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Segment Reporting (Tables) | 12 Months Ended
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Dec. 31, 2024
Segment Reporting [Abstract] |
Reconciliation of Segment Earnings to Consolidated Income Before Provision for Income Taxes | 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):
| Year Ended December 31, 2024
| Seating |  | E-Systems |  | Other |  | Consolidated
Revenues from external customers | $ | 17,222.1 |  |  | $ | 6,083.9 |  |  | $ | — |  |  | $ | 23,306.0 |
Intersegment revenues(1) | 3.4 |  |  | 230.1 |  |  | (233.5) |  |  | — |
Less(2): |  |  |  |  |  |  |
Cost of sales | 15,845.5 |  |  | 5,892.2 |  |  | (71.0) |  |  | 21,666.7 |
Gross margin | 1,380.0 |  |  | 421.8 |  |  | (162.5) |  |  | 1,639.3 |
Selling, general and administrative | 348.7 |  |  | 154.6 |  |  | 199.2 |  |  | 702.5 |
Amortization of intangibles | 37.2 |  |  | 11.9 |  |  | — |  |  | 49.1 |
Intersegment support activities | 5.6 |  |  | 7.9 |  |  | (13.5) |  |  | — |
Segment earnings(3) | $ | 988.5 |  |  | $ | 247.4 |  |  | $ | (348.2) |  |  | 887.7 |
Reconciliation of segment earnings: |  |  |  |  |  |  |
Interest expense, net |  |  |  |  |  |  | 106.2 |
Other expense, net |  |  |  |  |  |  | 48.6 |
Consolidated income before provision for income taxes and equity in net income of affiliates |  |  |  |  |  |  | $ | 732.9 |
| Year Ended December 31, 2023
| Seating |  | E-Systems |  | Other |  | Consolidated
Revenues from external customers | $ | 17,548.8 |  |  | $ | 5,918.1 |  |  | $ | — |  |  | $ | 23,466.9 |
Intersegment revenues (1) | 0.6 |  |  | 224.9 |  |  | (225.5) |  |  | — |
Less (2): |  |  |  |  |  |  |
Cost of sales | 16,090.0 |  |  | 5,730.4 |  |  | (63.9) |  |  | 21,756.5 |
Gross margin | 1,459.4 |  |  | 412.6 |  |  | (161.6) |  |  | 1,710.4 |
Selling, general and administrative | 346.5 |  |  | 156.6 |  |  | 211.6 |  |  | 714.7 |
Amortization of intangibles | 39.0 |  |  | 23.5 |  |  | — |  |  | 62.5 |
Intersegment support activities | 7.0 |  |  | 3.6 |  |  | (10.6) |  |  | — |
Segment earnings (3) | $ | 1,066.9 |  |  | $ | 228.9 |  |  | $ | (362.6) |  |  | 933.2 |
Reconciliation of segment earnings: |  |  |  |  |  |  |
Interest expense, net |  |  |  |  |  |  | 101.1 |
Other expense, net |  |  |  |  |  |  | 54.9 |
Consolidated income before provision for income taxes and equity in net income of affiliates |  |  |  |  |  |  | $ | 777.2 |
| Year Ended December 31, 2022
| Seating |  | E-Systems |  | Other |  | Consolidated
Revenues from external customers | $ | 15,711.2 |  |  | $ | 5,180.3 |  |  | $ | — |  |  | $ | 20,891.5 |
Intersegment revenues(1) | 2.3 |  |  | 188.4 |  |  | (190.7) |  |  | — |
Less(2): |  |  |  |  |  |  |
Cost of sales | 14,472.2 |  |  | 5,078.8 |  |  | (69.4) |  |  | 19,481.6 |
Gross margin | 1,241.3 |  |  | 289.9 |  |  | (121.3) |  |  | 1,409.9 |
Selling, general and administrative | 306.9 |  |  | 178.7 |  |  | 199.2 |  |  | 684.8 |
Amortization of intangibles | 38.6 |  |  | 32.2 |  |  | — |  |  | 70.8 |
Intersegment support activities | 2.8 |  |  | 4.6 |  |  | (7.4) |  |  | — |
Segment earnings(3) | $ | 893.0 |  |  | $ | 74.4 |  |  | $ | (313.1) |  |  | 654.3 |
Reconciliation of segment earnings: |  |  |  |  |  |  |
Interest expense, net |  |  |  |  |  |  | 98.6 |
Other expense, net |  |  |  |  |  |  | 46.4 |
Consolidated income before provision for income taxes and equity in net income of affiliates |  |  |  |  |  |  | $ | 509.3 |
(1) Intersegment transactions are accounted for at values comparable to unaffiliated third-party transactions. (2) The significant expense categories and amounts align with the segment-level information that is regularly provided to the CODM. Intersegment expenses are included within the amounts shown. (3) For a definition of segment earnings, see Note 2, "Summary of Significant Accounting Policies — Segment Reporting."
Summary of Segment Financial Information | Other segment related disclosures are shown below (in millions):
| Year Ended December 31, 2024
| Seating |  | E-Systems |  | Other |  | Consolidated
Depreciation | $ | 370.9 |  |  | $ | 180.1 |  |  | $ | 20.6 |  |  | $ | 571.6 |
Capital expenditures | 375.0 |  |  | 166.7 |  |  | 17.0 |  |  | 558.7 |
Inventories | 828.1 |  |  | 773.0 |  |  | — |  |  | 1,601.1 |
Total assets | 7,974.4 |  |  | 3,799.1 |  |  | 2,254.0 |  |  | 14,027.5 |
| For the year ended December 31, 2023
| Seating |  | E-Systems |  | Other |  | Consolidated
Depreciation | $ | 355.4 |  |  | $ | 165.8 |  |  | $ | 20.7 |  |  | $ | 541.9 |
Capital expenditures | 344.6 |  |  | 261.3 |  |  | 20.6 |  |  | 626.5 |
Inventories | 920.9 |  |  | 837.1 |  |  | — |  |  | 1,758.0 |
Total assets | 8,371.2 |  |  | 4,046.5 |  |  | 2,277.8 |  |  | 14,695.5 |
| For the year ended December 31, 2022
| Seating |  | E-Systems |  | Other |  | Consolidated
Depreciation | $ | 331.0 |  |  | $ | 156.0 |  |  | $ | 18.7 |  |  | $ | 505.7 |
Capital expenditures | 369.4 |  |  | 241.3 |  |  | 27.5 |  |  | 638.2 |
Revenues From External Customers and Tangible Long-lived Assets by Geographic Area | 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, | 2024 |  | 2023 |  | 2022
Revenues from external customers |  |  |  |  |
United States | $ | 5,050.4 |  |  | $ | 4,863.8 |  |  | $ | 4,751.6 |
Mexico | 3,673.7 |  |  | 3,434.4 |  |  | 3,182.7 |
China | 2,969.5 |  |  | 3,044.9 |  |  | 2,976.1 |
Germany | 1,364.4 |  |  | 1,402.2 |  |  | 1,211.0 |
Morocco | 1,219.8 |  |  | 1,085.8 |  |  | 778.4 |
Other countries | 9,028.2 |  |  | 9,635.8 |  |  | 7,991.7 |
Total | $ | 23,306.0 |  |  | $ | 23,466.9 |  |  | $ | 20,891.5 |
December 31, | 2024 |  | 2023
Tangible long-lived assets (1) |  |  |
Mexico | $ | 723.1 |  |  | $ | 740.5 |
United States | 700.2 |  |  | 730.6 |
China | 404.1 |  |  | 457.0 |
Morocco | 242.0 |  |  | 246.5 |
Poland | 203.5 |  |  | 241.5 |
Germany | 168.2 |  |  | 200.3 |
Other countries | 1,092.1 |  |  | 1,094.5 |
Total | $ | 3,533.2 |  |  | $ | 3,710.9 |
(1) Tangible long-lived assets include property, plant and equipment and right-of-use assets.
Summary of Percentage of Revenues from Major Customers | A summary of revenues from major customers is shown below:
For the year ended December 31, | 2024 |  | 2023 |  | 2022
General Motors | 21.8% |  | 19.8% |  | 20.2%
Ford | 11.1% |  | 11.4% |  | 13.5%
Volkswagen | 10.5% |  | 11.0% |  | 10.8%
Mercedes-Benz | 10.5% |  | 10.4% |  | 11.3%
Stellantis | 8.6% |  | 10.2% |  | 10.3%

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- Definition Tabular disclosure of the reconciliation of profit (loss) from reportable segments to the consolidated income (loss) before income tax expense (benefit) and discontinued operations. Includes, but is not limited to, reconciliation after income tax if income tax is allocated to the reportable segment. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 31 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482810/280-10-50-31 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 30 -Subparagraph (b) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482810/280-10-50-30 + Details
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- Definition Tabular disclosure of the extent of the entity's reliance on its major customers, if revenues from transactions with a single external customer amount to 10 percent or more of entity revenues, including the disclosure of that fact, the total amount of revenues from each such customer, and the identity of the reportable segment or segments reporting the revenues. The entity need not disclose the identity of a major customer or the amount of revenues that each segment reports from that customer. For these purposes, a group of companies known to the entity to be under common control is considered a single customer, and the federal government, a state government, a local government such as a county or municipality, or a foreign government is each considered a single customer. + References No definition available. + Details
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- Definition Tabular disclosure of information concerning material long-lived assets (excluding financial instruments, customer relationships with financial institutions, mortgage and other servicing rights, deferred policy acquisition costs, and deferred taxes assets) located in identified geographic areas and/or the amount of revenue from external customers attributed to that country from which revenue is material. An entity may also provide subtotals of geographic information about groups of countries. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 220 -SubTopic 10 -Name Accounting Standards Codification -Section S99 -Paragraph 2 -Subparagraph (SX 210.5-03(1)) -Publisher FASB -URI https://asc.fasb.org/1943274/2147483621/220-10-S99-2 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 41 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482810/280-10-50-41 + Details
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- Definition Tabular disclosure of the profit or loss and total assets for each reportable segment. An entity discloses certain information on each reportable segment if the amounts (a) are included in the measure of segment profit or loss reviewed by the chief operating decision maker or (b) are otherwise regularly provided to the chief operating decision maker, even if not included in that measure of segment profit or loss. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 25 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482810/280-10-50-25 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 22 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482810/280-10-50-22 Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 30 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482810/280-10-50-30 + Details
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