$VC
VISTEON CORP

2019 Q2 Form 10-Q Financial Statement

#000111133519000008 Filed on July 25, 2019

View on sec.gov

Income Statement

Concept 2019 Q2 2019 Q1 2018 Q2
Revenue $733.0M $737.0M $758.0M
YoY Change -3.3% -9.46% -2.07%
Cost Of Revenue $663.0M $671.0M $654.0M
YoY Change 1.38% -2.04% -1.36%
Gross Profit $70.00M $66.00M $104.0M
YoY Change -32.69% -48.84% -6.31%
Gross Profit Margin 9.55% 8.96% 13.72%
Selling, General & Admin $58.00M $57.00M $55.00M
YoY Change 5.45% 29.55% 1.85%
% of Gross Profit 82.86% 86.36% 52.88%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $24.00M $25.00M $23.00M
YoY Change 4.35% 13.64% 4.55%
% of Gross Profit 34.29% 37.88% 22.12%
Operating Expenses $58.00M $57.00M $55.00M
YoY Change 5.45% 29.55% 1.85%
Operating Profit $12.00M $9.000M $49.00M
YoY Change -75.51% -89.41% -14.04%
Interest Expense $3.000M $3.000M $3.000M
YoY Change 0.0% -25.0% -40.0%
% of Operating Profit 25.0% 33.33% 6.12%
Other Income/Expense, Net $3.000M $2.000M $3.000M
YoY Change 0.0% -71.43% -40.0%
Pretax Income $16.00M $11.00M $49.00M
YoY Change -67.35% -87.5% -15.52%
Income Tax $8.000M -$5.000M $12.00M
% Of Pretax Income 50.0% -45.45% 24.49%
Net Earnings $7.000M $14.00M $35.00M
YoY Change -80.0% -78.46% -22.22%
Net Earnings / Revenue 0.95% 1.9% 4.62%
Basic Earnings Per Share $0.25 $0.50 $1.19
Diluted Earnings Per Share $0.25 $0.49 $1.17
COMMON SHARES
Basic Shares Outstanding 28.10M shares 28.20M shares 29.60M shares
Diluted Shares Outstanding 28.20M shares 28.40M shares 29.90M shares

Balance Sheet

Concept 2019 Q2 2019 Q1 2018 Q2
SHORT-TERM ASSETS
Cash & Short-Term Investments $435.0M $432.0M $525.0M
YoY Change -17.14% -17.4% -28.08%
Cash & Equivalents $435.0M $432.0M $525.0M
Short-Term Investments
Other Short-Term Assets $190.0M $190.0M $173.0M
YoY Change 9.83% -2.06% 8.81%
Inventory $187.0M $195.0M $197.0M
Prepaid Expenses $24.00M $40.00M
Receivables $468.0M $484.0M $438.0M
Other Receivables $120.0M $94.00M $101.0M
Total Short-Term Assets $1.283B $1.283B $1.336B
YoY Change -3.97% -9.46% -15.28%
LONG-TERM ASSETS
Property, Plant & Equipment $414.0M $406.0M $372.0M
YoY Change 11.29% 4.37% 5.68%
Goodwill
YoY Change
Intangibles $79.00M
YoY Change
Long-Term Investments $48.00M $45.00M $48.00M
YoY Change 0.0% 0.0% 26.32%
Other Assets $157.0M $157.0M $155.0M
YoY Change 1.29% -2.48% 2.65%
Total Long-Term Assets $909.0M $899.0M $700.0M
YoY Change 29.86% 23.49% 4.63%
TOTAL ASSETS
Total Short-Term Assets $1.283B $1.283B $1.336B
Total Long-Term Assets $909.0M $899.0M $700.0M
Total Assets $2.192B $2.182B $2.036B
YoY Change 7.66% 1.72% -9.35%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $447.0M $440.0M $435.0M
YoY Change 2.76% -10.75% -0.91%
Accrued Expenses $115.0M $103.0M $85.00M
YoY Change 35.29% 19.77% -10.53%
Deferred Revenue
YoY Change
Short-Term Debt $54.00M $56.00M $30.00M
YoY Change 80.0% 60.0% -26.83%
Long-Term Debt Due $0.00
YoY Change -100.0%
Total Short-Term Liabilities $762.0M $739.0M $703.0M
YoY Change 8.39% -6.1% -12.67%
LONG-TERM LIABILITIES
Long-Term Debt $348.0M $348.0M $348.0M
YoY Change 0.0% 0.29% 0.29%
Other Long-Term Liabilities $72.00M $69.00M $87.00M
YoY Change -17.24% -30.3% 40.32%
Total Long-Term Liabilities $420.0M $417.0M $435.0M
YoY Change -3.45% -6.5% 6.36%
TOTAL LIABILITIES
Total Short-Term Liabilities $762.0M $739.0M $703.0M
Total Long-Term Liabilities $420.0M $417.0M $435.0M
Total Liabilities $1.182B $1.156B $1.138B
YoY Change 3.87% -6.24% -6.26%
SHAREHOLDERS EQUITY
Retained Earnings $1.630B $1.623B $1.545B
YoY Change 5.5% 7.48% 12.2%
Common Stock $1.000M $1.000M $1.000M
YoY Change 0.0% 0.0% 0.0%
Preferred Stock
YoY Change
Treasury Stock (at cost) $2.277B $2.257B $2.137B
YoY Change 6.55% 5.52% 10.38%
Treasury Stock Shares
Shareholders Equity $477.0M $487.0M $516.0M
YoY Change
Total Liabilities & Shareholders Equity $2.192B $2.182B $2.036B
YoY Change 7.66% 1.72% -9.35%

Cashflow Statement

Concept 2019 Q2 2019 Q1 2018 Q2
OPERATING ACTIVITIES
Net Income $7.000M $14.00M $35.00M
YoY Change -80.0% -78.46% -22.22%
Depreciation, Depletion And Amortization $24.00M $25.00M $23.00M
YoY Change 4.35% 13.64% 4.55%
Cash From Operating Activities $57.00M $4.000M $45.00M
YoY Change 26.67% -95.06% -53.13%
INVESTING ACTIVITIES
Capital Expenditures -$34.00M -$37.00M -$25.00M
YoY Change 36.0% -15.91% 66.67%
Acquisitions
YoY Change
Other Investing Activities $1.000M -$1.000M $0.00
YoY Change 0.0% -100.0%
Cash From Investing Activities -$33.00M -$34.00M -$25.00M
YoY Change 32.0% -17.07% 257.14%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net $20.00M $0.00
YoY Change -100.0%
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -21.00M -$2.000M -3.000M
YoY Change 600.0% -99.13% -94.44%
NET CHANGE
Cash From Operating Activities 57.00M $4.000M 45.00M
Cash From Investing Activities -33.00M -$34.00M -25.00M
Cash From Financing Activities -21.00M -$2.000M -3.000M
Net Change In Cash 3.000M -$32.00M 17.00M
YoY Change -82.35% -83.16% -51.43%
FREE CASH FLOW
Cash From Operating Activities $57.00M $4.000M $45.00M
Capital Expenditures -$34.00M -$37.00M -$25.00M
Free Cash Flow $91.00M $41.00M $70.00M
YoY Change 30.0% -67.2% -36.94%

Facts In Submission

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CY2018Q4 us-gaap Inventory Net
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48000000 USD
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CY2019Q2 us-gaap Assets
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49000000 USD
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45000000 USD
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us-gaap Increase Decrease In Accounts Receivable
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3000000 USD
us-gaap Increase Decrease In Inventories
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14000000 USD
us-gaap Increase Decrease In Accounts Payable
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20000000 USD
us-gaap Increase Decrease In Accounts Payable
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-8000000 USD
us-gaap Increase Decrease In Other Operating Capital Net
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57000000 USD
us-gaap Increase Decrease In Other Operating Capital Net
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79000000 USD
us-gaap Net Cash Provided By Used In Operating Activities
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61000000 USD
us-gaap Net Cash Provided By Used In Operating Activities
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126000000 USD
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71000000 USD
vc Paymentstoacquirepropertyplantequipmentandintangibleassets
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69000000 USD
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vc Loanstononconsolidatedaffiliatesnetofrepayments
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-2000000 USD
us-gaap Payments For Proceeds From Other Investing Activities
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-2000000 USD
us-gaap Payments For Proceeds From Other Investing Activities
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-1000000 USD
us-gaap Net Cash Provided By Used In Investing Activities
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-67000000 USD
us-gaap Net Cash Provided By Used In Investing Activities
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-66000000 USD
us-gaap Proceeds From Repayments Of Short Term Debt
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-3000000 USD
us-gaap Proceeds From Repayments Of Short Term Debt
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-16000000 USD
us-gaap Payments For Repurchase Of Common Stock
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20000000 USD
us-gaap Payments For Repurchase Of Common Stock
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200000000 USD
us-gaap Payments Of Capital Distribution
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0 USD
us-gaap Payments Of Capital Distribution
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14000000 USD
us-gaap Proceeds From Payments For Other Financing Activities
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us-gaap Proceeds From Payments For Other Financing Activities
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-3000000 USD
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-23000000 USD
us-gaap Net Cash Provided By Used In Financing Activities
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-233000000 USD
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-8000000 USD
us-gaap Cash And Cash Equivalents Period Increase Decrease
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-29000000 USD
us-gaap Cash And Cash Equivalents Period Increase Decrease
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-181000000 USD
CY2018Q4 us-gaap Cash And Cash Equivalents At Carrying Value Including Discontinued Operations
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467000000 USD
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709000000 USD
CY2019Q2 us-gaap Restricted Cash And Cash Equivalents
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438000000 USD
CY2018Q2 us-gaap Restricted Cash And Cash Equivalents
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528000000 USD
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200000000 USD
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25000000 USD
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582000000 USD
CY2018Q1 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
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615000000 USD
CY2019Q1 us-gaap Profit Loss
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16000000 USD
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5000000 USD
CY2019Q1 us-gaap Adjustments To Additional Paid In Capital Sharebased Compensation Requisite Service Period Recognition Value
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2000000 USD
CY2019Q1 us-gaap Noncontrolling Interest Increase From Business Combination
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CY2019Q1 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
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605000000 USD
CY2019Q2 us-gaap Profit Loss
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8000000 USD
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6000000 USD
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593000000 USD
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3000000 USD
CY2018Q2 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
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616000000 USD
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us-gaap Prior Period Reclassification Adjustment Description
PriorPeriodReclassificationAdjustmentDescription
<div style="line-height:120%;text-align:justify;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;font-style:italic;">Other Income, net: </span></div><div style="line-height:120%;text-align:justify;font-size:10pt;"><div style="padding-left:0px;text-indent:0px;line-height:normal;padding-top:10px;"><table cellpadding="0" cellspacing="0" style="font-family:Times New Roman;font-size:10pt;width:99.609375%;border-collapse:collapse;text-align:left;"><tr><td colspan="16"/></tr><tr><td style="width:37%;"/><td style="width:1%;"/><td style="width:13%;"/><td style="width:1%;"/><td style="width:1%;"/><td style="width:1%;"/><td style="width:13%;"/><td style="width:1%;"/><td style="width:1%;"/><td style="width:1%;"/><td style="width:13%;"/><td style="width:1%;"/><td style="width:1%;"/><td style="width:1%;"/><td style="width:13%;"/><td style="width:1%;"/></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td colspan="7" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:center;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;font-weight:bold;">Three Months Ended June 30</span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"> </span></div></td><td colspan="7" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:center;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;font-weight:bold;">Six Months Ended June 30</span></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td colspan="3" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:center;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;font-weight:bold;">2019</span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:center;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td colspan="3" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:center;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;font-weight:bold;">2018</span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"> </span></div></td><td colspan="3" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-top:1px solid #000000;"><div style="text-align:center;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;font-weight:bold;">2019</span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-top:1px solid #000000;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"> </span></div></td><td colspan="3" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-top:1px solid #000000;"><div style="text-align:center;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;font-weight:bold;">2018</span></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td colspan="15" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:center;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;font-weight:bold;">(Dollars in Millions)</span></div></td></tr><tr><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Pension financing benefits, net</span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">$</span></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>3</span></span></div></td><td style="vertical-align:bottom;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"> </span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">$</span></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>3</span></span></div></td><td style="vertical-align:bottom;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"> </span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">$</span></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>5</span></span></div></td><td style="vertical-align:bottom;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"> </span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">$</span></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>6</span></span></div></td><td style="vertical-align:bottom;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Transformation initiatives</span></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>—</span></span></div></td><td style="vertical-align:bottom;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>—</span></span></div></td><td style="vertical-align:bottom;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>—</span></span></div></td><td style="vertical-align:bottom;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>4</span></span></div></td><td style="vertical-align:bottom;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td></tr><tr><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;border-top:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">$</span></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;background-color:#cceeff;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>3</span></span></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;background-color:#cceeff;border-top:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;border-top:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">$</span></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;background-color:#cceeff;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>3</span></span></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;background-color:#cceeff;border-top:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"> </span></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;border-top:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">$</span></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;background-color:#cceeff;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>5</span></span></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;background-color:#cceeff;border-top:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"> </span></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;border-top:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">$</span></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;background-color:#cceeff;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>10</span></span></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;background-color:#cceeff;border-top:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td></tr></table></div><span style="font-family:inherit;font-size:10pt;"><br/></span></div><div style="line-height:120%;text-align:justify;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div><div style="line-height:120%;padding-bottom:16px;text-align:justify;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Pension financing benefits, net include return on assets net of interest costs and other amortization. </span></div><div style="line-height:120%;text-align:justify;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Transformation initiatives for the </span><span style="font-family:inherit;font-size:10pt;">six</span><span style="font-family:inherit;font-size:10pt;"> months ended </span><span style="font-family:inherit;font-size:10pt;">June 30, 2018</span><span style="font-family:inherit;font-size:10pt;"> include a $</span><span style="font-family:inherit;font-size:10pt;"><span>4 million</span></span><span style="font-family:inherit;font-size:10pt;"> benefit on settlement of litigation matters with the Company’s former President and Chief Executive Officer (“former CEO”) as further described in Note 18, "Commitments and Contingencies." </span></div><div style="line-height:120%;text-align:justify;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div>
CY2019Q2 vc Pension Financing Benefitsnet
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3000000 USD
CY2018Q2 vc Pension Financing Benefitsnet
PensionFinancingBenefitsnet
3000000 USD
vc Pension Financing Benefitsnet
PensionFinancingBenefitsnet
5000000 USD
vc Pension Financing Benefitsnet
PensionFinancingBenefitsnet
6000000 USD
CY2019Q2 vc Transformation Costs
TransformationCosts
0 USD
CY2018Q2 vc Transformation Costs
TransformationCosts
0 USD
vc Transformation Costs
TransformationCosts
0 USD
vc Transformation Costs
TransformationCosts
4000000 USD
CY2019Q2 us-gaap Other Nonoperating Income Expense
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3000000 USD
CY2018Q2 us-gaap Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
3000000 USD
us-gaap Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
5000000 USD
us-gaap Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
10000000 USD
vc Transformation Costs
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4000000 USD
CY2019Q1 us-gaap Operating Lease Liability
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172000000 USD
CY2019Q1 us-gaap Operating Lease Right Of Use Asset
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176000000 USD
CY2019Q2 vc Hedgingimpactandeliminations
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-44000000 USD
CY2019Q2 us-gaap Revenues
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CY2018Q2 us-gaap Revenues
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758000000 USD
us-gaap Revenues
Revenues
1470000000 USD
us-gaap Revenues
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1572000000 USD
CY2019Q2 vc Netchangesintransactionprice
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4000000 USD
vc Netchangesintransactionprice
Netchangesintransactionprice
11000000 USD
CY2018Q2 vc Netchangesintransactionprice
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3000000 USD
vc Netchangesintransactionprice
Netchangesintransactionprice
11000000 USD
CY2019Q2 us-gaap Net Income Loss
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7000000 USD
CY2018Q2 us-gaap Net Income Loss
NetIncomeLoss
35000000 USD
us-gaap Net Income Loss
NetIncomeLoss
21000000 USD
us-gaap Net Income Loss
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100000000 USD
CY2019Q2 vc Depreciationand Amortization Expensesfor Continuing Operations
DepreciationandAmortizationExpensesforContinuingOperations
24000000 USD
CY2018Q2 vc Depreciationand Amortization Expensesfor Continuing Operations
DepreciationandAmortizationExpensesforContinuingOperations
23000000 USD
vc Depreciationand Amortization Expensesfor Continuing Operations
DepreciationandAmortizationExpensesforContinuingOperations
49000000 USD
vc Depreciationand Amortization Expensesfor Continuing Operations
DepreciationandAmortizationExpensesforContinuingOperations
45000000 USD
CY2019Q2 us-gaap Allocated Share Based Compensation Expense
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6000000 USD
CY2018Q2 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
6000000 USD
us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
11000000 USD
us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
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CY2019Q2 us-gaap Income Tax Expense Benefit
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8000000 USD
CY2018Q2 us-gaap Income Tax Expense Benefit
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12000000 USD
us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
3000000 USD
us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
33000000 USD
CY2019Q2 us-gaap Interest Income Expense Net
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CY2018Q2 us-gaap Interest Income Expense Net
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us-gaap Interest Income Expense Net
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us-gaap Interest Income Expense Net
InterestIncomeExpenseNet
-4000000 USD
CY2019Q2 us-gaap Net Income Loss Attributable To Noncontrolling Interest
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1000000 USD
CY2018Q2 us-gaap Net Income Loss Attributable To Noncontrolling Interest
NetIncomeLossAttributableToNoncontrollingInterest
1000000 USD
us-gaap Net Income Loss Attributable To Noncontrolling Interest
NetIncomeLossAttributableToNoncontrollingInterest
3000000 USD
us-gaap Net Income Loss Attributable To Noncontrolling Interest
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5000000 USD
CY2019Q2 vc Restructuringchargesnetofreversals
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CY2018Q2 us-gaap Restructuring Charges
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5000000 USD
us-gaap Restructuring Charges
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1000000 USD
us-gaap Restructuring Charges
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10000000 USD
CY2019Q2 vc Adjustments To Ebitda For Discontinued Operations
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0 USD
CY2018Q2 vc Adjustments To Ebitda For Discontinued Operations
AdjustmentsToEbitdaForDiscontinuedOperations
1000000 USD
vc Adjustments To Ebitda For Discontinued Operations
AdjustmentsToEbitdaForDiscontinuedOperations
0 USD
vc Adjustments To Ebitda For Discontinued Operations
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CY2019Q2 vc Equityinnetincomeofnonconsolidatedaffiliates
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3000000 USD
CY2018Q2 vc Equityinnetincomeofnonconsolidatedaffiliates
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4000000 USD
vc Equityinnetincomeofnonconsolidatedaffiliates
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6000000 USD
vc Equityinnetincomeofnonconsolidatedaffiliates
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7000000 USD
CY2019Q2 us-gaap Other Nonoperating Expense
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1000000 USD
CY2018Q2 us-gaap Other Nonoperating Expense
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us-gaap Other Nonoperating Expense
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1000000 USD
us-gaap Other Nonoperating Expense
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CY2019Q2 vc Adjusted Ebitda
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46000000 USD
CY2018Q2 vc Adjusted Ebitda
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81000000 USD
vc Adjusted Ebitda
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87000000 USD
vc Adjusted Ebitda
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185000000 USD
CY2019Q2 us-gaap Income Loss From Continuing Operations
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7000000 USD
CY2018Q2 us-gaap Income Loss From Continuing Operations
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36000000 USD
us-gaap Income Loss From Continuing Operations
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21000000 USD
us-gaap Income Loss From Continuing Operations
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99000000 USD
CY2019Q2 us-gaap Income Loss From Discontinued Operations Net Of Tax Attributable To Reporting Entity
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0 USD
CY2018Q2 us-gaap Income Loss From Discontinued Operations Net Of Tax Attributable To Reporting Entity
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us-gaap Income Loss From Discontinued Operations Net Of Tax Attributable To Reporting Entity
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0 USD
us-gaap Income Loss From Discontinued Operations Net Of Tax Attributable To Reporting Entity
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1000000 USD
CY2019Q2 us-gaap Net Income Loss
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CY2018Q2 us-gaap Net Income Loss
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us-gaap Net Income Loss
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21000000 USD
us-gaap Net Income Loss
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100000000 USD
CY2019Q2 us-gaap Weighted Average Number Of Shares Outstanding Basic
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28100000 shares
CY2018Q2 us-gaap Weighted Average Number Of Shares Outstanding Basic
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29600000 shares
us-gaap Weighted Average Number Of Shares Outstanding Basic
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28100000 shares
us-gaap Weighted Average Number Of Shares Outstanding Basic
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30100000 shares
CY2019Q2 us-gaap Incremental Common Shares Attributable To Call Options And Warrants
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100000 shares
CY2018Q2 us-gaap Incremental Common Shares Attributable To Call Options And Warrants
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300000 shares
us-gaap Incremental Common Shares Attributable To Call Options And Warrants
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100000 shares
us-gaap Incremental Common Shares Attributable To Call Options And Warrants
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300000 shares
CY2019Q2 us-gaap Weighted Average Number Of Diluted Shares Outstanding
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28200000 shares
CY2018Q2 us-gaap Weighted Average Number Of Diluted Shares Outstanding
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29900000 shares
CY2019Q2 us-gaap Income Loss From Discontinued Operations Net Of Tax Per Basic Share
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0
us-gaap Earnings Per Share Diluted
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us-gaap Income Loss From Continuing Operations Per Basic Share
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0.75
us-gaap Earnings Per Share Diluted
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3.29
us-gaap Income Loss From Continuing Operations Per Basic Share
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3.29
CY2019Q2 us-gaap Restructuring Reserve Current
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14000000 USD
us-gaap Weighted Average Number Of Diluted Shares Outstanding
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28200000 shares
us-gaap Weighted Average Number Of Diluted Shares Outstanding
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30400000 shares
CY2019Q2 us-gaap Income Loss From Continuing Operations Per Basic Share
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0.25
CY2018Q2 us-gaap Income Loss From Continuing Operations Per Basic Share
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1.22
CY2018Q2 us-gaap Income Loss From Discontinued Operations Net Of Tax Per Basic Share
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-0.03
us-gaap Income Loss From Discontinued Operations Net Of Tax Per Basic Share
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0
us-gaap Income Loss From Discontinued Operations Net Of Tax Per Basic Share
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0.03
CY2019Q2 us-gaap Earnings Per Share Basic
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0.25
CY2018Q2 us-gaap Earnings Per Share Basic
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1.19
us-gaap Earnings Per Share Basic
EarningsPerShareBasic
0.75
us-gaap Earnings Per Share Basic
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3.32
CY2019Q2 us-gaap Income Loss From Continuing Operations Per Diluted Share
IncomeLossFromContinuingOperationsPerDilutedShare
0.25
CY2018Q2 us-gaap Income Loss From Continuing Operations Per Diluted Share
IncomeLossFromContinuingOperationsPerDilutedShare
1.20
us-gaap Income Loss From Continuing Operations Per Diluted Share
IncomeLossFromContinuingOperationsPerDilutedShare
0.74
us-gaap Income Loss From Continuing Operations Per Diluted Share
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3.26
CY2019Q2 us-gaap Income Loss From Discontinued Operations Net Of Tax Per Diluted Share
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0
CY2018Q2 us-gaap Income Loss From Discontinued Operations Net Of Tax Per Diluted Share
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us-gaap Income Loss From Discontinued Operations Net Of Tax Per Diluted Share
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0
us-gaap Income Loss From Discontinued Operations Net Of Tax Per Diluted Share
IncomeLossFromDiscontinuedOperationsNetOfTaxPerDilutedShare
0.03
CY2019Q2 us-gaap Earnings Per Share Diluted
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0.25
CY2018Q2 us-gaap Earnings Per Share Diluted
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1.17
CY2018Q4 us-gaap Restructuring Reserve Current
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23000000 USD
CY2018Q4 us-gaap Restructuring Reserve Current
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23000000 USD
CY2019Q1 us-gaap Restructuring Charges
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2000000 USD
CY2019Q1 us-gaap Payments For Restructuring
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3000000 USD
CY2019Q1 us-gaap Restructuring Reserve Accrual Adjustment1
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-2000000 USD
CY2019Q1 us-gaap Restructuring Reserve Translation Adjustment
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-1000000 USD
CY2019Q1 us-gaap Restructuring Reserve Current
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19000000 USD
CY2019Q2 us-gaap Payments For Restructuring
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5000000 USD
CY2019Q2 us-gaap Restructuring Charges
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2000000 USD
CY2019Q2 us-gaap Restructuring Reserve Accrual Adjustment1
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CY2019Q2 us-gaap Restructuring Reserve Current
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14000000 USD
CY2019Q2 us-gaap Guarantee Obligations Current Carrying Value
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11000000 USD
CY2018Q4 us-gaap Guarantee Obligations Current Carrying Value
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11000000 USD
CY2019Q2 us-gaap Loss Contingency Estimate Of Possible Loss
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108000000 USD
CY2018Q4 us-gaap Loss Contingency Estimate Of Possible Loss
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105000000 USD
CY2019Q2 us-gaap Inventory Raw Materials Net Of Reserves
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121000000 USD
CY2018Q4 us-gaap Inventory Raw Materials Net Of Reserves
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124000000 USD
CY2019Q2 us-gaap Inventory Work In Process Net Of Reserves
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23000000 USD
CY2018Q4 us-gaap Inventory Work In Process Net Of Reserves
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26000000 USD
CY2019Q2 us-gaap Inventory Finished Goods Net Of Reserves
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43000000 USD
CY2018Q4 us-gaap Inventory Finished Goods Net Of Reserves
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34000000 USD
CY2019Q2 us-gaap Inventory Net
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187000000 USD
CY2018Q4 us-gaap Inventory Net
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184000000 USD
CY2019Q1 us-gaap Finitelived Intangible Assets Acquired1
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5000000 USD
CY2019Q1 us-gaap Amortization Of Intangible Assets
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8000000 USD
CY2019Q1 us-gaap Intangible Assets Net Excluding Goodwill
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79000000 USD
CY2018Q4 us-gaap Goodwill Gross
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47000000 USD
CY2018Q4 vc Goodwill And Indefinite Lived Intangible Assets Net
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47000000 USD
CY2019Q1 us-gaap Goodwill Acquired During Period
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CY2019Q1 vc Goodwill And Indefinite Lived Intangible Assets Net
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47000000 USD
CY2018Q4 vc Intangible Assets Gross Including Goodwill
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207000000 USD
CY2019Q1 us-gaap Amortization Of Intangible Assets
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8000000 USD
CY2018Q4 us-gaap Finite Lived Intangible Assets Accumulated Amortization
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CY2018Q4 us-gaap Intangible Assets Net Including Goodwill
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129000000 USD
CY2019Q1 vc Intangible Assets Net Including Goodwill Recognized From Business Acquisition
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5000000 USD
CY2018Q1 us-gaap Finite Lived Intangible Assets Gross
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165000000 USD
CY2018Q1 us-gaap Finite Lived Intangible Assets Accumulated Amortization
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-86000000 USD
CY2018Q1 us-gaap Finite Lived Intangible Assets Net
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79000000 USD
CY2018Q1 us-gaap Goodwill Gross
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47000000 USD
CY2018Q1 us-gaap Goodwill
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CY2018Q1 vc Goodwill And Indefinite Lived Intangible Assets Net
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47000000 USD
CY2018Q1 vc Intangible Assets Gross Including Goodwill
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212000000 USD
CY2018Q1 us-gaap Finite Lived Intangible Assets Accumulated Amortization
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CY2018Q1 us-gaap Intangible Assets Net Including Goodwill
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126000000 USD
CY2018Q4 us-gaap Finite Lived Intangible Assets Gross
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160000000 USD
CY2018Q4 us-gaap Finite Lived Intangible Assets Accumulated Amortization
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-78000000 USD
CY2018Q4 us-gaap Finite Lived Intangible Assets Net
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82000000 USD
CY2019Q1 us-gaap Intangible Assets Net Including Goodwill
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126000000 USD
CY2019Q1 us-gaap Finite Lived Intangible Assets Amortization Expense Next Twelve Months
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18000000 USD
CY2019Q1 us-gaap Finite Lived Intangible Assets Amortization Expense Year Two
FiniteLivedIntangibleAssetsAmortizationExpenseYearTwo
16000000 USD
CY2019Q1 us-gaap Finite Lived Intangible Assets Amortization Expense Year Three
FiniteLivedIntangibleAssetsAmortizationExpenseYearThree
11000000 USD
CY2019Q1 us-gaap Finite Lived Intangible Assets Amortization Expense Year Four
FiniteLivedIntangibleAssetsAmortizationExpenseYearFour
11000000 USD
CY2019Q1 us-gaap Finite Lived Intangible Assets Amortization Expense Year Five
FiniteLivedIntangibleAssetsAmortizationExpenseYearFive
8000000 USD
CY2019Q1 us-gaap Nontrade Receivables Current
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15000000 USD
CY2018Q4 vc Contractualengineeringcostrecoveriesnoncurrent
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29000000 USD
CY2018Q4 us-gaap Nontrade Receivables Current
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