v3.26.1
Business Combinations, Asset Acquisitions, and Joint Venture Formation
 6 Months Ended
Jun. 30, 2026
Business Combination, Asset Acquisition, Transaction between Entities under Common Control, and Joint Venture Formation [Abstract]  
Acquisitions [Text Block]
NOTE 2. Business Acquisition

On June 5, 2026, Visteon acquired all of the equity shares of a software engineering company focused on functional safety and safety systems architecture for cash of $24 million ("Software Architecture Acquisition") not including contingent consideration of up to $16 million. This additional consideration is to be paid if certain financial and operational milestones are achieved. The Software Architecture Acquisition adds strong capabilities in controller software architecture services to OEMs.

The aggregate purchase price was allocated to the assets acquired and liabilities assumed as follows:

(In millions)
Cash$22 
Escrow2 
Total fair value of consideration$24 
Assets acquired:
Cash$4 
Accounts receivable3 
Other current assets1 
Total Assets acquired$8 
Liabilities assumed:
Other liabilities$4 
Total Liabilities assumed$4 
Goodwill$20 

The Software Architecture Acquisition is accounted for as a business combination. The purchase price was recorded on a preliminary basis at estimated fair values, based on management's assessment as of June 5, 2026. These estimates relied on available information, reasonable and supportable assumptions, and when necessary, assistance from a third-party engaged by the Company.

During the measurement period, not to exceed one year from the acquisition date, the Company may adjust estimated or provisional amounts of assets and liabilities if new information is obtained related to facts and circumstances that existed as of the acquisition date. Measurement period adjustments are recorded in the period they are identified. As of June 30, 2026, the final purchase price allocation has not been completed as the Company is still evaluating net working capital adjustments, identification of intangible assets, and the fair value of contingent consideration which may result in a change in total acquisition consideration.

The Company incurred $1 million in costs related to the Software Architecture Acquisition which are classified as Other income (expense), net on the Company's condensed consolidated statements of comprehensive income within the quarter ended June 30, 2026.