XML 44 R28.htm IDEA: XBRL DOCUMENT
v3.10.0.1

Summary of Significant Accounting Policies (Tables) | 12 Months Ended
--- | ---
Dec. 31, 2018
Accounting Policies [Abstract] |
Summary of Inventories | A summary of inventories is shown below (in millions):
December 31, | 2018 |  | 2017
Raw materials | $ | 859.4 |  |  | $ | 869.3 |
Work-in-process | 104.6 |  |  | 120.8 |
Finished goods | 346.0 |  |  | 324.8 |
Reserves | (113.2 | ) |  | (109.2 | )
Inventories | $ | 1,196.8 |  |  | $ | 1,205.7 |
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, | 2018 |  | 2017
Current | $ | 160.9 |  |  | $ | 248.1 |
Long-term | 80.4 |  |  | 59.3 |
Recoverable customer E&D and tooling | $ | 241.3 |  |  | $ | 307.4 |
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, | 2018 |  | 2017
Land | $ | 116.8 |  |  | $ | 118.8 |
Buildings and improvements | 809.3 |  |  | 797.7 |
Machinery and equipment | 3,463.3 |  |  | 3,077.4 |
Construction in progress | 389.3 |  |  | 355.6 |
Total property, plant and equipment | 4,778.7 |  |  | 4,349.5 |
Less – accumulated depreciation | (2,180.6 | ) |  | (1,890.1 | )
Net property, plant and equipment | $ | 2,598.1 |  |  | $ | 2,459.4 |
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, 2018, is shown below (in millions):
| Seating |  | E-Systems |  | Total
Balance as of December 31, 2016 | $ | 1,091.2 |  |  | $ | 30.1 |  |  | $ | 1,121.3 |
Acquisitions | 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 |
Affiliate transaction | — |  |  | 22.4 |  |  | 22.4 |
Foreign currency translation and other | (30.1 | ) |  | 11.7 |  |  | (18.4 | )
Balance as of December 31, 2018 | $ | 1,244.3 |  |  | $ | 161.0 |  |  | $ | 1,405.3 |
Summary of Finite-Lived Intangible Assets | A summary of intangible assets as of December 31, 2018 and 2017, is shown below (in millions):
| Gross Carrying Value |  | Accumulated Amortization |  | Net Carrying Value |  | Weighted Average Useful Life (years)
Amortized intangible assets: |  |  |  |  |  |  |
Technology | $ | 20.1 |  |  | $ | (11.8 | ) |  | $ | 8.3 |  |  | 8.5
Customer-based | 533.4 |  |  | (156.3 | ) |  | 377.1 |  |  | 11.6
Other | 1.4 |  |  | (1.1 | ) |  | 0.3 |  |  | 2.5
| $ | 554.9 |  |  | $ | (169.2 | ) |  | $ | 385.7 |  |  | 11.5
Unamortized intangible assets: |  |  |  |  |  |  |
In-process research and development | 10.8 |  |  | $ | — |  |  | $ | 10.8 |  |  |
Balance as of December 31, 2018 | $ | 565.7 |  |  | $ | (169.2 | ) |  | $ | 396.5 |  |  |
| 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
Summary of Indefinite-Lived Intangible Assets | A summary of intangible assets as of December 31, 2018 and 2017, is shown below (in millions):
| Gross Carrying Value |  | Accumulated Amortization |  | Net Carrying Value |  | Weighted Average Useful Life (years)
Amortized intangible assets: |  |  |  |  |  |  |
Technology | $ | 20.1 |  |  | $ | (11.8 | ) |  | $ | 8.3 |  |  | 8.5
Customer-based | 533.4 |  |  | (156.3 | ) |  | 377.1 |  |  | 11.6
Other | 1.4 |  |  | (1.1 | ) |  | 0.3 |  |  | 2.5
| $ | 554.9 |  |  | $ | (169.2 | ) |  | $ | 385.7 |  |  | 11.5
Unamortized intangible assets: |  |  |  |  |  |  |
In-process research and development | 10.8 |  |  | $ | — |  |  | $ | 10.8 |  |  |
Balance as of December 31, 2018 | $ | 565.7 |  |  | $ | (169.2 | ) |  | $ | 396.5 |  |  |
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
2019 | $ | 49.6 |
2020 | 47.9 |
2021 | 46.5 |
2022 | 45.8 |
2023 | 44.3 |
Summary of Other (Income) Expense, Net | A summary of other (income) expense, net is shown below (in millions):
For the year ended December 31, | 2018 |  | 2017 |  | 2016
Other expense | $ | 43.8 |  |  | $ | 57.2 |  |  | $ | 76.4 |
Other income | (12.2 | ) |  | (61.3 | ) |  | (35.8 | )
Other (income) expense, net | $ | 31.6 |  |  | $ | (4.1 | ) |  | $ | 40.6 |
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, | 2018 |  | 2017 |  | 2016
Net income attributable to Lear | $ | 1,149.8 |  |  | $ | 1,313.4 |  |  | $ | 975.1 |
Less: Redeemable noncontrolling interest adjustment | (10.4 | ) |  | (25.5 | ) |  | — |
Net income available to Lear common stockholders | $ | 1,139.4 |  |  | $ | 1,287.9 |  |  | $ | 975.1 |
Average common shares outstanding | 65,672,164 |  |  | 68,542,363 |  |  | 72,345,436 |
Dilutive effect of common stock equivalents | 489,652 |  |  | 735,618 |  |  | 779,513 |
Average diluted shares outstanding | 66,161,816 |  |  | 69,277,981 |  |  | 73,124,949 |
Basic net income per share available to Lear common stockholders | $ | 17.35 |  |  | $ | 18.79 |  |  | $ | 13.48 |
Diluted net income per share available to Lear common stockholders | $ | 17.22 |  |  | $ | 18.59 |  |  | $ | 13.33 |

X
- Definition Tabular disclosure of amounts recorded as other income or other expense items (both operating and nonoperating). + References No definition available. + Details
Name: | lear_ScheduleOfOtherIncomeExpenseNetTableTextBlock
Namespace Prefix: | lear_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Balance sheet classification of recoverable customer engineering, development and tooling balances. + References No definition available. + Details
Name: | lear_ScheduleOfPreproductionCostsRelatedToLongTermSupplyArrangementsTableTextBlock
Namespace Prefix: | lear_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration

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

X
- Definition Tabular disclosure of physical assets used in the normal conduct of business and not intended for resale. Includes, but is not limited to, balances by class of assets, depreciation and depletion expense and method used, including composite depreciation, and accumulated deprecation. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 210 -SubTopic 10 -Section S99 -Paragraph 1 -Subparagraph (SX 210.5-02(13)) -URI http://asc.fasb.org/extlink&oid=6877327&loc=d3e13212-122682 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 360 -SubTopic 10 -Section 50 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=6391035&loc=d3e2868-110229 + Details
Name: | us-gaap_PropertyPlantAndEquipmentTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of an entity's basic and diluted earnings per share calculations, including a reconciliation of numerators and denominators of the basic and diluted per-share computations for income from continuing operations. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 260 -SubTopic 10 -Section 50 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=6371337&loc=d3e3550-109257 + Details
Name: | us-gaap_ScheduleOfEarningsPerShareBasicAndDilutedTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of assets, excluding financial assets and goodwill, lacking physical substance with a finite life, by either major class or business segment. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 350 -SubTopic 30 -Section 50 -Paragraph 2 -Subparagraph (a) -URI http://asc.fasb.org/extlink&oid=66006027&loc=d3e16323-109275 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 350 -SubTopic 30 -Section 50 -Paragraph 1 -Subparagraph (a) -URI http://asc.fasb.org/extlink&oid=66006027&loc=d3e16265-109275 + Details
Name: | us-gaap_ScheduleOfFiniteLivedIntangibleAssetsTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of goodwill by reportable segment and in total which includes a rollforward schedule. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 350 -SubTopic 20 -Section 50 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=108376223&loc=d3e13816-109267 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 350 -SubTopic 20 -Section 50 -Paragraph 2 -URI http://asc.fasb.org/extlink&oid=108376223&loc=d3e13854-109267 + Details
Name: | us-gaap_ScheduleOfGoodwillTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of assets, excluding financial assets and goodwill, lacking physical substance and exist in perpetuity, by either major class or business segment. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 350 -SubTopic 30 -Section 50 -Paragraph 3 -Subparagraph (b),(d) -URI http://asc.fasb.org/extlink&oid=66006027&loc=d3e16373-109275 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 350 -SubTopic 30 -Section 50 -Paragraph 2 -Subparagraph (b) -URI http://asc.fasb.org/extlink&oid=66006027&loc=d3e16323-109275 + Details
Name: | us-gaap_ScheduleOfIndefiniteLivedIntangibleAssetsTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of the carrying amount as of the balance sheet date of merchandise, goods, commodities, or supplies held for future sale or to be used in manufacturing, servicing or production process. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 210 -SubTopic 10 -Section S99 -Paragraph 1 -Subparagraph (SX 210.5-02(6)(c)) -URI http://asc.fasb.org/extlink&oid=6877327&loc=d3e13212-122682 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 210 -SubTopic 10 -Section S99 -Paragraph 1 -Subparagraph (SX 210.5-02(6)(b)) -URI http://asc.fasb.org/extlink&oid=6877327&loc=d3e13212-122682 Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 210 -SubTopic 10 -Section S99 -Paragraph 1 -Subparagraph (SX 210.5-02(6)(a)) -URI http://asc.fasb.org/extlink&oid=6877327&loc=d3e13212-122682 Reference 4: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 210 -SubTopic 10 -Section 50 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=6361739&loc=d3e7789-107766 + Details
Name: | us-gaap_ScheduleOfInventoryCurrentTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of the amount of amortization expense expected to be recorded in succeeding fiscal years for finite-lived intangible assets. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 350 -SubTopic 30 -Section 50 -Paragraph 2 -Subparagraph (a) -URI http://asc.fasb.org/extlink&oid=66006027&loc=d3e16323-109275 + Details
Name: | us-gaap_ScheduleofFiniteLivedIntangibleAssetsFutureAmortizationExpenseTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration