VISTEON CORPVC

VISTEON CORP Segments Disclosure

10-KFiled Feb 19, 20263 min read
Segment Information and Revenue Recognition
The Company manages the business activities on a consolidated basis and operates in one reportable segment. The Company’s reportable segment is Electronics. The Electronics segment provides vehicle cockpit electronics products to customers, including digital instrument clusters, information displays, infotainment, cockpit domain controllers, CognitoAITM, battery management systems, high voltage power electronics, and engineering services. As the Company has one reportable segment, net sales, total assets, depreciation, amortization and capital expenditures are equal to consolidated results.

Financial results for the Company's reportable segment have been prepared using a management approach, which is consistent with the basis and manner in which financial information is evaluated by the Company's Chief Operating Decision Maker ("CODM") in allocating resources and in assessing performance. The Company’s CODM is the Chief Executive Officer. The measurement of segment profit or loss that the CODM uses to evaluates the performance of the Company’s segment is net income attributable to Visteon Corporation. Financial forecasts and budget to actual results used by the CODM to assess performance and allocate resources, as well as those used for strategic decisions related to headcount and capital expenditures
are reviewed on a consolidated basis. The CODM considers the impact of the significant segment expenses in the table below on net income when deciding whether to reinvest profits, propose dividends or share repurchase, or pursue strategic mergers and acquisitions.

A summary of segment revenue, segment net income (loss) attributable to Visteon Corporation, and significant segment expense for the years ended December 31, 2025, 2024 and 2023 is as follows:
Year Ended December 31,
202520242023
Net sales
3,768 3,866 3,954 
Significant expenses:
Other cost of sales2,899 3,039 3,153 
Other selling, general and administrative165 175 173 
Gross engineering costs364 334 330 
Engineering recoveries(144)(143)(120)
Depreciation and amortization
109 96 104 
Non-cash stock-based compensation
45 41 34 
Restructuring, net8 32 5 
Interest expense13 15 17 
Interest income(22)(17)(10)
Equity in net (income) loss of non-consolidated affiliates(8)3 10 
Other (income) loss, net1 (7)1 
Provision for (benefit from) income taxes
125 (8)(330)
Net income (loss)213 306 587 
Less: Net (income) loss attributable to non-controlling interests
(12)(10)(19)
Net income (loss) attributable to Visteon Corporation
$201 $296 $568 
Other cost of sales excludes depreciation and amortization, non-cash stock-based compensation, and engineering recoveries which are presented individually above.
Other selling, general and administrative excludes depreciation and amortization and non-cash stock-based compensation which are presented individually above.
Financial Information by Geographic Region
Financial information about net sales and net tangible long-lived assets by country are as follows:

Net Sales (a)
Tangible Long-Lived Assets, Net (b)
Year Ended December 31,December 31,
(In millions)20252024202320252024
  United States
$981 $1,100 $882 $142 $113 
Mexico
168 94 109 59 57 
Total North America
1,149 1,194 991 201 170 
Portugal
853 875 840 143 122 
Slovakia
189 192 352 35 22 
Tunisia
190 159 106 56 43 
Other Europe
45 8 — 24 24 
Total Europe
1,277 1,234 1,298 258 211 
China Domestic
339 450 614 
China Export
236 260 336 
     Total China
575 710 950 68 65 
Japan
308 331 353 22 25 
India
325 291 246 73 63 
Other Asia-Pacific
112 96 92 20 10 
Total Other Asia-Pacific
745 718 691 115 98 
South America
172 150 173 8 8 
Eliminations
(150)(140)(149)
$3,768 $3,866 $3,954 $650 $552 
(a) Company sales based on geographic region where sale originates and not where customer is located.
(b) Tangible long-lived assets include property, plant, and equipment and right-of-use assets.


Disaggregated revenue by product lines is as follows:
Year Ended December 31,
(In millions)202520242023
Product Lines
Instrument clusters$1,747 $1,764 $1,949 
Cockpit domain controller428 524 536 
Infotainment508 480 499 
Information displays500 409 367 
Body and electrification electronics420 525 314 
Other165 164 289 
$3,768 $3,866 $3,954 
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About Segments Disclosures

Segment disclosures break a company into its reportable operating units, revealing revenue, profit, and asset allocation that consolidated financial statements obscure. Under ASC 280, segments must match how the chief operating decision maker views the business, providing a window into internal management structure and resource allocation priorities.

Key signals: compare segment margins to identify which units drive profitability and which destroy value. Watch for changes in the number of reportable segments — segment aggregation or disaggregation often coincides with strategic shifts or attempts to obscure declining performance. Intersegment elimination patterns reveal internal pricing practices. The reconciliation between segment totals and consolidated figures exposes corporate overhead allocation and unallocated items. Geographic revenue concentration highlights regulatory and currency exposure. Compare segment-level capital expenditure against segment revenue to assess where management is investing for future growth versus harvesting existing assets.

Other Available Disclosures

Income TaxesRevenueEarnings Per ShareFair ValuePP&EGoodwill & IntangiblesLeasesDebtCommitmentsStock Compensation