Visteon Announces Third-Quarter 2019 Results
|
VISTEON CORPORATION AND SUBSIDIARIES |
|
CONSOLIDATED BALANCE SHEETS |
| (Dollars in Millions) |
| |
| |
(Unaudited) | | |
| |
September 30 | |
December 31 |
| |
2019 | |
2018 |
|
ASSETS | | | |
| Cash and equivalents | $ | 443 | | | $ | 463 | |
| Restricted cash | 3 | | | 4 | |
| Accounts receivable, net | 457 | | | 486 | |
| Inventories, net | 192 | | | 184 | |
| Other current assets | 192 | | | 159 | |
| Total current assets | 1,287 | | | 1,296 | |
| | | | |
| Property and equipment, net | 410 | | | 397 | |
| Intangible assets, net | 124 | | | 129 | |
| Right to use assets, net | 156 | | | — | |
| Investments in non-consolidated affiliates | 48 | | | 42 | |
| Other non-current assets | 139 | | | 143 | |
| Total assets | $ | 2,164 | | | $ | 2,007 | |
| | | | |
|
LIABILITIES AND EQUITY | | | |
| Short-term debt | $ | 47 | | | $ | 57 | |
| Accounts payable | 464 | | | 436 | |
| Accrued employee liabilities | 73 | | | 67 | |
| Current lease liabilities | 28 | | | — | |
| Other current liabilities | 150 | | | 161 | |
| Total current liabilities | 762 | | | 721 | |
| | | | |
| Long-term debt | 348 | | | 348 | |
| Employee benefits | 247 | | | 257 | |
| Non-current lease liabilities | 132 | | | — | |
| Deferred tax liabilities | 27 | | | 23 | |
| Other non-current liabilities | 64 | | | 76 | |
| | | | |
| Stockholders’ equity: | | | |
| Common stock | 1 | | | 1 | |
| Additional paid-in capital | 1,340 | | | 1,335 | |
| Retained earnings | 1,644 | | | 1,609 | |
| Accumulated other comprehensive loss | (234 | ) | | (216 | ) |
| Treasury stock | (2,277 | ) | | (2,264 | ) |
| Total Visteon Corporation stockholders’ equity | 474 | | | 465 | |
| Non-controlling interests | 110 | | | 117 | |
| Total equity | 584 | | | 582 | |
| Total liabilities and equity | $ | 2,164 | | | $ | 2,007 | |
