| Schedule of Reconciliation of Segment Earnings to Consolidated Income Before Provision for Income Taxes and Equity |
A reconciliation of segment earnings to consolidated income before provision for income taxes and equity in net income of affiliates is shown below (in millions): | | | | | | | | | | | | | | | | | | | | | | | | | Three Months Ended June 28, 2025 | | Seating | | E-Systems | | Other | | Consolidated | | Revenues from external customers | $ | 4,473.9 | | | $ | 1,556.5 | | | $ | — | | | $ | 6,030.4 | | Intersegment revenues (1) | 2.9 | | | 68.7 | | | (71.6) | | | — | | Less (2): | | | | | | | | | Cost of sales | 4,092.0 | | | 1,528.6 | | | (29.3) | | | 5,591.3 | | | Gross margin | 384.8 | | | 96.6 | | | (42.3) | | | 439.1 | | | Selling, general and administrative | 95.8 | | | 37.2 | | | 53.3 | | | 186.3 | | | Amortization of intangibles | 2.9 | | | 1.8 | | | — | | | 4.7 | | | Intersegment support activities | 1.6 | | | 2.4 | | | (4.0) | | | — | | Segment earnings (3) | $ | 284.5 | | | $ | 55.2 | | | $ | (91.6) | | | 248.1 | | | Reconciliation of segment earnings: | | | | | | | | | Interest expense, net | | | | | | | 25.4 | | | Other expense, net | | | | | | | 5.2 | | | Consolidated income before provision for income taxes and equity in net income of affiliates | | | | | | | $ | 217.5 | |
| | | | | | | | | | | | | | | | | | | | | | | | | Three Months Ended June 29, 2024 | | Seating | | E-Systems | | Other | | Consolidated | | Revenues from external customers | $ | 4,447.0 | | | $ | 1,565.4 | | | $ | — | | | $ | 6,012.4 | | Intersegment revenues (1) | 0.7 | | | 58.6 | | | (59.3) | | | — | | Less (2): | | | | | | | | | Cost of sales | 4,073.3 | | | 1,510.8 | | | (20.5) | | | 5,563.6 | | | Gross margin | 374.4 | | | 113.2 | | | (38.8) | | | 448.8 | | | Selling, general and administrative | 87.2 | | | 38.9 | | | 49.2 | | | 175.3 | | | Amortization of intangibles | 9.7 | | | 3.0 | | | — | | | 12.7 | | | Intersegment support activities | 1.5 | | | 1.8 | | | (3.3) | | | — | | Segment earnings (3) | $ | 276.0 | | | $ | 69.5 | | | $ | (84.7) | | | 260.8 | | | Reconciliation of segment earnings: | | | | | | | | | Interest expense, net | | | | | | | 26.9 | | | Other expense, net | | | | | | | 7.4 | | | Consolidated income before provision for income taxes and equity in net income of affiliates | | | | | | | $ | 226.5 | |
| | | | | | | | | | | | | | | | | | | | | | | | | Six Months Ended June 28, 2025 | | Seating | | E-Systems | | Other | | Consolidated | | Revenues from external customers | $ | 8,625.0 | | | $ | 2,965.7 | | | $ | — | | | $ | 11,590.7 | | Intersegment revenues (1) | 4.1 | | | 132.1 | | | (136.2) | | | — | | Less (2): | | | | | | | | | Cost of sales | 7,937.9 | | | 2,906.0 | | | (51.5) | | | 10,792.4 | | | Gross margin | 691.2 | | | 191.8 | | | (84.7) | | | 798.3 | | | Selling, general and administrative | 181.3 | | | 72.7 | | | 104.7 | | | 358.7 | | | Amortization of intangibles | 6.3 | | | 3.6 | | | — | | | 9.9 | | | Intersegment support activities | 3.4 | | | 4.8 | | | (8.2) | | | — | | Segment earnings (3) | $ | 500.2 | | | $ | 110.7 | | | $ | (181.2) | | | 429.7 | | | Reconciliation of segment earnings: | | | | | | | | | Interest expense, net | | | | | | | 51.2 | | | Other expense, net | | | | | | | 25.6 | | | Consolidated income before provision for income taxes and equity in net income of affiliates | | | | | | | $ | 352.9 | |
| | | | | | | | | | | | | | | | | | | | | | | | | Six Months Ended June 29, 2024 | | Seating | | E-Systems | | Other | | Consolidated | | Revenues from external customers | $ | 8,924.6 | | | $ | 3,082.4 | | | $ | — | | | $ | 12,007.0 | | Intersegment revenues (1) | 1.4 | | | 116.2 | | | (117.6) | | | — | | Less (2): | | | | | | | | | Cost of sales | 8,211.8 | | | 2,981.8 | | | (33.5) | | | 11,160.1 | | | Gross margin | 714.2 | | | 216.8 | | | (84.1) | | | 846.9 | | | Selling, general and administrative | 174.2 | | | 80.9 | | | 106.7 | | | 361.8 | | | Amortization of intangibles | 19.5 | | | 8.3 | | | — | | | 27.8 | | | Intersegment support activities | 2.9 | | | 4.0 | | | (6.9) | | | — | | Segment earnings (3) | $ | 517.6 | | | $ | 123.6 | | | $ | (183.9) | | | 457.3 | | | Reconciliation of segment earnings: | | | | | | | | | Interest expense, net | | | | | | | 53.0 | | | Other expense, net | | | | | | | 20.9 | | | Consolidated income before provision for income taxes and equity in net income of affiliates | | | | | | | $ | 383.4 | |
(1) Intersegment transactions are accounted for at values comparable to unaffiliated third-party transactions. (2) The significant expense categories and amounts align with the segment-level information that is regularly provided to the CODM. Intersegment expenses are included within the amounts shown. (3) See definition above.
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| Schedule of Revenues from External Customers and Other Financial Information by Reportable Operating Segment |
Other segment related disclosures are shown below (in millions): | | | | | | | | | | | | | | | | | | | | | | | | | Three Months Ended June 28, 2025 | | Seating | | E-Systems | | Other | | Consolidated | | Depreciation | $ | 92.3 | | | $ | 45.7 | | | $ | 5.5 | | | $ | 143.5 | | | Capital expenditures | 86.4 | | | 35.3 | | | 3.7 | | | 125.4 | |
| | | | | | | | | | | | | | | | | | | | | | | | | Three Months Ended June 29, 2024 | | Seating | | E-Systems | | Other | | Consolidated | | Depreciation | $ | 91.2 | | | $ | 44.9 | | | $ | 5.1 | | | $ | 141.2 | | | Capital expenditures | 82.3 | | | 34.8 | | | 3.7 | | | 120.8 | |
| | | | | | | | | | | | | | | | | | | | | | | | | Six Months Ended June 28, 2025 | | Seating | | E-Systems | | Other | | Consolidated | | Depreciation | $ | 183.1 | | | $ | 92.1 | | | $ | 10.8 | | | $ | 286.0 | | | Capital expenditures | 156.8 | | | 64.0 | | | 8.6 | | | 229.4 | | | Inventories | 866.8 | | | 817.2 | | | — | | | 1,684.0 | | | Total assets | 9,049.8 | | | 4,225.9 | | | 2,046.4 | | | 15,322.1 | |
| | | | | | | | | | | | | | | | | | | | | | | | | Six Months Ended June 29, 2024 | | Seating | | E-Systems | | Other | | Consolidated | | Depreciation | $ | 182.0 | | | $ | 89.2 | | | $ | 10.2 | | | $ | 281.4 | | | Capital expenditures | 145.9 | | | 80.4 | | | 8.1 | | | 234.4 | | | Inventories | 898.9 | | | 803.5 | | | — | | | 1,702.4 | | | Total assets | 8,590.8 | | | 4,070.4 | | | 2,020.7 | | | 14,681.9 | |
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