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Capital Stock, Accumulated Other Comprehensive Loss and Equity | 12 Months Ended
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Dec. 31, 2022
Equity [Abstract] |
Capital Stock, Accumulated Other Comprehensive Loss and Equity | Capital Stock, Accumulated Other Comprehensive Loss and Equity Common Stock The Company is authorized to issue up to 300,000,000 shares of Common Stock. The Company's Common Stock is listed on the New York Stock Exchange under the symbol "LEA" and has the following rights and privileges: •Voting Rights – All shares of the Company's common stock have identical rights and privileges. With limited exceptions, holders of common stock are entitled to one vote for each outstanding share of common stock held of record by each stockholder on all matters properly submitted for the vote of the Company's stockholders. •Dividend Rights – Subject to applicable law, any contractual restrictions and the rights of the holders of outstanding preferred stock, if any, holders of common stock are entitled to receive ratably such dividends and other distributions that the Company's Board of Directors (the "Board"), in its discretion, declares from time to time. •Liquidation Rights – Upon the dissolution, liquidation or winding up of the Company, subject to the rights of the holders of outstanding preferred stock, if any, holders of common stock are entitled to receive ratably the assets of the Company available for distribution to the Company's stockholders in proportion to the number of shares of common stock held by each stockholder. •Conversion, Redemption and Preemptive Rights – Holders of common stock have no conversion, redemption, sinking fund, preemptive, subscription or similar rights. Common Stock Share Repurchase Program The Company may implement share repurchases through a variety of methods, including, but not limited to, open market purchases, accelerated stock repurchase programs and structured repurchase transactions. The extent to which the Company may repurchase its outstanding common stock and the timing of such repurchases will depend upon its financial condition, results of operations, capital requirements, prevailing market conditions, alternative uses of capital and other factors. The Company has a common stock share repurchase program (the "Repurchase Program") which permits the discretionary repurchase of its common stock. Since its inception in the first quarter of 2011, the Board has authorized $6.1 billion in share repurchases under the Repurchase Program. As of December 31, 2022, the Company has repurchased, in aggregate, $4.9 billion of its outstanding common stock, at an average price of $91.55 per share, excluding commissions and related fees. As of December 31, 2022, the Company has a remaining repurchase authorization of $1.2 billion under its Repurchase Program, which expires on December 31, 2024. In March 2020, as a proactive measure in response to the COVID-19 pandemic, the Company suspended share repurchases under its Repurchase Program. Share repurchases were reinstated in the second quarter of 2021. Share repurchases are shown below (in millions, except for shares and per share amounts):
For the year ended December 31, | Aggregate Repurchases |  | Cash paid for Repurchases |  | Number of Shares |  | Average Price per Share (1)
2022 | $ | 100.3 |  |  | $ | 100.3 |  |  | 763,309 |  | $ | 131.37 |
2021 | $ | 100.3 |  |  | $ | 100.3 |  |  | 589,717 |  |  | $ | 170.03 |
2020 | $ | 70.0 |  |  | $ | 70.0 |  |  | 641,149 |  |  | $ | 109.22 |
(1) Excludes commissions. In addition to shares repurchased under the Repurchase Program described above, the Company classifies shares withheld from the settlement of the Company's restricted stock unit and performance share awards to cover tax withholding requirements as common stock held in treasury in the consolidated balance sheet. Quarterly Dividend In 2022, the Board declared quarterly cash dividends of $0.77 per share of common stock in all quarters. In 2021, the Board declared quarterly cash dividends of $0.25 per share of common stock in the first and second quarters, a quarterly cash dividend of $0.50 per share of common stock in the third quarter and a quarterly cash dividend of $0.77 per share of common stock in the fourth quarter. In 2020, the Board declared a quarterly cash dividend of $0.77 per share of common stock in the first quarter. In March 2020, as a proactive measure in response to the COVID-19 pandemic, the Company suspended its quarterly cash dividend. The quarterly cash dividend was reinstated in the fourth quarter of 2020 at $0.25 per share of common stock. Dividends declared and paid are shown below (in millions):
For the year ended December 31, | 2022 |  | 2021 |  | 2020
Dividends declared | $ | 186.2 |  |  | $ | 107.9 |  |  | $ | 62.1 |
Dividends paid | $ | 185.5 |  |  | $ | 106.7 |  |  | $ | 67.3 |
Dividends payable on common shares to be distributed under the Company's stock-based compensation program will be paid when such common shares are distributed. Comprehensive Income Comprehensive income is defined as all changes in the Company's net assets except changes resulting from transactions with stockholders. It differs from net income in that certain items recorded in equity are included in comprehensive income. Accumulated Other Comprehensive Loss A summary of changes in accumulated other comprehensive income (loss), net of tax, is shown below (in millions):
For the year ended December 31, | 2022 |  | 2021 |  | 2020
Defined benefit plans: |  |  |  |  |
Balance at beginning of year | $ | (199.4) |  |  | $ | (276.9) |  |  | $ | (217.6) |
Reclassification adjustments (net of tax expense of $1.0 million in 2022, $2.1 million in 2021 and $4.7 million in 2020) | 4.0 |  |  | 7.1 |  |  | 14.3 |
Other comprehensive income (loss) recognized during the period (net of tax benefit (expense) of ($23.9) million in 2022, ($20.6) million in 2021 and $23.2 million in 2020) | 99.7 |  |  | 70.4 |  |  | (73.6) |
Balance at end of year | $ | (95.7) |  |  | $ | (199.4) |  |  | $ | (276.9) |
Derivative instruments and hedge activities: |  |  |  |  |
Balance at beginning of year | $ | (18.6) |  |  | $ | 12.6 |  |  | $ | 9.8 |
Reclassification adjustments (net of tax benefit (expense) of $8.5 million in 2022, $8.7 million in 2021 and ($1.8) million in 2020) | (35.3) |  |  | (36.0) |  |  | 7.5 |
Other comprehensive income (loss) recognized during the period (net of tax benefit (expense) of ($19.1) million in 2022, ($1.2) million in 2021 and $1.0 million in 2020) | 87.3 |  |  | 4.8 |  |  | (4.7) |
Balance at end of year | $ | 33.4 |  |  | $ | (18.6) |  |  | $ | 12.6 |
Currency translation adjustments: |  |  |  |  |
Balance at beginning of year | $ | (552.2) |  |  | $ | (440.8) |  |  | $ | (564.9) |
Other comprehensive income (loss) recognized during the period (net of tax benefit (expense) of ($4.7) million in 2022, ($4.1) million in 2021 and $3.8 million in 2020) | (190.6) |  |  | (111.4) |  |  | 124.1 |
Balance at end of year | $ | (742.8) |  |  | $ | (552.2) |  |  | $ | (440.8) |
For the years ended December 31, 2022, 2021 and 2020, other comprehensive income (loss) related to currency translation adjustments includes pretax losses related to intercompany transactions for which settlement is not planned or anticipated in the foreseeable future of $2.6 million, $0.4 million and $0.6 million, respectively. For the years ended December 31, 2022, 2021 and 2020, other comprehensive income (loss) related to currency translation adjustments also includes net investment hedge gains (losses) of $25.3 million, $17.9 million and ($18.3) million, respectively. Redeemable Noncontrolling Interest In accordance with GAAP, the Company records redeemable noncontrolling interests at the greater of (1) the initial carrying amount adjusted for the noncontrolling interest holder's share of total comprehensive income or loss and dividends ("noncontrolling interest carrying value") or (2) the redemption value as of and based on conditions existing as of the reporting date. Required redeemable noncontrolling interest adjustments are recorded as an increase to redeemable noncontrolling interests, with an offsetting adjustment to retained earnings. Redeemable noncontrolling interest is classified in mezzanine equity. In 2020, the noncontrolling interest holder in Shanghai Lear STEC Automotive Parts Co., Ltd. exercised its option requiring the Company to purchase its 45% redeemable noncontrolling interest. The transaction was completed in the fourth quarter of 2020 for $95.5 million plus undistributed retained earnings of $26.8 million. These amounts are reflected in cash flows from financing activities in the accompanying statement of cash flows for the year ended December 31, 2020. Noncontrolling Interests In 2021, the Company sold a 49% equity interest in its wholly owned consolidated subsidiary, Shenyang Lear Jinbei Automotive Systems Co., Ltd. ("Shenyang Lear"), for $36.2 million. The Company continues to control Shenyang Lear, and as a result, the operating results and cash flows of Shenyang Lear continue to be included in the Company's consolidated financial statements. Noncontrolling interest of $7.6 million was recorded in conjunction with the transaction. The difference between the consideration paid and the carrying value of the noncontrolling interest recorded is reflected in additional paid-in capital in the accompanying consolidated balance sheets. The proceeds from the sale are classified within cash flows used in financing activities in the accompanying consolidated statement of cash flows for the year ended December 31, 2021.

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- Definition The entire disclosure for shareholders' equity comprised of portions attributable to the parent entity and noncontrolling interest, including other comprehensive income. Includes, but is not limited to, balances of common stock, preferred stock, additional paid-in capital, other capital and retained earnings, accumulated balance for each classification of other comprehensive income and amount of comprehensive income. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 505 -URI https://asc.fasb.org/topic&trid=2208762 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 505 -SubTopic 10 -Section 50 -Paragraph 13 -Subparagraph (b) -URI https://asc.fasb.org/extlink&oid=126973232&loc=SL123496158-112644 Reference 3: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 505 -SubTopic 10 -Section 50 -Paragraph 13 -URI https://asc.fasb.org/extlink&oid=126973232&loc=SL123496158-112644 Reference 4: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 505 -SubTopic 10 -Section 50 -Paragraph 14 -Subparagraph (c) -URI https://asc.fasb.org/extlink&oid=126973232&loc=SL123496171-112644 Reference 5: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 505 -SubTopic 10 -Section 50 -Paragraph 14 -Subparagraph (b) -URI https://asc.fasb.org/extlink&oid=126973232&loc=SL123496171-112644 Reference 6: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 505 -SubTopic 10 -Section S99 -Paragraph 1 -Subparagraph (SX 210.3-04) -URI https://asc.fasb.org/extlink&oid=120397183&loc=d3e187085-122770 Reference 7: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 505 -SubTopic 10 -Section 50 -Paragraph 18 -Subparagraph (d) -URI https://asc.fasb.org/extlink&oid=126973232&loc=SL123496189-112644 Reference 8: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 505 -SubTopic 10 -Section 50 -Paragraph 13 -Subparagraph (g) -URI https://asc.fasb.org/extlink&oid=126973232&loc=SL123496158-112644 Reference 9: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 505 -SubTopic 10 -Section 50 -Paragraph 18 -Subparagraph (a) -URI https://asc.fasb.org/extlink&oid=126973232&loc=SL123496189-112644 Reference 10: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 505 -SubTopic 10 -Section 50 -Paragraph 13 -Subparagraph (h) -URI https://asc.fasb.org/extlink&oid=126973232&loc=SL123496158-112644 Reference 11: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 505 -SubTopic 10 -Section 50 -Paragraph 14 -Subparagraph (a) -URI https://asc.fasb.org/extlink&oid=126973232&loc=SL123496171-112644 Reference 12: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 505 -SubTopic 10 -Section 50 -Paragraph 18 -Subparagraph (b) -URI https://asc.fasb.org/extlink&oid=126973232&loc=SL123496189-112644 Reference 13: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 505 -SubTopic 10 -Section 50 -Paragraph 16 -Subparagraph (b) -URI https://asc.fasb.org/extlink&oid=126973232&loc=SL123496180-112644 Reference 14: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 505 -SubTopic 10 -Section 50 -Paragraph 13 -Subparagraph (i) -URI https://asc.fasb.org/extlink&oid=126973232&loc=SL123496158-112644 Reference 15: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 235 -SubTopic 10 -Section S99 -Paragraph 1 -Subparagraph (SX 210.4-08(e)(1)) -URI https://asc.fasb.org/extlink&oid=120395691&loc=d3e23780-122690 Reference 16: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 815 -SubTopic 40 -Section 50 -Paragraph 6 -Subparagraph (a) -URI https://asc.fasb.org/extlink&oid=126731327&loc=SL126733271-114008 + Details
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