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Summary of Significant Accounting Policies (Tables)
 12 Months Ended
Dec. 31, 2020
Accounting Policies [Abstract]  
Summary of Inventories A summary of inventories is shown below (in millions):
December 31,20202019
Raw materials$1,051.6 $906.3 
Work-in-process109.8 107.0 
Finished goods396.9 380.4 
Reserves(157.2)(135.5)
Inventories$1,401.1 $1,258.2 
Classification of Recoverable Customer Engineering, Development and Tooling Costs Related to Long-term Supply Agreements
The classification of recoverable customer E&D and tooling costs related to long-term supply agreements is shown below (in millions):
December 31,20202019
Current$212.0 $157.2 
Long-term121.4 113.8 
Recoverable customer E&D and tooling$333.4 $271.0 
Property, Plant and Equipment Depreciable property is depreciated over the estimated useful lives of the assets, using principally the straight-line method as follows:
Buildings and improvements
10 to 40 years
Machinery and equipment
5 to 10 years
A summary of property, plant and equipment is shown below (in millions):
December 31,20202019
Land$114.1 $113.1 
Buildings and improvements880.7 831.3 
Machinery and equipment4,339.2 3,844.1 
Construction in progress311.1 382.4 
Total property, plant and equipment5,645.1 5,170.9 
Less – accumulated depreciation(2,908.9)(2,466.7)
Net property, plant and equipment$2,736.2 $2,704.2 
Summary of Changes in Carrying Amount of Goodwill
A summary of the changes in the carrying amount of goodwill for each of the periods in the two years ended December 31, 2020, is shown below (in millions):
SeatingE-SystemsTotal
Balance as of December 31, 2018$1,244.3 $161.0 $1,405.3 
Acquisition— 219.0 219.0 
Foreign currency translation and other(8.9)(1.1)(10.0)
Balance as of December 31, 20191,235.4 378.9 1,614.3 
Foreign currency translation and other33.4 8.1 41.5 
Balance as of December 31, 2020$1,268.8 $387.0 $1,655.8 
Summary of Finite-Lived Intangible Assets
A summary of intangible assets as of December 31, 2020, is shown below (in millions):
Gross Carrying
Value		Accumulated
Amortization		Net Carrying
Value		Weighted
Average Useful
Life (years)
Amortized intangible assets:
Customer-based$528.0 $(232.0)$296.0 11.8
Licensing agreements71.9 (24.4)47.5 5.0
Technology35.1 (21.2)13.9 7.2
$635.0 $(277.6)$357.4 10.8
Unamortized intangible assets:
In-process research and development10.8 — 10.8 
Balance as of December 31, 2020$645.8 $(277.6)$368.2 
A summary of intangible assets as of December 31, 2019, is shown below (in millions):
Gross Carrying
Value		Accumulated
Amortization		Net Carrying
Value		Weighted
Average Useful
Life (years)
Amortized intangible assets:
Customer-based$531.9 $(203.0)$328.9 11.6
Licensing agreements75.0 (10.2)64.8 5.0
Technology35.0 (15.9)19.1 7.0
Other1.4 (1.3)0.1 2.5
$643.3 $(230.4)$412.9 10.5
Unamortized intangible assets:
In-process research and development10.8 — 10.8 
Balance as of December 31, 2019$654.1 $(230.4)$423.7 
Summary of Indefinite-Lived Intangible Assets
A summary of intangible assets as of December 31, 2020, is shown below (in millions):
Gross Carrying
Value		Accumulated
Amortization		Net Carrying
Value		Weighted
Average Useful
Life (years)
Amortized intangible assets:
Customer-based$528.0 $(232.0)$296.0 11.8
Licensing agreements71.9 (24.4)47.5 5.0
Technology35.1 (21.2)13.9 7.2
$635.0 $(277.6)$357.4 10.8
Unamortized intangible assets:
In-process research and development10.8 — 10.8 
Balance as of December 31, 2020$645.8 $(277.6)$368.2 
A summary of intangible assets as of December 31, 2019, is shown below (in millions):
Gross Carrying
Value		Accumulated
Amortization		Net Carrying
Value		Weighted
Average Useful
Life (years)
Amortized intangible assets:
Customer-based$531.9 $(203.0)$328.9 11.6
Licensing agreements75.0 (10.2)64.8 5.0
Technology35.0 (15.9)19.1 7.0
Other1.4 (1.3)0.1 2.5
$643.3 $(230.4)$412.9 10.5
Unamortized intangible assets:
In-process research and development10.8 — 10.8 
Balance as of December 31, 2019$654.1 $(230.4)$423.7 
Estimated Annual Intangible Asset Amortization Expense
Excluding the impact of any future acquisitions, the Company’s estimated annual amortization expense for the five succeeding years is shown below (in millions):
YearExpense
2021$65.3 
202264.4 
202362.9 
202447.4 
202519.8 
Schedule of Accrued Liabilities
A summary of accrued liabilities as of December 31, 2020 and 2019, is shown below (in millions):
December 31,20202019
Compensation and employee benefits$297.7 $319.2 
Income and other taxes payable287.7 256.6 
Restructuring139.0 157.7 
Current portion of lease obligations116.3 113.9 
Other1,080.2 963.8 
Accrued liabilities$1,920.9 $1,811.2 
Summary of Other (Income) Expense, Net A summary of other expense, net is shown below (in millions):
For the year ended December 31,202020192018
Other expense$72.2 $52.2 $43.8 
Other income(17.0)(27.6)(12.2)
Other expense, net$55.2 $24.6 $31.6 
Summary of Information Used to Compute Basic and Diluted Net Income Per Share
A summary of information used to compute basic and diluted net income per share available to Lear common stockholders is shown below (in millions, except share and per share data):
For the year ended December 31,202020192018
Net income attributable to Lear$158.5 $753.6 $1,149.8 
Redeemable noncontrolling interest adjustment— 35.9 (10.4)
Net income available to Lear common stockholders$158.5 $789.5 $1,139.4 
Average common shares outstanding60,254,38061,697,19265,672,164
Dilutive effect of common stock equivalents172,582226,336489,652
Average diluted shares outstanding60,426,96261,923,52866,161,816
Basic net income per share available to Lear common stockholders$2.63 $12.80 $17.35 
Diluted net income per share available to Lear common stockholders$2.62 $12.75 $17.22