10-Q Filing

VISTEON CORP CIK: 1111335 Q1 2014

Filing Information

Form Type	10-Q
Accession Number	`0001111335-14-000006`
Period End Date	20140331
Filing Date	20140508
Fiscal Year	2014
Fiscal Period	Q1
XBRL Instance	vc-20140331.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 84 Income Statement 34 Cash Flow Statement 52

Balance Sheet 84 line items

Line Item	Tag	Value	Unit	Period
Common Stock, Par or Stated Value Per Share	`CommonStockParOrStatedValuePerShare`	$0.01	USD	Point-in-time
Common Stock, Par or Stated Value Per Share	`CommonStockParOrStatedValuePerShare`	$0.01	USD	Point-in-time
Common Stock, Shares Authorized	`CommonStockSharesAuthorized`	250.00M	shares	Point-in-time
Cash and equivalents	`CashAndCashEquivalentsAtCarryingValue`	$1.68B	USD	Point-in-time
Cash and equivalents	`CashAndCashEquivalentsAtCarryingValue`	$980.00M	USD	Point-in-time
Cash and equivalents	`CashAndCashEquivalentsAtCarryingValue`	$1.73B	USD	Point-in-time
Common Stock, Shares Authorized	`CommonStockSharesAuthorized`	250.00M	shares	Point-in-time
Cash and equivalents	`CashAndCashEquivalentsAtCarryingValue`	$825.00M	USD	Point-in-time
Restricted cash	`RestrictedCashAndCashEquivalentsAtCarryingValue`	$25.00M	USD	Point-in-time
Restricted cash	`RestrictedCashAndCashEquivalentsAtCarryingValue`	$25.00M	USD	Point-in-time
Common Stock, Shares, Issued	`CommonStockSharesIssued`	54.00M	shares	Point-in-time
Common Stock, Shares, Issued	`CommonStockSharesIssued`	54.00M	shares	Point-in-time
Common Stock, Shares, Outstanding	`CommonStockSharesOutstanding`	48.00M	shares	Point-in-time
Accounts receivable, net	`AccountsReceivableNetCurrent`	$1.23B	USD	Point-in-time
Common Stock, Shares, Outstanding	`CommonStockSharesOutstanding`	48.00M	shares	Point-in-time
Accounts receivable, net	`AccountsReceivableNetCurrent`	$1.31B	USD	Point-in-time
Inventories, net	`InventoryNet`	$472.00M	USD	Point-in-time
Preferred Stock, Par or Stated Value Per Share	`PreferredStockParOrStatedValuePerShare`	$0.01	USD	Point-in-time
Preferred Stock, Par or Stated Value Per Share	`PreferredStockParOrStatedValuePerShare`	$0.01	USD	Point-in-time
Inventories, net	`InventoryNet`	$489.00M	USD	Point-in-time
Preferred Stock, Shares Authorized	`PreferredStockSharesAuthorized`	50.00M	shares	Point-in-time
Other current assets	`OtherAssetsCurrent`	$352.00M	USD	Point-in-time
Other current assets	`OtherAssetsCurrent`	$360.00M	USD	Point-in-time
Preferred Stock, Shares Authorized	`PreferredStockSharesAuthorized`	50.00M	shares	Point-in-time
Total current assets	`AssetsCurrent`	$3.92B	USD	Point-in-time
Total current assets	`AssetsCurrent`	$3.75B	USD	Point-in-time
Preferred Stock, Shares Issued	`PreferredStockSharesIssued`	0.00	shares	Point-in-time
Preferred Stock, Shares Issued	`PreferredStockSharesIssued`	0.00	shares	Point-in-time
Property and equipment, net	`PropertyPlantAndEquipmentNet`	$1.40B	USD	Point-in-time
Property and equipment, net	`PropertyPlantAndEquipmentNet`	$1.41B	USD	Point-in-time
Preferred Stock, Shares Outstanding	`PreferredStockSharesOutstanding`	0.00	shares	Point-in-time
Preferred Stock, Shares Outstanding	`PreferredStockSharesOutstanding`	0.00	shares	Point-in-time
Intangible assets, net	`IntangibleAssetsNetIncludingGoodwill`	$427.00M	USD	Point-in-time
Intangible assets, net	`IntangibleAssetsNetIncludingGoodwill`	$447.00M	USD	Point-in-time
Investments in non-consolidated affiliates	`InvestmentsInAffiliatesSubsidiariesAssociatesAndJointVentures`	$189.00M	USD	Point-in-time
Investments in non-consolidated affiliates	`InvestmentsInAffiliatesSubsidiariesAssociatesAndJointVentures`	$228.00M	USD	Point-in-time
Other non-current assets	`OtherAssetsNoncurrent`	$183.00M	USD	Point-in-time
Other non-current assets	`OtherAssetsNoncurrent`	$185.00M	USD	Point-in-time
Total assets	`Assets`	$6.12B	USD	Point-in-time
Total assets	`Assets`	$6.03B	USD	Point-in-time
Short-term debt, including current portion of long-term debt	`DebtCurrent`	$511.00M	USD	Point-in-time
Short-term debt, including current portion of long-term debt	`DebtCurrent`	$106.00M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$1.33B	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$1.21B	USD	Point-in-time
Accrued employee liabilities	`EmployeeRelatedLiabilitiesCurrent`	$202.00M	USD	Point-in-time
Accrued employee liabilities	`EmployeeRelatedLiabilitiesCurrent`	$175.00M	USD	Point-in-time
Other current liabilities	`OtherLiabilitiesCurrent`	$287.00M	USD	Point-in-time
Other current liabilities	`OtherLiabilitiesCurrent`	$324.00M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$2.34B	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$1.80B	USD	Point-in-time
Long-term debt	`LongTermDebtNoncurrent`	$212.00M	USD	Point-in-time
Long-term debt	`LongTermDebtNoncurrent`	$624.00M	USD	Point-in-time
Employee benefits	`EmployeeRelatedLiabilitiesNoncurrent`	$440.00M	USD	Point-in-time
Employee benefits	`EmployeeRelatedLiabilitiesNoncurrent`	$437.00M	USD	Point-in-time
Deferred tax liabilities	`DeferredTaxLiabilitiesNoncurrent`	$137.00M	USD	Point-in-time
Deferred tax liabilities	`DeferredTaxLiabilitiesNoncurrent`	$138.00M	USD	Point-in-time
Other non-current liabilities	`OtherLiabilitiesNoncurrent`	$147.00M	USD	Point-in-time
Other non-current liabilities	`OtherLiabilitiesNoncurrent`	$151.00M	USD	Point-in-time
Preferred stock (par value $0.01, 50 million shares authorized, none outstanding at March 31, 2014 and December 31, 2013)	`PreferredStockValue`	-	USD	Point-in-time
Preferred stock (par value $0.01, 50 million shares authorized, none outstanding at March 31, 2014 and December 31, 2013)	`PreferredStockValue`	-	USD	Point-in-time
Common stock (par value $0.01, 250 million shares authorized, 54 million shares issued, 48 million shares outstanding at March 31, 2014 and December 31, 2013)	`CommonStockValue`	$1.00M	USD	Point-in-time
Common stock (par value $0.01, 250 million shares authorized, 54 million shares issued, 48 million shares outstanding at March 31, 2014 and December 31, 2013)	`CommonStockValue`	$1.00M	USD	Point-in-time
Stock Warrants	`WarrantsAndRightsOutstanding`	$6.00M	USD	Point-in-time
Stock Warrants	`WarrantsAndRightsOutstanding`	$6.00M	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapital`	$1.29B	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapital`	$1.29B	USD	Point-in-time
Retained earnings	`RetainedEarningsAccumulatedDeficit`	$956.00M	USD	Point-in-time
Retained earnings	`RetainedEarningsAccumulatedDeficit`	$975.00M	USD	Point-in-time
Accumulated other comprehensive loss	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$-12.00M	USD	Point-in-time
Accumulated other comprehensive loss	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$-118.00M	USD	Point-in-time
Accumulated other comprehensive loss	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$-24.00M	USD	Point-in-time
Accumulated other comprehensive loss	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$-90.00M	USD	Point-in-time
Treasury stock	`TreasuryStockValue`	$322.00M	USD	Point-in-time
Treasury stock	`TreasuryStockValue`	$321.00M	USD	Point-in-time
Total Visteon Corporation stockholders' equity	`StockholdersEquity`	$1.93B	USD	Point-in-time
Total Visteon Corporation stockholders' equity	`StockholdersEquity`	$1.92B	USD	Point-in-time
Non-controlling interests	`MinorityInterest`	$953.00M	USD	Point-in-time
Non-controlling interests	`MinorityInterest`	$912.00M	USD	Point-in-time
Total equity	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$2.04B	USD	Point-in-time
Total equity	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$2.14B	USD	Point-in-time
Total equity	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$2.84B	USD	Point-in-time
Total equity	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$2.87B	USD	Point-in-time
Total liabilities and equity	`LiabilitiesAndStockholdersEquity`	$6.12B	USD	Point-in-time
Total liabilities and equity	`LiabilitiesAndStockholdersEquity`	$6.03B	USD	Point-in-time

Income Statement 34 line items

Line Item	Tag	Value	Unit	Period
Sales	`SalesRevenueGoodsNet`	$1.86B	USD	1 Quarter
Sales	`SalesRevenueGoodsNet`	$1.98B	USD	1 Quarter
Cost of sales	`CostOfGoodsSold`	$1.70B	USD	1 Quarter
Cost of sales	`CostOfGoodsSold`	$1.79B	USD	1 Quarter
Gross margin	`GrossProfit`	$154.00M	USD	1 Quarter
Gross margin	`GrossProfit`	$195.00M	USD	1 Quarter
Selling, general and administrative expenses	`SellingGeneralAndAdministrativeExpense`	$86.00M	USD	1 Quarter
Selling, general and administrative expenses	`SellingGeneralAndAdministrativeExpense`	$94.00M	USD	1 Quarter
Interest expense	`InterestExpense`	$10.00M	USD	1 Quarter
Interest expense	`InterestExpense`	$13.00M	USD	1 Quarter
Interest income	`InvestmentIncomeInterest`	$3.00M	USD	1 Quarter
Interest income	`InvestmentIncomeInterest`	$2.00M	USD	1 Quarter
Equity in net income of non-consolidated affiliates	`IncomeLossFromEquityMethodInvestments`	$2.00M	USD	1 Quarter
Equity in net income of non-consolidated affiliates	`IncomeLossFromEquityMethodInvestments`	$44.00M	USD	1 Quarter
Other expenses	`OtherExpenses`	$36.00M	USD	1 Quarter
Other expenses	`OtherExpenses`	$12.00M	USD	1 Quarter
Income before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$83.00M	USD	1 Quarter
Income before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$66.00M	USD	1 Quarter
Provision for (benefit from) income taxes	`IncomeTaxExpenseBenefit`	$35.00M	USD	1 Quarter
Provision for (benefit from) income taxes	`IncomeTaxExpenseBenefit`	$-18.00M	USD	1 Quarter
Net income	`ProfitLoss`	$48.00M	USD	1 Quarter
Net income	`ProfitLoss`	$84.00M	USD	1 Quarter
Net income attributable to non-controlling interests	`NetIncomeLossAttributableToNoncontrollingInterest`	$29.00M	USD	1 Quarter
Net income attributable to non-controlling interests	`NetIncomeLossAttributableToNoncontrollingInterest`	$15.00M	USD	1 Quarter
Net income attributable to Visteon Corporation	`NetIncomeLoss`	$69.00M	USD	1 Quarter
Net income attributable to Visteon Corporation	`NetIncomeLoss`	$19.00M	USD	1 Quarter
Basic earnings attributable to Visteon Corporation	`EarningsPerShareBasic`	$1.34	USD	1 Quarter
Basic earnings attributable to Visteon Corporation	`EarningsPerShareBasic`	$0.39	USD	1 Quarter
Diluted earnings attributable to Visteon Corporation	`EarningsPerShareDiluted`	$0.38	USD	1 Quarter
Diluted earnings attributable to Visteon Corporation	`EarningsPerShareDiluted`	$1.33	USD	1 Quarter
Comprehensive income	`ComprehensiveIncomeNetOfTaxIncludingPortionAttributableToNoncontrollingInterest`	$40.00M	USD	1 Quarter
Comprehensive income	`ComprehensiveIncomeNetOfTaxIncludingPortionAttributableToNoncontrollingInterest`	$27.00M	USD	1 Quarter
Comprehensive income attributable to Visteon Corporation	`ComprehensiveIncomeNetOfTax`	$7.00M	USD	1 Quarter
Comprehensive income attributable to Visteon Corporation	`ComprehensiveIncomeNetOfTax`	$41.00M	USD	1 Quarter

Cash Flow Statement 52 line items

Line Item	Tag	Value	Unit	Period
Net income	`ProfitLoss`	$48.00M	USD	1 Quarter
Net income	`ProfitLoss`	$84.00M	USD	1 Quarter
Depreciation and amortization	`DepreciationDepletionAndAmortization`	$67.00M	USD	1 Quarter
Depreciation and amortization	`DepreciationDepletionAndAmortization`	$66.00M	USD	1 Quarter
Equity in net income of non-consolidated affiliates, net of dividends remitted	`IncomeLossFromEquityMethodInvestmentsNetOfDividendsOrDistributions`	$2.00M	USD	1 Quarter
Equity in net income of non-consolidated affiliates, net of dividends remitted	`IncomeLossFromEquityMethodInvestmentsNetOfDividendsOrDistributions`	$41.00M	USD	1 Quarter
Share-based Compensation	`ShareBasedCompensation`	$3.00M	USD	1 Quarter
Share-based Compensation	`ShareBasedCompensation`	$6.00M	USD	1 Quarter
Accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$90.00M	USD	1 Quarter
Accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$42.00M	USD	1 Quarter
Inventories	`IncreaseDecreaseInInventories`	$18.00M	USD	1 Quarter
Inventories	`IncreaseDecreaseInInventories`	$51.00M	USD	1 Quarter
Accounts payable	`IncreaseDecreaseInAccountsPayable`	$190.00M	USD	1 Quarter
Accounts payable	`IncreaseDecreaseInAccountsPayable`	$131.00M	USD	1 Quarter
Accrued income taxes	`IncreaseDecreaseInAccruedIncomeTaxesPayable`	$-57.00M	USD	1 Quarter
Accrued income taxes	`IncreaseDecreaseInAccruedIncomeTaxesPayable`	$2.00M	USD	1 Quarter
Other assets and other liabilities	`IncreaseDecreaseInOtherOperatingCapitalNet`	$44.00M	USD	1 Quarter
Other assets and other liabilities	`IncreaseDecreaseInOtherOperatingCapitalNet`	$34.00M	USD	1 Quarter
Net cash provided from operating activities	`NetCashProvidedByUsedInOperatingActivitiesContinuingOperations`	$96.00M	USD	1 Quarter
Net cash provided from operating activities	`NetCashProvidedByUsedInOperatingActivitiesContinuingOperations`	$122.00M	USD	1 Quarter
Capital expenditures	`PaymentsToAcquirePropertyPlantAndEquipment`	$52.00M	USD	1 Quarter
Capital expenditures	`PaymentsToAcquirePropertyPlantAndEquipment`	$63.00M	USD	1 Quarter
Proceeds from asset sales and business divestitures	`ProceedsFromSalesOfBusinessAffiliateAndProductiveAssets`	$17.00M	USD	1 Quarter
Proceeds from asset sales and business divestitures	`ProceedsFromSalesOfBusinessAffiliateAndProductiveAssets`	$35.00M	USD	1 Quarter
Other	`PaymentsForProceedsFromOtherInvestingActivities`	-	USD	1 Quarter
Other	`PaymentsForProceedsFromOtherInvestingActivities`	$3.00M	USD	1 Quarter
Net cash used by investing activities	`NetCashProvidedByUsedInInvestingActivitiesContinuingOperations`	$-20.00M	USD	1 Quarter
Net cash used by investing activities	`NetCashProvidedByUsedInInvestingActivitiesContinuingOperations`	$-46.00M	USD	1 Quarter
Short-term debt, net	`ProceedsFromRepaymentsOfShortTermDebt`	$-4.00M	USD	1 Quarter
Short-term debt, net	`ProceedsFromRepaymentsOfShortTermDebt`	$12.00M	USD	1 Quarter
Proceeds from issuance of debt, net of issuance costs	`ProceedsFromIssuanceOfLongTermDebt`	-	USD	1 Quarter
Proceeds from issuance of debt, net of issuance costs	`ProceedsFromIssuanceOfLongTermDebt`	$204.00M	USD	1 Quarter
Repurchase of common stock	`PaymentsForRepurchaseOfCommonStock`	$125.00M	USD	1 Quarter
Repurchase of common stock	`PaymentsForRepurchaseOfCommonStock`	-	USD	1 Quarter
Dividends paid to non-controlling interests	`PaymentsOfDividendsMinorityInterest`	-	USD	1 Quarter
Dividends paid to non-controlling interests	`PaymentsOfDividendsMinorityInterest`	$16.00M	USD	1 Quarter
Other	`ProceedsFromPaymentsForOtherFinancingActivities`	-	USD	1 Quarter
Other	`ProceedsFromPaymentsForOtherFinancingActivities`	$-1.00M	USD	1 Quarter
Net cash (used by) provided from financing activities	`NetCashProvidedByUsedInFinancingActivitiesContinuingOperations`	$-20.00M	USD	1 Quarter
Net cash (used by) provided from financing activities	`NetCashProvidedByUsedInFinancingActivitiesContinuingOperations`	$90.00M	USD	1 Quarter
Effect of exchange rate changes on cash and equivalents	`EffectOfExchangeRateOnCashAndCashEquivalents`	$-11.00M	USD	1 Quarter
Effect of exchange rate changes on cash and equivalents	`EffectOfExchangeRateOnCashAndCashEquivalents`	$-5.00M	USD	1 Quarter
Net increase in cash and equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$51.00M	USD	1 Quarter
Net increase in cash and equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$155.00M	USD	1 Quarter
Cash and equivalents at beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$1.68B	USD	Point-in-time
Cash and equivalents at beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$980.00M	USD	Point-in-time
Cash and equivalents at beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$1.73B	USD	Point-in-time
Cash and equivalents at beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$825.00M	USD	Point-in-time
Cash and equivalents at end of period	`CashAndCashEquivalentsAtCarryingValue`	$980.00M	USD	Point-in-time
Cash and equivalents at end of period	`CashAndCashEquivalentsAtCarryingValue`	$1.73B	USD	Point-in-time
Cash and equivalents at end of period	`CashAndCashEquivalentsAtCarryingValue`	$1.68B	USD	Point-in-time
Cash and equivalents at end of period	`CashAndCashEquivalentsAtCarryingValue`	$825.00M	USD	Point-in-time

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