Comprehensive Income and Equity (Tables)

3 Months Ended

Mar. 29, 2014

Summary of Comprehensive Income and Reconciliations of Equity

A summary of comprehensive income and reconciliations of equity, Lear Corporation stockholders’ equity and noncontrolling interests for the three months ended March 29, 2014 and March 30, 2013, are shown below (in millions):


	Three Months Ended March 29, 2014									Three Months Ended March 30, 2013
	Equity			Lear Corporation Stockholders’ Equity			Non- controlling Interests			Equity			Lear Corporation Stockholders’ Equity			Non- controlling Interests

Beginning equity balance	$	3,149.5		$	3,045.9		$	103.6		$	3,612.2		$	3,487.1		$	125.1
Stock-based compensation transactions		0.3			0.3			—			7.4			7.4			—
Repurchase of common stock		—			—			—			(200.1	)		(200.1	)		—
Dividends declared to Lear Corporation stockholders		(17.2	)		(17.2	)		—			(16.5	)		(16.5	)		—
Dividends paid to noncontrolling interests		(5.8	)		—			(5.8	)		(3.9	)		—			(3.9	)
Acquisition of noncontrolling interests		(2.1	)		0.3			(2.4	)		(8.0	)		(3.2	)		(4.8	)
Comprehensive income:
Net income		128.6			122.0			6.6			116.9			108.5			8.4
Other comprehensive income (loss), net of tax:
Defined benefit plan adjustments		—			—			—			1.9			1.9			—
Derivative instruments and hedging activities		1.9			1.9			—			7.3			7.3			—
Foreign currency translation adjustments		(12.7	)		(10.9	)		(1.8	)		(31.4	)		(31.8	)		0.4

Other comprehensive income (loss)		(10.8	)		(9.0	)		(1.8	)		(22.2	)		(22.6	)		0.4

Comprehensive income		117.8			113.0			4.8			94.7			85.9			8.8

Ending equity balance	$	3,242.5		$	3,142.3		$	100.2		$	3,485.8		$	3,360.6		$	125.2

Summary of Changes in Accumulated Other Comprehensive Income (Loss), Net of Tax

A summary of changes in accumulated other comprehensive income (loss), net of tax is shown below (in millions):


	Three Months Ended
	March 29, 2014			March 30, 2013
Defined benefit plan adjustments:
Balance at beginning of period	$	(104.5	)	$	(249.9	)
Reclassification adjustments		—			1.9

Balance at end of period	$	(104.5	)	$	(248.0	)


Derivative instruments and hedging activities:
Balance at beginning of period	$	(5.3	)	$	2.7
Reclassification adjustments		(0.7	)		(5.9	)
Other comprehensive income recognized during the period		2.6			13.2

Balance at end of period	$	(3.4	)	$	10.0


Foreign currency translation adjustments:
Balance at beginning of period	$	(56.3	)	$	(53.6	)
Other comprehensive loss recognized during the period		(10.9	)		(31.8	)

Balance at end of period	$	(67.2	)	$	(85.4	)