Lear Corporation (LEA) Financial Statements (2023 and earlier)
Company Profile
| Business Address |
21557 TELEGRAPH ROAD SOUTHFIELD, MI 48033 |
| State of Incorp. | DE |
| Fiscal Year End | December 31 |
| Industry (SIC) | 3714 - Motor Vehicle Parts and Accessories (benchmarking) |
| More info | Complete Financial Analysis Financial Benchmarking |
Balance Sheet (Statement of Financial Position) ($ in millions)
| 3/31/2023 MRQ | 12/31/2022 | 12/31/2021 | 12/31/2020 | 12/31/2019 | 12/31/2018 | 12/31/2017 | |||
|---|---|---|---|---|---|---|---|---|---|
| ASSETS | |||||||||
| Current Assets | |||||||||
| Cash, cash equivalents, and short-term investments | 899 | 1,115 | 1,318 | 1,307 | 1,488 | 1,493 | 1,500 | ||
| Cash and cash equivalents | 899 | 1,115 | 1,318 | 1,307 | 1,488 | 1,493 | 1,500 | ||
| Receivables | 4,143 | 3,452 | 3,042 | 3,269 | 2,983 | 2,880 | 3,231 | ||
| Inventory, net of allowances, customer advances and progress billings | 1,676 | 1,574 | 1,572 | 1,401 | 1,258 | 1,197 | 1,206 | ||
| Inventory | 1,676 | 1,574 | 1,572 | 1,401 | 1,258 | 1,197 | 1,206 | ||
| Other current assets | 861 | 854 | 834 | 800 | 678 | 710 | 676 | ||
| Total current assets: | 7,579 | 6,994 | 6,765 | 6,777 | 6,407 | 6,281 | 6,613 | ||
| Noncurrent Assets | |||||||||
| Property, plant and equipment | 2,841 | 2,854 | 2,720 | 2,736 | 2,704 | 2,598 | 2,459 | ||
| Intangible assets, net (including goodwill) | 1,667 | 1,661 | 1,658 | 1,656 | 1,614 | 1,405 | 1,401 | ||
| Goodwill | 1,667 | 1,661 | 1,658 | 1,656 | 1,614 | 1,405 | 1,401 | ||
| Other noncurrent assets | 2,318 | 2,254 | 2,209 | 2,030 | 1,956 | 1,317 | 1,472 | ||
| Total noncurrent assets: | 6,826 | 6,769 | 6,587 | 6,422 | 6,274 | 5,320 | 5,333 | ||
| TOTAL ASSETS: | 14,404 | 13,763 | 13,352 | 13,199 | 12,681 | 11,601 | 11,946 | ||
| LIABILITIES AND EQUITY | |||||||||
| Liabilities | |||||||||
| Current Liabilities | |||||||||
| Accounts payable and accrued liabilities | 5,576 | 5,168 | 4,759 | 5,063 | 4,633 | 2,863 | 3,167 | ||
| Accounts payable | 3,579 | 3,206 | 2,952 | 3,142 | 2,822 | 2,863 | 3,167 | ||
| Accrued liabilities | 1,997 | 1,962 | 1,807 | 1,921 | 1,811 | ||||
| Debt | 22 | 21 | 1 | 14 | 33 | 23 | 9 | ||
| Other liabilities | 1,615 | 1,678 | |||||||
| Total current liabilities: | 5,598 | 5,188 | 4,760 | 5,077 | 4,666 | 4,501 | 4,854 | ||
| Noncurrent Liabilities | |||||||||
| Long-term debt and lease obligation, including: | 2,592 | 2,591 | 2,595 | 2,300 | 2,294 | 1,941 | 1,952 | ||
| Other undisclosed long-term debt and lease obligation | 2,592 | 2,591 | 2,072 | 1,861 | 1,871 | 1,941 | 1,952 | ||
| Liabilities, other than long-term debt | 1,186 | 1,153 | 1,189 | 1,207 | 1,101 | 640 | 694 | ||
| Other liabilities | 1,186 | 1,153 | 1,189 | 1,207 | 1,101 | 640 | 694 | ||
| Operating lease, liability | 524 | 439 | 422 | ✕ | ✕ | ||||
| Total noncurrent liabilities: | 3,777 | 3,744 | 3,784 | 3,507 | 3,395 | 2,581 | 2,646 | ||
| Total liabilities: | 9,375 | 8,933 | 8,544 | 8,584 | 8,061 | 7,082 | 7,500 | ||
| Temporary equity, carrying amount | 118 | 158 | 153 | ||||||
| Equity | |||||||||
| Equity, attributable to parent | 4,858 | 4,679 | 4,643 | 4,467 | 4,350 | 4,201 | 4,151 | ||
| Common stock | 1 | 1 | 1 | 1 | 1 | 1 | 1 | ||
| Treasury stock, value | (762) | (754) | (679) | (599) | (563) | (225) | (724) | ||
| Additional paid in capital | 1,013 | 1,023 | 1,019 | 964 | 969 | 1,017 | 1,215 | ||
| Accumulated other comprehensive loss | (705) | (805) | (770) | (705) | (773) | (706) | (513) | ||
| Retained earnings | 5,310 | 5,214 | 5,073 | 4,807 | 4,716 | 4,114 | 4,172 | ||
| Equity, attributable to noncontrolling interest | 172 | 152 | 165 | 148 | 151 | 160 | 142 | ||
| Total equity: | 5,029 | 4,830 | 4,808 | 4,615 | 4,501 | 4,361 | 4,293 | ||
| TOTAL LIABILITIES AND EQUITY: | 14,404 | 13,763 | 13,352 | 13,199 | 12,681 | 11,601 | 11,946 | ||
Income Statement (P&L) ($ in millions)
| 3/31/2023 TTM | 12/31/2022 | 12/31/2021 | 12/31/2020 | 12/31/2019 | 12/31/2018 | 12/31/2017 | ||
|---|---|---|---|---|---|---|---|---|
| Revenues | 21,529 | 20,892 | 19,263 | 17,046 | 19,810 | 21,149 | 21,028 | |
| Revenue, net | ✕ | ✕ | ✕ | ✕ | ✕ | ✕ | 20,967 | |
| Cost of revenue (Cost of Goods and Services Sold) | (20,010) | (19,482) | (17,871) | (15,937) | (18,073) | (18,830) | (18,176) | |
| Gross profit: | 1,518 | 1,410 | 1,392 | 1,109 | 1,738 | 2,318 | 2,852 | |
| Operating expenses | (827) | (899) | (817) | (800) | (1,027) | (907) | (904) | |
| Other operating expense, net (Other Expenses) | (46) | (57) | (65) | (72) | (52) | (44) | (57) | |
| Other undisclosed operating income (loss) | 117 | 201 | 166 | 217 | 412 | 287 | (283) | |
| Operating income: | 763 | 654 | 675 | 454 | 1,070 | 1,654 | 1,608 | |
| Interest and debt expense | (98) | (99) | (92) | (100) | (92) | (84) | (86) | |
| Other undisclosed income (loss) from continuing operations before equity method investments, income taxes | (33) | (46) | (0) | (55) | (25) | (32) | 4 | |
| Income from continuing operations before equity method investments, income taxes: | 632 | 509 | 584 | 299 | 954 | 1,538 | 1,527 | |
| Income from equity method investments | 32 | 33 | 16 | 29 | 23 | 20 | 52 | |
| Other undisclosed loss from continuing operations before income taxes | (33) | (33) | (16) | |||||
| Income from continuing operations before income taxes: | 631 | 509 | 584 | 328 | 977 | 1,559 | 1,578 | |
| Income tax expense | (159) | (134) | (138) | (94) | (146) | (312) | (198) | |
| Income from continuing operations: | 472 | 376 | 446 | 234 | 831 | 1,247 | 1,381 | |
| Income before gain (loss) on sale of properties: | 205 | ✕ | 446 | 234 | 831 | 1,247 | 1,381 | |
| Other undisclosed net income | 33 | 33 | 16 | |||||
| Net income: | 506 | 409 | 462 | 234 | 831 | 1,247 | 1,381 | |
| Net loss attributable to noncontrolling interest | (84) | (81) | (88) | (75) | (77) | (97) | (68) | |
| Net income attributable to parent: | 422 | 328 | 374 | 159 | 754 | 1,150 | 1,313 | |
| Preferred stock dividends and other adjustments | 36 | (10) | (26) | |||||
| Net income available to common stockholders, diluted: | 422 | 328 | 374 | 159 | 790 | 1,139 | 1,288 | |
Comprehensive Income ($ in millions)
| 3/31/2023 TTM | 12/31/2022 | 12/31/2021 | 12/31/2020 | 12/31/2019 | 12/31/2018 | 12/31/2017 | ||
|---|---|---|---|---|---|---|---|---|
| Net income: | 506 | 409 | 462 | 234 | 831 | 1,247 | 1,381 | |
| Other comprehensive income (loss) | (2) | (42) | (62) | 83 | (70) | (209) | 336 | |
| Other undisclosed comprehensive income | 53 | |||||||
| Comprehensive income: | 556 | 366 | 400 | 317 | 760 | 1,038 | 1,717 | |
| Comprehensive loss, net of tax, attributable to noncontrolling interest | (77) | (74) | (91) | (91) | (74) | (81) | (81) | |
| Comprehensive income, net of tax, attributable to parent: | 480 | 293 | 309 | 226 | 687 | 957 | 1,636 | |
Statements Sources
The financial statements are based on the Company's filings with the U.S. Securities and Exchange Commission (SEC) through the Electronic Data Gathering, Analysis, and Retrieval system (EDGAR). The information is derived from the 10-K and 10-Q reports submitted to the SEC in XBRL (eXtensible Business Reporting Language) format and presented according to the US GAAP Taxonomy. Please review the original filings for a more detailed information.