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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
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EX-10.1 - VISTEON CORPORATION 2010 SUPPLEMENTAL EXECUTIVE RETIREMENT PLAN - VISTEON CORPd247681dex101.htm
v2.3.0.15
Property and Equipment
9 Months Ended
Sep. 30, 2011
Property and Equipment [Abstract] 
Property and Equipment

NOTE 4. Property and Equipment

Property and equipment is stated at cost and is depreciated over the estimated useful lives of the assets, principally using the straight-line method. A summary of Property and equipment, net is provided below:

 

                 
    September 30
2011
    December 31
2010
 
    (Dollars in Millions)  

Land

  $ 199     $ 207  

Buildings and improvements

    320       312  

Machinery, equipment and other

    1,038       935  

Construction in progress

    114       93  
   

 

 

   

 

 

 

Total property and equipment

  $ 1,671     $ 1,547  

Accumulated depreciation

    (229     (55
   

 

 

   

 

 

 
    $ 1,442     $ 1,492  

Product tooling, net of amortization

    86       84  
   

 

 

   

 

 

 

Property and equipment, net

  $ 1,528     $ 1,576  
   

 

 

   

 

 

 

Property and equipment is depreciated principally using the straight-line method of depreciation over an estimated useful life. Generally, buildings and improvements are depreciated over a 40-year estimated useful life and machinery, equipment and other assets are depreciated over estimated useful lives ranging from 3 to 15 years. Product tooling is amortized using the straight-line method over the estimated life of the tool, generally not exceeding six years.

Depreciation and amortization expenses are summarized as follows:

 

                                 
    Three Months Ended
September 30
    Nine Months Ended
September 30
 
    Successor     Predecessor     Successor     Predecessor  
    2011     2010     2011     2010  
          (Dollars in Millions)        

Depreciation

  $ 69     $ 62     $ 200     $ 191  

Amortization

    5       5       14       16  
   

 

 

   

 

 

   

 

 

   

 

 

 
    $ 74     $ 67     $ 214     $ 207