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Comprehensive Income and Equity (Tables) | 6 Months Ended
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Jun. 28, 2014
Equity [Abstract] |
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 and six months ended June 28, 2014, are shown below (in millions):
|  | Three Months Ended June 28, 2014 |  |  | Six Months Ended June 28, 2014 |
|  | Equity |  |  | Lear Corporation Stockholders |  |  | Non- controlling Interests |  |  | Equity |  |  | Lear Corporation Stockholders |  |  | Non- controlling Interests |
Beginning equity balance |  | $ | 3,242.5 |  |  | $ | 3,142.3 |  |  | $ | 100.2 |  |  | $ | 3,149.5 |  |  | $ | 3,045.9 |  |  | $ | 103.6 |
Stock-based compensation transactions |  |  | 16.3 |  |  |  | 16.3 |  |  |  | — |  |  |  | 16.6 |  |  |  | 16.6 |  |  |  | — |
Repurchase of common stock |  |  | (156.0 | ) |  |  | (156.0 | ) |  |  | — |  |  |  | (156.0 | ) |  |  | (156.0 | ) |  |  | — |
Dividends declared to Lear Corporation stockholders |  |  | (16.7 | ) |  |  | (16.7 | ) |  |  | — |  |  |  | (33.9 | ) |  |  | (33.9 | ) |  |  | — |
Dividends paid to noncontrolling interests |  |  | (1.0 | ) |  |  | — |  |  |  | (1.0 | ) |  |  | (6.8 | ) |  |  | — |  |  |  | (6.8 | )
Acquisitions of noncontrolling interests |  |  | (15.9 | ) |  |  | 5.4 |  |  |  | (21.3 | ) |  |  | (18.0 | ) |  |  | 5.7 |  |  |  | (23.7 | )
Sale of controlling interest |  |  | (11.5 | ) |  |  | — |  |  |  | (11.5 | ) |  |  | (11.5 | ) |  |  | — |  |  |  | (11.5 | )
Comprehensive income: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Net income |  |  | 157.8 |  |  |  | 148.5 |  |  |  | 9.3 |  |  |  | 286.4 |  |  |  | 270.5 |  |  |  | 15.9 |
Other comprehensive income (loss), net of tax: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Defined benefit plan adjustments |  |  | 0.1 |  |  |  | 0.1 |  |  |  | — |  |  |  | 0.1 |  |  |  | 0.1 |  |  |  | — |
Derivative instruments and hedging activities |  |  | 2.8 |  |  |  | 2.8 |  |  |  | — |  |  |  | 4.7 |  |  |  | 4.7 |  |  |  | — |
Foreign currency translation adjustments |  |  | 2.8 |  |  |  | 3.1 |  |  |  | (0.3 | ) |  |  | (9.9 | ) |  |  | (7.8 | ) |  |  | (2.1 | )
Other comprehensive income (loss) |  |  | 5.7 |  |  |  | 6.0 |  |  |  | (0.3 | ) |  |  | (5.1 | ) |  |  | (3.0 | ) |  |  | (2.1 | )
Comprehensive income |  |  | 163.5 |  |  |  | 154.5 |  |  |  | 9.0 |  |  |  | 281.3 |  |  |  | 267.5 |  |  |  | 13.8 |
Ending equity balance |  | $ | 3,221.2 |  |  | $ | 3,145.8 |  |  | $ | 75.4 |  |  | $ | 3,221.2 |  |  | $ | 3,145.8 |  |  | $ | 75.4 |
A summary of comprehensive income and reconciliations of equity, Lear Corporation stockholders’ equity and noncontrolling interests for the three and six months ended June 29, 2013, are shown below (in millions):
|  | Three Months Ended June 29, 2013 |  |  | Six Months Ended June 29, 2013 |
|  | Equity |  |  | Lear Corporation Stockholders |  |  | Non- controlling Interests |  |  | Equity |  |  | Lear Corporation Stockholders |  |  | Non- controlling Interests |
Beginning equity balance |  | $ | 3,485.8 |  |  | $ | 3,360.6 |  |  | $ | 125.2 |  |  | $ | 3,612.2 |  |  | $ | 3,487.1 |  |  | $ | 125.1 |
Stock-based compensation transactions |  |  | 14.4 |  |  |  | 14.4 |  |  |  | — |  |  |  | 21.8 |  |  |  | 21.8 |  |  |  | — |
Repurchase of common stock |  |  | (800.0 | ) |  |  | (800.0 | ) |  |  | — |  |  |  | (1,000.1 | ) |  |  | (1,000.1 | ) |  |  | — |
Dividends declared to Lear Corporation stockholders |  |  | (14.1 | ) |  |  | (14.1 | ) |  |  | — |  |  |  | (30.6 | ) |  |  | (30.6 | ) |  |  | — |
Dividends paid to noncontrolling interests |  |  | (9.5 | ) |  |  | — |  |  |  | (9.5 | ) |  |  | (14.8 | ) |  |  | — |  |  |  | (14.8 | )
Acquisition of noncontrolling interests |  |  | — |  |  |  | — |  |  |  | — |  |  |  | (6.6 | ) |  |  | (3.2 | ) |  |  | (3.4 | )
Comprehensive income: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Net income |  |  | 142.3 |  |  |  | 137.3 |  |  |  | 5.0 |  |  |  | 259.2 |  |  |  | 245.8 |  |  |  | 13.4 |
Other comprehensive income (loss), net of tax: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Defined benefit plan adjustments |  |  | 1.8 |  |  |  | 1.8 |  |  |  | — |  |  |  | 3.7 |  |  |  | 3.7 |  |  |  | — |
Derivative instruments and hedging activities |  |  | (16.1 | ) |  |  | (16.1 | ) |  |  | — |  |  |  | (8.8 | ) |  |  | (8.8 | ) |  |  | — |
Foreign currency translation adjustments |  |  | (14.3 | ) |  |  | (14.6 | ) |  |  | 0.3 |  |  |  | (45.7 | ) |  |  | (46.4 | ) |  |  | 0.7 |
Other comprehensive income (loss) |  |  | (28.6 | ) |  |  | (28.9 | ) |  |  | 0.3 |  |  |  | (50.8 | ) |  |  | (51.5 | ) |  |  | 0.7 |
Comprehensive income |  |  | 113.7 |  |  |  | 108.4 |  |  |  | 5.3 |  |  |  | 208.4 |  |  |  | 194.3 |  |  |  | 14.1 |
Ending equity balance |  | $ | 2,790.3 |  |  | $ | 2,669.3 |  |  | $ | 121.0 |  |  | $ | 2,790.3 |  |  | $ | 2,669.3 |  |  | $ | 121.0 |
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 for the three and six months ended June 28, 2014, is shown below (in millions):
|  | Three Months Ended June 28, 2014 |  |  | Six Months Ended June 28, 2014 |
Defined benefit plan adjustments: |  |  |  |  |  |  |  |
Balance at beginning of period |  | $ | (104.5 | ) |  | $ | (104.5 | )
Reclassification adjustments |  |  | 0.1 |  |  |  | 0.1 |
Balance at end of period |  | $ | (104.4 | ) |  | $ | (104.4 | )
Derivative instruments and hedging activities: |  |  |  |  |  |  |  |
Balance at beginning of period |  | $ | (3.4 | ) |  | $ | (5.3 | )
Reclassification adjustments |  |  | (2.5 | ) |  |  | (3.3 | )
Other comprehensive income recognized during the period |  |  | 5.3 |  |  |  | 8.0 |
Balance at end of period |  | $ | (0.6 | ) |  | $ | (0.6 | )
Foreign currency translation adjustments: |  |  |  |  |  |  |  |
Balance at beginning of period |  | $ | (67.2 | ) |  | $ | (56.3 | )
Other comprehensive income (loss) recognized during the period |  |  | 3.1 |  |  |  | (7.8 | )
Balance at end of period |  | $ | (64.1 | ) |  | $ | (64.1 | )
A summary of changes in accumulated other comprehensive income (loss), net of tax for the three and six months ended June 29, 2013, is shown below (in millions):
|  | Three Months Ended June 29, 2013 |  |  | Six Months Ended June 29, 2013 |
Defined benefit plan adjustments: |  |  |  |  |  |  |  |
Balance at beginning of period |  | $ | (248.0 | ) |  | $ | (249.9 | )
Reclassification adjustments |  |  | 1.8 |  |  |  | 3.7 |
Balance at end of period |  | $ | (246.2 | ) |  | $ | (246.2 | )
Derivative instruments and hedging activities: |  |  |  |  |  |  |  |
Balance at beginning of period |  | $ | 10.0 |  |  | $ | 2.7 |
Reclassification adjustments |  |  | (7.7 | ) |  |  | (13.5 | )
Other comprehensive income recognized during the period |  |  | (8.4 | ) |  |  | 4.7 |
Balance at end of period |  | $ | (6.1 | ) |  | $ | (6.1 | )
Foreign currency translation adjustments: |  |  |  |  |  |  |  |
Balance at beginning of period |  | $ | (85.4 | ) |  | $ | (53.6 | )
Other comprehensive loss recognized during the period |  |  | (14.6 | ) |  |  | (46.4 | )
Balance at end of period |  | $ | (100.0 | ) |  | $ | (100.0 | )

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