10-Q Filing

VISTEON CORP CIK: 1111335 Q1 2015

Filing Information

Form Type	10-Q
Accession Number	`0001111335-15-000006`
Period End Date	20150331
Filing Date	20150507
Fiscal Year	2015
Fiscal Period	Q1
XBRL Instance	vc-20150331.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 81 Income Statement 48 Cash Flow Statement 53

Balance Sheet 81 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
Cash and equivalents	`CashAndCashEquivalentsAtCarryingValue`	$822.00M	USD	Point-in-time
Common Stock, Shares Authorized	`CommonStockSharesAuthorized`	250.00M	shares	Point-in-time
Cash and equivalents	`CashAndCashEquivalentsAtCarryingValue`	$907.00M	USD	Point-in-time
Common Stock, Shares Authorized	`CommonStockSharesAuthorized`	250.00M	shares	Point-in-time
Restricted cash	`RestrictedCashAndCashEquivalentsAtCarryingValue`	$9.00M	USD	Point-in-time
Restricted cash	`RestrictedCashAndCashEquivalentsAtCarryingValue`	$9.00M	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
Accounts receivable, net	`AccountsReceivableNetCurrent`	$1.37B	USD	Point-in-time
Common Stock, Shares, Outstanding	`CommonStockSharesOutstanding`	44.00M	shares	Point-in-time
Accounts receivable, net	`AccountsReceivableNetCurrent`	$1.35B	USD	Point-in-time
Common Stock, Shares, Outstanding	`CommonStockSharesOutstanding`	44.00M	shares	Point-in-time
Inventories, net	`InventoryNet`	$537.00M	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`	$541.00M	USD	Point-in-time
Preferred Stock, Shares Authorized	`PreferredStockSharesAuthorized`	50.00M	shares	Point-in-time
Preferred Stock, Shares Authorized	`PreferredStockSharesAuthorized`	50.00M	shares	Point-in-time
Other current assets	`OtherAssetsCurrent`	$428.00M	USD	Point-in-time
Other current assets	`OtherAssetsCurrent`	$415.00M	USD	Point-in-time
Preferred Stock, Shares Issued	`PreferredStockSharesIssued`	0.00	shares	Point-in-time
Total current assets	`AssetsCurrent`	$3.25B	USD	Point-in-time
Total current assets	`AssetsCurrent`	$3.13B	USD	Point-in-time
Preferred Stock, Shares Issued	`PreferredStockSharesIssued`	0.00	shares	Point-in-time
Property and equipment, net	`PropertyPlantAndEquipmentNet`	$1.44B	USD	Point-in-time
Property and equipment, net	`PropertyPlantAndEquipmentNet`	$1.36B	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`	$393.00M	USD	Point-in-time
Intangible assets, net	`IntangibleAssetsNetIncludingGoodwill`	$407.00M	USD	Point-in-time
Investments in non-consolidated affiliates	`InvestmentsInAffiliatesSubsidiariesAssociatesAndJointVentures`	$165.00M	USD	Point-in-time
Investments in non-consolidated affiliates	`InvestmentsInAffiliatesSubsidiariesAssociatesAndJointVentures`	$166.00M	USD	Point-in-time
Other non-current assets	`OtherAssetsNoncurrent`	$177.00M	USD	Point-in-time
Other non-current assets	`OtherAssetsNoncurrent`	$163.00M	USD	Point-in-time
Total assets	`Assets`	$5.32B	USD	Point-in-time
Total assets	`Assets`	$5.34B	USD	Point-in-time
Short-term debt, including current portion of long-term debt	`DebtCurrent`	$124.00M	USD	Point-in-time
Short-term debt, including current portion of long-term debt	`DebtCurrent`	$142.00M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$1.26B	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$1.19B	USD	Point-in-time
Accrued employee liabilities	`EmployeeRelatedLiabilitiesCurrent`	$174.00M	USD	Point-in-time
Accrued employee liabilities	`EmployeeRelatedLiabilitiesCurrent`	$152.00M	USD	Point-in-time
Other current liabilities	`OtherLiabilitiesCurrent`	$396.00M	USD	Point-in-time
Other current liabilities	`OtherLiabilitiesCurrent`	$330.00M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$1.83B	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$1.93B	USD	Point-in-time
Long-term debt	`LongTermDebtNoncurrent`	$839.00M	USD	Point-in-time
Long-term debt	`LongTermDebtNoncurrent`	$833.00M	USD	Point-in-time
Employee benefits	`EmployeeRelatedLiabilitiesNoncurrent`	$566.00M	USD	Point-in-time
Employee benefits	`EmployeeRelatedLiabilitiesNoncurrent`	$528.00M	USD	Point-in-time
Deferred tax liabilities	`DeferredTaxLiabilitiesNoncurrent`	$120.00M	USD	Point-in-time
Deferred tax liabilities	`DeferredTaxLiabilitiesNoncurrent`	$121.00M	USD	Point-in-time
Other non-current liabilities	`OtherLiabilitiesNoncurrent`	$145.00M	USD	Point-in-time
Other non-current liabilities	`OtherLiabilitiesNoncurrent`	$105.00M	USD	Point-in-time
Preferred stock (par value $0.01, 50 million shares authorized, none outstanding at March 31, 2015 and December 31, 2014)	`PreferredStockValue`	-	USD	Point-in-time
Preferred stock (par value $0.01, 50 million shares authorized, none outstanding at March 31, 2015 and December 31, 2014)	`PreferredStockValue`	-	USD	Point-in-time
Common stock (par value $0.01, 250 million shares authorized, 54 million shares issued, and 44 million shares outstanding at March 31, 2015 and December 31, 2014)	`CommonStockValue`	$1.00M	USD	Point-in-time
Common stock (par value $0.01, 250 million shares authorized, 54 million shares issued, and 44 million shares outstanding at March 31, 2015 and December 31, 2014)	`CommonStockValue`	$1.00M	USD	Point-in-time
Stock Warrants	`WarrantsAndRightsOutstanding`	$2.00M	USD	Point-in-time
Stock Warrants	`WarrantsAndRightsOutstanding`	$3.00M	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapital`	$1.25B	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapital`	$1.25B	USD	Point-in-time
Retained earnings	`RetainedEarningsAccumulatedDeficit`	$711.00M	USD	Point-in-time
Retained earnings	`RetainedEarningsAccumulatedDeficit`	$661.00M	USD	Point-in-time
Accumulated other comprehensive loss	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$-341.00M	USD	Point-in-time
Accumulated other comprehensive loss	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$-299.00M	USD	Point-in-time
Accumulated other comprehensive loss	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$-24.00M	USD	Point-in-time
Accumulated other comprehensive loss	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$-12.00M	USD	Point-in-time
Treasury stock	`TreasuryStockValue`	$747.00M	USD	Point-in-time
Treasury stock	`TreasuryStockValue`	$744.00M	USD	Point-in-time
Total Visteon Corporation stockholders' equity	`StockholdersEquity`	$883.00M	USD	Point-in-time
Total Visteon Corporation stockholders' equity	`StockholdersEquity`	$865.00M	USD	Point-in-time
Non-controlling interests	`MinorityInterest`	$956.00M	USD	Point-in-time
Non-controlling interests	`MinorityInterest`	$940.00M	USD	Point-in-time
Total equity	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$2.84B	USD	Point-in-time
Total equity	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$1.82B	USD	Point-in-time
Total equity	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$1.82B	USD	Point-in-time
Total liabilities and equity	`LiabilitiesAndStockholdersEquity`	$5.32B	USD	Point-in-time
Total liabilities and equity	`LiabilitiesAndStockholdersEquity`	$5.34B	USD	Point-in-time

Income Statement 48 line items

Line Item	Tag	Value	Unit	Period
Sales	`SalesRevenueGoodsNet`	$2.03B	USD	1 Quarter
Sales	`SalesRevenueGoodsNet`	$1.72B	USD	1 Quarter
Cost of sales	`CostOfGoodsSold`	$1.82B	USD	1 Quarter
Cost of sales	`CostOfGoodsSold`	$1.54B	USD	1 Quarter
Gross margin	`GrossProfit`	$212.00M	USD	1 Quarter
Gross margin	`GrossProfit`	$179.00M	USD	1 Quarter
Selling, general and administrative expenses	`SellingGeneralAndAdministrativeExpense`	$96.00M	USD	1 Quarter
Selling, general and administrative expenses	`SellingGeneralAndAdministrativeExpense`	$81.00M	USD	1 Quarter
Transformation and integration costs	`Transformationandintegrationcosts`	$14.00M	USD	1 Quarter
Transformation and integration costs	`Transformationandintegrationcosts`	$6.00M	USD	1 Quarter
Interest expense	`InterestExpense`	$10.00M	USD	1 Quarter
Interest expense	`InterestExpense`	$8.00M	USD	1 Quarter
Restructuring expense	`RestructuringCharges`	$4.00M	USD	1 Quarter
Restructuring expense	`RestructuringCharges`	$1.00M	USD	1 Quarter
Interest income	`InvestmentIncomeInterest`	$2.00M	USD	1 Quarter
Interest income	`InvestmentIncomeInterest`	$2.00M	USD	1 Quarter
Equity in net income of non-consolidated affiliates	`Equityinnetincomeofnonconsolidatedaffiliates`	$2.00M	USD	1 Quarter
Equity in net income of non-consolidated affiliates	`Equityinnetincomeofnonconsolidatedaffiliates`	$2.00M	USD	1 Quarter
Income before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$85.00M	USD	1 Quarter
Income before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$94.00M	USD	1 Quarter
Provision for income taxes	`IncomeTaxExpenseBenefit`	$31.00M	USD	1 Quarter
Provision for income taxes	`IncomeTaxExpenseBenefit`	$1.00M	USD	1 Quarter
Net income from continuing operations	`IncomeLossFromContinuingOperationsIncludingPortionAttributableToNoncontrollingInterest`	$54.00M	USD	1 Quarter
Net income from continuing operations	`IncomeLossFromContinuingOperationsIncludingPortionAttributableToNoncontrollingInterest`	$93.00M	USD	1 Quarter
Loss from discontinued operations, net of tax	`IncomeLossFromDiscontinuedOperationsNetOfTax`	$-23.00M	USD	1 Quarter
Loss from discontinued operations, net of tax	`IncomeLossFromDiscontinuedOperationsNetOfTax`	$-6.00M	USD	1 Quarter
Net income	`ProfitLoss`	$48.00M	USD	1 Quarter
Net income	`ProfitLoss`	$70.00M	USD	1 Quarter
Net income attributable to non-controlling interests	`NetIncomeLossAttributableToNoncontrollingInterest`	$20.00M	USD	1 Quarter
Net income attributable to non-controlling interests	`NetIncomeLossAttributableToNoncontrollingInterest`	$29.00M	USD	1 Quarter
Net income attributable to Visteon Corporation	`NetIncomeLoss`	$19.00M	USD	1 Quarter
Net income attributable to Visteon Corporation	`NetIncomeLoss`	$50.00M	USD	1 Quarter
Continuing operations	`IncomeLossFromContinuingOperationsPerBasicShare`	$1.64	USD	1 Quarter
Continuing operations	`IncomeLossFromContinuingOperationsPerBasicShare`	$0.53	USD	1 Quarter
Discontinued operations	`IncomeLossFromDiscontinuedOperationsNetOfTaxPerBasicShare`	$-0.51	USD	1 Quarter
Discontinued operations	`IncomeLossFromDiscontinuedOperationsNetOfTaxPerBasicShare`	$-0.14	USD	1 Quarter
Basic earnings attributable to Visteon Corporation	`EarningsPerShareBasic`	$1.13	USD	1 Quarter
Basic earnings attributable to Visteon Corporation	`EarningsPerShareBasic`	$0.39	USD	1 Quarter
Continuing operations	`IncomeLossFromContinuingOperationsPerDilutedShare`	$1.60	USD	1 Quarter
Continuing operations	`IncomeLossFromContinuingOperationsPerDilutedShare`	$0.52	USD	1 Quarter
Discontinued operations	`IncomeLossFromDiscontinuedOperationsNetOfTaxPerDilutedShare`	$-0.14	USD	1 Quarter
Discontinued operations	`IncomeLossFromDiscontinuedOperationsNetOfTaxPerDilutedShare`	$-0.50	USD	1 Quarter
Diluted earnings attributable to Visteon Corporation	`EarningsPerShareDiluted`	$0.38	USD	1 Quarter
Diluted earnings attributable to Visteon Corporation	`EarningsPerShareDiluted`	$1.10	USD	1 Quarter
Comprehensive income	`ComprehensiveIncomeNetOfTaxIncludingPortionAttributableToNoncontrollingInterest`	$27.00M	USD	1 Quarter
Comprehensive income	`ComprehensiveIncomeNetOfTaxIncludingPortionAttributableToNoncontrollingInterest`	$20.00M	USD	1 Quarter
Comprehensive income attributable to Visteon Corporation	`ComprehensiveIncomeNetOfTax`	$8.00M	USD	1 Quarter
Comprehensive income attributable to Visteon Corporation	`ComprehensiveIncomeNetOfTax`	$7.00M	USD	1 Quarter

Cash Flow Statement 53 line items

Line Item	Tag	Value	Unit	Period
Net income	`ProfitLoss`	$48.00M	USD	1 Quarter
Net income	`ProfitLoss`	$70.00M	USD	1 Quarter
Depreciation and amortization	`DepreciationDepletionAndAmortization`	$68.00M	USD	1 Quarter
Depreciation and amortization	`DepreciationDepletionAndAmortization`	$66.00M	USD	1 Quarter
Asset impairments and losses on divestitures	`Assetimpairmentsandlossesondivestitures`	-	USD	1 Quarter
Asset impairments and losses on divestitures	`Assetimpairmentsandlossesondivestitures`	$-14.00M	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`	$2.00M	USD	1 Quarter
Non-cash stock-based compensation	`ShareBasedCompensation`	$3.00M	USD	1 Quarter
Non-cash stock-based compensation	`ShareBasedCompensation`	$3.00M	USD	1 Quarter
Accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$90.00M	USD	1 Quarter
Accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$62.00M	USD	1 Quarter
Inventories	`IncreaseDecreaseInInventories`	$18.00M	USD	1 Quarter
Inventories	`IncreaseDecreaseInInventories`	$29.00M	USD	1 Quarter
Accounts payable	`IncreaseDecreaseInAccountsPayable`	$131.00M	USD	1 Quarter
Accounts payable	`IncreaseDecreaseInAccountsPayable`	$110.00M	USD	1 Quarter
Other assets and other liabilities	`IncreaseDecreaseInOtherOperatingCapitalNet`	$-1.00M	USD	1 Quarter
Other assets and other liabilities	`IncreaseDecreaseInOtherOperatingCapitalNet`	$42.00M	USD	1 Quarter
Net cash provided from operating activities	`NetCashProvidedByUsedInOperatingActivities`	$173.00M	USD	1 Quarter
Net cash provided from operating activities	`NetCashProvidedByUsedInOperatingActivities`	$96.00M	USD	1 Quarter
Capital expenditures	`PaymentsToAcquirePropertyPlantAndEquipment`	$55.00M	USD	1 Quarter
Capital expenditures	`PaymentsToAcquirePropertyPlantAndEquipment`	$52.00M	USD	1 Quarter
Loan to non-consolidated affiliate	`Loantononconsolidatedaffiliate`	$10.00M	USD	1 Quarter
Loan to non-consolidated affiliate	`Loantononconsolidatedaffiliate`	-	USD	1 Quarter
Proceeds from asset sales and business divestitures	`ProceedsFromSalesOfBusinessAffiliateAndProductiveAssets`	$3.00M	USD	1 Quarter
Proceeds from asset sales and business divestitures	`ProceedsFromSalesOfBusinessAffiliateAndProductiveAssets`	$35.00M	USD	1 Quarter
Other	`PaymentsForProceedsFromOtherInvestingActivities`	$8.00M	USD	1 Quarter
Other	`PaymentsForProceedsFromOtherInvestingActivities`	$3.00M	USD	1 Quarter
Net cash used by investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-70.00M	USD	1 Quarter
Net cash used by investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-20.00M	USD	1 Quarter
Short-term debt, net	`ProceedsFromRepaymentsOfShortTermDebt`	$-4.00M	USD	1 Quarter
Short-term debt, net	`ProceedsFromRepaymentsOfShortTermDebt`	$-10.00M	USD	1 Quarter
Principal payments on debt	`RepaymentsOfLongTermDebt`	$3.00M	USD	1 Quarter
Principal payments on debt	`RepaymentsOfLongTermDebt`	$1.00M	USD	1 Quarter
Dividends paid to non-controlling interests	`PaymentsOfDividendsMinorityInterest`	$3.00M	USD	1 Quarter
Dividends paid to non-controlling interests	`PaymentsOfDividendsMinorityInterest`	$16.00M	USD	1 Quarter
Stock warrant and option exercises	`Stockwarrantandoptionexercises`	$1.00M	USD	1 Quarter
Stock warrant and option exercises	`Stockwarrantandoptionexercises`	$10.00M	USD	1 Quarter
Net cash used by financing activities	`NetCashProvidedByUsedInFinancingActivities`	$-6.00M	USD	1 Quarter
Net cash used by financing activities	`NetCashProvidedByUsedInFinancingActivities`	$-20.00M	USD	1 Quarter
Effect of exchange rate changes on cash	`EffectOfExchangeRateOnCashAndCashEquivalents`	$-5.00M	USD	1 Quarter
Effect of exchange rate changes on cash	`EffectOfExchangeRateOnCashAndCashEquivalents`	$-17.00M	USD	1 Quarter
Net increase in cash and equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$80.00M	USD	1 Quarter
Net increase in cash and equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$51.00M	USD	1 Quarter
Cash and equivalents at beginning of the period	`CashAndCashEquivalentsAtCarryingValueIncludingDiscontinuedOperations`	$907.00M	USD	Point-in-time
Cash and equivalents at beginning of the period	`CashAndCashEquivalentsAtCarryingValueIncludingDiscontinuedOperations`	$827.00M	USD	Point-in-time
Cash and equivalents at beginning of the period	`CashAndCashEquivalentsAtCarryingValueIncludingDiscontinuedOperations`	$1.73B	USD	Point-in-time
Cash and equivalents at beginning of the period	`CashAndCashEquivalentsAtCarryingValueIncludingDiscontinuedOperations`	$1.68B	USD	Point-in-time
Cash and equivalents at end of the period	`CashAndCashEquivalentsAtCarryingValueIncludingDiscontinuedOperations`	$907.00M	USD	Point-in-time
Cash and equivalents at end of the period	`CashAndCashEquivalentsAtCarryingValueIncludingDiscontinuedOperations`	$827.00M	USD	Point-in-time
Cash and equivalents at end of the period	`CashAndCashEquivalentsAtCarryingValueIncludingDiscontinuedOperations`	$1.73B	USD	Point-in-time
Cash and equivalents at end of the period	`CashAndCashEquivalentsAtCarryingValueIncludingDiscontinuedOperations`	$1.68B	USD	Point-in-time
Disposal Group, Including Discontinued Operation, Cash and Cash Equivalents	`DisposalGroupIncludingDiscontinuedOperationCashAndCashEquivalents`	$5.00M	USD	Point-in-time

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