XML 60 R8.htm IDEA: XBRL DOCUMENT v2.4.0.8
Consolidated Statements of Cash Flows (USD $)
In Millions, unless otherwise specified
12 Months Ended
Dec. 31, 2013
Dec. 31, 2012
Dec. 31, 2011
Cash Flows from Operating Activities:      
Consolidated net income $ 455.8 $ 1,317.2 $ 570.4
Adjustments to reconcile consolidated net income to net cash provided by operating activities -      
Equity in net income of affiliates (38.4) (30.3) (23.5)
Loss on extinguishment of debt 3.6 3.7  
Fixed asset impairment charges 11.1 6.5 2.2
Deferred tax provision (benefit) 45.4 (693.7) (49.4)
Depreciation and amortization 285.5 239.5 246.3
Stock-based compensation 59.4 39.8 34.6
Net change in recoverable customer engineering, development and tooling 3.2 (36.7) (11.4)
Net change in working capital items (see below) (8.2) (48.8) (6.3)
Changes in other long-term liabilities (25.6) (22.8) 4.3
Changes in other long-term assets 12.9 (20.3) 21.3
Other, net 15.4 (24.3) 1.8
Net cash provided by operating activities 820.1 729.8 790.3
Cash Flows from Investing Activities:      
Additions to property, plant and equipment (460.6) (458.3) (329.5)
Insurance proceeds 7.1 19.2 3.5
Cash paid for acquisitions, net of cash acquired   (243.9) (8.4)
Other, net 49.6 (4.9) 31.2
Net cash used in investing activities (403.9) (687.9) (303.2)
Cash Flows from Financing Activities:      
Proceeds from the issuance of senior notes 500.0    
Repurchase of senior notes (72.1) (72.1)  
Payment of debt issuance and other financing costs (13.4)   (4.8)
Other long-term debt repayments, net     (1.1)
Short-term repayments, net     (4.0)
Repurchase of common stock (1,000.1) (222.8) (279.1)
Dividends paid to Lear Corporation stockholders (58.4) (54.6) (51.1)
Dividends paid to noncontrolling interests (44.0) (23.1) (18.5)
Other, net (10.5) (23.5) (13.7)
Net cash used in financing activities (698.5) (396.1) (372.3)
Effect of foreign currency translation 17.8 2.1 (14.6)
Net Change in Cash and Cash Equivalents (264.5) (352.1) 100.2
Cash and Cash Equivalents as of Beginning of Period 1,402.2 1,754.3 1,654.1
Cash and Cash Equivalents as of End of Period 1,137.7 1,402.2 1,754.3
Changes in Working Capital Items:      
Accounts receivable (239.6) (111.5) (165.8)
Inventories (102.0) (60.0) (101.0)
Accounts payable 189.5 174.6 216.7
Accrued liabilities and other 143.9 (51.9) 43.8
Net change in working capital items (8.2) (48.8) (6.3)
Supplementary Disclosure:      
Cash paid for interest 64.2 58.4 59.9
Cash paid for income taxes, net of refunds received of $12.6 in 2013, $12.7 in 2012 and $21.1 in 2011 $ 152.9 $ 85.0 $ 79.8