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Summary of Significant Accounting Policies (Tables)
 12 Months Ended
Dec. 31, 2014
Accounting Policies [Abstract]  
Summary of Inventories
A summary of inventories is shown below (in millions):
December 31,
2014
 
2013
Raw materials
$
668.3

 
$
633.5

Work-in-process
45.6

 
45.8

Finished goods
139.8

 
139.4

Inventories
$
853.7

 
$
818.7
Classification of Recoverable Customer Engineering, Development and Tooling Costs Related to Long-term Supply Agreements
The classification of recoverable customer E&D and tooling costs related to long-term supply agreements is shown below (in millions):
December 31,
2014
 
2013
Current
$
121.1

 
$
134.2

Long-term
47.6

 
52.9

Recoverable customer E&D and tooling
$
168.7

 
$
187.1
Estimated Useful Lives of Depreciable Property
Depreciable property is depreciated over the estimated useful lives of the assets, using principally the straight-line method as follows:
Buildings and improvements
10 to 40 years
Machinery and equipment
5 to 10 years

A summary of property, plant and equipment is shown below (in millions):
December 31,
2014
 
2013
Land
$
105.2

 
$
113.4

Buildings and improvements
523.5

 
532.0

Machinery and equipment
1,847.0

 
1,645.0

Construction in progress
186.9

 
155.2

Total property, plant and equipment
2,662.6

 
2,445.6

Less – accumulated depreciation
(1,037.9
)
 
(858.4
)
Net property, plant and equipment
$
1,624.7

 
$
1,587.2
Summary of Changes in Carrying Amount of Goodwill
A summary of the changes in the carrying amount of goodwill, all of which relates to the seating segment, for each of the periods in the two years ended December 31, 2014, is shown below (in millions):
Balance as of December 31, 2012
$
746.5

Foreign currency translation and other
10.7

Balance as of December 31, 2013
757.2

Foreign currency translation and other
(31.0
)
Balance as of December 31, 2014
$
726.2
Summary of Intangible Assets
A summary of intangible assets as of December 31, 2014 and 2013, is shown below (in millions):
 
Gross Carrying
Value
 
Accumulated
Amortization
 
Net Carrying
Value
 
Weighted
Average Useful
Life (years)
Technology
$
31.4

 
$
(16.3
)
 
$
15.1

 
9.0
Customer-based
214.9

 
(137.5
)
 
77.4

 
8.2
Balance as of December 31, 2014
$
246.3

 
$
(153.8
)
 
$
92.5

 
8.4
 
Gross Carrying
Value
 
Accumulated
Amortization
 
Net Carrying
Value
 
Weighted
Average Useful
Life (years)
Technology
$
32.7

 
$
(13.0
)
 
$
19.7

 
8.9
Customer-based
223.1

 
(113.1
)
 
110.0

 
8.0
Balance as of December 31, 2013
$
255.8

 
$
(126.1
)
 
$
129.7

 
8.1
Estimated Annual Amortization Expense
Excluding the impact of the Eagle Ottawa acquisition and any future acquisitions, the Company’s estimated annual amortization expense for the five succeeding years is shown below (in millions):
Year
Expense
2015
$
32.8

2016
28.7

2017
7.7

2018
5.9

2019
5.8
Summary of Other (Income) Expense, Net
A summary of other expense, net is shown below (in millions):
For the year ended December 31,
2014
 
2013
 
2012
Other expense
$
82.4

 
$
59.9

 
$
33.9

Other income
(8.1
)
 
(1.8
)
 
(27.5
)
Other expense, net
$
74.3

 
$
58.1

 
$
6.4
Summary of Information Used to Compute Basic and Diluted Net Income (Loss) Per Share
A summary of information used to compute basic net income per share attributable to Lear is shown below (in millions, except share and per share data):
For the year ended December 31,
2014
 
2013
 
2012
Net income attributable to Lear
$
672.4

 
$
431.4

 
$
1,282.8

 
 
 
 
 
 
Average common shares outstanding
80,187,516

 
85,094,889

 
98,388,228

 
 
 
 
 
 
Basic net income per share attributable to Lear
$
8.39

 
$
5.07

 
$
13.04

A summary of information used to compute diluted net income per share attributable to Lear is shown below (in millions, except share and per share data):
For the year ended December 31,
2014
 
2013
 
2012
Net income attributable to Lear
$
672.4

 
$
431.4

 
$
1,282.8

 
 
 
 
 
 
Average common shares outstanding
80,187,516

 
85,094,889

 
98,388,228

Dilutive effect of common stock equivalents
1,540,963

 
1,320,897

 
1,437,458

Average diluted shares outstanding
81,728,479

 
86,415,786

 
99,825,686

 
 
 
 
 
 
Diluted net income per share attributable to Lear
$
8.23

 
$
4.99

 
$
12.85
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):
For the year ended December 31,
2014
 
2013
 
2012
Defined benefit plans:
 
 
 
 
 
Balance at beginning of year
$
(104.5
)
 
$
(249.9
)
 
$
(239.1
)
Reclassification adjustments
0.2

 
11.0

 
4.2

Other comprehensive income (loss) recognized during the period
(114.9
)
 
134.4

 
(15.0
)
Balance at end of year
$
(219.2
)
 
$
(104.5
)
 
$
(249.9
)
Derivative instruments and hedging activities:
 
 
 
 
 
Balance at beginning of year
$
(5.3
)
 
$
2.7

 
$
(37.6
)
Reclassification adjustments
(6.4
)
 
(21.0
)
 
2.0

Other comprehensive income (loss) recognized during the period
(21.5
)
 
13.0

 
38.3

Balance at end of year
$
(33.2
)
 
$
(5.3
)
 
$
2.7

Cumulative translation adjustments:
 
 
 
 
 
Balance at beginning of year
$
(56.3
)
 
$
(53.6
)
 
$
(55.3
)
Other comprehensive income (loss) recognized during the period
(193.3
)
 
(2.7
)
 
1.7

Balance at end of year
$
(249.6
)
 
$
(56.3
)
 
$
(53.6
)