2019 Q4 Form 10-Q Financial Statement

#000111133519000015 Filed on October 24, 2019

View on sec.gov

Income Statement

Concept 2019 Q4 2019 Q3 2018 Q3
Revenue $744.0M $731.0M $681.0M
YoY Change 1.78% 7.34% -10.98%
Cost Of Revenue $638.0M $647.0M $599.0M
YoY Change 0.47% 8.01% -7.99%
Gross Profit $104.0M $84.00M $82.00M
YoY Change 8.33% 2.44% -28.07%
Gross Profit Margin 13.98% 11.49% 12.04%
Selling, General & Admin $54.00M $52.00M $40.00M
YoY Change 0.0% 30.0% -27.27%
% of Gross Profit 51.92% 61.9% 48.78%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $26.00M $25.00M $22.00M
YoY Change 8.33% 13.64% 4.76%
% of Gross Profit 25.0% 29.76% 26.83%
Operating Expenses $51.00M $52.00M $40.00M
YoY Change 2.0% 30.0% -27.27%
Operating Profit $53.00M $32.00M $42.00M
YoY Change 15.22% -23.81% -28.81%
Interest Expense -$3.000M $4.000M $4.000M
YoY Change -250.0% 0.0% 0.0%
% of Operating Profit -5.66% 12.5% 9.52%
Other Income/Expense, Net $2.000M $7.000M
YoY Change -71.43%
Pretax Income $48.00M $31.00M $32.00M
YoY Change 2.13% -3.13% -41.82%
Income Tax $8.000M $13.00M $9.000M
% Of Pretax Income 16.67% 41.94% 28.13%
Net Earnings $39.00M $14.00M $21.00M
YoY Change -13.33% -33.33% -51.16%
Net Earnings / Revenue 5.24% 1.92% 3.08%
Basic Earnings Per Share $1.24 $0.50 $0.71
Diluted Earnings Per Share $1.24 $0.50 $0.71
COMMON SHARES
Basic Shares Outstanding 27.97M shares 28.00M shares 29.30M shares
Diluted Shares Outstanding 28.10M shares 29.50M shares

Balance Sheet

Concept 2019 Q4 2019 Q3 2018 Q3
SHORT-TERM ASSETS
Cash & Short-Term Investments $466.0M $443.0M $439.0M
YoY Change 0.65% 0.91% -40.03%
Cash & Equivalents $466.0M $443.0M $439.0M
Short-Term Investments
Other Short-Term Assets $193.0M $192.0M $192.0M
YoY Change 21.38% 0.0% 6.08%
Inventory $169.0M $192.0M $222.0M
Prepaid Expenses $22.00M $21.00M $37.00M
Receivables $514.0M $457.0M $448.0M
Other Receivables $118.0M $119.0M $107.0M
Total Short-Term Assets $1.345B $1.287B $1.304B
YoY Change 3.78% -1.3% -18.3%
LONG-TERM ASSETS
Property, Plant & Equipment $436.0M $410.0M $384.0M
YoY Change 9.82% 6.77% 6.37%
Goodwill $0.00 $0.00
YoY Change
Intangibles $81.00M $78.00M
YoY Change -1.22%
Long-Term Investments $48.00M $48.00M $39.00M
YoY Change 14.29% 23.08% -2.5%
Other Assets $150.0M $139.0M $141.0M
YoY Change 4.9% -1.42% -8.44%
Total Long-Term Assets $926.0M $877.0M $694.0M
YoY Change 30.24% 26.37% 1.61%
TOTAL ASSETS
Total Short-Term Assets $1.345B $1.287B $1.304B
Total Long-Term Assets $926.0M $877.0M $694.0M
Total Assets $2.271B $2.164B $1.998B
YoY Change 13.15% 8.31% -12.33%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $511.0M $464.0M $432.0M
YoY Change 17.2% 7.41% 0.7%
Accrued Expenses $120.0M $116.0M $72.00M
YoY Change 50.0% 61.11% -31.43%
Deferred Revenue
YoY Change
Short-Term Debt $37.00M $47.00M $32.00M
YoY Change -35.09% 46.88% -25.58%
Long-Term Debt Due $0.00
YoY Change -100.0%
Total Short-Term Liabilities $798.0M $762.0M $695.0M
YoY Change 10.68% 9.64% -14.2%
LONG-TERM LIABILITIES
Long-Term Debt $348.0M $348.0M $348.0M
YoY Change 0.0% 0.0% 0.29%
Other Long-Term Liabilities $72.00M $64.00M $86.00M
YoY Change -5.26% -25.58% 38.71%
Total Long-Term Liabilities $420.0M $412.0M $434.0M
YoY Change -0.94% -5.07% 6.11%
TOTAL LIABILITIES
Total Short-Term Liabilities $798.0M $762.0M $695.0M
Total Long-Term Liabilities $420.0M $412.0M $434.0M
Total Liabilities $1.218B $1.174B $1.129B
YoY Change 6.38% 3.99% -7.38%
SHAREHOLDERS EQUITY
Retained Earnings $1.679B $1.644B $1.566B
YoY Change 4.35% 4.98% 10.28%
Common Stock $1.000M $1.000M $1.000M
YoY Change 0.0% 0.0% 0.0%
Preferred Stock
YoY Change
Treasury Stock (at cost) $2.275B $2.277B $2.214B
YoY Change 0.49% 2.85% 13.83%
Treasury Stock Shares 27.04M shares
Shareholders Equity $480.0M $474.0M $476.0M
YoY Change
Total Liabilities & Shareholders Equity $2.271B $2.164B $1.998B
YoY Change 13.15% 8.31% -12.33%

Cashflow Statement

Concept 2019 Q4 2019 Q3 2018 Q3
OPERATING ACTIVITIES
Net Income $39.00M $14.00M $21.00M
YoY Change -13.33% -33.33% -51.16%
Depreciation, Depletion And Amortization $26.00M $25.00M $22.00M
YoY Change 8.33% 13.64% 4.76%
Cash From Operating Activities $65.00M $57.00M -$19.00M
YoY Change -32.99% -400.0% -142.22%
INVESTING ACTIVITIES
Capital Expenditures -$33.00M -$38.00M -$27.00M
YoY Change 6.45% 40.74% 22.73%
Acquisitions
YoY Change
Other Investing Activities $1.000M $9.000M $26.00M
YoY Change -65.38% 2500.0%
Cash From Investing Activities -$32.00M -$29.00M -$1.000M
YoY Change 3.23% 2800.0% -95.24%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net $50.00M
YoY Change -60.0%
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -14.00M -12.00M -61.00M
YoY Change -65.85% -80.33% 134.62%
NET CHANGE
Cash From Operating Activities 65.00M 57.00M -19.00M
Cash From Investing Activities -32.00M -29.00M -1.000M
Cash From Financing Activities -14.00M -12.00M -61.00M
Net Change In Cash 19.00M 16.00M -81.00M
YoY Change -24.0% -119.75% 3950.0%
FREE CASH FLOW
Cash From Operating Activities $65.00M $57.00M -$19.00M
Capital Expenditures -$33.00M -$38.00M -$27.00M
Free Cash Flow $98.00M $95.00M $8.000M
YoY Change -23.44% 1087.5% -88.06%

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CY2018Q4 us-gaap Deferred Tax Liabilities Noncurrent
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us-gaap Increase Decrease In Inventories
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us-gaap Payments Of Capital Distribution
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109000000 USD
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96000000 USD
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us-gaap Increase Decrease In Other Operating Capital Net
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104000000 USD
us-gaap Net Cash Provided By Used In Operating Activities
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118000000 USD
us-gaap Net Cash Provided By Used In Operating Activities
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107000000 USD
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16000000 USD
us-gaap Payments For Proceeds From Other Investing Activities
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us-gaap Payments For Proceeds From Other Investing Activities
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us-gaap Net Cash Provided By Used In Investing Activities
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us-gaap Net Cash Provided By Used In Investing Activities
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us-gaap Payments For Repurchase Of Common Stock
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us-gaap Payments For Repurchase Of Common Stock
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us-gaap Net Cash Provided By Used In Financing Activities
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us-gaap Net Cash Provided By Used In Financing Activities
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us-gaap Effect Of Exchange Rate On Cash And Cash Equivalents
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us-gaap Cash And Cash Equivalents Period Increase Decrease
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CY2018Q4 us-gaap Cash And Cash Equivalents At Carrying Value Including Discontinued Operations
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467000000 USD
CY2017Q4 us-gaap Cash And Cash Equivalents At Carrying Value Including Discontinued Operations
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709000000 USD
CY2019Q3 us-gaap Restricted Cash And Cash Equivalents
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446000000 USD
CY2018Q3 us-gaap Restricted Cash And Cash Equivalents
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442000000 USD
CY2018Q4 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
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582000000 USD
CY2019Q1 us-gaap Profit Loss
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5000000 USD
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2000000 USD
CY2018Q3 us-gaap Profit Loss
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24000000 USD
CY2018Q3 us-gaap Other Comprehensive Income Loss Net Of Tax
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-16000000 USD
CY2019Q3 us-gaap Profit Loss
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18000000 USD
CY2018Q3 us-gaap Adjustments To Additional Paid In Capital Sharebased Compensation Requisite Service Period Recognition Value
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2000000 USD
CY2019Q3 us-gaap Other Comprehensive Income Loss Net Of Tax
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CY2019Q3 us-gaap Adjustments To Additional Paid In Capital Sharebased Compensation Requisite Service Period Recognition Value
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2000000 USD
vc Pension Financing Benefitsnet
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7000000 USD
CY2019Q3 us-gaap Minority Interest Decrease From Distributions To Noncontrolling Interest Holders
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7000000 USD
CY2019Q2 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
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593000000 USD
CY2018Q3 us-gaap Payments For Repurchase Of Common Stock
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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
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CY2019Q2 us-gaap Adjustments To Additional Paid In Capital Sharebased Compensation Requisite Service Period Recognition Value
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2000000 USD
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584000000 USD
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761000000 USD
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CY2018Q1 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
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615000000 USD
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CY2018Q2 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
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616000000 USD
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591000000 USD
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<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:41%;"/><td style="width:1%;"/><td style="width:12%;"/><td style="width:1%;"/><td style="width:1%;"/><td style="width:1%;"/><td style="width:12%;"/><td style="width:1%;"/><td style="width:1%;"/><td style="width:1%;"/><td style="width:12%;"/><td style="width:1%;"/><td style="width:1%;"/><td style="width:1%;"/><td style="width:12%;"/><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 September 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;">Nine Months Ended<br/>September 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;">$</span></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>2</span></span></div></td><td style="vertical-align:bottom;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"> </span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">$</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;">$</span></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>7</span></span></div></td><td style="vertical-align:bottom;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"> </span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">$</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>9</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;">Gain on non-consolidated affiliate transactions, net</span></div></td><td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;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;border-bottom:1px solid #000000;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 colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;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;border-bottom:1px solid #000000;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 colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;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;border-bottom:1px solid #000000;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 colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;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;border-bottom:1px solid #000000;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;"><br/></span></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">$</span></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>2</span></span></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;border-top:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">$</span></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;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>7</span></span></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;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;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;border-top:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">$</span></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>7</span></span></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;border-top:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"> </span></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">$</span></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;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>17</span></span></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;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;">nine</span><span style="font-family:inherit;font-size:10pt;"> months ended </span><span style="font-family:inherit;font-size:10pt;">September 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 19, "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><div style="line-height:120%;text-align:justify;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">On September 1, 2018, Visteon acquired an additional 1% ownership interest in Changchun Visteon FAWAY Auto Electronics Co., Ltd, ("VFAE" or the "VFAE acquisition"), a former non-consolidated affiliate, resulting in a total 51% controlling interest and a non-cash gain of $4 million as further described in Note 17, "Acquisitions."</span></div><div style="line-height:120%;text-align:justify;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div>
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vc Transformation Costs
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vc Transformation Costs
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us-gaap Net Income Loss
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us-gaap Allocated Share Based Compensation Expense
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us-gaap Allocated Share Based Compensation Expense
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CY2019Q3 us-gaap Income Tax Expense Benefit
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16000000 USD
us-gaap Income Tax Expense Benefit
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us-gaap Interest Income Expense Net
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us-gaap Interest Income Expense Net
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CY2019Q3 us-gaap Net Income Loss Attributable To Noncontrolling Interest
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us-gaap Net Income Loss Attributable To Noncontrolling Interest
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us-gaap Net Income Loss Attributable To Noncontrolling Interest
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us-gaap Restructuring Charges
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us-gaap Restructuring Charges
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vc Adjustments To Ebitda For Discontinued Operations
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CY2019Q3 vc Equityinnetincomeofnonconsolidatedaffiliates
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vc Adjusted Ebitda
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us-gaap Weighted Average Number Of Diluted Shares Outstanding
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us-gaap Income Loss From Discontinued Operations Net Of Tax Per Basic Share
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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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CY2019Q3 us-gaap Loss Contingency Estimate Of Possible Loss
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CY2019Q3 us-gaap Inventory Raw Materials Net Of Reserves
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26000000 USD
CY2019Q3 us-gaap Inventory Finished Goods Net Of Reserves
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45000000 USD
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34000000 USD
CY2019Q3 us-gaap Inventory Net
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192000000 USD
CY2018Q4 us-gaap Inventory Net
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184000000 USD
CY2019Q3 us-gaap Intangible Assets Net Including Goodwill
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124000000 USD
CY2019Q1 us-gaap Finite Lived Intangible Assets Amortization Expense Next Twelve Months
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18000000 USD
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168000000 USD
CY2019Q3 us-gaap Finite Lived Intangible Assets Accumulated Amortization
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CY2019Q3 us-gaap Finite Lived Intangible Assets Net
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78000000 USD
CY2019Q3 us-gaap Goodwill Gross
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0001111335-19-000015-index-headers.html Edgar Link pending
0001111335-19-000015-index.html Edgar Link pending
0001111335-19-000015.txt Edgar Link pending
0001111335-19-000015-xbrl.zip Edgar Link pending
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FilingSummary.xml Edgar Link unprocessable
Financial_Report.xlsx Edgar Link pending
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report.css Edgar Link pending
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vc-20190930.xsd Edgar Link pending
vc-20190930_cal.xml Edgar Link unprocessable
vc-20190930_def.xml Edgar Link unprocessable
vc-20190930_lab.xml Edgar Link unprocessable
vc-20190930_pre.xml Edgar Link unprocessable
visteonq3201910-q.htm Edgar Link pending
visteonq3201910-q_htm.xml Edgar Link completed