10-Q Filing

LEAR CORP CIK: 842162 Q1 2014

Filing Information

Form Type	10-Q
Accession Number	`0001193125-14-160067`
Period End Date	20140331
Filing Date	20140425
Fiscal Year	2014
Fiscal Period	Q1
XBRL Instance	lea-20140329.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 69 Income Statement 38 Cash Flow Statement 60

Balance Sheet 69 line items

Line Item	Tag	Value	Unit	Period
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$1.60B	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$1.14B	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$919.40M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$1.40B	USD	Point-in-time
Accounts receivable	`AccountsReceivableNetCurrent`	$2.28B	USD	Point-in-time
Accounts receivable	`AccountsReceivableNetCurrent`	$3.03B	USD	Point-in-time
Inventories	`InventoryNet`	$872.00M	USD	Point-in-time
Inventories	`InventoryNet`	$818.70M	USD	Point-in-time
Other	`OtherAssetsCurrent`	$741.80M	USD	Point-in-time
Preferred stock, shares authorized	`PreferredStockSharesAuthorized`	100.00M	shares	Point-in-time
Preferred stock, shares authorized	`PreferredStockSharesAuthorized`	100.00M	shares	Point-in-time
Other	`OtherAssetsCurrent`	$687.80M	USD	Point-in-time
Preferred stock, shares outstanding	`PreferredStockSharesOutstanding`	0.00	shares	Point-in-time
Total current assets	`AssetsCurrent`	$4.92B	USD	Point-in-time
Preferred stock, shares outstanding	`PreferredStockSharesOutstanding`	0.00	shares	Point-in-time
Total current assets	`AssetsCurrent`	$5.56B	USD	Point-in-time
Common stock, par value	`CommonStockParOrStatedValuePerShare`	$0.01	USD	Point-in-time
Common stock, par value	`CommonStockParOrStatedValuePerShare`	$0.01	USD	Point-in-time
Property, plant and equipment, net	`PropertyPlantAndEquipmentNet`	$1.64B	USD	Point-in-time
Common stock, shares authorized	`CommonStockSharesAuthorized`	300.00M	shares	Point-in-time
Common stock, shares authorized	`CommonStockSharesAuthorized`	300.00M	shares	Point-in-time
Property, plant and equipment, net	`PropertyPlantAndEquipmentNet`	$1.59B	USD	Point-in-time
Common stock, shares issued	`CommonStockSharesIssued`	88.09M	shares	Point-in-time
Goodwill	`Goodwill`	$755.60M	USD	Point-in-time
Goodwill	`Goodwill`	$757.20M	USD	Point-in-time
Common stock, shares issued	`CommonStockSharesIssued`	88.06M	shares	Point-in-time
Common stock held in treasury, shares	`TreasuryStockShares`	7.31M	shares	Point-in-time
Other	`OtherAssetsNoncurrent`	$1.05B	USD	Point-in-time
Other	`OtherAssetsNoncurrent`	$1.06B	USD	Point-in-time
Common stock held in treasury, shares	`TreasuryStockShares`	6.79M	shares	Point-in-time
Total long-term assets	`AssetsNoncurrent`	$3.44B	USD	Point-in-time
Total long-term assets	`AssetsNoncurrent`	$3.41B	USD	Point-in-time
Total assets	`Assets`	$9.00B	USD	Point-in-time
Total assets	`Assets`	$8.33B	USD	Point-in-time
Total assets	`Assets`	$8.82B	USD	Point-in-time
Accounts payable and drafts	`AccountsPayableCurrent`	$2.44B	USD	Point-in-time
Accounts payable and drafts	`AccountsPayableCurrent`	$2.88B	USD	Point-in-time
Accrued liabilities	`OtherLiabilitiesCurrent`	$1.14B	USD	Point-in-time
Accrued liabilities	`OtherLiabilitiesCurrent`	$1.29B	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$4.17B	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$3.58B	USD	Point-in-time
Long-term debt	`UnsecuredLongTermDebt`	$1.06B	USD	Point-in-time
Long-term debt	`UnsecuredLongTermDebt`	$1.07B	USD	Point-in-time
Other	`OtherLiabilitiesNoncurrent`	$517.70M	USD	Point-in-time
Other	`OtherLiabilitiesNoncurrent`	$545.20M	USD	Point-in-time
Total long-term liabilities	`LiabilitiesNoncurrent`	$1.60B	USD	Point-in-time
Total long-term liabilities	`LiabilitiesNoncurrent`	$1.59B	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; 88,085,381 and 88,062,341 shares issued as of March 29, 2014 and December 31, 2013, respectively	`CommonStockValue`	$900.00K	USD	Point-in-time
Common stock, $0.01 par value, 300,000,000 shares authorized; 88,085,381 and 88,062,341 shares issued as of March 29, 2014 and December 31, 2013, respectively	`CommonStockValue`	$900.00K	USD	Point-in-time
Additional paid-in capital, including warrants to purchase common stock	`AdditionalPaidInCapital`	$1.65B	USD	Point-in-time
Additional paid-in capital, including warrants to purchase common stock	`AdditionalPaidInCapital`	$1.63B	USD	Point-in-time
Common stock held in treasury, 6,792,028 and 7,311,037 shares as of March 29, 2014 and December 31, 2013, respectively, at cost	`TreasuryStockValue`	$343.00M	USD	Point-in-time
Common stock held in treasury, 6,792,028 and 7,311,037 shares as of March 29, 2014 and December 31, 2013, respectively, at cost	`TreasuryStockValue`	$362.10M	USD	Point-in-time
Retained earnings	`RetainedEarningsAccumulatedDeficit`	$1.92B	USD	Point-in-time
Retained earnings	`RetainedEarningsAccumulatedDeficit`	$2.03B	USD	Point-in-time
Accumulated other comprehensive loss	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$-166.10M	USD	Point-in-time
Accumulated other comprehensive loss	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$-175.10M	USD	Point-in-time
Lear Corporation stockholders' equity	`StockholdersEquity`	$3.05B	USD	Point-in-time
Lear Corporation stockholders' equity	`StockholdersEquity`	$3.14B	USD	Point-in-time
Noncontrolling interests	`MinorityInterest`	$100.20M	USD	Point-in-time
Noncontrolling interests	`MinorityInterest`	$103.60M	USD	Point-in-time
Equity	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$3.15B	USD	Point-in-time
Equity	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$3.61B	USD	Point-in-time
Equity	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$3.49B	USD	Point-in-time
Equity	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$3.24B	USD	Point-in-time
Total liabilities and equity	`LiabilitiesAndStockholdersEquity`	$9.00B	USD	Point-in-time
Total liabilities and equity	`LiabilitiesAndStockholdersEquity`	$8.33B	USD	Point-in-time

Income Statement 38 line items

Line Item	Tag	Value	Unit	Period
Net sales	`SalesRevenueGoodsNet`	$4.36B	USD	1 Quarter
Net sales	`SalesRevenueGoodsNet`	$3.95B	USD	1 Quarter
Cost of sales	`CostOfGoodsSold`	$3.63B	USD	1 Quarter
Cost of sales	`CostOfGoodsSold`	$4.00B	USD	1 Quarter
Selling, general and administrative expenses	`SellingGeneralAndAdministrativeExpense`	$136.70M	USD	1 Quarter
Selling, general and administrative expenses	`SellingGeneralAndAdministrativeExpense`	$129.60M	USD	1 Quarter
Amortization of intangible assets	`AmortizationOfIntangibleAssets`	$8.60M	USD	1 Quarter
Amortization of intangible assets	`AmortizationOfIntangibleAssets`	$8.50M	USD	1 Quarter
Interest expense	`InterestExpense`	$16.80M	USD	1 Quarter
Interest expense	`InterestExpense`	$16.70M	USD	1 Quarter
Other expense, net	`OtherIncomeExpenseNet`	$-10.70M	USD	1 Quarter
Other expense, net	`OtherIncomeExpenseNet`	$-29.20M	USD	1 Quarter
Consolidated income before provision for income taxes and equity in net income of affiliates	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments`	$146.80M	USD	1 Quarter
Consolidated income before provision for income taxes and equity in net income of affiliates	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments`	$169.30M	USD	1 Quarter
Provision for income taxes	`IncomeTaxExpenseBenefit`	$52.70M	USD	1 Quarter
Provision for income taxes	`IncomeTaxExpenseBenefit`	$37.90M	USD	1 Quarter
Equity in net income of affiliates	`IncomeLossFromEquityMethodInvestments`	$12.00M	USD	1 Quarter
Equity in net income of affiliates	`IncomeLossFromEquityMethodInvestments`	$8.00M	USD	1 Quarter
Consolidated net income	`ProfitLoss`	$128.60M	USD	1 Quarter
Consolidated net income	`ProfitLoss`	$116.90M	USD	1 Quarter
Less: Net income attributable to noncontrolling interests	`NetIncomeLossAttributableToNoncontrollingInterest`	$6.60M	USD	1 Quarter
Less: Net income attributable to noncontrolling interests	`NetIncomeLossAttributableToNoncontrollingInterest`	$8.40M	USD	1 Quarter
Net income attributable to Lear	`NetIncomeLoss`	$108.50M	USD	1 Quarter
Net income attributable to Lear	`NetIncomeLoss`	$122.00M	USD	1 Quarter
Basic net income per share attributable to Lear	`EarningsPerShareBasic`	$1.50	USD	1 Quarter
Basic net income per share attributable to Lear	`EarningsPerShareBasic`	$1.14	USD	1 Quarter
Diluted net income per share attributable to Lear	`EarningsPerShareDiluted`	$1.13	USD	1 Quarter
Diluted net income per share attributable to Lear	`EarningsPerShareDiluted`	$1.47	USD	1 Quarter
Average common shares outstanding	`WeightedAverageNumberOfSharesOutstandingBasic`	94.82M	shares	1 Quarter
Average common shares outstanding	`WeightedAverageNumberOfSharesOutstandingBasic`	81.08M	shares	1 Quarter
Average diluted shares outstanding	`WeightedAverageNumberOfDilutedSharesOutstanding`	95.87M	shares	1 Quarter
Average diluted shares outstanding	`WeightedAverageNumberOfDilutedSharesOutstanding`	82.76M	shares	1 Quarter
Consolidated comprehensive income (Note 12)	`ComprehensiveIncomeNetOfTaxIncludingPortionAttributableToNoncontrollingInterest`	$117.80M	USD	1 Quarter
Consolidated comprehensive income (Note 12)	`ComprehensiveIncomeNetOfTaxIncludingPortionAttributableToNoncontrollingInterest`	$94.70M	USD	1 Quarter
Less: Comprehensive income attributable to noncontrolling interests	`ComprehensiveIncomeNetOfTaxAttributableToNoncontrollingInterest`	$8.80M	USD	1 Quarter
Less: Comprehensive income attributable to noncontrolling interests	`ComprehensiveIncomeNetOfTaxAttributableToNoncontrollingInterest`	$4.80M	USD	1 Quarter
Comprehensive income attributable to Lear	`ComprehensiveIncomeNetOfTax`	$113.00M	USD	1 Quarter
Comprehensive income attributable to Lear	`ComprehensiveIncomeNetOfTax`	$85.90M	USD	1 Quarter

Cash Flow Statement 60 line items

Line Item	Tag	Value	Unit	Period
Consolidated net income	`ProfitLoss`	$128.60M	USD	1 Quarter
Consolidated net income	`ProfitLoss`	$116.90M	USD	1 Quarter
Depreciation and amortization	`DepreciationDepletionAndAmortization`	$66.40M	USD	1 Quarter
Depreciation and amortization	`DepreciationDepletionAndAmortization`	$74.50M	USD	1 Quarter
Net change in recoverable customer engineering, development and tooling	`IncreaseDecreaseInRecoverableCustomerEngineeringDevelopmentAndTooling`	$8.30M	USD	1 Quarter
Net change in recoverable customer engineering, development and tooling	`IncreaseDecreaseInRecoverableCustomerEngineeringDevelopmentAndTooling`	$20.00M	USD	1 Quarter
Net change in working capital items (see below)	`IncreaseDecreaseInOtherOperatingCapitalNet`	$159.60M	USD	1 Quarter
Net change in working capital items (see below)	`IncreaseDecreaseInOtherOperatingCapitalNet`	$286.80M	USD	1 Quarter
Other, net	`OtherOperatingActivitiesCashFlowStatement`	$20.10M	USD	1 Quarter
Other, net	`OtherOperatingActivitiesCashFlowStatement`	$21.20M	USD	1 Quarter
Net cash provided by (used in) operating activities	`NetCashProvidedByUsedInOperatingActivitiesContinuingOperations`	$-54.20M	USD	1 Quarter
Net cash provided by (used in) operating activities	`NetCashProvidedByUsedInOperatingActivitiesContinuingOperations`	$63.80M	USD	1 Quarter
Additions to property, plant and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$98.70M	USD	1 Quarter
Additions to property, plant and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$96.40M	USD	1 Quarter
Insurance proceeds	`ProceedsFromInsuranceSettlementInvestingActivities`	$7.10M	USD	1 Quarter
Other, net	`PaymentsForProceedsFromOtherInvestingActivities`	$-51.30M	USD	1 Quarter
Other, net	`PaymentsForProceedsFromOtherInvestingActivities`	$14.00M	USD	1 Quarter
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivitiesContinuingOperations`	$-40.30M	USD	1 Quarter
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivitiesContinuingOperations`	$-110.40M	USD	1 Quarter
Proceeds from the issuance of senior notes	`ProceedsFromIssuanceOfUnsecuredDebt`	$500.00M	USD	1 Quarter
Proceeds from the issuance of senior notes	`ProceedsFromIssuanceOfUnsecuredDebt`	$325.00M	USD	1 Quarter
Repurchase of senior notes	`RepaymentsOfUnsecuredDebt`	$327.10M	USD	1 Quarter
Repurchase of senior notes	`RepaymentsOfUnsecuredDebt`	$72.10M	USD	1 Quarter
Payment of debt issuance and other financing costs	`PaymentsOfDebtIssuanceCosts`	$3.80M	USD	1 Quarter
Payment of debt issuance and other financing costs	`PaymentsOfDebtIssuanceCosts`	$13.40M	USD	1 Quarter
Repurchase of common stock	`PaymentsForRepurchaseOfCommonStock`	$200.10M	USD	1 Quarter
Dividends paid to Lear Corporation stockholders	`PaymentsOfDividendsCommonStock`	$17.50M	USD	1 Quarter
Dividends paid to Lear Corporation stockholders	`PaymentsOfDividendsCommonStock`	$16.20M	USD	1 Quarter
Dividends paid to noncontrolling interests	`PaymentsOfDividendsMinorityInterest`	$5.80M	USD	1 Quarter
Dividends paid to noncontrolling interests	`PaymentsOfDividendsMinorityInterest`	$3.90M	USD	1 Quarter
Other, net	`ProceedsFromPaymentsForOtherFinancingActivities`	$-5.10M	USD	1 Quarter
Other, net	`ProceedsFromPaymentsForOtherFinancingActivities`	$-21.10M	USD	1 Quarter
Net cash provided by (used in) financing activities	`NetCashProvidedByUsedInFinancingActivitiesContinuingOperations`	$189.20M	USD	1 Quarter
Net cash provided by (used in) financing activities	`NetCashProvidedByUsedInFinancingActivitiesContinuingOperations`	$-50.30M	USD	1 Quarter
Effect of foreign currency translation	`EffectOfExchangeRateOnCashAndCashEquivalents`	$-3.40M	USD	1 Quarter
Effect of foreign currency translation	`EffectOfExchangeRateOnCashAndCashEquivalents`	$-13.60M	USD	1 Quarter
Net Change in Cash and Cash Equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$-218.30M	USD	1 Quarter
Net Change in Cash and Cash Equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$199.10M	USD	1 Quarter
Cash and Cash Equivalents as of Beginning of Period	`CashAndCashEquivalentsAtCarryingValue`	$1.60B	USD	Point-in-time
Cash and Cash Equivalents as of Beginning of Period	`CashAndCashEquivalentsAtCarryingValue`	$1.14B	USD	Point-in-time
Cash and Cash Equivalents as of Beginning of Period	`CashAndCashEquivalentsAtCarryingValue`	$919.40M	USD	Point-in-time
Cash and Cash Equivalents as of Beginning of Period	`CashAndCashEquivalentsAtCarryingValue`	$1.40B	USD	Point-in-time
Cash and Cash Equivalents as of End of Period	`CashAndCashEquivalentsAtCarryingValue`	$1.60B	USD	Point-in-time
Cash and Cash Equivalents as of End of Period	`CashAndCashEquivalentsAtCarryingValue`	$1.14B	USD	Point-in-time
Cash and Cash Equivalents as of End of Period	`CashAndCashEquivalentsAtCarryingValue`	$919.40M	USD	Point-in-time
Cash and Cash Equivalents as of End of Period	`CashAndCashEquivalentsAtCarryingValue`	$1.40B	USD	Point-in-time
Accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$432.40M	USD	1 Quarter
Accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$754.50M	USD	1 Quarter
Inventories	`IncreaseDecreaseInInventories`	$76.30M	USD	1 Quarter
Inventories	`IncreaseDecreaseInInventories`	$52.60M	USD	1 Quarter
Accounts payable	`IncreaseDecreaseInAccountsPayable`	$449.20M	USD	1 Quarter
Accounts payable	`IncreaseDecreaseInAccountsPayable`	$288.20M	USD	1 Quarter
Accrued liabilities and other	`IncreaseDecreaseInOtherCurrentAssetsAndLiabilitiesNet`	$-71.10M	USD	1 Quarter
Accrued liabilities and other	`IncreaseDecreaseInOtherCurrentAssetsAndLiabilitiesNet`	$-60.90M	USD	1 Quarter
Net change in working capital items	`IncreaseDecreaseInOtherOperatingCapitalNet`	$159.60M	USD	1 Quarter
Net change in working capital items	`IncreaseDecreaseInOtherOperatingCapitalNet`	$286.80M	USD	1 Quarter
Cash paid for interest	`InterestPaid`	$35.60M	USD	1 Quarter
Cash paid for interest	`InterestPaid`	$26.50M	USD	1 Quarter
Cash paid for income taxes, net of refunds received	`IncomeTaxesPaidNet`	$40.20M	USD	1 Quarter
Cash paid for income taxes, net of refunds received	`IncomeTaxesPaidNet`	$28.40M	USD	1 Quarter

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