XML 44 R23.htm IDEA: XBRL DOCUMENT
v3.8.0.1

Quarterly Financial Data (unaudited) | 12 Months Ended
--- | ---
Dec. 31, 2017
Quarterly Financial Information Disclosure [Abstract] |
Quarterly Financial Data (unaudited) | Quarterly Financial Data (unaudited) (In millions, except per share data)
| Thirteen Weeks Ended
| April 1, 2017 |  | July 1, 2017 |  | September 30, 2017 |  | December 31, 2017
Net sales | $ | 4,998.5 |  |  | $ | 5,123.2 |  |  | $ | 4,981.5 |  |  | $ | 5,363.8 |
Gross profit | 582.5 |  |  | 577.8 |  |  | 555.9 |  |  | 574.9 |
Consolidated net income | 318.5 |  |  | 327.0 |  |  | 315.0 |  |  | 420.4 |
Net income attributable to Lear | 305.8 |  |  | 311.9 |  |  | 295.2 |  |  | 400.5 |
Basic net income per share attributable to Lear | 4.39 |  |  | 4.53 |  |  | 4.00 |  |  | 5.89 |
Diluted net income per share attributable to Lear | 4.35 |  |  | 4.49 |  |  | 3.96 |  |  | 5.80 |
In the third quarter of 2017, the Company recognized a gain of $54.2 million related to obtaining control of an affiliate and a loss of $21.2 million related to the extinguishment of debt. In the first, second and third quarters of 2017, the Company recognized net tax benefits of $19.1 million, $35.3 million and $14.0 million, respectively, related to a change in accounting for share-based compensation, the reversal of valuation allowances, the redemption of the 2023 notes, restructuring charges and various other items. In the fourth quarter of 2017, the Company recognized net tax benefits of $146.4 million, comprised of $289.7 million of foreign tax credits on repatriated earnings and $30.2 million of other discrete tax benefits, offset by a $131.0 million one-time transition tax on accumulated foreign earnings and $42.5 million of tax expense to reflect the new U.S. corporate tax rate and other tax reform changes to the Company's deferred tax accounts. For further information, see Note 5, "Investments in Affiliates and Other Related Party Transactions," Note 6, "Debt," and Note 7, "Income Taxes."
| Thirteen Weeks Ended
| April 2, 2016 |  | July 2, 2016 |  | October 1, 2016 |  | December 31, 2016
Net sales | $ | 4,662.9 |  |  | $ | 4,724.8 |  |  | $ | 4,526.4 |  |  | $ | 4,643.5 |
Gross profit | 535.7 |  |  | 540.4 |  |  | 513.9 |  |  | 512.1 |
Consolidated net income | 262.5 |  |  | 294.5 |  |  | 235.0 |  |  | 248.5 |
Net income attributable to Lear | 248.4 |  |  | 282.4 |  |  | 214.4 |  |  | 229.9 |
Basic net income per share attributable to Lear | 3.33 |  |  | 3.85 |  |  | 3.01 |  |  | 3.28 |
Diluted net income per share attributable to Lear | 3.29 |  |  | 3.82 |  |  | 2.98 |  |  | 3.24 |
In the second quarter of 2016, the Company recognized a gain of $30.3 million related to obtaining control of an affiliate. In the fourth quarter of 2016, the Company recognized a $34.2 million non-cash settlement charge in connection with its lump-sum payout to certain terminated vested plan participants of its U.S. defined benefit pension plans. In the first, second, third and fourth quarters of 2016, the Company recognized $5.0 million, $7.1 million, $2.4 million and $9.1 million, respectively, of net tax benefits related to restructuring charges and various other items. For further information see, Note 5, "Investments in Affiliates and Other Related Party Transactions," Note 7, "Income Taxes," and Note 8, "Pension and Other Postretirement Benefit Plans."

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

X
- Definition The entire disclosure for quarterly financial data. Includes, but is not limited to, tabular presentation of financial information for fiscal quarters, effect of year-end adjustments, and an explanation of matters or transactions that affect comparability of the information. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 270 -URI http://asc.fasb.org/topic&trid=2126967 + Details
Name: | us-gaap_QuarterlyFinancialInformationTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration