet`	$-3.70M	USD	1 Quarter
Other (income) expense, net	`OtherIncomeExpenseNet`	$5.60M	USD	1 Quarter
Consolidated income before provision for income taxes and equity in net income of affiliates	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments`	$392.20M	USD	1 Quarter
Consolidated income before provision for income taxes and equity in net income of affiliates	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments`	$447.80M	USD	1 Quarter
Provision for income taxes	`IncomeTaxExpenseBenefit`	$89.10M	USD	1 Quarter
Provision for income taxes	`IncomeTaxExpenseBenefit`	$77.70M	USD	1 Quarter
Equity in net income of affiliates	`IncomeLossFromEquityMethodInvestments`	$15.40M	USD	1 Quarter
Equity in net income of affiliates	`IncomeLossFromEquityMethodInvestments`	$4.10M	USD	1 Quarter
Consolidated net income	`ProfitLoss`	$374.20M	USD	1 Quarter
Consolidated net income	`ProfitLoss`	$318.50M	USD	1 Quarter
Less: Net income attributable to noncontrolling interests	`NetIncomeLossAttributableToNoncontrollingInterest`	$12.70M	USD	1 Quarter
Less: Net income attributable to noncontrolling interests	`NetIncomeLossAttributableToNoncontrollingInterest`	$20.50M	USD	1 Quarter
Net income attributable to Lear	`NetIncomeLoss`	$305.80M	USD	1 Quarter
Net income attributable to Lear	`NetIncomeLoss`	$353.70M	USD	1 Quarter
Basic net income per share available to Lear common stockholders (in dollars per share)	`EarningsPerShareBasic`	$5.19	USD	1 Quarter
Basic net income per share available to Lear common stockholders (in dollars per share)	`EarningsPerShareBasic`	$4.39	USD	1 Quarter
Diluted net income per share available to Lear common stockholders (in dollars per share)	`EarningsPerShareDiluted`	$4.35	USD	1 Quarter
Diluted net income per share available to Lear common stockholders (in dollars per share)	`EarningsPerShareDiluted`	$5.16	USD	1 Quarter
Cash dividends declared per share (in dollars per share)	`CommonStockDividendsPerShareDeclared`	$0.70	USD	1 Quarter
Cash dividends declared per share (in dollars per share)	`CommonStockDividendsPerShareDeclared`	$0.50	USD	1 Quarter
Average common shares outstanding (in shares)	`WeightedAverageNumberOfSharesOutstandingBasic`	67.09M	shares	1 Quarter
Average common shares outstanding (in shares)	`WeightedAverageNumberOfSharesOutstandingBasic`	69.66M	shares	1 Quarter
Average diluted shares outstanding (in shares)	`WeightedAverageNumberOfDilutedSharesOutstanding`	67.56M	shares	1 Quarter
Average diluted shares outstanding (in shares)	`WeightedAverageNumberOfDilutedSharesOutstanding`	70.33M	shares	1 Quarter
Consolidated comprehensive income	`ComprehensiveIncomeNetOfTaxIncludingPortionAttributableToNoncontrollingInterest`	$520.00M	USD	1 Quarter
Consolidated comprehensive income	`ComprehensiveIncomeNetOfTaxIncludingPortionAttributableToNoncontrollingInterest`	$422.10M	USD	1 Quarter
Less: Comprehensive income attributable to noncontrolling interests	`ComprehensiveIncomeNetOfTaxAttributableToNoncontrollingInterest`	$13.80M	USD	1 Quarter
Less: Comprehensive income attributable to noncontrolling interests	`ComprehensiveIncomeNetOfTaxAttributableToNoncontrollingInterest`	$33.70M	USD	1 Quarter
Comprehensive income attributable to Lear	`ComprehensiveIncomeNetOfTax`	$486.30M	USD	1 Quarter
Comprehensive income attributable to Lear	`ComprehensiveIncomeNetOfTax`	$408.30M	USD	1 Quarter

Cash Flow Statement 58 line items

Line Item	Tag	Value	Unit	Period
Consolidated net income	`ProfitLoss`	$374.20M	USD	1 Quarter
Consolidated net income	`ProfitLoss`	$318.50M	USD	1 Quarter
Depreciation and amortization	`DepreciationDepletionAndAmortization`	$120.20M	USD	1 Quarter
Depreciation and amortization	`DepreciationDepletionAndAmortization`	$96.90M	USD	1 Quarter
Net change in recoverable customer engineering, development and tooling	`IncreaseDecreaseinRecoverableCustomerEngineeringDevelopmentandTooling`	$7.40M	USD	1 Quarter
Net change in recoverable customer engineering, development and tooling	`IncreaseDecreaseinRecoverableCustomerEngineeringDevelopmentandTooling`	$22.50M	USD	1 Quarter
Net change in working capital items (see below)	`IncreaseDecreaseInOtherOperatingCapitalNet`	$145.30M	USD	1 Quarter
Net change in working capital items (see below)	`IncreaseDecreaseInOtherOperatingCapitalNet`	$252.60M	USD	1 Quarter
Other, net	`OtherOperatingActivitiesCashFlowStatement`	$-27.50M	USD	1 Quarter
Other, net	`OtherOperatingActivitiesCashFlowStatement`	$1.40M	USD	1 Quarter
Net cash provided by operating activities	`NetCashProvidedByUsedInOperatingActivities`	$236.80M	USD	1 Quarter
Net cash provided by operating activities	`NetCashProvidedByUsedInOperatingActivities`	$278.90M	USD	1 Quarter
Additions to property, plant and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$120.80M	USD	1 Quarter
Additions to property, plant and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$162.80M	USD	1 Quarter
Other, net	`PaymentsForProceedsFromOtherInvestingActivities`	$7.90M	USD	1 Quarter
Other, net	`PaymentsForProceedsFromOtherInvestingActivities`	$25.30M	USD	1 Quarter
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-188.10M	USD	1 Quarter
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-128.70M	USD	1 Quarter
Credit agreement repayments	`RepaymentsOfLongTermLinesOfCredit`	$6.20M	USD	1 Quarter
Credit agreement repayments	`RepaymentsOfLongTermLinesOfCredit`	$1.50M	USD	1 Quarter
Short-term borrowings, net	`ProceedsFromRepaymentsOfShortTermDebt`	-	USD	1 Quarter
Short-term borrowings, net	`ProceedsFromRepaymentsOfShortTermDebt`	$1.40M	USD	1 Quarter
Repurchase of common stock	`PaymentsForRepurchaseOfCommonStock`	$145.40M	USD	1 Quarter
Repurchase of common stock	`PaymentsForRepurchaseOfCommonStock`	$115.60M	USD	1 Quarter
Dividends paid to Lear Corporation stockholders	`PaymentsOfDividendsCommonStock`	$50.70M	USD	1 Quarter
Dividends paid to Lear Corporation stockholders	`PaymentsOfDividendsCommonStock`	$36.70M	USD	1 Quarter
Dividends paid to noncontrolling interests	`PaymentsOfDividendsMinorityInterest`	$19.20M	USD	1 Quarter
Dividends paid to noncontrolling interests	`PaymentsOfDividendsMinorityInterest`	$26.50M	USD	1 Quarter
Other, net	`ProceedsFromPaymentsForOtherFinancingActivities`	$-41.70M	USD	1 Quarter
Other, net	`ProceedsFromPaymentsForOtherFinancingActivities`	$-55.80M	USD	1 Quarter
Net cash used in financing activities	`NetCashProvidedByUsedInFinancingActivities`	$-225.30M	USD	1 Quarter
Net cash used in financing activities	`NetCashProvidedByUsedInFinancingActivities`	$-272.60M	USD	1 Quarter
Effect of foreign currency translation	`EffectOfExchangeRateOnCashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$13.20M	USD	1 Quarter
Effect of foreign currency translation	`EffectOfExchangeRateOnCashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$18.00M	USD	1 Quarter
Net Change in Cash, Cash Equivalents and Restricted Cash	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect`	$-205.90M	USD	1 Quarter
Net Change in Cash, Cash Equivalents and Restricted Cash	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect`	$-61.90M	USD	1 Quarter
Cash, Cash Equivalents and Restricted Cash as of Beginning of Period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$1.50B	USD	Point-in-time
Cash, Cash Equivalents and Restricted Cash as of Beginning of Period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$1.21B	USD	Point-in-time
Cash, Cash Equivalents and Restricted Cash as of Beginning of Period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$1.27B	USD	Point-in-time
Cash, Cash Equivalents and Restricted Cash as of Beginning of Period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$1.29B	USD	Point-in-time
Cash, Cash Equivalents and Restricted Cash as of End of Period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$1.50B	USD	Point-in-time
Cash, Cash Equivalents and Restricted Cash as of End of Period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$1.21B	USD	Point-in-time
Cash, Cash Equivalents and Restricted Cash as of End of Period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$1.27B	USD	Point-in-time
Cash, Cash Equivalents and Restricted Cash as of End of Period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$1.29B	USD	Point-in-time
Accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$460.70M	USD	1 Quarter
Accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$526.60M	USD	1 Quarter
Inventories	`IncreaseDecreaseInInventories`	$35.40M	USD	1 Quarter
Inventories	`IncreaseDecreaseInInventories`	$35.00M	USD	1 Quarter
Accounts payable	`IncreaseDecreaseInAccountsPayable`	$227.90M	USD	1 Quarter
Accounts payable	`IncreaseDecreaseInAccountsPayable`	$374.70M	USD	1 Quarter
Accrued liabilities and other	`IncreaseDecreaseInOtherCurrentAssetsAndLiabilitiesNet`	$-42.00M	USD	1 Quarter
Accrued liabilities and other	`IncreaseDecreaseInOtherCurrentAssetsAndLiabilitiesNet`	$-15.20M	USD	1 Quarter
Net change in working capital items	`IncreaseDecreaseInOtherOperatingCapitalNet`	$145.30M	USD	1 Quarter
Net change in working capital items	`IncreaseDecreaseInOtherOperatingCapitalNet`	$252.60M	USD	1 Quarter
Cash paid for interest	`InterestPaid`	$42.60M	USD	1 Quarter
Cash paid for interest	`InterestPaid`	$45.60M	USD	1 Quarter
Cash paid for income taxes, net of refunds received	`IncomeTaxesPaidNet`	$63.60M	USD	1 Quarter
Cash paid for income taxes, net of refunds received	`IncomeTaxesPaidNet`	$65.10M	USD	1 Quarter

Data is extracted from SEC EDGAR XBRL filings. Values shown are as reported in the filing.