0001564590-20-049114 | 10-Q | XBRL Viewer

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Cover Page - shares	9 Months Ended
Cover Page - shares	Oct. 03, 2020	Oct. 27, 2020
Cover [Abstract]
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Oct. 03, 2020
Document Transition Report	false
Entity File Number	001-11311
Entity Incorporation, State or Country Code	DE
Entity Tax Identification Number	13-3386776
Entity Address, Address Line One	21557 Telegraph Road
Entity Address, City or Town	Southfield
Entity Address, State or Province	MI
Entity Address, Postal Zip Code	48033
City Area Code	248
Local Phone Number	447-1500
Title of 12(b) Security	Common stock, par value $0.01
Trading Symbol	LEA
Security Exchange Name	NYSE
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Large Accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	false
Entity Shell Company	false
Entity Common Stock, Shares Outstanding		60,038,784
Amendment Flag	false
Document Fiscal Year Focus	2020
Document Fiscal Period Focus	Q3
Entity Registrant Name	LEAR CORP
Entity Central Index Key	0000842162
Current Fiscal Year End Date	--12-31

Condensed Consolidated Balance Sheets - USD ($) $ in Millions	Oct. 03, 2020	Dec. 31, 2019
CURRENT ASSETS:
Cash and cash equivalents	$ 1,250.4	$ 1,487.7
Accounts receivable	3,386.8	2,982.6
Inventories	1,265.6	1,258.2
Other	695.7	678.2
Total current assets	6,598.5	6,406.7
LONG-TERM ASSETS:
Property, plant and equipment, net	2,627.3	2,704.2
Goodwill	1,629.0	1,614.3
Other	2,039.9	1,955.5
Total long-term assets	6,296.2	6,274.0
Total assets	12,894.7	12,680.7
CURRENT LIABILITIES:
Short-term borrowings	4.4	19.2
Accounts payable and drafts	2,943.4	2,821.7
Accrued liabilities	2,087.8	1,811.2
Current portion of long-term debt	18.9	14.1
Total current liabilities	5,054.5	4,666.2
LONG-TERM LIABILITIES:
Long-term debt	2,299.8	2,293.7
Other	1,145.0	1,101.3
Total long-term liabilities	3,444.8	3,395.0
Redeemable noncontrolling interest	119.3	118.4
EQUITY:
Preferred stock, 100,000,000 shares authorized (including 10,896,250 Series A convertible preferred stock authorized); no shares outstanding
Common stock, $0.01 par value, 300,000,000 shares authorized; 64,563,291 shares issued as of October 3, 2020 and December 31, 2019	0.6	0.6
Additional paid-in capital	957.5	969.1
Common stock held in treasury, 4,577,977 and 4,127,806 shares as of October 3, 2020 and December 31, 2019, respectively, at cost	(606.3)	(563.1)
Retained earnings	4,620.7	4,715.8
Accumulated other comprehensive loss	(839.7)	(772.7)
Lear Corporation stockholders’ equity	4,132.8	4,349.7
Noncontrolling interests	143.3	151.4
Equity	4,276.1	4,501.1
Total liabilities and equity	$ 12,894.7	$ 12,680.7

Condensed Consolidated Balance Sheets (Parenthetical) - $ / shares	Oct. 03, 2020	Dec. 31, 2019
Preferred stock, shares authorized (in shares)	100,000,000	100,000,000
Preferred stock, shares outstanding (in shares)	0	0
Common stock, par value (in dollars per share)	$ 0.01	$ 0.01
Common stock, shares authorized (in shares)	300,000,000	300,000,000
Common stock, shares issued (in shares)	64,563,291	64,563,291
Common stock held in treasury, shares (in shares)	4,577,977	4,127,806
Series A convertible preferred stock
Preferred stock, shares authorized (in shares)	10,896,250	10,896,250

Condensed Consolidated Statements of Comprehensive Income (Loss) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Oct. 03, 2020	Sep. 28, 2019	Oct. 03, 2020	Sep. 28, 2019
Income Statement [Abstract]
Net sales	$ 4,900.1	$ 4,825.0	$ 11,802.3	$ 14,992.7
Cost of sales	4,457.3	4,365.7	11,152.7	13,582.0
Selling, general and administrative expenses	147.7	141.9	442.3	447.3
Amortization of intangible assets	16.3	16.7	49.4	45.3
Interest expense	26.5	24.0	78.1	69.4
Other expense, net	17.1	9.7	54.4	27.9
Consolidated income before provision for income taxes and equity in net income of affiliates	235.2	267.0	25.4	820.8
Provision for income taxes	44.6	33.5	30.1	149.9
Equity in net income of affiliates	(6.5)	(5.1)	(15.9)	(15.8)
Consolidated net income	197.1	238.6	11.2	686.7
Less: Net income attributable to noncontrolling interests	22.7	22.7	54.3	59.1
Net income (loss) attributable to Lear	$ 174.4	$ 215.9	$ (43.1)	$ 627.6
Basic net income (loss) per share available to Lear common stockholders (Note 14)	$ 2.90	$ 3.59	$ (0.72)	$ 10.27
Diluted net income (loss) per share available to Lear common stockholders (Note 14)	$ 2.89	3.58	(0.72)	10.23
Cash dividends declared per share		$ 0.75	$ 0.77	$ 2.25
Average common shares outstanding	60,159,356	61,133,723	60,260,886	62,042,156
Average diluted shares outstanding	60,330,941	61,330,086	60,260,886	62,262,903
Consolidated comprehensive income (loss) (Condensed Consolidated Statements of Equity)	$ 290.7	$ 96.1	$ (49.2)	$ 552.7
Less: Comprehensive income attributable to noncontrolling interests	33.0	11.3	60.9	48.6
Comprehensive income (loss) attributable to Lear	$ 257.7	$ 84.8	$ (110.1)	$ 504.1

Condensed Consolidated Statements of Equity - USD ($) $ in Millions	Total	Cumulative Effect, Period of Adoption, Adjustment	Common Stock	Additional Paid-In Capital	Common Stock Held in Treasury	Retained Earnings	Retained Earnings Cumulative Effect, Period of Adoption, Adjustment	Accumulated Other Comprehensive Loss, Net of Tax	Lear Corporation Stockholders' Equity	Lear Corporation Stockholders' Equity Cumulative Effect, Period of Adoption, Adjustment	Non-controlling Interests	Redeemable Non-controlling Interests
Balance at beginning of period at Dec. 31, 2018	$ 4,360.6		$ 0.6	$ 1,017.4	$ (225.1)	$ 4,113.6		$ (705.8)	$ 4,200.7		$ 159.9
Comprehensive income (loss):
Net income (loss)	683.7					627.6			627.6		56.1
Other comprehensive income (loss)	(128.8)							(123.5)	(123.5)		(5.3)
Total comprehensive income (loss)	554.9					627.6		(123.5)	504.1		50.8
Stock-based compensation	16.0			16.0					16.0
Net issuance of shares held in treasury in settlement of stock-based compensation	(30.7)			(70.3)	41.5	(1.9)			(30.7)
Repurchase of shares of common stock	(355.4)				(355.4)				(355.4)
Dividends declared to Lear Corporation stockholders	(140.3)					(140.3)			(140.3)
Dividends declared to non-controlling interest holders	(33.6)										(33.6)
Change in noncontrolling interests	(5.6)										(5.6)
Redeemable non-controlling interest adjustment	9.4					9.4			9.4
Acquisition of outstanding noncontrolling interest	(0.2)										(0.2)
Balance at end of period at Sep. 28, 2019	4,375.1		0.6	963.1	(539.0)	4,608.4		(829.3)	4,203.8		171.3
Balance at beginning of period at Dec. 31, 2018												$ 158.1
Comprehensive income (loss):
Net income (loss)												3.0
Other comprehensive income (loss)												(5.2)
Total comprehensive income (loss)												(2.2)
Balance at end of period at Sep. 28, 2019												146.5
Comprehensive income (loss):
Redeemable non-controlling interest												(9.4)
Balance at beginning of period at Jun. 29, 2019	4,399.5		0.6	965.3	(466.6)	4,435.3		(698.2)	4,236.4		163.1
Comprehensive income (loss):
Net income (loss)	237.9					215.9			215.9		22.0
Other comprehensive income (loss)	(136.9)							(131.1)	(131.1)		(5.8)
Total comprehensive income (loss)	101.0					215.9		(131.1)	84.8		16.2
Stock-based compensation	1.7			1.7					1.7
Net issuance of shares held in treasury in settlement of stock-based compensation	(1.1)			(3.9)	3.5	(0.7)			(1.1)
Repurchase of shares of common stock	(75.9)				(75.9)				(75.9)
Dividends declared to Lear Corporation stockholders	(45.7)					(45.7)			(45.7)
Dividends declared to non-controlling interest holders	(2.4)										(2.4)
Change in noncontrolling interests	(5.6)										(5.6)
Redeemable non-controlling interest adjustment	3.6					3.6			3.6
Balance at end of period at Sep. 28, 2019	4,375.1		0.6	963.1	(539.0)	4,608.4		(829.3)	4,203.8		171.3
Balance at beginning of period at Jun. 29, 2019												155.0
Comprehensive income (loss):
Net income (loss)												0.7
Other comprehensive income (loss)												(5.6)
Total comprehensive income (loss)												(4.9)
Balance at end of period at Sep. 28, 2019												146.5
Comprehensive income (loss):
Redeemable non-controlling interest												(3.6)
Balance at beginning of period at Dec. 31, 2019	4,501.1	$ (0.8)	0.6	969.1	(563.1)	4,715.8	$ (0.8)	(772.7)	4,349.7	$ (0.8)	151.4
Comprehensive income (loss):
Net income (loss)	14.4					(43.1)			(43.1)		57.5
Other comprehensive income (loss)	(63.4)							(67.0)	(67.0)		3.6
Total comprehensive income (loss)	$ (49.0)					$ (43.1)		(67.0)	$ (110.1)		61.1
Accounting Standards Update [Extensible List]	us-gaap:AccountingStandardsUpdate201613Member					us-gaap:AccountingStandardsUpdate201613Member			us-gaap:AccountingStandardsUpdate201613Member
Stock-based compensation	$ 25.5			25.5					$ 25.5
Net issuance of shares held in treasury in settlement of stock-based compensation	(13.6)			(37.1)	26.8	$ (3.3)			(13.6)
Repurchase of shares of common stock	(70.0)				(70.0)				(70.0)
Dividends declared to Lear Corporation stockholders	(46.8)					(46.8)			(46.8)
Dividends declared to non-controlling interest holders	(69.2)										(69.2)
Redeemable non-controlling interest adjustment	(1.1)					(1.1)			(1.1)
Balance at end of period at Oct. 03, 2020	4,276.1		0.6	957.5	(606.3)	4,620.7		(839.7)	4,132.8		143.3
Balance at beginning of period at Dec. 31, 2019	118.4											118.4
Comprehensive income (loss):
Net income (loss)												(3.2)
Other comprehensive income (loss)												3.0
Total comprehensive income (loss)												(0.2)
Balance at end of period at Oct. 03, 2020	119.3											119.3
Comprehensive income (loss):
Redeemable non-controlling interest												1.1
Balance at beginning of period at Jul. 04, 2020	3,983.2		0.6	955.6	(612.6)	4,447.1		(923.0)	3,867.7		115.5
Comprehensive income (loss):
Net income (loss)	196.8					174.4			174.4		22.4
Other comprehensive income (loss)	88.9							83.3	83.3		5.6
Total comprehensive income (loss)	$ 285.7					174.4		83.3	257.7		28.0
Accounting Standards Update [Extensible List]	us-gaap:AccountingStandardsUpdate201613Member
Stock-based compensation	$ 9.1			9.1					9.1
Net issuance of shares held in treasury in settlement of stock-based compensation	(1.7)			(7.2)	6.3	(0.8)			(1.7)
Dividends declared to non-controlling interest holders	(0.2)										(0.2)
Balance at end of period at Oct. 03, 2020	4,276.1		$ 0.6	$ 957.5	$ (606.3)	$ 4,620.7		$ (839.7)	$ 4,132.8		$ 143.3
Balance at beginning of period at Jul. 04, 2020												114.3
Comprehensive income (loss):
Net income (loss)												0.3
Other comprehensive income (loss)												4.7
Total comprehensive income (loss)												5.0
Balance at end of period at Oct. 03, 2020	$ 119.3											$ 119.3

Condensed Consolidated Statements of Equity (Parenthetical) - $ / shares	3 Months Ended		9 Months Ended
	Oct. 03, 2020	Sep. 28, 2019	Oct. 03, 2020	Sep. 28, 2019
Statement Of Stockholders Equity [Abstract]
Net issuances of shares held in treasury in settlement of stock-based compensation (in shares)	45,531	23,726	190,978	308,538
Number of shares repurchased (in shares)		616,635	641,149	2,603,881
Average price (in dollars per share)		$ 123.06	$ 109.22	$ 136.48

Condensed Consolidated Statements of Cash Flows - USD ($) $ in Millions	9 Months Ended
	Oct. 03, 2020	Sep. 28, 2019
Cash Flows from Operating Activities:
Consolidated net income	$ 11.2	$ 686.7
Adjustments to reconcile consolidated net income to net cash provided by operating activities:
Depreciation and amortization	397.1	380.4
Net change in recoverable customer engineering, development and tooling	(63.4)	(73.4)
Net change in working capital items (see below)	(138.1)	(162.0)
Loss on extinguishment of debt	21.1	10.6
Other, net	34.4	(43.0)
Net cash provided by operating activities	262.3	799.3
Cash Flows from Investing Activities:
Additions to property, plant and equipment	(285.3)	(410.1)
Acquisition, net of acquired cash		(321.7)
Other, net	(11.8)	(7.5)
Net cash used in investing activities	(297.1)	(739.3)
Cash Flows from Financing Activities:
Revolving credit facility borrowings	1,000.0
Revolving credit facility repayments	(1,000.0)
Proceeds from the issuance of senior notes	669.1	693.3
Redemption of senior notes	(667.1)	(333.7)
Term loan repayments	(9.4)	(3.1)
Short-term borrowings (repayments), net	(14.9)	9.5
Payment of debt issuance and other financing costs	(6.9)	(6.5)
Repurchase of common stock	(70.0)	(359.7)
Dividends paid to Lear Corporation stockholders	(52.0)	(141.1)
Dividends paid to noncontrolling interests	(45.8)	(33.6)
Other, net	(14.8)	(61.6)
Net cash used in financing activities	(211.8)	(236.5)
Effect of foreign currency translation	(5.6)	(20.0)
Net Change in Cash, Cash Equivalents and Restricted Cash	(252.2)	(196.5)
Cash, Cash Equivalents and Restricted Cash as of Beginning of Period	1,510.4	1,519.8
Cash, Cash Equivalents and Restricted Cash as of End of Period	1,258.2	1,323.3
Changes in Working Capital Items:
Accounts receivable	(416.9)	(513.5)
Inventories	(13.6)	(123.5)
Accounts payable	124.0	208.8
Accrued liabilities and other	168.4	266.2
Net change in working capital items	(138.1)	(162.0)
Supplementary Disclosure:
Cash paid for interest	83.7	85.2
Cash paid for income taxes, net of refunds received	$ 85.3	$ 133.7

Basis of Presentation

9 Months Ended

Oct. 03, 2020

Accounting Policies [Abstract]

Basis of Presentation

(1) Basis of Presentation

Lear Corporation ("Lear," and together with its consolidated subsidiaries, the "Company") and its affiliates design and manufacture automotive seating and electrical distribution systems and related components. The Company’s main customers are automotive original equipment manufacturers. The Company operates facilities worldwide.

The accompanying condensed consolidated financial statements include the accounts of Lear, a Delaware corporation, and the wholly owned and less than wholly owned subsidiaries controlled by Lear. In addition, Lear consolidates all entities, including variable interest entities, in which it has a controlling financial interest. Investments in affiliates in which Lear does not have control, but does have the ability to exercise significant influence over operating and financial policies, are accounted for under the equity method.

The Company’s annual financial results are reported on a calendar year basis, and quarterly interim results are reported using a thirteen week reporting calendar.

Impact of COVID-19 Pandemic

9 Months Ended

Oct. 03, 2020

Extraordinary And Unusual Items [Abstract]

Impact of COVID-19 Pandemic

(2) Impact of COVID-19 Pandemic

Unprecedented industry disruptions related to the COVID-19 pandemic impacted operations in every region of the world. The Company's operations in China were impacted first, with most plants in the country closed for several weeks during the first quarter. At the end of the first quarter, all of the Company's facilities in China were operating and capacity utilization was increasing. Beginning in mid-March, the Company's operations in Europe, North America, South America and Asia (outside of China) were impacted, with virtually all of its plants closed at the end of the first quarter and closures continuing throughout April and, in most cases, a portion of May. Although manufacturing resumed gradually, most of the Company's plants in its major markets were operating at pre-COVID-19 levels at the end of the second quarter and throughout the third quarter. The Company experienced significant inefficiencies and incremental costs related to the COVID-19 pandemic in the first half of the year, which diminished toward the end of the second quarter. In the third quarter, the Company experienced less significant but ongoing costs related to personal protective equipment, employee transportation and higher labor costs reflecting an increase in absenteeism.

Various government programs have been enacted to provide financial relief for businesses affected by the COVID-19 pandemic. In the first nine months of 2020, the Company recognized approximately $95 million of government assistance primarily related to the reimbursement of certain employee costs. The Company recognizes such assistance as a reduction of the related costs as such costs are incurred and the Company is reasonably assured to receive payment.

Although industry production has returned to pre-COVID-19 levels, partially due to the customers' need to replenish inventory levels, it is likely that, for a period of time, the global automotive industry will experience lower demand for new vehicles as a result of the global economic slowdown caused by the COVID-19 pandemic, as new vehicle sales are typically correlated with positive consumer confidence and low unemployment. Further, a resurgence of the virus with corresponding shelter-in-place orders impacting industry production later in 2020 or in 2021 could also impact the Company's financial results.

The accompanying condensed consolidated financial statements reflect estimates and assumptions made by management as of October 3, 2020, and for the nine months then ended. Such estimates and assumptions affect, among other things, the Company's goodwill, long-lived asset and indefinite-lived intangible asset valuations; inventory valuations; assessment of the annual effective tax rate; valuation of deferred income taxes and income tax contingencies; and credit losses related to our financial instruments. Events and circumstances arising after October 3, 2020, including those resulting from the impact of the COVID-19 pandemic, will be reflected in management's estimates and assumptions in future periods.

For more information related to goodwill, see Note 7, "Goodwill," herein and Note 2, "Summary of Significant Accounting Policies — Impairment of Goodwill and Intangible Assets," to the consolidated financial statements included in the Company's Annual Report on Form 10-K for the year ended December 31, 2019. For more information related to income taxes, see Note 13, "Income Taxes," herein and Note 2, "Summary of Significant Accounting Policies — Income Taxes," to the consolidated financial statements included in the Company's Annual Report on Form 10-K for the year ended December 31, 2019.

Restructuring

9 Months Ended

Oct. 03, 2020

Restructuring And Related Activities [Abstract]

Restructuring

(3) Restructuring

Restructuring costs include employee termination benefits, asset impairment charges and contract termination costs, as well as other incremental costs resulting from the restructuring actions. Employee termination benefits are recorded based on existing union and employee contracts, statutory requirements, completed negotiations and Company policy. Other incremental costs principally include equipment and personnel relocation costs. In addition to restructuring costs, the Company incurs incremental manufacturing inefficiency costs at the operating locations impacted by the restructuring actions during the related restructuring implementation period. Restructuring costs are recognized in the Company’s condensed consolidated financial statements in accordance with GAAP. Generally, charges are recorded as restructuring actions are approved and/or implemented.

In the first nine months of 2020, the Company recorded charges of $119.3 million in connection with its restructuring actions. These charges consist of $83.0 million recorded as cost of sales, $23.4 million recorded as selling, general and administrative expenses and $12.9 million recorded as other expense, net. The restructuring charges consist of employee termination costs of $84.3 million, asset impairment charges of $14.5 million, contract termination costs of $0.9 million and a pension benefit plan settlement loss of $10.2 million, as well as other related costs of $9.4 million. Employee termination benefits were recorded based on existing union and employee contracts, statutory requirements, completed negotiations and Company policy. Asset impairment charges relate to the disposal of buildings, leasehold improvements and/or machinery and equipment with carrying values of $12.5 million in excess of related estimated fair values and the impairment of right-of-use assets of $2.0 million.

The Company expects to incur approximately $30 million of additional restructuring costs related to activities initiated as of October 3, 2020, and expects that the components of such costs will be consistent with its historical experience. Any future restructuring actions will depend upon market conditions, customer actions and other factors.

A summary of 2020 activity, excluding the pension benefit plan settlement loss of $10.2 million, is shown below (in millions):

	Accrual as of		2020		Utilization						Accrual as of
	January 1, 2020		Charges		Cash			Non-cash			October 3, 2020
Employee termination benefits	$	152.8	$	84.3	$	(104.9	)	$	-		$	132.2
Asset impairment charges		-		14.5		-			(14.5	)		-
Contract termination costs		4.9		0.9		(1.0	)		-			4.8
Other related costs		-		9.4		(9.4	)		-			-
Total	$	157.7	$	109.1	$	(115.3	)	$	(14.5	)	$	137.0

Inventories

9 Months Ended

Oct. 03, 2020

Inventory Disclosure [Abstract]

Inventories

(4) Inventories

Inventories are stated at the lower of cost or net realizable value. Cost is determined using the first-in, first-out method. Finished goods and work-in-process inventories include material, labor and manufacturing overhead costs.

A summary of inventories is shown below (in millions):

	October 3, 2020			December 31, 2019
Raw materials	$	954.7		$	906.3
Work-in-process		110.4			107.0
Finished goods		364.9			380.4
Reserves		(164.4	)		(135.5	)
Inventories	$	1,265.6		$	1,258.2

Pre-Production Costs Related to Long-Term Supply Agreements

9 Months Ended

Oct. 03, 2020

Deferred Costs Capitalized Prepaid And Other Assets Disclosure [Abstract]

Pre-Production Costs Related to Long-Term Supply Agreements

(5) Pre-Production Costs Related to Long-Term Supply Agreements

The Company incurs pre-production engineering and development ("E&D") and tooling costs related to the products produced for its customers under long-term supply agreements. The Company expenses all pre-production E&D costs for which reimbursement is not contractually guaranteed by the customer. In addition, the Company expenses all pre-production tooling costs related to customer-owned tools for which reimbursement is not contractually guaranteed by the customer or for which the Company does not have a non-cancelable right to use the tooling.

During the first nine months of 2020 and 2019, the Company capitalized $111.1 million and $174.8 million, respectively, of pre-production E&D costs for which reimbursement is contractually guaranteed by the customer. During the first nine months of 2020 and 2019, the Company also capitalized $130.2 million and $126.7 million, respectively, of pre-production tooling costs related to customer-owned tools for which reimbursement is contractually guaranteed by the customer or for which the Company has a non-cancelable right to use the tooling. These amounts are included in other current and long-term assets in the accompanying condensed consolidated balance sheets.

During the first nine months of 2020 and 2019, the Company collected $184.5 million and $243.5 million, respectively, of cash related to E&D and tooling costs.

The classification of recoverable customer E&D and tooling costs related to long-term supply agreements is shown below (in millions):

	October 3, 2020		December 31, 2019
Current	$	203.2	$	157.2
Long-term		135.6		113.8
Recoverable customer E&D and tooling	$	338.8	$	271.0

Long-Term Assets

9 Months Ended

Oct. 03, 2020

Property Plant And Equipment [Abstract]

Long-Term Assets

(6) Long-Term Assets

Property, Plant and Equipment

Property, plant and equipment is stated at cost. Costs associated with the repair and maintenance of the Company’s property, plant and equipment are expensed as incurred. Costs associated with improvements which extend the life, increase the capacity or improve the efficiency or safety of the Company’s property, plant and equipment are capitalized and depreciated over the remaining useful life of the related asset. Depreciable property is depreciated over the estimated useful lives of the assets, using principally the straight-line method.

A summary of property, plant and equipment is shown below (in millions):

	October 3, 2020			December 31, 2019
Land	$	111.9		$	113.1
Buildings and improvements		838.1			831.3
Machinery and equipment		4,124.7			3,844.1
Construction in progress		271.5			382.4
Total property, plant and equipment		5,346.2			5,170.9
Less – accumulated depreciation		(2,718.9	)		(2,466.7	)
Property, plant and equipment, net	$	2,627.3		$	2,704.2

Depreciation expense was $120.0 million and $111.8 million in the three months ended October 3, 2020 and September 28, 2019, respectively, and $347.7 million and $335.1 million in the nine months ended October 3, 2020 and September 28, 2019, respectively.

The Company monitors its long-lived assets for impairment indicators on an ongoing basis in accordance with GAAP. If impairment indicators exist, the Company performs the required impairment analysis by comparing the undiscounted cash flows expected to be generated from the long-lived assets to the related net book values. If the net book value exceeds the undiscounted cash flows, an impairment loss is measured and recognized.

In the first nine months of 2020 and 2019, the Company recognized asset impairment charges of $12.5 million and $4.0 million, respectively, in conjunction with its restructuring actions (Note 3, "Restructuring"). In the nine months ended October 3, 2020, the Company recognized additional asset impairment charges of $3.4 million. The Company will continue to assess the impact of significant industry and other events on the realization of its long-lived assets.

Investment in Affiliates

In July 2019, the Company deconsolidated Guangzhou Automobile Group Component Co., Ltd ("GACC") as it no longer controls this entity. As a result, the carrying values of the assets and liabilities of GACC are not reflected in the condensed consolidated balance sheets as of October 3, 2020 and December 31, 2019. In addition, the Company recorded a gain of $4.0 million related to the excess of the estimated fair value over the carrying value of its interest in GACC immediately prior to deconsolidation. The gain is included in other expense, net in the accompanying condensed consolidated statements of comprehensive income (loss) for the three and nine months ended September 28, 2019.

Goodwill

9 Months Ended

Oct. 03, 2020

Goodwill And Intangible Assets Disclosure [Abstract]

Goodwill

(7) Goodwill

A summary of the changes in the carrying amount of goodwill, by operating segment, in the nine months ended October 3, 2020, is shown below (in millions):

	Seating		E-Systems		Total
Balance at January 1, 2020	$	1,235.4	$	378.9	$	1,614.3
Foreign currency translation and other		11.2		3.5		14.7
Balance at October 3, 2020	$	1,246.6	$	382.4	$	1,629.0

Goodwill is not amortized but is tested for impairment on at least an annual basis. Impairment testing is required more often than annually if an event or circumstance indicates that an impairment is more likely than not to have occurred. In conducting its annual impairment testing, the Company may first perform a qualitative assessment of whether it is more likely than not that a reporting unit’s fair value is less than its carrying amount. If not, no further goodwill impairment testing is required. If it is more likely than not that a reporting unit’s fair value is less than its carrying amount, or if the Company elects not to perform a qualitative assessment of a reporting unit, the Company then compares the fair value of the reporting unit to the related net book value. If the net book value of a reporting unit exceeds its fair value, an impairment loss is recognized in an amount equal to that excess, limited to the total amount of goodwill recorded. The Company conducts its annual impairment testing as of the first day of its fourth quarter.

During the first quarter of 2020, an interim goodwill impairment analysis related to one of the Company’s reporting units within its E-Systems operating segment was performed, largely due to industry disruptions resulting from the COVID-19 pandemic. The goodwill impairment analysis reflected the Company’s best estimates of the COVID-19 pandemic’s ultimate impact on industry conditions, including consumer demand, as well as economic recovery. The results of the quantitative analysis indicated that the fair value of the reporting unit exceeded the related carrying value. During the third quarter of 2020, the Company determined that it was not more likely than not that this reporting unit was impaired.

There was no impairment of goodwill in the first nine months of 2020 and 2019. The Company will, however, continue to assess the impact of significant industry and other events on its recorded goodwill.

Debt

9 Months Ended

Oct. 03, 2020

Debt Disclosure [Abstract]

Debt

(8) Debt

A summary of long-term debt, net of unamortized debt issuance costs and unamortized original issue premium (discount), and the related weighted average interest rates is shown below (in millions):

	October 3, 2020
			Unamortized			Unamortized						Weighted
	Long-Term		Debt			Original Issue			Long-Term			Average
Debt Instrument	Debt		Issuance Costs			Premium (Discount)			Debt, Net			Interest Rate
Credit Agreement — Term Loan Facility	$	225.0	$	(0.7	)	$	-		$	224.3		1.360%
3.8% Senior Notes due 2027 (the "2027 Notes")		750.0		(4.2	)		(3.7	)		742.1		3.885%
4.25% Senior Notes due 2029 (the "2029 Notes")		375.0		(2.7	)		(1.0	)		371.3		4.288%
3.5% Senior Notes due 2030 (the "2030 Notes")		350.0		(2.7	)		(0.7	)		346.6		3.525%
5.25% Senior Notes due 2049 (the "2049 Notes")		625.0		(6.3	)		14.3			633.0		5.103%
Other		1.4		-			-			1.4		N/A
	$	2,326.4	$	(16.6	)	$	8.9			2,318.7
Less — Current portion										(18.9	)
Long-term debt									$	2,299.8

	December 31, 2019
			Unamortized			Unamortized						Weighted
	Long-Term		Debt			Original Issue			Long-Term			Average
Debt Instrument	Debt		Issuance Costs			Discount			Debt, Net			Interest Rate
Credit Agreement — Term Loan Facility	$	234.4	$	(1.0	)	$	-		$	233.4		2.880%
5.25% Senior Notes due 2025 (the "2025 Notes")		650.0		(4.2	)		-			645.8		5.250%
2027 Notes		750.0		(4.7	)		(4.1	)		741.2		3.885%
2029 Notes		375.0		(2.9	)		(1.1	)		371.0		4.288%
2049 Notes issued 2019		325.0		(3.3	)		(5.3	)		316.4		5.363%
	$	2,334.4	$	(16.1	)	$	(10.5	)		2,307.8
Less — Current portion										(14.1	)
Long-term debt									$	2,293.7

Senior Notes

The issuance, maturity and interest payment dates of the Company's senior unsecured 2027 Notes, 2029 Notes, 2030 Notes and 2049 Notes (together, the "Notes") are shown below:

Note	Issuance Date(s)	Maturity Date	Interest Payment Dates
2027 Notes	August 2017	September 15, 2027	March 15 and September 15
2029 Notes	May 2019	May 15, 2029	May 15 and November 15
2030 Notes	February 2020	May 30, 2030	May 30 and November 30
2049 Notes	May 2019 and February 2020	May 15, 2049	May 15 and November 15

In February 2020, the Company issued $350.0 million in aggregate principal amount at maturity of 2030 Notes and an additional $300.0 million in aggregate principal amount at maturity of 2049 Notes. The 2030 Notes have a stated coupon rate of 3.5% and were issued at 99.774% of par, resulting in a yield to maturity of 3.525%. The 2049 Notes have a stated coupon rate of 5.25% and were issued at 106.626% of par, resulting in a yield to maturity of 4.821%.

The net proceeds from the offering were $669.1 million after original issue discount. The proceeds were used to redeem the $650.0 million in aggregate principal amount of 2025 Notes at a redemption price equal to 102.625% of the principal amount of such 2025 Notes, plus accrued interest.

In connection with these transactions, the Company recognized a loss of $21.1 million on the extinguishment of debt and paid related issuance costs of $5.9 million in the nine months ended October 3, 2020.

Covenants

Subject to certain exceptions, the indentures governing the Notes contain certain investment-grade style restrictive covenants that, among other things, limit the ability of the Company to: (i) create or permit certain liens and (ii) consolidate, merge or sell all or substantially all of the Company’s assets. The indentures governing the Notes also provide for customary events of default.

As of October 3, 2020, the Company was in compliance with all covenants under the indentures governing the Notes.

Credit Agreement

The Company's unsecured credit agreement (the "Credit Agreement"), dated August 8, 2017, consists of a $1.75 billion revolving credit facility (the "Revolving Credit Facility") and a $250.0 million term loan facility (the "Term Loan Facility"). In February 2020, the Company entered into an agreement to extend the maturity date of the Revolving Credit Facility by one year to August 8, 2024. The maturity date of the Term Loan Facility remains August 8, 2022.

In connection with the extension agreement, the Company paid related issuance costs of $1.0 million.

As of October 3, 2020 and December 31, 2019, there were no borrowings outstanding under the Revolving Credit Facility. As of October 3, 2020 and December 31, 2019, there were $225.0 million and $234.4 million, respectively, of borrowings outstanding under the Term Loan Facility.

In March 2020, as a proactive measure in response to the COVID-19 pandemic, the Company borrowed $1.0 billion under the Revolving Credit Facility, which was repaid in full in September 2020.

In the first nine months of 2020, the Company made required principal payments of $9.4 million under the Term Loan Facility.

Advances under the Revolving Credit Facility and the Term Loan Facility generally bear interest based on (i) the Eurocurrency Rate (as defined in the Credit Agreement) or (ii) the Base Rate (as defined in the Credit Agreement) plus a margin, determined in accordance with a pricing grid. The range and the rate as of October 3, 2020, are shown below (in percentages):

	Eurocurrency Rate									Base Rate
							Rate as of									Rate as of
	Minimum			Maximum			October 3, 2020			Minimum			Maximum			October 3, 2020
Revolving Credit Facility		1.00	%		1.60	%		1.10	%		0.00	%		0.60	%		0.10	%
Term Loan Facility		1.125	%		1.90	%		1.25	%		0.125	%		0.90	%		0.25	%

A facility fee, which ranges from 0.125% to 0.30% of the total amount committed under the Revolving Credit Facility, is payable quarterly.

Covenants

The Credit Agreement contains various customary representations, warranties and covenants by the Company, including, without limitation, (i) covenants regarding maximum leverage, (ii) limitations on fundamental changes involving the Company or its subsidiaries and (iii) limitations on indebtedness and liens.

As of October 3, 2020, the Company was in compliance with all covenants under the Credit Agreement.

Other

As of October 3, 2020, other long-term debt consists of amounts outstanding under a finance lease.

For further information related to the Company's debt, see Note 6, "Debt," to the consolidated financial statements included in the Company’s Annual Report on Form 10-K for the year ended December 31, 2019.

Leases

9 Months Ended

Oct. 03, 2020

Leases [Abstract]

Leases

(9) Leases

Right-of-Use Assets and Lease Obligations

The Company has operating leases for production, office and warehouse facilities, manufacturing and office equipment and vehicles.

Operating lease assets and obligations included in the accompanying condensed consolidated balance sheet are shown below (in millions):

	October 3, 2020		December 31, 2019
Right-of-use assets under operating leases:
Other long-term assets	$	539.4	$	527.0
Lease obligations under operating leases:
Accrued liabilities	$	113.2	$	113.9
Other long-term liabilities		439.0		422.4
	$	552.2	$	536.3

Maturities of lease obligations as of October 3, 2020, are shown below (in millions):

	October 3, 2020
2020⁽¹⁾	$	35.9
2021		129.6
2022		103.7
2023		81.6
2024		67.3
Thereafter		220.8
Total undiscounted cash flows		638.9
Less: Imputed interest		(86.7	)
Lease obligations under operating leases	$	552.2

⁽¹⁾	^{For the remaining three months}

The Company entered into one lease agreement which is expected to commence in the third quarter of 2021 with a lease term of approximately ten years. The aggregate right-of-use asset and related lease obligation are expected to be approximately $50 million.

Cash flow information related to operating leases is shown below (in millions):

	Nine Months Ended
	October 3, 2020		September 28, 2019
Non-cash activity:
Right of use assets obtained in exchange for operating lease obligations	$	116.2	$	177.1
Operating cash flows:
Cash paid related to operating lease obligations	$	106.3	$	104.0

Lease expense included in the accompanying condensed consolidated statements of comprehensive income (loss) is shown below (in millions):

	Three Months Ended				Nine Months Ended
	October 3, 2020		September 28, 2019		October 3, 2020		September 28, 2019
Operating lease expense	$	38.6	$	36.9	$	110.2	$	104.4
Short-term lease expense		3.3		3.1		11.3		12.1
Variable lease expense		2.2		1.4		5.9		3.2
Total lease expense	$	44.1	$	41.4	$	127.4	$	119.7

In the nine months ended October 3, 2020, the Company recognized an impairment charge of $2.0 million related to its right-of-use assets in conjunction with its restructuring actions (Note 3, "Restructuring").

The weighted average lease term and discount rate for operating leases are shown below:

October 3,

2020

Weighted average remaining lease term (in years)

6.9

Weighted average discount rate

3.4%

The Company entered into a finance lease agreement which is not material to the consolidated financial statements (Note 8 "Debt").

For further information related to the Company's leases, see Note 7, "Leases," to the consolidated financial statements included in the Company’s Annual Report on Form 10-K for the year ended December 31, 2019.

Pension and Other Postretirement Benefit Plans

9 Months Ended

Oct. 03, 2020

Compensation And Retirement Disclosure [Abstract]

Pension and Other Postretirement Benefit Plans

(10) Pension and Other Postretirement Benefit Plans

The Company sponsors defined benefit pension plans and other postretirement benefit plans (primarily for the continuation of medical benefits) for eligible employees in the United States and certain other countries.

Net Periodic Pension and Other Postretirement Benefit (Credit) Cost

The components of the Company’s net periodic pension benefit (credit) cost are shown below (in millions):

	Three Months Ended												Nine Months Ended
	October 3, 2020						September 28, 2019						October 3, 2020						September 28, 2019
	U.S.			Foreign			U.S.			Foreign			U.S.			Foreign			U.S.			Foreign
Service cost	$	0.1		$	1.2		$	-		$	1.5		$	0.1		$	3.6		$	-		$	4.7
Interest cost		4.1			3.1			4.6			3.7			12.3			9.2			13.9			11.0
Expected return on plan assets		(5.4	)		(4.9	)		(5.0	)		(5.2	)		(16.0	)		(14.8	)		(15.1	)		(15.6	)
Amortization of actuarial loss		0.6			1.2			0.5			1.9			1.7			3.5			1.4			5.8
Settlement loss		-			10.2			-			-			0.3			10.2			0.1			-
Net periodic benefit (credit) cost	$	(0.6	)	$	10.8		$	0.1		$	1.9		$	(1.6	)	$	11.7		$	0.3		$	5.9

The components of the Company’s net periodic other postretirement benefit (credit) cost are shown below (in millions):

	Three Months Ended										Nine Months Ended
	October 3, 2020					September 28, 2019					October 3, 2020					September 28, 2019
	U.S.			Foreign		U.S.			Foreign		U.S.			Foreign		U.S.			Foreign
Service cost	$	-		$	-	$	-		$	0.1	$	-		$	-	$	-		$	0.2
Interest cost		0.5			0.2		0.5			0.3		1.3			0.6		1.6			1.0
Amortization of actuarial gain		(0.4	)		-		(0.6	)		-		(1.2	)		-		(1.7	)		-
Amortization of prior service credit		-			-		-			-		(0.1	)		-		(0.1	)		(0.1	)
Net periodic benefit (credit) cost	$	0.1		$	0.2	$	(0.1	)	$	0.4	$	0.0		$	0.6	$	(0.2	)	$	1.1

In the three and nine months ended October 3, 2020, the Company recognized a pension benefit plan settlement loss of $10.2 million related to its restructuring actions (Note 3, "Restructuring").

Contributions

In the nine months ended October 3, 2020, employer contributions to the Company’s domestic and foreign defined benefit pension plans were $10.7 million.

At this time, the Company has elected to defer its contributions to its U.S. defined benefit pension plans to the extent possible under the Coronavirus Aid, Relief, and Economic Security Act ("CARES Act"). The Company expects contributions to its domestic and foreign defined benefit pension plans to be $10 million to $20 million in 2020.

- Definition

The entire disclosure for retirement benefits.

+ References

Reference 1: http://www.xbrl.org/2003/role/exampleRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 715
-SubTopic 20
-Section 55
-Paragraph 17
-URI http://asc.fasb.org/extlink&oid=118257860&loc=d3e4179-114921

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
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-Name Accounting Standards Codification
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-Section S99
-Paragraph 2
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+ Details

Revenue Recognition

9 Months Ended

Oct. 03, 2020

Revenue From Contract With Customer [Abstract]

Revenue Recognition

(11) Revenue Recognition

The Company enters into contracts with its customers to provide production parts generally at the beginning of a vehicle’s life cycle. Typically, these contracts do not provide for a specified quantity of products, but once entered into, the Company is often expected to fulfill its customers’ purchasing requirements for the production life of the vehicle. Many of these contracts may be terminated by the Company’s customers at any time. Historically, terminations of these contracts have been minimal. The Company receives purchase orders from its customers, which provide the commercial terms for a particular production part, including price (but not quantities). Contracts may also provide for annual price reductions over the production life of the vehicle, and prices may be adjusted on an ongoing basis to reflect changes in product content/cost and other commercial factors.

Revenue is recognized at a point in time when control of the product is transferred to the customer under standard commercial terms, as the Company does not have an enforceable right to payment prior to such transfer. The amount of revenue recognized reflects the consideration that the Company expects to be entitled to in exchange for those products based on the annual purchase orders, annual price reductions and ongoing price adjustments. In the first nine months of 2020, revenue recognized related to prior years represented approximately 1% of consolidated net sales. The Company's customers pay for products received in accordance with payment terms that are customary within the industry. The Company's contracts with its customers do not have significant financing components.

The Company records a contract liability for advances received from its customers. As of October 3, 2020 and December 31, 2019, there were no significant contract liabilities recorded. Further, there were no significant contract liabilities recognized in revenue during the first nine months of 2020.

Amounts billed to customers related to shipping and handling costs are included in net sales in the condensed consolidated statements of comprehensive income (loss). Shipping and handling costs are accounted for as fulfillment costs and are included in cost of sales in the condensed consolidated statements of comprehensive income (loss).

Taxes assessed by a governmental authority that are both imposed on and concurrent with a specific revenue-producing transaction that are collected by the Company from a customer are excluded from revenue.

A summary of the Company’s revenue by reportable operating segment and geography is shown below (in millions):

	Three Months Ended
	October 3, 2020						September 28, 2019
	Seating		E-Systems		Total		Seating		E-Systems		Total
North America	$	1,706.2	$	333.5	$	2,039.7	$	1,626.5	$	250.5	$	1,877.0
Europe and Africa		1,214.0		491.1		1,705.1		1,291.2		495.7		1,786.9
Asia		661.1		343.3		1,004.4		667.6		312.7		980.3
South America		110.3		40.6		150.9		129.7		51.1		180.8
	$	3,691.6	$	1,208.5	$	4,900.1	$	3,715.0	$	1,110.0	$	4,825.0

	Nine Months Ended
	October 3, 2020						September 28, 2019
	Seating		E-Systems		Total		Seating		E-Systems		Total
North America	$	3,894.7	$	766.1	$	4,660.8	$	4,815.5	$	810.0	$	5,625.5
Europe and Africa		3,000.1		1,281.2		4,281.3		4,307.0		1,650.7		5,957.7
Asia		1,676.4		845.2		2,521.6		1,978.2		923.6		2,901.8
South America		241.9		96.7		338.6		367.4		140.3		507.7
	$	8,813.1	$	2,989.2	$	11,802.3	$	11,468.1	$	3,524.6	$	14,992.7

- Definition

The entire disclosure of revenue from contract with customer to transfer good or service and to transfer nonfinancial asset. Includes, but is not limited to, disaggregation of revenue, credit loss recognized from contract with customer, judgment and change in judgment related to contract with customer, and asset recognized from cost incurred to obtain or fulfill contract with customer. Excludes insurance and lease contracts.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
-URI http://asc.fasb.org/topic&trid=49130388

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
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Reference 10: http://www.xbrl.org/2003/role/disclosureRef
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+ Details

Other Expense, Net

9 Months Ended

Oct. 03, 2020

Other Income And Expenses [Abstract]

Other Expense, Net

(12) Other Expense, Net

Other expense, net includes non-income related taxes, foreign exchange gains and losses, gains and losses related to certain derivative instruments and hedging activities, losses on the extinguishment of debt, gains and losses on the disposal of fixed assets, gains and losses on the consolidation and deconsolidation of affiliates, the non-service cost components of net periodic benefit cost and other miscellaneous income and expense.

A summary of other expense, net is shown below (in millions):

	Three Months Ended						Nine Months Ended
	October 3, 2020			September 28, 2019			October 3, 2020			September 28, 2019
Other expense	$	20.3		$	13.7		$	61.2		$	41.7
Other income		(3.2	)		(4.0	)		(6.8	)		(13.8	)
Other expense, net	$	17.1		$	9.7		$	54.4		$	27.9

In the three months and nine months ended October 3, 2020, other expense includes net foreign currency transaction losses of $5.5 million and $22.2 million, respectively, and a pension settlement loss of $10.2 million (Note 10, "Pension and Other Postretirement Benefit Plans"). In the nine months ended October 3, 2020, other expense also includes a loss of $21.1 million on the extinguishment of debt (Note 8, "Debt").

In the three and nine months ended September 28, 2019, other expense includes net foreign currency transaction losses of $9.3 million and $16.5 million, respectively, and other income includes a gain of $4.0 million related to the deconsolidation of an affiliate (Note 6, "Long-Term Assets"). In the nine months ended September 28, 2019, other expense also includes a loss of $10.6 million on the extinguishment of debt.

Income Taxes

9 Months Ended

Oct. 03, 2020

Income Tax Disclosure [Abstract]

Income Taxes

(13) Income Taxes

For the nine months ended October 3, 2020, the Company estimated its annual effective tax rate utilizing the annualized effective tax rate method under Accounting Standards Codification ("ASC") 740, "Income Taxes," to calculate its interim income tax provision. In the first and second quarters of 2020, the Company utilized the discrete effective tax rate method, as allowed under ASC 740, to calculate its interim income tax provision because it was not possible to reliably estimate the annual effective tax rate for the year due to uncertainty created by the COVID-19 pandemic.

A summary of the provision for income taxes and the corresponding effective tax rate for the three and nine months ended October 3, 2020 and September 28, 2019, is shown below (in millions, except effective tax rates):

	Three Months Ended						Nine Months Ended
	October 3, 2020			September 28, 2019			October 3, 2020			September 28, 2019
Provision for income taxes	$	44.6		$	33.5		$	30.1		$	149.9
Pretax income before equity in net income of affiliates	$	235.2		$	267.0		$	25.4		$	820.8
Effective tax rate		19.0	%		12.5	%		118.5	%		18.3	%

The Company’s provision for income taxes is impacted by the level and mix of earnings among tax jurisdictions. In the first nine months of 2020, pretax income before equity in net income of affiliates was significantly lower than in the first nine months of 2019, primarily due to the COVID-19 pandemic, and as a result, relatively small changes in the provision for income taxes in 2020 can cause disproportionate changes in the effective tax rate as compared to 2019. The higher effective tax rate in the first nine months of 2020, as compared to the first nine months of 2019, was also due to the net discrete tax expense and lower tax benefit on the Company’s restructuring charges and various other items in 2020.

The Company’s discrete tax benefit (expense) on significant items is shown below (in millions):

	Nine Months Ended
	October 3, 2020			September 28, 2019
Restructuring charges and various other items	$	20.7		$	35.7
Valuation allowances on deferred tax assets		(12.2	)		(10.4	)
Share-based compensation		-			3.1
Change in tax status of certain affiliates		-			18.4
Research and development tax credits		5.0			28.6
	$	13.5		$	75.4

The Company’s current and future provision for income taxes is impacted by the initial recognition of and changes in valuation allowances in certain countries. The Company intends to maintain these allowances until it is more likely than not that the deferred tax assets will be realized. The Company’s future provision for income taxes will include no tax benefit with respect to losses incurred and, except for certain jurisdictions, no tax expense with respect to income generated in these countries until the respective valuation allowances are eliminated. Accordingly, income taxes are impacted by changes in valuation allowances and the mix of earnings among

jurisdictions. The Company evaluates the realizability of its deferred tax assets on a quarterly basis. In completing this evaluation, the Company considers all available evidence in order to determine whether, based on the weight of the evidence, a valuation allowance for its deferred tax assets is necessary. Such evidence includes historical results, future reversals of existing taxable temporary differences and expectations for future taxable income (exclusive of the reversal of temporary differences and carryforwards), as well as the implementation of feasible and prudent tax planning strategies. If, based on the weight of the evidence, it is more likely than not that all or a portion of the Company’s deferred tax assets will not be realized, a valuation allowance is recorded. If operating results improve or decline on a continual basis in a particular jurisdiction, the Company’s decision regarding the need for a valuation allowance could change, resulting in either the initial recognition or reversal of a valuation allowance in that jurisdiction, which could have a significant impact on income tax expense in the period recognized and subsequent periods. In determining the provision for income taxes for financial statement purposes, the Company makes certain estimates and judgments, which affect its evaluation of the carrying value of its deferred tax assets, as well as its calculation of certain tax liabilities.

For further information related to the Company's income taxes, see Note 8, "Income Taxes," to the consolidated financial statements included in the Company’s Annual Report on Form 10-K for the year ended December 31, 2019.

- Definition

The entire disclosure for income taxes. Disclosures may include net deferred tax liability or asset recognized in an enterprise's statement of financial position, net change during the year in the total valuation allowance, approximate tax effect of each type of temporary difference and carryforward that gives rise to a significant portion of deferred tax liabilities and deferred tax assets, utilization of a tax carryback, and tax uncertainties information.

+ References + Details

Net Income (Loss) Per Share Attributable to Lear

9 Months Ended

Oct. 03, 2020

Earnings Per Share [Abstract]

Net Income (Loss) Per Share Attributable to Lear

(14) Net Income (Loss) Per Share Attributable to Lear

Basic net income (loss) per share available to Lear common stockholders is computed using the two-class method by dividing net income (loss) attributable to Lear, after deducting the redemption adjustment related to the redeemable noncontrolling interest, by the average number of common shares outstanding during the period. Common shares issuable upon the satisfaction of certain conditions pursuant to a contractual agreement are considered common shares outstanding and are included in the computation of basic net income (loss) per share available to Lear common stockholders.

Diluted net income per share available to Lear common stockholders is computed using the two-class method by dividing net income attributable to Lear, after deducting the redemption adjustment related to the redeemable noncontrolling interest, by the average number of common shares outstanding, including the dilutive effect of common stock equivalents computed using the treasury stock method and the average share price during the period. The computation of diluted net loss per share available to Lear common stockholders excludes the effect of common stock equivalents as such effect would be anti-dilutive.

A summary of information used to compute basic and diluted net income (loss) per share available to Lear common stockholders is shown below (in millions, except share and per share data):

	Three Months Ended				Nine Months Ended
	October 3, 2020		September 28, 2019		October 3, 2020			September 28, 2019
Net income (loss) attributable to Lear	$	174.4	$	215.9	$	(43.1	)	$	627.6
Redeemable noncontrolling interest adjustment		-		3.6		-			9.4
Net income (loss) available to Lear common stockholders	$	174.4	$	219.5	$	(43.1	)	$	637.0

Average common shares outstanding		60,159,356		61,133,723		60,260,886			62,042,156
Dilutive effect of common stock equivalents		171,585		196,363		-			220,747
Average diluted shares outstanding		60,330,941		61,330,086		60,260,886			62,262,903

Basic net income (loss) per share available to Lear common stockholders	$	2.90	$	3.59	$	(0.72	)	$	10.27

Diluted net income (loss) per share available to Lear common stockholders	$	2.89	$	3.58	$	(0.72	)	$	10.23

For further information related to the redeemable noncontrolling interest adjustment, see Note 15, "Comprehensive Income (Loss) and Equity."

Comprehensive Income (Loss) and Equity

9 Months Ended

Oct. 03, 2020

Equity [Abstract]

Comprehensive Income (Loss) and Equity

(15) Comprehensive Income (Loss) and Equity

Comprehensive Income (Loss)

Comprehensive income (loss) is defined as all changes in the Company’s net assets except changes resulting from transactions with stockholders. It differs from net income (loss) in that certain items recorded in equity are included in comprehensive income (loss).

Accumulated Other Comprehensive Loss

A summary of changes, net of tax, in accumulated other comprehensive loss for the three and nine months ended October 3, 2020, is shown below (in millions):

	Three Months Ended October 3, 2020			Nine Months Ended October 3, 2020
Defined benefit plans:
Balance at beginning of period	$	(211.7	)	$	(217.6	)
Reclassification adjustments (net of tax expense of $0.6 million and $1.3 million in the three and nine months ended October 3, 2020, respectively)		11.0			13.1
Other comprehensive loss recognized during the period (net of tax benefit of $5.4 million in the three and nine months ended October 3, 2020)		(29.7	)		(25.9	)
Balance at end of period	$	(230.4	)	$	(230.4	)
Derivative instruments and hedging:
Balance at beginning of period	$	(50.4	)	$	9.8
Reclassification adjustments (net of tax expense of $0.1 million and $1.8 million in the three and nine months ended October 3, 2020, respectively)		3.9			9.2
Other comprehensive income (loss) recognized during the period (net of tax benefit (expense) of ($6.3) million and $9.6 million in the three and nine months ended October 3, 2020, respectively)		14.8			(50.7	)
Balance at end of period	$	(31.7	)	$	(31.7	)
Foreign currency translation:
Balance at beginning of period	$	(660.9	)	$	(564.9	)
Other comprehensive income (loss) recognized during the period (net of tax benefit of $2.9 million and $0.7 million in the three and nine months ended October 3, 2020, respectively)		83.3			(12.7	)
Balance at end of period	$	(577.6	)	$	(577.6	)

Total accumulated other comprehensive loss	$	(839.7	)	$	(839.7	)

In the three months ended October 3, 2020, foreign currency translation adjustments are primarily related to the strengthening of the Euro and the Chinese renminbi, partially offset by the weakening of the Brazilian real, relative to the U.S. dollar. In the nine months ended October 3, 2020, foreign currency translation adjustments are primarily related to the weakening of the Brazilian real, largely offset by the strengthening of the Euro and the Chinese renminbi, relative to the U.S. dollar.

In the three and nine months ended October 3, 2020, foreign currency translation adjustments include pretax (gains) losses of ($0.5) million and $0.5 million, respectively, related to intercompany transactions for which settlement is not planned or anticipated in the foreseeable future.

A summary of changes, net of tax, in accumulated other comprehensive loss for the three and nine months ended September 28, 2019, is shown below (in millions):

	Three Months Ended September 28, 2019			Nine Months Ended September 28, 2019
Defined benefit plans:
Balance at beginning of period	$	(173.9	)	$	(172.8	)
Reclassification adjustments (net of tax expense of $0.4 million and $0.8 million in the three and nine months ended September 28, 2019, respectively)		1.5			4.7
Other comprehensive loss recognized during the period (net of tax benefit of $1.6 million in the three and nine months ended September 28, 2019)		(4.6	)		(8.9	)
Balance at end of period	$	(177.0	)	$	(177.0	)
Derivative instruments and hedging:
Balance at beginning of period	$	(1.2	)	$	(9.7	)
Reclassification adjustments (net of tax benefit of $2.4 million and $7.2 million in the three and nine months ended September 28, 2019, respectively)		(8.4	)		(25.5	)
Other comprehensive income (loss) recognized during the period (net of tax benefit (expense) of $1.1 million and ($6.2) million in the three and nine months ended September 28, 2019, respectively)		(3.9	)		21.7
Balance at end of period	$	(13.5	)	$	(13.5	)
Foreign currency translation:
Balance at beginning of period	$	(523.1	)	$	(523.3	)
Other comprehensive loss recognized during the period (net of tax impact of $— million in the three and nine months ended September 28, 2019)		(115.7	)		(115.5	)
Balance at end of period	$	(638.8	)	$	(638.8	)

Total accumulated other comprehensive loss	$	(829.3	)	$	(829.3	)

In the three and nine months ended September 28, 2019, foreign currency translation adjustments are primarily related to the weakening of the Euro and the Chinese renminbi relative to the U.S. dollar and include pretax losses of $0.3 million and $0.2 million, respectively, related to intercompany transactions for which settlement is not planned or anticipated in the foreseeable future.

For further information regarding reclassification adjustments related to the Company's defined benefit plans, see Note 10, "Pension and Other Postretirement Benefit Plans." For further information regarding reclassification adjustments related to the Company's derivative and hedging activities, see Note 18, "Financial Instruments."

Lear Corporation Stockholders’ Equity

Common Stock Share Repurchase Program

In March 2020, as a proactive measure in response to the COVID-19 pandemic, the Company suspended share repurchases under its share repurchase program. Share repurchases prior to the suspension are shown below (in millions except for shares and per share amounts):

Nine Months Ended								As of
October 3, 2020								October 3, 2020
Aggregate Repurchases		Cash paid for Repurchases		Number of Shares		Average Price per Share⁽¹⁾		Remaining Purchase Authorization
$	70.0	$	70.0		641,149	$	109.22	$	1,430.0

⁽¹⁾	Excludes commissions

Since the first quarter of 2011, the Company's Board of Directors has authorized $6.1 billion in share repurchases under the common stock share repurchase program. As of the end of the third quarter of 2020, the Company has repurchased, in aggregate, $4.7 billion of its outstanding common stock, at an average price of $90.07 per share, excluding commissions and related fees.

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 will repurchase its outstanding common stock and the timing of such repurchases will depend upon its financial condition, prevailing market conditions, alternative uses of capital and other factors.

In addition to shares repurchased under the Company’s common stock share repurchase program described above, the Company classified 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 accompanying condensed consolidated balance sheets as of October 3, 2020 and December 31, 2019.

Quarterly Dividend

In March 2020, as a proactive measure in response to the COVID-19 pandemic, the Company suspended its quarterly cash dividend. Prior to the suspension, the Company’s Board of Directors declared a cash dividend of $0.77 per share of common stock in the first quarter of 2020 and quarterly cash dividends of $0.75 per share of common stock in the first nine months of 2019. Dividends declared and paid are shown below (in millions):

	Nine Months Ended
	October 3, 2020		September 28, 2019
Dividends declared	$	46.8	$	140.3
Dividends paid		52.0		141.1

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.

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. The redeemable noncontrolling interest is classified in mezzanine equity in the accompanying condensed consolidated balance sheets as of October 3, 2020 and December 31, 2019.

In the second quarter of 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 for RMB 626.0 million ($92.2 million at October 3, 2020) plus undistributed retained earnings of RMB 175.5 million ($25.8 million at October 3, 2020). The transaction is subject to regulatory approval and is expected to close in the fourth quarter of 2020. Approximately 50% of the purchase price and undistributed retained earnings is expected to be paid at closing, with remaining amounts paid in 2021.

For further information related to the redeemable noncontrolling interest adjustment, see Note 14, "Net Income (Loss) Per Share Attributable to Lear," herein, as well as Note 5, "Investments in Affiliates and Other Related Party Transactions," to the consolidated financial statements included in the Company’s Annual Report on Form 10-K for the year ended December 31, 2019.

Legal and Other Contingencies

9 Months Ended

Oct. 03, 2020

Commitments And Contingencies Disclosure [Abstract]

Legal and Other Contingencies

(16) Legal and Other Contingencies

As of October 3, 2020 and December 31, 2019, the Company had recorded reserves for pending legal disputes, including commercial disputes and other matters, of $16.3 million and $14.0 million, respectively. Such reserves reflect amounts recognized in accordance with GAAP and typically exclude the cost of legal representation. Product liability and warranty reserves are recorded separately from legal reserves, as described below.

Commercial Disputes

The Company is involved from time to time in legal proceedings and claims, including, without limitation, commercial or contractual disputes with its customers, suppliers and competitors. These disputes vary in nature and are usually resolved by negotiations between the parties.

Product Liability and Warranty Matters

In the event that use of the Company’s products results in, or is alleged to result in, bodily injury and/or property damage or other losses, the Company may be subject to product liability lawsuits and other claims. Such lawsuits generally seek compensatory damages, punitive damages and attorneys’ fees and costs. In addition, if any of the Company’s products are, or are alleged to be, defective, the Company may be required or requested by its customers to participate in a recall or other corrective action involving such products. Certain of the Company’s customers have asserted claims against the Company for costs related to recalls or other corrective actions involving its products. The Company can provide no assurances that it will not experience material claims in the future or that it will not incur significant costs to defend such claims.

To a lesser extent, the Company is a party to agreements with certain of its customers, whereby these customers may pursue claims against the Company for contribution of all or a portion of the amounts sought in connection with product liability and warranty claims.

In certain instances, allegedly defective products may be supplied by Tier 2 suppliers. The Company may seek recovery from its suppliers of materials or services included within the Company’s products that are associated with product liability and warranty claims. The Company carries insurance for certain legal matters, including product liability claims, but such coverage may be limited. The Company does not maintain insurance for product warranty or recall matters.

The Company records product warranty reserves when liability is probable and related amounts are reasonably estimable.

A summary of the changes in reserves for product liability and warranty claims for the nine months ended October 3, 2020, is shown below (in millions):

Balance at January 1, 2020	$	32.0
Expense, net (including changes in estimates)		20.1
Settlements		(7.0	)
Foreign currency translation and other		(0.4	)
Balance at October 3, 2020	$	44.7

Environmental Matters

The Company is subject to local, state, federal and foreign laws, regulations and ordinances which govern activities or operations that may have adverse environmental effects and which impose liability for clean-up costs resulting from past spills, disposals or other releases of hazardous wastes and environmental compliance. The Company’s policy is to comply with all applicable environmental laws and to maintain an environmental management program based on ISO 14001 to ensure compliance with this standard. However, the Company currently is, has been and in the future may become the subject of formal or informal enforcement actions or procedures.

As of October 3, 2020 and December 31, 2019, the Company had recorded environmental reserves of $8.8 million and $9.3 million, respectively. The Company does not believe that the environmental liabilities associated with its current and former properties will have a material adverse impact on its business, financial condition, results of operations or cash flows; however, no assurances can be given in this regard.

Other Matters

The Company is involved from time to time in various other legal proceedings and claims, including, without limitation, intellectual property matters, tax claims and employment matters. Although the outcome of any legal matter cannot be predicted with certainty, the Company does not believe that any of the other legal proceedings or claims in which the Company is currently involved, either individually or in the aggregate, will have a material adverse impact on its business, financial condition, results of operations or cash flows. However, no assurances can be given in this regard.

Although the Company records reserves for legal disputes, product liability and warranty claims and environmental and other matters in accordance with GAAP, the ultimate outcomes of these matters are inherently uncertain. Actual results may differ significantly from current estimates.

Segment Reporting

9 Months Ended

Oct. 03, 2020

Segment Reporting [Abstract]

Segment Reporting

(17) 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 and connectivity products. Key components in the Company's electrical distribution portfolio include wire harnesses, terminals and connectors and junction boxes for both internal combustion engine and electrification architectures that require management of higher voltage and power. Key components in the Company's electronic control module portfolio include body control modules, wireless receiver and transmitter technology and lighting and audio control modules, as well as products specific to electrification and connectivity trends. Electrification products include charging systems (onboard charging modules and cord set charging equipment), battery electronics (battery disconnect units, cell monitoring supervisory systems and integrated total battery control modules) and other power management modules, including converter and inverter systems. Connectivity products include gateway modules and communication modules to manage both wired and wireless networks and data in vehicles. 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, advanced research and development, corporate finance, legal, executive administration and human resources, as well as advanced engineering expenses.

Each of the Company’s operating segments reports its results from operations and makes its requests for capital expenditures directly to the chief operating decision maker. The economic performance of each operating segment is driven primarily by automotive production volumes in the geographic regions in which it operates, as well as by the success of the vehicle platforms for which it supplies products. Also, each operating segment operates in the competitive Tier 1 automotive supplier environment and is continually working with its customers to manage costs and improve quality. The Company’s production processes generally make use of hourly labor, dedicated facilities, sequential manufacturing and assembly processes and commodity raw materials.

The Company evaluates the performance of its operating segments based primarily on (i) revenues from external customers, (ii) pretax income (loss) before equity in net income of affiliates, interest expense and other (income) expense ("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 October 3, 2020
	Seating		E-Systems		Other			Consolidated
Revenues from external customers	$	3,691.6	$	1,208.5	$	-		$	4,900.1
Segment earnings⁽¹⁾		250.7		86.0		(57.9	)		278.8
Depreciation and amortization		87.8		44.8		3.7			136.3
Capital expenditures		48.8		40.2		1.1			90.1
Total assets		7,574.2		3,232.4		2,088.1			12,894.7

	Three Months Ended September 28, 2019
	Seating		E-Systems		Other			Consolidated
Revenues from external customers	$	3,715.0	$	1,110.0	$	-		$	4,825.0
Segment earnings⁽¹⁾		281.5		74.3		(55.1	)		300.7
Depreciation and amortization		82.1		42.5		3.9			128.5
Capital expenditures		86.0		59.8		5.0			150.8
Total assets		7,575.3		3,078.8		2,099.2			12,753.3

	Nine Months Ended October 3, 2020
	Seating		E-Systems		Other			Consolidated
Revenues from external customers	$	8,813.1	$	2,989.2	$	-		$	11,802.3
Segment earnings⁽¹⁾		320.4		5.0		(167.5	)		157.9
Depreciation and amortization		255.1		130.5		11.5			397.1
Capital expenditures		162.0		119.0		4.3			285.3

	Nine Months Ended September 28, 2019
	Seating		E-Systems		Other			Consolidated
Revenues from external customers	$	11,468.1	$	3,524.6	$	-		$	14,992.7
Segment earnings⁽¹⁾		817.0		287.3		(186.2	)		918.1
Depreciation and amortization		248.4		120.2		11.8			380.4
Capital expenditures		246.2		151.4		12.5			410.1

⁽¹⁾	^{See definition above}

For the three months ended October 3, 2020, segment earnings include restructuring charges of $33.6 million, $5.0 million and $0.3 million in the Seating and E-Systems segments and in the other category, respectively. For the nine months ended October 3, 2020, segment earnings include restructuring charges of $59.3 million, $46.2 million and $0.9 million in the Seating and E-Systems segments and in the other category, respectively. The Company expects to incur approximately $23 million and $7 million of additional restructuring costs in the Seating and E-Systems segments, respectively, related to activities initiated as of October 3, 2020, and expects that the components of such costs will be consistent with its historical experience.

For the three months ended September 28, 2019, segment earnings include restructuring charges of $18.2 million, $9.0 million and $0.7 million in the Seating and E-Systems segments and in the other category, respectively. For the nine months ended September 28, 2019, segment earnings include restructuring charges of $91.7 million, $26.2 million and $1.0 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				Nine Months Ended
	October 3, 2020		September 28, 2019		October 3, 2020		September 28, 2019
Segment earnings	$	278.8	$	300.7	$	157.9	$	918.1
Interest expense		26.5		24.0		78.1		69.4
Other expense, net		17.1		9.7		54.4		27.9
Consolidated income before provision for income taxes and equity in net income of affiliates	$	235.2	$	267.0	$	25.4	$	820.8

- 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://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 31
-URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e8924-108599

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 34
-URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e8981-108599

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 21
-Subparagraph (a)
-URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e8721-108599

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 40
-URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e9031-108599

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 32
-Subparagraph (f)
-URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e8933-108599

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 32
-Subparagraph (e)
-URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e8933-108599

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
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+ Details

Financial Instruments

9 Months Ended

Oct. 03, 2020

Fair Value Disclosures [Abstract]

Financial Instruments

(18) Financial Instruments

Debt Instruments

The carrying values of the Notes vary from their fair values. The fair values of the Notes were determined by reference to the quoted market prices of these securities (Level 2 input based on the GAAP fair value hierarchy). The carrying value of the Company’s Term Loan Facility approximates its fair value (Level 3 input based on the GAAP fair value hierarchy).

The estimated fair value, as well as the carrying value, of the Company's debt instruments are shown below (in millions):

October 3,

2020

December 31,

2019

Estimated aggregate fair value⁽¹⁾

2,454.4

2,384.6

Aggregate carrying value ^{(1) (2)}

2,325.0

2,334.4

⁽¹⁾	Includes Term Loan Facility and Notes (excludes "other" debt)

⁽²⁾	Excludes the impact of unamortized debt issuance costs and unamortized original issue premium (discount)

Cash, Cash Equivalents and Restricted Cash

The Company has on deposit, cash that is legally restricted as to use or withdrawal.

A reconciliation of cash, cash equivalents and restricted cash reported on the accompanying condensed consolidated balance sheets to cash, cash equivalents and restricted cash reported on the accompanying condensed consolidated statements of cash flows is shown below (in millions):

	October 3, 2020		September 28, 2019
Balance sheet - cash and cash equivalents	$	1,250.4	$	1,300.9
Restricted cash included in other current assets		5.1		15.6
Restricted cash included in other long-term assets		2.7		6.8
Statement of cash flows - cash, cash equivalents and restricted cash	$	1,258.2	$	1,323.3

Accounts Receivable

On January 1, 2020, the Company adopted Accounting Standards Update ("ASU") 2016-13, "Financial Instruments — Credit Losses (Topic 326), Measurement of Credit Losses on Financial Instruments," using a modified retrospective approach. The standard amends several aspects of the measurement of credit losses related to certain financial instruments, including the replacement of the existing incurred credit loss model and other models with the current expected credit losses ("CECL") model. The cumulative effect of adoption resulted in an increase of $0.8 million in the allowance for credit loss and a corresponding decrease in retained earnings as of January 1, 2020.

The Company’s allowance for credit losses on financial assets measured at amortized cost, primarily accounts receivable, reflects management’s estimate of credit losses over the remaining expected life of such assets, measured primarily using historical experience, as well as current conditions and forecasts that affect the collectability of the reported amount. Expected credit losses for newly recognized financial assets, as well as changes to expected credit losses during the period, are recognized in earnings. The Company also considers geographic and segment specific risk factors in the development of expected credit losses. As of October 3, 2020 and December 31, 2019, accounts receivable are reflected net of reserves of $34.4 million and $36.0 million, respectively. Changes in expected credit losses were not significant in the first nine months of 2020.

Accounts Receivable Factoring

During the second quarter of 2020, the Company entered into an uncommitted factoring arrangement which provides for aggregate purchases of specified customer accounts in North America. The factoring arrangement results in true sales of the factored receivables, which are excluded from amounts reported in the consolidated balance sheets when the receivables are factored in accordance with ASC 860, "Transfers and Servicing." There were no receivables factored during the second or third quarters of 2020. The Company cannot provide any assurances that the factoring arrangement will be available or utilized in the future.

Marketable Equity Securities

Marketable equity securities, which the Company accounts for under the fair value option, are included in the accompanying condensed consolidated balance sheets as shown below (in millions):

	October 3, 2020		December 31, 2019
Current assets	$	8.9	$	17.1
Other long-term assets		41.9		42.1
	$	50.8	$	59.2

Unrealized gains and losses arising from changes in the fair value of the marketable equity securities are recognized in the condensed consolidated statements of comprehensive income (loss) as a component of other expense, net. The fair value of the marketable equity securities is determined by reference to quoted market prices in active markets (Level 1 input based on the GAAP fair value hierarchy).

Equity Securities Without Readily Determinable Fair Values

As of October 3, 2020 and December 31, 2019, investments in equity securities without readily determinable fair values of $15.2 million are included in other long-term assets in the accompanying condensed consolidated balance sheets. Such investments are valued at cost, less any impairment, and adjusted for changes resulting from observable, orderly transactions for identical or similar securities.

Derivative Instruments and Hedging Activities

The Company has used derivative financial instruments, including forwards, futures, options, swaps and other derivative contracts to reduce the effects of fluctuations in foreign exchange rates and interest rates and the resulting variability of the Company’s operating results. The Company is not a party to leveraged derivatives. The Company’s derivative financial instruments are subject to master netting arrangements that provide for the net settlement of contracts, by counterparty, in the event of default or termination. On the date that a derivative contract for a hedging instrument is entered into, the Company designates the derivative as either (1) a hedge of the exposure to changes in the fair value of a recognized asset or liability or of an unrecognized firm commitment (a fair value hedge), (2) a hedge of the exposure of a forecasted transaction or of the variability in the cash flows of a recognized asset or liability (a cash flow hedge), (3) a hedge of a net investment in a foreign operation (a net investment hedge) or (4) a contract not designated as a hedging instrument.

For a fair value hedge, the change in the fair value of the derivative is recorded in earnings and reflected in the condensed consolidated statements of comprehensive income (loss) on the same line as the gain or loss on the hedged item attributable to the hedged risk. For a cash flow hedge, the change in the fair value of the derivative is recorded in accumulated other comprehensive loss in the condensed consolidated balance sheets. When the underlying hedged transaction is realized, the gain or loss included in accumulated other comprehensive loss is recorded in earnings and reflected in the condensed consolidated statements of comprehensive income (loss) on the same line as the gain or loss on the hedged item attributable to the hedged risk. For a net investment hedge, the change in the fair value of the derivative is recorded in cumulative translation adjustment, which is a component of accumulated other comprehensive loss in the condensed consolidated balance sheets. When the related currency translation adjustment is required to be reclassified, usually upon sale or liquidation of the investment, the gain or loss included in accumulated other comprehensive loss is recorded in

earnings. Changes in the fair value of contracts not designated as hedging instruments are recorded in earnings and reflected in the condensed consolidated statements of comprehensive income (loss) as other expense, net. Cash flows attributable to derivatives used to manage foreign currency risks are classified on the same line as the hedged item attributable to the hedged risk in the condensed consolidated statements of cash flows. Upon settlement, cash flows attributable to derivatives designated as net investment hedges are classified as investing activities in the consolidated statements of cash flows. Cash flows attributable to forward starting interest rate swaps are classified as financing activities in the condensed consolidated statements of cash flows.

The Company formally documents its hedge relationships, including the identification of the hedge instruments and the related hedged items, as well as its risk management objectives and strategies for undertaking the hedge transaction. Derivatives are recorded at fair value in other current and long-term assets and other current and long-term liabilities in the consolidated balance sheet. The Company also formally assesses whether a derivative used in a hedge transaction is highly effective in offsetting changes in either the fair value or the cash flows of the hedged item. When it is determined that a hedged transaction is no longer probable to occur, the Company discontinues hedge accounting.

Foreign Exchange

The Company uses forwards, swaps and other derivative contracts to reduce the effects of fluctuations in foreign exchange rates on known foreign currency exposures. Gains and losses on the derivative instruments are intended to offset gains and losses on the hedged transaction in an effort to reduce exposure to fluctuations in foreign exchange rates. The principal currencies hedged by the Company include the Mexican peso, various European currencies, the Thai baht, the Philippine peso, the Japanese yen and the Chinese renminbi.

Foreign currency derivative contracts not designated as hedging instruments consist principally of hedges of cash transactions, intercompany loans and certain other balance sheet exposures.

Net Investment Hedges

The Company uses cross-currency interest rate swaps, which are designated as net investment hedges of the foreign currency rate exposure of its investment in certain Euro-denominated subsidiaries. In the first nine months of 2020, interest expense in the accompanying consolidated statement of comprehensive income (loss) was offset by $4.9 million related to contra interest expense on these net investment hedges.

Balance Sheet Classification

The notional amount, estimated aggregate fair value and related balance sheet classification of the Company's foreign currency derivative contracts and net investment hedges are shown below (in millions, except for maturities):

	October 3, 2020			December 31, 2019
Fair value of foreign currency contracts designated as cash flow hedges:
Other current assets	$	15.0		$	44.0
Other long-term assets		5.8			7.3
Other current liabilities		(21.6	)		(4.5	)
Other long-term liabilities		(3.7	)		(0.2	)
		(4.5	)		46.6
Notional amount	$	1,225.4		$	1,465.8
Outstanding maturities in months, not to exceed		24			24
Fair value of derivatives designated as net investment hedges:
Other long-term liabilities	$	(7.9	)	$	(4.4	)
Notional amount	$	300.0		$	300.0
Outstanding maturities in months, not to exceed		48			57
Fair value of foreign currency contracts not designated as hedging instruments:
Other current assets	$	7.2		$	6.9
Other current liabilities		(5.9	)		(3.2	)
		1.3			3.7
Notional amount	$	1,728.6		$	697.0
Outstanding maturities in months, not to exceed		15			12
Total fair value	$	(11.1	)	$	45.9
Total notional amount	$	3,254.0		$	2,462.8

Accumulated Other Comprehensive Loss — Derivative Instruments and Hedging

Pretax amounts related to foreign currency, net investment hedge and interest rate swap contracts that were recognized in and reclassified from accumulated other comprehensive loss are shown below (in millions):

	Three Months Ended						Nine Months Ended
	October 3, 2020			September 28, 2019			October 3, 2020			September 28, 2019
Gains (losses) recognized in accumulated other comprehensive loss:
Foreign currency contracts	$	21.1		$	(5.0	)	$	(60.3	)	$	37.4
Net investment hedge contracts		(13.9	)		1.7			(3.5	)		1.7
Interest rate swap contracts		-			-			-			(9.5	)
		7.2			(3.3	)		(63.8	)		29.6
(Gains) losses reclassified from accumulated other comprehensive loss to:
Net sales		(0.2	)		1.3			(0.7	)		2.3
Cost of sales		3.5			(12.6	)		10.0			(35.5	)
Interest expense		0.6			0.6			1.8			0.9
Other expense, net		0.1			-			(0.1	)		-
		4.0			(10.7	)		11.0			(32.3	)
Comprehensive income (loss)	$	11.2		$	(14.0	)	$	(52.8	)	$	(2.7	)

As of October 3, 2020 and December 31, 2019, pretax net gains (losses) of ($33.4) million and $19.4 million, respectively, related to the Company’s derivative instruments and hedging activities were recorded in accumulated other comprehensive loss.

During the next twelve month period, net losses expected to be reclassified into earnings are shown below (in millions):

Net losses related to:
Foreign currency contracts	$	6.6
Interest rate swap contracts		2.4
Total	$	9.0

Such losses will be reclassified at the time that the underlying hedged transactions are realized.

Fair Value Measurements

GAAP provides that fair value is an exit price, defined as a market-based measurement that represents the amount that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants. Fair value measurements are based on one or more of the following three valuation techniques:

Market:		This approach uses prices and other relevant information generated by market transactions involving identical or comparable assets or liabilities.

Income:		This approach uses valuation techniques to convert future amounts to a single present value amount based on current market expectations.

Cost:		This approach is based on the amount that would be required to replace the service capacity of an asset (replacement cost).

Further, GAAP prioritizes the inputs and assumptions used in the valuation techniques described above into a three-tier fair value hierarchy as follows:

Level 1:		Observable inputs, such as quoted market prices in active markets for identical assets or liabilities that are accessible at the measurement date.

Level 2:		Inputs, other than quoted market prices included in Level 1, that are observable either directly or indirectly for the asset or liability.

Level 3:		Unobservable inputs that reflect the entity’s own assumptions about the exit price of the asset or liability. Unobservable inputs may be used if there is little or no market data for the asset or liability at the measurement date.

The Company discloses fair value measurements and the related valuation techniques and fair value hierarchy level for its assets and liabilities that are measured or disclosed at fair value.

Items Measured at Fair Value on a Recurring Basis

Fair value measurements and the related valuation techniques and fair value hierarchy level for the Company’s assets and liabilities measured at fair value on a recurring basis as of October 3, 2020 and December 31, 2019, are shown below (in millions):

	October 3, 2020
	Frequency	Asset (Liability)			Valuation Technique	Level 1		Level 2			Level 3
Foreign currency contracts, net	Recurring	$	(3.2	)	Market/ Income	$	-	$	(3.2	)	$	-
Net investment hedges	Recurring	$	(7.9	)	Market/ Income	$	-	$	(7.9	)	$	-
Marketable equity securities	Recurring	$	50.8		Market	$	50.8	$	-		$	-

	December 31, 2019
	Frequency	Asset (Liability)			Valuation Technique	Level 1		Level 2			Level 3
Foreign currency contracts, net	Recurring	$	50.3		Market/ Income	$	-	$	50.3		$	-
Net investment hedges	Recurring	$	(4.4	)	Market/ Income	$	-	$	(4.4	)	$	-
Marketable equity securities	Recurring	$	59.2		Market	$	59.2	$	-		$	-

The Company determines the fair value of its derivative contracts using quoted market prices to calculate the forward values and then discounts such forward values to the present value. The discount rates used are based on quoted bank deposit or swap interest rates. If a derivative contract is in a net liability position, the Company adjusts these discount rates, if required, by an estimate of the credit spread that would be applied by market participants purchasing these contracts from the Company’s counterparties. If an estimate of the credit spread is required, the Company uses significant assumptions and factors other than quoted market rates, which would result in the classification of its derivative liabilities within Level 3 of the fair value hierarchy. As of October 3, 2020 and December 31, 2019, there were no derivative contracts that were classified within Level 3 of the fair value hierarchy. In addition, there were no transfers in or out of Level 3 of the fair value hierarchy in the first nine months of 2020.

In the third quarter of 2020, the Company revalued certain pension benefit plan assets in conjunction with a settlement (Note 10, "Pension and Other Postretirement Benefit Plans"). As of October 3, 2020, the fair value of these assets was $274.4 million, of which $60.3 million is classified within Level 1 of the fair value hierarchy, $184.2 million is classified within Level 2 of the fair value hierarchy and $29.9 million is valued at net asset value.

Items Measured at Fair Value on a Non-Recurring Basis

The Company measures certain assets and liabilities at fair value on a non-recurring basis, which are not included in the table above. As these non-recurring fair value measurements are generally determined using unobservable inputs, these fair value measurements are classified within Level 3 of the fair value hierarchy.

In the first quarter of 2020, the Company completed a quantitative goodwill impairment assessment for one of its reporting units. The fair value estimate of the reporting unit was based on a third-party valuation and management's estimates, using a combination of the discounted cash flow method and guideline public company method.

As of October 3, 2020, there were no additional significant assets or liabilities measured at fair value on a non-recurring basis.

Accounting Pronouncements

9 Months Ended

Oct. 03, 2020

Accounting Changes And Error Corrections [Abstract]

Accounting Pronouncements

(19) Accounting Pronouncements

The Company considers the applicability and impact of all ASUs issued by the Financial Accounting Standards Board ("FASB").

The Company considered the ASUs summarized below, effective for 2020:

Measurement of Credit Losses on Financial Instruments

See Note 18, "Financial Instruments — Accounts Receivable."

Simplifying the Test for Goodwill Impairment

Effective January 1, 2020, the standard simplifies the accounting for goodwill impairments and allows a goodwill impairment charge to be based on the amount of a reporting unit's carrying value in excess of its fair value. This eliminates the requirement to calculate the implied fair value of goodwill (i.e., "Step 2" under current guidance).

Reference Rate Reform

In March 2020, the FASB issued guidance related to reference rate reform. The guidance provides temporary optional expedients and exceptions to the current guidance on contract modifications and hedge accounting to ease the financial reporting burdens related to the expected market transition from the London Interbank Offered Rate ("LIBOR") and other interbank offered rates to alternative reference rates. The guidance was effective upon issuance and generally can be applied to applicable contract modifications and hedge relationships prospectively through December 31, 2022. The adoption of this guidance is not expected to have a significant impact on the Company's financial statements.

The Company considered the ASUs summarized below, effective after 2020:

Simplifying the Accounting for Income Taxes

In December 2019, the FASB issued ASU 2019-12, "Income Taxes (Topic 740): Simplifying the Accounting for Income Taxes." The standard simplifies the accounting for income taxes by eliminating certain exceptions to the general principles in Topic 740 and amends existing guidance to improve consistent application. The standard is effective for fiscal years, and interim periods within those fiscal years, beginning after December 15, 2020, with early adoption permitted. The adoption of this standard is not expected to have a significant impact on the Company's financial statements.

Disclosure Requirements for Defined Benefit Plans

In August 2018, the FASB issued ASU 2018-14, "Compensation — Retirement Benefits — Defined Benefit Plans — General (Subtopic 715-20): Disclosure Framework — Changes to the Disclosure Requirements for Defined Benefit Plans," which provides minor changes to the disclosure requirements for employers that sponsor defined benefit pension and/or other postretirement benefit plans. This standard is effective for fiscal years ending after December 15, 2020, and early adoption is permitted. The adoption of this standard is not expected to have a significant impact on the Company's financial statements.

- Definition

The entire disclosure for change in accounting principle. Includes, but is not limited to, nature, reason, and method of adopting amendment to accounting standards or other change in accounting principle.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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+ Details

Basis of Presentation (Policies)

9 Months Ended

Oct. 03, 2020

Accounting Policies [Abstract]

Consolidation

Fiscal Period Reporting

The Company’s annual financial results are reported on a calendar year basis, and quarterly interim results are reported using a thirteen week reporting calendar.

Restructuring

Inventories

Pre-Production Costs Related to Long-Term Supply Agreements

Long-Term Assets

Impairment of Long-Lived Assets

Goodwill

Right-of-Use Assets and Lease Obligations

The Company has operating leases for production, office and warehouse facilities, manufacturing and office equipment and vehicles.

Revenue Recognition

Income Taxes

Net Income Per Share Attributable to Lear

Redeemable Noncontrolling Interest

Segment Reporting

Marketable Equity Securities

Derivative Instruments and Hedging Activities

Fair Value Measurements

Market:		This approach uses prices and other relevant information generated by market transactions involving identical or comparable assets or liabilities.

Income:		This approach uses valuation techniques to convert future amounts to a single present value amount based on current market expectations.

Cost:		This approach is based on the amount that would be required to replace the service capacity of an asset (replacement cost).

Further, GAAP prioritizes the inputs and assumptions used in the valuation techniques described above into a three-tier fair value hierarchy as follows:

Level 1:		Observable inputs, such as quoted market prices in active markets for identical assets or liabilities that are accessible at the measurement date.

Level 2:		Inputs, other than quoted market prices included in Level 1, that are observable either directly or indirectly for the asset or liability.

Level 3:		Unobservable inputs that reflect the entity’s own assumptions about the exit price of the asset or liability. Unobservable inputs may be used if there is little or no market data for the asset or liability at the measurement date.

The Company discloses fair value measurements and the related valuation techniques and fair value hierarchy level for its assets and liabilities that are measured or disclosed at fair value.

Accounting Pronouncements

The Company considers the applicability and impact of all ASUs issued by the Financial Accounting Standards Board ("FASB").

The Company considered the ASUs summarized below, effective for 2020:

Measurement of Credit Losses on Financial Instruments

See Note 18, "Financial Instruments — Accounts Receivable."

Simplifying the Test for Goodwill Impairment

Reference Rate Reform

The Company considered the ASUs summarized below, effective after 2020:

Simplifying the Accounting for Income Taxes

Disclosure Requirements for Defined Benefit Plans

Restructuring (Tables)

9 Months Ended

Oct. 03, 2020

Restructuring And Related Activities [Abstract]

Summary of Restructuring Activity

A summary of 2020 activity, excluding the pension benefit plan settlement loss of $10.2 million, is shown below (in millions):

	Accrual as of		2020		Utilization						Accrual as of
	January 1, 2020		Charges		Cash			Non-cash			October 3, 2020
Employee termination benefits	$	152.8	$	84.3	$	(104.9	)	$	-		$	132.2
Asset impairment charges		-		14.5		-			(14.5	)		-
Contract termination costs		4.9		0.9		(1.0	)		-			4.8
Other related costs		-		9.4		(9.4	)		-			-
Total	$	157.7	$	109.1	$	(115.3	)	$	(14.5	)	$	137.0

Inventories (Tables)

9 Months Ended

Oct. 03, 2020

Inventory Disclosure [Abstract]

Summary of Inventories

A summary of inventories is shown below (in millions):

	October 3, 2020			December 31, 2019
Raw materials	$	954.7		$	906.3
Work-in-process		110.4			107.0
Finished goods		364.9			380.4
Reserves		(164.4	)		(135.5	)
Inventories	$	1,265.6		$	1,258.2

Pre-Production Costs Related to Long-Term Supply Agreements (Tables)

9 Months Ended

Oct. 03, 2020

Deferred Costs Capitalized Prepaid And Other Assets Disclosure [Abstract]

Classification of Recoverable Customer E&D and Tooling Costs Related to Long-term Supply Agreements

The classification of recoverable customer E&D and tooling costs related to long-term supply agreements is shown below (in millions):

	October 3, 2020		December 31, 2019
Current	$	203.2	$	157.2
Long-term		135.6		113.8
Recoverable customer E&D and tooling	$	338.8	$	271.0

Long-Term Assets (Tables)

9 Months Ended

Oct. 03, 2020

Property Plant And Equipment [Abstract]

Summary of Property, Plant and Equipment

A summary of property, plant and equipment is shown below (in millions):

	October 3, 2020			December 31, 2019
Land	$	111.9		$	113.1
Buildings and improvements		838.1			831.3
Machinery and equipment		4,124.7			3,844.1
Construction in progress		271.5			382.4
Total property, plant and equipment		5,346.2			5,170.9
Less – accumulated depreciation		(2,718.9	)		(2,466.7	)
Property, plant and equipment, net	$	2,627.3		$	2,704.2

Goodwill (Tables)

9 Months Ended

Oct. 03, 2020

Goodwill And Intangible Assets Disclosure [Abstract]

Summary of Changes in Carrying Amount of Goodwill

A summary of the changes in the carrying amount of goodwill, by operating segment, in the nine months ended October 3, 2020, is shown below (in millions):

	Seating		E-Systems		Total
Balance at January 1, 2020	$	1,235.4	$	378.9	$	1,614.3
Foreign currency translation and other		11.2		3.5		14.7
Balance at October 3, 2020	$	1,246.6	$	382.4	$	1,629.0

Debt (Tables)

9 Months Ended

Oct. 03, 2020

Debt Disclosure [Abstract]

Summary of Long-Term Debt

A summary of long-term debt, net of unamortized debt issuance costs and unamortized original issue premium (discount), and the related weighted average interest rates is shown below (in millions):

	October 3, 2020
			Unamortized			Unamortized						Weighted
	Long-Term		Debt			Original Issue			Long-Term			Average
Debt Instrument	Debt		Issuance Costs			Premium (Discount)			Debt, Net			Interest Rate
Credit Agreement — Term Loan Facility	$	225.0	$	(0.7	)	$	-		$	224.3		1.360%
3.8% Senior Notes due 2027 (the "2027 Notes")		750.0		(4.2	)		(3.7	)		742.1		3.885%
4.25% Senior Notes due 2029 (the "2029 Notes")		375.0		(2.7	)		(1.0	)		371.3		4.288%
3.5% Senior Notes due 2030 (the "2030 Notes")		350.0		(2.7	)		(0.7	)		346.6		3.525%
5.25% Senior Notes due 2049 (the "2049 Notes")		625.0		(6.3	)		14.3			633.0		5.103%
Other		1.4		-			-			1.4		N/A
	$	2,326.4	$	(16.6	)	$	8.9			2,318.7
Less — Current portion										(18.9	)
Long-term debt									$	2,299.8

	December 31, 2019
			Unamortized			Unamortized						Weighted
	Long-Term		Debt			Original Issue			Long-Term			Average
Debt Instrument	Debt		Issuance Costs			Discount			Debt, Net			Interest Rate
Credit Agreement — Term Loan Facility	$	234.4	$	(1.0	)	$	-		$	233.4		2.880%
5.25% Senior Notes due 2025 (the "2025 Notes")		650.0		(4.2	)		-			645.8		5.250%
2027 Notes		750.0		(4.7	)		(4.1	)		741.2		3.885%
2029 Notes		375.0		(2.9	)		(1.1	)		371.0		4.288%
2049 Notes issued 2019		325.0		(3.3	)		(5.3	)		316.4		5.363%
	$	2,334.4	$	(16.1	)	$	(10.5	)		2,307.8
Less — Current portion										(14.1	)
Long-term debt									$	2,293.7

Senior Notes

The issuance, maturity and interest payment dates of the Company's senior unsecured 2027 Notes, 2029 Notes, 2030 Notes and 2049 Notes (together, the "Notes") are shown below:

Note	Issuance Date(s)	Maturity Date	Interest Payment Dates
2027 Notes	August 2017	September 15, 2027	March 15 and September 15
2029 Notes	May 2019	May 15, 2029	May 15 and November 15
2030 Notes	February 2020	May 30, 2030	May 30 and November 30
2049 Notes	May 2019 and February 2020	May 15, 2049	May 15 and November 15

Credit Agreement Interest Rate Ranges

The range and the rate as of October 3, 2020, are shown below (in percentages):

	Eurocurrency Rate									Base Rate
							Rate as of									Rate as of
	Minimum			Maximum			October 3, 2020			Minimum			Maximum			October 3, 2020
Revolving Credit Facility		1.00	%		1.60	%		1.10	%		0.00	%		0.60	%		0.10	%
Term Loan Facility		1.125	%		1.90	%		1.25	%		0.125	%		0.90	%		0.25	%

- Definition

Tabular disclosure of long-debt instruments or arrangements, including identification, terms, features, collateral requirements and other information necessary to a fair presentation. These are debt arrangements that originally required repayment more than twelve months after issuance or greater than the normal operating cycle of the entity, if longer.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 210
-SubTopic 10
-Section S99
-Paragraph 1
-Subparagraph (SX 210.5-02.22)
-URI http://asc.fasb.org/extlink&oid=120391452&loc=d3e13212-122682

Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 835
-SubTopic 30
-Section 45
-Paragraph 1A
-URI http://asc.fasb.org/extlink&oid=119993939&loc=d3e28541-108399

Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 505
-SubTopic 10
-Section 50
-Paragraph 6
-URI http://asc.fasb.org/extlink&oid=109259400&loc=d3e21506-112644

Reference 4: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 235
-SubTopic 10
-Section S99
-Paragraph 1
-Subparagraph (SX 210.4-08.(e),(f))
-URI http://asc.fasb.org/extlink&oid=120395691&loc=d3e23780-122690

Reference 5: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 835
-SubTopic 30
-Section 45
-Paragraph 2
-URI http://asc.fasb.org/extlink&oid=119993939&loc=d3e28551-108399

Reference 6: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 505
-SubTopic 10
-Section 50
-Paragraph 7
-URI http://asc.fasb.org/extlink&oid=109259400&loc=d3e21521-112644

Reference 7: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 505
-SubTopic 10
-Section 50
-Paragraph 8
-URI http://asc.fasb.org/extlink&oid=109259400&loc=d3e21538-112644

Reference 8: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 942
-SubTopic 470
-Section 50
-Paragraph 3
-URI http://asc.fasb.org/extlink&oid=75038535&loc=d3e64711-112823

Reference 9: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 835
-SubTopic 30
-Section 55
-Paragraph 8
-URI http://asc.fasb.org/extlink&oid=114775985&loc=d3e28878-108400

Reference 10: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 505
-SubTopic 10
-Section 50
-Paragraph 3
-URI http://asc.fasb.org/extlink&oid=109259400&loc=d3e21475-112644

+ Details

Leases (Tables)

9 Months Ended

Oct. 03, 2020

Leases [Abstract]

Right-of-Use Assets and Lease Obligations

Operating lease assets and obligations included in the accompanying condensed consolidated balance sheet are shown below (in millions):

	October 3, 2020		December 31, 2019
Right-of-use assets under operating leases:
Other long-term assets	$	539.4	$	527.0
Lease obligations under operating leases:
Accrued liabilities	$	113.2	$	113.9
Other long-term liabilities		439.0		422.4
	$	552.2	$	536.3

Maturity of Lease Obligations

Maturities of lease obligations as of October 3, 2020, are shown below (in millions):

	October 3, 2020
2020⁽¹⁾	$	35.9
2021		129.6
2022		103.7
2023		81.6
2024		67.3
Thereafter		220.8
Total undiscounted cash flows		638.9
Less: Imputed interest		(86.7	)
Lease obligations under operating leases	$	552.2

⁽¹⁾	^{For the remaining three months}

Cash Flow Information, Lease Expense, Weighted Average Lease Term and Discount Rate

Cash flow information related to operating leases is shown below (in millions):

	Nine Months Ended
	October 3, 2020		September 28, 2019
Non-cash activity:
Right of use assets obtained in exchange for operating lease obligations	$	116.2	$	177.1
Operating cash flows:
Cash paid related to operating lease obligations	$	106.3	$	104.0

Lease expense included in the accompanying condensed consolidated statements of comprehensive income (loss) is shown below (in millions):

	Three Months Ended				Nine Months Ended
	October 3, 2020		September 28, 2019		October 3, 2020		September 28, 2019
Operating lease expense	$	38.6	$	36.9	$	110.2	$	104.4
Short-term lease expense		3.3		3.1		11.3		12.1
Variable lease expense		2.2		1.4		5.9		3.2
Total lease expense	$	44.1	$	41.4	$	127.4	$	119.7

The weighted average lease term and discount rate for operating leases are shown below:

October 3,

2020

Weighted average remaining lease term (in years)

6.9

Weighted average discount rate

3.4%

Pension and Other Postretirement Benefit Plans (Tables)

9 Months Ended

Oct. 03, 2020

Compensation And Retirement Disclosure [Abstract]

Net Periodic Pension and Other Postretirement Benefit (Credit) Cost

The components of the Company’s net periodic pension benefit (credit) cost are shown below (in millions):

	Three Months Ended												Nine Months Ended
	October 3, 2020						September 28, 2019						October 3, 2020						September 28, 2019
	U.S.			Foreign			U.S.			Foreign			U.S.			Foreign			U.S.			Foreign
Service cost	$	0.1		$	1.2		$	-		$	1.5		$	0.1		$	3.6		$	-		$	4.7
Interest cost		4.1			3.1			4.6			3.7			12.3			9.2			13.9			11.0
Expected return on plan assets		(5.4	)		(4.9	)		(5.0	)		(5.2	)		(16.0	)		(14.8	)		(15.1	)		(15.6	)
Amortization of actuarial loss		0.6			1.2			0.5			1.9			1.7			3.5			1.4			5.8
Settlement loss		-			10.2			-			-			0.3			10.2			0.1			-
Net periodic benefit (credit) cost	$	(0.6	)	$	10.8		$	0.1		$	1.9		$	(1.6	)	$	11.7		$	0.3		$	5.9

The components of the Company’s net periodic other postretirement benefit (credit) cost are shown below (in millions):

	Three Months Ended										Nine Months Ended
	October 3, 2020					September 28, 2019					October 3, 2020					September 28, 2019
	U.S.			Foreign		U.S.			Foreign		U.S.			Foreign		U.S.			Foreign
Service cost	$	-		$	-	$	-		$	0.1	$	-		$	-	$	-		$	0.2
Interest cost		0.5			0.2		0.5			0.3		1.3			0.6		1.6			1.0
Amortization of actuarial gain		(0.4	)		-		(0.6	)		-		(1.2	)		-		(1.7	)		-
Amortization of prior service credit		-			-		-			-		(0.1	)		-		(0.1	)		(0.1	)
Net periodic benefit (credit) cost	$	0.1		$	0.2	$	(0.1	)	$	0.4	$	0.0		$	0.6	$	(0.2	)	$	1.1

Revenue Recognition (Tables)

9 Months Ended

Oct. 03, 2020

Revenue From Contract With Customer [Abstract]

Summary of Revenue by Reportable Segment and Geography

A summary of the Company’s revenue by reportable operating segment and geography is shown below (in millions):

	Three Months Ended
	October 3, 2020						September 28, 2019
	Seating		E-Systems		Total		Seating		E-Systems		Total
North America	$	1,706.2	$	333.5	$	2,039.7	$	1,626.5	$	250.5	$	1,877.0
Europe and Africa		1,214.0		491.1		1,705.1		1,291.2		495.7		1,786.9
Asia		661.1		343.3		1,004.4		667.6		312.7		980.3
South America		110.3		40.6		150.9		129.7		51.1		180.8
	$	3,691.6	$	1,208.5	$	4,900.1	$	3,715.0	$	1,110.0	$	4,825.0

	Nine Months Ended
	October 3, 2020						September 28, 2019
	Seating		E-Systems		Total		Seating		E-Systems		Total
North America	$	3,894.7	$	766.1	$	4,660.8	$	4,815.5	$	810.0	$	5,625.5
Europe and Africa		3,000.1		1,281.2		4,281.3		4,307.0		1,650.7		5,957.7
Asia		1,676.4		845.2		2,521.6		1,978.2		923.6		2,901.8
South America		241.9		96.7		338.6		367.4		140.3		507.7
	$	8,813.1	$	2,989.2	$	11,802.3	$	11,468.1	$	3,524.6	$	14,992.7

Other Expense, Net (Tables)

9 Months Ended

Oct. 03, 2020

Other Income And Expenses [Abstract]

Summary of Other Expense, Net

A summary of other expense, net is shown below (in millions):

	Three Months Ended						Nine Months Ended
	October 3, 2020			September 28, 2019			October 3, 2020			September 28, 2019
Other expense	$	20.3		$	13.7		$	61.2		$	41.7
Other income		(3.2	)		(4.0	)		(6.8	)		(13.8	)
Other expense, net	$	17.1		$	9.7		$	54.4		$	27.9

Income Taxes (Tables)

9 Months Ended

Oct. 03, 2020

Income Tax Disclosure [Abstract]

Provision for Income Taxes and Corresponding Effective Tax Rate

	Three Months Ended						Nine Months Ended
	October 3, 2020			September 28, 2019			October 3, 2020			September 28, 2019
Provision for income taxes	$	44.6		$	33.5		$	30.1		$	149.9
Pretax income before equity in net income of affiliates	$	235.2		$	267.0		$	25.4		$	820.8
Effective tax rate		19.0	%		12.5	%		118.5	%		18.3	%

Schedule of Tax Benefits (Expense)

The Company’s discrete tax benefit (expense) on significant items is shown below (in millions):

	Nine Months Ended
	October 3, 2020			September 28, 2019
Restructuring charges and various other items	$	20.7		$	35.7
Valuation allowances on deferred tax assets		(12.2	)		(10.4	)
Share-based compensation		-			3.1
Change in tax status of certain affiliates		-			18.4
Research and development tax credits		5.0			28.6
	$	13.5		$	75.4

Net Income (Loss) Per Share Attributable to Lear (Tables)

9 Months Ended

Oct. 03, 2020

Earnings Per Share [Abstract]

Summary of Information Used to Compute Basic and Diluted Net Income Per Share

A summary of information used to compute basic and diluted net income (loss) per share available to Lear common stockholders is shown below (in millions, except share and per share data):

	Three Months Ended				Nine Months Ended
	October 3, 2020		September 28, 2019		October 3, 2020			September 28, 2019
Net income (loss) attributable to Lear	$	174.4	$	215.9	$	(43.1	)	$	627.6
Redeemable noncontrolling interest adjustment		-		3.6		-			9.4
Net income (loss) available to Lear common stockholders	$	174.4	$	219.5	$	(43.1	)	$	637.0

Average common shares outstanding		60,159,356		61,133,723		60,260,886			62,042,156
Dilutive effect of common stock equivalents		171,585		196,363		-			220,747
Average diluted shares outstanding		60,330,941		61,330,086		60,260,886			62,262,903

Basic net income (loss) per share available to Lear common stockholders	$	2.90	$	3.59	$	(0.72	)	$	10.27

Diluted net income (loss) per share available to Lear common stockholders	$	2.89	$	3.58	$	(0.72	)	$	10.23

Comprehensive Income (Loss) and Equity (Tables)

9 Months Ended

Oct. 03, 2020

Equity [Abstract]

Summary of Changes, Net of Tax, in Accumulated Other Comprehensive Loss

A summary of changes, net of tax, in accumulated other comprehensive loss for the three and nine months ended October 3, 2020, is shown below (in millions):

	Three Months Ended October 3, 2020			Nine Months Ended October 3, 2020
Defined benefit plans:
Balance at beginning of period	$	(211.7	)	$	(217.6	)
Reclassification adjustments (net of tax expense of $0.6 million and $1.3 million in the three and nine months ended October 3, 2020, respectively)		11.0			13.1
Other comprehensive loss recognized during the period (net of tax benefit of $5.4 million in the three and nine months ended October 3, 2020)		(29.7	)		(25.9	)
Balance at end of period	$	(230.4	)	$	(230.4	)
Derivative instruments and hedging:
Balance at beginning of period	$	(50.4	)	$	9.8
Reclassification adjustments (net of tax expense of $0.1 million and $1.8 million in the three and nine months ended October 3, 2020, respectively)		3.9			9.2
Other comprehensive income (loss) recognized during the period (net of tax benefit (expense) of ($6.3) million and $9.6 million in the three and nine months ended October 3, 2020, respectively)		14.8			(50.7	)
Balance at end of period	$	(31.7	)	$	(31.7	)
Foreign currency translation:
Balance at beginning of period	$	(660.9	)	$	(564.9	)
Other comprehensive income (loss) recognized during the period (net of tax benefit of $2.9 million and $0.7 million in the three and nine months ended October 3, 2020, respectively)		83.3			(12.7	)
Balance at end of period	$	(577.6	)	$	(577.6	)

Total accumulated other comprehensive loss	$	(839.7	)	$	(839.7	)

A summary of changes, net of tax, in accumulated other comprehensive loss for the three and nine months ended September 28, 2019, is shown below (in millions):

	Three Months Ended September 28, 2019			Nine Months Ended September 28, 2019
Defined benefit plans:
Balance at beginning of period	$	(173.9	)	$	(172.8	)
Reclassification adjustments (net of tax expense of $0.4 million and $0.8 million in the three and nine months ended September 28, 2019, respectively)		1.5			4.7
Other comprehensive loss recognized during the period (net of tax benefit of $1.6 million in the three and nine months ended September 28, 2019)		(4.6	)		(8.9	)
Balance at end of period	$	(177.0	)	$	(177.0	)
Derivative instruments and hedging:
Balance at beginning of period	$	(1.2	)	$	(9.7	)
Reclassification adjustments (net of tax benefit of $2.4 million and $7.2 million in the three and nine months ended September 28, 2019, respectively)		(8.4	)		(25.5	)
Other comprehensive income (loss) recognized during the period (net of tax benefit (expense) of $1.1 million and ($6.2) million in the three and nine months ended September 28, 2019, respectively)		(3.9	)		21.7
Balance at end of period	$	(13.5	)	$	(13.5	)
Foreign currency translation:
Balance at beginning of period	$	(523.1	)	$	(523.3	)
Other comprehensive loss recognized during the period (net of tax impact of $— million in the three and nine months ended September 28, 2019)		(115.7	)		(115.5	)
Balance at end of period	$	(638.8	)	$	(638.8	)

Total accumulated other comprehensive loss	$	(829.3	)	$	(829.3	)

Common Stock Repurchase Program

Share repurchases prior to the suspension are shown below (in millions except for shares and per share amounts):

Nine Months Ended								As of
October 3, 2020								October 3, 2020
Aggregate Repurchases		Cash paid for Repurchases		Number of Shares		Average Price per Share⁽¹⁾		Remaining Purchase Authorization
$	70.0	$	70.0		641,149	$	109.22	$	1,430.0

⁽¹⁾	Excludes commissions

Dividends Declared and Paid

Dividends declared and paid are shown below (in millions):

	Nine Months Ended
	October 3, 2020		September 28, 2019
Dividends declared	$	46.8	$	140.3
Dividends paid		52.0		141.1

Legal and Other Contingencies (Tables)

9 Months Ended

Oct. 03, 2020

Commitments And Contingencies Disclosure [Abstract]

Summary of Changes in Reserves for Product Liability and Warranty Claims

A summary of the changes in reserves for product liability and warranty claims for the nine months ended October 3, 2020, is shown below (in millions):

Balance at January 1, 2020	$	32.0
Expense, net (including changes in estimates)		20.1
Settlements		(7.0	)
Foreign currency translation and other		(0.4	)
Balance at October 3, 2020	$	44.7

Segment Reporting (Tables)

9 Months Ended

Oct. 03, 2020

Segment Reporting [Abstract]

Summary of Revenues from External Customers and Other Financial Information by Reportable Operating Segment

A summary of revenues from external customers and other financial information by reportable operating segment is shown below (in millions):

	Three Months Ended October 3, 2020
	Seating		E-Systems		Other			Consolidated
Revenues from external customers	$	3,691.6	$	1,208.5	$	-		$	4,900.1
Segment earnings⁽¹⁾		250.7		86.0		(57.9	)		278.8
Depreciation and amortization		87.8		44.8		3.7			136.3
Capital expenditures		48.8		40.2		1.1			90.1
Total assets		7,574.2		3,232.4		2,088.1			12,894.7

	Three Months Ended September 28, 2019
	Seating		E-Systems		Other			Consolidated
Revenues from external customers	$	3,715.0	$	1,110.0	$	-		$	4,825.0
Segment earnings⁽¹⁾		281.5		74.3		(55.1	)		300.7
Depreciation and amortization		82.1		42.5		3.9			128.5
Capital expenditures		86.0		59.8		5.0			150.8
Total assets		7,575.3		3,078.8		2,099.2			12,753.3

	Nine Months Ended October 3, 2020
	Seating		E-Systems		Other			Consolidated
Revenues from external customers	$	8,813.1	$	2,989.2	$	-		$	11,802.3
Segment earnings⁽¹⁾		320.4		5.0		(167.5	)		157.9
Depreciation and amortization		255.1		130.5		11.5			397.1
Capital expenditures		162.0		119.0		4.3			285.3

	Nine Months Ended September 28, 2019
	Seating		E-Systems		Other			Consolidated
Revenues from external customers	$	11,468.1	$	3,524.6	$	-		$	14,992.7
Segment earnings⁽¹⁾		817.0		287.3		(186.2	)		918.1
Depreciation and amortization		248.4		120.2		11.8			380.4
Capital expenditures		246.2		151.4		12.5			410.1

⁽¹⁾	^{See definition above}

Reconciliation of Segment Earnings to Consolidated Income Before Provision for Income Taxes and Equity

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				Nine Months Ended
	October 3, 2020		September 28, 2019		October 3, 2020		September 28, 2019
Segment earnings	$	278.8	$	300.7	$	157.9	$	918.1
Interest expense		26.5		24.0		78.1		69.4
Other expense, net		17.1		9.7		54.4		27.9
Consolidated income before provision for income taxes and equity in net income of affiliates	$	235.2	$	267.0	$	25.4	$	820.8

Financial Instruments (Tables)

9 Months Ended

Oct. 03, 2020

Fair Value Disclosures [Abstract]

Estimated Aggregate Fair Value and Carrying Value of Debt Instruments

The estimated fair value, as well as the carrying value, of the Company's debt instruments are shown below (in millions):

October 3,

2020

December 31,

2019

Estimated aggregate fair value⁽¹⁾

2,454.4

2,384.6

Aggregate carrying value ^{(1) (2)}

2,325.0

2,334.4

⁽¹⁾	Includes Term Loan Facility and Notes (excludes "other" debt)

⁽²⁾	Excludes the impact of unamortized debt issuance costs and unamortized original issue premium (discount)

Reconciliation of Cash, Cash Equivalents and Restricted Cash

	October 3, 2020		September 28, 2019
Balance sheet - cash and cash equivalents	$	1,250.4	$	1,300.9
Restricted cash included in other current assets		5.1		15.6
Restricted cash included in other long-term assets		2.7		6.8
Statement of cash flows - cash, cash equivalents and restricted cash	$	1,258.2	$	1,323.3

Marketable Equity Securities

Marketable equity securities, which the Company accounts for under the fair value option, are included in the accompanying condensed consolidated balance sheets as shown below (in millions):

	October 3, 2020		December 31, 2019
Current assets	$	8.9	$	17.1
Other long-term assets		41.9		42.1
	$	50.8	$	59.2

Notional Amount, Estimated Aggregate Fair Value and Related Balance Sheet Classification of Foreign Currency Derivative Contracts

	October 3, 2020			December 31, 2019
Fair value of foreign currency contracts designated as cash flow hedges:
Other current assets	$	15.0		$	44.0
Other long-term assets		5.8			7.3
Other current liabilities		(21.6	)		(4.5	)
Other long-term liabilities		(3.7	)		(0.2	)
		(4.5	)		46.6
Notional amount	$	1,225.4		$	1,465.8
Outstanding maturities in months, not to exceed		24			24
Fair value of derivatives designated as net investment hedges:
Other long-term liabilities	$	(7.9	)	$	(4.4	)
Notional amount	$	300.0		$	300.0
Outstanding maturities in months, not to exceed		48			57
Fair value of foreign currency contracts not designated as hedging instruments:
Other current assets	$	7.2		$	6.9
Other current liabilities		(5.9	)		(3.2	)
		1.3			3.7
Notional amount	$	1,728.6		$	697.0
Outstanding maturities in months, not to exceed		15			12
Total fair value	$	(11.1	)	$	45.9
Total notional amount	$	3,254.0		$	2,462.8

Pretax Amounts Recognized in and Reclassified from Accumulated Other Comprehensive Loss

	Three Months Ended						Nine Months Ended
	October 3, 2020			September 28, 2019			October 3, 2020			September 28, 2019
Gains (losses) recognized in accumulated other comprehensive loss:
Foreign currency contracts	$	21.1		$	(5.0	)	$	(60.3	)	$	37.4
Net investment hedge contracts		(13.9	)		1.7			(3.5	)		1.7
Interest rate swap contracts		-			-			-			(9.5	)
		7.2			(3.3	)		(63.8	)		29.6
(Gains) losses reclassified from accumulated other comprehensive loss to:
Net sales		(0.2	)		1.3			(0.7	)		2.3
Cost of sales		3.5			(12.6	)		10.0			(35.5	)
Interest expense		0.6			0.6			1.8			0.9
Other expense, net		0.1			-			(0.1	)		-
		4.0			(10.7	)		11.0			(32.3	)
Comprehensive income (loss)	$	11.2		$	(14.0	)	$	(52.8	)	$	(2.7	)

During the next twelve month period, net losses expected to be reclassified into earnings are shown below (in millions):

Net losses related to:
Foreign currency contracts	$	6.6
Interest rate swap contracts		2.4
Total	$	9.0

Fair Value Measurements and Related Valuation Techniques and Fair Value Hierarchy Level

	October 3, 2020
	Frequency	Asset (Liability)			Valuation Technique	Level 1		Level 2			Level 3
Foreign currency contracts, net	Recurring	$	(3.2	)	Market/ Income	$	-	$	(3.2	)	$	-
Net investment hedges	Recurring	$	(7.9	)	Market/ Income	$	-	$	(7.9	)	$	-
Marketable equity securities	Recurring	$	50.8		Market	$	50.8	$	-		$	-

	December 31, 2019
	Frequency	Asset (Liability)			Valuation Technique	Level 1		Level 2			Level 3
Foreign currency contracts, net	Recurring	$	50.3		Market/ Income	$	-	$	50.3		$	-
Net investment hedges	Recurring	$	(4.4	)	Market/ Income	$	-	$	(4.4	)	$	-
Marketable equity securities	Recurring	$	59.2		Market	$	59.2	$	-		$	-

Impact of COVID-19 Pandemic - Narrative (Details) $ in Millions	9 Months Ended
	Oct. 03, 2020 USD ($)
Government Assistance, CARES Act
Unusual Or Infrequent Item [Line Items]
Proceeds from government assistance	$ 95

Restructuring - Narrative (Details) $ in Millions	3 Months Ended	9 Months Ended
Restructuring - Narrative (Details) $ in Millions	Oct. 03, 2020 USD ($)	Oct. 03, 2020 USD ($)
Restructuring Cost And Reserve [Line Items]
Restructuring charges, including curtailment and settlement losses		$ 119.3
Restructuring charges		109.1
Carrying values in excess of estimated fair values	$ 12.5	12.5
Impairment of right of use assets		2.0
Expected restructuring costs	30.0	30.0
Pension
Restructuring Cost And Reserve [Line Items]
Settlement loss	$ 10.2	10.2
Employee termination costs
Restructuring Cost And Reserve [Line Items]
Restructuring charges		84.3
Asset impairment charges
Restructuring Cost And Reserve [Line Items]
Restructuring charges		14.5
Contract termination costs
Restructuring Cost And Reserve [Line Items]
Restructuring charges		0.9
Other related costs
Restructuring Cost And Reserve [Line Items]
Restructuring charges		9.4
Cost of sales
Restructuring Cost And Reserve [Line Items]
Restructuring charges		83.0
Selling, general and administrative expenses
Restructuring Cost And Reserve [Line Items]
Restructuring charges		23.4
Other expense, net
Restructuring Cost And Reserve [Line Items]
Restructuring charges		$ 12.9

Restructuring - Summary of Restructuring Activities (Details) $ in Millions	9 Months Ended
	Oct. 03, 2020 USD ($)
Restructuring Cost And Reserve [Line Items]
Accrual as of January 1, 2020	$ 157.7
2020 Charges	109.1
Utilization cash	(115.3)
Utilization, non-cash	(14.5)
Accrual as of October 3, 2020	137.0
Employee termination benefits
Restructuring Cost And Reserve [Line Items]
Accrual as of January 1, 2020	152.8
2020 Charges	84.3
Utilization cash	(104.9)
Utilization, non-cash	0.0
Accrual as of October 3, 2020	132.2
Asset impairment charges
Restructuring Cost And Reserve [Line Items]
Accrual as of January 1, 2020	0.0
2020 Charges	14.5
Utilization cash	0.0
Utilization, non-cash	(14.5)
Accrual as of October 3, 2020	0.0
Contract termination costs
Restructuring Cost And Reserve [Line Items]
Accrual as of January 1, 2020	4.9
2020 Charges	0.9
Utilization cash	(1.0)
Utilization, non-cash	0.0
Accrual as of October 3, 2020	4.8
Other related costs
Restructuring Cost And Reserve [Line Items]
Accrual as of January 1, 2020	0.0
2020 Charges	9.4
Utilization cash	(9.4)
Utilization, non-cash	0.0
Accrual as of October 3, 2020	$ 0.0

Inventories (Details) - USD ($) $ in Millions	Oct. 03, 2020	Dec. 31, 2019
Inventory Disclosure [Abstract]
Raw materials	$ 954.7	$ 906.3
Work-in-process	110.4	107.0
Finished goods	364.9	380.4
Reserves	(164.4)	(135.5)
Inventories	$ 1,265.6	$ 1,258.2

Pre-Production Costs Related to Long-Term Supply Agreements - Narrative (Details) - USD ($) $ in Millions	9 Months Ended
	Oct. 03, 2020	Sep. 28, 2019
Deferred Costs Capitalized Prepaid And Other Assets Disclosure [Abstract]
Pre-production E&D costs for which reimbursement is contractually guaranteed by the customer	$ 111.1	$ 174.8
Pre-production tooling costs related to customer-owned tools for which reimbursement is contractually guaranteed by the customer	130.2	126.7
Cash collected related to E&D and tooling costs	$ 184.5	$ 243.5

Pre-Production Costs Related to Long-Term Supply Agreements - Classification of Recoverable Customer E&D and Tooling Costs Related to Long-term Supply Agreements (Details) - USD ($) $ in Millions	Oct. 03, 2020	Dec. 31, 2019
Pre Production Costs Related to Long Term Supply Arrangements [Line Items]
Recoverable customer E&D and tooling	$ 338.8	$ 271.0
Current
Pre Production Costs Related to Long Term Supply Arrangements [Line Items]
Recoverable customer E&D and tooling	203.2	157.2
Long-term
Pre Production Costs Related to Long Term Supply Arrangements [Line Items]
Recoverable customer E&D and tooling	$ 135.6	$ 113.8

Long-Term Assets - Property, Plant and Equipment (Details) - USD ($) $ in Millions	Oct. 03, 2020	Dec. 31, 2019
Property Plant And Equipment [Abstract]
Land	$ 111.9	$ 113.1
Buildings and improvements	838.1	831.3
Machinery and equipment	4,124.7	3,844.1
Construction in progress	271.5	382.4
Total property, plant and equipment	5,346.2	5,170.9
Less – accumulated depreciation	(2,718.9)	(2,466.7)
Property, plant and equipment, net	$ 2,627.3	$ 2,704.2

Long-Term Assets - Narrative (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Oct. 03, 2020	Sep. 28, 2019	Oct. 03, 2020	Sep. 28, 2019
Restructuring Cost And Reserve [Line Items]
Depreciation expense	$ 120.0	$ 111.8	$ 347.7	$ 335.1
Restructuring charges			3.4
Gain (loss) on investments			4.0
Asset impairment charges
Restructuring Cost And Reserve [Line Items]
Restructuring charges			$ 12.5	$ 4.0

Goodwill - Summary of Changes in Carrying Amount of Goodwill (Details) $ in Millions	9 Months Ended
	Oct. 03, 2020 USD ($)
Goodwill [Roll Forward]
Balance at January 1, 2020	$ 1,614.3
Foreign currency translation and other	14.7
Balance at October 3, 2020	1,629.0
Seating
Goodwill [Roll Forward]
Balance at January 1, 2020	1,235.4
Foreign currency translation and other	11.2
Balance at October 3, 2020	1,246.6
E-Systems
Goodwill [Roll Forward]
Balance at January 1, 2020	378.9
Foreign currency translation and other	3.5
Balance at October 3, 2020	$ 382.4

Goodwill - Narrative (Details) - USD ($)	9 Months Ended
Goodwill - Narrative (Details) - USD ($)	Oct. 03, 2020	Sep. 28, 2019
Goodwill And Intangible Assets Disclosure [Abstract]
Goodwill, impairment	$ 0	$ 0

Debt - Summary of Long-Term Debt (Details) - USD ($) $ in Millions	Oct. 03, 2020	Feb. 29, 2020	Dec. 31, 2019
Debt Instrument [Line Items]
Long-Term Debt	$ 2,326.4		$ 2,334.4
Unamortized Debt Issuance Costs	(16.6)		(16.1)
Unamortized Original Issue Premium (Discount)	8.9		(10.5)
Long-Term Debt, Net	2,318.7		2,307.8
Less — Current portion	(18.9)		(14.1)
Long-term debt	2,299.8		2,293.7
Credit agreement \| Term Loan Facility \| Credit Agreement — Term Loan Facility
Debt Instrument [Line Items]
Long-Term Debt	225.0		234.4
Unamortized Debt Issuance Costs	(0.7)		(1.0)
Unamortized Original Issue Premium (Discount)	0.0		0.0
Long-Term Debt, Net	$ 224.3		$ 233.4
Weighted Average Interest Rate	1.36%		2.88%
Senior notes \| 3.8% Senior Notes due 2027 (the 2027 Notes)
Debt Instrument [Line Items]
Long-Term Debt	$ 750.0		$ 750.0
Unamortized Debt Issuance Costs	(4.2)		(4.7)
Unamortized Original Issue Premium (Discount)	(3.7)		(4.1)
Long-Term Debt, Net	$ 742.1		$ 741.2
Weighted Average Interest Rate	3.885%		3.885%
Stated interest rate	3.80%
Senior notes \| 4.25% Senior Notes due 2029 (the 2029 Notes)
Debt Instrument [Line Items]
Long-Term Debt	$ 375.0		$ 375.0
Unamortized Debt Issuance Costs	(2.7)		(2.9)
Unamortized Original Issue Premium (Discount)	(1.0)		(1.1)
Long-Term Debt, Net	$ 371.3		$ 371.0
Weighted Average Interest Rate	4.288%		4.288%
Stated interest rate	4.25%
Senior notes \| 3.5% Senior Notes due 2030 (the 2030 Notes)
Debt Instrument [Line Items]
Long-Term Debt	$ 350.0
Unamortized Debt Issuance Costs	(2.7)
Unamortized Original Issue Premium (Discount)	(0.7)
Long-Term Debt, Net	$ 346.6
Weighted Average Interest Rate	3.525%
Stated interest rate	3.50%	3.50%
Senior notes \| 5.25% Senior Notes due 2049 (the 2049 Notes)
Debt Instrument [Line Items]
Long-Term Debt	$ 625.0
Unamortized Debt Issuance Costs	(6.3)
Unamortized Original Issue Premium (Discount)	14.3
Long-Term Debt, Net	$ 633.0
Weighted Average Interest Rate	5.103%
Stated interest rate	5.25%	5.25%
Senior notes \| 5.25% Senior Notes due 2025 (the 2025 Notes)
Debt Instrument [Line Items]
Long-Term Debt		$ 650.0	$ 650.0
Unamortized Debt Issuance Costs			(4.2)
Unamortized Original Issue Premium (Discount)			0.0
Long-Term Debt, Net			$ 645.8
Weighted Average Interest Rate			5.25%
Stated interest rate			5.25%
Senior notes \| 2049 Notes issued 2019
Debt Instrument [Line Items]
Long-Term Debt			$ 325.0
Unamortized Debt Issuance Costs			(3.3)
Unamortized Original Issue Premium (Discount)			(5.3)
Long-Term Debt, Net			$ 316.4
Weighted Average Interest Rate			5.363%
Notes Payable, Other Payables
Debt Instrument [Line Items]
Other	$ 1.4

Debt - Senior Notes (Details) - USD ($)	1 Months Ended	9 Months Ended
Debt - Senior Notes (Details) - USD ($)	Feb. 29, 2020	Oct. 03, 2020	Sep. 28, 2019	Dec. 31, 2019
Debt Instrument [Line Items]
Long-term debt, gross		$ 2,326,400,000		$ 2,334,400,000
Loss on extinguishment of debt		21,100,000	$ 10,600,000
Payments of related issuance costs		6,900,000	$ 6,500,000
Senior notes
Debt Instrument [Line Items]
Proceeds from offering	$ 669,100,000
Payments of related issuance costs		$ 5,900,000
Senior notes \| 2030 Notes
Debt Instrument [Line Items]
Aggregate principal amount	$ 350,000,000.0
Stated coupon rate	3.50%	3.50%
Redemption price	99.774%
Yield to maturity	3.525%
Long-term debt, gross		$ 350,000,000.0
Senior notes \| 2049 Notes
Debt Instrument [Line Items]
Aggregate principal amount	$ 300,000,000.0
Stated coupon rate	5.25%	5.25%
Redemption price	106.626%
Yield to maturity	4.821%
Long-term debt, gross		$ 625,000,000.0
Senior notes \| 2025 Notes
Debt Instrument [Line Items]
Stated coupon rate				5.25%
Redemption price	102.625%
Long-term debt, gross	$ 650,000,000.0			$ 650,000,000.0

Debt - Credit Agreement (Details) - USD ($)	9 Months Ended
Debt - Credit Agreement (Details) - USD ($)	Oct. 03, 2020	Sep. 28, 2019	Sep. 30, 2020	Dec. 31, 2019	Aug. 08, 2017
Debt Instrument [Line Items]
Payments of related issuance costs	$ 6,900,000	$ 6,500,000
Repayments of amounts outstanding	$ 9,400,000	$ 3,100,000
Credit Agreement — Revolving Credit Facility \| Minimum
Debt Instrument [Line Items]
Facility fee	0.125%
Credit Agreement — Revolving Credit Facility \| Maximum
Debt Instrument [Line Items]
Facility fee	0.30%
Credit agreement \| Revolving Credit Facility
Debt Instrument [Line Items]
Payments of related issuance costs	$ 1,000,000.0
Credit agreement \| Credit Agreement — Revolving Credit Facility
Debt Instrument [Line Items]
Debt instrument, face amount			$ 1,000,000,000.0
Credit agreement \| Credit Agreement — Revolving Credit Facility \| Revolving Credit Facility
Debt Instrument [Line Items]
Line of credit facility, maximum borrowing capacity					$ 1,750,000,000
Borrowings outstanding under Revolving Credit Facility	0			$ 0
Credit agreement \| Credit Agreement — Term Loan Facility \| Term Loan Facility
Debt Instrument [Line Items]
Debt instrument, face amount					$ 250,000,000.0
Borrowings outstanding under Revolving Credit Facility	225,000,000.0			$ 234,400,000
Repayments of amounts outstanding	$ 9,400,000

Debt - Credit Agreement Interest Rate Ranges (Details)	9 Months Ended
Debt - Credit Agreement Interest Rate Ranges (Details)	Oct. 03, 2020
Revolving Credit Facility \| Credit Agreement — Revolving Credit Facility \| Eurocurrency Rate
Debt Instrument [Line Items]
Interest rate as of period end	1.10%
Revolving Credit Facility \| Credit Agreement — Revolving Credit Facility \| Eurocurrency Rate \| Minimum
Debt Instrument [Line Items]
Basis spread on variable rate	1.00%
Revolving Credit Facility \| Credit Agreement — Revolving Credit Facility \| Eurocurrency Rate \| Maximum
Debt Instrument [Line Items]
Basis spread on variable rate	1.60%
Revolving Credit Facility \| Credit Agreement — Revolving Credit Facility \| Base Rate
Debt Instrument [Line Items]
Interest rate as of period end	0.10%
Revolving Credit Facility \| Credit Agreement — Revolving Credit Facility \| Base Rate \| Minimum
Debt Instrument [Line Items]
Basis spread on variable rate	0.00%
Revolving Credit Facility \| Credit Agreement — Revolving Credit Facility \| Base Rate \| Maximum
Debt Instrument [Line Items]
Basis spread on variable rate	0.60%
Term Loan Facility \| Credit Agreement — Term Loan Facility \| Eurocurrency Rate
Debt Instrument [Line Items]
Interest rate as of period end	1.25%
Term Loan Facility \| Credit Agreement — Term Loan Facility \| Eurocurrency Rate \| Minimum
Debt Instrument [Line Items]
Basis spread on variable rate	1.125%
Term Loan Facility \| Credit Agreement — Term Loan Facility \| Eurocurrency Rate \| Maximum
Debt Instrument [Line Items]
Basis spread on variable rate	1.90%
Term Loan Facility \| Credit Agreement — Term Loan Facility \| Base Rate
Debt Instrument [Line Items]
Interest rate as of period end	0.25%
Term Loan Facility \| Credit Agreement — Term Loan Facility \| Base Rate \| Minimum
Debt Instrument [Line Items]
Basis spread on variable rate	0.125%
Term Loan Facility \| Credit Agreement — Term Loan Facility \| Base Rate \| Maximum
Debt Instrument [Line Items]
Basis spread on variable rate	0.90%

Leases - Right-of-Use Assets and Lease Obligations (Details) - USD ($) $ in Millions	Oct. 03, 2020	Dec. 31, 2019
Leases [Abstract]
Operating Lease, Right-of-Use Asset, Statement of Financial Position [Extensible List]	us-gaap:OtherAssetsNoncurrent
Right-of-use assets under operating leases:
Other long-term assets	$ 539.4	$ 527.0
Lease obligations under operating leases:
Accrued liabilities	113.2	113.9
Other long-term liabilities	439.0	422.4
Lease obligations under operating leases	$ 552.2	$ 536.3
Operating Lease, Liability, Current, Statement of Financial Position [Extensible List]	us-gaap:AccruedLiabilitiesCurrent
Operating Lease, Liability, Noncurrent, Statement of Financial Position [Extensible List]	us-gaap:OtherLiabilitiesNoncurrent

Leases - Maturity of Lease Obligations (Details) - USD ($) $ in Millions	Oct. 03, 2020	Dec. 31, 2019
Leases [Abstract]
2020	$ 35.9
2021	129.6
2022	103.7
2023	81.6
2024	67.3
Thereafter	220.8
Total undiscounted cash flows	638.9
Less: Imputed interest	(86.7)
Lease obligations under operating leases	$ 552.2	$ 536.3

Leases - Narrative (Details) $ in Millions	9 Months Ended
Leases - Narrative (Details) $ in Millions	Oct. 03, 2020 USD ($) lease_contract
Leases [Abstract]
Number of lease agreements \| lease_contract	1
Lease not yet commenced, term of contract	10 years
Lease not yet commenced	$ 50.0
Impairment of right of use assets	$ 2.0

Leases - Cash Flow Information Related to Operating Leases (Details) - USD ($) $ in Millions	9 Months Ended
	Oct. 03, 2020	Sep. 28, 2019
Non-cash activity:
Right of use assets obtained in exchange for operating lease obligations	$ 116.2	$ 177.1
Operating cash flows:
Cash paid related to operating lease obligations	$ 106.3	$ 104.0

Leases - Lease Expense (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
Leases - Lease Expense (Details) - USD ($) $ in Millions	Oct. 03, 2020	Sep. 28, 2019	Oct. 03, 2020	Sep. 28, 2019
Leases [Abstract]
Operating lease expense	$ 38.6	$ 36.9	$ 110.2	$ 104.4
Short-term lease expense	3.3	3.1	11.3	12.1
Variable lease expense	2.2	1.4	5.9	3.2
Total lease expense	$ 44.1	$ 41.4	$ 127.4	$ 119.7

Leases - Weighted Average Lease Term and Discount Rate (Details)	Oct. 03, 2020
Leases [Abstract]
Weighted average remaining lease term (in years)	6 years 10 months 24 days
Weighted average discount rate	3.40%

Pension and Other Postretirement Benefit Plans - Components of Net Periodic Benefit (Credit) Costs (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Oct. 03, 2020	Sep. 28, 2019	Oct. 03, 2020	Sep. 28, 2019
Pension
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Settlement loss	$ (10.2)		$ (10.2)
Pension \| U.S.
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Service cost	0.1	$ 0.0	0.1	$ 0.0
Interest cost	4.1	4.6	12.3	13.9
Expected return on plan assets	(5.4)	(5.0)	(16.0)	(15.1)
Amortization of actuarial loss (gain)	0.6	0.5	1.7	1.4
Settlement loss	0.0	0.0	0.3	0.1
Net periodic benefit (credit) cost	(0.6)	0.1	(1.6)	0.3
Pension \| Foreign
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Service cost	1.2	1.5	3.6	4.7
Interest cost	3.1	3.7	9.2	11.0
Expected return on plan assets	(4.9)	(5.2)	(14.8)	(15.6)
Amortization of actuarial loss (gain)	1.2	1.9	3.5	5.8
Settlement loss	10.2	0.0	10.2	0.0
Net periodic benefit (credit) cost	10.8	1.9	11.7	5.9
Other postretirement \| U.S.
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Service cost	0.0	0.0	0.0	0.0
Interest cost	0.5	0.5	1.3	1.6
Amortization of actuarial loss (gain)	(0.4)	(0.6)	(1.2)	(1.7)
Amortization of prior service credit	0.0	0.0	(0.1)	(0.1)
Net periodic benefit (credit) cost	0.1	(0.1)	0.0	(0.2)
Other postretirement \| Foreign
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Service cost	0.0	0.1	0.0	0.2
Interest cost	0.2	0.3	0.6	1.0
Amortization of actuarial loss (gain)	0.0	0.0	0.0	0.0
Amortization of prior service credit	0.0	0.0	0.0	(0.1)
Net periodic benefit (credit) cost	$ 0.2	$ 0.4	$ 0.6	$ 1.1

Pension and Other Postretirement Benefit Plans - Narrative (Details) - Pension $ in Millions	3 Months Ended	9 Months Ended
	Oct. 03, 2020 USD ($)	Oct. 03, 2020 USD ($)
Defined Benefit Plan Disclosure [Line Items]
Settlement loss	$ 10.2	$ 10.2
Employer's contribution towards defined benefit plan		10.7
Minimum
Defined Benefit Plan Disclosure [Line Items]
Estimated employer's contribution towards defined benefit plan in current year	10.0	10.0
Maximum
Defined Benefit Plan Disclosure [Line Items]
Estimated employer's contribution towards defined benefit plan in current year	$ 20.0	$ 20.0

- Definition

Amount of contribution received by defined benefit plan from employer which increases plan assets.

+ References + Details

Revenue Recognition - Narrative (Details) - USD ($) $ in Millions	9 Months Ended
	Oct. 03, 2020	Dec. 31, 2019
Revenue From Contract With Customer [Abstract]
Percentage of net sales to prior years revenue	1.00%
Significant contract liabilities recorded	$ 0	$ 0
Significant contract liabilities recognized in revenue	$ 0

Revenue Recognition - Summary of Revenue by Reportable Operating Segment and Geography (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Oct. 03, 2020	Sep. 28, 2019	Oct. 03, 2020	Sep. 28, 2019
Disaggregation of Revenue [Line Items]
Revenues from external customers	$ 4,900.1	$ 4,825.0	$ 11,802.3	$ 14,992.7
Seating
Disaggregation of Revenue [Line Items]
Revenues from external customers	3,691.6	3,715.0	8,813.1	11,468.1
E-Systems
Disaggregation of Revenue [Line Items]
Revenues from external customers	1,208.5	1,110.0	2,989.2	3,524.6
North America
Disaggregation of Revenue [Line Items]
Revenues from external customers	2,039.7	1,877.0	4,660.8	5,625.5
North America \| Seating
Disaggregation of Revenue [Line Items]
Revenues from external customers	1,706.2	1,626.5	3,894.7	4,815.5
North America \| E-Systems
Disaggregation of Revenue [Line Items]
Revenues from external customers	333.5	250.5	766.1	810.0
Europe and Africa
Disaggregation of Revenue [Line Items]
Revenues from external customers	1,705.1	1,786.9	4,281.3	5,957.7
Europe and Africa \| Seating
Disaggregation of Revenue [Line Items]
Revenues from external customers	1,214.0	1,291.2	3,000.1	4,307.0
Europe and Africa \| E-Systems
Disaggregation of Revenue [Line Items]
Revenues from external customers	491.1	495.7	1,281.2	1,650.7
Asia
Disaggregation of Revenue [Line Items]
Revenues from external customers	1,004.4	980.3	2,521.6	2,901.8
Asia \| Seating
Disaggregation of Revenue [Line Items]
Revenues from external customers	661.1	667.6	1,676.4	1,978.2
Asia \| E-Systems
Disaggregation of Revenue [Line Items]
Revenues from external customers	343.3	312.7	845.2	923.6
South America
Disaggregation of Revenue [Line Items]
Revenues from external customers	150.9	180.8	338.6	507.7
South America \| Seating
Disaggregation of Revenue [Line Items]
Revenues from external customers	110.3	129.7	241.9	367.4
South America \| E-Systems
Disaggregation of Revenue [Line Items]
Revenues from external customers	$ 40.6	$ 51.1	$ 96.7	$ 140.3

- Definition

Amount, excluding tax collected from customer, of revenue from satisfaction of performance obligation by transferring promised good or service to customer. Tax collected from customer is tax assessed by governmental authority that is both imposed on and concurrent with specific revenue-producing transaction, including, but not limited to, sales, use, value added and excise.

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+ Details

Other Expense, Net - Summary of Other Expense, Net (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Oct. 03, 2020	Sep. 28, 2019	Oct. 03, 2020	Sep. 28, 2019
Other Income And Expenses [Abstract]
Other expense	$ 20.3	$ 13.7	$ 61.2	$ 41.7
Other income	(3.2)	(4.0)	(6.8)	(13.8)
Other expense, net	$ 17.1	$ 9.7	$ 54.4	$ 27.9

Other Expense, Net - Narrative (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Oct. 03, 2020	Sep. 28, 2019	Oct. 03, 2020	Sep. 28, 2019
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Net foreign currency transaction losses	$ 5.5	$ 9.3	$ 22.2	$ 16.5
Loss on extinguishment of debt			21.1	10.6
Gain from deconsolidation of GACC		$ 4.0		$ 4.0
Pension
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Settlement loss	$ 10.2		$ 10.2

Income Taxes - Provision for Income Taxes (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Oct. 03, 2020	Sep. 28, 2019	Oct. 03, 2020	Sep. 28, 2019
Income Tax Disclosure [Abstract]
Provision for income taxes	$ 44.6	$ 33.5	$ 30.1	$ 149.9
Pretax income before equity in net income of affiliates	$ 235.2	$ 267.0	$ 25.4	$ 820.8
Effective tax rate	19.00%	12.50%	118.50%	18.30%

- Definition

Amount of current income tax expense (benefit) and deferred income tax expense (benefit) pertaining to continuing operations.

+ References + Details

Income Taxes - Tax Benefits (Expense) (Details) - USD ($) $ in Millions	9 Months Ended
	Oct. 03, 2020	Sep. 28, 2019
Income Tax Disclosure [Abstract]
Restructuring charges and various other items	$ 20.7	$ 35.7
Valuation allowances on deferred tax assets	(12.2)	(10.4)
Share-based compensation	0.0	3.1
Change in tax status of certain affiliates	0.0	18.4
Research and development tax credits	5.0	28.6
Income tax benefits (expense) related to significant discrete items	$ 13.5	$ 75.4

Net Income (Loss) Per Share Attributable to Lear (Details) - USD ($) $ / shares in Units, $ in Millions	3 Months Ended		9 Months Ended
	Oct. 03, 2020	Sep. 28, 2019	Oct. 03, 2020	Sep. 28, 2019
Earnings Per Share [Abstract]
Net income (loss) attributable to Lear	$ 174.4	$ 215.9	$ (43.1)	$ 627.6
Redeemable noncontrolling interest adjustment		3.6		9.4
Net income (loss) available to Lear common stockholders	$ 174.4	$ 219.5	$ (43.1)	$ 637.0
Average common shares outstanding	60,159,356	61,133,723	60,260,886	62,042,156
Dilutive effect of common stock equivalents	171,585	196,363		220,747
Average diluted shares outstanding	60,330,941	61,330,086	60,260,886	62,262,903
Basic net income (loss) per share available to Lear common stockholders	$ 2.90	$ 3.59	$ (0.72)	$ 10.27
Diluted net income (loss) per share available to Lear common stockholders	$ 2.89	$ 3.58	$ (0.72)	$ 10.23

- Definition

The amount of net income (loss) for the period per each share of common stock or unit outstanding during the reporting period.

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- Definition

The amount of net income (loss) for the period available to each share of common stock or common unit outstanding during the reporting period and to each share or unit that would have been outstanding assuming the issuance of common shares or units for all dilutive potential common shares or units outstanding during the reporting period.

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+ Details

- Definition

Amount, after deduction of tax, noncontrolling interests, dividends on preferred stock and participating securities; of income (loss) available to common shareholders.

+ References

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+ Details

Comprehensive Income (Loss) and Equity - Summary of Changes, Net of Tax, in Accumulated Other Comprehensive Loss (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Oct. 03, 2020	Sep. 28, 2019	Oct. 03, 2020	Sep. 28, 2019
Accumulated Other Comprehensive Income (Loss) [Line Items]
Balance at beginning of period	$ 3,983.2	$ 4,399.5	$ 4,501.1	$ 4,360.6
Balance at end of period	4,276.1	4,375.1	4,276.1	4,375.1
Defined benefit plans
Accumulated Other Comprehensive Income (Loss) [Line Items]
Balance at beginning of period	(211.7)	(173.9)	(217.6)	(172.8)
Reclassification adjustments	11.0	1.5	13.1	4.7
Other comprehensive income (loss) recognized during the period	(29.7)	(4.6)	(25.9)	(8.9)
Balance at end of period	(230.4)	(177.0)	(230.4)	(177.0)
Reclassification adjustments, tax expense (benefit)	0.6	0.4	1.3	0.8
Other comprehensive income (loss) recognized during the period, tax (expense) benefit	5.4	1.6	5.4	1.6
Derivative instruments and hedging
Accumulated Other Comprehensive Income (Loss) [Line Items]
Balance at beginning of period	(50.4)	(1.2)	9.8	(9.7)
Reclassification adjustments	3.9	(8.4)	9.2	(25.5)
Other comprehensive income (loss) recognized during the period	14.8	(3.9)	(50.7)	21.7
Balance at end of period	(31.7)	(13.5)	(31.7)	(13.5)
Reclassification adjustments, tax expense (benefit)	0.1	(2.4)	1.8	(7.2)
Other comprehensive income (loss) recognized during the period, tax (expense) benefit	(6.3)	1.1	9.6	(6.2)
Foreign currency translation
Accumulated Other Comprehensive Income (Loss) [Line Items]
Balance at beginning of period	(660.9)	(523.1)	(564.9)	(523.3)
Other comprehensive income (loss) recognized during the period	83.3	(115.7)	(12.7)	(115.5)
Balance at end of period	(577.6)	(638.8)	(577.6)	(638.8)
Other comprehensive income (loss) recognized during the period, tax (expense) benefit	2.9	0.0	0.7	0.0
Total accumulated other comprehensive loss
Accumulated Other Comprehensive Income (Loss) [Line Items]
Balance at end of period	$ (839.7)	$ (829.3)	$ (839.7)	$ (829.3)

Comprehensive Income (Loss) and Equity - Narrative (Details) $ / shares in Units, ¥ in Millions	3 Months Ended					9 Months Ended		117 Months Ended
	Dec. 31, 2020 USD ($)	Dec. 31, 2020 CNY (¥)	Oct. 03, 2020 USD ($)	Apr. 04, 2020 $ / shares	Sep. 28, 2019 USD ($) $ / shares	Oct. 03, 2020 USD ($) $ / shares	Sep. 28, 2019 USD ($) $ / shares	Oct. 03, 2020 USD ($) $ / shares	Jul. 04, 2020	Apr. 02, 2011 USD ($)
Accumulated Other Comprehensive Income (Loss) [Line Items]
Foreign currency translation adjustments related to intercompany transactions (gains) losses			$ (500,000)		$ 300,000	$ 500,000	$ 200,000
Aggregate purchases authorized under common stock share repurchase program										$ 6,100,000,000
Aggregate Repurchases					$ 75,900,000	$ 70,000,000.0	$ 355,400,000	$ 4,700,000,000
Average price (in dollars per share) \| $ / shares					$ 123.06	$ 109.22	$ 136.48	$ 90.07
Cash dividends declared per share \| $ / shares				$ 0.77	$ 0.75	$ 0.77	$ 2.25
Shanghai Lear STEC Automotive Parts Co., Ltd
Accumulated Other Comprehensive Income (Loss) [Line Items]
Ownership percentage by noncontrolling owners									45.00%
Forecast
Accumulated Other Comprehensive Income (Loss) [Line Items]
Percentage of undistributed retained earnings to be paid at closing	50.00%	50.00%
Forecast \| Shanghai Lear STEC Automotive Parts Co., Ltd
Accumulated Other Comprehensive Income (Loss) [Line Items]
Payments for repurchase of redeemable noncontrolling interest	$ 92,200,000	¥ 626.0
Forecast \| Shanghai Lear STEC Automotive Parts Co., Ltd \| Retained Earnings
Accumulated Other Comprehensive Income (Loss) [Line Items]
Payments for repurchase of redeemable noncontrolling interest	$ 25,800,000	¥ 175.5

Comprehensive Income (Loss) and Equity - Common Stock Repurchase Program (Details) - USD ($) $ / shares in Units, $ in Millions	3 Months Ended	9 Months Ended		117 Months Ended
	Sep. 28, 2019	Oct. 03, 2020	Sep. 28, 2019	Oct. 03, 2020
Equity [Abstract]
Aggregate Repurchases	$ 75.9	$ 70.0	$ 355.4	$ 4,700.0
Cash paid for Repurchases		$ 70.0	$ 359.7
Number of shares repurchased (in shares)	616,635	641,149	2,603,881
Average price (in dollars per share)	$ 123.06	$ 109.22	$ 136.48	$ 90.07
Remaining Purchase Authorization		$ 1,430.0		$ 1,430.0

Comprehensive Income (Loss) and Equity - Dividends Declared and Paid (Details) - USD ($) $ in Millions	3 Months Ended	9 Months Ended
	Sep. 28, 2019	Oct. 03, 2020	Sep. 28, 2019
Equity [Abstract]
Dividends declared	$ 45.7	$ 46.8	$ 140.3
Dividends paid		$ 52.0	$ 141.1

Legal and Other Contingencies - Narrative (Details) - USD ($) $ in Millions	Oct. 03, 2020	Dec. 31, 2019
Commitments And Contingencies Disclosure [Abstract]
Reserves for pending legal disputes, including commercial disputes and other matters	$ 16.3	$ 14.0
Environmental reserves	$ 8.8	$ 9.3

Legal and Other Contingencies - Summary of Product Liability and Warranty Claims (Details) $ in Millions	9 Months Ended
	Oct. 03, 2020 USD ($)
Movement in Standard Product Warranty Accrual [Roll Forward]
Balance at January 1, 2020	$ 32.0
Expense, net (including changes in estimates)	20.1
Settlements	(7.0)
Foreign currency translation and other	(0.4)
Balance at October 3, 2020	$ 44.7

Segment Reporting - Narrative (Details) $ in Millions	3 Months Ended		9 Months Ended
Segment Reporting - Narrative (Details) $ in Millions	Oct. 03, 2020 USD ($)	Sep. 28, 2019 USD ($)	Oct. 03, 2020 USD ($) segment	Sep. 28, 2019 USD ($)
Segment Reporting Information [Line Items]
Reportable operating segments \| segment			2
Restructuring charges			$ 109.1
Seating
Segment Reporting Information [Line Items]
Additional restructuring costs expected to occur	$ 23.0		23.0
E-Systems
Segment Reporting Information [Line Items]
Additional restructuring costs expected to occur	7.0		7.0
Operating Segments \| Seating
Segment Reporting Information [Line Items]
Restructuring charges	33.6	$ 18.2	59.3	$ 91.7
Operating Segments \| E-Systems
Segment Reporting Information [Line Items]
Restructuring charges	5.0	9.0	46.2	26.2
Corporate And Eliminations
Segment Reporting Information [Line Items]
Restructuring charges	$ 0.3	$ 0.7	$ 0.9	$ 1.0

Segment Reporting - Summary of Revenues from External Customers and Other Financial Information by Reportable Operating Segment (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Oct. 03, 2020	Sep. 28, 2019	Oct. 03, 2020	Sep. 28, 2019	Dec. 31, 2019
Segment Reporting Information [Line Items]
Revenues from external customers	$ 4,900.1	$ 4,825.0	$ 11,802.3	$ 14,992.7
Segment earnings	278.8	300.7	157.9	918.1
Depreciation and amortization	136.3	128.5	397.1	380.4
Capital expenditures	90.1	150.8	285.3	410.1
Total assets	12,894.7	12,753.3	12,894.7	12,753.3	$ 12,680.7
Seating
Segment Reporting Information [Line Items]
Revenues from external customers	3,691.6	3,715.0	8,813.1	11,468.1
E-Systems
Segment Reporting Information [Line Items]
Revenues from external customers	1,208.5	1,110.0	2,989.2	3,524.6
Operating Segments \| Seating
Segment Reporting Information [Line Items]
Revenues from external customers	3,691.6	3,715.0	8,813.1	11,468.1
Segment earnings	250.7	281.5	320.4	817.0
Depreciation and amortization	87.8	82.1	255.1	248.4
Capital expenditures	48.8	86.0	162.0	246.2
Total assets	7,574.2	7,575.3	7,574.2	7,575.3
Operating Segments \| E-Systems
Segment Reporting Information [Line Items]
Revenues from external customers	1,208.5	1,110.0	2,989.2	3,524.6
Segment earnings	86.0	74.3	5.0	287.3
Depreciation and amortization	44.8	42.5	130.5	120.2
Capital expenditures	40.2	59.8	119.0	151.4
Total assets	3,232.4	3,078.8	3,232.4	3,078.8
Corporate And Eliminations
Segment Reporting Information [Line Items]
Segment earnings	(57.9)	(55.1)	(167.5)	(186.2)
Depreciation and amortization	3.7	3.9	11.5	11.8
Capital expenditures	1.1	5.0	4.3	12.5
Total assets	$ 2,088.1	$ 2,099.2	$ 2,088.1	$ 2,099.2

Segment Reporting - Reconciliation of Segment Earnings to Consolidated Income Before Provision for Income Taxes and Equity (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Oct. 03, 2020	Sep. 28, 2019	Oct. 03, 2020	Sep. 28, 2019
Segment Reporting [Abstract]
Segment earnings	$ 278.8	$ 300.7	$ 157.9	$ 918.1
Interest expense	26.5	24.0	78.1	69.4
Other expense, net	17.1	9.7	54.4	27.9
Consolidated income before provision for income taxes and equity in net income of affiliates	$ 235.2	$ 267.0	$ 25.4	$ 820.8

Financial Instruments - Estimated Aggregate Fair Value and Carrying Value of Debt Instruments (Details) - USD ($) $ in Millions	Oct. 03, 2020	Dec. 31, 2019
Estimated aggregate fair value
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Debt instruments	$ 2,454.4	$ 2,384.6
Aggregate carrying value
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Debt instruments	$ 2,325.0	$ 2,334.4

Financial Instruments - Reconciliation of Cash, Cash Equivalents and Restricted Cash (Details) - USD ($) $ in Millions	Oct. 03, 2020	Dec. 31, 2019	Sep. 28, 2019	Dec. 31, 2018
Fair Value Disclosures [Abstract]
Balance sheet - cash and cash equivalents	$ 1,250.4	$ 1,487.7	$ 1,300.9
Restricted cash included in other current assets	5.1		15.6
Restricted cash included in other long-term assets	2.7		6.8
Statement of cash flows - cash, cash equivalents and restricted cash	$ 1,258.2	$ 1,510.4	$ 1,323.3	$ 1,519.8

Financial Instruments - Narrative (Details) - USD ($)	3 Months Ended		9 Months Ended
Financial Instruments - Narrative (Details) - USD ($)	Oct. 03, 2020	Sep. 28, 2019	Oct. 03, 2020	Sep. 28, 2019	Jan. 01, 2020	Dec. 31, 2019
Derivative [Line Items]
Retained earnings	$ 4,620,700,000		$ 4,620,700,000			$ 4,715,800,000
Accounts receivable, reserves	34,400,000		34,400,000			36,000,000.0
Investments in equity securities without readily determinable fair values	15,200,000		15,200,000			15,200,000
Interest expense	26,500,000	$ 24,000,000.0	78,100,000	$ 69,400,000
Derivative contracts classified within Level 3 of fair value hierarchy	0		0			0
Derivative contracts transfers in to Level 3 fair value hierarchy			0
Fair value of plan assets	274,400,000		274,400,000
Level 1
Derivative [Line Items]
Fair value of plan assets	60,300,000		60,300,000
Level 2
Derivative [Line Items]
Fair value of plan assets	184,200,000		184,200,000
Net Asset Value
Derivative [Line Items]
Fair value of plan assets	29,900,000		29,900,000
Foreign currency contracts \| Designated as hedging instrument \| Derivative instruments and hedging
Derivative [Line Items]
Pretax gains (losses) related to derivative instruments and hedging activities in accumulated other comprehensive loss	$ (33,400,000)		(33,400,000)			$ 19,400,000
Net investment hedges \| Interest rate swap contracts \| Designated as hedging instrument
Derivative [Line Items]
Interest expense			$ 4,900,000
Cumulative Effect, Period of Adoption, Adjustment \| ASU 2016-13
Derivative [Line Items]
Retained earnings					$ (800,000)
Accounts receivable, reserves					$ 800,000

Financial Instruments - Marketable Equity Securities (Details) - Marketable Equity Securities - USD ($) $ in Millions	Oct. 03, 2020	Dec. 31, 2019
Debt and Equity Securities, FV-NI [Line Items]
Current assets	$ 8.9	$ 17.1
Other long-term assets	41.9	42.1
Marketable equity securities	$ 50.8	$ 59.2

Financial Instruments - Notional Amount, Estimated Aggregate Fair Value and Related Balance Sheet Classification of Foreign Currency Derivative Contracts (Details) - USD ($) $ in Millions	9 Months Ended	12 Months Ended
	Oct. 03, 2020	Dec. 31, 2019
Derivatives, Fair Value [Line Items]
Total fair value	$ (11.1)	$ 45.9
Notional amount	3,254.0	2,462.8
Foreign currency contracts \| Designated as hedging instrument \| Cash flow hedge
Derivatives, Fair Value [Line Items]
Other current assets	15.0	44.0
Other long-term assets	5.8	7.3
Other current liabilities	(21.6)	(4.5)
Other long-term liabilities	(3.7)	(0.2)
Total fair value	(4.5)	46.6
Notional amount	$ 1,225.4	$ 1,465.8
Foreign currency contracts \| Designated as hedging instrument \| Cash flow hedge \| Maximum
Derivatives, Fair Value [Line Items]
Outstanding maturities in months, not to exceed	24 months	24 months
Foreign currency contracts \| Not designated as hedging instrument
Derivatives, Fair Value [Line Items]
Other current assets	$ 7.2	$ 6.9
Other current liabilities	(5.9)	(3.2)
Total fair value	1.3	3.7
Notional amount	$ 1,728.6	$ 697.0
Foreign currency contracts \| Not designated as hedging instrument \| Maximum
Derivatives, Fair Value [Line Items]
Outstanding maturities in months, not to exceed	15 months	12 months
Interest rate swap contracts \| Designated as hedging instrument \| Net investment hedges
Derivatives, Fair Value [Line Items]
Other long-term liabilities	$ (7.9)	$ (4.4)
Notional amount	$ 300.0	$ 300.0
Interest rate swap contracts \| Designated as hedging instrument \| Net investment hedges \| Maximum
Derivatives, Fair Value [Line Items]
Outstanding maturities in months, not to exceed	48 months	57 months

Financial Instruments - Pretax Amounts Recognized in and Reclassified from Accumulated Other Comprehensive Loss (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Oct. 03, 2020	Sep. 28, 2019	Oct. 03, 2020	Sep. 28, 2019
Derivative [Line Items]
Gains (losses) recognized in accumulated other comprehensive loss	$ 7.2	$ (3.3)	$ (63.8)	$ 29.6
(Gains) losses reclassified from accumulated other comprehensive loss	4.0	(10.7)	11.0	(32.3)
Comprehensive income (loss)	11.2	(14.0)	(52.8)	(2.7)
Net sales
Derivative [Line Items]
(Gains) losses reclassified from accumulated other comprehensive loss	(0.2)	1.3	(0.7)	2.3
Cost of sales
Derivative [Line Items]
(Gains) losses reclassified from accumulated other comprehensive loss	3.5	(12.6)	10.0	(35.5)
Interest expense
Derivative [Line Items]
(Gains) losses reclassified from accumulated other comprehensive loss	0.6	0.6	1.8	0.9
Other expense, net
Derivative [Line Items]
(Gains) losses reclassified from accumulated other comprehensive loss	0.1	0.0	(0.1)	0.0
Foreign currency contracts
Derivative [Line Items]
Gains (losses) recognized in accumulated other comprehensive loss	21.1	(5.0)	(60.3)	37.4
Net investment hedge contracts
Derivative [Line Items]
Gains (losses) recognized in accumulated other comprehensive loss	(13.9)	1.7	(3.5)	1.7
Interest rate swap contracts
Derivative [Line Items]
Gains (losses) recognized in accumulated other comprehensive loss	$ 0.0	$ 0.0	$ 0.0	$ (9.5)

Financial Instruments - Net Losses Expected to be Reclassified into Earnings (Details) $ in Millions	9 Months Ended
	Oct. 03, 2020 USD ($)
Fair Value Disclosures [Abstract]
Net losses related to foreign currency contracts	$ 6.6
Net losses related to interest rate swap contracts	2.4
Total	$ 9.0

Financial Instruments - Fair Value Measurements and Related Valuation Techniques and Fair Value Hierarchy Level (Details) - USD ($) $ in Millions	Oct. 03, 2020	Dec. 31, 2019
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Asset (Liability)	$ (11.1)	$ 45.9
Recurring
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Marketable equity securities	50.8	59.2
Recurring \| Level 1
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Marketable equity securities	50.8	59.2
Recurring \| Level 2
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Marketable equity securities	0.0	0.0
Recurring \| Level 3
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Marketable equity securities	0.0	0.0
Recurring \| Net investment hedges
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Asset (Liability)	(7.9)	(4.4)
Recurring \| Net investment hedges \| Level 1
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Asset (Liability)	0.0	0.0
Recurring \| Net investment hedges \| Level 2
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Asset (Liability)	(7.9)	(4.4)
Recurring \| Net investment hedges \| Level 3
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Asset (Liability)	0.0	0.0
Recurring \| Foreign currency contracts
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Asset (Liability)	(3.2)	50.3
Recurring \| Foreign currency contracts \| Level 1
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Asset (Liability)	0.0	0.0
Recurring \| Foreign currency contracts \| Level 2
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Asset (Liability)	(3.2)	50.3
Recurring \| Foreign currency contracts \| Level 3
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Asset (Liability)	$ 0.0	$ 0.0