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Segment Reporting | 6 Months Ended
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Jul. 01, 2017
Segment Reporting [Abstract] |
Segment Reporting | Segment Reporting The Company has two reportable operating segments: seating, which includes complete seat systems and all major seat components, including seat covers and surface materials such as leather and fabric, seat structures and mechanisms, seat foam and headrests, and E-Systems, which includes complete electrical distribution systems, electronic control modules and associated software and wireless communication modules. Key components in the electrical distribution system include wiring harnesses, terminals and connectors and junction boxes, including components for high power and hybrid electric systems. 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, net, ("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 July 1, 2017
| Seating |  | E-Systems |  | Other |  | Consolidated
Revenues from external customers | $ | 4,025.1 |  |  | $ | 1,098.1 |  |  | $ | — |  |  | $ | 5,123.2 |
Segment earnings (1) | 322.7 |  |  | 156.3 |  |  | (69.9 | ) |  | 409.1 |
Depreciation and amortization | 71.5 |  |  | 29.4 |  |  | 3.7 |  |  | 104.6 |
Capital expenditures | 94.7 |  |  | 54.0 |  |  | 4.5 |  |  | 153.2 |
Total assets | 7,397.7 |  |  | 1,880.8 |  |  | 1,958.7 |  |  | 11,237.2 |
| Three Months Ended July 2, 2016
| Seating |  | E-Systems |  | Other |  | Consolidated
Revenues from external customers | $ | 3,640.4 |  |  | $ | 1,084.4 |  |  | $ | — |  |  | $ | 4,724.8 |
Segment earnings (1) | 287.7 |  |  | 151.4 |  |  | (66.3 | ) |  | 372.8 |
Depreciation and amortization | 64.6 |  |  | 26.9 |  |  | 3.0 |  |  | 94.5 |
Capital expenditures | 61.9 |  |  | 24.4 |  |  | 7.3 |  |  | 93.6 |
Total assets | 6,224.2 |  |  | 1,691.4 |  |  | 2,224.9 |  |  | 10,140.5 |
| Six Months Ended July 1, 2017
| Seating |  | E-Systems |  | Other |  | Consolidated
Revenues from external customers | $ | 7,893.1 |  |  | $ | 2,228.6 |  |  | $ | — |  |  | $ | 10,121.7 |
Segment earnings (1) | 643.0 |  |  | 321.2 |  |  | (138.4 | ) |  | 825.8 |
Depreciation and amortization | 136.5 |  |  | 57.7 |  |  | 7.3 |  |  | 201.5 |
Capital expenditures | 177.4 |  |  | 83.5 |  |  | 13.1 |  |  | 274.0 |
Total assets | 7,397.7 |  |  | 1,880.8 |  |  | 1,958.7 |  |  | 11,237.2 |
| Six Months Ended July 2, 2016
| Seating |  | E-Systems |  | Other |  | Consolidated
Revenues from external customers | $ | 7,242.4 |  |  | $ | 2,145.3 |  |  | $ | — |  |  | $ | 9,387.7 |
Segment earnings (1) | 579.3 |  |  | 301.2 |  |  | (134.2 | ) |  | 746.3 |
Depreciation and amortization | 125.9 |  |  | 53.0 |  |  | 5.8 |  |  | 184.7 |
Capital expenditures | 124.3 |  |  | 44.6 |  |  | 12.8 |  |  | 181.7 |
Total assets | 6,224.2 |  |  | 1,691.4 |  |  | 2,224.9 |  |  | 10,140.5 |
(1) | See definition above.
For the three months ended July 1, 2017, segment earnings include restructuring charges of $9.6 million, $1.9 million and $11.6 million in the seating and E-Systems segments and in the other category, respectively. For the six months ended July 1, 2017, segment earnings include restructuring charges of $16.3 million, $3.6 million and $11.7 million in the seating and E-Systems segments and in the other category, respectively (Note 3, "Restructuring"). For the three months ended July 2, 2016, segment earnings include restructuring charges of $17.3 million, $7.7 million and $1.1 million in the seating and E-Systems segments and in the other category, respectively. For the six months ended July 2, 2016, segment earnings include restructuring charges of $23.0 million, $10.6 million and $2.7 million in the seating and E-Systems segments and in the other category, respectively (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 |  | Six Months Ended
| July 1, 2017 |  | July 2, 2016 |  | July 1, 2017 |  | July 2, 2016
Segment earnings | $ | 409.1 |  |  | $ | 372.8 |  |  | $ | 825.8 |  |  | $ | 746.3 |
Interest expense | 21.4 |  |  | 20.3 |  |  | 42.2 |  |  | 41.4 |
Other (income) expense, net | 5.8 |  |  | (23.5 | ) |  | 9.5 |  |  | (15.0 | )
Consolidated income before provision for income taxes and equity in net income of affiliates | $ | 381.9 |  |  | $ | 376.0 |  |  | $ | 774.1 |  |  | $ | 719.9 |

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- 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 -URI http://asc.fasb.org/topic&trid=2134510 + Details
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