Attached files

file filename
10-Q - FORM 10-Q - VISTEON CORPd247681d10q.htm
EX-10.2 - VISTEON CORPORATION SAVINGS PARITY PLAN - VISTEON CORPd247681dex102.htm
EX-31.2 - RULE 13A-14(A) CERTIFICATION OF CHIEF FINANCIAL OFFICER - VISTEON CORPd247681dex312.htm
EX-32.2 - SECTION 1350 CERTIFICATION OF CHIEF FINANCIAL OFFICER - VISTEON CORPd247681dex322.htm
EX-32.1 - SECTION 1350 CERTIFICATION OF CHIEF EXECUTIVE OFFICER - VISTEON CORPd247681dex321.htm
EX-10.3 - CHANGE IN CONTROL AGREEMENT - VISTEON CORPd247681dex103.htm
EX-31.1 - RULE 13A-14(A) CERTIFICATION OF CHIEF EXECUTIVE OFFICER - VISTEON CORPd247681dex311.htm
EXCEL - IDEA: XBRL DOCUMENT - VISTEON CORPFinancial_Report.xls
XML - IDEA: XBRL DOCUMENT - VISTEON CORPR6.htm
XML - IDEA: XBRL DOCUMENT - VISTEON CORPR4.htm
XML - IDEA: XBRL DOCUMENT - VISTEON CORPR7.htm
XML - IDEA: XBRL DOCUMENT - VISTEON CORPR3.htm
XML - IDEA: XBRL DOCUMENT - VISTEON CORPR9.htm
XML - IDEA: XBRL DOCUMENT - VISTEON CORPR2.htm
XML - IDEA: XBRL DOCUMENT - VISTEON CORPR1.htm
XML - IDEA: XBRL DOCUMENT - VISTEON CORPR8.htm
XML - IDEA: XBRL DOCUMENT - VISTEON CORPR5.htm
XML - IDEA: XBRL DOCUMENT - VISTEON CORPR13.htm
XML - IDEA: XBRL DOCUMENT - VISTEON CORPR17.htm
XML - IDEA: XBRL DOCUMENT - VISTEON CORPR12.htm
XML - IDEA: XBRL DOCUMENT - VISTEON CORPR16.htm
XML - IDEA: XBRL DOCUMENT - VISTEON CORPR11.htm
XML - IDEA: XBRL DOCUMENT - VISTEON CORPR14.htm
XML - IDEA: XBRL DOCUMENT - VISTEON CORPR10.htm
XML - IDEA: XBRL DOCUMENT - VISTEON CORPR18.htm
XML - IDEA: XBRL DOCUMENT - VISTEON CORPR19.htm
XML - IDEA: XBRL DOCUMENT - VISTEON CORPR15.htm
EX-10.1 - VISTEON CORPORATION 2010 SUPPLEMENTAL EXECUTIVE RETIREMENT PLAN - VISTEON CORPd247681dex101.htm
v2.3.0.15
Segment Information
9 Months Ended
Sep. 30, 2011
Segment Information [Abstract] 
Segment Information

NOTE 15. Segment Information

Segments are defined as components of an enterprise for which discrete financial information is available that is evaluated regularly by the chief operating decision-maker, or a decision-making group, in deciding the allocation of resources and in assessing performance. The Company’s chief operating decision making group (the “CODM Group”), comprised of the Chief Executive Officer (“CEO”) and Chief Financial Officer (“CFO”), evaluates the performance of the Company’s segments primarily based on net sales, before elimination of inter-company shipments, gross margin and operating assets. Gross margin is defined as total sales less costs to manufacture and product development and engineering expenses. Operating assets include inventories and property and equipment utilized in the manufacture of the segments’ products.

In April 2011, the Company announced a new operating structure for use by the CODM Group in managing the business based on specific global product lines rather than reporting at a broader global product group level as was historically utilized by the CODM Group. Under the historical global product group reporting, the results of each of the Company’s facilities were grouped for reporting purposes into segments based on the predominant product line offering of the respective facility, as separate product line results within each facility were not historically available. During the second quarter of 2011 the Company completed the process of realigning systems and reporting structures to facilitate financial reporting under the revised organizational structure such that the results for each product line within each facility can be separately identified.

The Company’s new operating structure is organized by global product lines, including: Climate, Electronics, Interiors and Lighting. Accordingly, the results of operations for comparable prior periods have been recast to reflect the new global product line operating structure. These global product lines have financial and operating responsibility over the design, development and manufacture of the Company’s product portfolio. Global customer groups are responsible for the business development of the Company’s product portfolio and overall customer relationships. Certain functions such as procurement, information technology and other administrative activities are managed on a global basis with regional deployment. The Company’s reportable segments are described as follows:

 

   

The Climate product line includes climate air handling modules, powertrain cooling modules, heat exchangers, compressors, fluid transport and engine induction systems.

 

   

The Electronics product line includes audio systems, infotainment systems, driver information systems, powertrain and feature control modules, climate controls and electronic control modules.

 

   

The Interiors product line includes instrument panels, cockpit modules, door trim and floor consoles.

 

   

The Lighting product line includes headlamps, rear combination lamps, center high-mounted stop lamps, fog lamps and electronic control modules.

 

Segment Net Sales and Gross Margin

 

                                                                                 
    Net Sales     Gross Margin  
    Three Months Ended     Nine Months Ended     Three Months Ended     Nine Months Ended  
    September 30     September 30     September 30     September 30  
    Successor    

 

  Predecessor     Successor    

 

  Predecessor     Successor    

 

  Predecessor     Successor    

 

  Predecessor  
    2011          2010     2011          2010     2011          2010     2011          2010  
                                (Dollars in Millions)                              

Climate

  $ 1,003         $ 863     $ 3,040         $ 2,660     $ 79         $ 82     $ 258         $ 325  

Electronics

    338           298       1,047           935       30           (66     105           136  

Interiors

    606           491       1,854           1,641       31           22       116           89  

Lighting

    131           100       394           345       8           1       15           10  

Eliminations

    (41         (50     (147         (144                                
   

 

 

   

 

 

 

 

   

 

 

   

 

 

 

 

   

 

 

   

 

 

 

 

   

 

 

   

 

 

 

 

 

Total products

    2,037           1,702       6,188           5,437       148           39       494           560  

Services

              28                 142                 1                 2  
   

 

 

   

 

 

 

 

   

 

 

   

 

 

 

 

   

 

 

   

 

 

 

 

   

 

 

   

 

 

 

 

 

Total consolidated

  $ 2,037         $ 1,730     $ 6,188         $ 5,579     $ 148         $ 40     $ 494         $ 562  
   

 

 

   

 

 

 

 

   

 

 

   

 

 

 

 

   

 

 

   

 

 

 

 

   

 

 

   

 

 

 

 

 

Segment Operating Assets

 

                                 
    Inventories, net     Property and Equipment,
net
 
    September 30     December 31     September 30     December 31  
    2011     2010     2011     2010  
          (Dollars in Millions)        

Climate

  $ 238     $ 214     $ 938     $ 968  

Electronics

    76       73       147       159  

Interiors

    55       50       213       212  

Lighting

    34       25       108       109  

Eliminations

    3       2              
   

 

 

   

 

 

   

 

 

   

 

 

 

Total segments

    406       364       1,406       1,448  

Reconciling Item

                               

Corporate

                122       128  
   

 

 

   

 

 

   

 

 

   

 

 

 

Total consolidated

  $ 406     $ 364     $ 1,528     $ 1,576