LEAR CORP

Listed Company

LEACIK 0000842162NYSELarge AcceleratedMotor Vehicle Parts & AccessoriesDelawareFY ends Dec 31

Period

FY 2025

Revenue

$23.26B

Net Income

$436.80M

Total Assets

$14.84B

Equity

$5.04B

Shares Out

50.73M

Op. Cash Flow

$1.09B

Business

LEAR CORP is a global automotive technology leader that designs, develops and manufactures seating systems and vehicle electrical and electronic systems for original equipment manufacturers. It offers complete seat systems and key seat components (trim, mechanisms, foam, headrests, thermal comfort systems), as well as electrical distribution and connection systems, high- and low-voltage power distribution products (including BDUs), wire harnesses, connectors and electronic controllers with embedded software. The company operates under two reporting segments, Seating and E-Systems, each covering design, engineering, manufacturing and integration. Lear serves all major automotive manufacturers worldwide through a global manufacturing, engineering and just‑in‑time delivery footprint across major automotive producing regions.

Summary from filing dated 2025-02-14

Financials

Consolidated Statement of Income

Year Ended · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Net sales	23,259	23,306	23,467	20,892	19,263
Cost of sales	21,755	21,667	21,757	19,482	17,871
Selling, general and administrative expenses	708	703	715	685	643
Amortization of intangible assets	20	49	63	71	73
Interest expense, net	101	106	101	99	—
Other expense, net	51	49	55	46	100,000
Consolidated income before provision for income taxes and equity in net income of affiliates	625	733	777	509	584
Provision for income taxes	150	191	181	134	138
Equity in net income of affiliates	−52	−50	−49	−33	−16
Consolidated net income	527	592	646	409	462
Less: Net income attributable to noncontrolling interests	90	85	73	81	88
Net income attributable to Lear	437	507	573	328	374
Basic net income per share attributable to Lear (in dollars per share)	8.22	9.02	9.73	5.49	6.22
Diluted net income per share attributable to Lear (in dollars per share)	8.15	8.97	9.68	5.47	6.19
Average common shares outstanding (in shares)	53	56	59	60	60
Average diluted shares outstanding (in shares)	54	56	59	60	60

Consolidated Balance Sheet

As of · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Cash and cash equivalents	1,033	1,053	1,196	1,115	1,318
Accounts receivable	3,903	3,589	3,681	3,452	3,042
Inventories	1,693	1,601	1,758	1,574	1,572
Other	1,034	941	1,001	854	834
Total current assets	7,663	7,184	7,637	6,994	6,765
Property, plant and equipment, net	2,913	2,833	2,977	2,854	2,720
Goodwill	1,778	1,699	1,738	1,661	1,658
Other	2,489	2,311	2,343	2,254	2,209
Total long-term assets	7,180	6,843	7,059	6,769	6,587
Total assets	14,843	14,028	14,696	13,763	13,352
Short-term borrowings	28	27	28	10	0
Accounts payable and drafts	3,417	3,251	3,434	3,206	2,952
Accrued liabilities	2,219	2,168	2,205	1,962	1,807
Current portion of long-term debt	4	2	300,000	11	800,000
Total current liabilities	5,667	5,447	5,667	5,188	4,760
Long-term debt	2,712	2,733	2,743	2,591	2,595
Other	1,264	1,246	1,225	1,153	1,189
Total long-term liabilities	3,975	3,980	3,968	3,744	3,784
Preferred stock, 100,000,000 shares authorized (including 10,896,250 shares of Series A convertible preferred stock authorized); no shares outstanding	0	0	0	0	0
Common stock, $0.01 par value, 300,000,000 shares authorized; 64,571,405 shares issued as of December 31, 2025 and 2024	600,000	600,000	600,000	600,000	600,000
Additional paid-in capital	1,111	1,077	1,051	1,023	1,019
Common stock held in treasury, 13,924,658 and 10,993,851 shares as of December 31, 2025 and 2024, respectively, at cost	−1,721	−1,424	−1,045	−754	−679
Retained earnings	6,189	5,931	5,601	5,214	5,073
Accumulated other comprehensive loss	−544	−1,134	−689	−805	−770
Lear Corporation shareholders' equity	5,035	4,452	4,919	4,679	4,643
Noncontrolling interests	166	149	142	152	165
Equity	5,201	4,601	5,061	4,830	4,808
Total liabilities and equity	14,843	14,028	14,696	13,763	13,352

Consolidated Statement of Cash Flows

Year Ended · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Impairment charges	64	11	29	29	20
Deferred tax benefit	−117	−57	−59	−49	−56
Depreciation and amortization	604	621	604	577	574
Stock-based compensation	66	64	68	52	60
Net change in recoverable customer engineering, development and tooling	75	−18	−42	−1	−29
Net change in working capital items (see below)	−167	−129	45	−18	—
Changes in other long-term assets	16	0	7	10	—
Changes in other long-term liabilities	32	25	17	8	—
Non-cash loss on disposal of a non-core business	3	24	0	0	—
Other, net	39	37	−16	39	23
Net cash provided by operating activities	1,089	1,120	1,249	1,021	670
Additions to property, plant and equipment	−562	−559	−627	−638	−585
Acquisitions, net of cash acquired	0	−800,000	−175	−188	0
Other, net	45	17	40	−4	−62
Net cash used in investing activities	−517	−543	−762	−830	−647
Short-term borrowings, net	0	0	18	8	0
Term loan repayments	−50	−50	0	0	—
Term loan borrowings	0	0	150	0	0
Repurchases of common stock	−325	−417	−297	−100	−100
Dividends paid to Lear Corporation shareholders	−165	−174	−182	−186	−107
Dividends paid to noncontrolling interests	−87	−75	−79	−85	−81
Other, net	8	21	−30	−25	28
Net cash used in financing activities	−619	−694	−420	−387	−14
Effect of foreign currency translation	26	−26	13	−8	−3
Net Change in Cash, Cash Equivalents and Restricted Cash	−20	−143	81	−204	7
Accounts receivable	−89	−73	−148	−519	161
Inventories	900,000	77	−118	−30	−213
Accounts payable (including $15.4 million of cash paid in 2023 in conjunction with the acquisition of IGB to settle pre-existing accounts payable)	−29	−49	162	369	−130
Accrued liabilities and other	−50	−84	149	162	−169
Cash paid for interest	114	116	112	97	92
Cash paid for income taxes, net of refunds received of $29.5 million in 2025, $24.1 million in 2024 and $15.7 million in 2023	277	268	218	195	148

Filings

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