XML 41 R24.htm IDEA: XBRL DOCUMENT v3.20.4
Segment Reporting
 12 Months Ended
Dec. 31, 2020
Segment Reporting [Abstract]  
Segment Reporting Segment Reporting
A summary of revenues from external customers and other financial information by reportable operating segment is shown below (in millions):
 Year Ended December 31, 2020
 SeatingE-SystemsOtherConsolidated
Revenues from external customers$12,712.7 $4,332.8 $— $17,045.5 
Segment earnings (1)
590.5 98.1 (234.5)454.1 
Depreciation and amortization348.1 176.6 15.2 539.9 
Capital expenditures257.2 179.3 15.8 452.3 
Total assets7,596.1 3,403.3 2,199.2 13,198.6 
 Year Ended December 31, 2019
 SeatingE-SystemsOtherConsolidated
Revenues from external customers$15,097.2 $4,713.1 $— $19,810.3 
Segment earnings (1)
961.2 366.3 (257.3)1,070.2 
Depreciation and amortization331.0 163.0 15.9 509.9 
Capital expenditures370.4 213.9 19.6 603.9 
Total assets7,277.6 3,068.1 2,335.0 12,680.7 
 Year Ended December 31, 2018
 SeatingE-SystemsOtherConsolidated
Revenues from external customers$16,021.9 $5,126.6 $— $21,148.5 
Segment earnings (1)
1,263.6 628.5 (238.0)1,654.1 
Depreciation and amortization323.5 146.2 14.7 484.4 
Capital expenditures459.8 208.4 8.8 677.0 
(1)For a definition of segment earnings, see Note 3 , "Summary of Significant Accounting Policies — Segment Reporting."
For the year ended December 31, 2020, segment earnings include restructuring charges of $83.1 million, $54.5 million and $1.1 million in the Seating and E-Systems segments and in the other category, respectively. The Company expects to incur approximately $11 million and approximately $7 million of additional restructuring costs in the Seating and E-Systems segments, respectively, related to activities initiated as of December 31, 2020, and expects that the components of such costs will be consistent with its historical experience.
For the year ended December 31, 2019, segment earnings include restructuring charges of $150.1 million, $38.0 million and $2.1 million in the Seating and E-Systems segments and in the other category, respectively.
For the year ended December 31, 2018, segment earnings include restructuring charges of $62.3 million, $20.9 million and $4.8 million in the Seating and E-Systems segments and in the other category, respectively.
For further information, see Note 5, "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):
For the year ended December 31,202020192018
Segment earnings$688.6 $1,327.5 $1,892.1 
Corporate and regional headquarters and elimination of intercompany activity ("Other")(234.5)(257.3)(238.0)
Consolidated income before interest, other expense, provision for income taxes and equity in net income of affiliates454.1 1,070.2 1,654.1 
Interest expense99.6 92.0 84.1 
Other expense, net55.2 24.6 31.6 
Consolidated income before provision for income taxes and equity in net income of affiliates$299.3 $953.6 $1,538.4 
Revenues from external customers and tangible long-lived assets for each of the geographic areas in which the Company operates is shown below (in millions):
For the year ended December 31,202020192018
Revenues from external customers
United States$3,599.1 $3,658.5 $3,717.7 
Mexico2,528.4 3,058.6 3,236.9 
China2,592.7 2,579.7 2,781.5 
Germany1,288.3 1,698.7 2,187.2 
Other countries7,037.0 8,814.8 9,225.2 
Total$17,045.5 $19,810.3 $21,148.5 
December 31,20202019
Tangible long-lived assets (1)
United States$534.0 $549.8 
Mexico689.9 700.1 
China458.2 450.2 
Germany205.8 204.9 
Other countries1,388.6 1,326.2 
Total$3,276.5 $3,231.2 
(1)Tangible long-lived assets include property, plant and equipment and right-of-use assets.
The following is a summary of the percentage of revenues from major customers:
For the year ended December 31,202020192018
General Motors18.7%18.2%18.1%
Ford13.5%13.8%15.6%
Daimler11.9%11.1%9.9%
Volkswagen11.7%10.9%9.6%