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Stockholders' Equity and Non-controlling Interests | 3 Months Ended
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Mar. 31, 2018
Equity [Abstract] |
Shareholders' Equity and Non-controlling Interests | Stockholders’ Equity and Non-controlling Interests Changes in equity for the three months ended March 31, 2018 and 2017 are as follows:
| 2018 |  | 2017
| Visteon |  | NCI |  | Total |  | Visteon |  | NCI |  | Total
| (Dollars in Millions)
Three Months Ended March 31, 2018 |  |  |  |  |  |  |  |  |  |  |
Beginning balance | $ | 637 |  |  | $ | 124 |  |  | $ | 761 |  |  | $ | 586 |  |  | $ | 138 |  |  | $ | 724 |
Net income from continuing operations | 63 |  |  | 4 |  |  | 67 |  |  | 55 |  |  | 4 |  |  | 59 |
Net income from discontinued operations | 2 |  |  | — |  |  | 2 |  |  | 8 |  |  | — |  |  | 8 |
Net income | 65 |  |  | 4 |  |  | 69 |  |  | 63 |  |  | 4 |  |  | 67 |
Other comprehensive income (loss) |  |  |  |  |  |  |  |  |  |  |
Foreign currency translation adjustments | 20 |  |  | 6 |  |  | 26 |  |  | 19 |  |  | 1 |  |  | 20 |
Net investment hedge | (6 | ) |  | — |  |  | (6 | ) |  | (1 | ) |  | — |  |  | (1 | )
Unrealized hedging gain | 3 |  |  | — |  |  | 3 |  |  | 4 |  |  | — |  |  | 4 |
Total other comprehensive income | 17 |  |  | 6 |  |  | 23 |  |  | 22 |  |  | 1 |  |  | 23 |
Stock-based compensation, net | (13 | ) |  | — |  |  | (13 | ) |  | 2 |  |  | — |  |  | 2 |
Share repurchases | (200 | ) |  | — |  |  | (200 | ) |  | (125 | ) |  | — |  |  | (125 | )
Dividends to non-controlling interests | — |  |  | (25 | ) |  | (25 | ) |  | — |  |  | (11 | ) |  | (11 | )
Ending balance | $ | 506 |  |  | $ | 109 |  |  | $ | 615 |  |  | $ | 548 |  |  | $ | 132 |  |  | $ | 680 |
Stock-based Compensation, net During the three months ended March 31, 2018, equity increased $13 million due to the forfeiture of unvested shares for a litigation matter with the Company's former CEO as further described in Note 16, Commitments and Contingencies, classified as a benefit of $10 million to selling, general and administrative expenses and a $3 million benefit classified as discontinued operations. Share Repurchase Program On January 9, 2017, the Company's Board of Directors authorized $400 million of share repurchases of common stock through March 2018. During first quarter of 2017, the Company entered into an accelerated share buyback ("ASB") program to purchase shares of Visteon common stock for an aggregate purchase price of $125 million. Under this program, the Company purchased 1,300,366 shares at an average price of $96.13. Beginning in the second quarter of 2017, the Company paid approximately $75 million to repurchase 677,778 shares at an average price of $110.63 via open market share repurchases through December 31, 2017. During the first quarter of 2018, the Company entered into various programs with third-party financial institutions to purchase a total of 410,325 shares of Visteon common stock at an average price of $121.85 for an aggregate purchase price of $50 million as further described below:
• | On December 19, 2017, the Company entered into a forward starting share repurchase agreement with a third party financial institution to purchase up to $25 million of the Company's common stock complying with the provisions of Rule 10b5-1 and Rule 10b-18 under the Securities Exchange Act of 1934. Share purchases under the program commenced on January 2, 2018 and expired on February 26, 2018. Under this arrangement, the Company paid approximately $13 million to purchase a total of 109,190 shares with an average price of $120.41.
• | On January 15, 2018, the Company's Board of Directors authorized an additional $500 million of share repurchases, for a total authorization of $700 million, of its share of common stock through 2020.
• | During the first quarter of 2018, the Company entered into a brokerage agreement with a third-party financial institution to execute open market repurchases of the Company's common stock. Pursuant to this arrangement the Company paid $12 million to repurchase 96,360 shares at an average price of $122.99.
• | On March 6, 2018, the Company entered into a share repurchase agreement with a third party financial institution to purchase shares of its common stock complying with the provisions of Rule 10b5-1 and Rule 10b-18 under the Securities Exchange Act of 1934. Share purchases under the program commenced on March 6, 2018 and expired on March 19, 2018. The Company paid approximately $25 million to purchase a total of 204,775 shares with an average price of $122.08 under this program.
Additionally, on March 6, 2018 the Company entered into an Accelerated Share Buyback ("ASB") program with a third-party financial institution to purchase shares of Visteon common stock for an aggregate purchase price of $150 million. On March 7, 2018, the Company received an initial delivery of 988,386 shares of common stock using a reference price of $121.41. The program is expected to conclude by the end of third quarter 2018. As of March 31, 2018, $500 million of the authorization through 2020 remains outstanding. The Company anticipates that additional repurchases of common stock, if any, would occur from time to time in open market transactions or in privately negotiated transactions depending on market and economic conditions, share price, trading volume, alternative uses of capital and other factors. Non-Controlling Interests The Company's non-controlling interests are as follows:
| March 31 |  | December 31
| 2018 |  | 2017
| (Dollars in Millions)
Yanfeng Visteon Automotive Electronics Co., Ltd. | $ | 64 |  |  | $ | 77 |
Shanghai Visteon Automotive Electronics, Co., Ltd. | 43 |  |  | 44 |
Other | 2 |  |  | 3 |
| $ | 109 |  |  | $ | 124 |
Accumulated Other Comprehensive Income (Loss) Changes in Accumulated other comprehensive income (loss) (“AOCI”) and reclassifications out of AOCI by component include:
| Three Months Ended March 31
| 2018 |  | 2017
| (Dollars in Millions)
Changes in AOCI: |  |  |
Beginning balance | $ | (174 | ) |  | $ | (233 | )
Other comprehensive income before reclassification, net of tax | 17 |  |  | 20 |
Amounts reclassified from AOCI | — |  |  | 2 |
Ending balance | $ | (157 | ) |  | $ | (211 | )
Changes in AOCI by Component:
Foreign currency translation adjustments |  |  |
Beginning balance | $ | (100 | ) |  | $ | (163 | )
Other comprehensive income before reclassification, net of tax (a) | 20 |  |  | 19 |
Ending balance | (80 | ) |  | (144 | )
Net investment hedge |  |  |
Beginning balance | (12 | ) |  | 10 |
Other comprehensive loss before reclassification, net of tax (a) | (6 | ) |  | (1 | )
Ending balance | (18 | ) |  | 9 |
Benefit plans |  |  |
Beginning balance | (63 | ) |  | (75 | )
Other comprehensive income before reclassification, net of tax (a) | — |  |  | — |
Amounts reclassified from AOCI | — |  |  | — |
Ending balance | (63 | ) |  | (75 | )
Unrealized hedging (loss) gain |  |  |
Beginning balance | 1 |  |  | (5 | )
Other comprehensive income before reclassification, net of tax (b) | 3 |  |  | 2 |
Amounts reclassified from AOCI | — |  |  | 2 |
Ending balance | 4 |  |  | (1 | )
Total AOCI | $ | (157 | ) |  | $ | (211 | )
(a) Net tax expense was less than $1 million effects for the three months ended March 31, 2018. Income tax effects for all other periods are zero after recording offsetting valuation allowance. (b) Net tax expense of less than $1 million and $1 million are related to unrealized hedging (losses) gains for the three months ended March 31, 2018 and 2017, respectively.

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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://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 310 -SubTopic 10 -Section S99 -Paragraph 4 -Subparagraph (SAB Topic 4.E) -URI http://asc.fasb.org/extlink&oid=27010918&loc=d3e74567-122707 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 505 -SubTopic 10 -Section 50 -Paragraph 4 -URI http://asc.fasb.org/extlink&oid=6928386&loc=d3e21484-112644 Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 210 -SubTopic 10 -Section S99 -Paragraph 1 -Subparagraph (SX 210.5-02(29)) -URI http://asc.fasb.org/extlink&oid=6877327&loc=d3e13212-122682 Reference 4: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 505 -SubTopic 10 -Section 50 -Paragraph 5 -URI http://asc.fasb.org/extlink&oid=6928386&loc=d3e21488-112644 Reference 5: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 235 -SubTopic 10 -Section S99 -Paragraph 1 -Subparagraph (SX 210.4-08(e)) -URI http://asc.fasb.org/extlink&oid=26873400&loc=d3e23780-122690 Reference 6: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 210 -SubTopic 10 -Section S99 -Paragraph 1 -Subparagraph (SX 210.5-02(31)) -URI http://asc.fasb.org/extlink&oid=6877327&loc=d3e13212-122682 Reference 7: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 505 -SubTopic 10 -Section S99 -Paragraph 4 -Subparagraph (SAB Topic 4.C) -URI http://asc.fasb.org/extlink&oid=27012166&loc=d3e187143-122770 Reference 8: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 210 -SubTopic 10 -Section S99 -Paragraph 1 -Subparagraph (SX 210.5-02(30)) -URI http://asc.fasb.org/extlink&oid=6877327&loc=d3e13212-122682 Reference 9: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 505 -SubTopic 10 -Section 50 -Paragraph 6 -URI http://asc.fasb.org/extlink&oid=6928386&loc=d3e21506-112644 Reference 10: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 235 -SubTopic 10 -Section S99 -Paragraph 1 -Subparagraph (SX 210.4-08(d)) -URI http://asc.fasb.org/extlink&oid=26873400&loc=d3e23780-122690 Reference 11: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 505 -SubTopic 10 -Section S99 -Paragraph 1 -Subparagraph (SX 210.3-04) -URI http://asc.fasb.org/extlink&oid=27012166&loc=d3e187085-122770 Reference 12: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 505 -SubTopic 30 -Section 50 -Paragraph 2 -URI http://asc.fasb.org/extlink&oid=6405834&loc=d3e23285-112656 Reference 13: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 505 -SubTopic 10 -Section 50 -Paragraph 3 -URI http://asc.fasb.org/extlink&oid=6928386&loc=d3e21475-112644 Reference 14: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Glossary Preferred Stock -URI http://asc.fasb.org/extlink&oid=6521494 Reference 15: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 505 -SubTopic 10 -Section 50 -Paragraph 2 -URI http://asc.fasb.org/extlink&oid=6928386&loc=d3e21463-112644 Reference 16: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 505 -SubTopic 10 -Section 50 -Paragraph 11 -URI http://asc.fasb.org/extlink&oid=6928386&loc=d3e21564-112644 + Details
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