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Summary of Significant Accounting Policies (Tables)
 12 Months Ended
Dec. 31, 2017
Accounting Policies [Abstract]  
Summary of Inventories
A summary of inventories is shown below (in millions):
December 31,
2017
 
2016
Raw materials
$
869.3

 
$
746.3

Work-in-process
120.8

 
106.4

Finished goods
324.8

 
262.3

Reserves
(109.2
)
 
(94.4
)
Inventories
$
1,205.7

 
$
1,020.6
Classification of Recoverable Customer Engineering, Development and Tooling Costs Related to Long-term Supply Agreements
The classification of recoverable customer E&D and tooling costs related to long-term supply agreements is shown below (in millions):
December 31,
2017
 
2016
Current
$
248.1

 
$
185.9

Long-term
59.3

 
43.4

Recoverable customer E&D and tooling
$
307.4

 
$
229.3
Property, Plant and Equipment
Depreciable property is depreciated over the estimated useful lives of the assets, using principally the straight-line method as follows:
Buildings and improvements
10 to 40 years
Machinery and equipment
5 to 10 years

A summary of property, plant and equipment is shown below (in millions):
December 31,
2017
 
2016
Land
$
118.8

 
$
101.7

Buildings and improvements
797.7

 
648.1

Machinery and equipment
3,077.4

 
2,459.6

Construction in progress
355.6

 
296.4

Total property, plant and equipment
4,349.5

 
3,505.8

Less – accumulated depreciation
(1,890.1
)
 
(1,486.5
)
Net property, plant and equipment
$
2,459.4

 
$
2,019.3
Summary of Changes in Carrying Amount of Goodwill
A summary of the changes in the carrying amount of goodwill for each of the periods in the two years ended December 31, 2017, is shown below (in millions):
 
Seating
 
E-Systems
 
Total
Balance as of December 31, 2015
$
1,026.8

 
$
27.0

 
$
1,053.8

Acquisitions
72.0

 
2.6

 
74.6

Affiliate transaction
8.9

 
—

 
8.9

Foreign currency translation and other
(16.5
)
 
0.5

 
(16.0
)
Balance as of December 31, 2016
1,091.2

 
30.1

 
1,121.3

Acquisition
123.3

 
—

 
123.3

Affiliate transaction
—

 
94.4

 
94.4

Foreign currency translation and other
59.9

 
2.4

 
62.3

Balance as of December 31, 2017
$
1,274.4

 
$
126.9

 
$
1,401.3
Summary of Intangible Assets
A summary of intangible assets as of December 31, 2017 and 2016, is shown below (in millions):
 
Gross Carrying
Value
 
Accumulated
Amortization
 
Net Carrying
Value
 
Weighted
Average Useful
Life (years)
Technology
$
22.2

 
$
(9.3
)
 
$
12.9

 
8.6
Customer-based
544.6

 
(113.9
)
 
430.7

 
11.6
Other
1.4

 
(0.9
)
 
0.5

 
5.2
Balance as of December 31, 2017
$
568.2

 
$
(124.1
)
 
$
444.1

 
11.5
Intangible assets with a gross carrying value of $17.0 million became fully amortized in 2017 and are no longer included in the intangible asset gross carrying value or accumulated amortization as of December 31, 2017.
 
Gross Carrying
Value
 
Accumulated
Amortization
 
Net Carrying
Value
 
Weighted
Average Useful
Life (years)
Technology
$
24.6

 
$
(16.4
)
 
$
8.2

 
8.6
Customer-based
338.2

 
(68.3
)
 
269.9

 
7.4
Other
10.7

 
(1.7
)
 
9.0

 
5.8
Balance as of December 31, 2016
$
373.5

 
$
(86.4
)
 
$
287.1

 
7.5
Estimated Annual Intangible Asset Amortization Expense
Excluding the impact of any future acquisitions, the Company’s estimated annual amortization expense for the five succeeding years is shown below (in millions):
Year
Expense
2018
$
51.4

2019
50.8

2020
49.1

2021
47.3

2022
46.3
Summary of Other Expense, Net
A summary of other (income) expense, net is shown below (in millions):
For the year ended December 31,
2017
 
2016
 
2015
Other expense
$
57.2

 
$
42.2

 
$
71.4

Other income
(61.3
)
 
(35.8
)
 
(2.8
)
Other (income) expense, net
$
(4.1
)
 
$
6.4

 
$
68.6
Summary of Information Used to Compute Basic and Diluted Net Income Per Share
A summary of information used to compute basic and diluted net income per share available to Lear common stockholders is shown below (in millions, except share and per share data):
For the year ended December 31,
2017
 
2016
 
2015
Net income attributable to Lear
$
1,313.4

 
$
975.1

 
$
745.5

Less: Redeemable noncontrolling interest adjustment
(25.5
)
 
—

 
—

Net income available to Lear common stockholders
$
1,287.9

 
$
975.1

 
$
745.5

 
 
 
 
 
 
Average common shares outstanding
68,542,363

 
72,345,436

 
76,754,270

Dilutive effect of common stock equivalents
735,618

 
779,513

 
1,012,747

Average diluted shares outstanding
69,277,981

 
73,124,949

 
77,767,017

 
 
 
 
 
 
Basic net income per share available to Lear common stockholders
$
18.79

 
$
13.48

 
$
9.71

 
 
 
 
 
 
Diluted net income per share available to Lear common stockholders
$
18.59

 
$
13.33

 
$
9.59