Short answer
Lear Corp (LEA) filed its fiscal 2017 10-K annual report with the SEC on Feb 6, 2018. It reported revenue of $20.5B (+10.3% year over year) and net income of $1.3B.
- Top risk flagged: Union agreements covering 77% of global unionized workforce scheduled to expire during 2018, creating work-stoppage exposure
FY2017 key financial metrics · XBRL
- Revenue
- $20.5B
- +10.3% YoY
- Net income
- $1.3B
- +34.7% YoY
- Operating margin
- 7.9%
- +0.2 pp YoY
- Gross margin
- 2.8%
- −0.1 pp YoY
- EPS (diluted)
- $18.59
- +39.5% YoY
- ROE
- 31.6%
- −0.3 pp YoY
- Operating cash flow
- $1.8B
- +10.1% YoY
Source: XBRL data from the Lear Corp (LEA) FY2017 10-K on SEC EDGAR. USD.
Lear Corp FY2017 10-K analysis
AI summary of each section, grounded in the filing text
Business Overview
- Core model: salaried employee deferred-compensation program supplementing tax-qualified Savings Program benefits
- Emphasized flexibility: Salary deferrals up to 75%, Bonus deferrals up to 90%, with Retirement and Flex Account allocations
- Company contributions: matching and non-elective amounts above Savings Program limits, plus discretionary employer credits
- Vesting framework: three years for matching and non-elective contributions, full vesting at death, disability, or age 65
- Distinctive plan feature: participant-selected payment schedules, including installments up to 10 years and five-year payment deferral modifications
Management Discussion & Analysis
- Revenue performance, margins, segment results, cash flow, buybacks, dividends and capex not provided
- Forward-looking outlook and emerging risks not provided
Risk Factors
- Union agreements covering 77% of global unionized workforce scheduled to expire during 2018, creating work-stoppage exposure
- Global manufacturing and distribution footprint, including Mexico, Africa, Asia, Central America and Europe, exposed to currency controls, tariffs and political instability
- Sole-source Tier 2 suppliers and directed sourcing create re-sourcing difficulty during supplier distress or capacity constraints
- Ride sharing and on-demand transportation could reduce conventional vehicle demand and production volumes
- Customer concentration in vehicle models where Lear is a significant supplier, with purchase orders lacking guaranteed volumes
Generated from the filing text; verify against the original. How to read a 10-K
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