$VC
VISTEON CORP Stock $vc

$vc Overview Financials Valuation SEC Filings Company Website

2023 Q3 Form 10-Q Financial Statement

#000111133523000040 Filed on August 03, 2023

Income Statement

Concept	2023 Q3	2023 Q2
Revenue	$1.014B	$983.0M
YoY Change	-1.17%	15.92%
Cost Of Revenue	$871.0M	$879.0M
YoY Change	-5.53%	13.57%
Gross Profit	$143.0M	$104.0M
YoY Change	37.5%	40.54%
Gross Profit Margin	14.1%	10.58%
Selling, General & Admin	$52.00M	$52.00M
YoY Change	10.64%	20.93%
% of Gross Profit	36.36%	50.0%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization	$24.00M	$26.00M
YoY Change	-11.11%	4.0%
% of Gross Profit	16.78%	25.0%
Operating Expenses	$52.00M	$62.00M
YoY Change	10.64%	44.19%
Operating Profit	$91.00M	$42.00M
YoY Change	59.65%	35.48%
Interest Expense	$4.000M	-$5.000M
YoY Change	33.33%	-225.0%
% of Operating Profit	4.4%	-11.9%
Other Income/Expense, Net	$3.000M	-$10.00M
YoY Change	-40.0%	-300.0%
Pretax Income	$92.00M	$36.00M
YoY Change	58.62%	20.0%
Income Tax	$21.00M	$13.00M
% Of Pretax Income	22.83%	36.11%
Net Earnings	$66.00M	$20.00M
YoY Change	50.0%	-16.67%
Net Earnings / Revenue	6.51%	2.03%
Basic Earnings Per Share	$2.35	$0.71
Diluted Earnings Per Share	$2.32	$0.70
COMMON SHARES
Basic Shares Outstanding	28.20M shares	28.35M shares
Diluted Shares Outstanding	28.50M shares	28.70M shares

Balance Sheet

Concept	2023 Q3	2023 Q2
SHORT-TERM ASSETS
Cash & Short-Term Investments	$481.0M	$455.0M
YoY Change	32.87%	41.3%
Cash & Equivalents	$481.0M	$455.0M
Short-Term Investments
Other Short-Term Assets	$140.0M	$60.00M
YoY Change	-9.68%	-65.71%
Inventory	$318.0M	$329.0M
Prepaid Expenses	$19.00M	$20.00M
Receivables	$679.0M	$678.0M
Other Receivables	$80.00M	$75.00M
Total Short-Term Assets	$1.622B	$1.597B
YoY Change	1.76%	14.15%
LONG-TERM ASSETS
Property, Plant & Equipment	$377.0M	$489.0M
YoY Change	12.2%	40.52%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments	$36.00M	$37.00M
YoY Change	-29.41%	-35.09%
Other Assets	$124.0M	$74.00M
YoY Change	0.0%	-32.11%
Total Long-Term Assets	$735.0M	$724.0M
YoY Change	0.41%	-3.08%
TOTAL ASSETS
Total Short-Term Assets	$1.622B	$1.597B
Total Long-Term Assets	$735.0M	$724.0M
Total Assets	$2.357B	$2.321B
YoY Change	1.33%	8.15%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable	$595.0M	$564.0M
YoY Change	-7.75%	15.1%
Accrued Expenses	$142.0M	$134.0M
YoY Change	1.43%	14.53%
Deferred Revenue
YoY Change
Short-Term Debt	$0.00	$21.00M
YoY Change	-100.0%
Long-Term Debt Due	$18.00M	$18.00M
YoY Change
Total Short-Term Liabilities	$948.0M	$911.0M
YoY Change	-3.27%	13.73%
LONG-TERM LIABILITIES
Long-Term Debt	$323.0M	$327.0M
YoY Change	-5.0%	-6.3%
Other Long-Term Liabilities	$64.00M	$275.0M
YoY Change	1.59%	358.33%
Total Long-Term Liabilities	$387.0M	$602.0M
YoY Change	-3.97%	47.19%
TOTAL LIABILITIES
Total Short-Term Liabilities	$948.0M	$911.0M
Total Long-Term Liabilities	$387.0M	$602.0M
Total Liabilities	$1.335B	$1.616B
YoY Change	-3.47%	33.55%
SHAREHOLDERS EQUITY
Retained Earnings	$1.908B	$1.842B
YoY Change	8.78%	7.72%
Common Stock	$1.000M	$1.000M
YoY Change	0.0%	0.0%
Preferred Stock
YoY Change
Treasury Stock (at cost)	$2.309B	$2.266B
YoY Change	2.3%	0.31%
Treasury Stock Shares
Shareholders Equity	$724.0M	$705.0M
YoY Change
Total Liabilities & Shareholders Equity	$2.357B	$2.321B
YoY Change	1.33%	8.15%

Cashflow Statement

Concept	2023 Q3	2023 Q2
OPERATING ACTIVITIES
Net Income	$66.00M	$20.00M
YoY Change	50.0%	-16.67%
Depreciation, Depletion And Amortization	$24.00M	$26.00M
YoY Change	-11.11%	4.0%
Cash From Operating Activities	$127.0M	$61.00M
YoY Change	71.62%	-219.61%
INVESTING ACTIVITIES
Capital Expenditures	$31.00M	$30.00M
YoY Change	-272.22%	-300.0%
Acquisitions
YoY Change
Other Investing Activities	$0.00	$1.000M
YoY Change	-100.0%	-80.0%
Cash From Investing Activities	-$31.00M	-$29.00M
YoY Change	138.46%	190.0%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities	-62.00M	-52.00M
YoY Change	1966.67%
NET CHANGE
Cash From Operating Activities	127.0M	61.00M
Cash From Investing Activities	-31.00M	-29.00M
Cash From Financing Activities	-62.00M	-52.00M
Net Change In Cash	34.00M	-20.00M
YoY Change	-41.38%	-67.21%
FREE CASH FLOW
Cash From Operating Activities	$127.0M	$61.00M
Capital Expenditures	$31.00M	$30.00M
Free Cash Flow	$96.00M	$31.00M
YoY Change	4.35%	-186.11%

Facts In Submission

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	us-gaap	Use Of Estimates UseOfEstimates	<div style="text-align:justify"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-style:italic;font-weight:400;line-height:120%">Use of Estimates: </span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The preparation of financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect amounts reported herein. Considerable judgment is involved in making these determinations and the use of different estimates or assumptions could result in significantly different results. Management believes its assumptions and estimates are reasonable and appropriate. However, actual results could differ from those reported herein. Events and changes in circumstances arising after June 30, 2023, as further described in Note 14, "Commitments and Contingencies", will be reflected in management's estimates in future periods.</span></div><div style="text-align:justify"><span><br/></span></div><div style="text-align:justify"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-style:italic;font-weight:400;line-height:120%">Segment: </span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The Company’s reportable segment is Electronics. The Electronics segment provides vehicle cockpit electronics products to customers, including digital instrument clusters, domain controllers with integrated advanced driver assistance systems ("ADAS"), displays, Android-based infotainment systems, and battery management systems. As the Company has one reportable segment, net sales, total assets, depreciation, amortization and capital expenditures are equal to consolidated results.</span></div>
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CY2023Q2	us-gaap	Other Sundry Liabilities Noncurrent OtherSundryLiabilitiesNoncurrent	20000000	usd
CY2022Q4	us-gaap	Other Sundry Liabilities Noncurrent OtherSundryLiabilitiesNoncurrent	16000000	usd
CY2023Q2	us-gaap	Other Liabilities Noncurrent OtherLiabilitiesNoncurrent	73000000	usd
CY2022Q4	us-gaap	Other Liabilities Noncurrent OtherLiabilitiesNoncurrent	64000000	usd
CY2023Q2	us-gaap	Line Of Credit Facility Maximum Borrowing Capacity LineOfCreditFacilityMaximumBorrowingCapacity	75000000	usd
CY2023Q2	vc	Borrowing Capacity Under Swing Line Advances BorrowingCapacityUnderSwingLineAdvances	20000000	usd
CY2023Q2	vc	Amended Loc Agreement Facility Capacity AmendedLocAgreementFacilityCapacity	5000000	usd
	vc	Loc Collateral Percentage For Draws In The Us Dollars LOCCollateralPercentageForDrawsInTheUSDollars	1.03
	vc	Loc Collateral Percentage For Draws In Non Us Currencies LOCCollateralPercentageForDrawsInNonUSCurrencies	1.10
CY2023Q2	us-gaap	Defined Benefit Plan Expected Future Employer Contributions Remainder Of Fiscal Year DefinedBenefitPlanExpectedFutureEmployerContributionsRemainderOfFiscalYear	5000000	usd
	us-gaap	Income Tax Expense Benefit IncomeTaxExpenseBenefit	27000000	usd
CY2023Q2	us-gaap	Liability For Uncertain Tax Positions Noncurrent LiabilityForUncertainTaxPositionsNoncurrent	10000000	usd
CY2023Q2	us-gaap	Minority Interest MinorityInterest	73000000	usd
CY2022Q4	us-gaap	Minority Interest MinorityInterest	99000000	usd
CY2023Q2	us-gaap	Other Comprehensive Income Loss Before Reclassifications Net Of Tax OtherComprehensiveIncomeLossBeforeReclassificationsNetOfTax	-19000000	usd
CY2022Q2	us-gaap	Other Comprehensive Income Loss Before Reclassifications Net Of Tax OtherComprehensiveIncomeLossBeforeReclassificationsNetOfTax	-41000000	usd
	us-gaap	Other Comprehensive Income Loss Before Reclassifications Net Of Tax OtherComprehensiveIncomeLossBeforeReclassificationsNetOfTax	-4000000	usd
	us-gaap	Other Comprehensive Income Loss Before Reclassifications Net Of Tax OtherComprehensiveIncomeLossBeforeReclassificationsNetOfTax	-37000000	usd
CY2023Q2	us-gaap	Reclassification From Accumulated Other Comprehensive Income Current Period Net Of Tax ReclassificationFromAccumulatedOtherComprehensiveIncomeCurrentPeriodNetOfTax	3000000	usd
CY2022Q2	us-gaap	Reclassification From Accumulated Other Comprehensive Income Current Period Net Of Tax ReclassificationFromAccumulatedOtherComprehensiveIncomeCurrentPeriodNetOfTax	1000000	usd
	us-gaap	Reclassification From Accumulated Other Comprehensive Income Current Period Net Of Tax ReclassificationFromAccumulatedOtherComprehensiveIncomeCurrentPeriodNetOfTax	4000000	usd
	us-gaap	Reclassification From Accumulated Other Comprehensive Income Current Period Net Of Tax ReclassificationFromAccumulatedOtherComprehensiveIncomeCurrentPeriodNetOfTax	1000000	usd
	us-gaap	Other Comprehensive Income Defined Benefit Plans Net Unamortized Gain Loss Arising During Period Tax OtherComprehensiveIncomeDefinedBenefitPlansNetUnamortizedGainLossArisingDuringPeriodTax	1000000	usd
CY2022Q2	us-gaap	Other Comprehensive Income Defined Benefit Plans Net Unamortized Gain Loss Arising During Period Tax OtherComprehensiveIncomeDefinedBenefitPlansNetUnamortizedGainLossArisingDuringPeriodTax	1000000	usd
	us-gaap	Other Comprehensive Income Defined Benefit Plans Net Unamortized Gain Loss Arising During Period Tax OtherComprehensiveIncomeDefinedBenefitPlansNetUnamortizedGainLossArisingDuringPeriodTax	1000000	usd
CY2023Q2	us-gaap	Other Comprehensive Income Defined Benefit Plans Net Unamortized Gain Loss Arising During Period Tax OtherComprehensiveIncomeDefinedBenefitPlansNetUnamortizedGainLossArisingDuringPeriodTax	1000000	usd
CY2023Q2	us-gaap	Stock Repurchase Program Authorized Amount1 StockRepurchaseProgramAuthorizedAmount1	300000000	usd
	us-gaap	Stock Repurchased During Period Shares StockRepurchasedDuringPeriodShares	211779000000	shares
	us-gaap	Treasury Stock Value Acquired Cost Method TreasuryStockValueAcquiredCostMethod	141660000	usd
CY2023Q2	us-gaap	Net Income Loss NetIncomeLoss	20000000	usd
CY2022Q2	us-gaap	Net Income Loss NetIncomeLoss	24000000	usd
	us-gaap	Net Income Loss NetIncomeLoss	46000000	usd
CY2023Q2	us-gaap	Weighted Average Number Of Shares Outstanding Basic WeightedAverageNumberOfSharesOutstandingBasic	28300000	shares
CY2022Q2	us-gaap	Weighted Average Number Of Shares Outstanding Basic WeightedAverageNumberOfSharesOutstandingBasic	28100000	shares
	us-gaap	Weighted Average Number Of Shares Outstanding Basic WeightedAverageNumberOfSharesOutstandingBasic	28300000	shares
	us-gaap	Weighted Average Number Of Shares Outstanding Basic WeightedAverageNumberOfSharesOutstandingBasic	28100000	shares
CY2023Q2	us-gaap	Incremental Common Shares Attributable To Call Options And Warrants IncrementalCommonSharesAttributableToCallOptionsAndWarrants	400000	shares
CY2022Q2	us-gaap	Incremental Common Shares Attributable To Call Options And Warrants IncrementalCommonSharesAttributableToCallOptionsAndWarrants	300000	shares
	us-gaap	Incremental Common Shares Attributable To Call Options And Warrants IncrementalCommonSharesAttributableToCallOptionsAndWarrants	400000	shares
	us-gaap	Incremental Common Shares Attributable To Call Options And Warrants IncrementalCommonSharesAttributableToCallOptionsAndWarrants	400000	shares
CY2023Q2	us-gaap	Weighted Average Number Of Diluted Shares Outstanding WeightedAverageNumberOfDilutedSharesOutstanding	28700000	shares
CY2022Q2	us-gaap	Weighted Average Number Of Diluted Shares Outstanding WeightedAverageNumberOfDilutedSharesOutstanding	28400000	shares
	us-gaap	Weighted Average Number Of Diluted Shares Outstanding WeightedAverageNumberOfDilutedSharesOutstanding	28700000	shares
	us-gaap	Weighted Average Number Of Diluted Shares Outstanding WeightedAverageNumberOfDilutedSharesOutstanding	28500000	shares
CY2023Q2	us-gaap	Earnings Per Share Basic EarningsPerShareBasic	0.71
CY2022Q2	us-gaap	Earnings Per Share Basic EarningsPerShareBasic	0.85
	us-gaap	Earnings Per Share Basic EarningsPerShareBasic	1.91
	us-gaap	Earnings Per Share Basic EarningsPerShareBasic	1.64
CY2023Q2	us-gaap	Earnings Per Share Diluted EarningsPerShareDiluted	0.70
CY2022Q2	us-gaap	Earnings Per Share Diluted EarningsPerShareDiluted	0.85
	us-gaap	Earnings Per Share Diluted EarningsPerShareDiluted	1.88
	us-gaap	Earnings Per Share Diluted EarningsPerShareDiluted	1.61
CY2023Q2	us-gaap	Debt Instrument Fair Value DebtInstrumentFairValue	337000000	usd
CY2022Q4	us-gaap	Debt Instrument Fair Value DebtInstrumentFairValue	336000000	usd
CY2014Q2	us-gaap	Revenue From Contract With Customer Excluding Assessed Tax RevenueFromContractWithCustomerExcludingAssessedTax	12000000	usd
CY2022Q4	us-gaap	Product Warranty Accrual ProductWarrantyAccrual	51000000	usd
CY2021Q4	us-gaap	Product Warranty Accrual ProductWarrantyAccrual	50000000	usd
	us-gaap	Product Warranty Accrual Period Increase Decrease ProductWarrantyAccrualPeriodIncreaseDecrease	25000000	usd
	us-gaap	Product Warranty Accrual Period Increase Decrease ProductWarrantyAccrualPeriodIncreaseDecrease	7000000	usd
	us-gaap	Product Warranty Accrual Preexisting Increase Decrease ProductWarrantyAccrualPreexistingIncreaseDecrease	3000000	usd
	us-gaap	Standard And Extended Product Warranty Accrual Foreign Currency Translation Gain Loss StandardAndExtendedProductWarrantyAccrualForeignCurrencyTranslationGainLoss	0	usd
	us-gaap	Standard And Extended Product Warranty Accrual Foreign Currency Translation Gain Loss StandardAndExtendedProductWarrantyAccrualForeignCurrencyTranslationGainLoss	3000000	usd
	us-gaap	Product Warranty Accrual Payments ProductWarrantyAccrualPayments	7000000	usd
	us-gaap	Product Warranty Accrual Payments ProductWarrantyAccrualPayments	10000000	usd
CY2023Q2	us-gaap	Product Warranty Accrual ProductWarrantyAccrual	69000000	usd
CY2022Q2	us-gaap	Product Warranty Accrual ProductWarrantyAccrual	47000000	usd
CY2023Q2	us-gaap	Revenue From Contract With Customer Excluding Assessed Tax RevenueFromContractWithCustomerExcludingAssessedTax	983000000	usd
CY2022Q2	us-gaap	Revenue From Contract With Customer Excluding Assessed Tax RevenueFromContractWithCustomerExcludingAssessedTax	848000000	usd
	us-gaap	Revenue From Contract With Customer Excluding Assessed Tax RevenueFromContractWithCustomerExcludingAssessedTax	1950000000	usd
	us-gaap	Revenue From Contract With Customer Excluding Assessed Tax RevenueFromContractWithCustomerExcludingAssessedTax	1666000000	usd
CY2023Q2	us-gaap	Revenue From Contract With Customer Excluding Assessed Tax RevenueFromContractWithCustomerExcludingAssessedTax	983000000	usd
CY2022Q2	us-gaap	Revenue From Contract With Customer Excluding Assessed Tax RevenueFromContractWithCustomerExcludingAssessedTax	848000000	usd
	us-gaap	Revenue From Contract With Customer Excluding Assessed Tax RevenueFromContractWithCustomerExcludingAssessedTax	1950000000	usd
	us-gaap	Revenue From Contract With Customer Excluding Assessed Tax RevenueFromContractWithCustomerExcludingAssessedTax	1666000000	usd

Files In Submission

Name	View Source	Status
0001111335-23-000040-index-headers.html	Edgar Link	pending
0001111335-23-000040-index.html	Edgar Link	pending
0001111335-23-000040.txt	Edgar Link	pending
0001111335-23-000040-xbrl.zip	Edgar Link	pending
ex-311q2202310xq.htm	Edgar Link	pending
ex-312q2202310xq.htm	Edgar Link	pending
ex-321q2202310xq.htm	Edgar Link	pending
ex-322q2202310xq.htm	Edgar Link	pending
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MetaLinks.json	Edgar Link	pending
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report.css	Edgar Link	pending
Show.js	Edgar Link	pending
vc-20230630.htm	Edgar Link	pending
vc-20230630.xsd	Edgar Link	pending
vc-20230630_g1.jpg	Edgar Link	pending
vc-20230630_g2.jpg	Edgar Link	pending
visteon-citiamendmentno7xe.htm	Edgar Link	pending
vc-20230630_def.xml	Edgar Link	unprocessable
vc-20230630_lab.xml	Edgar Link	unprocessable
vc-20230630_pre.xml	Edgar Link	unprocessable
vc-20230630_htm.xml	Edgar Link	completed
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vc-20230630_cal.xml	Edgar Link	unprocessable

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$VC
VISTEON CORP Stock $vc

2023 Q3 Form 10-Q Financial Statement

#000111133523000040 Filed on August 03, 2023

Income Statement

Balance Sheet

Cashflow Statement

Facts In Submission

Files In Submission

$VC VISTEON CORP Stock $vc

2023 Q3 Form 10-Q Financial Statement

#000111133523000040 Filed on August 03, 2023

Income Statement

Balance Sheet

Cashflow Statement

Facts In Submission

Files In Submission

$VC
VISTEON CORP Stock $vc