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Acquisitions | 12 Months Ended
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Dec. 31, 2017
Business Combinations [Abstract] |
Acquisitions | Acquisitions Grupo Antolin Seating On April 28, 2017, the Company completed the acquisition of Grupo Antolin's automotive seating business ("Antolin Seating") for $292.4 million, net of cash acquired. Antolin Seating is headquartered in France with operations in five countries in Europe and North Africa. The Antolin Seating business is comprised of just-in-time seat assembly, as well as seat structures, mechanisms and seat covers, with annual sales of approximately $485 million. In addition, the Company incurred transaction costs of $3.0 million related to advisory services, which were expensed as incurred and are recorded in selling, general and administrative expenses in the accompanying consolidated statement of income for the year ended December 31, 2017. The Antolin Seating acquisition was accounted for as a business combination, and accordingly, the assets acquired and liabilities assumed are included in the accompanying consolidated balance sheet as of December 31, 2017. The operating results and cash flows of Antolin Seating are included in the accompanying consolidated financial statements from the date of acquisition and in the Company's Seating segment. The purchase price and preliminary allocation are shown below (in millions):
Net purchase price |  | $ | 292.4 |
Property, plant and equipment |  | $ | 79.2 |
Other assets purchased and liabilities assumed, net |  | (31.5 | )
Goodwill |  | 123.3 |
Intangible assets |  | 121.4 |
Preliminary purchase price allocation |  | $ | 292.4 |
Recognized goodwill is attributable to the assembled workforce, expected synergies and other intangible assets that do not qualify for separate recognition. Intangible assets consist of provisional amounts recognized for the fair value of customer-based assets and were based on an independent appraisal. Customer-based assets include Antolin Seating's established relationships with its customers and the ability of these customers to generate future economic profits for the Company. It is currently estimated that these intangible assets have a weighted average useful life of approximately fifteen years. The purchase price allocation is preliminary and will be revised as a result of additional information regarding the assets acquired and liabilities assumed, including, but not limited to, certain tax attributes and contingent liabilities. The pro-forma effects of this acquisition do not materially impact the Company's reported results for any period presented. For further information related to acquired assets measured at fair value, see Note 13, "Financial Instruments." AccuMED On December 21, 2016, the Company completed the acquisition of 100% of the outstanding equity interests of AccuMED Holdings Corp. ("AccuMED"), a privately-held developer and manufacturer of specialty fabrics, for $148.5 million, net of cash acquired. AccuMED has annual sales of approximately $80 million. The AccuMED acquisition was accounted for as a business combination, and accordingly, the assets acquired and liabilities assumed are included in the accompanying consolidated balance sheets as of December 31, 2017 and 2016. The operating results and cash flows of AccuMED are included in the accompanying consolidated financial statements from the date of acquisition and in the Company's Seating segment. The purchase price and allocation are shown below (in millions):
Purchase price paid, net of cash acquired |  | $ | 148.5 |
Property, plant and equipment |  | $ | 10.5 |
Other assets purchased and liabilities assumed, net |  | 6.5 |
Goodwill |  | 78.5 |
Intangible assets |  | 53.0 |
Purchase price allocation |  | $ | 148.5 |
Recognized goodwill is attributable to the assembled workforce, expected synergies and other intangible assets that do not qualify for separate recognition. Intangible assets consist of amounts recognized for the fair value of customer-based assets and were based on an independent appraisal. Customer-based assets include AccuMED's established relationships with its customers and the ability of these customers to generate future economic profits for the Company. It is estimated that these intangible assets have a weighted average useful life of approximately thirteen years. The pro-forma effects of this acquisition would not materially impact the Company's reported results for any period presented. For further information on acquired assets measured at fair value, see Note 13, "Financial Instruments." Eagle Ottawa On January 5, 2015, the Company completed the acquisition of 100% of the outstanding equity interests of Everett Smith Group, Ltd., the parent company of Eagle Ottawa, LLC ("Eagle Ottawa") for a purchase price of $843.9 million, net of cash acquired. Eagle Ottawa is a leading provider of leather for the automotive industry. The Eagle Ottawa acquisition was accounted for as a business combination. Subsequent Event On January 10, 2018, the Company completed the acquisition of Israel-based EXO Technologies ("EXO"), a leading developer of differentiated GPS technology providing high-accuracy positioning solutions for autonomous and connected vehicle applications. EXO has operations in San Mateo, California and Tel Aviv, Israel. EXO Technologies has developed core technology that addresses the need for high-accuracy positioning of a vehicle. Its proprietary technology works with existing GPS receivers to provide centimeter-level accuracy anywhere on the globe without the need for terrestrial base-station networks. The integration of EXO's technology with the Company's vehicle and connectivity expertise enables an industry-leading vehicle positioning solution. The EXO acquisition will be accounted for as a business combination, and the assets acquired and liabilities assumed will be recognized and measured at fair value as of the acquisition date. The operating results and cash flows of EXO will be included in the consolidated financial statements from the acquisition date. The Company is preparing the preliminary estimates of the fair values of the assets acquired and liabilities assumed, which will be included in the Company's Quarterly Report on Form 10-Q for the period ending March 31, 2018. The EXO acquisition is not a material business combination.

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- Definition The entire disclosure for a business combination (or series of individually immaterial business combinations) completed during the period, including background, timing, and recognized assets and liabilities. The disclosure may include leverage buyout transactions (as applicable). + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 805 -URI http://asc.fasb.org/topic&trid=2303972 + Details
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