$VC

VISTEON CORP

CIK:0001111335|SEC Filings

Condensed Consolidated Statements of Comprehensive Income (Loss) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2026	Jun. 30, 2025	Jun. 30, 2026	Jun. 30, 2025
Statement of Comprehensive Income [Abstract]
Net sales	$ 960	$ 969	$ 1,914	$ 1,903
Cost of sales	(842)	(828)	(1,683)	(1,624)
Gross margin	118	141	231	279
Selling, general and administrative expenses	(46)	(48)	(100)	(95)
Restructuring, net	1	(1)	(17)	(1)
Interest expense	(2)	(4)	(5)	(7)
Interest income	5	6	10	10
Equity in net income (loss) of non-consolidated affiliates	2	2	4	4
Other income (expense), net	(2)	1	2	2
Income (loss) before income taxes	76	97	125	192
Provision for income taxes	(26)	(22)	(42)	(48)
Net income (loss)	50	75	83	144
Less: Net (income) loss attributable to non-controlling interests	(1)	(4)	(3)	(6)
Net income (loss) attributable to Visteon	49	71	80	138
Comprehensive income:
Comprehensive income (loss)	57	112	79	201
Less: Comprehensive (income) loss attributable to non-controlling interests	1	(9)	(2)	(12)
Comprehensive income (loss) attributable to Visteon Corporation	$ 58	$ 103	$ 77	$ 189
Basic earnings (loss) per share:
Basic earnings (loss) per share attributable to Visteon Corporation (in dollars per share)	$ 1.84	$ 2.60	$ 2.99	$ 5.07
Diluted earnings (loss) per share
Diluted earnings (loss) per share attributable to Visteon Corporation (in dollars per share)	$ 1.80	$ 2.57	$ 2.93	$ 5.02

Condensed Consolidated Statements of Cash Flows - USD ($) $ in Millions	6 Months Ended
	Jun. 30, 2026	Jun. 30, 2025
Operating Activities
Net income (loss)	$ 83	$ 144
Adjustments to reconcile net income (loss) to net cash provided from (used by) operating activities:
Depreciation and amortization	58	52
Non-cash stock-based compensation	24	23
Equity in net loss (income) of non-consolidated affiliates, net of dividends remitted	(4)	(4)
Effective Income Tax Rate Reconciliation, Change in Deferred Tax Assets Valuation Allowance, Amount	0	(8)
Adjustment to Reconcile Net Income to Cash Provided by (Used in) Operating Activity, Other Item	1	(4)
Changes in assets and liabilities:
Accounts receivable	(58)	(3)
Inventories	(63)	4
Accounts payable	86	40
Other assets and other liabilities	(84)	(79)
Net cash provided from operating activities	43	165
Investing Activities
Capital expenditures, including intangibles	(61)	(66)
Payments to Acquire Businesses, Net of Cash Acquired	(20)	(50)
Payments for (Proceeds from) Hedge, Investing Activities	(12)	2
Other	0	(1)
Net cash used by investing activities	(93)	(115)
Financing Activities
Proceeds from (Repayments of) Debt	2	0
Payments of Ordinary Dividends, Noncontrolling Interest	(9)	(18)
Payments of Ordinary Dividends, Common Stock	(20)	0
Share repurchase	(36)	(7)
Payments Related to Tax Withholding for Share-based Compensation	(9)	(7)
Proceeds from Stock Options Exercised	8	3
Payment for Contingent Consideration Liability, Financing Activities	(7)	0
Proceeds from (Payment for) Other Financing Activity	(2)	0
Investment Company, Debt Instrument, Amount Repaid to Principal, Excess (Less)	(4)	(9)
Net cash used by financing activities	(77)	(38)
Effect of exchange rate changes on cash	4	33
Net increase (decrease) in cash, equivalents, and restricted cash	(123)	45
Cash, equivalents, and restricted cash at beginning of the period	773	626
Cash, equivalents, and restricted cash at end of the period	$ 650	$ 671

Condensed Consolidated Balance Sheets - USD ($) $ in Millions	Jun. 30, 2026	Dec. 31, 2025
ASSETS
Cash and equivalents	$ 648	$ 771
Restricted cash	2	2
Accounts receivable, net	666	613
Inventories, net	328	269
Other current assets	158	130
Total current assets	1,802	1,785
Property and equipment, net	524	524
Intangible assets, net	233	222
Right-of-use assets	131	126
Investments in non-consolidated affiliates	25	29
Other non-current assets	229	189
Deferred Tax Assets, Tax Deferred Expense	512	511
Total assets	3,456	3,386
LIABILITIES AND EQUITY
Short-term debt	15	18
Accounts payable	620	540
Accrued employee liabilities	85	122
Current lease liability	24	21
Other current liabilities	271	291
Total current liabilities	1,015	992
Long-term debt, net	284	283
Employee benefits	80	88
Non-current lease liability	111	109
Deferred tax liabilities	47	51
Other non-current liabilities	230	212
Stockholders’ equity:
Common stock (par value $0.01, 250 million shares authorized, 55 million shares issued, 26700000 million shares outstanding as of June 30, 2026 and 26.8 million shares outstanding as of December 31, 2025, respectively)	1	1
Preferred stock (par value 0.01, 50 million shares authorized, none outstanding as of June 30, 2026 and December 31, 2025)	0	0
Additional paid-in capital	1,398	1,398
Retained earnings	2,897	2,838
Accumulated other comprehensive loss	(243)	(240)
Treasury stock	(2,442)	(2,429)
Total Visteon Corporation stockholders’ equity	1,611	1,568
Non-controlling interests	78	83
Total equity	1,689	1,651
Total liabilities and equity	$ 3,456	$ 3,386