Comprehensive Income and Equity (Tables)

6 Months Ended

Jun. 27, 2015

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' Equity			Non- controlling Interests			Equity			Lear Corporation Stockholders' Equity			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		)
Acquisition 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 27, 2015, are shown below (in millions):



	Three Months Ended June 27, 2015									Six Months Ended June 27, 2015
	Equity			Lear Corporation Stockholders' Equity			Non- controlling Interests			Equity			Lear Corporation Stockholders' Equity			Non- controlling Interests
Beginning equity balance	$	2,891.8		$	2,812.1		$	79.7		$	3,029.3		$	2,958.8		$	70.5
Stock-based compensation transactions	18.3			18.3			—			(15.2		)	(15.2		)	—
Repurchase of common stock	(122.4		)	(122.4		)	—			(234.8		)	(234.8		)	—
Dividends declared to Lear Corporation stockholders	(20.1		)	(20.1		)	—			(40.4		)	(40.4		)	—
Dividends paid to noncontrolling interests	(11.8		)	—			(11.8		)	(11.9		)	—			(11.9		)
Comprehensive income:
Net income	192.9			181.9			11.0			349.6			329.2			20.4
Other comprehensive income (loss), net of tax:
Defined benefit plan adjustments	2.3			2.3			—			10.0			10.0			—
Derivative instruments and hedging activities	(3.9		)	(3.9		)	—			1.8			1.8			—
Foreign currency translation adjustments	31.2			31.2			—			(110.1		)	(110.0		)	(0.1		)
Other comprehensive income (loss)	29.6			29.6			—			(98.3		)	(98.2		)	(0.1		)
Comprehensive income	222.5			211.5			11.0			251.3			231.0			20.3
Ending equity balance	$	2,978.3		$	2,899.4		$	78.9		$	2,978.3		$	2,899.4		$	78.9

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

A summary of changes, net of tax, in accumulated other comprehensive loss 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 (net of tax impact of $— million for the three and six months ended June 28, 2014)	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 (net of tax benefit of $0.9 million and $1.2 million for the three and six months ended June 28, 2014, respectively)	(2.5		)	(3.3		)
Other comprehensive income recognized during the period (net of tax expense of $1.9 million and $2.9 million for the three and six months ended June 28, 2014, respectively)	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 loss recognized during the period (net of tax benefit of $0.3 million for the three and six months ended June 28, 2014)	3.1			(7.8		)
Balance at end of period	$	(64.1	)	$	(64.1	)

A summary of changes, net of tax, in accumulated other comprehensive loss for the three and six months ended June 27, 2015, is shown below (in millions):



	Three Months Ended June 27, 2015			Six Months Ended June 27, 2015
Defined benefit plan adjustments:
Balance at beginning of period	$	(211.5	)	$	(219.2	)
Reclassification adjustments (net of tax expense of $0.5 million and $0.9 million for the three and six months ended June 27, 2015, respectively)	1.1			2.3
Other comprehensive income recognized during the period (net of tax expense of $1.1 million for the three and six months ended June 27, 2015)	1.2			7.7
Balance at end of period	$	(209.2	)	$	(209.2	)

Derivative instruments and hedging activities:
Balance at beginning of period	$	(27.5	)	$	(33.2	)
Reclassification adjustments (net of tax expense of $1.9 million and $3.2 million for the three and six months ended June 27, 2015, respectively)	5.3			8.7
Other comprehensive income recognized during the period (net of tax benefit of $3.6 million and $2.5 million for the three and six months ended June 27, 2015, respectively)	(9.2		)	(6.9		)
Balance at end of period	$	(31.4	)	$	(31.4	)

Foreign currency translation adjustments:
Balance at beginning of period	$	(390.8	)	$	(249.6	)
Other comprehensive loss recognized during the period (net of tax expense (benefit) of $0.1 million and ($4.0) million for the three and six months ended June 27, 2015, respectively)	31.2			(110.0		)
Balance at end of period	$	(359.6	)	$	(359.6	)