Visteon Announces Second-Quarter 2019 Results

CONSOLIDATED BALANCE SHEETS
(Dollars in Millions)
(Unaudited)

  June 30  December 31
  2019  2018
ASSETS   
Cash and equivalents$435  $463 
Restricted cash3  4 
Accounts receivable, net468  486 
Inventories, net187  184 
Other current assets190  159 
Total current assets1,283  1,296 
    
Property and equipment, net414  397 
Intangible assets, net126  129 
Right to use assets, net164   
Investments in non-consolidated affiliates48  42 
Other non-current assets157  143 
Total assets$2,192  $2,007 
    
LIABILITIES AND EQUITY   
Short-term debt$54  $57 
Accounts payable447  436 
Accrued employee liabilities71  67 
Current lease liabilities29   
Other current liabilities161  161 
Total current liabilities762   721  
       
Long-term debt 348     348  
Employee benefits 252     257  
Non-current lease liabilities 139      
Deferred tax liabilities 26     23  
Other non-current liabilities 72     76  
       
Stockholders’ equity:      
Common stock 1     1  
Additional paid-in capital 1,338     1,335  
Retained earnings 1,630     1,609  
Accumulated other comprehensive loss (215 )   (216 )
Treasury stock (2,277 )   (2,264 )
Total Visteon Corporation stockholders’ equity 477     465  
Non-controlling interests 116     117  
Total equity 593     582  
Total liabilities and equity $ 2,192     $ 2,007  
               

VISTEON CORPORATION AND SUBSIDIARIES

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