0000842162-24-000008 | 10-K | XBRL Viewer

Print Document View Excel Document

Acquisitions - Narrative (Details) $ in Millions			12 Months Ended
Acquisitions - Narrative (Details) $ in Millions	Apr. 26, 2023 USD ($) employee plant country	Feb. 28, 2022 USD ($)	Dec. 31, 2023 USD ($)	Dec. 31, 2022 USD ($)
Business Acquisition
Weighted Average Useful Life (years)			11 years	11 years
Kongsberg Automotives Interior Comfort Division
Business Acquisition
Annual sales		$ 300.0
Intersegment Eliminations \| Revenue Benchmark \| Customer Concentration Risk \| Kongsberg Automotives Interior Comfort Division
Business Acquisition
Concentration risk percentage (more than)		20.00%
Customer-based
Business Acquisition
Weighted Average Useful Life (years)			12 years	12 years
I.G. Bauerhin
Business Acquisition
Business combination, number of employees \| employee	4,600
Business combination, number of manufacturing plants \| plant	9
Number of countries operated \| country	7
Annual sales	$ 290.0
Transaction costs			$ 0.5	$ 1.2
I.G. Bauerhin \| Developed Technology Rights
Business Acquisition
Weighted Average Useful Life (years)			9 years
I.G. Bauerhin \| Customer-based
Business Acquisition
Weighted Average Useful Life (years)			13 years
Kongsberg Automotives Interior Comfort Division
Business Acquisition
Transaction costs				$ 10.0
Kongsberg Automotives Interior Comfort Division \| Developed Technology Rights
Business Acquisition
Weighted Average Useful Life (years)			17 years

Debt - 2027 Notes (Details) - USD ($)	1 Months Ended	12 Months Ended
Debt - 2027 Notes (Details) - USD ($)	Nov. 30, 2021	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2017
Debt Instrument
Proceeds from the issuance of senior notes		$ 0	$ 0	$ 698,700,000
Payments of related issuance costs	$ 2,800,000	1,200,000	0	9,900,000
Loss on extinguishment of debt		$ 0	$ 0	24,600,000
Senior Notes
Debt Instrument
Payments of related issuance costs				$ 7,100,000
Senior Notes \| 2027 Notes
Debt Instrument
Aggregate principal amount	200,000,000				$ 750,000,000
Stated interest rate		3.80%			3.80%
Stated coupon rate					99.294%
Yield to maturity			3.885%		3.885%
Proceeds from the issuance of senior notes					$ 744,700,000
Make-whole premium	21,000,000
Repurchase amount	221,500,000
Payments of related issuance costs	500,000
Loss on extinguishment of debt	$ 23,900,000
Senior Notes \| 2027 Notes \| Prior to June 15, 2027
Debt Instrument
Stated coupon rate					100.00%
Senior Notes \| 2027 Notes \| On or After June 15, 2027
Debt Instrument
Stated coupon rate					100.00%
Senior Notes \| 2023 Notes
Debt Instrument
Aggregate principal amount					$ 500,000,000
Stated coupon rate					100.00%
Make-whole premium					$ 17,000,000
Credit Agreement \| Prior Term Loan Facility \| Term Loan Facility
Debt Instrument
Aggregate principal amount					$ 500,000,000

Legal and Other Contingencies - Summary of Changes in Reserves for Product Liability and Warranty Claims (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022
Movement in Standard Product Warranty Accrual
Beginning balance	$ 30.4	$ 46.0
Expense, net (including changes in estimates)	9.5	6.6
Settlements	(13.2)	(19.6)
Foreign currency translation and other	5.7	(2.6)
Ending balance	$ 32.4	$ 30.4

Investments in Affiliates and Other Related Party Transactions - Amounts Recorded in Consolidated Balance Sheet for Affiliates (Details) - USD ($) $ in Millions	Dec. 31, 2023	Dec. 31, 2022
Related Party Transaction
Aggregate investment in affiliates	$ 217.1	$ 196.7
Receivables due from affiliates (including notes and advances)	3,681.2	3,451.9
Payables due to affiliates	3,434.2	3,206.1
Affiliated Entity
Related Party Transaction
Receivables due from affiliates (including notes and advances)	170.7	182.5
Payables due to affiliates	$ 0.5	$ 0.7

Debt (Tables)

12 Months Ended

Dec. 31, 2023

Debt Disclosure [Abstract]

Summary of Long-Term Debt and Related Weighted Average Interest Rates

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):


December 31,	2023
Debt Instrument	Long-Term Debt		Unamortized Debt Issuance Costs		Unamortized Original Issue Premium (Discount)		Long-Term Debt, Net		Weighted Average Interest Rate
Delayed-Draw Term Loan Facility (the "Term Loan")	$	150.0	$	(0.5)	$	—	$	149.5	6.575%
3.8% Senior Notes due 2027 (the "2027 Notes")	550.0		(1.6)		(1.4)		547.0		3.885%
4.25% Senior Notes due 2029 (the "2029 Notes")	375.0		(1.7)		(0.6)		372.7		4.288%
3.5% Senior Notes due 2030 (the "2030 Notes")	350.0		(1.8)		(0.5)		347.7		3.525%
2.6% Senior Notes due 2032 (the "2032 Notes")	350.0		(2.5)		(0.7)		346.8		2.624%
5.25% Senior Notes due 2049 (the "2049 Notes")	625.0		(5.6)		12.6		632.0		5.103%
3.55% Senior Notes due 2052 (the "2052 Notes")	350.0		(3.7)		(0.4)		345.9		3.558%
Other	1.3		—		—		1.3		N/A
	$	2,751.3	$	(17.4)	$	9.0	2,742.9
Less — Current portion							(0.3)
Long-term debt							$	2,742.6


December 31,	2022
Debt Instrument	Long-Term Debt		Unamortized Debt Issuance Costs		Unamortized Original Issue Premium (Discount)		Long-Term Debt, Net		Weighted Average Interest Rate
2027 Notes	$	550.0	$	(2.1)	$	(1.8)	$	546.1	3.885%
2029 Notes	375.0		(2.0)		(0.7)		372.3		4.288%
2030 Notes	350.0		(2.0)		(0.6)		347.4		3.525%
2032 Notes	350.0		(2.8)		(0.7)		346.5		2.624%
2049 Notes	625.0		(6.0)		13.2		632.2		5.103%
2052 Notes	350.0		(3.8)		(0.5)		345.7		3.558%
Other	11.8		—		—		11.8		N/A
	$	2,611.8	$	(18.7)	$	8.9	2,602.0
Less — Current portion							(10.8)
Long-term debt							$	2,591.2

Senior Notes

The issuance, maturity and interest payment dates of the Company's senior unsecured 2027 Notes, 2029 Notes, 2030 Notes, 2032 Notes, 2049 Notes and 2052 Notes (collectively, the "Notes") are shown below:

Note

Issuance Date

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

2032 Notes

November 2021

January 15, 2032

January 15 and July 15

2049 Notes

May 2019 and February 2020

May 15, 2049

May 15 and November 15

2052 Notes

November 2021

January 15, 2052

January 15 and July 15

Schedule of Credit Agreement Interest Rate Ranges

As of December 31, 2023, the ranges and rates are as follows (in percentages):


	Term Benchmark, Central Bank Rate and RFR Loans						ABR and Canadian Prime Rate Loans
	Minimum		Maximum		Rate as of December 31, 2023		Minimum		Maximum		Rate as of December 31, 2023
Credit Agreement	0.925	%	1.450	%	1.125	%	0.000	%	0.450	%	0.125	%

- 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://www.xbrl.org/2003/role/exampleRef
-Topic 470
-SubTopic 20
-Name Accounting Standards Codification
-Section 55
-Paragraph 69B
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481568/470-20-55-69B

Reference 2: http://www.xbrl.org/2003/role/exampleRef
-Topic 470
-SubTopic 20
-Name Accounting Standards Codification
-Section 55
-Paragraph 69E
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481568/470-20-55-69E

Reference 3: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 235
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 3
-Subparagraph (SX 210.12-04(a))
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480678/235-10-S99-3

Reference 4: http://fasb.org/us-gaap/role/ref/legacyRef
-Name Accounting Standards Codification
-Topic 835
-SubTopic 30
-Section 45
-Paragraph 2
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482925/835-30-45-2

Reference 5: http://fasb.org/us-gaap/role/ref/legacyRef
-Name Accounting Standards Codification
-Topic 835
-SubTopic 30
-Section 45
-Paragraph 1A
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482925/835-30-45-1A

Reference 6: http://fasb.org/us-gaap/role/ref/legacyRef
-Name Accounting Standards Codification
-Topic 505
-SubTopic 10
-Section 50
-Paragraph 3
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481112/505-10-50-3

Reference 7: http://fasb.org/us-gaap/role/ref/legacyRef
-Name Accounting Standards Codification
-Topic 210
-SubTopic 10
-Section S99
-Paragraph 1
-Subparagraph (SX 210.5-02.22)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480566/210-10-S99-1

Reference 8: http://fasb.org/us-gaap/role/ref/legacyRef
-Name Accounting Standards Codification
-Topic 835
-SubTopic 30
-Section 55
-Paragraph 8
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482949/835-30-55-8

Reference 9: http://fasb.org/us-gaap/role/ref/legacyRef
-Name Accounting Standards Codification
-Topic 942
-SubTopic 470
-Section 50
-Paragraph 3
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480848/942-470-50-3

Reference 10: http://fasb.org/us-gaap/role/ref/legacyRef
-Name Accounting Standards Codification
-Topic 505
-SubTopic 10
-Section 50
-Paragraph 8
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481112/505-10-50-8

Reference 11: http://fasb.org/us-gaap/role/ref/legacyRef
-Topic 505
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 6
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481112/505-10-50-6

Reference 12: http://fasb.org/us-gaap/role/ref/legacyRef
-Topic 505
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 7
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481112/505-10-50-7

+ Details

Capital Stock, Accumulated Other Comprehensive Loss and Equity - Narrative (Details)	3 Months Ended										12 Months Ended
	Sep. 30, 2023 $ / shares	Jul. 01, 2023 $ / shares	Apr. 01, 2023 $ / shares	Oct. 01, 2022 $ / shares	Jul. 02, 2022 $ / shares	Apr. 02, 2022 $ / shares	Dec. 31, 2021 USD ($) $ / shares	Oct. 02, 2021 $ / shares	Jul. 03, 2021 $ / shares	Apr. 03, 2021 $ / shares	Dec. 31, 2023 USD ($) vote $ / shares shares	Dec. 31, 2022 USD ($) $ / shares shares	Dec. 31, 2021 USD ($)
Equity, Class of Treasury Stock
Common stock, shares authorized (in shares) \| shares											300,000,000	300,000,000
Common stock holders voting right, vote per outstanding share \| vote											1
Common stock, aggregate authorized repurchase amount											$ 6,100,000,000
Aggregate shares repurchased, value											$ 5,200,000,000
Aggregate shares acquired, average cost per share (in dollars per share) \| $ / shares											$ 93.43
Remaining repurchase authorization											$ 900,000,000
Cash dividends declared (in dollars per share) \| $ / shares	$ 0.77	$ 0.77	$ 0.77	$ 0.77	$ 0.77	$ 0.77	$ 0.77	$ 0.50	$ 0.25	$ 0.25	$ 0.77	$ 0.77
Pretax loss related to intercompany transactions for which settlement is not planned or anticipated in the foreseeable future											$ (100,000)	$ (2,600,000)	$ 400,000
Derivatives net investment hedge foreign currency translation							$ 17,900,000				(5,900,000)	25,300,000	$ 17,900,000
Aggregate investment in affiliates											$ 217,100,000	$ 196,700,000
Shenyang Lear Automotive Seating and Interior Systems Co., Ltd
Equity, Class of Treasury Stock
Ownership percentage of affiliates							49.00%						49.00%
Proceeds from sale of equity method investments													$ 36,200,000
Aggregate investment in affiliates							$ 7,600,000						$ 7,600,000

Leases - Summary of Weighted Average Lease Term and Discount Rate (Details)	Dec. 31, 2023
Leases [Abstract]
Weighted average remaining lease term	7 years
Weighted average discount rate	4.00%

Debt

12 Months Ended

Dec. 31, 2023

Debt Disclosure [Abstract]

Debt

Short-Term Borrowings

The Company utilizes uncommitted lines of credit as needed for its short-term working capital fluctuations. As of December 31, 2023 and 2022, the Company had lines of credit from banks totaling $337.7 million and $298.2 million, respectively. As of December 31, 2023 and 2022, the Company had short-term debt balances outstanding related to draws on its lines of credit of $27.5 million and $9.9 million, respectively.

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):


December 31,	2023
Debt Instrument	Long-Term Debt		Unamortized Debt Issuance Costs		Unamortized Original Issue Premium (Discount)		Long-Term Debt, Net		Weighted Average Interest Rate
Delayed-Draw Term Loan Facility (the "Term Loan")	$	150.0	$	(0.5)	$	—	$	149.5	6.575%
3.8% Senior Notes due 2027 (the "2027 Notes")	550.0		(1.6)		(1.4)		547.0		3.885%
4.25% Senior Notes due 2029 (the "2029 Notes")	375.0		(1.7)		(0.6)		372.7		4.288%
3.5% Senior Notes due 2030 (the "2030 Notes")	350.0		(1.8)		(0.5)		347.7		3.525%
2.6% Senior Notes due 2032 (the "2032 Notes")	350.0		(2.5)		(0.7)		346.8		2.624%
5.25% Senior Notes due 2049 (the "2049 Notes")	625.0		(5.6)		12.6		632.0		5.103%
3.55% Senior Notes due 2052 (the "2052 Notes")	350.0		(3.7)		(0.4)		345.9		3.558%
Other	1.3		—		—		1.3		N/A
	$	2,751.3	$	(17.4)	$	9.0	2,742.9
Less — Current portion							(0.3)
Long-term debt							$	2,742.6


December 31,	2022
Debt Instrument	Long-Term Debt		Unamortized Debt Issuance Costs		Unamortized Original Issue Premium (Discount)		Long-Term Debt, Net		Weighted Average Interest Rate
2027 Notes	$	550.0	$	(2.1)	$	(1.8)	$	546.1	3.885%
2029 Notes	375.0		(2.0)		(0.7)		372.3		4.288%
2030 Notes	350.0		(2.0)		(0.6)		347.4		3.525%
2032 Notes	350.0		(2.8)		(0.7)		346.5		2.624%
2049 Notes	625.0		(6.0)		13.2		632.2		5.103%
2052 Notes	350.0		(3.8)		(0.5)		345.7		3.558%
Other	11.8		—		—		11.8		N/A
	$	2,611.8	$	(18.7)	$	8.9	2,602.0
Less — Current portion							(10.8)
Long-term debt							$	2,591.2

Senior Notes

Note

Issuance Date

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

2032 Notes

November 2021

January 15, 2032

January 15 and July 15

2049 Notes

May 2019 and February 2020

May 15, 2049

May 15 and November 15

2052 Notes

November 2021

January 15, 2052

January 15 and July 15

2027 Notes Issued in 2017

In 2017, the Company issued $750 million in aggregate principal amount at maturity of 2027 Notes at a stated coupon rate of 3.8%. The 2027 Notes were issued at 99.294% of par, resulting in a yield to maturity of 3.885%. The net proceeds from the offering of $744.7 million, after original issue discount, were used to redeem the outstanding $500 million in aggregate principal amount of the senior unsecured notes due 2023 at a redemption price equal to 100% of the principal amount thereof, plus a "make-whole" premium of $17.0 million, as well as to refinance a portion of the Company's $500 million prior term loan facility.

In November 2021, the Company paid $221.5 million for the purchase of $200 million in aggregate principal amount of the 2027 Notes, including an early tender premium of $21.0 million and related fees of $0.5 million. In connection with this transaction, the Company recognized a loss of $23.9 million on the extinguishment of debt.

Prior to June 15, 2027, the Company, at its option, may redeem the 2027 Notes, in whole or in part, at a redemption price equal to 100% of the principal amount thereof, plus a "make-whole" premium as of, and accrued and unpaid interest to, the redemption date. On or after June 15, 2027, but prior to the maturity date of September 15, 2027, the Company, at its option, may redeem the 2027 Notes, in whole or in part, at a redemption price equal to 100% of the principal amount thereof, plus accrued and unpaid interest to the redemption date.

2029 and 2049 Notes Issued in 2019

In 2019, the Company issued $375 million in aggregate principal amount at maturity of 2029 Notes and $325 million in aggregate principal amount at maturity of 2049 Notes. The 2029 Notes have a stated coupon rate of 4.25% and were issued at 99.691% of par, resulting in a yield to maturity of 4.288%. The 2049 Notes have a stated coupon rate of 5.25% and were issued at 98.32% of par, resulting in a yield to maturity of 5.363%.

The net proceeds from the offering of $693.3 million, after original issue discount, were used to redeem $325 million in aggregate principal amount of 5.375% senior notes due 2024 (the "2024 Notes") at a redemption price equal to 102.688% of the principal amount of such 2024 Notes, plus accrued interest, as well as to finance the acquisition of Xevo and for general corporate purposes.

Prior to February 15, 2029, the Company, at its option, may redeem the 2029 Notes, in whole or in part, at a redemption price equal to 100% of the principal amount thereof, plus the applicable premium, if any, as of, and accrued and unpaid interest to, but not including, the redemption date. On or after February 15, 2029, the Company, at its option, may redeem the 2029 Notes, at any time, in whole or in part, on not less than 15 nor more than 60 days' prior notice, at a redemption price equal to 100% of the principal amount thereof, plus accrued and unpaid interest to, but not including, the redemption date.

Prior to November 15, 2048, the Company, at its option, may redeem the 2049 Notes, in whole or in part, at a redemption price equal to 100% of the principal amount thereof, plus the applicable premium, if any, as of, and accrued and unpaid interest to, but not including, the redemption date. On or after November 15, 2048, the Company, at its option, may redeem the 2049 Notes, at any time, in whole or in part, on not less than 15 nor more than 60 days' prior notice, at a redemption price equal to 100% of the principal amount thereof, plus accrued and unpaid interest to, but not including, the redemption date.

2030 Notes and 2049 Notes Issued in 2020

In 2020, the Company issued $350 million in aggregate principal amount at maturity of 2030 Notes and $300 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 $650 million in aggregate principal amount of 5.25% senior notes due 2025 (the "2025 Notes") at a redemption price equal to 102.625% of the principal amount of such 2025 Notes, plus accrued interest.

Prior to February 28, 2030, the Company, at its option, may redeem the 2030 Notes, in whole or in part, at a redemption price equal to 100% of the principal amount thereof, plus the applicable premium, if any, as of, and accrued and unpaid interest to, but not including, the redemption date. On or after February 28, 2030, the Company, at its option, may redeem the 2030 Notes, at any time, in whole or in part, on not less than 15 nor more than 60 days' prior notice, at a redemption price equal to 100% of the principal amount thereof, plus accrued and unpaid interest to, but not including, the redemption date.

Notes, at any time, in whole or in part, on not less than 15 nor more than 60 days' prior notice, at a redemption price equal to 100% of the principal amount thereof, plus accrued and unpaid interest to, but not including, the redemption date.

2032 Notes and 2052 Notes Issued in 2021

In 2021, the Company issued $350 million in aggregate principal amount at maturity of 2032 Notes and $350 million in aggregate principal amount at maturity of 2052 Notes. The 2032 Notes have a stated coupon rate of 2.6% and were issued at 99.782% of par, resulting in a yield to maturity of 2.624%. The 2052 Notes have a stated coupon rate of 3.55% and were issued at 99.845% of par, resulting in a yield to maturity of 3.558%.

The net proceeds from the offering of $698.7 million, after original issue discount, were used, in part, to fund the tender of $200 million in aggregate principal amount of 2027 Notes (see "— 2027 Notes" above) and the repayment in full of $206.3 million outstanding on the Company's $250 million term loan facility under its credit agreement (see "— Credit Agreement" below). The remaining net proceeds were used to finance the 2022 acquisition of Kongsberg ICS (Note 4, "Acquisitions") and for general corporate purposes.

Prior to October 15, 2031, the Company, at its option, may redeem the 2032 Notes, in whole or in part, at a redemption price equal to 100% of the principal amount thereof, plus the applicable premium, if any, as of, and accrued and unpaid interest to, but not including, the redemption date. On or after October 15, 2031, the Company, at its option, may redeem the 2032 Notes, at any time, in whole or in part, on not less than 15 nor more than 60 days' prior notice, at a redemption price equal to 100% of the principal amount thereof, plus accrued and unpaid interest to, but not including, the redemption date.

Prior to July 15, 2051, the Company, at its option, may redeem the 2052 Notes, in whole or in part, at a redemption price equal to 100% of the principal amount thereof, plus the applicable premium, if any, as of, and accrued and unpaid interest to, but not including, the redemption date. On or after July 15, 2051, the Company, at its option, may redeem the 2052 Notes, at any time, in whole or in part, on not less than 15 nor more than 60 days' prior notice, at a redemption price equal to 100% of the principal amount thereof, plus accrued and unpaid interest to, but not including, the redemption date.

In connection with these transactions, the Company paid related issuance costs of $7.1 million in 2021.

Covenants

Subject to certain exceptions, the indentures governing the Notes contain 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 December 31, 2023, the Company was in compliance with all covenants under the indentures governing the Notes.

Credit Agreement

In 2017, the Company entered into an unsecured credit agreement, which consisted of a $1.75 billion revolving credit facility (the "Revolving Credit Facility") and a $250 million term loan facility (the "Term Loan Facility"). In October 2021, the Company entered into an amended and restated credit agreement (the "Credit Agreement") that increased the Revolving Credit Facility to $2.0 billion and extended the maturity date to October 28, 2026. In November 2021, the Company repaid in full $206.3 million outstanding on the Term Loan Facility. Inclusive of this amount, the Company made principal payments on the Term Loan Facility of $220.3 million in 2021. In connection with these transactions, the Company recognized a loss of $0.7 million on the extinguishment of debt and paid related issuance costs of $2.8 million.

In June 2023, the Company amended the Credit Agreement to implement the transition from the London Interbank Offered Rate to the Secured Overnight Financing Rate ("SOFR") in accordance with the existing terms of the Credit Agreement, adopting SOFR as the reference rate for certain U.S. dollar-denominated borrowings.

In November 2023, the Company entered into an extension agreement (the "Extension Agreement") related to its Credit Agreement to extend the maturity date by one year to October 28, 2027, and replace the Canadian Dollar Offered Rate (CDOR) with term Canadian Overnight Repo Rate Average (CORRA) as the benchmark rate for term rate loans denominated in Canadian dollars. In connection with the Extension Agreement, the Company paid related issuance costs of $1.2 million.

In 2023 and 2021, there were no borrowings or repayments under the Revolving Credit Facility. In 2022, aggregate borrowings and repayments under the Revolving Credit Facility were $65.0 million. As of December 31, 2023 and 2022, there were no borrowings outstanding under the Revolving Credit Facility.

Advances under the Credit Agreement generally bear interest based on (i) Term Benchmark, Central Bank Rate and Risk Free Rate ("RFR") (in each case, as defined in the Credit Agreement) or (ii) Alternate Base Rate ("ABR") and Canadian Prime Rate (in each case, as defined in the Credit Agreement). As of December 31, 2023, the ranges and rates are as follows (in percentages):


	Term Benchmark, Central Bank Rate and RFR Loans						ABR and Canadian Prime Rate Loans
	Minimum		Maximum		Rate as of December 31, 2023		Minimum		Maximum		Rate as of December 31, 2023
Credit Agreement	0.925	%	1.450	%	1.125	%	0.000	%	0.450	%	0.125	%

The facility fee, which ranges from 0.075% to 0.20% 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 December 31, 2023, the Company was in compliance with all covenants under the Credit Agreement.

Term Loan

In May 2023, the Company borrowed $150.0 million under its unsecured delayed-draw term loan facility (the "Term Loan") to finance, in part, the acquisition of IGB (Note 4, "Acquisitions"). The Term Loan matures on May 1, 2026, three years after the funding date. Advances under the Term Loan generally bear interest based on the Daily or Term SOFR (as defined in the Term Loan agreement) plus a margin determined in accordance with a pricing grid that ranges from 1.00% to 1.525%. As of December 31, 2023, the interest rate was 6.575%.

Covenants

The Term Loan contains the same covenants as the Credit Agreement. As of December 31, 2023, the Company was in compliance with all covenants under the Term Loan.

Other

As of December 31, 2023, other long-term debt, including the current portion, consisted of amounts outstanding under finance lease agreements. As of December 31, 2022, other long-term debt, including the current portion, consisted of amounts outstanding under an unsecured working capital loan and a finance lease agreement.

- Definition

The entire disclosure for information about short-term and long-term debt arrangements, which includes amounts of borrowings under each line of credit, note payable, commercial paper issue, bonds indenture, debenture issue, own-share lending arrangements and any other contractual agreement to repay funds, and about the underlying arrangements, rationale for a classification as long-term, including repayment terms, interest rates, collateral provided, restrictions on use of assets and activities, whether or not in compliance with debt covenants, and other matters important to users of the financial statements, such as the effects of refinancing and noncompliance with debt covenants.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1B
-Subparagraph (h)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481139/470-20-50-1B

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Topic 235
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.4-08(c))
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480678/235-10-S99-1

Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef
-Topic 470
-Name Accounting Standards Codification
-Publisher FASB
-URI https://asc.fasb.org//470/tableOfContent

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1B
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481139/470-20-50-1B

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1B
-Subparagraph (g)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481139/470-20-50-1B

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1B
-Subparagraph (i)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481139/470-20-50-1B

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1C
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481139/470-20-50-1C

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1C
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481139/470-20-50-1C

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1C
-Subparagraph (c)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481139/470-20-50-1C

Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1E
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481139/470-20-50-1E

Reference 11: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1I
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481139/470-20-50-1I

Reference 12: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1I
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481139/470-20-50-1I

Reference 13: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1I
-Subparagraph (d)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481139/470-20-50-1I

+ Details

Summary of Significant Accounting Policies - Summary of Information Used to Compute Basic and Diluted Net Income Per Share (Details) - USD ($) $ / shares in Units, $ in Millions	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Accounting Policies [Abstract]
Net income attributable to Lear	$ 572.5	$ 327.7	$ 373.9
Average common shares outstanding (in shares)	58,830,334	59,674,488	60,082,833
Dilutive effect of common stock equivalents (in shares)	286,041	246,041	337,651
Average diluted shares outstanding (in shares)	59,116,375	59,920,529	60,420,484
Basic net income per share attributable to Lear (in dollars per share)	$ 9.73	$ 5.49	$ 6.22
Diluted net income per share attributable to Lear (in dollars per share)	$ 9.68	$ 5.47	$ 6.19

- Definition

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

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 250
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 3
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147483443/250-10-50-3

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Topic 260
-SubTopic 10
-Name Accounting Standards Codification
-Section 55
-Paragraph 15
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482635/260-10-55-15

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Topic 815
-SubTopic 40
-Name Accounting Standards Codification
-Section 65
-Paragraph 1
-Subparagraph (e)(4)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480175/815-40-65-1

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Topic 815
-SubTopic 40
-Name Accounting Standards Codification
-Section 65
-Paragraph 1
-Subparagraph (f)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480175/815-40-65-1

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Topic 250
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 11
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147483443/250-10-50-11

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Topic 250
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 11
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147483443/250-10-50-11

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Topic 250
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 7
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147483443/250-10-50-7

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Topic 260
-SubTopic 10
-Name Accounting Standards Codification
-Section 45
-Paragraph 2
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482689/260-10-45-2

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Topic 260
-SubTopic 10
-Name Accounting Standards Codification
-Section 45
-Paragraph 60B
-Subparagraph (d)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482689/260-10-45-60B

Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Topic 250
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 4
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147483443/250-10-50-4

Reference 11: http://www.xbrl.org/2003/role/disclosureRef
-Topic 260
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482662/260-10-50-1

Reference 12: http://www.xbrl.org/2003/role/disclosureRef
-Topic 260
-SubTopic 10
-Name Accounting Standards Codification
-Section 45
-Paragraph 10
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482689/260-10-45-10

Reference 13: http://www.xbrl.org/2003/role/disclosureRef
-Topic 220
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 2
-Subparagraph (SX 210.5-03(25))
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147483621/220-10-S99-2

Reference 14: http://www.xbrl.org/2003/role/disclosureRef
-Topic 942
-SubTopic 220
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.9-04(27))
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147483589/942-220-S99-1

Reference 15: http://www.xbrl.org/2003/role/disclosureRef
-Topic 944
-SubTopic 220
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.7-04(23))
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147483586/944-220-S99-1

Reference 16: http://www.xbrl.org/2003/role/exampleRef
-Topic 260
-SubTopic 10
-Name Accounting Standards Codification
-Section 55
-Paragraph 52
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482635/260-10-55-52

Reference 17: http://www.xbrl.org/2003/role/disclosureRef
-Topic 260
-SubTopic 10
-Name Accounting Standards Codification
-Section 45
-Paragraph 7
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482689/260-10-45-7

+ Details

- 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.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 250
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 3
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147483443/250-10-50-3

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Topic 260
-SubTopic 10
-Name Accounting Standards Codification
-Section 55
-Paragraph 15
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482635/260-10-55-15

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Topic 815
-SubTopic 40
-Name Accounting Standards Codification
-Section 65
-Paragraph 1
-Subparagraph (e)(4)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480175/815-40-65-1

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Topic 815
-SubTopic 40
-Name Accounting Standards Codification
-Section 65
-Paragraph 1
-Subparagraph (f)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480175/815-40-65-1

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Topic 250
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 11
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147483443/250-10-50-11

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Topic 250
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 11
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147483443/250-10-50-11

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Topic 250
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 7
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147483443/250-10-50-7

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Topic 260
-SubTopic 10
-Name Accounting Standards Codification
-Section 45
-Paragraph 2
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482689/260-10-45-2

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Topic 260
-SubTopic 10
-Name Accounting Standards Codification
-Section 45
-Paragraph 60B
-Subparagraph (d)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482689/260-10-45-60B

Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Topic 250
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 4
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147483443/250-10-50-4

Reference 11: http://www.xbrl.org/2003/role/disclosureRef
-Topic 260
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482662/260-10-50-1

Reference 12: http://www.xbrl.org/2003/role/disclosureRef
-Topic 220
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 2
-Subparagraph (SX 210.5-03(25))
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147483621/220-10-S99-2

Reference 13: http://www.xbrl.org/2003/role/disclosureRef
-Topic 942
-SubTopic 220
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.9-04(27))
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147483589/942-220-S99-1

Reference 14: http://www.xbrl.org/2003/role/disclosureRef
-Topic 944
-SubTopic 220
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.7-04(23))
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147483586/944-220-S99-1

Reference 15: http://www.xbrl.org/2003/role/exampleRef
-Topic 260
-SubTopic 10
-Name Accounting Standards Codification
-Section 55
-Paragraph 52
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482635/260-10-55-52

Reference 16: http://www.xbrl.org/2003/role/disclosureRef
-Topic 260
-SubTopic 10
-Name Accounting Standards Codification
-Section 45
-Paragraph 7
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482689/260-10-45-7

+ Details

- Definition

The portion of profit or loss for the period, net of income taxes, which is attributable to the parent.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 235
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.4-08(g)(1)(ii))
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480678/235-10-S99-1

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Topic 323
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 3
-Subparagraph (c)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481687/323-10-50-3

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Topic 825
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 28
-Subparagraph (f)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482907/825-10-50-28

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Topic 220
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 6
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482765/220-10-50-6

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Topic 250
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 3
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147483443/250-10-50-3

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Topic 250
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (b)(2)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147483443/250-10-50-1

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Topic 815
-SubTopic 40
-Name Accounting Standards Codification
-Section 65
-Paragraph 1
-Subparagraph (f)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480175/815-40-65-1

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Topic 250
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 8
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147483443/250-10-50-8

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Topic 250
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 9
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147483443/250-10-50-9

Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Topic 250
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 11
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147483443/250-10-50-11

Reference 11: http://www.xbrl.org/2003/role/disclosureRef
-Topic 250
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 11
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147483443/250-10-50-11

Reference 12: http://www.xbrl.org/2003/role/disclosureRef
-Topic 250
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 4
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147483443/250-10-50-4

Reference 13: http://www.xbrl.org/2003/role/exampleRef
-Topic 946
-SubTopic 830
-Name Accounting Standards Codification
-Section 55
-Paragraph 10
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480167/946-830-55-10

Reference 14: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
-SubTopic 220
-Name Accounting Standards Codification
-Section 45
-Paragraph 7
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147483581/946-220-45-7

Reference 15: http://www.xbrl.org/2003/role/disclosureRef
-Topic 944
-SubTopic 220
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.7-04(18))
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147483586/944-220-S99-1

Reference 16: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 22
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-22

Reference 17: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
-SubTopic 220
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.6-07(9))
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147483575/946-220-S99-1

Reference 18: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
-SubTopic 220
-Name Accounting Standards Codification
-Section S99
-Paragraph 3
-Subparagraph (SX 210.6-09(1)(d))
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147483575/946-220-S99-3

Reference 19: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1A
-Subparagraph (SX 210.13-01(a)(4)(i))
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480097/470-10-S99-1A

Reference 20: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 470
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1A
-Subparagraph (SX 210.13-01(a)(4)(ii))
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480097/470-10-S99-1A

Reference 21: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1A
-Subparagraph (SX 210.13-01(a)(4)(iii)(A))
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480097/470-10-S99-1A

Reference 22: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1A
-Subparagraph (SX 210.13-01(a)(4)(iv))
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480097/470-10-S99-1A

Reference 23: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1A
-Subparagraph (SX 210.13-01(a)(5))
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480097/470-10-S99-1A

Reference 24: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1B
-Subparagraph (SX 210.13-02(a)(4)(i))
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480097/470-10-S99-1B

Reference 25: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1B
-Subparagraph (SX 210.13-02(a)(4)(iii)(A))
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480097/470-10-S99-1B

Reference 26: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1B
-Subparagraph (SX 210.13-02(a)(4)(iii)(B))
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480097/470-10-S99-1B

Reference 27: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1B
-Subparagraph (SX 210.13-02(a)(4)(iv))
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480097/470-10-S99-1B

Reference 28: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1B
-Subparagraph (SX 210.13-02(a)(5))
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480097/470-10-S99-1B

Reference 29: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 30
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-30

Reference 30: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 32
-Subparagraph (f)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-32

Reference 31: http://www.xbrl.org/2003/role/disclosureRef
-Topic 260
-SubTopic 10
-Name Accounting Standards Codification
-Section 45
-Paragraph 60B
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482689/260-10-45-60B

Reference 32: http://www.xbrl.org/2003/role/exampleRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 31
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-31

Reference 33: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 32
-Subparagraph (c)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-32

Reference 34: http://www.xbrl.org/2003/role/disclosureRef
-Topic 205
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 7
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147483499/205-20-50-7

Reference 35: http://fasb.org/us-gaap/role/ref/legacyRef
-Topic 230
-SubTopic 10
-Name Accounting Standards Codification
-Section 45
-Paragraph 28
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482740/230-10-45-28

Reference 36: http://www.xbrl.org/2003/role/disclosureRef
-Topic 220
-SubTopic 10
-Name Accounting Standards Codification
-Section 45
-Paragraph 1A
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482790/220-10-45-1A

Reference 37: http://www.xbrl.org/2003/role/disclosureRef
-Topic 220
-SubTopic 10
-Name Accounting Standards Codification
-Section 45
-Paragraph 1B
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482790/220-10-45-1B

Reference 38: http://fasb.org/us-gaap/role/ref/legacyRef
-Topic 220
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 2
-Subparagraph (SX 210.5-03(20))
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147483621/220-10-S99-2

Reference 39: http://fasb.org/us-gaap/role/ref/legacyRef
-Topic 942
-SubTopic 220
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.9-04(22))
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147483589/942-220-S99-1

+ Details

Investments in Affiliates and Other Related Party Transactions - Summarized Income Statement Data for Affiliates Accounted for under Equity Method (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Schedule of Equity Method Investments
Net sales	$ 23,466.9	$ 20,891.5	$ 19,263.1
Net income attributable to affiliates	73.2	81.0	87.7
Group of Equity Method Investments
Schedule of Equity Method Investments
Net sales	2,676.9	2,447.6	1,833.6
Gross profit	149.7	106.1	50.1
Income before provision for income taxes	116.7	102.8	104.5
Net income attributable to affiliates	$ 82.2	$ 64.4	$ 80.5

- Definition

Aggregate revenue less cost of goods and services sold or operating expenses directly attributable to the revenue generation activity.

+ References

+ Details

- Definition

Amount of Net Income (Loss) attributable to noncontrolling interest.

+ References + Details

- 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.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 924
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SAB Topic 11.L)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147479941/924-10-S99-1

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Topic 606
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 5
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147479806/606-10-50-5

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 30
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-30

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 42
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-42

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 22
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-22

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 32
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-32

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 40
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-40

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 22
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-22

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 32
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-32

Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 41
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-41

Reference 11: http://www.xbrl.org/2003/role/disclosureRef
-Topic 606
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 4
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147479806/606-10-50-4

+ Details

Pension and Other Postretirement Benefit Plans (Tables)

12 Months Ended

Dec. 31, 2023

Retirement Benefits [Abstract]

Change in Benefit Obligation and Plan Assets

A reconciliation of the change in benefit obligation for the years ended December 31, 2023 and 2022, is shown below (in millions):


	Pension								Other Postretirement
	December 31, 2023				December 31, 2022				December 31, 2023				December 31, 2022
	U.S.		Foreign		U.S.		Foreign		U.S.		Foreign		U.S.		Foreign
Change in benefit obligation:
Benefit obligation at beginning of period	$	387.9	$	339.5	$	536.5	$	479.9	$	29.1	$	17.6	$	56.0	$	24.5
Service cost	—		3.4		—		4.2		—		—		—		—
Interest cost	20.7		16.7		15.5		11.2		1.5		0.9		1.5		0.7

Actuarial (gains) losses	18.5		26.5		(142.3)		(98.3)		0.7		(1.8)		(25.8)		(4.8)
Benefits paid	(21.8)		(21.8)		(21.8)		(22.9)		(2.2)		(1.4)		(2.6)		(1.2)


Translation adjustment	—		9.5		—		(34.6)		—		0.4		—		(1.6)
Benefit obligation at end of period	$	405.3	$	373.8	$	387.9	$	339.5	$	29.1	$	15.7	$	29.1	$	17.6

A reconciliation of the change in plan assets for the years ended December 31, 2023 and 2022, and the funded status as of December 31, 2023 and 2022, is shown below (in millions):


	Pension								Other Postretirement
	December 31, 2023				December 31, 2022				December 31, 2023				December 31, 2022
	U.S.		Foreign		U.S.		Foreign		U.S.		Foreign		U.S.		Foreign
Change in plan assets:
Fair value of plan assets at beginning of period	$	348.5	$	307.0	$	444.2	$	392.5	$	—	$	—	$	—	$	—
Actual return on plan assets	38.5		31.4		(77.1)		(41.0)		—		—		—		—
Employer contributions	3.0		5.3		3.2		6.1		2.2		1.4		2.6		1.2
Benefits paid	(21.8)		(21.8)		(21.8)		(22.9)		(2.2)		(1.4)		(2.6)		(1.2)

Translation adjustment	—		9.1		—		(27.7)		—		—		—		—
Fair value of plan assets at end of period	368.2		331.0		348.5		307.0		—		—		—		—

Funded status	$	(37.1)	$	(42.8)	$	(39.4)	$	(32.5)	$	(29.1)	$	(15.7)	$	(29.1)	$	(17.6)

Amounts Recognized in Consolidated Balance Sheet

A summary of amounts recognized in the consolidated balance sheets as of December 31, 2023 and 2022, is shown below (in millions):


	Pension								Other Postretirement
	December 31, 2023				December 31, 2022				December 31, 2023				December 31, 2022
	U.S.		Foreign		U.S.		Foreign		U.S.		Foreign		U.S.		Foreign
Amounts recognized in the consolidated balance sheet:
Other long-term assets	$	0.5	$	67.1	$	—	$	62.3	$	—	$	—	$	—	$	—
Accrued liabilities	(2.1)		(3.5)		(2.9)		(3.4)		(2.6)		(1.3)		(2.6)		(1.4)
Other long-term liabilities	(35.5)		(106.4)		(36.5)		(91.4)		(26.5)		(14.4)		(26.5)		(16.2)

Funded status	$	(37.1)	$	(42.8)	$	(39.4)	$	(32.5)	$	(29.1)	$	(15.7)	$	(29.1)	$	(17.6)

Pension Plans with Accumulated Benefit Obligations in Excess of Plan Assets

As of December 31, 2023 and 2022, the majority of the Company's pension plans had accumulated benefit obligations in excess of plan assets. Information related to pension plans with accumulated benefit obligations in excess of plan assets is shown below (in millions):


December 31,	2023		2022
Projected benefit obligation	$	515.2	$	482.7
Accumulated benefit obligation	505.5		476.0
Fair value of plan assets	368.2		348.6

Amounts Recognized in Other Comprehensive Income (Loss)

Pretax amounts recognized in other comprehensive income (loss) ("OCIL") for the years ended December 31, 2023 and 2022, is shown below (in millions):


	Pension								Other Postretirement
	December 31, 2023				December 31, 2022				December 31, 2023				December 31, 2022
	U.S.		Foreign		U.S.		Foreign		U.S.		Foreign		U.S.		Foreign
Unrecognized amounts in AOCL at beginning of period	$	(58.9)	$	(61.2)	$	(102.6)	$	(114.6)	$	39.2	$	4.2	$	14.7	$	(0.5)
Actuarial gains (losses) recognized:
Reclassification adjustments	1.0		1.9		2.0		4.1		(3.3)		(0.2)		(1.2)		—
Actuarial gains (losses) arising during the period	(0.3)		(11.0)		41.3		42.2		(0.7)		1.8		25.8		4.8

Effect of settlements	(0.1)		(0.4)		0.4		(0.2)		—		—		—		—
Prior service credit recognized:
Reclassification adjustments	—		—		—		—		(0.1)		—		(0.1)		—

Translation adjustment	—		(1.4)		—		7.3		—		0.1		—		(0.1)
Amounts recognized in OCIL during the period	0.6		(10.9)		43.7		53.4		(4.1)		1.7		24.5		4.7
Unrecognized amounts in AOCL at end of period	$	(58.3)	$	(72.1)	$	(58.9)	$	(61.2)	$	35.1	$	5.9	$	39.2	$	4.2

Amounts Recorded in Accumulated Other Comprehensive Loss Not Yet Recognized in Net Periodic Benefit Cost (Credit)

Pretax amounts recorded in accumulated other comprehensive loss not yet recognized in net periodic benefit cost (credit) as of December 31, 2023 and 2022, are shown below (in millions):


	Pension								Other Postretirement
	December 31, 2023				December 31, 2022				December 31, 2023				December 31, 2022
	U.S.		Foreign		U.S.		Foreign		U.S.		Foreign		U.S.		Foreign
Net unrecognized actuarial gains (losses)	$	(58.3)	$	(71.6)	$	(58.9)	$	(60.7)	$	34.2	$	5.8	$	38.2	$	4.1
Prior service credit (cost)	—		(0.5)		—		(0.5)		0.9		0.1		1.0		0.1
Unrecognized amounts in AOCL at end of period	$	(58.3)	$	(72.1)	$	(58.9)	$	(61.2)	$	35.1	$	5.9	$	39.2	$	4.2

Components of Net Periodic Benefit Cost (Credit)

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


	Year Ended December 31,
	2023				2022				2021
Pension	U.S.		Foreign		U.S.		Foreign		U.S.		Foreign
Service cost	$	—	$	3.4	$	—	$	4.2	$	—	$	5.3
Interest cost	20.7		16.7		15.5		11.2		14.5		10.5
Expected return on plan assets	(20.3)		(16.2)		(23.9)		(17.2)		(23.5)		(19.6)
Amortization of actuarial loss	1.0		1.9		2.0		4.1		3.9		6.1


Settlement (gains) losses	(0.1)		(0.4)		0.4		(0.2)		0.4		—
Net periodic benefit cost (credit)	$	1.3	$	5.4	$	(6.0)	$	2.1	$	(4.7)	$	2.3

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


	Year Ended December 31,
	2023				2022				2021
Other Postretirement	U.S.		Foreign		U.S.		Foreign		U.S.		Foreign

Interest cost	$	1.5	$	0.9	$	1.5	$	0.7	$	1.4	$	0.7
Amortization of actuarial gains	(3.3)		(0.2)		(1.2)		—		(1.1)		—
Amortization of prior service credit	(0.1)		—		(0.1)		—		(0.1)		—


Net periodic benefit cost (credit)	$	(1.9)	$	0.7	$	0.2	$	0.7	$	0.2	$	0.7

Weighted Average Actuarial Assumptions Used

The weighted average actuarial assumptions used in determining the benefit obligations are shown below:


	Pension		Other Postretirement
December 31,	2023	2022	2023	2022
Discount rate:
Domestic plans	5.2%	5.5%	5.1%	5.5%
Foreign plans	4.4%	5.0%	4.6%	5.3%
Rate of compensation increase:
Foreign plans	2.6%	2.5%	N/A	N/A

The weighted average actuarial assumptions used in determining the net periodic benefit cost (credit) are shown below:


For the year ended December 31,	2023		2022		2021
Pension
Discount rate:
Domestic plans	5.5	%	3.0	%	2.6	%
Foreign plans	5.0	%	2.5	%	2.0	%
Expected return on plan assets:
Domestic plans	6.0	%	5.5	%	5.8	%
Foreign plans	5.4	%	4.6	%	5.2	%
Rate of compensation increase:
Foreign plans	2.5	%	3.5	%	3.3	%
Other postretirement
Discount rate:
Domestic plans	5.5	%	2.8	%	2.4	%
Foreign plans	5.3	%	3.1	%	2.5	%

Assumed Health Care Cost Trend Rates

The assumed healthcare cost trend rates used to measure the postretirement benefit obligation as of December 31, 2023, are shown below:


	U.S. Plans	Foreign Plans
Initial healthcare cost trend rate	6.3%	4.9%
Ultimate healthcare cost trend rate	4.5%	4.0%
Year ultimate healthcare cost trend rate achieved	2030	2040

Pension Plan Assets by Asset Category and Fair Value Hierarchy

Fair value measurements and the related valuation techniques and fair value hierarchy level for the Company's pension plan assets measured at fair value on a recurring basis as of December 31, 2023 and 2022, are shown below (in millions):


	December 31, 2023
	Total		Level 1		Level 2		Level 3		Valuation Technique
U.S. Plans:
Equity securities -
Equity funds	$	58.7	$	46.6	$	12.1	$	—	Market
Common stock	50.3		44.9		5.4		—		Market
Fixed income -
Fixed income funds	74.7		74.7		—		—		Market
Corporate bonds	95.4		—		95.4		—		Market
Government obligations	18.6		—		18.6		—		Market
Cash and short-term investments	8.3		6.8		1.5		—		Market
Assets at fair value	306.0		$	173.0	$	133.0	$	—
Investments measured at net asset value -
Alternative investments	62.2
Assets at fair value	$	368.2
Foreign Plans:
Equity securities -
Equity funds	$	30.4	$	—	$	30.4	$	—	Market
Common stock	18.4		18.4		—		—		Market
Fixed income -
Fixed income funds	49.5		—		49.5		—		Market
Corporate bonds	23.9		—		23.9		—		Market
Government obligations	175.7		—		175.7		—		Market

Cash and short-term investments	13.5		9.3		4.2		—		Market
Assets at fair value	311.4		$	27.7	$	283.7	$	—
Investments measured at net asset value -
Alternative investments	19.6
Assets at fair value	$	331.0


	December 31, 2022
	Total		Level 1		Level 2		Level 3		Valuation Technique
U.S. Plans:
Equity securities -
Equity funds	$	65.2	$	52.1	$	13.1	$	—	Market
Common stock	54.9		39.8		15.1		—		Market
Fixed income -
Fixed income funds	79.1		79.1		—		—		Market
Corporate bonds	63.4		—		63.4		—		Market
Government obligations	9.7		—		9.7		—		Market
Preferred stock	0.2		0.2		—		—		Market
Cash and short-term investments	13.4		2.8		10.6		—		Market
Assets at fair value	285.9		$	174.0	$	111.9	$	—
Investments measured at net asset value -
Alternative investments	62.6
Assets at fair value	$	348.5
Foreign Plans:
Equity securities -
Equity funds	$	55.2	$	—	$	55.2	$	—	Market
Common stock	32.9		32.9		—		—		Market
Fixed income -
Fixed income funds	43.4		—		43.4		—		Market
Corporate bonds	15.9		—		15.9		—		Market
Government obligations	113.2		—		113.2		—		Market

Cash and short-term investments	13.3		3.2		10.1		—		Market
Assets at fair value	273.9		$	36.1	$	237.8	$	—
Investments measured at net asset value -
Alternative investments	33.1
Assets at fair value	$	307.0

Expected Benefit Payments

As of December 31, 2023, the Company's estimate of expected benefit payments in each of the five succeeding years and in the aggregate for the five years thereafter are shown below (in millions):


	Pension				Other Postretirement
Year	U.S.		Foreign		U.S.		Foreign
2024	$	22.8	$	23.6	$	2.7	$	1.3
2025	23.7		22.9		2.6		1.3
2026	25.0		23.1		2.6		1.2
2027	25.0		24.2		2.5		1.2
2028	25.8		25.5		2.5		1.2
Five years thereafter	137.7		126.0		10.9		5.3

Detailed information related to these plans is shown below (amounts in millions):

Pension Protection Act
Zone Status

Contributions to Multiemployer Pension Plans

Employer Identification Number ("EIN")

December 31,

2022

Certification

December 31,

2021

Certification

FIP/RP (1)

Pending or

Implemented

Surcharge

Year Ended December 31, 2023

Year Ended December 31, 2022

Year Ended December 31, 2021

51-6099782-001

Green

Yes

0.8

0.7

13-6130178-001

Red

Yes

0.4

(1) Funding improvement plan or rehabilitation plan as defined by Employment Retirement Security Act of 1974.

Leases

12 Months Ended

Dec. 31, 2023

Leases [Abstract]

Leases

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 consolidated balance sheet are shown below (in millions):


December 31,	2023		2022
Right-of-use assets under operating leases:
Other long-term assets	$	733.5	$	701.8
Lease obligations under operating leases:
Accrued liabilities	$	151.9	$	136.8
Other long-term liabilities	623.0		595.1
	$	774.9	$	731.9

Maturities of lease obligations as of December 31, 2023, are shown below (in millions):


2024	$	177.9
2025	156.3
2026	131.6
2027	108.6
2028	87.8
Thereafter	213.2
Total undiscounted cash flows	875.4
Less: Imputed interest	(100.5)
Lease obligations under operating leases	$	774.9

In addition to the right-of-use assets obtained in exchange for operating lease obligations shown below, the Company acquired $14.3 million of right-of-use assets and related lease obligations in conjunction with its acquisition of IGB in 2023 and $34.1 million of right-of-use assets and related lease obligations in conjunction with its acquisition of Kongsberg ICS in 2022. See Note 4, "Acquisitions."

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


For the year ended December 31,	2023		2022		2021
Non-cash activity:
Right-of-use assets obtained in exchange for operating lease obligations	$	181.6	$	236.1	$	258.4
Operating cash flows:
Cash paid related to operating lease obligations	$	183.2	$	164.3	$	164.2

Lease expense included in the accompanying consolidated statement of income is shown below (in millions):


For the year ended December 31,	2023		2022		2021
Operating lease expense	$	182.9	$	164.5	$	160.3
Short-term lease expense	20.7		22.1		19.4
Variable lease expense	9.7		8.4		7.9
Total lease expense	$	213.3	$	195.0	$	187.6

The Company's short-term lease expense excludes leases with a duration of one month or less.

Variable lease expense includes payments based on performance or usage, as well as changes to index and rate-based lease payments. Additionally, the Company evaluated its supply contracts with its customers and concluded that variable lease expense in these arrangements is not material.

For the years ended December 31, 2023, 2022 and 2021, the Company recognized impairment charges of $10.9 million, $6.5 million and $7.2 million, respectively, related to its right-of-use assets in conjunction with its restructuring actions (Note 5, "Restructuring"). For the year ended December 31, 2022, the Company recognized additional right-of-use asset impairment charges of $7.0 million related to its Russian operations. The impairment charges are included in cost of sales in the accompanying consolidated statements of income.

The weighted average lease term and discount rate for operating leases as of December 31, 2023, are shown below:


Weighted average remaining lease term	Seven years
Weighted average discount rate	4.0	%

For the year ended December 31, 2023, the Company recognized a gain of $11.3 million on the sale of a manufacturing facility that was subsequently leased back under a short-term lease. The gain is included in other expense, net in the accompanying consolidated statement of income.

Segment Reporting

12 Months Ended

Dec. 31, 2023

Segment Reporting [Abstract]

Segment Reporting

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


	Year Ended December 31, 2023
	Seating		E-Systems		Other		Consolidated
Revenues from external customers	$	17,548.8	$	5,918.1	$	—	$	23,466.9
Segment earnings (1)	1,066.9		228.9		(362.6)		933.2
Depreciation and amortization	394.4		189.3		20.7		604.4
Capital expenditures	344.6		261.3		20.6		626.5
Total assets	8,371.2		4,046.5		2,277.8		14,695.5


	Year Ended December 31, 2022
	Seating		E-Systems		Other		Consolidated
Revenues from external customers	$	15,711.2	$	5,180.3	$	—	$	20,891.5
Segment earnings (1)	893.0		74.4		(313.1)		654.3
Depreciation and amortization	369.5		188.2		18.8		576.5
Capital expenditures	369.4		241.3		27.5		638.2
Total assets	7,897.4		3,684.7		2,180.9		13,763.0


	Year Ended December 31, 2021
	Seating		E-Systems		Other		Consolidated
Revenues from external customers	$	14,411.4	$	4,851.7	$	—	$	19,263.1
Segment earnings (1)	851.3		121.2		(297.1)		675.4
Depreciation and amortization	362.6		195.7		15.6		573.9
Capital expenditures	340.7		217.2		27.2		585.1

(1) For a definition of segment earnings, see Note 3 , "Summary of Significant Accounting Policies — Segment Reporting."

A reconciliation of segment earnings to consolidated income before provision for income taxes and equity in net income of affiliates is shown below (in millions):


For the year ended December 31,	2023		2022		2021
Segment earnings	$	1,295.8	$	967.4	$	972.5
Corporate and regional headquarters and elimination of intercompany activity ("Other")	(362.6)		(313.1)		(297.1)
Consolidated income before interest, other expense, provision for income taxes and equity in net income of affiliates	933.2		654.3		675.4
Interest expense, net	101.1		98.6		91.8
Other expense, net	54.9		46.4		0.1
Consolidated income before provision for income taxes and equity in net income of affiliates	$	777.2	$	509.3	$	583.5

Revenues from external customers and tangible long-lived assets for each of the geographic areas in which the Company operates is shown below (in millions):


For the year ended December 31,	2023		2022		2021
Revenues from external customers
United States	$	4,863.8	$	4,751.6	$	4,410.7
Mexico	3,434.4		3,182.7		2,465.8
China	3,044.9		2,976.1		3,018.1
Germany	1,402.2		1,211.0		1,309.9
Other countries	10,721.6		8,770.1		8,058.6
Total	$	23,466.9	$	20,891.5	$	19,263.1


December 31,	2023		2022
Tangible long-lived assets (1)
United States	$	730.6	$	688.3
Mexico	740.5		735.5
China	457.0		463.8
Germany	200.3		186.8
Other countries	1,582.5		1,481.4
Total	$	3,710.9	$	3,555.8

(1) Tangible long-lived assets include property, plant and equipment and right-of-use assets.

A summary of revenues from major customers is shown below:


For the year ended December 31,	2023	2022	2021
General Motors	19.8%	20.2%	18.2%
Ford	11.4%	13.5%	13.5%
Volkswagen	11.0%	10.8%	11.8%
Mercedes-Benz	10.4%	11.3%	11.2%
Stellantis	10.2%	10.3%	10.9%

- 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
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 22
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-22

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 15
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-15

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 31
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-31

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 32
-Subparagraph (d)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-32

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 42
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-42

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 32
-Subparagraph (f)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-32

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 40
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-40

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-Name Accounting Standards Codification
-Publisher FASB
-URI https://asc.fasb.org//280/tableOfContent

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 26
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-26

Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 34
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-34

Reference 11: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 41
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-41

Reference 12: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 21
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-21

Reference 13: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 21
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-21

Reference 14: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 32
-Subparagraph (e)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-32

+ Details

Summary of Significant Accounting Policies - Narrative (Details) $ in Millions	12 Months Ended
	Dec. 31, 2023 USD ($) segment	Dec. 31, 2022 USD ($)	Dec. 31, 2021 USD ($)
Accounting Policies [Line Items]
Accounts receivable, reserves	$ 35.6	$ 35.3
Company recorded E&D costs	611.4
Capitalized pre-production E&D costs	291.8	249.5
Capitalized pre-production tooling costs related to customer-owned tools	162.8	185.3
Cash collected related to E&D and tooling costs	417.0	435.8
Depreciation expense	541.9	505.7	$ 500.6
Capital expenditures recorded in accounts payable	133.1	150.2	147.8
Intangible assets gross carrying value	1.3	19.4
Fixed asset impairment charges	6.3	$ 5.7	7.7
Impairment loss	$ 7.0		$ 1.0
Percentage of net sales	1.00%	1.00%	1.00%
Contract liabilities	$ 0.0	$ 0.0
Contract liabilities recognized in revenue	0.0	0.0	$ 0.0
Foreign currency transaction losses	$ 53.0	30.4	24.8
Number of reportable operating segments \| segment	2
RUSSIAN FEDERATION
Accounting Policies [Line Items]
Fixed asset impairment charges		4.4
Hyperinflation in Argentina
Accounting Policies [Line Items]
Foreign currency transaction losses	$ 30.6
Russia Ukraine Conflict
Accounting Policies [Line Items]
Foreign currency transaction losses		9.6
Cost of sales
Accounting Policies [Line Items]
Company recorded E&D costs	138.8	145.2	139.5
Selling, general and administrative expenses
Accounting Policies [Line Items]
Company recorded E&D costs	180.8	173.6	170.7
Corporate, Non-Segment
Accounting Policies [Line Items]
Company recorded E&D costs	5.1
Seating Operating Segment
Accounting Policies [Line Items]
Company recorded E&D costs	$ 375.8
Company recorded E&D cost related to sale rate	2.00%
E-Systems
Accounting Policies [Line Items]
Company recorded E&D costs	$ 230.5
Company recorded E&D cost related to sale rate	4.00%
Impairment of intangible assets	$ 1.9	$ 8.9	$ 8.5
Impairment, Intangible Asset, Finite-Lived, Statement of Income or Comprehensive Income [Extensible Enumeration]	Amortization of intangible assets		Amortization of intangible assets

Pension and Other Postretirement Benefit Plans - Reconciliation of Change in Benefit Obligation, Change in Plan Assets and Amounts Recognized in Consolidated Balance Sheet (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
U.S. \| Pension
Change in benefit obligation:
Benefit obligation at beginning of period	$ 387.9	$ 536.5
Service cost	0.0	0.0	$ 0.0
Interest cost	20.7	15.5	14.5
Actuarial (gains) losses	18.5	(142.3)
Benefits paid	(21.8)	(21.8)
Translation adjustment	0.0	0.0
Benefit obligation at end of period	405.3	387.9	536.5
Change in plan assets:
Fair value of plan assets at beginning of period	348.5	444.2
Actual return on plan assets	38.5	(77.1)
Employer contributions	3.0	3.2
Benefits paid	(21.8)	(21.8)
Translation adjustment	0.0	0.0
Fair value of plan assets at end of period	368.2	348.5	444.2
Funded status	(37.1)	(39.4)
Amounts recognized in the consolidated balance sheet:
Other long-term assets	0.5	0.0
Accrued liabilities	(2.1)	(2.9)
Other long-term liabilities	(35.5)	(36.5)
U.S. \| Other Postretirement
Change in benefit obligation:
Benefit obligation at beginning of period	29.1	56.0
Service cost	0.0	0.0
Interest cost	1.5	1.5	1.4
Actuarial (gains) losses	0.7	(25.8)
Benefits paid	(2.2)	(2.6)
Translation adjustment	0.0	0.0
Benefit obligation at end of period	29.1	29.1	56.0
Change in plan assets:
Fair value of plan assets at beginning of period	0.0	0.0
Actual return on plan assets	0.0	0.0
Employer contributions	2.2	2.6
Benefits paid	(2.2)	(2.6)
Translation adjustment	0.0	0.0
Fair value of plan assets at end of period	0.0	0.0	0.0
Funded status	(29.1)	(29.1)
Amounts recognized in the consolidated balance sheet:
Other long-term assets	0.0	0.0
Accrued liabilities	(2.6)	(2.6)
Other long-term liabilities	(26.5)	(26.5)
Foreign \| Pension
Change in benefit obligation:
Benefit obligation at beginning of period	339.5	479.9
Service cost	3.4	4.2	5.3
Interest cost	16.7	11.2	10.5
Actuarial (gains) losses	26.5	(98.3)
Benefits paid	(21.8)	(22.9)
Translation adjustment	9.5	(34.6)
Benefit obligation at end of period	373.8	339.5	479.9
Change in plan assets:
Fair value of plan assets at beginning of period	307.0	392.5
Actual return on plan assets	31.4	(41.0)
Employer contributions	5.3	6.1
Benefits paid	(21.8)	(22.9)
Translation adjustment	9.1	(27.7)
Fair value of plan assets at end of period	331.0	307.0	392.5
Funded status	(42.8)	(32.5)
Amounts recognized in the consolidated balance sheet:
Other long-term assets	67.1	62.3
Accrued liabilities	(3.5)	(3.4)
Other long-term liabilities	(106.4)	(91.4)
Foreign \| Other Postretirement
Change in benefit obligation:
Benefit obligation at beginning of period	17.6	24.5
Service cost	0.0	0.0
Interest cost	0.9	0.7	0.7
Actuarial (gains) losses	(1.8)	(4.8)
Benefits paid	(1.4)	(1.2)
Translation adjustment	0.4	(1.6)
Benefit obligation at end of period	15.7	17.6	24.5
Change in plan assets:
Fair value of plan assets at beginning of period	0.0	0.0
Actual return on plan assets	0.0	0.0
Employer contributions	1.4	1.2
Benefits paid	(1.4)	(1.2)
Translation adjustment	0.0	0.0
Fair value of plan assets at end of period	0.0	0.0	$ 0.0
Funded status	(15.7)	(17.6)
Amounts recognized in the consolidated balance sheet:
Other long-term assets	0.0	0.0
Accrued liabilities	(1.3)	(1.4)
Other long-term liabilities	$ (14.4)	$ (16.2)

Leases - Summary of Lease expense (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Leases [Abstract]
Operating lease expense	$ 182.9	$ 164.5	$ 160.3
Short-term lease expense	20.7	22.1	19.4
Variable lease expense	9.7	8.4	7.9
Total lease expense	$ 213.3	$ 195.0	$ 187.6

Capital Stock, Accumulated Other Comprehensive Loss and Equity - Summary of Changes in Accumulated Other Comprehensive Loss, Net of Tax (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
AOCI Including Portion Attributable to Noncontrolling Interest, Net of Tax
Balance at beginning of year	$ 4,830.3	$ 4,808.4	$ 4,614.9
Balance at end of year	5,060.6	4,830.3	4,808.4
Defined benefit plans:
AOCI Including Portion Attributable to Noncontrolling Interest, Net of Tax
Balance at beginning of year	(95.7)	(199.4)	(276.9)
Reclassification adjustments (net of tax expense/benefit)	(1.0)	4.0	7.1
Other comprehensive income (loss) recognized during the period	(10.6)	99.7	70.4
Balance at end of year	(107.3)	(95.7)	(199.4)
Comprehensive income (loss), tax
Reclassification adjustments, tax expense (benefit)	(0.2)	1.0	2.1
Other comprehensive income (loss), tax (expense) benefit	2.0	(23.9)	(20.6)
Derivative instruments and hedge activities:
AOCI Including Portion Attributable to Noncontrolling Interest, Net of Tax
Balance at beginning of year	33.4	(18.6)	12.6
Reclassification adjustments (net of tax expense/benefit)	(141.3)	(35.3)	(36.0)
Other comprehensive income (loss) recognized during the period	215.8	87.3	4.8
Balance at end of year	107.9	33.4	(18.6)
Comprehensive income (loss), tax
Reclassification adjustments, tax expense (benefit)	(35.1)	(8.5)	(8.7)
Other comprehensive income (loss), tax (expense) benefit	(51.0)	(19.1)	(1.2)
Currency translation adjustments:
AOCI Including Portion Attributable to Noncontrolling Interest, Net of Tax
Balance at beginning of year	(742.8)	(552.2)	(440.8)
Other comprehensive income (loss) recognized during the period	53.4	(190.6)	(111.4)
Balance at end of year	(689.4)	(742.8)	(552.2)
Comprehensive income (loss), tax
Other comprehensive income (loss), tax (expense) benefit	$ 1.2	$ (4.7)	$ (4.1)

Debt - Summary of Long-Term Debt (Details) - USD ($) $ in Millions	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2017
Debt Instrument
Long-Term Debt	$ 2,750.0	$ 2,600.0
Other	1.3	11.8
Debt and lease obligation, gross	2,751.3	2,611.8
Unamortized Debt Issuance Costs	(17.4)	(18.7)
Unamortized Original Issue Premium (Discount)	9.0	8.9
Debt and lease obligation	2,742.9	2,602.0
Less — Current portion	(0.3)	(10.8)
Long-term debt	$ 2,742.6	$ 2,591.2
Finance Lease, Liability, Statement of Financial Position [Extensible Enumeration]	Long-term debt	Long-term debt
Delayed-Draw Term Loan Facility (the "Term Loan")
Debt Instrument
Long-Term Debt	$ 150.0
Unamortized Debt Issuance Costs	(0.5)
Unamortized Original Issue Premium (Discount)	0.0
Long-Term Debt, Net	$ 149.5
Weighted Average Interest Rate	6.575%
Senior Notes \| 3.8% Senior Notes due 2027 (the "2027 Notes")
Debt Instrument
Stated interest rate	3.80%					3.80%
Long-Term Debt	$ 550.0	$ 550.0
Unamortized Debt Issuance Costs	(1.6)	(2.1)
Unamortized Original Issue Premium (Discount)	(1.4)	(1.8)
Long-Term Debt, Net	$ 547.0	546.1
Weighted Average Interest Rate	3.885%
Senior Notes \| 4.25% Senior Notes due 2029 (the "2029 Notes")
Debt Instrument
Stated interest rate	4.25%				4.25%
Long-Term Debt	$ 375.0	375.0
Unamortized Debt Issuance Costs	(1.7)	(2.0)
Unamortized Original Issue Premium (Discount)	(0.6)	(0.7)
Long-Term Debt, Net	$ 372.7	372.3
Weighted Average Interest Rate	4.288%
Senior Notes \| 3.5% Senior Notes due 2030 (the "2030 Notes")
Debt Instrument
Stated interest rate	3.50%			3.50%
Long-Term Debt	$ 350.0	350.0
Unamortized Debt Issuance Costs	(1.8)	(2.0)
Unamortized Original Issue Premium (Discount)	(0.5)	(0.6)
Long-Term Debt, Net	$ 347.7	347.4
Weighted Average Interest Rate	3.525%
Senior Notes \| 2.6% Senior Notes due 2032 (the "2032 Notes")
Debt Instrument
Stated interest rate	2.60%		2.60%
Long-Term Debt	$ 350.0	350.0
Unamortized Debt Issuance Costs	(2.5)	(2.8)
Unamortized Original Issue Premium (Discount)	(0.7)	(0.7)
Long-Term Debt, Net	$ 346.8	346.5
Weighted Average Interest Rate	2.624%
Senior Notes \| 5.25% Senior Notes due 2049 (the "2049 Notes")
Debt Instrument
Stated interest rate	5.25%				5.25%
Long-Term Debt	$ 625.0	625.0
Unamortized Debt Issuance Costs	(5.6)	(6.0)
Unamortized Original Issue Premium (Discount)	12.6	13.2
Long-Term Debt, Net	$ 632.0	632.2
Weighted Average Interest Rate	5.103%
Senior Notes \| 3.55% Senior Notes due 2052 (the "2052 Notes")
Debt Instrument
Stated interest rate	3.55%		3.55%
Long-Term Debt	$ 350.0	350.0
Unamortized Debt Issuance Costs	(3.7)	(3.8)
Unamortized Original Issue Premium (Discount)	(0.4)	(0.5)
Long-Term Debt, Net	$ 345.9	$ 345.7
Weighted Average Interest Rate	3.558%

Revenue Recognition (Details) - USD ($) $ in Millions	12 Months Ended
Revenue Recognition (Details) - USD ($) $ in Millions	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Disaggregation of Revenue
Revenues	$ 23,466.9	$ 20,891.5	$ 19,263.1
Seating
Disaggregation of Revenue
Revenues	17,548.8	15,711.2	14,411.4
E-Systems
Disaggregation of Revenue
Revenues	5,918.1	5,180.3	4,851.7
North America
Disaggregation of Revenue
Revenues	9,503.4	8,910.7	7,548.2
North America \| Seating
Disaggregation of Revenue
Revenues	7,797.9	7,416.3	6,277.2
North America \| E-Systems
Disaggregation of Revenue
Revenues	1,705.5	1,494.4	1,271.0
Europe and Africa
Disaggregation of Revenue
Revenues	8,612.6	6,946.0	6,745.3
Europe and Africa \| Seating
Disaggregation of Revenue
Revenues	6,167.9	4,944.0	4,805.5
Europe and Africa \| E-Systems
Disaggregation of Revenue
Revenues	2,444.7	2,002.0	1,939.8
Asia
Disaggregation of Revenue
Revenues	4,445.0	4,183.2	4,227.9
Asia \| Seating
Disaggregation of Revenue
Revenues	2,947.5	2,731.9	2,759.9
Asia \| E-Systems
Disaggregation of Revenue
Revenues	1,497.5	1,451.3	1,468.0
South America
Disaggregation of Revenue
Revenues	905.9	851.6	741.7
South America \| Seating
Disaggregation of Revenue
Revenues	635.5	619.0	568.8
South America \| E-Systems
Disaggregation of Revenue
Revenues	$ 270.4	$ 232.6	$ 172.9

- Definition

Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.

+ References + Details

- Definition

+ References

+ Details

Financial Instruments - Marketable Equity Securities (Details) - Marketable Equity Securities - USD ($) $ in Millions	Dec. 31, 2023	Dec. 31, 2022
Debt and Equity Securities, FV-NI [Line Items]
Other current assets	$ 4.8	$ 3.6
Other long-term assets	68.5	53.6
Marketable equity securities	$ 73.3	$ 57.2

Stock-Based Compensation (Tables)

12 Months Ended

Dec. 31, 2023

Share-Based Payment Arrangement [Abstract]

Restricted Stock Unit and Performance Share Transactions

A summary of restricted stock units, performance shares and stock options for the year ended December 31, 2023, is shown below:


	Restricted Stock Units	Weighted Average Grant Date Fair Value	Performance Shares	Weighted Average Grant Date Fair Value	Stock Options	Weighted Average Grant Date Fair Value
Outstanding as of December 31, 2022	494,461	$145.64	726,485	$201.83	202,702	$32.65
Granted	240,389	$130.38	430,899	$138.54	—
Distributed (vested)	(159,830)		(132,302)		—
Cancelled	(5,696)		(110,171)		—
Outstanding as of December 31, 2023 (1)	569,324	$138.21	914,911	$161.36	202,702	$32.65

Vested or expected to vest as of December 31, 2023	569,324		611,161		—

(1) Outstanding performance shares are reflected at the maximum possible payout that may be earned during the relevant performance periods.

Debt - Term Loan (Details) - Delayed-Draw Term Loan Facility (the "Term Loan") - USD ($)	1 Months Ended
	May 31, 2023	Dec. 31, 2023
Debt Instrument
Weighted Average Interest Rate		6.575%
I.G. Bauerhin
Debt Instrument
Line of credit facility, maximum borrowing capacity	$ 150,000,000
Debt instrument, term	3 years
SOFR \| Minimum
Debt Instrument
Basis spread on variable rate	1.00%
SOFR \| Maximum
Debt Instrument
Basis spread on variable rate	1.525%

Investments in Affiliates and Other Related Party Transactions - Summary of Transactions with Affiliates and Other Related Parties (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Related Party Transaction
Sales to affiliates	$ 23,466.9	$ 20,891.5	$ 19,263.1
Purchases from affiliates	2.1	9.0	4.4
Management and other fees for services provided to affiliates	32.7	32.6	38.5
Dividends received from affiliates	21.7	21.1	26.8
Affiliated Entity
Related Party Transaction
Sales to affiliates	$ 654.6	$ 783.0	$ 676.6

- Definition

Amount, including 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.

+ References

+ Details

Summary of Significant Accounting Policies - Classification of Recoverable Customer Engineering, Development and Tooling Costs related to Long-Term Supply Agreements (Details) - USD ($) $ in Millions	Dec. 31, 2023	Dec. 31, 2022
Pre Production Costs Related to Long Term Supply Arrangements
Recoverable customer E&D and tooling	$ 384.5	$ 337.0
Current
Pre Production Costs Related to Long Term Supply Arrangements
Recoverable customer E&D and tooling	220.2	175.7
Long-term
Pre Production Costs Related to Long Term Supply Arrangements
Recoverable customer E&D and tooling	$ 164.3	$ 161.3

Income Taxes - Summary of Differences Between Provision (Benefit) for Income Taxes Calculated at United States Federal Statutory Income Tax Rate and Consolidated Provision (Benefit) for Income Taxes (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Income Tax Disclosure [Abstract]
Consolidated income before provision for income taxes and equity in net income of affiliates multiplied by the United States federal statutory income tax rate	$ 163.2	$ 107.0	$ 122.5
Differences in income taxes on foreign earnings, losses and remittances	43.2	24.5	30.4
Valuation allowance adjustments	(3.3)	45.2	29.0
Research and development and other tax credits	(15.9)	(15.0)	(19.0)
FDII deduction	(20.1)	(16.9)	(6.0)
U.S. tax impact of foreign earnings	3.4	(6.3)	(9.8)
Tax audits and assessments	1.5	3.2	3.2
Other	8.8	(8.0)	(12.6)
Provision for income taxes	$ 180.8	$ 133.7	$ 137.7

Pension and Other Postretirement Benefit Plans - Narrative (Details) $ in Millions	12 Months Ended
	Dec. 31, 2023 USD ($) plan agreement	Dec. 31, 2022 USD ($)	Dec. 31, 2021 USD ($)	Dec. 31, 2024 USD ($)
Defined Benefit Plan Disclosure
Accumulated benefit obligation	$ 769.3	$ 720.5
Tax (expense) benefit related to defined benefit plans recognized in other comprehensive income (loss)	$ 2.2	(24.9)	$ (22.7)
Number of multi-employer pension plans \| plan	2
Number of collective bargaining agreements \| agreement	4
Defined Contribution Retirement Program
Defined Benefit Plan Disclosure
Defined contribution expense	$ 27.6	$ 23.5	20.4
Unionized Employees \| Multi-employer Plan Total Contributions
Defined Benefit Plan Disclosure
Concentration risk percentage (more than)	5.00%	5.00%
U.S. \| Minimum
Defined Benefit Plan Disclosure
Debt, weighted average interest rate	4.70%	4.70%
Foreign
Defined Benefit Plan Disclosure
Defined contribution expense	$ 19.7	$ 18.2	$ 16.4
Pension \| Forecast
Defined Benefit Plan Disclosure
Estimated required contributions to pension plans in next fiscal year				$ 2.0
Pension \| Minimum
Defined Benefit Plan Disclosure
Period for amortizing actuarial losses	3 years
Pension \| Maximum
Defined Benefit Plan Disclosure
Period for amortizing actuarial losses	31 years
Pension \| U.S. \| Minimum \| Return Seeking Assets
Defined Benefit Plan Disclosure
Target percentage of asset allocation	40.00%
Pension \| U.S. \| Minimum \| Risk Mitigating Assets
Defined Benefit Plan Disclosure
Target percentage of asset allocation	40.00%
Pension \| U.S. \| Maximum \| Return Seeking Assets
Defined Benefit Plan Disclosure
Target percentage of asset allocation	60.00%
Pension \| U.S. \| Maximum \| Risk Mitigating Assets
Defined Benefit Plan Disclosure
Target percentage of asset allocation	60.00%
Pension \| Foreign \| Minimum \| Equity Securities
Defined Benefit Plan Disclosure
Target percentage of asset allocation	0.00%
Pension \| Foreign \| Minimum \| Fixed Income
Defined Benefit Plan Disclosure
Target percentage of asset allocation	65.00%
Pension \| Foreign \| Minimum \| Alternative Investments
Defined Benefit Plan Disclosure
Target percentage of asset allocation	0.00%
Pension \| Foreign \| Minimum \| Cash and Other
Defined Benefit Plan Disclosure
Target percentage of asset allocation	0.00%
Pension \| Foreign \| Maximum \| Equity Securities
Defined Benefit Plan Disclosure
Target percentage of asset allocation	35.00%
Pension \| Foreign \| Maximum \| Fixed Income
Defined Benefit Plan Disclosure
Target percentage of asset allocation	100.00%
Pension \| Foreign \| Maximum \| Alternative Investments
Defined Benefit Plan Disclosure
Target percentage of asset allocation	10.00%
Pension \| Foreign \| Maximum \| Cash and Other
Defined Benefit Plan Disclosure
Target percentage of asset allocation	10.00%
Other Postretirement \| Minimum
Defined Benefit Plan Disclosure
Period for amortizing actuarial losses	6 years
Other Postretirement \| Maximum
Defined Benefit Plan Disclosure
Period for amortizing actuarial losses	15 years

Consolidated Statements of Equity - USD ($) $ in Millions	Total	Lear Corporation Stockholders' Equity	Common Stock	Additional Paid-in Capital	Common Stock Held in Treasury	Retained Earnings	Defined Benefit Plans	Derivative Instruments and Hedge Activities	Cumulative Translation Adjustments	Non-controlling Interests
Balance at beginning of year at Dec. 31, 2020	$ 4,614.9	$ 4,467.3	$ 0.6	$ 963.6	$ (598.6)	$ 4,806.8	$ (276.9)	$ 12.6	$ (440.8)	$ 147.6
Comprehensive income (loss):
Net income	461.6	373.9				373.9				87.7
Other comprehensive income (loss)	(62.0)	(65.1)					77.5	(31.2)	(111.4)	3.1
Total comprehensive income (loss)	399.6	308.8				373.9	77.5	(31.2)	(111.4)	90.8
Stock-based compensation	60.3	60.3		60.3
Net issuances of shares held in treasury in settlement of stock-based compensation	(13.4)	(13.4)		(33.1)	19.7	0.0
Repurchases of common stock	(100.3)	(100.3)			(100.3)
Dividends declared to Lear Corporation stockholders	(107.9)	(107.9)				(107.9)
Dividends declared to noncontrolling interests	(81.0)									(81.0)
Affiliate transaction	36.2	28.6		28.6						7.6
Balance at end of year at Dec. 31, 2021	4,808.4	4,643.4	0.6	1,019.4	(679.2)	5,072.8	(199.4)	(18.6)	(552.2)	165.0
Comprehensive income (loss):
Net income	408.7	327.7				327.7				81.0
Other comprehensive income (loss)	(42.4)	(34.9)					103.7	52.0	(190.6)	(7.5)
Total comprehensive income (loss)	366.3	292.8				327.7	103.7	52.0	(190.6)	73.5
Stock-based compensation	52.0	52.0		52.0
Net issuances of shares held in treasury in settlement of stock-based compensation	(22.9)	(22.9)		(48.3)	25.6	(0.2)
Repurchases of common stock	(100.3)	(100.3)			(100.3)
Dividends declared to Lear Corporation stockholders	(186.2)	(186.2)				(186.2)
Dividends declared to noncontrolling interests	(87.6)									(87.6)
Change in noncontrolling interests	0.6									0.6
Balance at end of year at Dec. 31, 2022	4,830.3	4,678.8	0.6	1,023.1	(753.9)	5,214.1	(95.7)	33.4	(742.8)	151.5
Comprehensive income (loss):
Net income	645.7	572.5				572.5				73.2
Other comprehensive income (loss)	113.8	116.3					(11.6)	74.5	53.4	(2.5)
Total comprehensive income (loss)	759.5	688.8				572.5	(11.6)	74.5	53.4	70.7
Stock-based compensation	67.5	67.5		67.5
Net issuances of shares held in treasury in settlement of stock-based compensation	(15.8)	(15.8)		(40.1)	25.3	(1.0)
Repurchases of common stock	(316.0)	(316.0)			(316.0)
Dividends declared to Lear Corporation stockholders	(184.5)	(184.5)				(184.5)
Dividends declared to noncontrolling interests	(80.4)									(80.4)
Balance at end of year at Dec. 31, 2023	$ 5,060.6	$ 4,918.8	$ 0.6	$ 1,050.5	$ (1,044.6)	$ 5,601.1	$ (107.3)	$ 107.9	$ (689.4)	$ 141.8

Financial Instruments (Tables)

12 Months Ended

Dec. 31, 2023

Investments, All Other Investments [Abstract]

Estimated Aggregate Fair 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):


December 31,	2023		2022
Estimated aggregate fair value (1)	$	2,464.5	$	2,142.3
Aggregate carrying value (1) (2)	2,750.0		2,600.0

(1) Excludes "other" debt.

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

Restricted Cash


December 31,	2023		2022		2021
Balance sheet — cash and cash equivalents	$	1,196.3	$	1,114.9	$	1,318.3
Restricted cash included in other current assets	0.6		0.3		1.4
Restricted cash included in other long-term assets	1.6		2.2		1.6
Statement of cash flows — cash, cash equivalents and restricted cash	$	1,198.5	$	1,117.4	$	1,321.3

Cash and Cash Equivalents


December 31,	2023		2022		2021
Balance sheet — cash and cash equivalents	$	1,196.3	$	1,114.9	$	1,318.3
Restricted cash included in other current assets	0.6		0.3		1.4
Restricted cash included in other long-term assets	1.6		2.2		1.6
Statement of cash flows — cash, cash equivalents and restricted cash	$	1,198.5	$	1,117.4	$	1,321.3

Marketable Equity Securities

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


December 31,	2023		2022
Other current assets	$	4.8	$	3.6
Other long-term assets	68.5		53.6
	$	73.3	$	57.2

Notional Amount and Estimated Fair Value of Foreign Currency Contracts and Related Classification

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


December 31,	2023		2022
Fair value of foreign currency contracts designated as cash flow hedges:
Other current assets	$	137.2	$	63.4
Other long-term assets	19.9		10.3
Other current liabilities	(1.8)		(6.7)
Other long-term liabilities	(0.5)		(0.2)
	154.8		66.8
Notional amount	$	2,352.3	$	1,546.9
Outstanding maturities in months, not to exceed	24		24
Fair value of derivatives designated as net investment hedges:
Other long-term assets	$	—	$	4.8

Other long-term liabilities	(1.1)		—
	(1.1)		4.8
Notional amount	$	150.0	$	150.0
Outstanding maturities in months, not to exceed	27		39
Fair value of foreign currency contracts not designated as hedge instruments:
Other current assets	$	5.8	$	9.5
Other current liabilities	(1.2)		(13.4)
	4.6		(3.9)
Notional amount	$	569.9	$	758.6
Outstanding maturities in months, not to exceed	1		7
Total fair value	$	158.3	$	67.7
Total notional amount	$	3,072.2	$	2,455.5

Pretax Amounts Recognized in and Reclassified from Accumulated Other Comprehensive Loss and Net Gains (Losses) Expected to be Reclassified into Earnings

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


For the year ended December 31,	2023		2022		2021
Gains (losses) recognized in accumulated other comprehensive loss:
Foreign currency contracts	$	266.8	$	106.4	$	6.0

Net investment hedges	(5.9)		25.3		17.9
	260.9		131.7		23.9
(Gains) losses reclassified from accumulated other comprehensive loss to:
Net sales	(1.9)		(12.4)		(4.4)
Cost of sales	(177.3)		(33.8)		(42.7)
Interest expense, net	2.4		2.4		2.4
Other expense, net	0.4		—		—
	(176.4)		(43.8)		(44.7)
Comprehensive income (loss)	$	84.5	$	87.9	$	(20.8)

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


Foreign currency contracts	$	135.3
Interest rate swap contracts	(2.4)

Total	$	132.9

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

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 December 31, 2023 and 2022, are shown below (in millions):


	December 31, 2023
	Frequency	Asset (Liability)		Valuation Technique	Level 1		Level 2		Level 3
Foreign currency contracts, net	Recurring	$	159.4	Market / Income	$	—	$	159.4	$	—
Net investment hedges	Recurring	(1.1)		Market / Income	—		(1.1)		—
Marketable equity securities	Recurring	73.3		Market	73.3		—		—


	December 31, 2022
	Frequency	Asset (Liability)		Valuation Technique	Level 1		Level 2		Level 3
Foreign currency contracts, net	Recurring	$	62.9	Market / Income	$	—	$	62.9	$	—
Net investment hedges	Recurring	4.8		Market / Income	—		4.8		—
Marketable equity securities	Recurring	57.2		Market	57.2		—		—

Restructuring

12 Months Ended

Dec. 31, 2023

Restructuring and Related Activities [Abstract]

Restructuring

Charges recorded in connection with the Company's restructuring actions are shown below (in millions):


For the year ended December 31,	2023		2022		2021
Employee termination benefits	$	119.2	$	121.9	$	85.1
Asset impairments
Property, plant and equipment	5.1		9.9		4.2
Right-of-use assets	10.9		6.5		7.2
Contract termination costs	5.7		4.5		0.3
Other related net costs	(8.2)		11.4		4.1
	$	132.7	$	154.2	$	100.9

Restructuring charges by income statement account are shown below (in millions):


For the year ended December 31,	2023		2022		2021
Cost of sales	$	130.2	$	129.7	$	75.6
Selling, general and administrative expenses	20.7		24.5		32.0
Other (income) expense, net	(18.2)		—		(6.7)
	$	132.7	$	154.2	$	100.9

Restructuring charges by operating segment are shown below (in millions):


For the year ended December 31,	2023		2022		2021
Seating	$	99.5	$	65.3	$	45.7
E-Systems	30.5		82.8		47.7
Other	2.7		6.1		7.5
	$	132.7	$	154.2	$	100.9

The Company expects to incur approximately $62 million and approximately $14 million of additional restructuring costs in its Seating and E-Systems segments, respectively, related to activities initiated as of December 31, 2023, and expects that the components of such costs will be consistent with its historical experience.

A summary of the changes in the Company's restructuring reserves is shown below (in millions):


	2023		2022
Balance as of January 1,	$	82.9	$	129.4
Provision for employee termination benefits	119.2		121.9
Payments, utilizations and foreign currency	(80.5)		(168.4)
Balance as of December 31,	$	121.6	$	82.9

Leases - Summary of Maturity of Lease Liabilities (Details) - USD ($) $ in Millions	Dec. 31, 2023	Dec. 31, 2022
Lessee
2024	$ 177.9
2025	156.3
2026	131.6
2027	108.6
2028	87.8
Thereafter	213.2
Total undiscounted cash flows	875.4
Less: Imputed interest	(100.5)
Lease obligations under operating leases	$ 774.9	$ 731.9

Legal and Other Contingencies (Tables)

12 Months Ended

Dec. 31, 2023

Commitments and Contingencies Disclosure [Abstract]

Summary of Changes in Reserves for Product Liability and Warranty Claims

A summary of the changes in reserves for warranty and recall matters for each of the periods in the two years ended December 31, 2023, is shown below (in millions):


Balance as of December 31, 2021	$	46.0
Expense, net (including changes in estimates)	6.6
Settlements	(19.6)
Foreign currency translation and other	(2.6)
Balance as of December 31, 2022	30.4
Expense, net (including changes in estimates)	9.5
Settlements	(13.2)
Foreign currency translation and other	5.7
Balance as of December 31, 2023	$	32.4

Schedule of Classification of Insurance Recoveries

The classification of insurance recoveries included in the accompanying consolidated financial statements is shown below (in millions):


For the year ended December 31,	2023		2022
Consolidated statements of income
Cost of sales	$	3.9	$	13.3
Other expense, net	4.0		1.4

Consolidated statements of cash flows
Cash flows from operating activities	8.2		12.8
Cash flows from investing activities	1.1		0.5

Debt - Credit Agreement Narrative (Details) - USD ($)	1 Months Ended		12 Months Ended
Debt - Credit Agreement Narrative (Details) - USD ($)	Nov. 30, 2023	Nov. 30, 2021	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021	Oct. 31, 2021	Dec. 31, 2017
Debt Instrument
Repayment of term loan facility			$ 0	$ 0	$ 220,300,000
Loss on extinguishment of debt			0	0	24,600,000
Payments of related issuance costs		$ 2,800,000	1,200,000	0	9,900,000
Credit Agreement
Debt Instrument
Loss on extinguishment of debt		700,000
Term Loan Facility
Debt Instrument
Repayment of term loan facility		$ 206,300,000			220,300,000
Credit Agreement — Revolving Credit Facility \| Credit Agreement
Debt Instrument
Proceeds from line of credit			0	65,000,000	0
Repayments of lines of credit			0	65,000,000	$ 0
Borrowings outstanding			$ 0	$ 0
Credit Agreement — Revolving Credit Facility \| Credit Agreement \| Minimum
Debt Instrument
Line of credit facility, facility fee			0.075%
Credit Agreement — Revolving Credit Facility \| Credit Agreement \| Maximum
Debt Instrument
Debt instrument, face amount						$ 2,000,000,000
Line of credit facility, facility fee			0.20%
Credit Agreement — Revolving Credit Facility \| Credit Agreement \| Credit Agreement
Debt Instrument
Line of credit facility, maximum borrowing capacity							$ 1,750,000,000
Credit Agreement — Revolving Credit Facility \| Term Loan Facility \| Credit Agreement
Debt Instrument
Debt instrument, face amount							$ 250,000,000
Extension Agreement \| Credit Agreement
Debt Instrument
Payments of related issuance costs	$ 1,200,000

Income Taxes - Narrative (Details) - USD ($) $ in Millions	12 Months Ended
Income Taxes - Narrative (Details) - USD ($) $ in Millions	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Income Taxes
Unrecognized net operating loss carryforwards, foreign	$ 8.0	$ 0.8	$ 2.9
Foreign jurisdictions income with tax holidays	48.4	40.5	55.6
Valuation allowance for deferred tax assets	429.0	417.9
Deferred tax asset	$ 11.1
Income tax rate deduction dividend percent	100.00%
Tax loss carryforwards	$ 1,700.0
Tax loss carryforwards with no expiration date	1,400.0
Tax loss carryforwards with expiration date	252.8
Tax credit carryforwards	240.4
Unrecognized tax benefits	33.1	32.7	34.9	$ 36.4
Unrecognized tax benefits, interest and penalties	11.6	$ 12.3	12.7
Decrease in unrecognized tax benefits, reasonably possible during the next twelve months	5.0
Excise taxes on share repurchases value	2.9
Indirect tax credit			45.0
Tax expense related to indirect tax credit			$ 8.0
U.S.
Income Taxes
Valuation allowance for deferred tax assets	30.6
Foreign tax credits	69.4
Tax credit carryforwards, research	128.1
International Jurisdictions
Income Taxes
Valuation allowance for deferred tax assets	398.4
Tax credit carryforwards, other	$ 42.9

Legal and Other Contingencies

12 Months Ended

Dec. 31, 2023

Commitments and Contingencies Disclosure [Abstract]

Legal and Other Contingencies

As of December 31, 2023 and 2022, the Company had recorded reserves for pending legal disputes, including commercial disputes, product liability claims and other legal matters, of $13.5 million and $15.9 million, respectively. Such reserves reflect amounts recognized in accordance with GAAP and typically exclude the cost of legal representation. Reserves for warranty and recall matters 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, Warranty and Recall 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 support warranty costs or 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.

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 warranty and recall matters.

In certain instances, allegedly defective products may be supplied by the Company's 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 claims and/or warranty and recall matters. 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 warranty and recall matters.

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

A summary of the changes in reserves for warranty and recall matters for each of the periods in the two years ended December 31, 2023, is shown below (in millions):


Balance as of December 31, 2021	$	46.0
Expense, net (including changes in estimates)	6.6
Settlements	(19.6)
Foreign currency translation and other	(2.6)
Balance as of December 31, 2022	30.4
Expense, net (including changes in estimates)	9.5
Settlements	(13.2)
Foreign currency translation and other	5.7
Balance as of December 31, 2023	$	32.4

Environmental Matters

The Company is subject to local, state, federal and foreign laws, regulations and ordinances which govern activities or operations that may have or have had adverse environmental effects. These regulations 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 December 31, 2023 and 2022, the Company had recorded environmental reserves of $4.9 million and $7.9 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, warranty and recall matters, 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.

Insurance Recoveries

The Company incurred losses and incremental costs related to the destruction of assets caused by a typhoon in the Philippines in December 2021. In 2022 and 2023, the Company reached an installment settlement and a final settlement, respectively, for the recovery of such costs under applicable insurance policies. Anticipated proceeds from insurance recoveries related to losses and incremental costs that have been incurred ("loss recoveries") are recognized when receipt is probable. Anticipated proceeds from insurance recoveries in excess of the net book value of destroyed property, plant and equipment ("insurance gain contingencies") are recognized when all contingencies related to the claim have been resolved. Loss recoveries related to the destruction of inventory and incremental costs are included in costs of sales and loss recoveries and insurance gain contingencies related to the destruction of property, plant and equipment are included in other expense, net. Cash proceeds related to the destruction of inventory and incremental costs are included in cash flows from operating activities and cash proceeds related to the destruction of property, plant and equipment are included in cash flows from investing activities.

As of December 31, 2023, the Company had incurred cumulative losses and incremental costs related to the typhoon of $27.1 million, of which $0.6 million was incurred in 2023. As of December 31, 2023, the Company received cumulative cash proceeds of $22.6 million, of which $9.3 million was received in 2023.

The classification of insurance recoveries included in the accompanying consolidated financial statements is shown below (in millions):


For the year ended December 31,	2023		2022
Consolidated statements of income
Cost of sales	$	3.9	$	13.3
Other expense, net	4.0		1.4

Consolidated statements of cash flows
Cash flows from operating activities	8.2		12.8
Cash flows from investing activities	1.1		0.5

Employees

Approximately 47% of the Company's employees are members of industrial trade unions and are employed under the terms of various labor agreements. Labor agreements covering approximately 86% of the Company's global unionized workforce of approximately 88,000 employees (including labor agreements in the United States and Canada covering approximately 2% of the Company's global unionized workforce) are scheduled to expire in 2024. Management does not anticipate any significant difficulties with respect to the renewal of these agreements.

Income Taxes - Summary of Components of Net Deferred Income Tax Asset (Details) - USD ($) $ in Millions	Dec. 31, 2023	Dec. 31, 2022
Deferred income tax assets (liabilities):
Tax loss carryforwards	$ 394.3	$ 397.4
Tax credit carryforwards	240.4	243.9
Retirement benefit plans	24.6	22.6
Accrued liabilities	269.8	208.7
Self-insurance reserves	5.4	5.5
Current asset basis differences	50.3	42.0
Long-term asset basis differences	16.4	3.5
Deferred compensation	35.4	25.8
Capitalized engineering, research and development	201.0	169.6
Undistributed earnings of foreign subsidiaries	(83.9)	(71.7)
Derivative instruments and hedging activities	(31.6)	(10.7)
Other	1.2	1.8
Net deferred income tax asset before valuation allowance	1,123.3	1,038.4
Valuation allowance	(429.0)	(417.9)
Net deferred income tax asset	694.3	620.5
Deferred tax assets, right of use asset	157.3	145.5
Deferred tax liabilities lease obligations	$ 157.3	$ 145.5

Summary of Significant Accounting Policies - Summary of Inventories (Details) - USD ($) $ in Millions	Dec. 31, 2023	Dec. 31, 2022
Accounting Policies [Abstract]
Raw materials	$ 1,260.7	$ 1,216.8
Work-in-process	141.0	126.6
Finished goods	540.8	391.9
Reserves	(184.5)	(161.7)
Inventories	$ 1,758.0	$ 1,573.6

Summary of Significant Accounting Policies

12 Months Ended

Dec. 31, 2023

Accounting Policies [Abstract]

Summary of Significant Accounting Policies

Consolidation

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 (Note 6, "Investments in Affiliates and Other Related Party Transactions").

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.

Cash, Cash Equivalents and Restricted Cash

Cash and cash equivalents include all highly liquid investments with original maturities of ninety days or less. Restricted cash includes cash that is legally restricted as to use or withdrawal.

Accounts Receivable

The Company records accounts receivable as title is transferred to its customers. The Company's customers are the world's major automotive manufacturers. Generally, the Company does not require collateral for its accounts receivable.

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 December 31, 2023 and 2022, accounts receivable are reflected net of reserves of $35.6 million and $35.3 million, respectively. Changes in expected credit losses were not significant during the year ended December 31, 2023.

The Company receives bank notes from its customers, which are classified as other current assets in the consolidated balance sheets, for certain amounts of accounts receivable, primarily in Asia. The Company may hold such bank notes until maturity, exchange them with suppliers to settle liabilities or sell them to third-party financial institutions in exchange for cash.

Inventories

Inventories are stated at the lower of cost or net realizable value. Cost is determined using standard costing, which approximates actual cost on a first-in, first-out method. Finished goods and work-in-process inventories include material, labor and manufacturing overhead costs. The Company records reserves for inventory in excess of production and/or forecasted requirements and for obsolete inventory in production and service inventories. A summary of inventories is shown below (in millions):


December 31,	2023		2022
Raw materials	$	1,260.7	$	1,216.8
Work-in-process	141.0		126.6
Finished goods	540.8		391.9
Reserves	(184.5)		(161.7)
Inventories	$	1,758.0	$	1,573.6

Engineering and Development ("E&D") and Tooling Costs

In 2023, the Company incurred E&D costs of $611.4 million, including $375.8 million (or 2% of related sales) in its Seating segment, $230.5 million (or 4% of related sales) in its E-Systems segment and $5.1 million at its headquarters location.

Pre-Production Costs Related to Long-Term Supply Agreements

The Company incurs pre-production 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 2023 and 2022, the Company capitalized $291.8 million and $249.5 million, respectively, of pre-production E&D costs for which reimbursement is contractually guaranteed by the customer. During 2023 and 2022, the Company also capitalized $162.8 million and $185.3 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 consolidated balance sheets as of December 31, 2023 and 2022. During 2023 and 2022, the Company collected $417.0 million and $435.8 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):


December 31,	2023		2022
Current	$	220.2	$	175.7
Long-term	164.3		161.3
Recoverable customer E&D and tooling	$	384.5	$	337.0

Other E&D Costs

Costs incurred in connection with product launches, to the extent not recoverable from the Company's customers, are recorded in cost of sales as incurred and totaled $138.8 million, $145.2 million and $139.5 million for the years ended December 31, 2023, 2022 and 2021, respectively.

All other E&D costs are recorded in selling, general and administrative expenses as incurred and totaled $180.8 million, $173.6 million and $170.7 million for the years ended December 31, 2023, 2022 and 2021, respectively.

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 as follows:


Buildings and improvements			10 to 40 years
Machinery and equipment			5 to 10 years

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


December 31,	2023		2022
Land	$	105.6	$	104.6
Buildings and improvements	919.4		868.6
Machinery and equipment	5,324.4		4,871.5
Construction in progress	408.7		378.0
Total property, plant and equipment	6,758.1		6,222.7
Less – accumulated depreciation	(3,780.7)		(3,368.7)
Net property, plant and equipment	$	2,977.4	$	2,854.0

For the years ended December 31, 2023, 2022 and 2021, depreciation expense was $541.9 million, $505.7 million and $500.6 million, respectively. As of December 31, 2023, 2022 and 2021, capital expenditures recorded in accounts payable totaled $133.1 million, $150.2 million and $147.8 million, respectively.

Impairment of Goodwill

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 measured and recognized.

The Company utilizes an income approach to estimate the fair value of each of its reporting units and a market valuation approach to further support this analysis. The income approach is based on projected debt-free cash flow which is discounted to the present value using discount factors that consider the timing and risk of cash flows. The Company believes that this approach is appropriate because it provides a fair value estimate based upon the reporting unit's expected long-term operating cash flow performance. This approach also mitigates the impact of cyclical trends that occur in the industry. Fair value is estimated using recent automotive industry and specific platform production volume projections, which are based on both third-party and internally developed forecasts, as well as commercial and discount rate assumptions. The discount rate used is the value-weighted average of the Company's estimated cost of equity and of debt ("cost of capital") derived using both known and estimated customary market metrics. The Company's weighted average cost of capital is adjusted by reporting unit to reflect a risk factor, if necessary. Other significant assumptions include terminal value growth rates, terminal value margin rates, future capital expenditures and changes in future working capital requirements. While there are inherent uncertainties related to the assumptions used and to management's application of these assumptions to this analysis, the Company believes that the income approach provides a reasonable estimate of the fair value of its reporting units. The market valuation approach is used to further support the Company's analysis and is based on recent transactions involving comparable companies.

The annual goodwill impairment assessment is completed as of the first day of the Company's fourth quarter. The Company performed a qualitative assessment for each reporting unit. The qualitative assessments indicated that it was more likely than not that the fair value of each reporting unit exceeded its respective carrying value.

A summary of the changes in the carrying amount of goodwill for each of the periods in the two years ended December 31, 2023, is shown below (in millions):


	Seating		E-Systems		Total
Balance as of December 31, 2021	$	1,249.3	$	408.6	$	1,657.9
Acquisition	27.9		—		27.9
Foreign currency translation and other	(16.1)		(9.1)		(25.2)
Balance as of December 31, 2022	1,261.1		399.5		1,660.6
Acquisition	73.5		—		73.5
Foreign currency translation and other	6.9		(3.1)		3.8
Balance as of December 31, 2023	$	1,341.5	$	396.4	$	1,737.9

Intangible Assets

As of December 31, 2023, intangible assets consist primarily of certain intangible assets recorded in connection with the Company's acquisitions, including substantially all of Kongsberg Automotive's Interior Comfort Systems business unit ("Kongsberg ICS") in 2022 and I.G. Bauerhin ("IGB") in 2023 (Note 4, "Acquisitions"). These intangible assets were recorded at their estimated fair value, based on independent appraisals, as of the transaction or acquisition date. The value assigned to technology intangibles is based on the royalty savings method, which applies a hypothetical royalty rate to projected revenues attributable to the identified technologies. Royalty rates were determined based primarily on analysis of market information. The customer-based intangible asset includes the acquired entity's established relationships with its customers and the ability of these customers to generate future economic profits for the Company. The value assigned to customer-based intangibles is based on the present value of future earnings attributable to the asset group after recognition of required returns to other contributory assets.

A summary of intangible assets as of December 31, 2023, is shown below (in millions):


	Gross Carrying Value		Accumulated Amortization		Net Carrying Value		Weighted Average Useful Life (years)
Amortized intangible assets:
Customer-based	$	518.2	$	(354.9)	$	163.3	12
Licensing agreements	71.0		(66.3)		4.7		5
Technology	24.6		(3.7)		20.9		12
Other	0.4		(0.2)		0.2		5
Balance as of December 31, 2023	$	614.2	$	(425.1)	$	189.1	11

A summary of intangible assets as of December 31, 2022, is shown below (in millions):


	Gross Carrying Value		Accumulated Amortization		Net Carrying Value		Weighted Average Useful Life (years)
Amortized intangible assets:
Customer-based	$	514.9	$	(313.3)	$	201.6	12
Licensing agreements	71.0		(52.0)		19.0		5
Technology	16.2		(1.7)		14.5		13
Other	0.4		(0.1)		0.3		5
Balance as of December 31, 2022	$	602.5	$	(367.1)	$	235.4	11

In 2023 and 2022, intangible assets with a gross carrying value of $1.3 million and $19.4 million, respectively, became fully amortized and are no longer included in the gross carrying value or accumulated amortization.

Excluding the impact of any future acquisitions, the Company's estimated annual amortization expense for the five succeeding years is shown below (in millions):


Year	Expense
2024	$	49.4
2025	22.4
2026	22.0
2027	21.6
2028	20.6

Impairment of Long-Lived Assets

The Company monitors its long-lived assets for impairment indicators on an ongoing basis in accordance with accounting principles generally accepted in the United States ("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. An impairment loss is measured as the difference between the net book value and the fair value of the long-lived assets. Fair value estimates of long-lived assets are based on independent appraisals or discounted cash flows, giving consideration to the highest and best use of the assets. Key assumptions used in the appraisals are based on a combination of market and cost approaches, as appropriate.

For the years ended December 31, 2023, 2022 and 2021, the Company recognized fixed asset impairment charges of $5.1 million, $9.9 million and $4.2 million, respectively, in conjunction with its restructuring actions (Note 5, "Restructuring"). For the years ended December 31, 2023, 2022 and 2021, the Company recognized additional fixed asset impairment charges of $6.3 million, $5.7 million and $7.7 million, respectively. For the year ended December 31, 2022, additional asset impairment charges include $4.4 million related to the Company's Russian operations. Asset impairment charges are recorded in cost of sales in the accompanying consolidated statements of income for the years ended December 31, 2023, 2022 and 2021.

In 2023, 2022 and 2021, the Company recognized impairment charges of $1.9 million, $8.9 million and $8.5 million, respectively, related to certain definite-lived and indefinite-lived intangible assets of its E-Systems segment resulting from a change in the intended use of such assets. The impairment charges are included in amortization of intangible assets in the accompanying consolidated statements of income for the years ended December 31, 2023, 2022 and 2021.

Impairment of Investments in Affiliates

The Company monitors its investments in affiliates for indicators of other-than-temporary declines in value on an ongoing basis in accordance with GAAP. If the Company determines that an other-than-temporary decline in value has occurred, it recognizes an impairment loss, which is measured as the difference between the recorded book value and the fair value of the investment. Fair value is generally determined using an income approach based on discounted cash flows or negotiated transaction values. For the years ended December 31, 2023 and 2021, the Company recognized impairment charges of $7.0 million and $1.0 million, respectively, related to its investments in affiliates. There were no impairment charges recognized related to the Company's investments in affiliates for the year ended December 31, 2022. The impairment charges are included in other expense, net in the accompanying consolidated statements of income for the years ended December 31, 2023 and 2021.

Accrued Liabilities

A summary of accrued liabilities as of December 31, 2023 and 2022, is shown below (in millions):


December 31,	2023		2022
Compensation and employee benefits	$	514.8	$	404.3
Income and other taxes payable	384.7		300.3
Current portion of lease obligations	151.9		136.8
Current portion of restructuring accrual	104.7		53.5
Other	1,049.1		1,066.6
Accrued liabilities	$	2,205.2	$	1,961.5

Leases

The Company determines if an arrangement contains a lease at inception. For all asset classes, the Company utilizes the short-term lease exemption as provided under GAAP. A short-term lease is a lease that, at the commencement date, has a term of twelve months or less and does not include an option to purchase the underlying asset. For all asset classes, the Company accounts for each lease component of a contract and its associated non-lease components as a single lease component, rather than allocating a standalone value to each component of a lease.

For purposes of calculating operating lease obligations under the standard, the Company's lease terms may include options to extend or terminate the lease when it is reasonably certain that the Company will exercise such option. The Company's leases do not contain material residual value guarantees or material restrictive covenants.

Operating lease expense is recognized on a straight-line basis over the lease terms.

The discount rate used to measure a lease obligation should be the rate implicit in the lease; however, the Company's operating leases generally do not provide an implicit rate. Accordingly, the Company uses its incremental borrowing rate at lease commencement to determine the present value of lease payments. The incremental borrowing rate is an entity-specific rate which represents the rate of interest a lessee would pay to borrow on a collateralized basis over a similar term with similar payments.

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 infrequent. 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 current purchase orders, annual price reductions and ongoing price adjustments. Revenue recognized related to prior years represented approximately 1% of consolidated net sales during the years ended December 31, 2023, 2022 and 2021. 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 December 31, 2023 and 2022, there were no significant contract liabilities recorded. Further, there were no significant contract liabilities recognized in revenue during the years ended December 31, 2023, 2022 and 2021.

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

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.

Cost of Sales and Selling, General and Administrative Expenses

Cost of sales includes material, labor and overhead costs associated with the manufacture and distribution of the Company's products. Distribution costs include inbound freight costs, purchasing and receiving costs, inspection costs, warehousing costs and other costs of the Company's distribution network. Selling, general and administrative expenses include selling, engineering and development and administrative costs not directly associated with the manufacture and distribution of the Company's products.

Restructuring Costs

Restructuring costs include employee termination benefits, asset impairment charges and contract termination costs, as well as other incremental net 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 net costs principally include equipment and personnel relocation costs and gains and losses on the sales of facilities. In addition

to restructuring costs, the Company also 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 consolidated financial statements in accordance with GAAP. Generally, charges are recorded as restructuring actions are approved, communicated and/or implemented.

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):


For the year ended December 31,	2023		2022		2021
Other expense	$	83.7	$	57.2	$	65.4
Other income	(28.8)		(10.8)		(65.3)
Other expense, net	$	54.9	$	46.4	$	0.1

Income Taxes

Deferred tax assets and liabilities are recognized for the future tax consequences attributable to temporary differences between financial statement carrying amounts of existing assets and liabilities and their respective tax bases and tax loss and credit carryforwards. Deferred tax assets and liabilities are measured using enacted tax rates expected to apply to taxable income for the years in which those temporary differences are expected to be recovered or settled.

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.

The Company reclassifies taxes from accumulated other comprehensive loss to earnings as the items to which the tax effects relate are similarly reclassified.

The calculation of the Company's gross unrecognized tax benefits and liabilities includes uncertainties in the application of, and changes in, complex tax regulations in a multitude of jurisdictions across its global operations. The Company recognizes tax benefits and liabilities based on its estimates of whether, and the extent to which, additional taxes will be due. The Company adjusts these benefits and liabilities based on changing facts and circumstances; however, due to the complexity of these uncertainties and the impact of tax audits, the ultimate resolutions may differ significantly from the Company's estimates.

Foreign Currency

Assets and liabilities of foreign subsidiaries that use a functional currency other than the U.S. dollar are translated into U.S. dollars at the foreign exchange rates in effect at the end of the period. Revenues and expenses of foreign subsidiaries are translated into U.S. dollars using an average of the foreign exchange rates in effect during the period. Translation adjustments that arise from translating a foreign subsidiary's financial statements from the functional currency to the U.S. dollar are reflected in accumulated other comprehensive loss in the consolidated balance sheets.

Transaction gains and losses that arise from foreign exchange rate fluctuations on transactions denominated in a currency other than the functional currency, except certain long-term intercompany transactions, are included in the consolidated statements of income as incurred.

For the years ended December 31, 2023, 2022 and 2021, other expense, net includes net foreign currency transaction losses of $53.0 million, $30.4 million and $24.8 million, respectively. For the year ended December 31, 2023, net foreign currency transaction losses include $30.6 million related to the hyper-inflationary environment and significant currency devaluation in Argentina. For the year ended December 31, 2022, net foreign currency transaction losses include $9.6 million related to foreign exchange rate volatility following Russia's invasion of Ukraine.

Stock-Based Compensation

The Company measures stock-based employee compensation expense at fair value in accordance with GAAP and recognizes such expense over the vesting period of the stock-based employee awards.

Net Income Per Share Attributable to Lear

Basic net income per share attributable to Lear is computed by dividing net income attributable to Lear 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 per share attributable to Lear.

Diluted net income per share attributable to Lear is computed using the treasury stock method by dividing net income attributable to Lear by the average number of common shares outstanding, including the dilutive effect of common stock equivalents using the average share price during the period.

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


For the year ended December 31,	2023		2022		2021
Net income attributable to Lear	$	572.5	$	327.7	$	373.9

Average common shares outstanding	58,830,334		59,674,488		60,082,833
Dilutive effect of common stock equivalents	286,041		246,041		337,651
Average diluted shares outstanding	59,116,375		59,920,529		60,420,484

Basic net income per share attributable to Lear	$	9.73	$	5.49	$	6.22

Diluted net income per share attributable to Lear	$	9.68	$	5.47	$	6.19

Product Warranty

Losses from warranty obligations are accrued when it is probable that a liability has been incurred and the related amounts are reasonably estimable.

Segment Reporting

The Company is organized under two reportable operating segments: Seating, which consists of the design, development, engineering and manufacture of complete seat systems and key seat components, and E-Systems, which consists of the design, development, engineering and manufacture of complete electrical distribution and connection systems; high-voltage power distribution products, including battery disconnect units ("BDUs"); and low-voltage power distribution products, electronic controllers and other electronic products. Included in the Company's complete seat systems and components are thermal comfort systems and configurable seating product technologies. All of these products are compatible with traditional internal combustion engine ("ICE") architectures and electrified powertrains, including the full range of hybrid, plug-in hybrid and battery electric architectures. Key seat component product offerings include seat trim covers; surface materials such as leather and fabric; seat mechanisms; seat foam; thermal comfort systems such as seat heating, ventilation, active cooling, pneumatic lumbar and massage products; and headrests. Key components of the Company's electrical distribution and connection systems portfolio include wire harnesses, terminals and connectors, high-voltage battery connection systems and engineered components. High-voltage battery connection systems include intercell connect boards, bus bars and main battery connection

systems. High-voltage power distribution products control the flow and distribution of high-voltage power throughout electrified vehicles and include BDUs which control all electrical energy flowing into and out of high-voltage batteries in electrified vehicles. Low-voltage power distribution products, electronic controllers and other electronic products facilitate signal, data and/or power management within the vehicle and include the associated software required to facilitate these functions. Key components of the Company's other electronic products portfolio include zone control modules, body domain control modules and low-voltage and high-voltage power distribution modules. The Company's software offerings include embedded control, cybersecurity software and software to control hardware devices. The Company's customers traditionally have sourced its electronic hardware together with the software that the Company embeds in it. 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.

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 before equity in net income of affiliates, interest expense, net and other expense, net ("segment earnings") and (iii) cash flows, being defined as segment earnings less capital expenditures plus depreciation and amortization.

The accounting policies of the Company's operating segments are the same as those described in this note to the consolidated financial statements.

Derivative Instruments and Hedge 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 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 hedge 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 hedge instrument.

For a fair value hedge, the change in the fair value of the derivative is recorded in earnings and reflected in the consolidated statements of income 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 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 consolidated statements of income 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 consolidated balance sheets. When the related currency translation adjustment is required to be reclassified, usually upon the sale or liquidation of the investment, the gain or loss included in accumulated other comprehensive loss is recorded in earnings and reflected in other expense, net in the consolidated statements of income. Changes in the fair value of contracts not designated as hedge instruments are recorded in earnings and reflected in other expense, net in the consolidated statements of income. 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 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 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 sheets. 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.

Use of Estimates

The preparation of the consolidated financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities as of the date of the consolidated financial statements and the reported amounts of revenues and expenses during the reporting period. During 2023, there were no material changes in the methods or policies used to establish estimates and assumptions. Other matters subject to estimation and judgment include amounts related to accounts receivable realization, inventory obsolescence, asset impairments, useful lives of fixed and intangible assets and unsettled pricing negotiations with customers and suppliers (Note 3, "Summary of Significant Accounting Policies"), acquisitions (Note 4, "Acquisitions"), restructuring accruals (Note 5, "Restructuring"), deferred tax asset valuation allowances and income taxes (Note 9, "Income Taxes"), pension and other postretirement benefit plan assumptions (Note 10, "Pension and Other Postretirement Benefit Plans") and accruals related to legal, warranty and environmental matters (Note 14, "Legal and Other Contingencies"). Actual results may differ significantly from the Company's estimates.

Pension and Other Postretirement Benefit Plans - Weighted Average Actuarial Assumptions Used (Details)	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Foreign plans
Weighted average actuarial assumptions used in determining the net periodic benefit cost (credit)
Rate of compensation increase	2.50%	3.50%	3.30%
Pension \| Domestic plans
Weighted average actuarial assumptions used in determining the benefit obligations
Discount rate	5.20%	5.50%
Weighted average actuarial assumptions used in determining the net periodic benefit cost (credit)
Discount rate	5.50%	3.00%	2.60%
Expected return on plan assets	6.00%	5.50%	5.80%
Pension \| Foreign plans
Weighted average actuarial assumptions used in determining the benefit obligations
Discount rate	4.40%	5.00%
Rate of compensation increase	2.60%	2.50%
Weighted average actuarial assumptions used in determining the net periodic benefit cost (credit)
Discount rate	5.00%	2.50%	2.00%
Expected return on plan assets	5.40%	4.60%	5.20%
Other Postretirement \| Domestic plans
Weighted average actuarial assumptions used in determining the benefit obligations
Discount rate	5.10%	5.50%
Weighted average actuarial assumptions used in determining the net periodic benefit cost (credit)
Discount rate	5.50%	2.80%	2.40%
Other Postretirement \| Foreign plans
Weighted average actuarial assumptions used in determining the benefit obligations
Discount rate	4.60%	5.30%
Weighted average actuarial assumptions used in determining the net periodic benefit cost (credit)
Discount rate	5.30%	3.10%	2.50%

Investments in Affiliates and Other Related Party Transactions

12 Months Ended

Dec. 31, 2023

Equity Method Investments and Joint Ventures [Abstract]

Investments in Affiliates and Other Related Party Transactions

The Company's beneficial ownership in affiliates accounted for under the equity method is shown below:


December 31,	2023	2022	2021
Beijing BHAP Lear Automotive Systems Co., Ltd. (China)	50%	50%	50%
Guangzhou Lear Automotive Components Co., Ltd. (China)	50	50	50
Jiangxi Jiangling Lear Interior Systems Co., Ltd. (China)	50	50	50
Lear Dongfeng Automotive Seating Co., Ltd. (China)	50	50	50
Beijing Lear Hyundai Transys Co., Ltd. (China)	50	50	40
Changchun Lear FAWSN Automotive Seat Systems Co., Ltd. (China)	49	49	49
Honduras Electrical Distribution Systems S. de R.L. de C.V. (Honduras)	49	49	49
Kyungshin-Lear Sales and Engineering LLC	49	49	49
Shenyang Jinbei Lear Automotive Seating Co. Ltd. (China)	49	49	49
Shenzhen Shinry Lear Electric Control Technology Co., Ltd. (China)	49	49	—
Hyundai Transys Lear Automotive Private Limited (India)	35	35	35
Techstars Corporate Partner 2017 LLC	34	34	34
RevoLaze, LLC	20	20	20
Maniv Mobility II A, L.P.	7	7	7
Trucks Venture Fund 2, L.P.	7	7	5
Autotech Fund II, L.P.	3	3	4

Summarized group financial information for affiliates accounted for under the equity method as of December 31, 2023 and 2022, and for the years ended December 31, 2023, 2022 and 2021, is shown below (unaudited; in millions):


December 31,	2023		2022
Balance sheet data:
Current assets	$	1,545.7	$	1,335.9
Non-current assets	240.2		235.0
Current liabilities	1,165.6		1,009.2
Non-current liabilities	20.2		8.4


For the year ended December 31,	2023		2022		2021
Income statement data:
Net sales	$	2,676.9	$	2,447.6	$	1,833.6
Gross profit	149.7		106.1		50.1
Income before provision for income taxes	116.7		102.8		104.5
Net income attributable to affiliates	82.2		64.4		80.5

A summary of amounts recorded in the Company's consolidated balance sheets related to its affiliates is shown below (in millions):


December 31,	2023		2022
Aggregate investment in affiliates	$	217.1	$	196.7
Receivables due from affiliates (including notes and advances)	170.7		182.5
Payables due to affiliates	0.5		0.7

A summary of transactions with affiliates accounted for under the equity method and other related parties is shown below (in millions):


For the year ended December 31,	2023		2022		2021
Sales to affiliates	$	654.6	$	783.0	$	676.6
Purchases from affiliates	2.1		9.0		4.4
Management and other fees for services provided to affiliates	32.7		32.6		38.5
Dividends received from affiliates	21.7		21.1		26.8

The Company has certain investments with beneficial ownership interests of less than 20% that are accounted for under the equity method as the Company's beneficial ownership interests in these entities are similar to partnership interests.

2021

In 2021, the Company acquired a 49% interest in Shenyang Jinbei Lear Automotive Seating Co. Ltd. ("Shenyang Jinbei") for $41.3 million. The investment is accounted for under the equity method as the Company does not control Shenyang Jinbei but does have the ability to exercise significant influence over certain operating and financial policies of Shenyang Jinbei. The acquisition cost is classified within cash flows used in investing activities in the accompanying consolidated statement of cash flows for the year ended December 31, 2021.

For further information related to acquired assets measured at fair value, see Note 16, "Financial Instruments."

Pension and Other Postretirement Benefit Plans - Components of Net Periodic Benefit Costs (Credit) (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Pension \| U.S.
Defined Benefit Plans and Other Postretirement Benefit Plans
Service cost	$ 0.0	$ 0.0	$ 0.0
Interest cost	20.7	15.5	14.5
Expected return on plan assets	(20.3)	(23.9)	(23.5)
Amortization of actuarial gains	1.0	2.0	3.9
Settlement (gains) losses	(0.1)	0.4	0.4
Net periodic benefit cost (credit)	1.3	(6.0)	(4.7)
Pension \| Foreign
Defined Benefit Plans and Other Postretirement Benefit Plans
Service cost	3.4	4.2	5.3
Interest cost	16.7	11.2	10.5
Expected return on plan assets	(16.2)	(17.2)	(19.6)
Amortization of actuarial gains	1.9	4.1	6.1
Settlement (gains) losses	(0.4)	(0.2)	0.0
Net periodic benefit cost (credit)	5.4	2.1	2.3
Other Postretirement \| U.S.
Defined Benefit Plans and Other Postretirement Benefit Plans
Service cost	0.0	0.0
Interest cost	1.5	1.5	1.4
Amortization of actuarial gains	(3.3)	(1.2)	(1.1)
Amortization of prior service credit	(0.1)	(0.1)	(0.1)
Net periodic benefit cost (credit)	(1.9)	0.2	0.2
Other Postretirement \| Foreign
Defined Benefit Plans and Other Postretirement Benefit Plans
Service cost	0.0	0.0
Interest cost	0.9	0.7	0.7
Amortization of actuarial gains	(0.2)	0.0	0.0
Amortization of prior service credit	0.0	0.0	0.0
Net periodic benefit cost (credit)	$ 0.7	$ 0.7	$ 0.7

Revenue Recognition (Tables)

12 Months Ended

Dec. 31, 2023

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):


For the year ended December 31,	2023
	Seating		E-Systems		Total
North America	$	7,797.9	$	1,705.5	$	9,503.4
Europe and Africa	6,167.9		2,444.7		8,612.6
Asia	2,947.5		1,497.5		4,445.0
South America	635.5		270.4		905.9
	$	17,548.8	$	5,918.1	$	23,466.9


For the year ended December 31,	2022
	Seating		E-Systems		Total
North America	$	7,416.3	$	1,494.4	$	8,910.7
Europe and Africa	4,944.0		2,002.0		6,946.0
Asia	2,731.9		1,451.3		4,183.2
South America	619.0		232.6		851.6
	$	15,711.2	$	5,180.3	$	20,891.5


For the year ended December 31,	2021
	Seating		E-Systems		Total
North America	$	6,277.2	$	1,271.0	$	7,548.2
Europe and Africa	4,805.5		1,939.8		6,745.3
Asia	2,759.9		1,468.0		4,227.9
South America	568.8		172.9		741.7
	$	14,411.4	$	4,851.7	$	19,263.1

Pension and Other Postretirement Benefit Plans - Information Related to Multi-Employer Pension Plans (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
51-6099782-001
Multiemployer Plans
Contributions to multiemployer pension plan	$ 0.8	$ 0.8	$ 0.7
13-6130178-001
Multiemployer Plans
Contributions to multiemployer pension plan	$ 0.4	$ 0.4	$ 0.4

- Definition

Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.

+ References

Reference 1: http://www.xbrl.org/2003/role/exampleRef
-Topic 715
-SubTopic 80
-Name Accounting Standards Codification
-Section 55
-Paragraph 8
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480547/715-80-55-8

Reference 2: http://www.xbrl.org/2003/role/exampleRef
-Topic 715
-SubTopic 80
-Name Accounting Standards Codification
-Section 50
-Paragraph 6
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480576/715-80-50-6

Reference 3: http://www.xbrl.org/2003/role/exampleRef
-Topic 715
-SubTopic 80
-Name Accounting Standards Codification
-Section 50
-Paragraph 6
-Subparagraph (c)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480576/715-80-50-6

Reference 4: http://www.xbrl.org/2003/role/exampleRef
-Topic 715
-SubTopic 80
-Name Accounting Standards Codification
-Section 50
-Paragraph 11
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480576/715-80-50-11

Reference 5: http://www.xbrl.org/2003/role/exampleRef
-Topic 715
-SubTopic 80
-Name Accounting Standards Codification
-Section 50
-Paragraph 11
-Subparagraph (c)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480576/715-80-50-11

Reference 6: http://www.xbrl.org/2003/role/exampleRef
-Topic 715
-SubTopic 80
-Name Accounting Standards Codification
-Section 50
-Paragraph 11
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480576/715-80-50-11

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Topic 715
-SubTopic 80
-Name Accounting Standards Codification
-Section 35
-Paragraph 1
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480606/715-80-35-1

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Topic 715
-SubTopic 80
-Name Accounting Standards Codification
-Section 50
-Paragraph 11
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480576/715-80-50-11

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Topic 715
-SubTopic 80
-Name Accounting Standards Codification
-Section 50
-Paragraph 5
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480576/715-80-50-5

Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Topic 715
-SubTopic 80
-Name Accounting Standards Codification
-Section 50
-Paragraph 5
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480576/715-80-50-5

Reference 11: http://www.xbrl.org/2003/role/disclosureRef
-Topic 715
-SubTopic 80
-Name Accounting Standards Codification
-Section 50
-Paragraph 5
-Subparagraph (c)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480576/715-80-50-5

Reference 12: http://www.xbrl.org/2003/role/disclosureRef
-Topic 715
-SubTopic 80
-Name Accounting Standards Codification
-Section 50
-Paragraph 5
-Subparagraph (d)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480576/715-80-50-5

Reference 13: http://www.xbrl.org/2003/role/disclosureRef
-Topic 715
-SubTopic 80
-Name Accounting Standards Codification
-Section 50
-Paragraph 5
-Subparagraph (e)(1)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480576/715-80-50-5

Reference 14: http://www.xbrl.org/2003/role/disclosureRef
-Topic 715
-SubTopic 80
-Name Accounting Standards Codification
-Section 50
-Paragraph 5
-Subparagraph (e)(2)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480576/715-80-50-5

Reference 15: http://www.xbrl.org/2003/role/disclosureRef
-Topic 715
-SubTopic 80
-Name Accounting Standards Codification
-Section 50
-Paragraph 5
-Subparagraph (f)(1)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480576/715-80-50-5

Reference 16: http://www.xbrl.org/2003/role/disclosureRef
-Topic 715
-SubTopic 80
-Name Accounting Standards Codification
-Section 50
-Paragraph 5
-Subparagraph (f)(2)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480576/715-80-50-5

Reference 17: http://www.xbrl.org/2003/role/disclosureRef
-Topic 715
-SubTopic 80
-Name Accounting Standards Codification
-Section 50
-Paragraph 5
-Subparagraph (f)(3)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480576/715-80-50-5

Reference 18: http://www.xbrl.org/2003/role/disclosureRef
-Topic 715
-SubTopic 80
-Name Accounting Standards Codification
-Section 50
-Paragraph 9
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480576/715-80-50-9

Reference 19: http://www.xbrl.org/2003/role/exampleRef
-Topic 715
-SubTopic 80
-Name Accounting Standards Codification
-Section 50
-Paragraph 6
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480576/715-80-50-6

+ Details

Income Taxes - Classification of Net Deferred Income Tax Assets (Details) - USD ($) $ in Millions	Dec. 31, 2023	Dec. 31, 2022
Income Tax Disclosure [Abstract]
Long-term deferred income tax assets	$ 798.2	$ 709.2
Long-term deferred income tax liabilities	(103.9)	(88.7)
Net deferred income tax asset	$ 694.3	$ 620.5

Restructuring (Tables)

12 Months Ended

Dec. 31, 2023

Restructuring and Related Activities [Abstract]

Summary of Restructuring Activity

Charges recorded in connection with the Company's restructuring actions are shown below (in millions):


For the year ended December 31,	2023		2022		2021
Employee termination benefits	$	119.2	$	121.9	$	85.1
Asset impairments
Property, plant and equipment	5.1		9.9		4.2
Right-of-use assets	10.9		6.5		7.2
Contract termination costs	5.7		4.5		0.3
Other related net costs	(8.2)		11.4		4.1
	$	132.7	$	154.2	$	100.9

Restructuring charges by income statement account are shown below (in millions):


For the year ended December 31,	2023		2022		2021
Cost of sales	$	130.2	$	129.7	$	75.6
Selling, general and administrative expenses	20.7		24.5		32.0
Other (income) expense, net	(18.2)		—		(6.7)
	$	132.7	$	154.2	$	100.9

Restructuring charges by operating segment are shown below (in millions):


For the year ended December 31,	2023		2022		2021
Seating	$	99.5	$	65.3	$	45.7
E-Systems	30.5		82.8		47.7
Other	2.7		6.1		7.5
	$	132.7	$	154.2	$	100.9

A summary of the changes in the Company's restructuring reserves is shown below (in millions):


	2023		2022
Balance as of January 1,	$	82.9	$	129.4
Provision for employee termination benefits	119.2		121.9
Payments, utilizations and foreign currency	(80.5)		(168.4)
Balance as of December 31,	$	121.6	$	82.9

Income Taxes

12 Months Ended

Dec. 31, 2023

Income Tax Disclosure [Abstract]

Income Taxes

A summary of consolidated income before provision for income taxes and equity in net income of affiliates and the components of provision for income taxes is shown below (in millions):


For the year ended December 31,	2023		2022		2021
Consolidated income before provision for income taxes and equity in net income of affiliates:
Domestic	$	59.9	$	87.6	$	(110.9)
Foreign	717.3		421.7		694.4
	$	777.2	$	509.3	$	583.5
Domestic (benefit) provision for income taxes:
Current provision	$	43.0	$	35.3	$	38.4
Deferred benefit	(29.4)		(41.4)		(76.6)
Total domestic (benefit) provision	$	13.6	$	(6.1)	$	(38.2)
Foreign provision for income taxes:
Current provision	$	196.6	$	147.8	$	154.8
Deferred (benefit) provision	(29.4)		(8.0)		21.1
Total foreign provision	$	167.2	$	139.8	$	175.9
Provision for income taxes	$	180.8	$	133.7	$	137.7

The domestic current provision includes withholding taxes related to dividends and royalties paid by the Company's foreign subsidiaries, as well as state and local taxes. In 2023, 2022 and 2021, the provision for income taxes includes the benefit of prior unrecognized net operating loss carryforwards of $8.0 million, $0.8 million and $2.9 million, respectively.

A summary of the differences between the provision for income taxes calculated at the United States federal statutory income tax rate of 21% and the consolidated provision for income taxes is shown below (in millions):


For the year ended December 31,	2023		2022		2021
Consolidated income before provision for income taxes and equity in net income of affiliates multiplied by the United States federal statutory income tax rate	$	163.2	$	107.0	$	122.5
Differences in income taxes on foreign earnings, losses and remittances	43.2		24.5		30.4
Valuation allowance adjustments (1)	(3.3)		45.2		29.0
Research and development and other tax credits	(15.9)		(15.0)		(19.0)
FDII deduction	(20.1)		(16.9)		(6.0)
U.S. tax impact of foreign earnings (2)	3.4		(6.3)		(9.8)
Tax audits and assessments	1.5		3.2		3.2
Other	8.8		(8.0)		(12.6)
Provision for income taxes	$	180.8	$	133.7	$	137.7

(1) Relates primarily to changes in valuation allowances on the deferred tax assets of foreign subsidiaries in 2022 and 2021.

(2) Reflects the impact on the domestic provision for income taxes related to foreign source income, including foreign branch earnings net of the applicable foreign tax credits in the general, foreign branch, GILTI and passive separate limitation categories. This amount includes the U.S. tax impact of apportioning U.S. expenses against the GILTI basket in calculating the foreign tax credit limitation resulting in no tax benefit for these expenses due to the Company's excess foreign tax credit position in the GILTI basket for 2023 and 2021.

For the years ended December 31, 2023, 2022 and 2021, income in foreign jurisdictions with tax holidays was $48.4 million, $40.5 million and $55.6 million, respectively. Such tax holidays generally expire from 2023 through 2036.

Deferred income taxes represent temporary differences in the recognition of certain items for financial reporting and income tax purposes. A summary of the components of the net deferred income tax asset is shown below (in millions):


December 31,	2023		2022
Deferred income tax assets (liabilities):
Tax loss carryforwards	$	394.3	$	397.4
Tax credit carryforwards	240.4		243.9
Retirement benefit plans	24.6		22.6
Accrued liabilities	269.8		208.7
Self-insurance reserves	5.4		5.5
Current asset basis differences	50.3		42.0
Long-term asset basis differences (1)	16.4		3.5
Deferred compensation	35.4		25.8
Capitalized engineering, research and development	201.0		169.6
Undistributed earnings of foreign subsidiaries	(83.9)		(71.7)
Derivative instruments and hedging activities	(31.6)		(10.7)
Other	1.2		1.8
Net deferred income tax asset before valuation allowance	1,123.3		1,038.4
Valuation allowance	(429.0)		(417.9)
Net deferred income tax asset	$	694.3	$	620.5

(1) Included in the long-term asset basis differences for the years ended December 31, 2023 and 2022, are deferred tax assets of $157.3 million and $145.5 million, respectively, related to lease obligations and deferred tax liabilities of $157.3 million and $145.5 million, respectively, related to right-of-use assets.

As of December 31, 2023 and 2022, the valuation allowance with respect to the Company's deferred tax assets was $429.0 million and $417.9 million, respectively, a net increase of $11.1 million.

Concluding that a valuation allowance is not required is difficult when there is significant negative evidence, such as cumulative losses in recent years, which is objective and verifiable. When measuring cumulative losses in recent years, the Company uses a rolling three-year period of pretax book income, adjusted for permanent differences between book and taxable income and certain other items. As of December 31, 2023, the Company continues to maintain a U.S. valuation allowance of $30.6 million, primarily related to U.S. state and local deferred tax assets that, due to their nature, are not likely to be realized. In addition, the Company continues to maintain a valuation allowance of $398.4 million with respect to its deferred tax assets in several international jurisdictions.

The classification of the net deferred income tax asset is shown below (in millions):


December 31,	2023		2022
Long-term deferred income tax assets	$	798.2	$	709.2
Long-term deferred income tax liabilities	(103.9)		(88.7)
Net deferred income tax asset	$	694.3	$	620.5

As of December 31, 2023, deferred income taxes have not been provided on the undistributed earnings of the Company's foreign subsidiaries since these earnings will not be taxable upon repatriation to the United States. These earnings will be primarily treated as previously taxed income from either the one-time transition tax or GILTI, or they will be offset with a 100% dividend received deduction. However, the Company continues to provide a deferred tax liability for foreign withholding tax that will be incurred with respect to the undistributed foreign earnings that are not permanently reinvested.

As of December 31, 2023, the Company had tax loss carryforwards of $1.7 billion. Of the total tax loss carryforwards, $1.4 billion have no expiration date, and $252.8 million expire between 2024 and 2040. In addition, the Company had tax credit carryforwards of $240.4 million, comprised principally of U.S. foreign tax credits of $69.4 million that expire between 2027 and 2031, U.S. research and development credits of $128.1 million that expire between 2025 and 2043 and other tax credits primarily in international jurisdictions of $42.9 million that generally expire between 2024 and 2043.

As of December 31, 2023, 2022 and 2021, the Company's gross unrecognized tax benefits were $33.1 million, $32.7 million and $34.9 million (excluding interest and penalties), respectively, which are recorded in other long-term liabilities in the

accompanying consolidated balance sheets. All of the Company’s gross unrecognized tax benefits, if recognized, would affect the Company’s effective tax rate.

A summary of the changes in gross unrecognized tax benefits is shown below (in millions):


For the year ended December 31,	2023		2022		2021
Balance at beginning of period	$	32.7	$	34.9	$	36.4
Additions based on tax positions related to current year	5.1		4.8		7.7
Reductions based on tax positions related to prior years	—		—		(4.0)
Settlements	—		(1.9)		(0.3)
Statute expirations	(5.1)		(6.3)		(5.2)
Foreign currency translation	0.4		1.2		0.3
Balance at end of period	$	33.1	$	32.7	$	34.9

The Company recognizes interest and penalties with respect to unrecognized tax benefits as income tax expense. As of December 31, 2023, 2022 and 2021, the Company had recorded gross reserves of $11.6 million, $12.3 million and $12.7 million, respectively, related to interest and penalties, all of which, if recognized, would affect the Company's effective tax rate.

The Company operates in multiple jurisdictions throughout the world, and its tax returns are periodically audited or subject to review by both domestic and foreign tax authorities. During the next twelve months, it is reasonably possible that, as a result of audit settlements, the conclusion of current examinations and the expiration of the statute of limitations in multiple jurisdictions, the Company may decrease the amount of its gross unrecognized tax benefits by $5.0 million, all of which, if recognized, would affect the Company's effective tax rate. The gross unrecognized tax benefits subject to potential decrease involve issues related to transfer pricing and various other tax items in multiple jurisdictions. However, as a result of ongoing examinations, tax proceedings in certain countries, additions to the gross unrecognized tax benefits for positions taken and interest and penalties, if any, arising in 2024, it is not possible to estimate the potential net increase or decrease to the Company's gross unrecognized tax benefits during the next twelve months.

The Company considers its significant tax jurisdictions to include China, Germany, Italy, Mexico, Morocco, Spain, the United Kingdom and the United States. The Company or its subsidiaries generally remain subject to income tax examination in certain U.S. state and local jurisdictions for years after 2018. Further, the Company or its subsidiaries remain subject to income tax examination in Spain for years after 2007, in Mexico for years after 2016, in Italy and Morocco for years after 2017, in Germany for years after 2018, in China and the United Kingdom for years after 2019 and in the United States generally for years after 2021.

On August 16, 2022, the Inflation Reduction Act of 2022 ("IRA") was signed into law. The IRA contains a number of revisions to the Internal Revenue Code, including a 15% corporate minimum tax and a 1% excise tax on share repurchases, which are effective for tax years beginning after December 31, 2022. The tax-related provisions of the IRA did not have a material impact on the Company's consolidated financial statements. For the year ended December 31, 2023, the Company incurred $2.9 million of excise taxes on its share repurchases, which is included in repurchases of shares of common stock in the accompanying consolidated statement of equity.

In 2021, the Brazilian Supreme Court ruled on certain matters, including the method of determining the amount of indirect tax credits that taxpayers are entitled to monetize in future periods. As a result of the ruling, other expense, net includes a gain of $45.0 million for the year ended December 31, 2021, for which $8.0 million of tax expense was recognized.

- 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

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 13
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480990/946-20-50-13

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Topic 235
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.4-08(h)(2))
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480678/235-10-S99-1

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
-Name Accounting Standards Codification
-Publisher FASB
-URI https://asc.fasb.org//740/tableOfContent

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 14
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482685/740-10-50-14

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 21
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482685/740-10-50-21

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
-SubTopic 270
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482526/740-270-50-1

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 17
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482685/740-10-50-17

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SAB TOPIC 6.I.5.Q1)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147479360/740-10-S99-1

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 2
-Subparagraph (SAB Topic 11.C)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147479360/740-10-S99-2

Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
-SubTopic 30
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482603/740-30-50-2

+ Details

Consolidated Statements of Cash Flows - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Cash Flows from Operating Activities:
Consolidated net income	$ 645.7	$ 408.7	$ 461.6
Adjustments to reconcile consolidated net income to net cash provided by operating activities –
Equity in net income of affiliates	(49.3)	(33.1)	(15.8)
Impairment charges	29.3	29.1	20.1
Deferred tax benefit	(58.8)	(49.4)	(55.5)
Depreciation and amortization	604.4	576.5	573.9
Stock-based compensation	67.5	52.0	60.3
Net change in recoverable customer engineering, development and tooling	(42.3)	(1.2)	(29.1)
Net change in working capital items (see below)	44.8	(17.8)	(351.0)
Changes in other long-term assets	6.5	9.6	(35.7)
Changes in other long-term liabilities	17.2	8.2	(6.5)
Loss on extinguishment of debt	0.0	0.0	24.6
Other, net	(15.7)	38.8	23.2
Net cash provided by operating activities	1,249.3	1,021.4	670.1
Cash Flows from Investing Activities:
Additions to property, plant and equipment	(626.5)	(638.2)	(585.1)
Acquisitions, net of cash acquired	(174.5)	(188.3)	0.0
Other, net	39.5	(3.8)	(61.6)
Net cash used in investing activities	(761.5)	(830.3)	(646.7)
Cash Flows from Financing Activities:
Short-term borrowings, net	17.7	8.0	0.0
Term loan borrowings	150.0	0.0	0.0
Repurchases of common stock	(296.5)	(100.3)	(100.3)
Dividends paid to Lear Corporation stockholders	(181.9)	(185.5)	(106.7)
Dividends paid to noncontrolling interests	(78.7)	(84.6)	(81.1)
Term loan facility repayments	0.0	0.0	(220.3)
Proceeds from the issuance of senior notes	0.0	0.0	698.7
Redemption of senior notes	0.0	0.0	(221.5)
Payment of debt issuance and other financing costs	(1.2)	0.0	(9.9)
Other, net	(28.9)	(24.9)	27.5
Net cash used in financing activities	(419.5)	(387.3)	(13.6)
Effect of foreign currency translation	12.8	(7.7)	(3.0)
Net Change in Cash, Cash Equivalents and Restricted Cash	81.1	(203.9)	6.8
Cash, Cash Equivalents and Restricted Cash as of Beginning of Period	1,117.4	1,321.3	1,314.5
Cash, Cash Equivalents and Restricted Cash as of End of Period	1,198.5	1,117.4	1,321.3
Changes in Working Capital Items:
Accounts receivable	(148.3)	(518.8)	160.9
Inventories	(117.9)	(29.8)	(213.4)
Accounts payable (including $15.4 million of cash paid in 2023 in conjunction with the acquisition of IGB to settle pre-existing accounts payable)	162.4	368.6	(129.6)
Accrued liabilities and other	148.6	162.2	(168.9)
Net change in working capital items	44.8	(17.8)	(351.0)
Supplementary Disclosure:
Cash paid for interest	112.2	96.5	91.6
Cash paid for income taxes, net of refunds received of $15.7 million in 2023, $17.1 million in 2022 and $40.7 million in 2021	$ 217.6	$ 194.6	$ 148.3

Debt - Short-Term Borrowings (Details) - USD ($)	Dec. 31, 2023	Dec. 31, 2022
Short-term Debt
Short-term borrowings	$ 27,500,000	$ 9,900,000
Line of Credit
Short-term Debt
Line of credit facility, maximum borrowing capacity	$ 337,700,000	$ 298,200,000

Stock-Based Compensation - Summary of Restricted Stock Unit and Performance Share Transaction (Details) - $ / shares	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Stock Options
Outstanding at the beginning period (in shares)	202,702	202,702
Granted (in shares)	0
Outstanding at the ending period (in shares)	202,702	202,702
Vested or expected to vest at the ending period (in shares)	0
Weighted Average Grant Date Fair Value
Outstanding at the beginning period (in shares)	$ 32.65
Granted (in dollars per share)			$ 35.33
Outstanding at the ending period (in shares)	$ 32.65	$ 32.65
Restricted Stock Units
Units/Shares Activity
Outstanding at the beginning period (in shares)	494,461
Granted (in shares)	240,389
Distributed (vested) (in shares)	(159,830)
Cancelled (in shares)	(5,696)
Outstanding at the end of period (in shares)	569,324	494,461
Vested or expected to vest (in shares)	569,324
Weighted Average Grant Date Fair Value
Outstanding as of beginning of period (in dollars per share)	$ 145.64
Granted (in dollars per share)	130.38	$ 164.57	165.28
Outstanding as of end of period (in dollars per share)	$ 138.21	$ 145.64
Performance Shares
Units/Shares Activity
Outstanding at the beginning period (in shares)	726,485
Granted (in shares)	430,899
Distributed (vested) (in shares)	(132,302)
Cancelled (in shares)	(110,171)
Outstanding at the end of period (in shares)	914,911	726,485
Vested or expected to vest (in shares)	611,161
Weighted Average Grant Date Fair Value
Outstanding as of beginning of period (in dollars per share)	$ 201.83
Granted (in dollars per share)	138.54	$ 196.83	$ 188.11
Outstanding as of end of period (in dollars per share)	$ 161.36	$ 201.83

Investments in Affiliates and Other Related Party Transactions - Summarized Balance Sheet Data for Affiliates Accounted for under Equity Method (Details) - USD ($) $ in Millions	Dec. 31, 2023	Dec. 31, 2022
Schedule of Equity Method Investments
Current assets	$ 7,636.9	$ 6,994.1
Non-current assets	7,058.6	6,768.9
Current liabilities	5,667.2	5,188.3
Non-current liabilities	3,967.7	3,744.4
Group of Equity Method Investments
Schedule of Equity Method Investments
Current assets	1,545.7	1,335.9
Non-current assets	240.2	235.0
Current liabilities	1,165.6	1,009.2
Non-current liabilities	$ 20.2	$ 8.4

- Definition

Sum of the carrying amounts as of the balance sheet date of all assets that are expected to be realized in cash, sold, or consumed within one year (or the normal operating cycle, if longer). Assets are probable future economic benefits obtained or controlled by an entity as a result of past transactions or events.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 810
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 3
-Subparagraph (bb)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481203/810-10-50-3

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Topic 810
-SubTopic 10
-Name Accounting Standards Codification
-Section 45
-Paragraph 25
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481231/810-10-45-25

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Topic 235
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.4-08(g)(1)(ii))
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480678/235-10-S99-1

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Topic 323
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 3
-Subparagraph (c)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481687/323-10-50-3

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Topic 825
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 28
-Subparagraph (f)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482907/825-10-50-28

Reference 6: http://www.xbrl.org/2003/role/exampleRef
-Topic 852
-SubTopic 10
-Name Accounting Standards Codification
-Section 55
-Paragraph 10
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481372/852-10-55-10

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Topic 210
-SubTopic 10
-Name Accounting Standards Codification
-Section 45
-Paragraph 1
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147483467/210-10-45-1

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Topic 210
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.5-02(9))
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480566/210-10-S99-1

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1A
-Subparagraph (SX 210.13-01(a)(4)(i))
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480097/470-10-S99-1A

Reference 10: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 470
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1A
-Subparagraph (SX 210.13-01(a)(4)(ii))
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480097/470-10-S99-1A

Reference 11: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 470
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1A
-Subparagraph (SX 210.13-01(a)(4)(iii))
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480097/470-10-S99-1A

Reference 12: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1A
-Subparagraph (SX 210.13-01(a)(4)(iii)(A))
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480097/470-10-S99-1A

Reference 13: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1A
-Subparagraph (SX 210.13-01(a)(4)(iv))
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480097/470-10-S99-1A

Reference 14: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1A
-Subparagraph (SX 210.13-01(a)(5))
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480097/470-10-S99-1A

Reference 15: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1B
-Subparagraph (SX 210.13-02(a)(4)(i))
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480097/470-10-S99-1B

Reference 16: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1B
-Subparagraph (SX 210.13-02(a)(4)(iii)(A))
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480097/470-10-S99-1B

Reference 17: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1B
-Subparagraph (SX 210.13-02(a)(4)(iii)(B))
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480097/470-10-S99-1B

Reference 18: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1B
-Subparagraph (SX 210.13-02(a)(4)(iv))
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480097/470-10-S99-1B

Reference 19: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1B
-Subparagraph (SX 210.13-02(a)(5))
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480097/470-10-S99-1B

Reference 20: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 852
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 7
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481404/852-10-50-7

+ Details

- Definition

Sum of the carrying amounts as of the balance sheet date of all assets that are expected to be realized in cash, sold or consumed after one year or beyond the normal operating cycle, if longer.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 810
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 3
-Subparagraph (bb)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481203/810-10-50-3

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Topic 810
-SubTopic 10
-Name Accounting Standards Codification
-Section 45
-Paragraph 25
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481231/810-10-45-25

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Topic 235
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.4-08(g)(1)(ii))
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480678/235-10-S99-1

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Topic 323
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 3
-Subparagraph (c)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481687/323-10-50-3

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Topic 825
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 28
-Subparagraph (f)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482907/825-10-50-28

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1A
-Subparagraph (SX 210.13-01(a)(4)(i))
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480097/470-10-S99-1A

Reference 7: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 470
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1A
-Subparagraph (SX 210.13-01(a)(4)(ii))
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480097/470-10-S99-1A

Reference 8: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 470
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1A
-Subparagraph (SX 210.13-01(a)(4)(iii))
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480097/470-10-S99-1A

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1A
-Subparagraph (SX 210.13-01(a)(4)(iii)(A))
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480097/470-10-S99-1A

Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1A
-Subparagraph (SX 210.13-01(a)(4)(iv))
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480097/470-10-S99-1A

Reference 11: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1A
-Subparagraph (SX 210.13-01(a)(5))
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480097/470-10-S99-1A

Reference 12: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1B
-Subparagraph (SX 210.13-02(a)(4)(i))
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480097/470-10-S99-1B

Reference 13: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1B
-Subparagraph (SX 210.13-02(a)(4)(iii)(A))
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480097/470-10-S99-1B

Reference 14: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1B
-Subparagraph (SX 210.13-02(a)(4)(iii)(B))
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480097/470-10-S99-1B

Reference 15: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1B
-Subparagraph (SX 210.13-02(a)(4)(iv))
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480097/470-10-S99-1B

Reference 16: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1B
-Subparagraph (SX 210.13-02(a)(5))
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480097/470-10-S99-1B

Reference 17: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 852
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 7
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481404/852-10-50-7

+ Details

- Definition

Total obligations incurred as part of normal operations that are expected to be paid during the following twelve months or within one business cycle, if longer.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 810
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 3
-Subparagraph (c)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481203/810-10-50-3

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Topic 810
-SubTopic 10
-Name Accounting Standards Codification
-Section 45
-Paragraph 25
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481231/810-10-45-25

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Topic 810
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 3
-Subparagraph (bb)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481203/810-10-50-3

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Topic 235
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.4-08(g)(1)(ii))
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480678/235-10-S99-1

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Topic 323
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 3
-Subparagraph (c)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481687/323-10-50-3

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Topic 825
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 28
-Subparagraph (f)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482907/825-10-50-28

Reference 7: http://www.xbrl.org/2003/role/exampleRef
-Topic 852
-SubTopic 10
-Name Accounting Standards Codification
-Section 55
-Paragraph 10
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481372/852-10-55-10

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Topic 210
-SubTopic 10
-Name Accounting Standards Codification
-Section 45
-Paragraph 5
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147483467/210-10-45-5

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1A
-Subparagraph (SX 210.13-01(a)(4)(i))
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480097/470-10-S99-1A

Reference 10: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 470
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1A
-Subparagraph (SX 210.13-01(a)(4)(ii))
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480097/470-10-S99-1A

Reference 11: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1A
-Subparagraph (SX 210.13-01(a)(4)(iii)(A))
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480097/470-10-S99-1A

Reference 12: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1A
-Subparagraph (SX 210.13-01(a)(4)(iv))
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480097/470-10-S99-1A

Reference 13: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1A
-Subparagraph (SX 210.13-01(a)(5))
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480097/470-10-S99-1A

Reference 14: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1B
-Subparagraph (SX 210.13-02(a)(4)(i))
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480097/470-10-S99-1B

Reference 15: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1B
-Subparagraph (SX 210.13-02(a)(4)(iii)(A))
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480097/470-10-S99-1B

Reference 16: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1B
-Subparagraph (SX 210.13-02(a)(4)(iii)(B))
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480097/470-10-S99-1B

Reference 17: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1B
-Subparagraph (SX 210.13-02(a)(4)(iv))
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480097/470-10-S99-1B

Reference 18: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1B
-Subparagraph (SX 210.13-02(a)(5))
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480097/470-10-S99-1B

Reference 19: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 852
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 7
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481404/852-10-50-7

Reference 20: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 852
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 7
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481404/852-10-50-7

Reference 21: http://fasb.org/us-gaap/role/ref/legacyRef
-Name Accounting Standards Codification
-Topic 210
-SubTopic 10
-Section S99
-Paragraph 1
-Subparagraph (SX 210.5-02.21)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480566/210-10-S99-1

+ Details

- Definition

Amount of obligation due after one year or beyond the normal operating cycle, if longer.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.5-02(22))
-SubTopic 10
-Topic 210
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480566/210-10-S99-1

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Topic 810
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 3
-Subparagraph (c)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481203/810-10-50-3

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Topic 810
-SubTopic 10
-Name Accounting Standards Codification
-Section 45
-Paragraph 25
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481231/810-10-45-25

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Topic 810
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 3
-Subparagraph (bb)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481203/810-10-50-3

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Topic 235
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.4-08(g)(1)(ii))
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480678/235-10-S99-1

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Topic 323
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 3
-Subparagraph (c)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481687/323-10-50-3

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Topic 825
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 28
-Subparagraph (f)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482907/825-10-50-28

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1A
-Subparagraph (SX 210.13-01(a)(4)(i))
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480097/470-10-S99-1A

Reference 9: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 470
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1A
-Subparagraph (SX 210.13-01(a)(4)(ii))
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480097/470-10-S99-1A

Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1A
-Subparagraph (SX 210.13-01(a)(4)(iii)(A))
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480097/470-10-S99-1A

Reference 11: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1A
-Subparagraph (SX 210.13-01(a)(4)(iv))
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480097/470-10-S99-1A

Reference 12: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1A
-Subparagraph (SX 210.13-01(a)(5))
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480097/470-10-S99-1A

Reference 13: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1B
-Subparagraph (SX 210.13-02(a)(4)(i))
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480097/470-10-S99-1B

Reference 14: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1B
-Subparagraph (SX 210.13-02(a)(4)(iii)(A))
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480097/470-10-S99-1B

Reference 15: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1B
-Subparagraph (SX 210.13-02(a)(4)(iii)(B))
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480097/470-10-S99-1B

Reference 16: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1B
-Subparagraph (SX 210.13-02(a)(4)(iv))
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480097/470-10-S99-1B

Reference 17: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1B
-Subparagraph (SX 210.13-02(a)(5))
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480097/470-10-S99-1B

Reference 18: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 852
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 7
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481404/852-10-50-7

Reference 19: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 852
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 7
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481404/852-10-50-7

Reference 20: http://fasb.org/us-gaap/role/ref/legacyRef
-Topic 210
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.5-02(23))
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480566/210-10-S99-1

Reference 21: http://fasb.org/us-gaap/role/ref/legacyRef
-Topic 210
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 201.5-02(24))
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480566/210-10-S99-1

Reference 22: http://fasb.org/us-gaap/role/ref/legacyRef
-Topic 210
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 201.5-02(25))
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480566/210-10-S99-1

Reference 23: http://fasb.org/us-gaap/role/ref/legacyRef
-Topic 210
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 201.5-02(26))
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480566/210-10-S99-1

+ Details

Stock-Based Compensation

12 Months Ended

Dec. 31, 2023

Share-Based Payment Arrangement [Abstract]

Stock-Based Compensation

As of November 9, 2009, the Company adopted the Lear Corporation 2009 Long-Term Stock Incentive Plan (as amended, the "2009 LTSIP"). The 2009 LTSIP reserved 11,815,748 shares of common stock for issuance under stock option, restricted stock, restricted stock unit, restricted unit, performance share, performance unit and stock appreciation right awards. As of May 16, 2019, the Company adopted the Lear Corporation 2019 Long-Term Stock Incentive Plan (the "2019 LTSIP," and together with the 2009 LTSIP, the "Plans"), after which no awards will be issued under the 2009 LTSIP. The 2019 LTSIP reserves 4,226,858 shares of common stock plus shares of common stock awarded under the 2009 LTSIP that are cancelled subsequent to May 16, 2019, for issuance under stock option, restricted stock, restricted stock unit, restricted unit, performance share, performance unit and stock appreciation right awards.

Under the Plans, the Company has granted restricted stock units, performance shares and stock options to certain of its employees, all of which generally vest in one to three years following the grant date. For the years ended December 31, 2023, 2022 and 2021, the Company recognized compensation expense related to these awards of $65.8 million, $50.3 million and

$58.7 million, respectively. Unrecognized compensation expense related to these awards of $67.8 million will be recognized over the next 1.6 years on a weighted average basis. In accordance with the provisions of the awards, the Company withholds shares from the settlement of such awards to cover minimum statutory tax withholding requirements. The withheld shares are classified as common stock held in treasury in the accompanying consolidated balance sheets as of December 31, 2023 and 2022.

A summary of restricted stock units, performance shares and stock options for the year ended December 31, 2023, is shown below:


	Restricted Stock Units	Weighted Average Grant Date Fair Value	Performance Shares	Weighted Average Grant Date Fair Value	Stock Options	Weighted Average Grant Date Fair Value
Outstanding as of December 31, 2022	494,461	$145.64	726,485	$201.83	202,702	$32.65
Granted	240,389	$130.38	430,899	$138.54	—
Distributed (vested)	(159,830)		(132,302)		—
Cancelled	(5,696)		(110,171)		—
Outstanding as of December 31, 2023 (1)	569,324	$138.21	914,911	$161.36	202,702	$32.65

Vested or expected to vest as of December 31, 2023	569,324		611,161		—

(1) Outstanding performance shares are reflected at the maximum possible payout that may be earned during the relevant performance periods.

The grant date fair value of restricted stock units is based on the share price on the grant date. The weighted average grant date fair value of restricted stock units granted in 2022 and 2021 was $164.57 and $165.28, respectively. The grant date fair value of performance shares is based on the share price on the grant date or a Monte Carlo simulation, as applicable. The weighted average grant date fair value of performance shares granted in 2022 and 2021 was $196.83 and $188.11, respectively. The grant date fair value of stock options is based on a Black-Scholes model. The grant date fair value of options granted in 2021 was $35.33. There were no stock options granted in 2022.

Consolidated Statements of Cash Flows (Parenthetical) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Income tax refunds received	$ 15.7	$ 17.1	$ 40.7
Decrease in accounts payable	(162.4)	$ (368.6)	$ 129.6
I.G. Bauerhin
Decrease in accounts payable	$ 15.4

Capital Stock, Accumulated Other Comprehensive Loss and Equity

12 Months Ended

Dec. 31, 2023

Equity [Abstract]

Capital Stock, Accumulated Other Comprehensive Loss and Equity

Common Stock

The Company is authorized to issue up to 300,000,000 shares of Common Stock. The Company's Common Stock is listed on the New York Stock Exchange under the symbol "LEA" and has the following rights and privileges:

•Voting Rights – All shares of the Company's common stock have identical rights and privileges. With limited exceptions, holders of common stock are entitled to one vote for each outstanding share of common stock held of record by each stockholder on all matters properly submitted for the vote of the Company's stockholders.

•Dividend Rights – Subject to applicable law, any contractual restrictions and the rights of the holders of outstanding preferred stock, if any, holders of common stock are entitled to receive ratably such dividends and other distributions that the Company's Board of Directors (the "Board"), in its discretion, declares from time to time.

•Liquidation Rights – Upon the dissolution, liquidation or winding up of the Company, subject to the rights of the holders of outstanding preferred stock, if any, holders of common stock are entitled to receive ratably the assets of the Company available for distribution to the Company's stockholders in proportion to the number of shares of common stock held by each stockholder.

•Conversion, Redemption and Preemptive Rights – Holders of common stock have no conversion, redemption, sinking fund, preemptive, subscription or similar rights.

Common Stock Share Repurchase Program

The Company may implement share repurchases through a variety of methods, including, but not limited to, open market purchases, accelerated stock repurchase programs and structured repurchase transactions. The extent to which the Company may repurchase its outstanding common stock and the timing of such repurchases will depend upon its financial condition, results of operations, capital requirements, prevailing market conditions, alternative uses of capital and other factors.

The Company has a common stock share repurchase program (the "Repurchase Program") which permits the discretionary repurchase of its common stock. Since its inception in the first quarter of 2011, the Board has authorized $6.1 billion in share repurchases under the Repurchase Program. As of December 31, 2023, the Company has repurchased, in aggregate, $5.2 billion of its outstanding common stock, at an average price of $93.43 per share, excluding commissions and related fees. As of December 31, 2023, the Company has a remaining repurchase authorization of $0.9 billion under its Repurchase Program, which expires on December 31, 2024.

Share repurchases are shown below (in millions, except for shares and per share amounts):


For the year ended December 31,	Aggregate Repurchases		Cash paid for Repurchases		Number of Shares	Average Price per Share (1)
2023	$	313.1	$	296.5	2,281,723	$	137.21
2022	$	100.3	$	100.3	763,309	$	131.37
2021	$	100.3	$	100.3	589,717	$	170.03

(1) Excludes commissions.

In addition to shares repurchased under the Repurchase Program described above, the Company classifies shares withheld from the settlement of the Company's restricted stock unit and performance share awards to cover tax withholding requirements as common stock held in treasury in the consolidated balance sheet.

Quarterly Dividend

In 2023 and 2022, the Board declared a quarterly cash dividend of $0.77 per share of common stock in all quarters.

In 2021, the Board declared a quarterly cash dividend of $0.25 per share of common stock in the first and second quarters, a quarterly cash dividend of $0.50 per share of common stock in the third quarter and a quarterly cash dividend of $0.77 per share of common stock in the fourth quarter.

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


For the year ended December 31,	2023		2022		2021
Dividends declared	$	184.5	$	186.2	$	107.9
Dividends paid	$	181.9	$	185.5	$	106.7

Dividends payable on common shares to be distributed under the Company's stock-based compensation program will be paid when such common shares are distributed.

Comprehensive Income

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

Accumulated Other Comprehensive Loss

A summary of changes in accumulated other comprehensive loss, net of tax, is shown below (in millions):


For the year ended December 31,	2023		2022		2021
Defined benefit plans:
Balance at beginning of year	$	(95.7)	$	(199.4)	$	(276.9)
Reclassification adjustments (net of tax benefit (expense) of $0.2 million in 2023, ($1.0) million in 2022 and ($2.1) million in 2021)	(1.0)		4.0		7.1
Other comprehensive income (loss) recognized during the period (net of tax benefit (expense) of $2.0 million in 2023, ($23.9) million in 2022 and ($20.6) million in 2021)	(10.6)		99.7		70.4
Balance at end of year	$	(107.3)	$	(95.7)	$	(199.4)
Derivative instruments and hedge activities:
Balance at beginning of year	$	33.4	$	(18.6)	$	12.6
Reclassification adjustments (net of tax benefit of $35.1 million in 2023, $8.5 million in 2022 and $8.7 million in 2021)	(141.3)		(35.3)		(36.0)
Other comprehensive income recognized during the period (net of tax expense of $51.0 million in 2023, $19.1 million in 2022 and $1.2 million in 2021)	215.8		87.3		4.8
Balance at end of year	$	107.9	$	33.4	$	(18.6)
Currency translation adjustments:
Balance at beginning of year	$	(742.8)	$	(552.2)	$	(440.8)
Other comprehensive income (loss) recognized during the period (net of tax benefit (expense) of $1.2 million in 2023, ($4.7) million in 2022 and ($4.1) million in 2021)	53.4		(190.6)		(111.4)
Balance at end of year	$	(689.4)	$	(742.8)	$	(552.2)

For the years ended December 31, 2023, 2022 and 2021, other comprehensive income (loss) related to currency translation adjustments includes pretax losses related to intercompany transactions for which settlement is not planned or anticipated in the foreseeable future of $0.1 million, $2.6 million and $0.4 million, respectively.

For the years ended December 31, 2023, 2022 and 2021, other comprehensive income (loss) related to currency translation adjustments also includes net investment hedge gains (losses) of ($5.9) million, $25.3 million and $17.9 million, respectively.

Noncontrolling Interests

In 2021, the Company sold a 49% equity interest in its wholly owned consolidated subsidiary, Shenyang Lear Jinbei Automotive Systems Co., Ltd. ("Shenyang Lear"), for $36.2 million. The Company continues to control Shenyang Lear, and as a result, the operating results and cash flows of Shenyang Lear continue to be included in the Company's consolidated financial statements. Noncontrolling interest of $7.6 million was recorded in conjunction with the transaction. The difference between the consideration paid and the carrying value of the noncontrolling interest recorded is reflected in additional paid-in capital in the accompanying consolidated balance sheets. The proceeds from the sale are classified within cash flows used in financing activities in the accompanying consolidated statement of cash flows for the year ended December 31, 2021.

- Definition

The entire disclosure for equity.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 505
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 13
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481112/505-10-50-13

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Topic 505
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 13
-Subparagraph (h)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481112/505-10-50-13

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Topic 505
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 14
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481112/505-10-50-14

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
-SubTopic 235
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481062/946-235-50-2

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
-SubTopic 235
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (d)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481062/946-235-50-2

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
-SubTopic 505
-Name Accounting Standards Codification
-Section 50
-Paragraph 6
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481004/946-505-50-6

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Topic 815
-SubTopic 40
-Name Accounting Standards Codification
-Section 50
-Paragraph 6
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480237/815-40-50-6

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Topic 505
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.3-04)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480008/505-10-S99-1

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Topic 235
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.4-08(e)(1))
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480678/235-10-S99-1

Reference 10: http://fasb.org/us-gaap/role/ref/legacyRef
-Topic 505
-Name Accounting Standards Codification
-Publisher FASB
-URI https://asc.fasb.org//505/tableOfContent

Reference 11: http://www.xbrl.org/2003/role/disclosureRef
-Topic 505
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 13
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481112/505-10-50-13

Reference 12: http://www.xbrl.org/2003/role/disclosureRef
-Topic 505
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 13
-Subparagraph (g)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481112/505-10-50-13

Reference 13: http://www.xbrl.org/2003/role/disclosureRef
-Topic 505
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 13
-Subparagraph (i)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481112/505-10-50-13

Reference 14: http://www.xbrl.org/2003/role/disclosureRef
-Topic 505
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 14
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481112/505-10-50-14

Reference 15: http://www.xbrl.org/2003/role/disclosureRef
-Topic 505
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 14
-Subparagraph (c)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481112/505-10-50-14

Reference 16: http://www.xbrl.org/2003/role/disclosureRef
-Topic 505
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 16
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481112/505-10-50-16

Reference 17: http://www.xbrl.org/2003/role/disclosureRef
-Topic 505
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 18
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481112/505-10-50-18

Reference 18: http://www.xbrl.org/2003/role/disclosureRef
-Topic 505
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 18
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481112/505-10-50-18

Reference 19: http://www.xbrl.org/2003/role/disclosureRef
-Topic 505
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 18
-Subparagraph (d)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481112/505-10-50-18

+ Details

Leases - Narrative (Details) - USD ($) $ in Millions	12 Months Ended
Leases - Narrative (Details) - USD ($) $ in Millions	Dec. 31, 2023	Dec. 31, 2022
Lessee, Lease, Description
Gain (loss) on sale of manufacturing facility	$ 11.3
Russia Ukraine Conflict
Lessee, Lease, Description
Fixed asset impairment charges		$ 19.4
Russia Ukraine Conflict \| Right-of-use assets
Lessee, Lease, Description
Fixed asset impairment charges		7.0
Kongsberg Automotives Interior Comfort Division
Lessee, Lease, Description
Right of use asset	34.1	34.1
Lease liability	34.1	$ 34.1
I.G. Bauerhin \| Level 3 \| Estimate of Fair Value Measurement
Lessee, Lease, Description
Right of use asset	14.3
Lease liability	$ 14.3

Financial Instruments - Cash and Cash Equivalents (Details) - USD ($) $ in Millions	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Investments, All Other Investments [Abstract]
Balance sheet — cash and cash equivalents	$ 1,196.3	$ 1,114.9	$ 1,318.3
Restricted cash included in other current assets	0.6	0.3	1.4
Restricted cash included in other long-term assets	1.6	2.2	1.6
Statement of cash flows — cash, cash equivalents and restricted cash	$ 1,198.5	$ 1,117.4	$ 1,321.3	$ 1,314.5

Leases - Summary of Cash Flow Information Related to Operating Leases (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Non-cash activity:
Right-of-use assets obtained in exchange for operating lease obligations	$ 181.6	$ 236.1	$ 258.4
Operating cash flows:
Cash paid related to operating lease obligations	$ 183.2	$ 164.3	$ 164.2

Summary of Significant Accounting Policies (Policies)

12 Months Ended

Dec. 31, 2023

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.

Cash, Cash Equivalents and Restricted Cash

Cash and cash equivalents include all highly liquid investments with original maturities of ninety days or less. Restricted cash includes cash that is legally restricted as to use or withdrawal.

Accounts Receivable

Inventories

Pre-Production Costs Related to Long-Term Supply Agreements

Other E&D Costs

Costs incurred in connection with product launches, to the extent not recoverable from the Company's customers, are recorded in cost of sales as incurred

Property, Plant and Equipment


Buildings and improvements			10 to 40 years
Machinery and equipment			5 to 10 years

Impairment of Goodwill

Intangible Assets

Impairment of Long-Lived Assets

Impairment of Investments in Affiliates

Leases

Operating lease expense is recognized on a straight-line basis over the lease terms.

Revenue Recognition/Cost of Sales

Revenue Recognition

Cost of SalesCost of sales includes material, labor and overhead costs associated with the manufacture and distribution of the Company's products. Distribution costs include inbound freight costs, purchasing and receiving costs, inspection costs, warehousing costs and other costs of the Company's distribution network.

Selling, General and Administrative Expenses

Selling, General and Administrative ExpensesSelling, general and administrative expenses include selling, engineering and development and administrative costs not directly associated with the manufacture and distribution of the Company's products.

Restructuring Costs

Other Expense, Net

Income Taxes

The Company reclassifies taxes from accumulated other comprehensive loss to earnings as the items to which the tax effects relate are similarly reclassified.

Foreign Currency

Stock-Based Compensation

The Company measures stock-based employee compensation expense at fair value in accordance with GAAP and recognizes such expense over the vesting period of the stock-based employee awards.

Net Income Per Share Attributable to Lear

Product Warranty

Losses from warranty obligations are accrued when it is probable that a liability has been incurred and the related amounts are reasonably estimable.

Segment Reporting

The accounting policies of the Company's operating segments are the same as those described in this note to the consolidated financial statements.

Derivative Instruments and Hedging Activities

Derivative Instruments and Hedge Activities

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.

Use of Estimates

Pension and Other Postretirement Benefit Plans

The Company has noncontributory defined benefit pension plans covering certain domestic employees and certain employees in foreign countries, principally Canada.

The Company's domestic salaried pension plans provide benefits based on final average earnings formulas. The Company's domestic hourly pension plans provide benefits under flat benefit and cash balance formulas. The Company also has contractual arrangements with certain employees which provide for supplemental retirement benefits. In general, the Company's policy is to fund its pension benefit obligation based on legal requirements, tax and liquidity considerations and local practices.

The Company has postretirement benefit plans covering certain domestic and Canadian retirees. The Company's postretirement benefit plans generally provide for the continuation of medical benefits for eligible retirees. The Company does not fund its postretirement benefit obligation. Rather, payments are made as costs are incurred by covered retirees.

The Company uses the corridor approach when amortizing actuarial gains and losses. Under the corridor approach, net unrecognized actuarial gains and losses in excess of 10% of the greater of i) the projected benefit obligation or ii) the fair value of plan assets are amortized over future periods. For plans with little to no active participants, the amortization period is the remaining average life expectancy of the participants. For plans with active participants, the amortization period is the remaining average service period of the active participants.

Accumulated Other Comprehensive Loss

Comprehensive Income

Marketable Equity Securities

Unrealized gains and losses arising from changes in the fair value of the marketable equity securities are recognized in other expense, net in the accompanying consolidated statements of income. 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).

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.

Accounting Pronouncements

Accounting Standards Updates ("ASU") Issued But Not Yet Adopted:

ASU 2023-07 (issued November 2023), "Segment Reporting - Improving Reportable Segment Disclosures." The ASU requires disclosure of significant segment expenses impacting profit and loss that are regularly provided to the chief operating decision maker. It also requires public entities to provide in interim periods all disclosures about a reportable segment’s profit or loss and assets that are currently required annually. The update is required to be applied retrospectively to prior periods presented, based on the significant segment expense categories identified and disclosed in the period of adoption. The update is effective for fiscal years beginning after December 15, 2023, and interim periods within fiscal years beginning after December 15, 2024, with early adoption permitted. The Company is currently evaluating the impact of the standard on its financial disclosures.

ASU 2023-09 (issued December 2023), "Improvements to Income Tax Disclosures." The ASU requires disclosure of specific categories in the effective tax rate reconciliation, as well as additional information for reconciling items that meet a quantitative threshold. It also requires disclosure of income taxes paid, net of refunds, disaggregated by federal, state and foreign taxes, and further disaggregated by jurisdiction based on a quantitative threshold, for annual periods. The update is effective for fiscal years beginning after December 15, 2024, with early adoption permitted. The standard is to be adopted prospectively; however, retrospective application is permitted. The Company is currently evaluating the impact of the standard on its financial disclosures.

The Company considers the applicability and impact of all ASUs issued by the Financial Accounting Standards Board. Other recently issued accounting pronouncements are not expected to have a material impact or are not relevant to the Company's consolidated financial statements.

Accounting Pronouncements	12 Months Ended
Accounting Pronouncements	Dec. 31, 2023
Accounting Changes and Error Corrections [Abstract]
Accounting Pronouncements	Accounting Pronouncements Accounting Standards Updates ("ASU") Issued But Not Yet Adopted: ASU 2023-07 (issued November 2023), "Segment Reporting - Improving Reportable Segment Disclosures." The ASU requires disclosure of significant segment expenses impacting profit and loss that are regularly provided to the chief operating decision maker. It also requires public entities to provide in interim periods all disclosures about a reportable segment’s profit or loss and assets that are currently required annually. The update is required to be applied retrospectively to prior periods presented, based on the significant segment expense categories identified and disclosed in the period of adoption. The update is effective for fiscal years beginning after December 15, 2023, and interim periods within fiscal years beginning after December 15, 2024, with early adoption permitted. The Company is currently evaluating the impact of the standard on its financial disclosures. ASU 2023-09 (issued December 2023), "Improvements to Income Tax Disclosures." The ASU requires disclosure of specific categories in the effective tax rate reconciliation, as well as additional information for reconciling items that meet a quantitative threshold. It also requires disclosure of income taxes paid, net of refunds, disaggregated by federal, state and foreign taxes, and further disaggregated by jurisdiction based on a quantitative threshold, for annual periods. The update is effective for fiscal years beginning after December 15, 2024, with early adoption permitted. The standard is to be adopted prospectively; however, retrospective application is permitted. The Company is currently evaluating the impact of the standard on its financial disclosures. The Company considers the applicability and impact of all ASUs issued by the Financial Accounting Standards Board. Other recently issued accounting pronouncements are not expected to have a material impact or are not relevant to the Company's consolidated 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
-Topic 944
-SubTopic 40
-Name Accounting Standards Codification
-Section 65
-Paragraph 2
-Subparagraph (g)(2)(i)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480016/944-40-65-2

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Topic 944
-SubTopic 40
-Name Accounting Standards Codification
-Section 65
-Paragraph 2
-Subparagraph (g)(2)(ii)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480016/944-40-65-2

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Topic 944
-SubTopic 40
-Name Accounting Standards Codification
-Section 65
-Paragraph 2
-Subparagraph (g)(2)(iii)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480016/944-40-65-2

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Topic 944
-SubTopic 40
-Name Accounting Standards Codification
-Section 65
-Paragraph 2
-Subparagraph (g)(2)(iv)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480016/944-40-65-2

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Topic 944
-SubTopic 40
-Name Accounting Standards Codification
-Section 65
-Paragraph 2
-Subparagraph (h)(2)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480016/944-40-65-2

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Topic 250
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 5
-Subparagraph (SAB Topic 11.M.Q2)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480530/250-10-S99-5

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Topic 250
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (b)(4)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147483443/250-10-50-1

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Topic 815
-SubTopic 20
-Name Accounting Standards Codification
-Section 65
-Paragraph 6
-Subparagraph (i)(1)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480528/815-20-65-6

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Topic 842
-SubTopic 10
-Name Accounting Standards Codification
-Section 65
-Paragraph 5
-Subparagraph (f)(1)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147479832/842-10-65-5

Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Topic 842
-SubTopic 10
-Name Accounting Standards Codification
-Section 65
-Paragraph 5
-Subparagraph (f)(3)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147479832/842-10-65-5

Reference 11: http://www.xbrl.org/2003/role/disclosureRef
-Topic 815
-SubTopic 40
-Name Accounting Standards Codification
-Section 65
-Paragraph 2
-Subparagraph (c)(1)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480175/815-40-65-2

Reference 12: http://www.xbrl.org/2003/role/disclosureRef
-Topic 815
-SubTopic 40
-Name Accounting Standards Codification
-Section 65
-Paragraph 2
-Subparagraph (c)(2)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480175/815-40-65-2

Reference 13: http://www.xbrl.org/2003/role/disclosureRef
-Topic 815
-SubTopic 40
-Name Accounting Standards Codification
-Section 65
-Paragraph 2
-Subparagraph (c)(3)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480175/815-40-65-2

Reference 14: http://www.xbrl.org/2003/role/disclosureRef
-Topic 848
-SubTopic 10
-Name Accounting Standards Codification
-Section 65
-Paragraph 2
-Subparagraph (c)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147483550/848-10-65-2

Reference 15: http://www.xbrl.org/2003/role/disclosureRef
-Topic 105
-SubTopic 10
-Name Accounting Standards Codification
-Section 65
-Paragraph 6
-Subparagraph (f)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147479343/105-10-65-6

Reference 16: http://www.xbrl.org/2003/role/disclosureRef
-Topic 250
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147483443/250-10-50-1

Reference 17: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
-SubTopic 10
-Name Accounting Standards Codification
-Section 65
-Paragraph 8
-Subparagraph (e)(1)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482615/740-10-65-8

Reference 18: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
-SubTopic 10
-Name Accounting Standards Codification
-Section 65
-Paragraph 8
-Subparagraph (e)(2)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482615/740-10-65-8

Reference 19: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
-SubTopic 10
-Name Accounting Standards Codification
-Section 65
-Paragraph 8
-Subparagraph (e)(3)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482615/740-10-65-8

Reference 20: http://www.xbrl.org/2003/role/disclosureRef
-Topic 825
-SubTopic 10
-Name Accounting Standards Codification
-Section 65
-Paragraph 6
-Subparagraph (e)(1)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482833/825-10-65-6

Reference 21: http://www.xbrl.org/2003/role/disclosureRef
-Topic 825
-SubTopic 10
-Name Accounting Standards Codification
-Section 65
-Paragraph 6
-Subparagraph (e)(2)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482833/825-10-65-6

Reference 22: http://www.xbrl.org/2003/role/disclosureRef
-Topic 825
-SubTopic 10
-Name Accounting Standards Codification
-Section 65
-Paragraph 6
-Subparagraph (e)(3)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482833/825-10-65-6

Reference 23: http://www.xbrl.org/2003/role/disclosureRef
-Topic 326
-SubTopic 10
-Name Accounting Standards Codification
-Section 65
-Paragraph 4
-Subparagraph (e)(1)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147479654/326-10-65-4

Reference 24: http://www.xbrl.org/2003/role/disclosureRef
-Topic 326
-SubTopic 10
-Name Accounting Standards Codification
-Section 65
-Paragraph 4
-Subparagraph (e)(2)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147479654/326-10-65-4

Reference 25: http://www.xbrl.org/2003/role/disclosureRef
-Topic 926
-SubTopic 20
-Name Accounting Standards Codification
-Section 65
-Paragraph 2
-Subparagraph (f)(1)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147483194/926-20-65-2

Reference 26: http://www.xbrl.org/2003/role/disclosureRef
-Topic 926
-SubTopic 20
-Name Accounting Standards Codification
-Section 65
-Paragraph 2
-Subparagraph (f)(2)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147483194/926-20-65-2

Reference 27: http://www.xbrl.org/2003/role/disclosureRef
-Topic 926
-SubTopic 20
-Name Accounting Standards Codification
-Section 65
-Paragraph 2
-Subparagraph (f)(3)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147483194/926-20-65-2

Reference 28: http://www.xbrl.org/2003/role/disclosureRef
-Topic 250
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 6
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480530/250-10-S99-6

Reference 29: http://www.xbrl.org/2003/role/disclosureRef
-Topic 250
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (c)(1)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147483443/250-10-50-1

Reference 30: http://www.xbrl.org/2003/role/disclosureRef
-Topic 250
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (b)(1)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147483443/250-10-50-1

Reference 31: http://www.xbrl.org/2003/role/disclosureRef
-Name Accounting Standards Codification
-Topic 250
-Publisher FASB
-URI https://asc.fasb.org//250/tableOfContent

Reference 32: http://www.xbrl.org/2003/role/disclosureRef
-Topic 815
-SubTopic 40
-Name Accounting Standards Codification
-Section 65
-Paragraph 1
-Subparagraph (e)(1)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480175/815-40-65-1

Reference 33: http://www.xbrl.org/2003/role/disclosureRef
-Name Accounting Standards Codification
-Section 65
-Paragraph 2
-Subparagraph (d)(1)
-SubTopic 20
-Topic 310
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481925/310-20-65-2

Reference 34: http://www.xbrl.org/2003/role/disclosureRef
-Name Accounting Standards Codification
-Section 65
-Paragraph 2
-Subparagraph (d)(2)
-SubTopic 20
-Topic 310
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481925/310-20-65-2

+ Details

Stock-Based Compensation - Narrative (Details) - USD ($) $ / shares in Units, $ in Millions	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021	May 16, 2019	Nov. 09, 2009
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Common stock reserved for issuance (in shares)				4,226,858	11,815,748
Compensation expense	$ 65.8	$ 50.3	$ 58.7
Unrecognized compensation expense	$ 67.8
Unrecognized compensation expense, period of recognition	1 year 7 months 6 days
Weighted average grant date fair value for options (in dollars per share)			$ 35.33
Restricted Stock Units
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Weighted average grant date fair value of performance shares granted (in dollars per share)	130.38	$ 164.57	165.28
Performance Shares
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Weighted average grant date fair value of performance shares granted (in dollars per share)	$ 138.54	$ 196.83	$ 188.11
Minimum \| Restricted Stock Units
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting period	1 year
Minimum \| Performance Shares
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting period	1 year
Maximum \| Restricted Stock Units
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting period	3 years
Maximum \| Performance Shares
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting period	3 years

Financial Instruments - Narrative (Details) - USD ($)	12 Months Ended
Financial Instruments - Narrative (Details) - USD ($)	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021	Jul. 01, 2023
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis
Other long-term assets	$ 11,200,000	$ 18,200,000
Impairment loss	7,000,000		$ 1,000,000
Impairment loss, cumulative amount	17,000,000	10,000,000
Interest expense, net	101,100,000	98,600,000	91,800,000
Tax (expense) benefit related to derivative instruments and hedging activities recognized in other comprehensive income (loss)	(15,900,000)	(10,600,000)	7,500,000
Derivative contracts transfers in to Level 3 fair value hierarchy	0	0
Russia Ukraine Conflict
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis
Fixed asset impairment charges		19,400,000
Russia Ukraine Conflict \| Right-of-use assets
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis
Fixed asset impairment charges		7,000,000
E-Systems
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis
Impairment of intangible assets	1,900,000	8,900,000	8,500,000
Kongsberg Automotives Interior Comfort Division
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis
Property, plant and equipment	124,100,000
Intangible assets	11,100,000
Right of use asset	34,100,000	34,100,000
Lease liability	34,100,000	34,100,000
I.G. Bauerhin
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis
Property, plant and equipment	47,500,000			$ 49,700,000
Intangible assets	15,400,000			$ 17,000,000.0
Level 3
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis
Derivative contracts classified within Level 3 of fair value hierarchy	0	0
Estimate of Fair Value Measurement \| Level 3 \| Kongsberg Automotives Interior Comfort Division
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis
Property, plant and equipment, fair value	124,100,000	124,100,000
Intangible assets	11,100,000	11,100,000
Estimate of Fair Value Measurement \| Level 3 \| I.G. Bauerhin
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis
Property, plant and equipment	47,500,000
Right of use asset	14,300,000
Lease liability	14,300,000
Estimate of Fair Value Measurement \| Level 3 \| I.G. Bauerhin \| Developed Technology And customer Based Intangible Assets
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis
Intangible assets	15,400,000
Interest Rate Swap \| Net investment hedges \| Designated as Hedging Instrument
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis
Interest expense, net	2,300,000	4,600,000	$ 6,500,000
Foreign currency contracts, net \| Designated as Hedging Instrument \| Derivative Instruments and Hedging
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis
Pretax net gains (losses) related to derivative instruments and hedging activities in accumulated other comprehensive loss	$ 156,300,000	$ 71,800,000

Financial Instruments

12 Months Ended

Dec. 31, 2023

Investments, All Other Investments [Abstract]

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 Term Loan 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):


December 31,	2023		2022
Estimated aggregate fair value (1)	$	2,464.5	$	2,142.3
Aggregate carrying value (1) (2)	2,750.0		2,600.0

(1) 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 cash on deposit that is legally restricted as to use or withdrawal. A reconciliation of cash and cash equivalents reported on the accompanying consolidated balance sheets to cash, cash equivalents and restricted cash reported on the accompanying consolidated statements of cash flows is shown below (in millions):


December 31,	2023		2022		2021
Balance sheet — cash and cash equivalents	$	1,196.3	$	1,114.9	$	1,318.3
Restricted cash included in other current assets	0.6		0.3		1.4
Restricted cash included in other long-term assets	1.6		2.2		1.6
Statement of cash flows — cash, cash equivalents and restricted cash	$	1,198.5	$	1,117.4	$	1,321.3

Marketable Equity Securities

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


December 31,	2023		2022
Other current assets	$	4.8	$	3.6
Other long-term assets	68.5		53.6
	$	73.3	$	57.2

Equity Securities Without Readily Determinable Fair Values

As of December 31, 2023 and 2022, investments in equity securities without readily determinable fair values of $11.2 million and $18.2 million, respectively, are included in other long-term assets in the accompanying consolidated balance sheets. Such investments are valued at cost, less cumulative impairments and adjusted for changes resulting from observable, orderly transactions for identical or similar securities. For the years ended December 31, 2023 and 2021, the Company recognized impairment charges of $7.0 million and $1.0 million, respectively, related to certain investments. Investments in equity securities without readily determinable fair values have been reduced for cumulative impairments of $17.0 million and $10.0 million as of December 31, 2023 and 2022, respectively.

Derivative Instruments and Hedging Activities

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 Chinese renminbi, the Philippine peso, the Japanese yen and the Canadian dollar.

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. Contra interest expense on net investment hedges was $2.3 million, $4.6 million and $6.5 million for the years ended December 31, 2023, 2022 and 2021, respectively, and is included in interest expense, net in the accompanying consolidated statements of income.

Balance Sheet Classification


December 31,	2023		2022
Fair value of foreign currency contracts designated as cash flow hedges:
Other current assets	$	137.2	$	63.4
Other long-term assets	19.9		10.3
Other current liabilities	(1.8)		(6.7)
Other long-term liabilities	(0.5)		(0.2)
	154.8		66.8
Notional amount	$	2,352.3	$	1,546.9
Outstanding maturities in months, not to exceed	24		24
Fair value of derivatives designated as net investment hedges:
Other long-term assets	$	—	$	4.8

Other long-term liabilities	(1.1)		—
	(1.1)		4.8
Notional amount	$	150.0	$	150.0
Outstanding maturities in months, not to exceed	27		39
Fair value of foreign currency contracts not designated as hedge instruments:
Other current assets	$	5.8	$	9.5
Other current liabilities	(1.2)		(13.4)
	4.6		(3.9)
Notional amount	$	569.9	$	758.6
Outstanding maturities in months, not to exceed	1		7
Total fair value	$	158.3	$	67.7
Total notional amount	$	3,072.2	$	2,455.5

Accumulated Other Comprehensive Loss — Derivative Instruments and Hedge Activities

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


For the year ended December 31,	2023		2022		2021
Gains (losses) recognized in accumulated other comprehensive loss:
Foreign currency contracts	$	266.8	$	106.4	$	6.0

Net investment hedges	(5.9)		25.3		17.9
	260.9		131.7		23.9
(Gains) losses reclassified from accumulated other comprehensive loss to:
Net sales	(1.9)		(12.4)		(4.4)
Cost of sales	(177.3)		(33.8)		(42.7)
Interest expense, net	2.4		2.4		2.4
Other expense, net	0.4		—		—
	(176.4)		(43.8)		(44.7)
Comprehensive income (loss)	$	84.5	$	87.9	$	(20.8)

As of December 31, 2023 and 2022, pretax net gains of $156.3 million and $71.8 million, respectively, related to the Company's derivative instruments and hedge activities were recorded in accumulated other comprehensive loss.

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


Foreign currency contracts	$	135.3
Interest rate swap contracts	(2.4)

Total	$	132.9

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

For the years ended December 31, 2023, 2022 and 2021, the Company recognized tax benefit (expense) of ($15.9) million, ($10.6) million and $7.5 million, respectively, in other comprehensive income (loss) related to its derivative instruments and hedge 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.

Items Measured at Fair Value on a Recurring Basis


	December 31, 2023
	Frequency	Asset (Liability)		Valuation Technique	Level 1		Level 2		Level 3
Foreign currency contracts, net	Recurring	$	159.4	Market / Income	$	—	$	159.4	$	—
Net investment hedges	Recurring	(1.1)		Market / Income	—		(1.1)		—
Marketable equity securities	Recurring	73.3		Market	73.3		—		—


	December 31, 2022
	Frequency	Asset (Liability)		Valuation Technique	Level 1		Level 2		Level 3
Foreign currency contracts, net	Recurring	$	62.9	Market / Income	$	—	$	62.9	$	—
Net investment hedges	Recurring	4.8		Market / Income	—		4.8		—
Marketable equity securities	Recurring	57.2		Market	57.2		—		—

For further information on fair value measurements and the Company's defined benefit pension plan assets, see Note 10, "Pension and Other Postretirement Benefit Plans."

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.

Acquisitions

In 2023, as a result of the acquisition of IGB (Note 4, "Acquisitions"), Level 3 fair value estimates related to property, plant and equipment of $47.5 million, developed technology and customer-based intangible assets of $15.4 million and right-of-use assets of $14.3 million are recorded in the accompanying consolidated balance sheet as of December 31, 2023.

In 2022, as a result of the acquisition of Kongsberg ICS (Note 4, "Acquisitions"), Level 3 fair value estimates related to property, plant and equipment of $124.1 million, right-of-use assets of $34.1 million and developed technology intangible assets of $11.1 million are recorded in the accompanying consolidated balance sheets as of December 31, 2023 and 2022.

Fair value estimates of property, plant and equipment were based on independent appraisals, giving consideration to the highest and best use of the assets. Key assumptions used in the appraisals were based on a combination of market and cost approaches, as appropriate. Fair value estimates of developed technology intangible assets were based on a relief from royalty approach. Fair value estimates of customer-based intangible assets were based on the multi-period excess earnings method. Fair value estimates of right-of-use assets were based on a market approach.

Impairments

In 2023, 2022 and 2021, the Company completed impairment assessments related to certain of its intangible assets resulting from changes in the intended uses of such assets and recorded impairment charges of $1.9 million, $8.9 million and $8.5 million, respectively. The fair value estimate of the related asset group was based on management's estimates, using a discounted cash flow method (Note 3, "Summary of Significant Accounting Policies — Impairment of Long-Lived Assets").

In 2023, 2022 and 2021, the Company completed impairment assessments related to certain right-of-use assets in conjunction with its restructuring actions (Note 4, "Restructuring") and recorded impairment charges of $10.9 million, $6.5 million and $7.2 million, respectively. The fair value estimates of the related assets were based on management's estimates, using a discounted cash flow method.

In 2022, the Company completed impairment assessments related to substantially all of its operating assets in Russia and recorded charges of $19.4 million related to impairments of inventory, property, plant and equipment and right-of-use assets. The fair value estimates of the related assets were based on management's estimates, using a discounted cash flow method.

In 2022, the Company completed quantitative goodwill impairment analyses for selected reporting units (Note 3, "Summary of Significant Accounting Policies — Impairment of Goodwill"). The Level 3 fair value estimates of the reporting units were based on management's estimates, using the discounted cash flow method.

As of December 31, 2023 and 2022, there were no additional significant assets or liabilities measured at fair value on a non-recurring basis.

Schedule II - Valuation And Qualifying Accounts (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
SEC Schedule, 12-09, Movement in Valuation Allowances and Reserves
Balance as of Beginning of Period	$ 453.2	$ 442.4	$ 433.0
Additions	25.3	53.4	52.9
Retirements	(30.8)	(15.6)	(26.0)
Other Changes	16.9	(27.0)	(17.5)
Balance as of End of Period	464.6	453.2	442.4
Allowance for doubtful accounts
SEC Schedule, 12-09, Movement in Valuation Allowances and Reserves
Balance as of Beginning of Period	35.3	35.5	35.3
Additions	7.8	12.0	8.2
Retirements	(10.0)	(10.3)	(8.3)
Other Changes	2.5	(1.9)	0.3
Balance as of End of Period	35.6	35.3	35.5
Allowance for deferred tax assets
SEC Schedule, 12-09, Movement in Valuation Allowances and Reserves
Balance as of Beginning of Period	417.9	406.9	397.7
Additions	17.5	41.4	44.7
Retirements	(20.8)	(5.3)	(17.7)
Other Changes	14.4	(25.1)	(17.8)
Balance as of End of Period	$ 429.0	$ 417.9	$ 406.9

Summary of Significant Accounting Policies - Accrued Liabilities (Details) - USD ($) $ in Millions	Dec. 31, 2023	Dec. 31, 2022
Accounting Policies [Abstract]
Compensation and employee benefits	$ 514.8	$ 404.3
Income and other taxes payable	384.7	300.3
Current portion of lease obligations	151.9	136.8
Restructuring Reserve, Current	104.7	53.5
Other	1,049.1	1,066.6
Accrued liabilities	$ 2,205.2	$ 1,961.5

Summary of Significant Accounting Policies - Summary of Changes in Carrying Amount of Goodwill (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022
Goodwill
Beginning balance	$ 1,660.6	$ 1,657.9
Acquisition	73.5	27.9
Foreign currency translation and other	3.8	(25.2)
Ending balance	1,737.9	1,660.6
Seating
Goodwill
Beginning balance	1,261.1	1,249.3
Acquisition	73.5	27.9
Foreign currency translation and other	6.9	(16.1)
Ending balance	1,341.5	1,261.1
E-Systems
Goodwill
Beginning balance	399.5	408.6
Acquisition	0.0	0.0
Foreign currency translation and other	(3.1)	(9.1)
Ending balance	$ 396.4	$ 399.5

- Definition

Amount after accumulated impairment loss of an asset representing future economic benefits arising from other assets acquired in a business combination that are not individually identified and separately recognized.

+ References + Details

Financial Instruments - Pretax Amounts Related to Derivative Contracts that were Recognized in and Reclassified from Accumulated Other Comprehensive Income (Loss) (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Derivative
Gains (losses) recognized in accumulated other comprehensive loss	$ 260.9	$ 131.7	$ 23.9
Gains) losses reclassified from accumulated other comprehensive loss	(176.4)	(43.8)	(44.7)
Comprehensive income (loss)	84.5	87.9	(20.8)
Net sales
Derivative
Gains) losses reclassified from accumulated other comprehensive loss	(1.9)	(12.4)	(4.4)
Cost of sales
Derivative
Gains) losses reclassified from accumulated other comprehensive loss	(177.3)	(33.8)	(42.7)
Interest expense, net
Derivative
Gains) losses reclassified from accumulated other comprehensive loss	2.4	2.4	2.4
Other expense, net
Derivative
Gains) losses reclassified from accumulated other comprehensive loss	0.4	0.0	0.0
Foreign currency contracts
Derivative
Gains (losses) recognized in accumulated other comprehensive loss	266.8	106.4	6.0
Net investment hedges
Derivative
Gains (losses) recognized in accumulated other comprehensive loss	$ (5.9)	$ 25.3	$ 17.9

Basis of Presentation	12 Months Ended
Basis of Presentation	Dec. 31, 2023
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Basis of Presentation	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 consolidated financial statements include the accounts of Lear, a Delaware corporation, and the wholly owned and less than wholly owned subsidiaries controlled by Lear.

Cover - USD ($)	12 Months Ended
Cover - USD ($)	Dec. 31, 2023	Feb. 05, 2024	Jul. 01, 2023
Cover [Abstract]
Document Type	10-K
Document Annual Report	true
Document Period End Date	Dec. 31, 2023
Current Fiscal Year End Date	--12-31
Document Transition Report	false
Entity File Number	1-11311
Entity Registrant Name	LEAR CORP
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 per share
Trading Symbol	LEA
Security Exchange Name	NYSE
Entity Well-known Seasoned Issuer	Yes
Entity Voluntary Filers	No
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Large Accelerated Filer
Entity Emerging Growth Company	false
Entity Small Business	false
ICFR Auditor Attestation Flag	true
Document Financial Statement Error Correction [Flag]	false
Entity Shell Company	false
Entity Public Float			$ 8,417,302,017
Entity Common Stock, Shares Outstanding		57,033,998
Documents Incorporated by Reference	Certain sections of the registrant's Notice of Annual Meeting of Stockholders and Definitive Proxy Statement on Schedule 14A for its Annual Meeting of Stockholders to be held in May 2024, as described in the Cross Reference Sheet and Table of Contents included herewith, are incorporated by reference into Part III of this Report.
Amendment Flag	false
Document Fiscal Year Focus	2023
Document Fiscal Period Focus	FY
Entity Central Index Key	0000842162

Restructuring - Income Statement Location (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Restructuring Cost and Reserve
Total	$ 132.7	$ 154.2	$ 100.9
Cost of sales
Restructuring Cost and Reserve
Total	130.2	129.7	75.6
Selling, general and administrative expenses
Restructuring Cost and Reserve
Total	20.7	24.5	32.0
Other (income) expense, net
Restructuring Cost and Reserve
Total	$ (18.2)	$ 0.0	$ (6.7)

- Definition

Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.

+ References + Details

Consolidated Statements of Comprehensive Income - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Statement of Comprehensive Income [Abstract]
Consolidated net income	$ 645.7	$ 408.7	$ 461.6
Other comprehensive income (loss), net of tax:
Defined benefit plan adjustments	(11.6)	103.7	77.5
Derivative instruments and hedging activities	74.5	52.0	(31.2)
Foreign currency translation adjustments	50.9	(198.1)	(108.3)
Total other comprehensive income (loss)	113.8	(42.4)	(62.0)
Consolidated comprehensive income	759.5	366.3	399.6
Less: Comprehensive income attributable to noncontrolling interests	70.7	73.5	90.8
Comprehensive income attributable to Lear	$ 688.8	$ 292.8	$ 308.8

Pension and Other Postretirement Benefit Plans - Health Care Cost Trend Rates (Details)	Dec. 31, 2023
U.S.
Defined Benefit Plan Disclosure
Initial healthcare cost trend rate	6.30%
Ultimate healthcare cost trend rate	4.50%
Foreign
Defined Benefit Plan Disclosure
Initial healthcare cost trend rate	4.90%
Ultimate healthcare cost trend rate	4.00%

Pension and Other Postretirement Benefit Plans - Expected Benefit Payments (Details) $ in Millions	Dec. 31, 2023 USD ($)
U.S. \| Pension
Defined Benefit Plan Disclosure
2024	$ 22.8
2025	23.7
2026	25.0
2027	25.0
2028	25.8
Five years thereafter	137.7
U.S. \| Other Postretirement
Defined Benefit Plan Disclosure
2024	2.7
2025	2.6
2026	2.6
2027	2.5
2028	2.5
Five years thereafter	10.9
Foreign \| Pension
Defined Benefit Plan Disclosure
2024	23.6
2025	22.9
2026	23.1
2027	24.2
2028	25.5
Five years thereafter	126.0
Foreign \| Other Postretirement
Defined Benefit Plan Disclosure
2024	1.3
2025	1.3
2026	1.2
2027	1.2
2028	1.2
Five years thereafter	$ 5.3

Financial Instruments - Net Gains (Losses) Expected to be Reclassified into Earnings (Details) $ in Millions	12 Months Ended
	Dec. 31, 2023 USD ($)
Investments, All Other Investments [Abstract]
Foreign currency contracts	$ 135.3
Interest rate swap contracts	(2.4)
Total	$ 132.9

Financial Instruments - Fair Value Measurements and Related Valuation Techniques and Fair Value Hierarchy Level (Details) - USD ($) $ in Millions	Dec. 31, 2023	Dec. 31, 2022
Fair Value Measurement Inputs and Valuation Techniques
Asset (Liability)	$ 158.3	$ 67.7
Fair value, Measurements, Recurring
Fair Value Measurement Inputs and Valuation Techniques
Marketable equity securities	73.3	57.2
Fair value, Measurements, Recurring \| Level 1
Fair Value Measurement Inputs and Valuation Techniques
Marketable equity securities	73.3	57.2
Fair value, Measurements, Recurring \| Level 2
Fair Value Measurement Inputs and Valuation Techniques
Marketable equity securities	0.0	0.0
Fair value, Measurements, Recurring \| Level 3
Fair Value Measurement Inputs and Valuation Techniques
Marketable equity securities	0.0	0.0
Foreign currency contracts, net \| Fair value, Measurements, Recurring
Fair Value Measurement Inputs and Valuation Techniques
Asset (Liability)	159.4	62.9
Foreign currency contracts, net \| Fair value, Measurements, Recurring \| Level 1
Fair Value Measurement Inputs and Valuation Techniques
Asset (Liability)	0.0	0.0
Foreign currency contracts, net \| Fair value, Measurements, Recurring \| Level 2
Fair Value Measurement Inputs and Valuation Techniques
Asset (Liability)	159.4	62.9
Foreign currency contracts, net \| Fair value, Measurements, Recurring \| Level 3
Fair Value Measurement Inputs and Valuation Techniques
Asset (Liability)	0.0	0.0
Net investment hedges \| Fair value, Measurements, Recurring
Fair Value Measurement Inputs and Valuation Techniques
Asset (Liability)	(1.1)	4.8
Net investment hedges \| Fair value, Measurements, Recurring \| Level 1
Fair Value Measurement Inputs and Valuation Techniques
Asset (Liability)	0.0	0.0
Net investment hedges \| Fair value, Measurements, Recurring \| Level 2
Fair Value Measurement Inputs and Valuation Techniques
Asset (Liability)	(1.1)	4.8
Net investment hedges \| Fair value, Measurements, Recurring \| Level 3
Fair Value Measurement Inputs and Valuation Techniques
Asset (Liability)	$ 0.0	$ 0.0

Debt - Summary of Credit Agreement Interest Rate Ranges (Details) - Credit Agreement - Credit Agreement — Revolving Credit Facility	12 Months Ended
	Dec. 31, 2023
Term Benchmark, Central Bank Rate and RFR Loans
Line of Credit Facility
Interest rate	1.125%
ABR and Canadian Prime Rate Loans
Line of Credit Facility
Interest rate	0.125%
Minimum \| Term Benchmark, Central Bank Rate and RFR Loans
Line of Credit Facility
Basis spread on variable rate	0.925%
Minimum \| ABR and Canadian Prime Rate Loans
Line of Credit Facility
Basis spread on variable rate	0.00%
Maximum \| Term Benchmark, Central Bank Rate and RFR Loans
Line of Credit Facility
Basis spread on variable rate	1.45%
Maximum \| ABR and Canadian Prime Rate Loans
Line of Credit Facility
Basis spread on variable rate	0.45%

Leases - Summary of Right-of-Use Assets and Lease Obligations (Details) - USD ($) $ in Millions	Dec. 31, 2023	Dec. 31, 2022
Right-of-use assets under operating leases:
Other long-term assets	$ 733.5	$ 701.8
Lease obligations under operating leases:
Accrued liabilities	151.9	136.8
Other long-term liabilities	623.0	595.1
Lease obligations under operating leases	$ 774.9	$ 731.9
Operating Lease, Right-of-Use Asset, Statement of Financial Position [Extensible List]	Other	Other
Operating Lease, Liability, Current, Statement of Financial Position [Extensible List]	Accrued liabilities	Accrued liabilities
Operating Lease, Liability, Noncurrent, Statement of Financial Position [Extensible List]	Other	Other

Current Operating Environment	12 Months Ended
Current Operating Environment	Dec. 31, 2023
Unusual or Infrequent Items, or Both [Abstract]
Current Operating Environment	Current Operating Environment In 2020, the automotive industry experienced a significant decline in global production volumes as a result of the COVID-19 pandemic. Although industry production has recovered modestly and returned to 2019 pre-pandemic production levels in 2023, industry production remains below 2017 peak levels. Further, the global economy, as well as the automotive industry, have been influenced directly and indirectly by macroeconomic events resulting in unfavorable conditions, including shortages of semiconductor chips and other components, elevated inflation levels on commodities and labor, higher interest rates, and labor and energy shortages in certain markets. Beginning in the third quarter of 2023 and continuing into the fourth quarter of 2023, the automotive industry was impacted by labor strikes and related disruptions at certain facilities in the United States. Certain of these factors, among others, continue to impact consumer demand, as well as the ability of automotive manufacturers to produce vehicles to meet demand. The accompanying consolidated financial statements reflect estimates and assumptions made by management as of December 31, 2023, and for the year then ended. Such estimates and assumptions affect, among other things, the Company's goodwill, long-lived asset valuations, inventory valuations, valuations of deferred income taxes and income tax contingencies, and credit losses related to the Company's financial instruments. Events and circumstances arising after December 31, 2023, will be reflected in management's estimates and assumptions in future periods. For more information related to goodwill, long-lived assets, inventory and credit losses, see Note 3, "Summary of Significant Accounting Policies." For more information related to income taxes, see Note 3, "Summary of Significant Accounting Policies — Income Taxes," and Note 9, "Income Taxes." For more information related to leases, see Note 8, "Leases."

Investments in Affiliates and Other Related Party Transactions - Beneficial Ownership in Affiliates Accounted for under Equity Method (Details)	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Beijing BHAP Lear Automotive Systems Co., Ltd. (China)
Schedule of Equity Method Investments
Ownership percentage of affiliates	50.00%	50.00%	50.00%
Guangzhou Lear Automotive Components Co., Ltd. (China)
Schedule of Equity Method Investments
Ownership percentage of affiliates	50.00%	50.00%	50.00%
Jiangxi Jiangling Lear Interior Systems Co., Ltd. (China)
Schedule of Equity Method Investments
Ownership percentage of affiliates	50.00%	50.00%	50.00%
Lear Dongfeng Automotive Seating Co., Ltd. (China)
Schedule of Equity Method Investments
Ownership percentage of affiliates	50.00%	50.00%	50.00%
Beijing Lear Hyundai Transys Co., Ltd. (China)
Schedule of Equity Method Investments
Ownership percentage of affiliates	50.00%	50.00%	40.00%
Changchun Lear FAWSN Automotive Seat Systems Co., Ltd. (China)
Schedule of Equity Method Investments
Ownership percentage of affiliates	49.00%	49.00%	49.00%
Honduras Electrical Distribution Systems S. de R.L. de C.V. (Honduras)
Schedule of Equity Method Investments
Ownership percentage of affiliates	49.00%	49.00%	49.00%
Kyungshin-Lear Sales and Engineering LLC
Schedule of Equity Method Investments
Ownership percentage of affiliates	49.00%	49.00%	49.00%
Shenyang Jinbei Lear Automotive Seating Co. Ltd. (China)
Schedule of Equity Method Investments
Ownership percentage of affiliates	49.00%	49.00%	49.00%
Shenzhen Shinry Lear Electric Control Technology Co., Ltd. (China)
Schedule of Equity Method Investments
Ownership percentage of affiliates	49.00%	49.00%	0.00%
Hyundai Transys Lear Automotive Private Limited (India)
Schedule of Equity Method Investments
Ownership percentage of affiliates	35.00%	35.00%	35.00%
Techstars Corporate Partner 2017 LLC
Schedule of Equity Method Investments
Ownership percentage of affiliates	34.00%	34.00%	34.00%
RevoLaze, LLC
Schedule of Equity Method Investments
Ownership percentage of affiliates	20.00%	20.00%	20.00%
Maniv Mobility II A, L.P.
Schedule of Equity Method Investments
Ownership percentage of affiliates	7.00%	7.00%	7.00%
Trucks Venture Fund 2, L.P.
Schedule of Equity Method Investments
Ownership percentage of affiliates	7.00%	7.00%	5.00%
Autotech Fund II, L.P.
Schedule of Equity Method Investments
Ownership percentage of affiliates	3.00%	3.00%	4.00%

Income Taxes - Summary of Consolidated Income (Loss) Before Provision (Benefit) for Income Taxes and Equity in Net (Income) Loss of Affiliates and Components of Provision (Benefit) for Income Taxes (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Consolidated income before provision for income taxes and equity in net income of affiliates:
Domestic	$ 59.9	$ 87.6	$ (110.9)
Foreign	717.3	421.7	694.4
Consolidated income before provision for income taxes and equity in net income of affiliates	777.2	509.3	583.5
Domestic (benefit) provision for income taxes:
Current provision	43.0	35.3	38.4
Deferred benefit	(29.4)	(41.4)	(76.6)
Total domestic (benefit) provision	13.6	(6.1)	(38.2)
Foreign provision for income taxes:
Current provision	196.6	147.8	154.8
Deferred (benefit) provision	(29.4)	(8.0)	21.1
Total foreign provision	167.2	139.8	175.9
Provision for income taxes	$ 180.8	$ 133.7	$ 137.7

Restructuring - Narrative (Details) $ in Millions	Dec. 31, 2023 USD ($)
Seating
Restructuring Cost and Reserve
Expected restructuring costs	$ 62
E-Systems
Restructuring Cost and Reserve
Expected restructuring costs	$ 14

- Definition

Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.

+ References + Details

Restructuring - Schedule of Restructuring Reserve (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Restructuring Reserve
Accrual as of beginning of period	$ 82.9	$ 129.4
Provision for employee termination benefits	119.2	121.9	$ 85.1
Payments, utilizations and foreign currency	(80.5)	(168.4)
Accrual as of end of period	$ 121.6	$ 82.9	$ 129.4

Consolidated Balance Sheets (Parenthetical) - $ / shares	Dec. 31, 2023	Dec. 31, 2022
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)	64,571,405	64,571,405
Common stock held in treasury (in shares)	7,592,473	5,493,211
Series A convertible preferred stock
Preferred stock, shares authorized (in shares)	10,896,250	10,896,250

Restructuring - Summary Restructuring Costs (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Restructuring Cost and Reserve
Employee termination benefits	$ 119.2	$ 121.9	$ 85.1
Contract termination costs	5.7	4.5	0.3
Other related net costs	(8.2)	11.4	4.1
Total	132.7	154.2	100.9
Property, plant and equipment
Restructuring Cost and Reserve
Asset impairment charge	5.1	9.9	4.2
Right-of-use assets
Restructuring Cost and Reserve
Asset impairment charge	$ 10.9	$ 6.5	$ 7.2

- Definition

Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.

+ References + Details

Income Taxes - Summary of Changes in Gross Unrecognized Tax Benefits (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Gross Unrecognized Tax Benefits
Balance at beginning of period	$ 32.7	$ 34.9	$ 36.4
Additions based on tax positions related to current year	5.1	4.8	7.7
Reductions based on tax positions related to prior years	0.0	0.0	(4.0)
Settlements	0.0	(1.9)	(0.3)
Statute expirations	(5.1)	(6.3)	(5.2)
Foreign currency translation	0.4	1.2	0.3
Balance at end of period	$ 33.1	$ 32.7	$ 34.9

Segment Reporting - Summary of Segment Financial Information (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Segment Reporting Information
Revenues from external customers	$ 23,466.9	$ 20,891.5	$ 19,263.1
Segment earnings	933.2	654.3	675.4
Depreciation and amortization	604.4	576.5	573.9
Capital expenditures	626.5	638.2	585.1
Total assets	14,695.5	13,763.0
Operating Segments
Segment Reporting Information
Segment earnings	1,295.8	967.4	972.5
Operating Segments \| Seating
Segment Reporting Information
Revenues from external customers	17,548.8	15,711.2	14,411.4
Segment earnings	1,066.9	893.0	851.3
Depreciation and amortization	394.4	369.5	362.6
Capital expenditures	344.6	369.4	340.7
Total assets	8,371.2	7,897.4
Operating Segments \| E-Systems
Segment Reporting Information
Revenues from external customers	5,918.1	5,180.3	4,851.7
Segment earnings	228.9	74.4	121.2
Depreciation and amortization	189.3	188.2	195.7
Capital expenditures	261.3	241.3	217.2
Total assets	4,046.5	3,684.7
Other
Segment Reporting Information
Revenues from external customers	0.0	0.0	0.0
Segment earnings	(362.6)	(313.1)	(297.1)
Depreciation and amortization	20.7	18.8	15.6
Capital expenditures	20.6	27.5	$ 27.2
Total assets	$ 2,277.8	$ 2,180.9

Pension and Other Postretirement Benefit Plans - Amounts Recognized in Other Comprehensive Income (Loss) (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022
Pension \| U.S.
Actuarial gains (losses) recognized:
Unrecognized amounts in AOCL at beginning of period	$ (58.9)	$ (102.6)
Reclassification adjustments	1.0	2.0
Actuarial gains (losses) arising during the period	(0.3)	41.3
Effect of settlements	(0.1)	0.4
Prior service credit recognized:
Reclassification adjustments	0.0	0.0
Translation adjustment	0.0	0.0
Amounts recognized in OCIL during the period	0.6	43.7
Unrecognized amounts in AOCL at end of period	(58.3)	(58.9)
Pension \| Foreign
Actuarial gains (losses) recognized:
Unrecognized amounts in AOCL at beginning of period	(61.2)	(114.6)
Reclassification adjustments	1.9	4.1
Actuarial gains (losses) arising during the period	(11.0)	42.2
Effect of settlements	(0.4)	(0.2)
Prior service credit recognized:
Reclassification adjustments	0.0	0.0
Translation adjustment	(1.4)	7.3
Amounts recognized in OCIL during the period	(10.9)	53.4
Unrecognized amounts in AOCL at end of period	(72.1)	(61.2)
Other Postretirement \| U.S.
Actuarial gains (losses) recognized:
Unrecognized amounts in AOCL at beginning of period	39.2	14.7
Reclassification adjustments	(3.3)	(1.2)
Actuarial gains (losses) arising during the period	(0.7)	25.8
Effect of settlements	0.0	0.0
Prior service credit recognized:
Reclassification adjustments	(0.1)	(0.1)
Translation adjustment	0.0	0.0
Amounts recognized in OCIL during the period	(4.1)	24.5
Unrecognized amounts in AOCL at end of period	35.1	39.2
Other Postretirement \| Foreign
Actuarial gains (losses) recognized:
Unrecognized amounts in AOCL at beginning of period	4.2	(0.5)
Reclassification adjustments	(0.2)	0.0
Actuarial gains (losses) arising during the period	1.8	4.8
Effect of settlements	0.0	0.0
Prior service credit recognized:
Reclassification adjustments	0.0	0.0
Translation adjustment	0.1	(0.1)
Amounts recognized in OCIL during the period	1.7	4.7
Unrecognized amounts in AOCL at end of period	$ 5.9	$ 4.2

Legal and Other Contingencies - Schedule of Classification of Insurance Recoveries (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022
Unusual or Infrequent Item
Cash flows from operating activities	$ 8.2	$ 12.8
Cash flows from investing activities	1.1	0.5
Cost of sales \| Typhoon
Unusual or Infrequent Item
Consolidated statements of income	3.9	13.3
Other expense, net \| Typhoon
Unusual or Infrequent Item
Consolidated statements of income	$ 4.0	$ 1.4

Revenue Recognition

12 Months Ended

Dec. 31, 2023

Revenue from Contract with Customer [Abstract]

Revenue Recognition

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


For the year ended December 31,	2023
	Seating		E-Systems		Total
North America	$	7,797.9	$	1,705.5	$	9,503.4
Europe and Africa	6,167.9		2,444.7		8,612.6
Asia	2,947.5		1,497.5		4,445.0
South America	635.5		270.4		905.9
	$	17,548.8	$	5,918.1	$	23,466.9


For the year ended December 31,	2022
	Seating		E-Systems		Total
North America	$	7,416.3	$	1,494.4	$	8,910.7
Europe and Africa	4,944.0		2,002.0		6,946.0
Asia	2,731.9		1,451.3		4,183.2
South America	619.0		232.6		851.6
	$	15,711.2	$	5,180.3	$	20,891.5


For the year ended December 31,	2021
	Seating		E-Systems		Total
North America	$	6,277.2	$	1,271.0	$	7,548.2
Europe and Africa	4,805.5		1,939.8		6,745.3
Asia	2,759.9		1,468.0		4,227.9
South America	568.8		172.9		741.7
	$	14,411.4	$	4,851.7	$	19,263.1

- 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
-Topic 606
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 9
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147479806/606-10-50-9

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Topic 606
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 10
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147479806/606-10-50-10

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Topic 606
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 15
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147479806/606-10-50-15

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Topic 606
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 12
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147479806/606-10-50-12

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Topic 606
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 12
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147479806/606-10-50-12

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Topic 606
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 12
-Subparagraph (c)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147479806/606-10-50-12

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Topic 606
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 12
-Subparagraph (d)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147479806/606-10-50-12

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Topic 606
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 12
-Subparagraph (e)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147479806/606-10-50-12

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Topic 606
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 13
-Subparagraph (b)(2)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147479806/606-10-50-13

Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Name Accounting Standards Codification
-Topic 606
-Publisher FASB
-URI https://asc.fasb.org//606/tableOfContent

+ Details

Leases (Tables)

12 Months Ended

Dec. 31, 2023

Leases [Abstract]

Schedule of Right-of-Use Assets and Lease Obligations

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


December 31,	2023		2022
Right-of-use assets under operating leases:
Other long-term assets	$	733.5	$	701.8
Lease obligations under operating leases:
Accrued liabilities	$	151.9	$	136.8
Other long-term liabilities	623.0		595.1
	$	774.9	$	731.9

Schedule of Maturity of Lease Obligations

Maturities of lease obligations as of December 31, 2023, are shown below (in millions):


2024	$	177.9
2025	156.3
2026	131.6
2027	108.6
2028	87.8
Thereafter	213.2
Total undiscounted cash flows	875.4
Less: Imputed interest	(100.5)
Lease obligations under operating leases	$	774.9

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

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


For the year ended December 31,	2023		2022		2021
Non-cash activity:
Right-of-use assets obtained in exchange for operating lease obligations	$	181.6	$	236.1	$	258.4
Operating cash flows:
Cash paid related to operating lease obligations	$	183.2	$	164.3	$	164.2

Lease expense included in the accompanying consolidated statement of income is shown below (in millions):


For the year ended December 31,	2023		2022		2021
Operating lease expense	$	182.9	$	164.5	$	160.3
Short-term lease expense	20.7		22.1		19.4
Variable lease expense	9.7		8.4		7.9
Total lease expense	$	213.3	$	195.0	$	187.6

The weighted average lease term and discount rate for operating leases as of December 31, 2023, are shown below:


Weighted average remaining lease term	Seven years
Weighted average discount rate	4.0	%

Debt - 2030 Notes and 2049 Notes Issued in 2020 (Details) - USD ($)	1 Months Ended	12 Months Ended
	Nov. 30, 2021	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Debt Instrument
Long-term debt, gross		$ 2,750,000,000	$ 2,600,000,000
Loss on extinguishment of debt		0	0	$ 24,600,000
Payments of related issuance costs	$ 2,800,000	$ 1,200,000	$ 0	9,900,000
Senior Notes
Debt Instrument
Proceeds from offering				698,700,000	$ 669,100,000	$ 693,300,000
Payments of related issuance costs				$ 7,100,000
2030 Notes \| Senior Notes
Debt Instrument
Aggregate principal amount					$ 350,000,000
Stated interest rate		3.50%			3.50%
Stated coupon rate					99.774%
Yield to maturity			3.525%		3.525%
Long-term debt, gross		$ 350,000,000.0	$ 350,000,000.0
2030 Notes \| Senior Notes \| Prior to February 28, 2030
Debt Instrument
Stated coupon rate					100.00%
2030 Notes \| Senior Notes \| On or after February 28, 2030
Debt Instrument
Stated coupon rate					100.00%
2030 Notes \| Senior Notes \| On or after February 28, 2030 \| Minimum
Debt Instrument
Redemption price, notice period					15 days
2030 Notes \| Senior Notes \| On or after February 28, 2030 \| Maximum
Debt Instrument
Redemption price, notice period					60 days
2049 Senior Notes \| Senior Notes
Debt Instrument
Aggregate principal amount					$ 300,000,000
Stated interest rate					5.25%
Stated coupon rate					106.626%
Yield to maturity					4.821%
2049 Senior Notes \| Senior Notes \| Prior to November 15, 2048
Debt Instrument
Stated coupon rate					100.00%
2049 Senior Notes \| Senior Notes \| On or after November 15, 2048
Debt Instrument
Stated coupon rate					100.00%
2049 Senior Notes \| Senior Notes \| On or after November 15, 2048 \| Minimum
Debt Instrument
Redemption price, notice period					15 days
2049 Senior Notes \| Senior Notes \| On or after November 15, 2048 \| Maximum
Debt Instrument
Redemption price, notice period					60 days
2025 Notes \| Senior Notes
Debt Instrument
Stated interest rate					5.25%
Stated coupon rate					102.625%
Long-term debt, gross					$ 650,000,000

Pay vs Performance Disclosure - USD ($) $ in Millions	12 Months Ended
Pay vs Performance Disclosure - USD ($) $ in Millions	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Pay vs Performance Disclosure
Net income attributable to Lear	$ 572.5	$ 327.7	$ 373.9

- Definition

The portion of profit or loss for the period, net of income taxes, which is attributable to the parent.

+ References

+ Details

Summary of Significant Accounting Policies - Property, Plant and Equipment (Details) - USD ($) $ in Millions	Dec. 31, 2023	Dec. 31, 2022
Property, Plant and Equipment
Total property, plant and equipment	$ 6,758.1	$ 6,222.7
Less – accumulated depreciation	(3,780.7)	(3,368.7)
Net property, plant and equipment	2,977.4	2,854.0
Land
Property, Plant and Equipment
Total property, plant and equipment	105.6	104.6
Buildings and improvements
Property, Plant and Equipment
Total property, plant and equipment	$ 919.4	868.6
Buildings and improvements \| Minimum
Property, Plant and Equipment
Property, plant and equipment useful life	10 years
Buildings and improvements \| Maximum
Property, Plant and Equipment
Property, plant and equipment useful life	40 years
Machinery and equipment
Property, Plant and Equipment
Total property, plant and equipment	$ 5,324.4	4,871.5
Machinery and equipment \| Minimum
Property, Plant and Equipment
Property, plant and equipment useful life	5 years
Machinery and equipment \| Maximum
Property, Plant and Equipment
Property, plant and equipment useful life	10 years
Construction in progress
Property, Plant and Equipment
Total property, plant and equipment	$ 408.7	$ 378.0

Pension and Other Postretirement Benefit Plans - Pension Plans with Accumulated Benefit Obligations in Excess of Plan Assets (Details) - USD ($) $ in Millions	Dec. 31, 2023	Dec. 31, 2022
Retirement Benefits [Abstract]
Projected benefit obligation	$ 515.2	$ 482.7
Accumulated benefit obligation	505.5	476.0
Fair value of plan assets	$ 368.2	$ 348.6

Restructuring - Segment Location (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Restructuring Cost and Reserve
Total	$ 132.7	$ 154.2	$ 100.9
Operating Segments \| Seating
Restructuring Cost and Reserve
Total	99.5	65.3	45.7
Operating Segments \| E-Systems
Restructuring Cost and Reserve
Total	30.5	82.8	47.7
Other
Restructuring Cost and Reserve
Total	$ 2.7	$ 6.1	$ 7.5

- Definition

Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.

+ References + Details

Financial Instruments - Notional Amount and Estimated Fair Value of Derivative Contracts and Related Classification (Details) - USD ($) $ in Millions	Dec. 31, 2023	Dec. 31, 2022
Derivatives, Fair Value
Total fair value	$ 158.3	$ 67.7
Total notional amount	3,072.2	2,455.5
Foreign currency contracts \| Not designated as Hedging Instrument
Derivatives, Fair Value
Other current assets	5.8	9.5
Other current liabilities	(1.2)	(13.4)
Total fair value	4.6	(3.9)
Total notional amount	$ 569.9	$ 758.6
Foreign currency contracts \| Not designated as Hedging Instrument \| Maximum
Derivatives, Fair Value
Outstanding maturities in months, not to exceed	1 month	7 months
Foreign currency contracts \| Cash Flow Hedging \| Designated as Hedging Instrument
Derivatives, Fair Value
Other current assets	$ 137.2	$ 63.4
Other long-term assets	19.9	10.3
Other current liabilities	(1.8)	(6.7)
Other long-term liabilities	(0.5)	(0.2)
Total fair value	154.8	66.8
Total notional amount	$ 2,352.3	$ 1,546.9
Foreign currency contracts \| Cash Flow Hedging \| Designated as Hedging Instrument \| Maximum
Derivatives, Fair Value
Outstanding maturities in months, not to exceed	24 months	24 months
Cross currency interest rate \| Net investment hedges \| Designated as Hedging Instrument
Derivatives, Fair Value
Other long-term assets	$ 0.0	$ 4.8
Other long-term liabilities	(1.1)	0.0
Total fair value	(1.1)	4.8
Total notional amount	$ 150.0	$ 150.0
Cross currency interest rate \| Net investment hedges \| Designated as Hedging Instrument \| Maximum
Derivatives, Fair Value
Outstanding maturities in months, not to exceed	27 months	39 months

Capital Stock, Accumulated Other Comprehensive Loss and Equity - Quarterly Dividend (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Equity [Abstract]
Dividends declared	$ 184.5	$ 186.2	$ 107.9
Dividends paid	$ 181.9	$ 185.5	$ 106.7

Segment Reporting - Reconciliation of Consolidated Segment Earnings to Consolidated Income Before Provision for Income Taxes (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Segment Reporting, Reconciling Item for Operating Profit (Loss) from Segment to Consolidated
Consolidated income before interest, other expense, provision for income taxes and equity in net income of affiliates	$ 933.2	$ 654.3	$ 675.4
Interest expense, net	101.1	98.6	91.8
Other expense, net	54.9	46.4	0.1
Consolidated income before provision for income taxes and equity in net income of affiliates	777.2	509.3	583.5
Operating Segments
Segment Reporting, Reconciling Item for Operating Profit (Loss) from Segment to Consolidated
Consolidated income before interest, other expense, provision for income taxes and equity in net income of affiliates	1,295.8	967.4	972.5
Other
Segment Reporting, Reconciling Item for Operating Profit (Loss) from Segment to Consolidated
Consolidated income before interest, other expense, provision for income taxes and equity in net income of affiliates	$ (362.6)	$ (313.1)	$ (297.1)

- Definition

Amount of the cost of borrowed funds accounted for as interest expense.

+ References + Details

Consolidated Statements of Income - USD ($) $ in Millions	12 Months Ended
Consolidated Statements of Income - USD ($) $ in Millions	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Income Statement [Abstract]
Net sales	$ 23,466.9	$ 20,891.5	$ 19,263.1
Cost of sales	21,756.5	19,481.6	17,871.2
Selling, general and administrative expenses	714.7	684.8	643.2
Amortization of intangible assets	62.5	70.8	73.3
Interest expense, net	101.1	98.6	91.8
Other expense, net	54.9	46.4	0.1
Consolidated income before provision for income taxes and equity in net income of affiliates	777.2	509.3	583.5
Provision for income taxes	180.8	133.7	137.7
Equity in net income of affiliates	(49.3)	(33.1)	(15.8)
Consolidated net income	645.7	408.7	461.6
Less: Net income attributable to noncontrolling interests	73.2	81.0	87.7
Net income attributable to Lear	$ 572.5	$ 327.7	$ 373.9
Basic net income per share attributable to Lear (in dollars per share)	$ 9.73	$ 5.49	$ 6.22
Diluted net income per share attributable to Lear (in dollars per share)	$ 9.68	$ 5.47	$ 6.19
Average common shares outstanding (in shares)	58,830,334	59,674,488	60,082,833
Average diluted shares outstanding (in shares)	59,116,375	59,920,529	60,420,484

Summary of Significant Accounting Policies - Expected Annual Amortization Expense (Details) $ in Millions	Dec. 31, 2023 USD ($)
Year
2024	$ 49.4
2025	22.4
2026	22.0
2027	21.6
2028	$ 20.6

Summary of Significant Accounting Policies - Summary of Other (Income) Expense, Net (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Accounting Policies [Abstract]
Other expense	$ 83.7	$ 57.2	$ 65.4
Other income	(28.8)	(10.8)	(65.3)
Other expense, net	$ 54.9	$ 46.4	$ 0.1

Schedule II - Valuation And Qualifying Accounts

12 Months Ended

Dec. 31, 2023

SEC Schedule, 12-09, Valuation and Qualifying Accounts [Abstract]

Schedule II - Valuation And Qualifying Accounts

SCHEDULE II – VALUATION AND QUALIFYING ACCOUNTS


	Balance as of Beginning of Period		Additions		Retirements		Other Changes		Balance as of End of Period
For the year ended December 31, 2023
Valuation of accounts deducted from related assets:
Allowance for doubtful accounts	$	35.3	$	7.8	$	(10.0)	$	2.5	$	35.6
Allowance for deferred tax assets	417.9		17.5		(20.8)		14.4		429.0
Total	$	453.2	$	25.3	$	(30.8)	$	16.9	$	464.6


	Balance as of Beginning of Period		Additions		Retirements		Other Changes		Balance as of End of Period
For the year ended December 31, 2022
Valuation of accounts deducted from related assets:
Allowance for doubtful accounts	$	35.5	$	12.0	$	(10.3)	$	(1.9)	$	35.3
Allowance for deferred tax assets	406.9		41.4		(5.3)		(25.1)		417.9
Total	$	442.4	$	53.4	$	(15.6)	$	(27.0)	$	453.2


	Balance as of Beginning of Period		Additions		Retirements		Other Changes		Balance as of End of Period
For the year ended December 31, 2021
Valuation of accounts deducted from related assets:
Allowance for doubtful accounts	$	35.3	$	8.2	$	(8.3)	$	0.3	$	35.5
Allowance for deferred tax assets	397.7		44.7		(17.7)		(17.8)		406.9
Total	$	433.0	$	52.9	$	(26.0)	$	(17.5)	$	442.4

Acquisitions - Purchase Price and Related Allocation (Details) - USD ($) $ in Millions	6 Months Ended		12 Months Ended
	Dec. 31, 2023	Jul. 01, 2023	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Business Acquisition
Goodwill	$ 1,737.9		$ 1,737.9	$ 1,660.6	$ 1,657.9
I.G. Bauerhin
Business Acquisition
Preliminary purchase price, net of acquired cash		$ 174.5	174.5
Property, plant and equipment	47.5	49.7	47.5
Other assets purchased and liabilities assumed, net	38.1	37.9	38.1
Goodwill	73.5	69.9	73.5
Intangible assets	15.4	17.0	15.4
Preliminary purchase price allocation	174.5	$ 174.5	174.5
Adjustments
Preliminary purchase price, net of acquired cash	0.0
Property, plant and equipment	(2.2)
Other assets purchased and liabilities assumed, net	0.2
Goodwill	3.6
Intangible assets	(1.6)
Preliminary purchase price allocation	0.0
Kongsberg Automotives Interior Comfort Division
Business Acquisition
Preliminary purchase price, net of acquired cash			188.3
Property, plant and equipment	124.1		124.1
Other assets purchased and liabilities assumed, net	25.2		25.2
Goodwill	27.9		27.9
Intangible assets	11.1		11.1
Preliminary purchase price allocation	$ 188.3		$ 188.3

Insider Trading Arrangements	3 Months Ended
Insider Trading Arrangements	Dec. 31, 2023
Trading Arrangements, by Individual
Rule 10b5-1 Arrangement Adopted	false
Non-Rule 10b5-1 Arrangement Adopted	false
Rule 10b5-1 Arrangement Terminated	false
Non-Rule 10b5-1 Arrangement Terminated	false

Segment Reporting - Revenue from External Customers and Tangible Long-lived Assets by Geographic Area (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Revenues from External Customers and Long-Lived Assets
Revenues from external customers	$ 23,466.9	$ 20,891.5	$ 19,263.1
Tangible long-lived assets	3,710.9	3,555.8
United States
Revenues from External Customers and Long-Lived Assets
Revenues from external customers	4,863.8	4,751.6	4,410.7
Tangible long-lived assets	730.6	688.3
Mexico
Revenues from External Customers and Long-Lived Assets
Revenues from external customers	3,434.4	3,182.7	2,465.8
Tangible long-lived assets	740.5	735.5
China
Revenues from External Customers and Long-Lived Assets
Revenues from external customers	3,044.9	2,976.1	3,018.1
Tangible long-lived assets	457.0	463.8
Germany
Revenues from External Customers and Long-Lived Assets
Revenues from external customers	1,402.2	1,211.0	1,309.9
Tangible long-lived assets	200.3	186.8
Other countries
Revenues from External Customers and Long-Lived Assets
Revenues from external customers	10,721.6	8,770.1	$ 8,058.6
Tangible long-lived assets	$ 1,582.5	$ 1,481.4

- Definition

+ References

+ Details

Investments in Affiliates and Other Related Party Transactions (Tables)

12 Months Ended

Dec. 31, 2023

Equity Method Investments and Joint Ventures [Abstract]

Beneficial Ownership, Summarized Financial Information, and Amounts Recorded in Consolidated Balance Sheet for Affiliates

The Company's beneficial ownership in affiliates accounted for under the equity method is shown below:


December 31,	2023	2022	2021
Beijing BHAP Lear Automotive Systems Co., Ltd. (China)	50%	50%	50%
Guangzhou Lear Automotive Components Co., Ltd. (China)	50	50	50
Jiangxi Jiangling Lear Interior Systems Co., Ltd. (China)	50	50	50
Lear Dongfeng Automotive Seating Co., Ltd. (China)	50	50	50
Beijing Lear Hyundai Transys Co., Ltd. (China)	50	50	40
Changchun Lear FAWSN Automotive Seat Systems Co., Ltd. (China)	49	49	49
Honduras Electrical Distribution Systems S. de R.L. de C.V. (Honduras)	49	49	49
Kyungshin-Lear Sales and Engineering LLC	49	49	49
Shenyang Jinbei Lear Automotive Seating Co. Ltd. (China)	49	49	49
Shenzhen Shinry Lear Electric Control Technology Co., Ltd. (China)	49	49	—
Hyundai Transys Lear Automotive Private Limited (India)	35	35	35
Techstars Corporate Partner 2017 LLC	34	34	34
RevoLaze, LLC	20	20	20
Maniv Mobility II A, L.P.	7	7	7
Trucks Venture Fund 2, L.P.	7	7	5
Autotech Fund II, L.P.	3	3	4


December 31,	2023		2022
Balance sheet data:
Current assets	$	1,545.7	$	1,335.9
Non-current assets	240.2		235.0
Current liabilities	1,165.6		1,009.2
Non-current liabilities	20.2		8.4


For the year ended December 31,	2023		2022		2021
Income statement data:
Net sales	$	2,676.9	$	2,447.6	$	1,833.6
Gross profit	149.7		106.1		50.1
Income before provision for income taxes	116.7		102.8		104.5
Net income attributable to affiliates	82.2		64.4		80.5

A summary of amounts recorded in the Company's consolidated balance sheets related to its affiliates is shown below (in millions):


December 31,	2023		2022
Aggregate investment in affiliates	$	217.1	$	196.7
Receivables due from affiliates (including notes and advances)	170.7		182.5
Payables due to affiliates	0.5		0.7

Summary of Transaction With Affiliates and Other Related Parties

A summary of transactions with affiliates accounted for under the equity method and other related parties is shown below (in millions):


For the year ended December 31,	2023		2022		2021
Sales to affiliates	$	654.6	$	783.0	$	676.6
Purchases from affiliates	2.1		9.0		4.4
Management and other fees for services provided to affiliates	32.7		32.6		38.5
Dividends received from affiliates	21.7		21.1		26.8

Acquisitions (Tables)

12 Months Ended

Dec. 31, 2023

Business Combination and Asset Acquisition [Abstract]

Purchase Price and Related Allocation

The preliminary purchase price and related allocation are shown below (in millions):


	July 1, 2023		Adjustments		December 31, 2023
Preliminary purchase price, net of acquired cash	$	174.5	$	—	$	174.5

Property, plant and equipment	49.7		(2.2)		47.5
Other assets purchased and liabilities assumed, net	37.9		0.2		38.1
Goodwill	69.9		3.6		73.5
Intangible assets	17.0		(1.6)		15.4
Preliminary purchase price allocation	$	174.5	$	—	$	174.5

The final purchase price and related allocation are shown below (in millions):


	December 31, 2023
Purchase price, net of acquired cash	$	188.3

Property, plant and equipment	124.1
Other assets purchased and liabilities assumed, net	25.2
Goodwill	27.9
Intangible assets	11.1
Purchase price allocation	$	188.3

Capital Stock, Accumulated Other Comprehensive Loss and Equity (Tables)

12 Months Ended

Dec. 31, 2023

Equity [Abstract]

Schedule of Share Repurchases

Share repurchases are shown below (in millions, except for shares and per share amounts):


For the year ended December 31,	Aggregate Repurchases		Cash paid for Repurchases		Number of Shares	Average Price per Share (1)
2023	$	313.1	$	296.5	2,281,723	$	137.21
2022	$	100.3	$	100.3	763,309	$	131.37
2021	$	100.3	$	100.3	589,717	$	170.03

(1) Excludes commissions.

Dividends Declared and Paid

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


For the year ended December 31,	2023		2022		2021
Dividends declared	$	184.5	$	186.2	$	107.9
Dividends paid	$	181.9	$	185.5	$	106.7

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

A summary of changes in accumulated other comprehensive loss, net of tax, is shown below (in millions):


For the year ended December 31,	2023		2022		2021
Defined benefit plans:
Balance at beginning of year	$	(95.7)	$	(199.4)	$	(276.9)
Reclassification adjustments (net of tax benefit (expense) of $0.2 million in 2023, ($1.0) million in 2022 and ($2.1) million in 2021)	(1.0)		4.0		7.1
Other comprehensive income (loss) recognized during the period (net of tax benefit (expense) of $2.0 million in 2023, ($23.9) million in 2022 and ($20.6) million in 2021)	(10.6)		99.7		70.4
Balance at end of year	$	(107.3)	$	(95.7)	$	(199.4)
Derivative instruments and hedge activities:
Balance at beginning of year	$	33.4	$	(18.6)	$	12.6
Reclassification adjustments (net of tax benefit of $35.1 million in 2023, $8.5 million in 2022 and $8.7 million in 2021)	(141.3)		(35.3)		(36.0)
Other comprehensive income recognized during the period (net of tax expense of $51.0 million in 2023, $19.1 million in 2022 and $1.2 million in 2021)	215.8		87.3		4.8
Balance at end of year	$	107.9	$	33.4	$	(18.6)
Currency translation adjustments:
Balance at beginning of year	$	(742.8)	$	(552.2)	$	(440.8)
Other comprehensive income (loss) recognized during the period (net of tax benefit (expense) of $1.2 million in 2023, ($4.7) million in 2022 and ($4.1) million in 2021)	53.4		(190.6)		(111.4)
Balance at end of year	$	(689.4)	$	(742.8)	$	(552.2)

Pension and Other Postretirement Benefit Plans

12 Months Ended

Dec. 31, 2023

Retirement Benefits [Abstract]

Pension and Other Postretirement Benefit Plans

The Company has noncontributory defined benefit pension plans covering certain domestic employees and certain employees in foreign countries, principally Canada.

Obligation

A reconciliation of the change in benefit obligation for the years ended December 31, 2023 and 2022, is shown below (in millions):


	Pension								Other Postretirement
	December 31, 2023				December 31, 2022				December 31, 2023				December 31, 2022
	U.S.		Foreign		U.S.		Foreign		U.S.		Foreign		U.S.		Foreign
Change in benefit obligation:
Benefit obligation at beginning of period	$	387.9	$	339.5	$	536.5	$	479.9	$	29.1	$	17.6	$	56.0	$	24.5
Service cost	—		3.4		—		4.2		—		—		—		—
Interest cost	20.7		16.7		15.5		11.2		1.5		0.9		1.5		0.7

Actuarial (gains) losses	18.5		26.5		(142.3)		(98.3)		0.7		(1.8)		(25.8)		(4.8)
Benefits paid	(21.8)		(21.8)		(21.8)		(22.9)		(2.2)		(1.4)		(2.6)		(1.2)


Translation adjustment	—		9.5		—		(34.6)		—		0.4		—		(1.6)
Benefit obligation at end of period	$	405.3	$	373.8	$	387.9	$	339.5	$	29.1	$	15.7	$	29.1	$	17.6

Actuarial gains

As of December 31, 2023, the increase in pension and U.S. other postretirement benefit obligations attributable to actuarial losses primarily relates to a decrease in the discount rate used to determine the benefit obligations. As of December 31, 2023, the decrease in the foreign other postretirement obligation attributable to actuarial gains relates primarily to demographic and claims cost updates. As of December 31, 2022, the decrease in the pension and other postretirement benefit obligations attributable to actuarial gains primarily relates to an increase in the discount rate used to determine the benefit obligations (see assumptions below).

Plan Assets and Funded Status

A reconciliation of the change in plan assets for the years ended December 31, 2023 and 2022, and the funded status as of December 31, 2023 and 2022, is shown below (in millions):


	Pension								Other Postretirement
	December 31, 2023				December 31, 2022				December 31, 2023				December 31, 2022
	U.S.		Foreign		U.S.		Foreign		U.S.		Foreign		U.S.		Foreign
Change in plan assets:
Fair value of plan assets at beginning of period	$	348.5	$	307.0	$	444.2	$	392.5	$	—	$	—	$	—	$	—
Actual return on plan assets	38.5		31.4		(77.1)		(41.0)		—		—		—		—
Employer contributions	3.0		5.3		3.2		6.1		2.2		1.4		2.6		1.2
Benefits paid	(21.8)		(21.8)		(21.8)		(22.9)		(2.2)		(1.4)		(2.6)		(1.2)

Translation adjustment	—		9.1		—		(27.7)		—		—		—		—
Fair value of plan assets at end of period	368.2		331.0		348.5		307.0		—		—		—		—

Funded status	$	(37.1)	$	(42.8)	$	(39.4)	$	(32.5)	$	(29.1)	$	(15.7)	$	(29.1)	$	(17.6)

A summary of amounts recognized in the consolidated balance sheets as of December 31, 2023 and 2022, is shown below (in millions):


	Pension								Other Postretirement
	December 31, 2023				December 31, 2022				December 31, 2023				December 31, 2022
	U.S.		Foreign		U.S.		Foreign		U.S.		Foreign		U.S.		Foreign
Amounts recognized in the consolidated balance sheet:
Other long-term assets	$	0.5	$	67.1	$	—	$	62.3	$	—	$	—	$	—	$	—
Accrued liabilities	(2.1)		(3.5)		(2.9)		(3.4)		(2.6)		(1.3)		(2.6)		(1.4)
Other long-term liabilities	(35.5)		(106.4)		(36.5)		(91.4)		(26.5)		(14.4)		(26.5)		(16.2)

Funded status	$	(37.1)	$	(42.8)	$	(39.4)	$	(32.5)	$	(29.1)	$	(15.7)	$	(29.1)	$	(17.6)

Accumulated Benefit Obligation

As of December 31, 2023 and 2022, the accumulated benefit obligation for all of the Company's pension plans was $769.3 million and $720.5 million, respectively.


December 31,	2023		2022
Projected benefit obligation	$	515.2	$	482.7
Accumulated benefit obligation	505.5		476.0
Fair value of plan assets	368.2		348.6

Other Comprehensive Income (Loss) and Accumulated Other Comprehensive Loss ("AOCL")

Pretax amounts recognized in other comprehensive income (loss) ("OCIL") for the years ended December 31, 2023 and 2022, is shown below (in millions):


	Pension								Other Postretirement
	December 31, 2023				December 31, 2022				December 31, 2023				December 31, 2022
	U.S.		Foreign		U.S.		Foreign		U.S.		Foreign		U.S.		Foreign
Unrecognized amounts in AOCL at beginning of period	$	(58.9)	$	(61.2)	$	(102.6)	$	(114.6)	$	39.2	$	4.2	$	14.7	$	(0.5)
Actuarial gains (losses) recognized:
Reclassification adjustments	1.0		1.9		2.0		4.1		(3.3)		(0.2)		(1.2)		—
Actuarial gains (losses) arising during the period	(0.3)		(11.0)		41.3		42.2		(0.7)		1.8		25.8		4.8

Effect of settlements	(0.1)		(0.4)		0.4		(0.2)		—		—		—		—
Prior service credit recognized:
Reclassification adjustments	—		—		—		—		(0.1)		—		(0.1)		—

Translation adjustment	—		(1.4)		—		7.3		—		0.1		—		(0.1)
Amounts recognized in OCIL during the period	0.6		(10.9)		43.7		53.4		(4.1)		1.7		24.5		4.7
Unrecognized amounts in AOCL at end of period	$	(58.3)	$	(72.1)	$	(58.9)	$	(61.2)	$	35.1	$	5.9	$	39.2	$	4.2

Pretax amounts recorded in accumulated other comprehensive loss not yet recognized in net periodic benefit cost (credit) as of December 31, 2023 and 2022, are shown below (in millions):


	Pension								Other Postretirement
	December 31, 2023				December 31, 2022				December 31, 2023				December 31, 2022
	U.S.		Foreign		U.S.		Foreign		U.S.		Foreign		U.S.		Foreign
Net unrecognized actuarial gains (losses)	$	(58.3)	$	(71.6)	$	(58.9)	$	(60.7)	$	34.2	$	5.8	$	38.2	$	4.1
Prior service credit (cost)	—		(0.5)		—		(0.5)		0.9		0.1		1.0		0.1
Unrecognized amounts in AOCL at end of period	$	(58.3)	$	(72.1)	$	(58.9)	$	(61.2)	$	35.1	$	5.9	$	39.2	$	4.2

In addition, the Company recognized tax benefit (expense) in other comprehensive income (loss) related to its defined benefit plans of $2.2 million, ($24.9) million and ($22.7) million for the years ended December 31, 2023, 2022 and 2021, respectively.

Net Periodic Pension and Other Postretirement Benefit Cost (Credit)

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


	Year Ended December 31,
	2023				2022				2021
Pension	U.S.		Foreign		U.S.		Foreign		U.S.		Foreign
Service cost	$	—	$	3.4	$	—	$	4.2	$	—	$	5.3
Interest cost	20.7		16.7		15.5		11.2		14.5		10.5
Expected return on plan assets	(20.3)		(16.2)		(23.9)		(17.2)		(23.5)		(19.6)
Amortization of actuarial loss	1.0		1.9		2.0		4.1		3.9		6.1


Settlement (gains) losses	(0.1)		(0.4)		0.4		(0.2)		0.4		—
Net periodic benefit cost (credit)	$	1.3	$	5.4	$	(6.0)	$	2.1	$	(4.7)	$	2.3

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


	Year Ended December 31,
	2023				2022				2021
Other Postretirement	U.S.		Foreign		U.S.		Foreign		U.S.		Foreign

Interest cost	$	1.5	$	0.9	$	1.5	$	0.7	$	1.4	$	0.7
Amortization of actuarial gains	(3.3)		(0.2)		(1.2)		—		(1.1)		—
Amortization of prior service credit	(0.1)		—		(0.1)		—		(0.1)		—


Net periodic benefit cost (credit)	$	(1.9)	$	0.7	$	0.2	$	0.7	$	0.2	$	0.7

Assumptions

The weighted average actuarial assumptions used in determining the benefit obligations are shown below:


	Pension		Other Postretirement
December 31,	2023	2022	2023	2022
Discount rate:
Domestic plans	5.2%	5.5%	5.1%	5.5%
Foreign plans	4.4%	5.0%	4.6%	5.3%
Rate of compensation increase:
Foreign plans	2.6%	2.5%	N/A	N/A

The weighted average actuarial assumptions used in determining the net periodic benefit cost (credit) are shown below:


For the year ended December 31,	2023		2022		2021
Pension
Discount rate:
Domestic plans	5.5	%	3.0	%	2.6	%
Foreign plans	5.0	%	2.5	%	2.0	%
Expected return on plan assets:
Domestic plans	6.0	%	5.5	%	5.8	%
Foreign plans	5.4	%	4.6	%	5.2	%
Rate of compensation increase:
Foreign plans	2.5	%	3.5	%	3.3	%
Other postretirement
Discount rate:
Domestic plans	5.5	%	2.8	%	2.4	%
Foreign plans	5.3	%	3.1	%	2.5	%

The expected return on plan assets is determined based on several factors, including adjusted historical returns, historical risk premiums for various asset classes and target asset allocations within the portfolio. Adjustments made to the historical returns are based on recent return experience in the equity and fixed income markets and the belief that deviations from historical returns are likely over the relevant investment horizon.

As of December 31, 2023 and 2022, the weighted-average interest crediting rate used by one of the Company's U.S. pension plans was a minimum of 4.7%.

Healthcare Trend Rate

The assumed healthcare cost trend rates used to measure the postretirement benefit obligation as of December 31, 2023, are shown below:


	U.S. Plans	Foreign Plans
Initial healthcare cost trend rate	6.3%	4.9%
Ultimate healthcare cost trend rate	4.5%	4.0%
Year ultimate healthcare cost trend rate achieved	2030	2040

Plan Assets


	December 31, 2023
	Total		Level 1		Level 2		Level 3		Valuation Technique
U.S. Plans:
Equity securities -
Equity funds	$	58.7	$	46.6	$	12.1	$	—	Market
Common stock	50.3		44.9		5.4		—		Market
Fixed income -
Fixed income funds	74.7		74.7		—		—		Market
Corporate bonds	95.4		—		95.4		—		Market
Government obligations	18.6		—		18.6		—		Market
Cash and short-term investments	8.3		6.8		1.5		—		Market
Assets at fair value	306.0		$	173.0	$	133.0	$	—
Investments measured at net asset value -
Alternative investments	62.2
Assets at fair value	$	368.2
Foreign Plans:
Equity securities -
Equity funds	$	30.4	$	—	$	30.4	$	—	Market
Common stock	18.4		18.4		—		—		Market
Fixed income -
Fixed income funds	49.5		—		49.5		—		Market
Corporate bonds	23.9		—		23.9		—		Market
Government obligations	175.7		—		175.7		—		Market

Cash and short-term investments	13.5		9.3		4.2		—		Market
Assets at fair value	311.4		$	27.7	$	283.7	$	—
Investments measured at net asset value -
Alternative investments	19.6
Assets at fair value	$	331.0


	December 31, 2022
	Total		Level 1		Level 2		Level 3		Valuation Technique
U.S. Plans:
Equity securities -
Equity funds	$	65.2	$	52.1	$	13.1	$	—	Market
Common stock	54.9		39.8		15.1		—		Market
Fixed income -
Fixed income funds	79.1		79.1		—		—		Market
Corporate bonds	63.4		—		63.4		—		Market
Government obligations	9.7		—		9.7		—		Market
Preferred stock	0.2		0.2		—		—		Market
Cash and short-term investments	13.4		2.8		10.6		—		Market
Assets at fair value	285.9		$	174.0	$	111.9	$	—
Investments measured at net asset value -
Alternative investments	62.6
Assets at fair value	$	348.5
Foreign Plans:
Equity securities -
Equity funds	$	55.2	$	—	$	55.2	$	—	Market
Common stock	32.9		32.9		—		—		Market
Fixed income -
Fixed income funds	43.4		—		43.4		—		Market
Corporate bonds	15.9		—		15.9		—		Market
Government obligations	113.2		—		113.2		—		Market

Cash and short-term investments	13.3		3.2		10.1		—		Market
Assets at fair value	273.9		$	36.1	$	237.8	$	—
Investments measured at net asset value -
Alternative investments	33.1
Assets at fair value	$	307.0

For further information on the GAAP fair value hierarchy, see Note 16, "Financial Instruments." Pension plan assets for the foreign plans relate to the Company's pension plans primarily in Canada and the United Kingdom.

The Company's investment policies incorporate an asset allocation strategy that emphasizes the long-term growth of capital. The Company believes that this strategy is consistent with the long-term nature of plan liabilities and ultimate cash needs of the plans. For the domestic portfolio, the Company targets a return seeking asset (e.g., equity securities, equity mutual funds, exchange traded funds ("ETFs") and alternative investments) allocation of 40% — 60% and a risk mitigating asset (e.g., fixed income securities, fixed income mutual funds and ETFs) allocation of 40% — 60%. As the funding ratio for the defined benefit pension plans covering certain domestic employees changes, the proportion of return seeking assets will be adjusted accordingly. For the foreign portfolio, the Company targets an equity allocation of 0% — 35% of plan assets, a fixed income allocation of 65% — 100%, an alternative investment allocation of 0% — 10% and a cash allocation of 0% — 10%. Differences in the target allocations of the domestic and foreign portfolios are reflective of differences in the underlying plan liabilities. Diversification within the investment portfolios is pursued by asset class and investment management style. The investment portfolios are reviewed on a quarterly basis to maintain the desired asset allocations, given the market performance of the asset classes and investment management styles. Alternative investments are redeemable in the near term, generally with 90 days' notice.

The Company utilizes investment management firms to manage these assets in accordance with the Company's investment policies. Excluding alternative investments, mutual funds and ETFs, retained investment managers are provided investment guidelines, which restrict the use of certain assets, including commodities contracts, futures contracts, options, venture capital, real estate, interest-only or principal-only strips and investments in the Company's own debt or equity. Derivative instruments

are also prohibited without the specific approval of the Company. Investment managers are limited in the maximum size of individual security holdings and the maximum exposure to any one industry relative to the total portfolio. Fixed income managers are provided further investment guidelines that indicate minimum credit ratings for debt securities and limitations on weighted average maturity and portfolio duration.

The Company evaluates investment manager performance against market indices which the Company believes are appropriate to the investment management style for which the investment manager has been retained. The Company's investment policies incorporate an investment goal of aggregate portfolio returns which exceed the returns of the appropriate market indices by a reasonable spread over the relevant investment horizon.

Contributions

In 2024, the Company's minimum required contributions to its domestic and foreign pension plans are expected to be approximately $2 million. The Company may elect to make contributions in excess of minimum funding requirements in response to investment performance or changes in interest rates or when the Company believes that it is financially advantageous to do so and based on its other cash requirements. After 2024, the Company's minimum funding requirements will depend on several factors, including investment performance and interest rates. The Company's minimum funding requirements may also be affected by changes in applicable legal requirements.

Benefit Payments

As of December 31, 2023, the Company's estimate of expected benefit payments in each of the five succeeding years and in the aggregate for the five years thereafter are shown below (in millions):


	Pension				Other Postretirement
Year	U.S.		Foreign		U.S.		Foreign
2024	$	22.8	$	23.6	$	2.7	$	1.3
2025	23.7		22.9		2.6		1.3
2026	25.0		23.1		2.6		1.2
2027	25.0		24.2		2.5		1.2
2028	25.8		25.5		2.5		1.2
Five years thereafter	137.7		126.0		10.9		5.3

Multi-Employer Pension Plans

The Company currently participates in two multi-employer pension plans, the U.A.W. Labor-Management Group Pension Plan (EIN 51-6099782-001) and UNITE Here National Retirement Fund (EIN 13-6130178-001), for certain of its employees. Contributions to these plans are based on four collective bargaining agreements, which expire between July 21, 2024 and June 30, 2027.

Detailed information related to these plans is shown below (amounts in millions):

Pension Protection Act
Zone Status

Contributions to Multiemployer Pension Plans

Employer Identification Number ("EIN")

December 31,

2022

Certification

December 31,

2021

Certification

FIP/RP (1)

Pending or

Implemented

Surcharge

Year Ended December 31, 2023

Year Ended December 31, 2022

Year Ended December 31, 2021

51-6099782-001

Green

Yes

0.8

0.7

13-6130178-001

Red

Yes

0.4

(1) Funding improvement plan or rehabilitation plan as defined by Employment Retirement Security Act of 1974.

For its plan years 2023 and 2022, the Company's contributions to the U.A.W. Labor-Management Group Pension Plan represented more than 5% of the plan's total contributions.

Defined Contribution Plan

The Company also sponsors defined contribution plans and participates in government-sponsored programs in certain foreign countries. Contributions are determined as a percentage of each covered employee's salary. For the years ended December 31, 2023, 2022 and 2021, the aggregate cost of the defined contribution plans was $19.7 million, $18.2 million and $16.4 million, respectively.

The Company also has a defined contribution retirement program for its salaried employees. Contributions to this program are determined as a percentage of each covered employee's eligible compensation. For the years ended December 31, 2023, 2022 and 2021, the Company recorded expense of $27.6 million, $23.5 million and $20.4 million, respectively, related to this program.

- Definition

The entire disclosure for retirement benefits.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 715
-SubTopic 70
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480794/715-70-50-1

Reference 2: http://www.xbrl.org/2003/role/exampleRef
-Topic 715
-SubTopic 20
-Name Accounting Standards Codification
-Section 55
-Paragraph 17
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480482/715-20-55-17

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Topic 715
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (d)(iv)(03)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480506/715-20-50-1

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Topic 715
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (d)(i)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480506/715-20-50-1

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Topic 715
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (q)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480506/715-20-50-1

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Topic 715
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (l)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480506/715-20-50-1

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Topic 715
-Name Accounting Standards Codification
-Publisher FASB
-URI https://asc.fasb.org//715/tableOfContent

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Topic 715
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (d)(iii)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480506/715-20-50-1

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Topic 715
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (o)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480506/715-20-50-1

Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Topic 715
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (p)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480506/715-20-50-1

Reference 11: http://www.xbrl.org/2003/role/disclosureRef
-Topic 715
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (r)(1)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480506/715-20-50-1

Reference 12: http://www.xbrl.org/2003/role/disclosureRef
-Topic 715
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (r)(2)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480506/715-20-50-1

Reference 13: http://www.xbrl.org/2003/role/disclosureRef
-Topic 715
-SubTopic 20
-Name Accounting Standards Codification
-Section S99
-Paragraph 2
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480126/715-20-S99-2

Reference 14: http://www.xbrl.org/2003/role/disclosureRef
-Topic 715
-SubTopic 60
-Name Accounting Standards Codification
-Section 50
-Paragraph 3
-Subparagraph (c)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480266/715-60-50-3

+ Details

Debt - 2032 Notes and 2052 Notes (Details) - USD ($)	1 Months Ended	12 Months Ended
Debt - 2032 Notes and 2052 Notes (Details) - USD ($)	Nov. 30, 2021	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2017
Debt Instrument
Payments of related issuance costs	$ 2,800,000	$ 1,200,000	$ 0	$ 9,900,000
Term Loan Facility
Debt Instrument
Repayments of debt				206,300,000
Senior Notes
Debt Instrument
Proceeds from offering				698,700,000	$ 669,100,000	$ 693,300,000
Payments of related issuance costs				7,100,000
2032 Notes \| Senior Notes
Debt Instrument
Aggregate principal amount				$ 350,000,000
Stated interest rate		2.60%		2.60%
Stated coupon rate				99.782%
Yield to maturity			2.624%	2.624%
2032 Notes \| Senior Notes \| Prior to October 15, 2031
Debt Instrument
Stated coupon rate				100.00%
2032 Notes \| Senior Notes \| On or after October 15, 2031
Debt Instrument
Stated coupon rate				100.00%
2032 Notes \| Senior Notes \| On or after October 15, 2031 \| Minimum
Debt Instrument
Redemption price, notice period				15 days
2032 Notes \| Senior Notes \| On or after October 15, 2031 \| Maximum
Debt Instrument
Redemption price, notice period				60 days
3.55% Senior Notes due 2052 (the "2052 Notes") \| Senior Notes
Debt Instrument
Aggregate principal amount				$ 350,000,000
Stated interest rate		3.55%		3.55%
Stated coupon rate				99.845%
Yield to maturity			3.558%	3.558%
3.55% Senior Notes due 2052 (the "2052 Notes") \| Senior Notes \| Prior to July 15, 2051
Debt Instrument
Stated coupon rate				100.00%
3.55% Senior Notes due 2052 (the "2052 Notes") \| Senior Notes \| On or after July 15, 2051
Debt Instrument
Stated coupon rate				100.00%
3.55% Senior Notes due 2052 (the "2052 Notes") \| Senior Notes \| On or after July 15, 2051 \| Minimum
Debt Instrument
Redemption price, notice period				15 days
3.55% Senior Notes due 2052 (the "2052 Notes") \| Senior Notes \| On or after July 15, 2051 \| Maximum
Debt Instrument
Redemption price, notice period				60 days
3.8% Senior Notes due 2027 (the "2027 Notes") \| Senior Notes
Debt Instrument
Aggregate principal amount	200,000,000						$ 750,000,000
Stated interest rate		3.80%					3.80%
Stated coupon rate							99.294%
Yield to maturity			3.885%				3.885%
Payments of related issuance costs	$ 500,000
Credit Agreement — Revolving Credit Facility \| Credit Agreement \| Term Loan Facility
Debt Instrument
Aggregate principal amount							$ 250,000,000

Consolidated Balance Sheets - USD ($) $ in Millions	Dec. 31, 2023	Dec. 31, 2022
Current Assets:
Cash and cash equivalents	$ 1,196.3	$ 1,114.9
Accounts receivable	3,681.2	3,451.9
Inventories	1,758.0	1,573.6
Other	1,001.4	853.7
Total current assets	7,636.9	6,994.1
Long-Term Assets:
Property, plant and equipment, net	2,977.4	2,854.0
Goodwill	1,737.9	1,660.6
Other	2,343.3	2,254.3
Total long-term assets	7,058.6	6,768.9
Total assets	14,695.5	13,763.0
Current Liabilities:
Short-term borrowings	27.5	9.9
Accounts payable and drafts	3,434.2	3,206.1
Accrued liabilities	2,205.2	1,961.5
Current portion of long-term debt	0.3	10.8
Total current liabilities	5,667.2	5,188.3
Long-Term Liabilities:
Long-term debt	2,742.6	2,591.2
Other	1,225.1	1,153.2
Total long-term liabilities	3,967.7	3,744.4
Equity:
Preferred stock, 100,000,000 shares authorized (including 10,896,250 shares of Series A convertible preferred stock authorized); no shares outstanding	0.0	0.0
Common stock, $0.01 par value, 300,000,000 shares authorized; 64,571,405 shares issued as of December 31, 2023 and 2022	0.6	0.6
Additional paid-in capital	1,050.5	1,023.1
Common stock held in treasury, 7,592,473 and 5,493,211 shares as of December 31, 2023 and 2022, respectively, at cost	(1,044.6)	(753.9)
Retained earnings	5,601.1	5,214.1
Accumulated other comprehensive loss	(688.8)	(805.1)
Lear Corporation stockholders' equity	4,918.8	4,678.8
Noncontrolling interests	141.8	151.5
Equity	5,060.6	4,830.3
Total liabilities and equity	$ 14,695.5	$ 13,763.0

Capital Stock, Accumulated Other Comprehensive Loss and Equity - Schedule of Share Repurchases (Details) - USD ($) $ / shares in Units, $ in Millions	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Equity [Abstract]
Aggregate Repurchases	$ 313.1	$ 100.3	$ 100.3
Cash paid for Repurchases	$ 296.5	$ 100.3	$ 100.3
Shares acquired (in shares)	2,281,723	763,309	589,717
Average Price per Share (in dollars per share)	$ 137.21	$ 131.37	$ 170.03

Debt - 2029 and 2049 Notes Issued in 2019 (Details) - USD ($)	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2023	Dec. 31, 2022
Debt Instrument
Long-term debt, gross				$ 2,750,000,000	$ 2,600,000,000
Senior Notes
Debt Instrument
Proceeds from offering	$ 698,700,000	$ 669,100,000	$ 693,300,000
Senior Notes \| 2029 Notes
Debt Instrument
Aggregate principal amount			$ 375,000,000
Stated interest rate			4.25%	4.25%
Stated coupon rate			99.691%
Yield to maturity			4.288%		4.288%
Long-term debt, gross				$ 375,000,000.0	$ 375,000,000.0
Senior Notes \| 2029 Notes \| Prior to February 15, 2029
Debt Instrument
Stated coupon rate			100.00%
Senior Notes \| 2029 Notes \| On or after February 15, 2029
Debt Instrument
Stated coupon rate			100.00%
Senior Notes \| 2029 Notes \| On or after February 15, 2029 \| Minimum
Debt Instrument
Redemption price, notice period			15 days
Senior Notes \| 2029 Notes \| On or after February 15, 2029 \| Maximum
Debt Instrument
Redemption price, notice period			60 days
Senior Notes \| 2049 Notes
Debt Instrument
Aggregate principal amount			$ 325,000,000
Stated interest rate			5.25%	5.25%
Stated coupon rate			98.32%
Yield to maturity			5.363%		5.103%
Long-term debt, gross				$ 625,000,000.0	$ 625,000,000.0
Senior Notes \| 2049 Notes \| Prior to November 15, 2048
Debt Instrument
Stated coupon rate			100.00%
Senior Notes \| 2049 Notes \| On or after November 15, 2048
Debt Instrument
Stated coupon rate			100.00%
Senior Notes \| 2049 Notes \| On or after November 15, 2048 \| Minimum
Debt Instrument
Redemption price, notice period			15 days
Senior Notes \| 2049 Notes \| On or after November 15, 2048 \| Maximum
Debt Instrument
Redemption price, notice period			60 days
Senior Notes \| 2024 Notes
Debt Instrument
Stated interest rate			5.375%
Stated coupon rate			102.688%
Long-term debt, gross			$ 325,000,000

Segment Reporting (Tables)

12 Months Ended

Dec. 31, 2023

Segment Reporting [Abstract]

Summary of Segment Financial Information

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


	Year Ended December 31, 2023
	Seating		E-Systems		Other		Consolidated
Revenues from external customers	$	17,548.8	$	5,918.1	$	—	$	23,466.9
Segment earnings (1)	1,066.9		228.9		(362.6)		933.2
Depreciation and amortization	394.4		189.3		20.7		604.4
Capital expenditures	344.6		261.3		20.6		626.5
Total assets	8,371.2		4,046.5		2,277.8		14,695.5


	Year Ended December 31, 2022
	Seating		E-Systems		Other		Consolidated
Revenues from external customers	$	15,711.2	$	5,180.3	$	—	$	20,891.5
Segment earnings (1)	893.0		74.4		(313.1)		654.3
Depreciation and amortization	369.5		188.2		18.8		576.5
Capital expenditures	369.4		241.3		27.5		638.2
Total assets	7,897.4		3,684.7		2,180.9		13,763.0


	Year Ended December 31, 2021
	Seating		E-Systems		Other		Consolidated
Revenues from external customers	$	14,411.4	$	4,851.7	$	—	$	19,263.1
Segment earnings (1)	851.3		121.2		(297.1)		675.4
Depreciation and amortization	362.6		195.7		15.6		573.9
Capital expenditures	340.7		217.2		27.2		585.1

(1) For a definition of segment earnings, see Note 3 , "Summary of Significant Accounting Policies — Segment Reporting."

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

A reconciliation of segment earnings to consolidated income before provision for income taxes and equity in net income of affiliates is shown below (in millions):


For the year ended December 31,	2023		2022		2021
Segment earnings	$	1,295.8	$	967.4	$	972.5
Corporate and regional headquarters and elimination of intercompany activity ("Other")	(362.6)		(313.1)		(297.1)
Consolidated income before interest, other expense, provision for income taxes and equity in net income of affiliates	933.2		654.3		675.4
Interest expense, net	101.1		98.6		91.8
Other expense, net	54.9		46.4		0.1
Consolidated income before provision for income taxes and equity in net income of affiliates	$	777.2	$	509.3	$	583.5

Revenues From External Customers and Tangible Long-lived Assets by Geographic Area

Revenues from external customers and tangible long-lived assets for each of the geographic areas in which the Company operates is shown below (in millions):


For the year ended December 31,	2023		2022		2021
Revenues from external customers
United States	$	4,863.8	$	4,751.6	$	4,410.7
Mexico	3,434.4		3,182.7		2,465.8
China	3,044.9		2,976.1		3,018.1
Germany	1,402.2		1,211.0		1,309.9
Other countries	10,721.6		8,770.1		8,058.6
Total	$	23,466.9	$	20,891.5	$	19,263.1


December 31,	2023		2022
Tangible long-lived assets (1)
United States	$	730.6	$	688.3
Mexico	740.5		735.5
China	457.0		463.8
Germany	200.3		186.8
Other countries	1,582.5		1,481.4
Total	$	3,710.9	$	3,555.8

(1) Tangible long-lived assets include property, plant and equipment and right-of-use assets.

Summary of Percentage of Revenues from Major Customers

A summary of revenues from major customers is shown below:


For the year ended December 31,	2023	2022	2021
General Motors	19.8%	20.2%	18.2%
Ford	11.4%	13.5%	13.5%
Volkswagen	11.0%	10.8%	11.8%
Mercedes-Benz	10.4%	11.3%	11.2%
Stellantis	10.2%	10.3%	10.9%

Pension and Other Postretirement Benefit Plans - Amounts Recorded in Accumulated Other Comprehensive Loss Not Yet Recognized in Net Periodic Benefit Cost (Credit) (Details) - USD ($) $ in Millions	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Pension \| U.S.
Defined Benefit Plan Disclosure
Net unrecognized actuarial gains (losses)	$ (58.3)	$ (58.9)
Prior service credit (cost)	0.0	0.0
Unrecognized amounts in AOCL at end of period	(58.3)	(58.9)	$ (102.6)
Pension \| Foreign
Defined Benefit Plan Disclosure
Net unrecognized actuarial gains (losses)	(71.6)	(60.7)
Prior service credit (cost)	(0.5)	(0.5)
Unrecognized amounts in AOCL at end of period	(72.1)	(61.2)	(114.6)
Other Postretirement \| U.S.
Defined Benefit Plan Disclosure
Net unrecognized actuarial gains (losses)	34.2	38.2
Prior service credit (cost)	0.9	1.0
Unrecognized amounts in AOCL at end of period	35.1	39.2	14.7
Other Postretirement \| Foreign
Defined Benefit Plan Disclosure
Net unrecognized actuarial gains (losses)	5.8	4.1
Prior service credit (cost)	0.1	0.1
Unrecognized amounts in AOCL at end of period	$ 5.9	$ 4.2	$ (0.5)

Consolidated Statements of Equity (Parenthetical) - $ / shares	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Statement of Stockholders' Equity [Abstract]
Net issuances of shares held in treasury in settlement of stock-based compensation (in shares)	182,461	215,945	163,761
Shares acquired (in shares)	2,281,723	763,309	589,717
Repurchases of shares of common stock, average price (in dollars per share)	$ 137.21	$ 131.37	$ 170.03

Legal and Other Contingencies - Narrative (Details) employee in Thousands, $ in Millions	12 Months Ended
	Dec. 31, 2023 USD ($) employee	Dec. 31, 2022 USD ($)
Loss Contingencies
Reserves for pending legal disputes, including commercial disputes and other matters	$ 13.5	$ 15.9
Accrual for environmental loss contingencies	$ 4.9	$ 7.9
Environmental Loss Contingency Statement Of Financial Position Extensible Enumeration Not Disclosed Flag	results of operations or cash flows	results of operations or cash flows
Cumulative proceeds from insurance settlement	$ 22.6
Proceeds from insurance settlement	9.3
Cash flows from investing activities	$ 1.1	$ 0.5
Percentage of employees that are members of trade union and employed under labor agreements	47.00%
Typhoon
Loss Contingencies
Cumulative loss related to infrequent event	$ 27.1
Incremental costs recognized in period	0.6
Cost of sales \| Typhoon
Loss Contingencies
Insurance proceeds	3.9	13.3
Other expense, net \| Typhoon
Loss Contingencies
Insurance proceeds	$ 4.0	$ 1.4
Unionized workforce subject to labor agreement expiring in 2019
Loss Contingencies
Percentage of employees that are members of trade union and employed under labor agreements	86.00%
Number of employees \| employee	88
Unionized workforce subject to labor agreement expiring in 2019 \| United States and Canada
Loss Contingencies
Percentage of employees that are members of trade union and employed under labor agreements	2.00%

Income Taxes (Tables)

12 Months Ended

Dec. 31, 2023

Income Tax Disclosure [Abstract]

Summary of Consolidated Income Before Provision for Income Taxes and Equity in Net Income of Affiliates and Components of Provision for Income Taxes

A summary of consolidated income before provision for income taxes and equity in net income of affiliates and the components of provision for income taxes is shown below (in millions):


For the year ended December 31,	2023		2022		2021
Consolidated income before provision for income taxes and equity in net income of affiliates:
Domestic	$	59.9	$	87.6	$	(110.9)
Foreign	717.3		421.7		694.4
	$	777.2	$	509.3	$	583.5
Domestic (benefit) provision for income taxes:
Current provision	$	43.0	$	35.3	$	38.4
Deferred benefit	(29.4)		(41.4)		(76.6)
Total domestic (benefit) provision	$	13.6	$	(6.1)	$	(38.2)
Foreign provision for income taxes:
Current provision	$	196.6	$	147.8	$	154.8
Deferred (benefit) provision	(29.4)		(8.0)		21.1
Total foreign provision	$	167.2	$	139.8	$	175.9
Provision for income taxes	$	180.8	$	133.7	$	137.7

Summary of Difference Between Provision for Income Taxes Calculated at United States Federal Statutory Income Tax Rate and Consolidated Provision for Income Taxes


For the year ended December 31,	2023		2022		2021
Consolidated income before provision for income taxes and equity in net income of affiliates multiplied by the United States federal statutory income tax rate	$	163.2	$	107.0	$	122.5
Differences in income taxes on foreign earnings, losses and remittances	43.2		24.5		30.4
Valuation allowance adjustments (1)	(3.3)		45.2		29.0
Research and development and other tax credits	(15.9)		(15.0)		(19.0)
FDII deduction	(20.1)		(16.9)		(6.0)
U.S. tax impact of foreign earnings (2)	3.4		(6.3)		(9.8)
Tax audits and assessments	1.5		3.2		3.2
Other	8.8		(8.0)		(12.6)
Provision for income taxes	$	180.8	$	133.7	$	137.7

(1) Relates primarily to changes in valuation allowances on the deferred tax assets of foreign subsidiaries in 2022 and 2021.

Summary of Components of Net Deferred Income Tax Asset

A summary of the components of the net deferred income tax asset is shown below (in millions):


December 31,	2023		2022
Deferred income tax assets (liabilities):
Tax loss carryforwards	$	394.3	$	397.4
Tax credit carryforwards	240.4		243.9
Retirement benefit plans	24.6		22.6
Accrued liabilities	269.8		208.7
Self-insurance reserves	5.4		5.5
Current asset basis differences	50.3		42.0
Long-term asset basis differences (1)	16.4		3.5
Deferred compensation	35.4		25.8
Capitalized engineering, research and development	201.0		169.6
Undistributed earnings of foreign subsidiaries	(83.9)		(71.7)
Derivative instruments and hedging activities	(31.6)		(10.7)
Other	1.2		1.8
Net deferred income tax asset before valuation allowance	1,123.3		1,038.4
Valuation allowance	(429.0)		(417.9)
Net deferred income tax asset	$	694.3	$	620.5

Summary of Classification of Net Deferred Income Tax Asset

The classification of the net deferred income tax asset is shown below (in millions):


December 31,	2023		2022
Long-term deferred income tax assets	$	798.2	$	709.2
Long-term deferred income tax liabilities	(103.9)		(88.7)
Net deferred income tax asset	$	694.3	$	620.5

Summary of Changes in Gross Unrecognized Tax Benefits

A summary of the changes in gross unrecognized tax benefits is shown below (in millions):


For the year ended December 31,	2023		2022		2021
Balance at beginning of period	$	32.7	$	34.9	$	36.4
Additions based on tax positions related to current year	5.1		4.8		7.7
Reductions based on tax positions related to prior years	—		—		(4.0)
Settlements	—		(1.9)		(0.3)
Statute expirations	(5.1)		(6.3)		(5.2)
Foreign currency translation	0.4		1.2		0.3
Balance at end of period	$	33.1	$	32.7	$	34.9

Segment Reporting - Summary of Percentage of Revenues from Major Customers (Details) - Net sales - Revenue Concentration Risk	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
General Motors
Revenue, Major Customer
Concentration risk percentage	19.80%	20.20%	18.20%
Ford
Revenue, Major Customer
Concentration risk percentage	11.40%	13.50%	13.50%
Volkswagen
Revenue, Major Customer
Concentration risk percentage	11.00%	10.80%	11.80%
Mercedes-Benz
Revenue, Major Customer
Concentration risk percentage	10.40%	11.30%	11.20%
Stellantis
Revenue, Major Customer
Concentration risk percentage	10.20%	10.30%	10.90%

Audit Information	12 Months Ended
Audit Information	Dec. 31, 2023
Audit Information [Abstract]
Auditor Name	Ernst & Young LLP
Auditor Location	Detroit, Michigan
Auditor Firm ID	42

Financial Instruments - Fair Value of Debt Instruments (Details) - USD ($) $ in Millions	Dec. 31, 2023	Dec. 31, 2022
Investments, All Other Investments [Abstract]
Estimated aggregate fair value	$ 2,464.5	$ 2,142.3
Aggregate carrying value	$ 2,750.0	$ 2,600.0

Summary of Significant Accounting Policies (Tables)

12 Months Ended

Dec. 31, 2023

Accounting Policies [Abstract]

Summary of Inventories

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


December 31,	2023		2022
Raw materials	$	1,260.7	$	1,216.8
Work-in-process	141.0		126.6
Finished goods	540.8		391.9
Reserves	(184.5)		(161.7)
Inventories	$	1,758.0	$	1,573.6

Classification of Recoverable Customer Engineering, Development 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):


December 31,	2023		2022
Current	$	220.2	$	175.7
Long-term	164.3		161.3
Recoverable customer E&D and tooling	$	384.5	$	337.0

Property, Plant and Equipment

Depreciable property is depreciated over the estimated useful lives of the assets, using principally the straight-line method as follows:


Buildings and improvements			10 to 40 years
Machinery and equipment			5 to 10 years

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


December 31,	2023		2022
Land	$	105.6	$	104.6
Buildings and improvements	919.4		868.6
Machinery and equipment	5,324.4		4,871.5
Construction in progress	408.7		378.0
Total property, plant and equipment	6,758.1		6,222.7
Less – accumulated depreciation	(3,780.7)		(3,368.7)
Net property, plant and equipment	$	2,977.4	$	2,854.0

Summary of Changes in Carrying Amount of Goodwill

A summary of the changes in the carrying amount of goodwill for each of the periods in the two years ended December 31, 2023, is shown below (in millions):


	Seating		E-Systems		Total
Balance as of December 31, 2021	$	1,249.3	$	408.6	$	1,657.9
Acquisition	27.9		—		27.9
Foreign currency translation and other	(16.1)		(9.1)		(25.2)
Balance as of December 31, 2022	1,261.1		399.5		1,660.6
Acquisition	73.5		—		73.5
Foreign currency translation and other	6.9		(3.1)		3.8
Balance as of December 31, 2023	$	1,341.5	$	396.4	$	1,737.9

Summary of Finite-Lived Intangible Assets

A summary of intangible assets as of December 31, 2023, is shown below (in millions):


	Gross Carrying Value		Accumulated Amortization		Net Carrying Value		Weighted Average Useful Life (years)
Amortized intangible assets:
Customer-based	$	518.2	$	(354.9)	$	163.3	12
Licensing agreements	71.0		(66.3)		4.7		5
Technology	24.6		(3.7)		20.9		12
Other	0.4		(0.2)		0.2		5
Balance as of December 31, 2023	$	614.2	$	(425.1)	$	189.1	11

A summary of intangible assets as of December 31, 2022, is shown below (in millions):


	Gross Carrying Value		Accumulated Amortization		Net Carrying Value		Weighted Average Useful Life (years)
Amortized intangible assets:
Customer-based	$	514.9	$	(313.3)	$	201.6	12
Licensing agreements	71.0		(52.0)		19.0		5
Technology	16.2		(1.7)		14.5		13
Other	0.4		(0.1)		0.3		5
Balance as of December 31, 2022	$	602.5	$	(367.1)	$	235.4	11

Estimated Annual Intangible Asset Amortization Expense

Excluding the impact of any future acquisitions, the Company's estimated annual amortization expense for the five succeeding years is shown below (in millions):


Year	Expense
2024	$	49.4
2025	22.4
2026	22.0
2027	21.6
2028	20.6

Schedule of Accrued Liabilities

A summary of accrued liabilities as of December 31, 2023 and 2022, is shown below (in millions):


December 31,	2023		2022
Compensation and employee benefits	$	514.8	$	404.3
Income and other taxes payable	384.7		300.3
Current portion of lease obligations	151.9		136.8
Current portion of restructuring accrual	104.7		53.5
Other	1,049.1		1,066.6
Accrued liabilities	$	2,205.2	$	1,961.5

Summary of Other (Income) Expense, Net

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


For the year ended December 31,	2023		2022		2021
Other expense	$	83.7	$	57.2	$	65.4
Other income	(28.8)		(10.8)		(65.3)
Other expense, net	$	54.9	$	46.4	$	0.1

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 per share attributable to Lear is shown below (in millions, except share and per share data):


For the year ended December 31,	2023		2022		2021
Net income attributable to Lear	$	572.5	$	327.7	$	373.9

Average common shares outstanding	58,830,334		59,674,488		60,082,833
Dilutive effect of common stock equivalents	286,041		246,041		337,651
Average diluted shares outstanding	59,116,375		59,920,529		60,420,484

Basic net income per share attributable to Lear	$	9.73	$	5.49	$	6.22

Diluted net income per share attributable to Lear	$	9.68	$	5.47	$	6.19

Acquisitions

12 Months Ended

Dec. 31, 2023

Business Combination and Asset Acquisition [Abstract]

Acquisitions

I.G. Bauerhin

On April 26, 2023, the Company completed the acquisition of IGB, a privately held supplier of automotive seat heating, ventilation and active cooling, steering wheel heating, seat sensors and electronic control modules, headquartered in Grundau-Rothenbergen, Germany. IGB has more than 4,600 employees at nine manufacturing plants in seven countries with annual sales of approximately $290 million. The acquisition of IGB furthers the Company's comprehensive strategy to develop and integrate a complete portfolio of thermal comfort systems for automotive seating.

The acquisition of IGB was accounted for as a business combination, and accordingly, the assets acquired and liabilities assumed are included in the accompanying consolidated balance sheet as of December 31, 2023. The operating results and cash flows of IGB are included in the accompanying consolidated financial statements from the date of acquisition in the Company's Seating segment.

The preliminary purchase price and related allocation are shown below (in millions):


	July 1, 2023		Adjustments		December 31, 2023
Preliminary purchase price, net of acquired cash	$	174.5	$	—	$	174.5

Property, plant and equipment	49.7		(2.2)		47.5
Other assets purchased and liabilities assumed, net	37.9		0.2		38.1
Goodwill	69.9		3.6		73.5
Intangible assets	17.0		(1.6)		15.4
Preliminary purchase price allocation	$	174.5	$	—	$	174.5

Goodwill recognized is primarily attributable to the assembled workforce and expected synergies related to future growth.

Intangible assets consist of amounts recognized for the fair value of developed technology and customer-based assets which were both based on an independent appraisal. Developed technology assets have a weighted average useful life of approximately nine years. Customer-based assets include IGB's established relationships with its customers and the ability of these customers to generate future economic profits for the Company and have a weighted average useful life of approximately thirteen years.

The purchase price and related allocation are preliminary and may be revised as a result of further adjustments made to the purchase price and additional information obtained regarding assets acquired and liabilities assumed, including, but not limited to, certain tax attributes and contingent liabilities.

For the years ended December 31, 2023 and 2022, the Company incurred transaction costs of $0.5 million and $1.2 million, respectively, which were expensed as incurred and are recorded in selling, general and administrative expenses in the accompanying consolidated statements of income.

The pro-forma effects of this acquisition do not materially impact the Company's reported results for any period presented.

For further information related to acquired assets measured at fair value, see Note 16, "Financial Instruments."

Kongsberg ICS

On February 28, 2022, the Company completed the acquisition of Kongsberg ICS. Kongsberg ICS specializes in thermal comfort systems, including seat massage, lumbar, heat and ventilation products, with annual sales of approximately $300 million, of which approximately 20% are intercompany.

The acquisition of Kongsberg ICS was accounted for as a business combination, and accordingly, the assets acquired and liabilities assumed are included in the accompanying consolidated balance sheets as of December 31, 2023 and 2022. The operating results and cash flows of Kongsberg ICS are included in the accompanying consolidated financial statements from the date of acquisition in the Company's Seating segment.

The final purchase price and related allocation are shown below (in millions):


	December 31, 2023
Purchase price, net of acquired cash	$	188.3

Property, plant and equipment	124.1
Other assets purchased and liabilities assumed, net	25.2
Goodwill	27.9
Intangible assets	11.1
Purchase price allocation	$	188.3

Goodwill recognized is primarily attributable to the assembled workforce and expected synergies related to future growth.

Intangible assets consist of amounts recognized for the fair value of developed technology based on an independent appraisal. Developed technology assets have a weighted average useful life of approximately seventeen years.

For the year ended December 31, 2022, the Company incurred transaction costs of $10.0 million, which were expensed as incurred and are recorded in selling, general and administrative expenses in the accompanying consolidated statement of income.

The pro-forma effects of this acquisition do not materially impact the Company's reported results for any period presented.

For further information related to acquired assets measured at fair value, see Note 16, "Financial Instruments."

Investments in Affiliates and Other Related Party Transactions - Additional Information (Details) - Shenyang Lear Automotive Seating and Interior Systems Co., Ltd $ in Millions	12 Months Ended
	Dec. 31, 2021 USD ($)
Related Party Transaction
Ownership percentage of affiliates	49.00%
Payments to acquire equity method investments	$ 41.3

Summary of Significant Accounting Policies - Summary of Intangible Assets (Details) - USD ($) $ in Millions	Dec. 31, 2023	Dec. 31, 2022
Amortized intangible assets:
Gross Carrying Value	$ 614.2	$ 602.5
Accumulated Amortization	(425.1)	(367.1)
Net Carrying Value	$ 189.1	$ 235.4
Weighted Average Useful Life (years)	11 years	11 years
Customer-based
Amortized intangible assets:
Gross Carrying Value	$ 518.2	$ 514.9
Accumulated Amortization	(354.9)	(313.3)
Net Carrying Value	$ 163.3	$ 201.6
Weighted Average Useful Life (years)	12 years	12 years
Licensing agreements
Amortized intangible assets:
Gross Carrying Value	$ 71.0	$ 71.0
Accumulated Amortization	(66.3)	(52.0)
Net Carrying Value	$ 4.7	$ 19.0
Weighted Average Useful Life (years)	5 years	5 years
Technology
Amortized intangible assets:
Gross Carrying Value	$ 24.6	$ 16.2
Accumulated Amortization	(3.7)	(1.7)
Net Carrying Value	$ 20.9	$ 14.5
Weighted Average Useful Life (years)	12 years	13 years
Other
Amortized intangible assets:
Gross Carrying Value	$ 0.4	$ 0.4
Accumulated Amortization	(0.2)	(0.1)
Net Carrying Value	$ 0.2	$ 0.3
Weighted Average Useful Life (years)	5 years	5 years