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Segment Reporting | 6 Months Ended
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Jun. 29, 2019
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, as well as sophisticated electronic control modules, electrification products, connectivity products and software solutions for the cloud, cars and mobile devices. 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. Corporate and regional headquarters costs include various support functions, such as information technology, corporate finance, legal, executive administration and human resources, as well as advanced engineering expenses. 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 (income) 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 June 29, 2019
| Seating |  | E-Systems |  | Other |  | Consolidated
Revenues from external customers | $ | 3,839.4 |  |  | $ | 1,168.2 |  |  | $ | — |  |  | $ | 5,007.6 |
Segment earnings (1) | 283.2 |  |  | 84.7 |  |  | (62.7 | ) |  | 305.2 |
Depreciation and amortization | 83.4 |  |  | 40.9 |  |  | 4.0 |  |  | 128.3 |
Capital expenditures | 80.0 |  |  | 52.5 |  |  | 4.0 |  |  | 136.5 |
Total assets | 7,714.0 |  |  | 3,093.2 |  |  | 2,040.5 |  |  | 12,847.7 |
| Three Months Ended June 30, 2018
| Seating |  | E-Systems |  | Other |  | Consolidated
Revenues from external customers | $ | 4,274.7 |  |  | $ | 1,306.1 |  |  | $ | — |  |  | $ | 5,580.8 |
Segment earnings (1) | 348.3 |  |  | 175.1 |  |  | (55.2 | ) |  | 468.2 |
Depreciation and amortization | 81.4 |  |  | 36.9 |  |  | 3.5 |  |  | 121.8 |
Capital expenditures | 113.7 |  |  | 52.4 |  |  | 3.3 |  |  | 169.4 |
Total assets | 7,508.2 |  |  | 2,530.3 |  |  | 2,243.9 |  |  | 12,282.4 |
| Six Months Ended June 29, 2019
| Seating |  | E-Systems |  | Other |  | Consolidated
Revenues from external customers | $ | 7,753.1 |  |  | $ | 2,414.6 |  |  | $ | — |  |  | $ | 10,167.7 |
Segment earnings (1) | 535.5 |  |  | 213.0 |  |  | (131.1 | ) |  | 617.4 |
Depreciation and amortization | 166.3 |  |  | 77.7 |  |  | 7.9 |  |  | 251.9 |
Capital expenditures | 160.2 |  |  | 91.6 |  |  | 7.5 |  |  | 259.3 |
| Six Months Ended June 30, 2018
| Seating |  | E-Systems |  | Other |  | Consolidated
Revenues from external customers | $ | 8,604.6 |  |  | $ | 2,709.9 |  |  | $ | — |  |  | $ | 11,314.5 |
Segment earnings (1) | 687.8 |  |  | 365.9 |  |  | (122.6 | ) |  | 931.1 |
Depreciation and amortization | 161.4 |  |  | 73.5 |  |  | 7.1 |  |  | 242.0 |
Capital expenditures | 226.0 |  |  | 100.6 |  |  | 5.6 |  |  | 332.2 |
(1) See definition above For the three months ended June 29, 2019, segment earnings include restructuring charges of $28.3 million, $8.3 million and $0.1 million in the Seating and E-Systems segments and in the other category, respectively. For the six months ended June 29, 2019, segment earnings include restructuring charges of $73.5 million, $17.2 million and $0.3 million in the Seating and E-Systems segments and in the other category, respectively. For the three months ended June 30, 2018, segment earnings include restructuring charges of $5.9 million, $3.6 million and $0.5 million in the Seating and E-Systems segments and in the other category, respectively. For the six months ended June 30, 2018, segment earnings include restructuring charges of $20.3 million, $5.5 million and $2.6 million in the Seating and E-Systems segments and in the other category, respectively. For further information, see 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
| June 29, 2019 |  | June 30, 2018 |  | June 29, 2019 |  | June 30, 2018
Segment earnings | $ | 305.2 |  |  | $ | 468.2 |  |  | $ | 617.4 |  |  | $ | 931.1 |
Interest expense | 24.5 |  |  | 20.9 |  |  | 45.4 |  |  | 41.6 |
Other (income) expense, net | 13.8 |  |  | 3.7 |  |  | 18.2 |  |  | (1.9 | )
Consolidated income before provision for income taxes and equity in net income of affiliates | $ | 266.9 |  |  | $ | 443.6 |  |  | $ | 553.8 |  |  | $ | 891.4 |

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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://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -URI http://asc.fasb.org/topic&trid=2134510 + Details
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