XML 80 R21.htm IDEA: XBRL DOCUMENT
v3.3.0.814

Segment Reporting | 9 Months Ended
--- | ---
Sep. 26, 2015
Segment Reporting [Abstract] |
Segment Reporting | Segment Reporting The Company has two reportable operating segments: seating, which includes seats and related components, such as seat structures and mechanisms, seat covers and surface materials such as fabric and leather, seat foam and headrests, and electrical, which includes electrical distribution systems for both traditional powertrain vehicles, as well as high-power for hybrid and electric vehicles. Key components of the Company’s electrical business include wiring harnesses, terminals and connectors, junction boxes, battery chargers, electronic control modules and wireless control devices. The other category includes unallocated costs related to corporate headquarters, regional headquarters and the elimination of intercompany activities, none of which meets the requirements for being classified as an operating segment. The Company evaluates the performance of its operating segments based primarily on (i) revenues from external customers, (ii) pretax income before equity in net income of affiliates, interest expense and other expense, ("segment earnings") and (iii) cash flows, being defined as segment earnings less capital expenditures plus depreciation and amortization. A summary of revenues from external customers and other financial information by reportable operating segment is shown below (in millions):
| Three Months Ended September 26, 2015
| Seating |  | Electrical |  | Other |  | Consolidated
Revenues from external customers | $ | 3,357.1 |  |  | $ | 973.2 |  |  | $ | — |  |  | $ | 4,330.3 |
Segment earnings (1) | 234.2 |  |  | 132.6 |  |  | (64.2 | ) |  | 302.6 |
Depreciation and amortization | 60.2 |  |  | 25.4 |  |  | 2.4 |  |  | 88.0 |
Capital expenditures | 75.6 |  |  | 26.7 |  |  | 12.5 |  |  | 114.8 |
Total assets | 6,132.9 |  |  | 1,674.6 |  |  | 1,831.2 |  |  | 9,638.7 |
| Three Months Ended September 27, 2014
| Seating |  | Electrical |  | Other |  | Consolidated
Revenues from external customers | $ | 3,188.4 |  |  | $ | 1,044.3 |  |  | $ | — |  |  | $ | 4,232.7 |
Segment earnings (1) | 154.9 |  |  | 136.7 |  |  | (67.1 | ) |  | 224.5 |
Depreciation and amortization | 50.8 |  |  | 27.1 |  |  | 2.0 |  |  | 79.9 |
Capital expenditures | 63.3 |  |  | 24.8 |  |  | 3.6 |  |  | 91.7 |
Total assets | 5,223.9 |  |  | 1,702.9 |  |  | 1,764.4 |  |  | 8,691.2 |
| Nine Months Ended September 26, 2015
| Seating |  | Electrical |  | Other |  | Consolidated
Revenues from external customers | $ | 10,419.8 |  |  | $ | 3,067.0 |  |  | $ | — |  |  | $ | 13,486.8 |
Segment earnings (1) | 644.8 |  |  | 411.5 |  |  | (207.5 | ) |  | 848.8 |
Depreciation and amortization | 177.1 |  |  | 73.6 |  |  | 6.7 |  |  | 257.4 |
Capital expenditures | 232.5 |  |  | 75.5 |  |  | 19.7 |  |  | 327.7 |
Total assets | 6,132.9 |  |  | 1,674.6 |  |  | 1,831.2 |  |  | 9,638.7 |
| Nine Months Ended September 27, 2014
| Seating |  | Electrical |  | Other |  | Consolidated
Revenues from external customers | $ | 9,857.9 |  |  | $ | 3,319.7 |  |  | $ | — |  |  | $ | 13,177.6 |
Segment earnings (1) | 471.3 |  |  | 413.3 |  |  | (212.0 | ) |  | 672.6 |
Depreciation and amortization | 148.7 |  |  | 78.0 |  |  | 5.9 |  |  | 232.6 |
Capital expenditures | 192.8 |  |  | 82.2 |  |  | 5.8 |  |  | 280.8 |
Total assets | 5,223.9 |  |  | 1,702.9 |  |  | 1,764.4 |  |  | 8,691.2 |
(1) | See definition above.
For the three months ended September 26, 2015, segment earnings include restructuring charges of $4.3 million, $3.7 million and $6.9 million in the seating and electrical segments and in the other category, respectively. For the nine months ended September 26, 2015, segment earnings include restructuring charges of $47.3 million, $9.7 million and $14.7 million in the seating and electrical segments and in the other category, respectively. For the three months ended September 27, 2014, segment earnings include restructuring charges of $17.0 million, $2.5 million and $1.5 million in the seating and electrical segments and in the other category, respectively. For the nine months ended September 27, 2014, segment earnings include restructuring charges of $68.8 million, $7.3 million and $10.5 million in the seating and electrical segments and in the other category, respectively. See Note 3, "Restructuring." A reconciliation of segment earnings to consolidated income before provision for income taxes and equity in net income of affiliates is shown below (in millions):
| Three Months Ended |  | Nine Months Ended
| September 26, 2015 |  | September 27, 2014 |  | September 26, 2015 |  | September 27, 2014
Segment earnings | $ | 302.6 |  |  | $ | 224.5 |  |  | $ | 848.8 |  |  | $ | 672.6 |
Interest expense | 21.4 |  |  | 15.7 |  |  | 66.3 |  |  | 47.1 |
Other expense, net | 21.7 |  |  | 11.1 |  |  | 60.4 |  |  | 57.1 |
Consolidated income before provision for income taxes and equity in net income of affiliates | $ | 259.5 |  |  | $ | 197.7 |  |  | $ | 722.1 |  |  | $ | 568.4 |

X
- References No definition available. + Details
Name: | us-gaap_SegmentReportingAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- Definition The entire disclosure for reporting segments including data and tables. Reportable segments include those that meet any of the following quantitative thresholds a) it's reported revenue, including sales to external customers and intersegment sales or transfers is 10 percent or more of the combined revenue, internal and external, of all operating segments b) the absolute amount of its reported profit or loss is 10 percent or more of the greater, in absolute amount of 1) the combined reported profit of all operating segments that did not report a loss or 2) the combined reported loss of all operating segments that did report a loss c) its assets are 10 percent or more of the combined assets of all operating segments. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 34 -URI http://asc.fasb.org/extlink&oid=51669610&loc=d3e8981-108599 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 41 -URI http://asc.fasb.org/extlink&oid=51669610&loc=d3e9038-108599 Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 33 -URI http://asc.fasb.org/extlink&oid=51669610&loc=d3e8971-108599 Reference 4: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 12 -URI http://asc.fasb.org/extlink&oid=51669610&loc=d3e8595-108599 Reference 5: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=51669610&loc=d3e8380-108599 Reference 6: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 32 -URI http://asc.fasb.org/extlink&oid=51669610&loc=d3e8933-108599 Reference 7: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 26 -URI http://asc.fasb.org/extlink&oid=51669610&loc=d3e8844-108599 Reference 8: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 35 -URI http://asc.fasb.org/extlink&oid=51669610&loc=d3e8984-108599 Reference 9: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 40 -URI http://asc.fasb.org/extlink&oid=51669610&loc=d3e9031-108599 Reference 10: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 42 -URI http://asc.fasb.org/extlink&oid=51669610&loc=d3e9054-108599 Reference 11: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 10 -URI http://asc.fasb.org/extlink&oid=51669610&loc=d3e8538-108599 Reference 12: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 29 -URI http://asc.fasb.org/extlink&oid=51669610&loc=d3e8864-108599 Reference 13: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 31 -URI http://asc.fasb.org/extlink&oid=51669610&loc=d3e8924-108599 Reference 14: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 30 -URI http://asc.fasb.org/extlink&oid=51669610&loc=d3e8906-108599 + Details
Name: | us-gaap_SegmentReportingDisclosureTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration