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Comprehensive Income and Equity (Tables) | 6 Months Ended
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Jul. 01, 2017
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 July 1, 2017, is shown below (in millions):
| Three Months Ended July 1, 2017 |  | Six Months Ended July 1, 2017
| Equity |  | Lear Corporation Stockholders' Equity |  | Non- controlling Interests |  | Equity |  | Lear Corporation Stockholders' Equity |  | Non- controlling Interests
Beginning equity balance | $ | 3,463.5 |  |  | $ | 3,331.0 |  |  | $ | 132.5 |  |  | $ | 3,192.9 |  |  | $ | 3,057.2 |  |  | $ | 135.7 |
Stock-based compensation transactions | 19.3 |  |  | 19.3 |  |  | — |  |  | (6.5 | ) |  | (6.5 | ) |  | — |
Repurchase of common stock | (126.8 | ) |  | (126.8 | ) |  | — |  |  | (254.3 | ) |  | (254.3 | ) |  | — |
Dividends declared to Lear Corporation stockholders | (35.3 | ) |  | (35.3 | ) |  | — |  |  | (71.0 | ) |  | (71.0 | ) |  | — |
Dividends declared to noncontrolling interest holders | (15.5 | ) |  | — |  |  | (15.5 | ) |  | (32.5 | ) |  | — |  |  | (32.5 | )
Adoption of ASU 2016-09 (Note 11, "Taxes") | — |  |  | — |  |  | — |  |  | 54.5 |  |  | 54.5 |  |  | — |
Comprehensive income: |  |  |  |  |  |  |  |  |  |  |  |  |
Net income | 327.0 |  |  | 311.9 |  |  | 15.1 |  |  | 645.5 |  |  | 617.7 |  |  | 27.8 |
Other comprehensive income, net of tax: |  |  |  |  |  |  |  |  |  |  |  |  |
Defined benefit plan adjustments | (1.9 | ) |  | (1.9 | ) |  | — |  |  | (1.2 | ) |  | (1.2 | ) |  | — |
Derivative instruments and hedging activities | 15.9 |  |  | 15.9 |  |  | — |  |  | 68.0 |  |  | 68.0 |  |  | — |
Foreign currency translation adjustments | 110.0 |  |  | 107.8 |  |  | 2.2 |  |  | 160.8 |  |  | 157.5 |  |  | 3.3 |
Other comprehensive income | 124.0 |  |  | 121.8 |  |  | 2.2 |  |  | 227.6 |  |  | 224.3 |  |  | 3.3 |
Comprehensive income | 451.0 |  |  | 433.7 |  |  | 17.3 |  |  | 873.1 |  |  | 842.0 |  |  | 31.1 |
Ending equity balance | $ | 3,756.2 |  |  | $ | 3,621.9 |  |  | $ | 134.3 |  |  | $ | 3,756.2 |  |  | $ | 3,621.9 |  |  | $ | 134.3 |
A summary of comprehensive income and reconciliations of equity, Lear Corporation stockholders’ equity and noncontrolling interests for the three and six months ended July 2, 2016, is shown below (in millions):
| Three Months Ended July 2, 2016 |  | Six Months Ended July 2, 2016
| Equity |  | Lear Corporation Stockholders' Equity |  | Non- controlling Interests |  | Equity |  | Lear Corporation Stockholders' Equity |  | Non- controlling Interests
Beginning equity balance | $ | 3,144.4 |  |  | $ | 3,037.6 |  |  | $ | 106.8 |  |  | $ | 3,017.7 |  |  | $ | 2,927.4 |  |  | $ | 90.3 |
Stock-based compensation transactions | 18.7 |  |  | 18.7 |  |  | — |  |  | (8.9 | ) |  | (8.9 | ) |  | — |
Repurchase of common stock | (250.2 | ) |  | (250.2 | ) |  | — |  |  | (405.0 | ) |  | (405.0 | ) |  | — |
Dividends declared to Lear Corporation stockholders | (22.5 | ) |  | (22.5 | ) |  | — |  |  | (45.6 | ) |  | (45.6 | ) |  | — |
Dividends declared to noncontrolling interest holders | (12.8 | ) |  | — |  |  | (12.8 | ) |  | (12.8 | ) |  | — |  |  | (12.8 | )
Consolidation of affiliate | 40.0 |  |  | — |  |  | 40.0 |  |  | 40.0 |  |  | — |  |  | 40.0 |
Non-controlling interests — other | — |  |  | — |  |  | — |  |  | — |  |  | (2.2 | ) |  | 2.2 |
Comprehensive income: |  |  |  |  |  |  |  |  |  |  |
Net income | 294.5 |  |  | 282.4 |  |  | 12.1 |  |  | 557.0 |  |  | 530.8 |  |  | 26.2 |
Other comprehensive income (loss), net of tax: |  |  |  |  |  |  |  |  |  |  |
Defined benefit plan adjustments | 1.1 |  |  | 1.1 |  |  | — |  |  | (1.7 | ) |  | (1.7 | ) |  | — |
Derivative instruments and hedging activities | (13.4 | ) |  | (13.4 | ) |  | — |  |  | (11.4 | ) |  | (11.4 | ) |  | — |
Foreign currency translation adjustments | (43.7 | ) |  | (40.9 | ) |  | (2.8 | ) |  | 26.8 |  |  | 29.4 |  |  | (2.6 | )
Other comprehensive income (loss) | (56.0 | ) |  | (53.2 | ) |  | (2.8 | ) |  | 13.7 |  |  | 16.3 |  |  | (2.6 | )
Comprehensive income | 238.5 |  |  | 229.2 |  |  | 9.3 |  |  | 570.7 |  |  | 547.1 |  |  | 23.6 |
Ending equity balance | $ | 3,156.1 |  |  | $ | 3,012.8 |  |  | $ | 143.3 |  |  | $ | 3,156.1 |  |  | $ | 3,012.8 |  |  | $ | 143.3 |
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 July 1, 2017, is shown below (in millions):
| Three Months Ended July 1, 2017 |  | Six Months Ended July 1, 2017
Defined benefit plans: |  |  |
Balance at beginning of period | $ | (192.1 | ) |  | $ | (192.8 | )
Reclassification adjustments (net of tax expense of $0.4 million and $0.9 million in the three and six months ended July 1, 2017, respectively) | 0.8 |  |  | 2.5 |
Other comprehensive loss recognized during the period (net of tax impact of $— million in the three and six months ended July 1, 2017) | (2.7 | ) |  | (3.7 | )
Balance at end of period | $ | (194.0 | ) |  | $ | (194.0 | )
Derivative instruments and hedging: |  |  |
Balance at beginning of period | $ | 7.0 |  |  | $ | (45.1 | )
Reclassification adjustments (net of tax (benefit) expense of ($0.1) million and $2.9 million in the three and six months ended July 1, 2017, respectively) | — |  |  | 8.8 |
Other comprehensive income recognized during the period (net of tax expense of $5.1 million and $19.8 million in the three and six months ended July 1, 2017, respectively) | 15.9 |  |  | 59.2 |
Balance at end of period | $ | 22.9 |  |  | $ | 22.9 |
Foreign currency translation: |  |  |
Balance at beginning of period | $ | (548.0 | ) |  | $ | (597.7 | )
Other comprehensive income recognized during the period (net of tax impact of $— million in the three and six months ended July 1, 2017) | 107.8 |  |  | 157.5 |
Balance at end of period | $ | (440.2 | ) |  | $ | (440.2 | )
A summary of changes, net of tax, in accumulated other comprehensive loss for the three and six months ended July 2, 2016, is shown below (in millions):
| Three Months Ended July 2, 2016 |  | Six Months Ended July 2, 2016
Defined benefit plans: |  |  |
Balance at beginning of period | $ | (197.4 | ) |  | $ | (194.6 | )
Reclassification adjustments (net of tax expense of $0.5 million and $0.7 million in the three and six months ended July 2, 2016, respectively) | 0.6 |  |  | 1.7 |
Other comprehensive income (loss) recognized during the period (net of tax impact of $— million in the three and six months ended July 2, 2016) | 0.5 |  |  | (3.4 | )
Balance at end of period | $ | (196.3 | ) |  | $ | (196.3 | )
Derivative instruments and hedging: |  |  |
Balance at beginning of period | $ | (36.7 | ) |  | $ | (38.7 | )
Reclassification adjustments (net of tax expense of $5.8 million and $10.7 million in the three and six months ended July 2, 2016, respectively) | 15.5 |  |  | 29.1 |
Other comprehensive loss recognized during the period (net of tax benefit of $10.3 million and $14.5 million in the three and six months ended July 2, 2016, respectively) | (28.9 | ) |  | (40.5 | )
Balance at end of period | $ | (50.1 | ) |  | $ | (50.1 | )
Foreign currency translation: |  |  |
Balance at beginning of period | $ | (426.5 | ) |  | $ | (496.8 | )
Other comprehensive income (loss) recognized during the period (net of tax impact of $— million in the three and six months ended July 2, 2016) | (40.9 | ) |  | 29.4 |
Balance at end of period | $ | (467.4 | ) |  | $ | (467.4 | )

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