Visteon (VC) 10-Q 29 Oct 20 2020 Q3 Quarterly report Financial data

Document and Entity Information

Document and Entity Information Document - shares	9 Months Ended
	Sep. 30, 2020	Oct. 23, 2020
Cover [Abstract]
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Sep. 30, 2020
Document Transition Report	false
Entity File Number	001-15827
Entity Registrant Name	VISTEON CORP
Entity Incorporation, State or Country Code	DE
Entity Tax Identification Number	38-3519512
Entity Address, Address Line One	One Village Center Drive,
Entity Address, City or Town	Van Buren Township,
Entity Address, State or Province	MI
Entity Address, Postal Zip Code	48111
City Area Code	800
Local Phone Number	VISTEON
Title of 12(b) Security	Common Stock, Par Value $.01 Per Share
Trading Symbol	VC
Security Exchange Name	NASDAQ
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Large Accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	false
Entity Shell Company	false
Entity Common Stock, Shares Outstanding		27,832,807
Amendment Flag	false
Entity Central Index Key	0001111335
Current Fiscal Year End Date	--12-31
Document Fiscal Year Focus	2020
Document Fiscal Period Focus	Q3

Consolidated Statements of Comp

Consolidated Statements of Comprehensive Income - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2020	Sep. 30, 2019	Sep. 30, 2020	Sep. 30, 2019
Revenues	$ 747	$ 731	$ 1,761	$ 2,201
Cost of Goods and Services Sold	(648)	(647)	(1,605)	(1,981)
Gross margin	99	84	156	220
Selling, general and administrative expenses	(45)	(52)	(140)	(167)
Restructuring charges, net of reversals	(32)	1	(69)	2
Interest expense	(6)	(4)	(14)	(10)
Interest income	1	1	4	3
Equity in net income of (loss) non-consolidated affiliates	2	1	4	7
Other expense, net	3	2	10	7
Income (loss) before income taxes	22	31	(49)	58
Provision for income taxes	(12)	(13)	(19)	(16)
Net income (loss)	10	18	(68)	42
Net income attributable to non-controlling interests	(4)	(4)	(6)	(7)
Net income (loss) attributable to Visteon Corporation	$ 6	$ 14	$ (74)	$ 35
Basic earnings (loss) per share:
Basic earnings (loss) attributable to Visteon Corporation	$ 0.22	$ 0.50	$ (2.65)	$ 1.25
Diluted earnings (loss) per share
Diluted earnings (loss) attributable to Visteon Corporation	$ 0.21	$ 0.50	$ (2.65)	$ 1.24
Comprehensive income:
Comprehensive income (loss)	$ 30	$ (4)	$ (80)	$ 21
Comprehensive income (loss) attributable to Visteon Corporation	23	(5)	(89)	17
Other Comprehensive Income (Loss), Net of Tax, Portion Attributable to Noncontrolling Interest	7	1	9	$ 4
Retained Earnings [Member]
Net income (loss) attributable to Visteon Corporation	$ 6	$ 14	$ (74)

Consolidated Balance Sheets

Consolidated Balance Sheets - USD ($) $ in Millions	Sep. 30, 2020	Dec. 31, 2019
ASSETS
Cash and equivalents	$ 431	$ 466
Restricted cash	4	3
Accounts receivable, net	476	514
Inventories, net	164	169
Other current assets	193	193
Total current assets	1,268	1,345
Property and equipment, net	418	436
Intangible assets, net	126	127
Operating Lease, Right-of-Use Asset	168	165
Investments in non-consolidated affiliates	51	48
Other non-current assets	133	150
Total assets	2,164	2,271
LIABILITIES AND EQUITY
Short-term debt, including current portion of long-term debt	0	37
Accounts payable	494	511
Accrued employee liabilities	74	73
Operating Lease, Liability, Current	31	30
Other current liabilities	189	147
Total current liabilities	788	798
Long-term debt	348	348
Employee benefits	280	292
Operating Lease, Liability, Noncurrent	145	139
Deferred tax liabilities	29	27
Other non-current liabilities	72	72
Stockholders' equity:
Preferred stock (par value $0.01, 50 million shares authorized, none outstanding as of September 30, 2020 and December 31, 2019)	0	0
Common stock (par value $0.01, 250 million shares authorized, 55 million shares issued, 28 million shares outstanding as of September 30, 2020 and December 31, 2019)	1	1
Additional paid-in capital	1,344	1,342
Retained earnings	1,605	1,679
Accumulated other comprehensive loss	(282)	(267)
Treasury stock	(2,283)	(2,275)
Total Visteon Corporation stockholders' equity	385	480
Non-controlling interests	117	115
Total equity	502	595
Total liabilities and equity	$ 2,164	$ 2,271

Consolidated Balance Sheets (Pa

Consolidated Balance Sheets (Parentheticals) - $ / shares shares in Millions	Dec. 31, 2019	Sep. 30, 2019
Common Stock, Par or Stated Value Per Share	$ 0.01	$ 0.01
Common Stock, Shares Authorized	250	250
Common Stock, Shares, Issued	55	55
Common Stock, Shares, Outstanding	28	28
Preferred Stock, Par or Stated Value Per Share	$ 0.01	$ 0.01
Preferred Stock, Shares Authorized	50	50
Preferred Stock, Shares Issued	0	0
Preferred Stock, Shares Outstanding	0	0

Consolidated Statements of Cash

Consolidated Statements of Cash Flows - USD ($) $ in Millions	9 Months Ended
	Sep. 30, 2020	Sep. 30, 2019
Statement of Cash Flows [Abstract]
Cash and Cash Equivalents, at Carrying Value	$ 435	$ 446
Operating Activities
Net income (loss)	68	(42)
Adjustments to reconcile net income to net cash provided from operating activities:
Depreciation and amortization	75	74
Equity in net income of non-consolidated affiliates, net of dividends remitted	(4)	(7)
Non-cash stock-based compensation	13	14
Other Operating Income (Expense), Net	1	5
Changes in assets and liabilities:
Accounts receivable	38	17
Inventories	5	(13)
Accounts payable	11	49
Other assets and other liabilities	26	(63)
Net cash provided from operating activities	97	118
Investing Activities
Payments to acquire property, plant, equipment, and intangible assets	(83)	(109)
Loans to non-consolidated affiliates, net of repayments	2	11
Derivative, Cost of Hedge Net of Cash Received	7	4
Payments for (Proceeds from) Other Investing Activities	(3)	(2)
Net cash provided from (used by) investing activities	(77)	(96)
Financing Activities
Line of Credit Facility, Increase (Decrease), Net	400	0
Repayments of Lines of Credit	(400)	0
Short-term debt, net	37	8
Payments of Ordinary Dividends, Noncontrolling Interest	(7)	(7)
Payments for Repurchase of Common Stock	(16)	(20)
Net cash used by financing activities	(60)	(35)
Effect of exchange rate changes on cash	6	(8)
Net increase (decrease) in cash and equivalents	(34)	(21)
Cash and restricted cash at beginning of the period	$ 469	$ 467

Consolidated Statements of Chan

Consolidated Statements of Changes in Equity (Unaudited) Statement - USD ($) $ in Millions	Total	Noncontrolling Interest [Member]	Parent [Member]	Treasury Stock [Member]	AOCI Attributable to Parent [Member]	Retained Earnings [Member]	Additional Paid-in Capital [Member]	Common Stock [Member]
Total equity	$ 582	$ 117	$ 465	$ (2,264)	$ (216)	$ 1,609	$ 1,335	$ 1
Net income (loss)	16	2	14	0	0		0	0
Other Comprehensive Income (Loss), Net of Tax	5	1	4	0	4	0	0	0
Adjustments to Additional Paid in Capital, Share-based Compensation, Requisite Service Period Recognition	2	0	2	7	0	0	(5)	0
Payments for Repurchase of Common Stock	0	(2)	2	0	0	0	(2)	0
Net income (loss) attributable to Visteon Corporation						14
Net income (loss)	42
Payments for Repurchase of Common Stock	(20)
Net income (loss) attributable to Visteon Corporation	35
Stockholders' Equity Attributable to Noncontrolling Interest		118
Total equity	605		487	(2,257)	(212)	1,623	1,332	1
Net income (loss)	8	1	7	0	0		0	0
Other Comprehensive Income (Loss), Net of Tax	(4)	(1)	(3)	0	(3)	0	0	0
Adjustments to Additional Paid in Capital, Share-based Compensation, Requisite Service Period Recognition	6	0	6	0	0	0	6	0
Payments for Repurchase of Common Stock	(20)	0	(20)	(20)	0	0	0	0
Dividends to non-controlling interests	(2)	(2)	0	0	0	0	0	0
Net income (loss) attributable to Visteon Corporation						7
Stockholders' Equity Attributable to Noncontrolling Interest		116
Total equity	593		477	(2,277)	(215)	1,630	1,338	1
Net income (loss)	18	4	14	0	0		0	0
Other Comprehensive Income (Loss), Net of Tax	(22)	(3)	(19)	0	(19)	0	0	0
Adjustments to Additional Paid in Capital, Share-based Compensation, Requisite Service Period Recognition	2	0	2	0	0	0	2	0
Dividends to non-controlling interests	(7)	(7)	0	0	0	0	0	0
Net income (loss) attributable to Visteon Corporation	14					14
Stockholders' Equity Attributable to Noncontrolling Interest		110
Total equity	584		474	(2,277)	(234)	1,644	1,340	1
Stockholders' Equity Attributable to Noncontrolling Interest	115
Total equity	595	115	480	(2,275)	(267)	1,679	1,342	1
Net income (loss)	(36)	(1)	(35)	0	0		0	0
Other Comprehensive Income (Loss), Net of Tax	(37)	0	(37)	0	(37)	0	0	0
Adjustments to Additional Paid in Capital, Share-based Compensation, Requisite Service Period Recognition	2	0	2	7	0	0	(5)	0
Payments for Repurchase of Common Stock	(16)	0	(16)	(16)	0	0	0	0
Dividends to non-controlling interests	(7)	(7)	0	0	0	0	0	0
Net income (loss) attributable to Visteon Corporation						(35)
Net income (loss)	(68)
Payments for Repurchase of Common Stock	(16)
Net income (loss) attributable to Visteon Corporation	(74)					(74)
Stockholders' Equity Attributable to Noncontrolling Interest		107
Total equity	501		394	(2,284)	(304)	1,644	1,337	1
Net income (loss)	(42)	3	(45)	0	0		0	0
Other Comprehensive Income (Loss), Net of Tax	5	0	5	0	5	0	0	0
Adjustments to Additional Paid in Capital, Share-based Compensation, Requisite Service Period Recognition	4	0	4	0	0	0	4	0
Net income (loss) attributable to Visteon Corporation						(45)
Stockholders' Equity Attributable to Noncontrolling Interest		110
Total equity	468		358	(2,284)	(299)	1,599	1,341	1
Net income (loss)	10	4	6	0	0		0	0
Other Comprehensive Income (Loss), Net of Tax	20	3	17	0	17	0	0	0
Adjustments to Additional Paid in Capital, Share-based Compensation, Requisite Service Period Recognition	4	0	4	1	0	0	3	0
Net income (loss) attributable to Visteon Corporation	6					6
Stockholders' Equity Attributable to Noncontrolling Interest	117	$ 117
Total equity	$ 502		$ 385	$ (2,283)	$ (282)	$ 1,605	$ 1,344	$ 1

Non-Consolidated Affiliates (No

Non-Consolidated Affiliates (Notes)	9 Months Ended
	Sep. 30, 2020
Yanfeng Transactions [Abstract]
Investments in and Advances to Affiliates, Schedule of Investments [Text Block]	Non-Consolidated Affiliates Investments in Affiliates The Company recorded equity in the net income of non-consolidated affiliates of $4 million and $7 million for the nine months ended September 30, 2020 and 2019, respectively. Visteon and Yangfeng Automotive Trim Systems Co. Ltd. ("YF") each own 50% of a joint venture under the name of Yanfeng Visteon Investment Co., Ltd. ("YFVIC"). In October 2014, YFVIC completed the purchase of YF’s 49% direct ownership in Yanfeng Visteon Automotive Electronics Co., Ltd. ("YFVE"), a consolidated joint venture of the Company ("The YFVIC Transaction"). The purchase by YFVIC was financed through a shareholder loan from YF and external borrowings, guaranteed by Visteon, which was paid in 2019. A summary of the Company's investments in non-consolidated equity method affiliates is provided below: September 30, December 31, (In millions) 2020 2019 YFVIC (50%) $ 46 $ 43 PT Astra Visteon Indonesia (50%) 5 5 Total investments in non-consolidated affiliates $ 51 $ 48 Variable Interest Entities The Company evaluates whether joint ventures in which it has invested are Variable Interest Entities (“VIE”) at the start of each new venture and when a reconsideration event has occurred. The Company consolidates a VIE if it is determined to be the primary beneficiary of the VIE having both the power to direct the activities of the VIE that most significantly impact the entity’s economic performance and the obligation to absorb losses or the right to receive benefits from the VIE that could potentially be significant to the VIE. The Company determined that YFVIC is a VIE. The Company holds a variable interest in YFVIC primarily related to its ownership interests and subordinated financial support. The Company and YF each own 50% of YFVIC and neither entity has the power to control the operations of YFVIC; therefore, the Company is not the primary beneficiary of YFVIC and does not consolidate the joint venture. A summary of the Company's investments in YFVIC is provided below: September 30, December 31, (In millions) 2020 2019 Payables due to YFVIC $ 11 $ 9 Exposure to loss in YFVIC: Investment in YFVIC $ 46 $ 43 Receivables due from YFVIC 52 41 Subordinated loan receivable from YFVIC 6 8 Maximum exposure to loss in YFVIC $ 104 $ 92

Other Assets

Other Assets	9 Months Ended
	Sep. 30, 2020
Other Assets [Abstract]
Other Assets Disclosure [Text Block]	Other Assets Other current assets are comprised of the following components: September 30, December 31, (In millions) 2020 2019 Recoverable taxes $ 68 $ 64 Joint venture receivables 52 41 Contractually reimbursable engineering costs 32 29 Prepaid assets and deposits 19 22 China bank notes 11 16 Royalty agreements 11 17 Other — 4 $ 193 $ 193 The Company receives bank notes from certain customers in China to settle trade accounts receivable. The collection of such bank notes are included in operating cash flows based on the substance of the underlying transactions, which are operating in nature. The Company redeemed $104 million and $59 million of China bank notes during the nine months ended September 30, 2020 and 2019, respectively. Remaining amounts outstanding at third party institutions related to sold bank notes will mature by March 31, 2021. Other non-current assets are comprised of the following components: September 30, December 31, (In millions) 2020 2019 Deferred tax assets $ 55 $ 59 Contractually reimbursable engineering costs 30 24 Recoverable taxes 19 28 Royalty agreements 8 11 Joint venture notes receivable 6 8 Other 15 20 $ 133 $ 150 Current and non-current contractually reimbursable engineering costs are related to pre-production design and development costs incurred pursuant to long-term supply arrangements that are contractually guaranteed for reimbursement by customers. The Company expects to receive cash reimbursement payments of $12 million during the remainder of 2020, $24 million in 2021, $8 million in 2022, $7 million in 2023 and $11 million in 2024 and beyond.

Summary of Significant Accounti

Summary of Significant Accounting Policies Summary of Significant Accounting Policies (Tables)	9 Months Ended
	Sep. 30, 2020
Income Statement [Abstract]
Schedule of Product Warranty Liability [Table Text Block]	The following table provides a rollforward of changes in the product warranty and recall claims liability: Nine Months Ended September 30, (In millions) 2020 2019 Beginning balance $ 49 $ 48 Accruals for products shipped 11 15 Changes in estimates (2) 2 Specific cause actions 5 3 Settlements (14) (16) Foreign currency translation 1 (1) Ending balance $ 50 $ 51

Non-Consolidated Affiliates (Ta

Non-Consolidated Affiliates (Tables)	9 Months Ended
	Sep. 30, 2020
Non-consolidated Affiliates [Abstract]
Summary of Investment in Non-consolidated Affiliates [Table Text Block]	the Company's investments in YFVIC is provided below: September 30, December 31, (In millions) 2020 2019 Payables due to YFVIC $ 11 $ 9 Exposure to loss in YFVIC: Investment in YFVIC $ 46 $ 43 Receivables due from YFVIC 52 41 Subordinated loan receivable from YFVIC 6 8 Maximum exposure to loss in YFVIC $ 104 $ 92

Other Assets (Tables)

Other Assets (Tables)	9 Months Ended
	Sep. 30, 2020
Other Assets [Abstract]
Schedule of Other Current Assets [Table Text Block]	Other current assets are comprised of the following components: September 30, December 31, (In millions) 2020 2019 Recoverable taxes $ 68 $ 64 Joint venture receivables 52 41 Contractually reimbursable engineering costs 32 29 Prepaid assets and deposits 19 22 China bank notes 11 16 Royalty agreements 11 17 Other — 4 $ 193 $ 193
Schedule of Other Assets, Noncurrent [Table Text Block]	Other non-current assets are comprised of the following components: September 30, December 31, (In millions) 2020 2019 Deferred tax assets $ 55 $ 59 Contractually reimbursable engineering costs 30 24 Recoverable taxes 19 28 Royalty agreements 8 11 Joint venture notes receivable 6 8 Other 15 20 $ 133 $ 150

Stock-holders' Equity and Non-c

Stock-holders' Equity and Non-controlling Interests (Tables)	9 Months Ended
	Sep. 30, 2020
Equity [Abstract]
Schedule of Non-controlling Interests [Table Text Block]	The Company's non-controlling interests are as follows: September 30, December 31, (In millions) 2020 2019 Yanfeng Visteon Automotive Electronics Co., Ltd. $ 53 $ 56 Shanghai Visteon Automotive Electronics, Co., Ltd. 43 41 Changchun Visteon FAWAY Electronics, Co., Ltd. 19 17 Other 2 1 $ 117 $ 115
Schedule of Accumulated Other Comprehensive Income (Loss) [Table Text Block]	Changes in Accumulated other comprehensive income (loss) (“AOCI”) and reclassifications out of AOCI by component include: Three Months Ended September 30, Nine Months Ended (In millions) 2020 2019 2020 2019 Changes in AOCI: Beginning balance $ (299) $ (215) $ (267) $ (216) Other comprehensive income (loss) before reclassification, net of tax 18 (17) (13) (14) Amounts reclassified from AOCI (1) (2) (2) (4) Ending balance $ (282) $ (234) $ (282) $ (234) Changes in AOCI by Component: Foreign currency translation adjustments Beginning balance $ (185) $ (140) $ (153) $ (142) Other comprehensive income (loss) before reclassification, net of tax (a) 28 (28) (4) (26) Ending balance (157) (168) (157) (168) Net investment hedge Beginning balance 9 (1) 4 (5) Other comprehensive income (loss) before reclassification, net of tax (a) (9) 13 (1) 20 Amounts reclassified from AOCI (2) (2) (5) (5) Ending balance (2) 10 (2) 10 Benefit plans Beginning balance (111) (70) (114) (71) Other comprehensive income (loss) before reclassification, net of tax (b) (2) — — — Amounts reclassified from AOCI 1 — 2 1 Ending balance (112) (70) (112) (70) Unrealized hedging gain (loss) Beginning balance (12) (4) (4) 2 Other comprehensive income (loss) before reclassification, net of tax (c) 1 (2) (8) (8) Amounts reclassified from AOCI — — 1 — Ending balance (11) (6) (11) (6) Total AOCI $ (282) $ (234) $ (282) $ (234) (a) There were no income tax effects for either period due to the valuation allowance. (b) Net tax expense was less than $1 million related to benefit plans for the three and nine months ended September 30, 2020 and 2019.

Non-Consolidated Affiliates (De

Non-Consolidated Affiliates (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2020	Sep. 30, 2019	Sep. 30, 2020	Sep. 30, 2019	Dec. 31, 2019
Investments in and Advance to Affiliates, Subsidiaries, Associates, and Joint Ventures	$ 51		$ 51		$ 48
Loss Contingency, Estimate of Possible Loss	52		52
Equity in net income of (loss) non-consolidated affiliates	2	$ 1	4	$ 7
YFVIC [Member]
Equity Method Investment, Ownership Percentage		50.00%		50.00%
Due to Related Parties, Noncurrent	11		11		9
Due from Related Parties, Current	52		52		41
Due from Related Parties, Noncurrent	6		6		8
Loss Contingency, Estimate of Possible Loss	104		104		92
YFVE [Member]
Noncontrolling Interest, Ownership Percentage by Noncontrolling Owners		49.00%		49.00%
Yanfeng Visteon Electronics (China) Investment Company [Member]
Investments in and Advance to Affiliates, Subsidiaries, Associates, and Joint Ventures	$ 46		$ 46		$ 43

Other Assets (Details)

Other Assets (Details) - USD ($) $ in Millions	9 Months Ended
	Sep. 30, 2020	Dec. 31, 2019	Sep. 30, 2019
Accounts, Notes, Loans and Financing Receivable [Line Items]
Deferred Tax Assets, Net	$ 55	$ 59
Notes, Loans and Financing Receivable, Gross, Current	104		$ 59
Advance Royalties, Noncurrent	6	13
Recoverable Taxes	68	64
Joint venture receivables	52	41
Contractual engineering cost recoveries, current	32	29
Prepaid assets and deposits	19	22
Royalty Agreements, Current	11	17
Nontrade Receivables, Current	11	16
Other Assets, Miscellaneous, Current	0	4
Other Assets, Current	193	193
Contractual engineering cost recoveries, non-current	30	24
Recoverable taxes, non current	19	28
Royalty Agreements, Noncurrent	8
Financial Instruments, Owned, Derivatives and Other Contractual Agreements, at Fair Value		11
Notes Receivable, Related Parties, Noncurrent	6	8
Other	15	20
Other Assets, Noncurrent	133	150
Recoverable Taxes	68	64
Prepaid assets and deposits	19	22
Joint venture receivables	52	41
Nontrade Receivables, Current	11	16
Royalty Agreements, Current	11	17
Contractual engineering cost recoveries, current	32	29
Other Assets, Miscellaneous, Current	0	4
Other Assets, Current	193	193
Recoverable taxes, non current	19	28
Royalty Agreements, Noncurrent	8
Contractual engineering cost recoveries, non-current	30	24
Notes Receivable, Related Parties, Noncurrent	6	8
Financial Instruments, Owned, Derivatives and Other Contractual Agreements, at Fair Value		11
Other	15	20
Other Assets, Noncurrent	133	$ 150
Reimbursement of Engineering costs in current year	12
Reimbursement of Engineering costs in following year	24
Reimbursement for engineering costs expected in year two	8
Reimbursement for engineering costs expected in year three	7
Reimbursement for engineering costs expected in year four	$ 11

Stockholders' Equity and Non-co

Stockholders' Equity and Non-controlling Interests (Details) - USD ($) $ in Millions	3 Months Ended				9 Months Ended
	Sep. 30, 2020	Jun. 30, 2020	Sep. 30, 2019	Jun. 30, 2019	Sep. 30, 2020	Sep. 30, 2019	Dec. 31, 2019	Dec. 31, 2018
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income (loss)	$ 10	$ (42)	$ 18	$ 8	$ (68)	$ 42
Other comprehensive income (loss)
Other Comprehensive Income (Loss), before Reclassifications, Net of Tax	18		(17)		(13)	(14)
Other Comprehensive Income (Loss), Net of Tax	20	5	(22)	(4)
Adjustments to Additional Paid in Capital, Share-based Compensation, Requisite Service Period Recognition	4	4	2	6
Dividends to non-controlling interests			(7)	(2)
Total equity	502	468	584	593	502	584	$ 595	$ 582
Payments for Repurchase of Common Stock				20	16	20
Stock Repurchase Program, Authorized Amount	364				364
Loss Contingency Accrual	8				8
Non-controlling interests	117				117		115
Accumulated other comprehensive income (loss)	(282)	(299)	(234)	(215)	(282)	(234)	(267)	(216)
Reclassification from Accumulated Other Comprehensive Income, Current Period, Net of Tax	(1)		(2)		(2)	(4)
Income Tax Expense (Benefit)					1
Income Tax Expense (Benefit)	12		13		19	16
Assets	2,164				2,164		2,271
Other Liabilities, Noncurrent	72				72		72
YFVE [Member]
Other comprehensive income (loss)
Non-controlling interests	53				53		56
SVAE - Shanghai Electronics [Member]
Other comprehensive income (loss)
Non-controlling interests	43				43		41
Visteon Interiors Korea Ltd. [Member]
Other comprehensive income (loss)
Non-controlling interests	19				19		17
Other Entity [Member]
Other comprehensive income (loss)
Non-controlling interests	2				2		1
Parent [Member]
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income (loss)	6	(45)	14	7
Other comprehensive income (loss)
Other Comprehensive Income (Loss), Net of Tax	17	5	(19)	(3)
Adjustments to Additional Paid in Capital, Share-based Compensation, Requisite Service Period Recognition	4	4	2	6
Dividends to non-controlling interests			0	0
Total equity	385	358	474	477	385	474	480	465
Payments for Repurchase of Common Stock				20
Noncontrolling Interest [Member]
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income (loss)	4	3	4	1
Other comprehensive income (loss)
Other Comprehensive Income (Loss), Net of Tax	3	0	(3)	(1)
Adjustments to Additional Paid in Capital, Share-based Compensation, Requisite Service Period Recognition	0	0	0	0
Dividends to non-controlling interests			(7)	(2)
Total equity							115	117
Payments for Repurchase of Common Stock				0
Non-controlling interests	117	110	110	116	117	110
Accumulated Translation Adjustment [Member]
Other comprehensive income (loss)
Other Comprehensive Income (Loss), before Reclassifications, Net of Tax	28		(28)		(4)	(26)
Accumulated other comprehensive income (loss)	(157)	(185)	(168)	(140)	(157)	(168)	(153)	(142)
Accumulated Defined Benefit Plans Adjustment [Member]
Other comprehensive income (loss)
Other Comprehensive Income (Loss), before Reclassifications, Net of Tax	(2)		0		0	0
Accumulated other comprehensive income (loss)	(112)	(111)	(70)	(70)	(112)	(70)	(114)	(71)
Reclassification from Accumulated Other Comprehensive Income, Current Period, Net of Tax	1		0		2	1
Accumulated Net Gain (Loss) from Designated or Qualifying Cash Flow Hedges [Member]
Other comprehensive income (loss)
Other Comprehensive Income (Loss), before Reclassifications, Net of Tax	1		(2)		(8)	(8)
Accumulated other comprehensive income (loss)	(11)	(12)	(6)	(4)	(11)	(6)	(4)	2
Reclassification from Accumulated Other Comprehensive Income, Current Period, before Tax	0		0		1	0
Cross Currency Interest Rate Contract [Member] | Accumulated Translation Adjustment [Member]
Other comprehensive income (loss)
Other Comprehensive Income (Loss), before Reclassifications, Net of Tax	(9)		13		(1)	20
Derivatives used in Net Investment Hedge, Gain (Loss), Reclassified to Earnings, Net of Tax	(2)		(2)		(5)	(5)
Accumulated Other Comprehensive Income (Loss), Cumulative Changes in Net Gain (Loss) from Cash Flow Hedges, Effect Net of Tax	(2)	$ 9	10	$ (1)	(2)	10	$ 4	$ (5)
Foreign Exchange Contract [Member]
Other comprehensive income (loss)
Other Comprehensive Income (Loss), Unrealized Gain (Loss) on Derivatives Arising During Period, before Tax	(8)		11		(9)	12
Derivative Instruments, Gain (Loss) Reclassified from Accumulated OCI into Income, Effective Portion, Net	2		2		4	5
Foreign Exchange Contract [Member] | Cash Flow Hedging [Member] | Designated as Hedging Instrument [Member]
Other comprehensive income (loss)
Other Comprehensive Income (Loss), Unrealized Gain (Loss) on Derivatives Arising During Period, before Tax	1
Foreign Exchange Contract [Member] | Net Investment Hedging [Member] | Designated as Hedging Instrument [Member]
Other comprehensive income (loss)
Other Comprehensive Income (Loss), Unrealized Gain (Loss) on Derivatives Arising During Period, before Tax	(9)		13		(1)	20
Derivative Instruments, Gain (Loss) Reclassified from Accumulated OCI into Income, Effective Portion, Net	(2)		(2)		(5)	(5)
Interest Rate Swap [Member] | Cash Flow Hedging [Member] | Designated as Hedging Instrument [Member]
Other comprehensive income (loss)
Other Comprehensive Income (Loss), Unrealized Gain (Loss) on Derivatives Arising During Period, before Tax	0		(2)		(8)	(8)
Derivative Instruments, Gain (Loss) Reclassified from Accumulated OCI into Income, Effective Portion, Net	0		$ 0		$ 1	0
10b5-1 Share Repurchase Program [Member]
Other comprehensive income (loss)
Payments for Repurchase of Common Stock	$ 16					$ 20
Open Market Share Repurchase Program [Member]
Other comprehensive income (loss)
Stock Repurchased During Period, Shares	233,769					322,120
Treasury Stock Acquired, Average Cost Per Share	$ 67.87					$ 62.06

Inventories

Inventories	9 Months Ended
	Sep. 30, 2020
Inventory Disclosure [Abstract]
Inventories	Inventories Inventories, net consist of the following components: September 30, December 31, (In millions) 2020 2019 Raw materials $ 102 $ 100 Work-in-process 25 28 Finished products 37 41 $ 164 $ 169

Intangible Assets

Intangible Assets	9 Months Ended
	Sep. 30, 2020
Goodwill and Intangible Assets Disclosure [Abstract]
Intangible Assets	A rollforward of the carrying amounts of intangible assets is presented below: December 31, 2019 September 30, 2020 (In millions) Gross Intangibles Accumulated Amortization Net Intangibles Additions Foreign Currency Amortization Expense Net Intangibles Definite-Lived: Developed technology $ 40 $ (35) $ 5 $ — $ — $ (2) $ 3 Customer related 89 (51) 38 — — (6) 32 Capitalized software development 32 (5) 27 9 — (1) 35 Other 15 (4) 11 — — (2) 9 Subtotal 176 (95) 81 9 — (11) 79 Indefinite-Lived: Goodwill 46 — 46 — 1 — 47 Total $ 222 $ (95) $ 127 $ 9 $ 1 $ (11) $ 126

Other liabilities

Other liabilities	9 Months Ended
	Sep. 30, 2020
Other Liabilities Disclosure [Abstract]
Other Liabilities Disclosure [Text Block]	Other Liabilities Other current liabilities are summarized as follows: September 30, December 31, (In millions) 2020 2019 Restructuring reserves $ 52 $ 10 Product warranty and recall accruals 37 34 Deferred income 21 22 Non-income taxes payable 19 17 Royalty reserves 14 19 Joint venture payables 11 9 Income taxes payable 4 7 Dividends payable to non-controlling interests 2 3 Other 29 26 $ 189 $ 147 Other non-current liabilities are summarized as follows: September 30, December 31, (In millions) 2020 2019 Derivative financial instruments $ 27 $ 14 Product warranty and recall accruals 13 15 Deferred income 7 9 Royalty reserves 6 13 Income tax reserves 5 5 Non-income tax reserves 1 1 Other 13 15 $ 72 $ 72

Stockholders' Equity and Non-_2

Stockholders' Equity and Non-controlling Interests	9 Months Ended
	Sep. 30, 2020
Equity [Abstract]
Shareholders' Equity and Non-controlling Interests	Stockholders’ Equity and Non-controlling Interests Share Repurchase Program During the first quarter of 2020, the Company purchased a total of 233,769 shares of Visteon common stock at an average price of $67.87 for an aggregate purchase amount of $16 million pursuant to an agreement with a third-party financial institution. During 2019, the Company purchased a total of 322,120 shares of Visteon common stock at an average price of $62.06 for an aggregate purchase amount of $20 million pursuant to various programs with third-party financial institutions. As of September 30, 2020, $364 million is available for additional share repurchases under the Board of Directors authorization which expires on December 31, 2020. The Company currently does not intend to repurchase additional shares under this authorization. Non-Controlling Interests The Company's non-controlling interests are as follows: September 30, December 31, (In millions) 2020 2019 Yanfeng Visteon Automotive Electronics Co., Ltd. $ 53 $ 56 Shanghai Visteon Automotive Electronics, Co., Ltd. 43 41 Changchun Visteon FAWAY Electronics, Co., Ltd. 19 17 Other 2 1 $ 117 $ 115 Accumulated Other Comprehensive Income (Loss) Changes in Accumulated other comprehensive income (loss) (“AOCI”) and reclassifications out of AOCI by component include: Three Months Ended September 30, Nine Months Ended (In millions) 2020 2019 2020 2019 Changes in AOCI: Beginning balance $ (299) $ (215) $ (267) $ (216) Other comprehensive income (loss) before reclassification, net of tax 18 (17) (13) (14) Amounts reclassified from AOCI (1) (2) (2) (4) Ending balance $ (282) $ (234) $ (282) $ (234) Changes in AOCI by Component: Foreign currency translation adjustments Beginning balance $ (185) $ (140) $ (153) $ (142) Other comprehensive income (loss) before reclassification, net of tax (a) 28 (28) (4) (26) Ending balance (157) (168) (157) (168) Net investment hedge Beginning balance 9 (1) 4 (5) Other comprehensive income (loss) before reclassification, net of tax (a) (9) 13 (1) 20 Amounts reclassified from AOCI (2) (2) (5) (5) Ending balance (2) 10 (2) 10 Benefit plans Beginning balance (111) (70) (114) (71) Other comprehensive income (loss) before reclassification, net of tax (b) (2) — — — Amounts reclassified from AOCI 1 — 2 1 Ending balance (112) (70) (112) (70) Unrealized hedging gain (loss) Beginning balance (12) (4) (4) 2 Other comprehensive income (loss) before reclassification, net of tax (c) 1 (2) (8) (8) Amounts reclassified from AOCI — — 1 — Ending balance (11) (6) (11) (6) Total AOCI $ (282) $ (234) $ (282) $ (234) (a) There were no income tax effects for either period due to the valuation allowance. (b) Net tax expense was less than $1 million related to benefit plans for the three and nine months ended September 30, 2020 and 2019.

Earnings Per Share

Earnings Per Share	9 Months Ended
	Sep. 30, 2020
Earnings Per Share [Abstract]
Earnings Per Share	Earnings Per Share Basic earnings per share is calculated by dividing net income attributable to Visteon by the weighted average number of shares of common stock outstanding. Diluted earnings per share is computed by dividing net income by the weighted average number of common and potentially dilutive common shares outstanding. Performance based share units are considered contingently issuable shares, and are included in the computation of diluted earnings per share based on the number of shares that would be issuable if the reporting date were the end of the contingency period and if the result would be dilutive. The table below provides details underlying the calculations of basic and diluted earnings per share: Three Months Ended September 30, Nine Months Ended (In millions, except per share amounts) 2020 2019 2020 2019 Numerator: Net income (loss) attributable to Visteon $ 6 $ 14 $ (74) $ 35 Denominator: Average common stock outstanding - basic 27.8 28.0 27.9 28.1 Dilutive effect of performance based share units and other 0.2 0.1 — 0.1 Diluted shares 28.0 28.1 27.9 28.2 Basic and Diluted Per Share Data: Basic earnings (loss) per share attributable to Visteon $ 0.22 $ 0.50 $ (2.65) $ 1.25 Diluted earnings (loss) per share attributable to Visteon: $ 0.21 $ 0.50 $ (2.65) $ 1.24 Performance based share units of approximately 181,000 were excluded from the calculation of diluted loss per share because the effect of including them would have been anti-dilutive for the nine months ended September 30, 2020.

Revenue Recognition (Notes)

Revenue Recognition (Notes)	9 Months Ended
	Sep. 30, 2020
Deferred Revenue Disclosure [Abstract]
Revenue Recognition [Text Block]	Revenue Recognition

Segment Information

Segment Information	9 Months Ended
	Sep. 30, 2020
Segment Reporting [Abstract]
Segment Information	Segment Information 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 in allocating resources and in assessing performance. The Company’s chief operating decision maker, the Chief Executive Officer, evaluates the performance of the Company’s segment primarily based on net sales, before elimination of inter-company shipments, Adjusted EBITDA (a non-GAAP financial measure, as defined below) and operating assets. The Company’s single reportable segment is Electronics, which provides vehicle cockpit electronics products to customers, including instrument clusters, information displays, infotainment systems, audio systems, telematics solutions and head-up displays. As the Company has one reportable segment, net sales, total assets, depreciation, amortization and capital expenditures are equal to consolidated results. Adjusted EBITDA The Company defines Adjusted EBITDA as net income attributable to the Company adjusted to eliminate the impact of depreciation and amortization, restructuring expense, net interest expense, equity in net income of non-consolidated affiliates, gain and loss on divestiture, provision for income taxes, discontinued operations, net income attributable to non-controlling interests, non-cash stock-based compensation expense, and other gains and losses not reflective of the Company's ongoing operations. Adjusted EBITDA is presented as a supplemental measure of the Company's financial performance that management believes is useful to investors because the excluded items may vary significantly in timing or amounts and/or may obscure trends useful in evaluating and comparing the Company's operating activities across reporting periods. Not all companies use identical calculations and, accordingly, the Company's presentation of Adjusted EBITDA may not be comparable to other similarly titled measures of other companies. Adjusted EBITDA is not a recognized term under U.S. GAAP and does not purport to be a substitute for net income as an indicator of operating performance or cash flows from operating activities as a measure of liquidity. Adjusted EBITDA has limitations as an analytical tool and is not intended to be a measure of cash flow available for management's discretionary use, as it does not consider certain cash requirements such as interest payments, tax payments and debt service requirements. The Company uses Adjusted EBITDA as a factor in incentive compensation decisions and to evaluate the effectiveness of the Company's business strategies. In addition, the Company's credit agreements use measures similar to Adjusted EBITDA to measure compliance with certain covenants. Segment Adjusted EBITDA and reconciliation to net income (loss) attributable to Visteon is as follows: Three Months Ended September 30, Nine Months Ended (In millions) 2020 2019 2020 2019 Net income (loss) attributable to Visteon Corporation $ 6 $ 14 $ (74) $ 35 Depreciation and amortization 25 25 75 74 Non-cash, stock-based compensation expense 4 3 13 14 Provision for income taxes 12 13 19 16 Interest expense, net 5 3 10 7 Net income attributable to non-controlling interests 4 4 6 7 Restructuring expense, net 32 1 69 2 Equity in net income of non-consolidated affiliates (2) (1) (4) (7) Other 1 — 3 1 Adjusted EBITDA $ 87 $ 62 $ 117 $ 149

Restructuring Activities (Table

Restructuring Activities (Tables)	9 Months Ended
	Sep. 30, 2020
Restructuring and Related Activities [Abstract]
Schedule of Restructuring and Related Costs [Table Text Block]	The Company’s condensed consolidated restructuring reserves and related activity are summarized below, including amounts associated with discontinued operations. (In millions) December 31, 2019 $ 10 Expense 33 Utilization (6) Foreign currency (1) March 31, 2020 $ 36 Expense 1 Change in estimate 3 Utilization (9) Foreign currency 1 June 30, 2020 $ 32 Expense 31 Change in estimate 1 Utilization (12) September 30, 2020 $ 52

Inventories (Tables)

Inventories (Tables)	9 Months Ended
	Sep. 30, 2020
Inventory Disclosure [Abstract]
Schedule of Inventory, Current [Table Text Block]	Inventories, net consist of the following components: September 30, December 31, (In millions) 2020 2019 Raw materials $ 102 $ 100 Work-in-process 25 28 Finished products 37 41 $ 164 $ 169

Other Liabilities (Tables)

Other Liabilities (Tables)	9 Months Ended
	Sep. 30, 2020
Other Liabilities [Abstract]
Other Current Liabilities [Table Text Block]	Other current liabilities are summarized as follows: September 30, December 31, (In millions) 2020 2019 Restructuring reserves $ 52 $ 10 Product warranty and recall accruals 37 34 Deferred income 21 22 Non-income taxes payable 19 17 Royalty reserves 14 19 Joint venture payables 11 9 Income taxes payable 4 7 Dividends payable to non-controlling interests 2 3 Other 29 26 $ 189 $ 147
Other Noncurrent Liabilities [Table Text Block]	Other non-current liabilities are summarized as follows: September 30, December 31, (In millions) 2020 2019 Derivative financial instruments $ 27 $ 14 Product warranty and recall accruals 13 15 Deferred income 7 9 Royalty reserves 6 13 Income tax reserves 5 5 Non-income tax reserves 1 1 Other 13 15 $ 72 $ 72

Debt (Tables)

Debt (Tables)	9 Months Ended
	Sep. 30, 2020
Debt Disclosure [Abstract]
Schedule of Debt [Table Text Block]	The Company’s short and long-term debt consists of the following: September 30, December 31, (In millions) 2020 2019 Short-Term Debt: Short-term borrowings $ — $ 37 Long-Term Debt: Term debt facility, net $ 348 $ 348

Employee Retirement Benefits (T

Employee Retirement Benefits (Tables)	9 Months Ended
	Sep. 30, 2020
Retirement Benefits [Abstract]
Schedule of Retirement Plan expenses [Table Text Block]	The Company's net periodic benefit costs for all defined benefit plans for the three month periods ended September 30, 2020 and 2019 were as follows: U.S. Plans Non-U.S. Plans (In millions) 2020 2019 2020 2019 Costs Recognized in Income: Pension financing benefits (cost): Interest cost $ (6) $ (8) $ (2) $ (2) Expected return on plan assets 10 10 2 2 Amortization of losses and other — — (1) — Total Pension financing benefits (cost): 4 2 (1) — Restructuring related pension cost: Special termination benefits (1) — — (1) Net pension benefit (cost) $ 3 $ 2 $ (1) $ (1)

Earnings Per Share (Tables)

Earnings Per Share (Tables)	9 Months Ended
	Sep. 30, 2020
Earnings Per Share [Abstract]
Schedule of Earnings Per Share, Basic and Diluted [Table Text Block]	The table below provides details underlying the calculations of basic and diluted earnings per share: Three Months Ended September 30, Nine Months Ended (In millions, except per share amounts) 2020 2019 2020 2019 Numerator: Net income (loss) attributable to Visteon $ 6 $ 14 $ (74) $ 35 Denominator: Average common stock outstanding - basic 27.8 28.0 27.9 28.1 Dilutive effect of performance based share units and other 0.2 0.1 — 0.1 Diluted shares 28.0 28.1 27.9 28.2 Basic and Diluted Per Share Data: Basic earnings (loss) per share attributable to Visteon $ 0.22 $ 0.50 $ (2.65) $ 1.25 Diluted earnings (loss) per share attributable to Visteon: $ 0.21 $ 0.50 $ (2.65) $ 1.24

Fair Value Measurements and Fin

Fair Value Measurements and Financial Instruments (Tables)	9 Months Ended
	Sep. 30, 2020
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Schedule of Derivative Instruments, Gain (Loss) in Statement of Financial Performance [Table Text Block]	Gains and losses on derivative financial instruments for the three and nine months ended September 30, 2020 and 2019 are as follows: Recorded Income (Loss) into AOCI, net of tax Reclassified from AOCI into Income (Loss) (In millions) 2020 2019 2020 2019 Three months ended September 30, Foreign currency risk - Cost of sales: Cash flow hedges $ 1 $ — $ — $ — Interest rate risk - Interest expense, net: Interest rate swap — (2) — — Net investment hedges (9) 13 2 2 $ (8) $ 11 $ 2 $ 2 Nine months ended September 30, Foreign currency risk - Cost of sales: Cash flow hedges $ — $ — $ — $ — Interest rate risk - Interest expense, net: Interest rate swap (8) (8) (1) — Net investment hedges (1) 20 5 5 $ (9) $ 12 $ 4 $ 5

Commitments and Contingencies C

Commitments and Contingencies Commitments and Contingencies (Tables)	9 Months Ended
	Sep. 30, 2020
Loss Contingencies [Line Items]
Schedule of Product Warranty Liability [Table Text Block]	The following table provides a rollforward of changes in the product warranty and recall claims liability: Nine Months Ended September 30, (In millions) 2020 2019 Beginning balance $ 49 $ 48 Accruals for products shipped 11 15 Changes in estimates (2) 2 Specific cause actions 5 3 Settlements (14) (16) Foreign currency translation 1 (1) Ending balance $ 50 $ 51

Segment Information (Tables)

Segment Information (Tables)	9 Months Ended
	Sep. 30, 2020
Segment Reporting Information [Line Items]
Reconciliation of Adjusted EBITDA to Net Income Attributable to the Company [Table Text Block]	reconciliation to net income (loss) attributable to Visteon is as follows: Three Months Ended September 30, Nine Months Ended (In millions) 2020 2019 2020 2019 Net income (loss) attributable to Visteon Corporation $ 6 $ 14 $ (74) $ 35 Depreciation and amortization 25 25 75 74 Non-cash, stock-based compensation expense 4 3 13 14 Provision for income taxes 12 13 19 16 Interest expense, net 5 3 10 7 Net income attributable to non-controlling interests 4 4 6 7 Restructuring expense, net 32 1 69 2 Equity in net income of non-consolidated affiliates (2) (1) (4) (7) Other 1 — 3 1 Adjusted EBITDA $ 87 $ 62 $ 117 $ 149

Summary of Significant Accoun_2

Summary of Significant Accounting Policies (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2020	Sep. 30, 2019	Sep. 30, 2020	Sep. 30, 2019	Dec. 31, 2019
Allowance for Doubtful Accounts Receivable, Current	$ 5		$ 5		$ 10
Provision for Other Credit Losses			2
Accounts Receivable, Allowance for Credit Loss, Recovery			(3)
Allowance for Loan and Lease Losses, Write-offs			(4)
Guarantor Obligations, Maximum Exposure, Undiscounted	52		52
Other expense, net	3	$ 2	10	$ 7
Restricted cash	4		4		3
Equity in net income of (loss) non-consolidated affiliates	(2)	$ (1)	(4)	$ (7)
Investments in non-consolidated affiliates	51		51		48
Operating Lease, Right-of-Use Asset	168		168		165
YFVIC [Member]
Equity Method Investment, Ownership Percentage		50.00%		50.00%
Due to Related Parties, Noncurrent	11		11		9
Guarantor Obligations, Maximum Exposure, Undiscounted	104		104		92
Due from Related Parties, Current	52		52		41
Due from Related Parties, Noncurrent	6		6		8
Yanfeng Visteon Electronics (China) Investment Company [Member]
Investments in non-consolidated affiliates	46		46		43
PT Astra
Investments in non-consolidated affiliates	$ 5		$ 5		$ 5

Discontinued Operations (Detail

Discontinued Operations (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2020	Sep. 30, 2019	Sep. 30, 2020	Sep. 30, 2019
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Income Tax Expense (Benefit)	$ 12	$ 13	$ 19	$ 16

Restructuring Activities (Detai

Restructuring Activities (Details) - USD ($) $ in Millions	3 Months Ended				6 Months Ended	9 Months Ended
	Sep. 30, 2020	Jun. 30, 2020	Mar. 31, 2020	Sep. 30, 2019	Jun. 30, 2020	Sep. 30, 2020	Sep. 30, 2019
Restructuring Cost and Reserve [Line Items]
Restructuring Reserve, Foreign Currency Translation Gain (Loss)		$ 1	$ (1)
Restructuring Charges	$ 31	1	33	$ 1			$ 2
Restructuring charges, net of reversals	32			$ (1)		$ 69	(2)
Restructuring Reserve [Roll Forward]
Restructuring Reserve, Current, Beginning Balance	32	36	10		$ 10	10
Utilization	(12)	(9)	(6)
Restructuring Reserve, Current, Ending Balance	52	32	$ 36		32	52
Restructuring Reserve, Accrual Adjustment	(1)	$ (3)
January 2020 Eng & SGA [Member]
Restructuring Cost and Reserve [Line Items]
Restructuring charges, net of reversals						(22)
Restructuring Reserve [Roll Forward]
Restructuring Reserve, Current, Ending Balance	13					13
Restructuring Costs						24
March 2020 Eng & SGA [Member]
Restructuring Cost and Reserve [Line Items]
Restructuring charges, net of reversals						(16)
Restructuring Reserve [Roll Forward]
Restructuring Reserve, Current, Ending Balance	4					4
Mexico 2020 Manufacturing [Member]
Restructuring Cost and Reserve [Line Items]
Restructuring Charges					$ 1
2019 Europe Manufacturing [Member]
Restructuring Cost and Reserve [Line Items]
Restructuring charges, net of reversals							$ (2)
2018 South America Legacy [Member]
Restructuring Reserve [Roll Forward]
Restructuring Reserve, Current, Ending Balance	3					3
2016 Other Restructuring Program [Member] [Member]
Restructuring Reserve [Roll Forward]
Restructuring Reserve, Current, Ending Balance	2					2
September 2020 Eng & SGA [Member]
Restructuring Cost and Reserve [Line Items]
Restructuring charges, net of reversals	(31)
Restructuring Reserve [Roll Forward]
Restructuring Reserve, Current, Ending Balance	30					$ 30
Restructuring Costs	$ 40

Inventories (Details)

Inventories (Details) - USD ($) $ in Millions	Sep. 30, 2020	Dec. 31, 2019
Inventory, Raw Materials, Net of Reserves	$ 102	$ 100
Inventory, Work in Process, Net of Reserves	25	28
Inventories, net	164	169
Inventory, Finished Goods, Net of Reserves	$ 37	$ 41

Intangible Assets (Details)

Intangible Assets (Details) - USD ($) $ in Millions	9 Months Ended
	Sep. 30, 2020	Dec. 31, 2019
Definite-Lived Intangible Assets [Abstract]
Finite-Lived Intangible Assets, Gross	$ 188	$ 176
Goodwill, Acquired During Period	0
Finite-Lived Intangible Assets, Accumulated Amortization	(109)	(95)
Net Carrying Value		81
Goodwill	0
Goodwill and Indefinite-lived Intangible Assets, Net	47	46
Goodwill and indefinite-lived intangible assets [Abstract]
Goodwill, Gross	47	46
Intangible Assets, Gross (Including Goodwill)	235	222
Intangible Assets Net Including Goodwill	126	127
Finite-lived Intangible Assets Acquired	9
Amortization expense	(11)
Finite Lived Intangible Assets, Foreign Currency Translation Gain (Loss)	1
Intangible Assets, Net (Excluding Goodwill)	79
Intangible Assets Net Including Goodwill Recognized From Business Acquisition	$ 9
Developed Technology Rights [Member]
Definite-Lived Intangible Assets [Abstract]
Finite-Lived Intangible Asset, Useful Life	5 years
Finite-Lived Intangible Assets, Gross	$ 40	40
Finite-Lived Intangible Assets, Accumulated Amortization	(37)	(35)
Net Carrying Value	3	5
Goodwill and indefinite-lived intangible assets [Abstract]
Finite-lived Intangible Assets Acquired	0
Amortization expense	(2)
Finite Lived Intangible Assets, Foreign Currency Translation Gain (Loss)	0
Customer Relationships [Member]
Definite-Lived Intangible Assets [Abstract]
Finite-Lived Intangible Assets, Gross	91	89
Finite-Lived Intangible Assets, Accumulated Amortization	(59)	(51)
Net Carrying Value	32	38
Goodwill and indefinite-lived intangible assets [Abstract]
Finite-lived Intangible Assets Acquired	0
Amortization expense	(6)
Finite Lived Intangible Assets, Foreign Currency Translation Gain (Loss)	$ 0
Software and Software Development Costs [Member]
Definite-Lived Intangible Assets [Abstract]
Finite-Lived Intangible Asset, Useful Life	3 years
Finite-Lived Intangible Assets, Gross	$ 41	32
Finite-Lived Intangible Assets, Accumulated Amortization	(6)	(5)
Net Carrying Value	35	27
Goodwill and indefinite-lived intangible assets [Abstract]
Finite-lived Intangible Assets Acquired	9
Amortization expense	(1)
Finite Lived Intangible Assets, Foreign Currency Translation Gain (Loss)	$ 0
Other [Member]
Definite-Lived Intangible Assets [Abstract]
Finite-Lived Intangible Asset, Useful Life	20 years
Finite-Lived Intangible Assets, Gross	$ 16	15
Finite-Lived Intangible Assets, Accumulated Amortization	(7)	(4)
Net Carrying Value	9	11
Goodwill and indefinite-lived intangible assets [Abstract]
Finite-lived Intangible Assets Acquired	0
Amortization expense	2
Finite Lived Intangible Assets, Foreign Currency Translation Gain (Loss)	0
Goodwill [Member]
Definite-Lived Intangible Assets [Abstract]
Finite-Lived Intangible Assets, Accumulated Amortization		$ 0
Foreign Currency Gain (Loss) [Member]
Goodwill and indefinite-lived intangible assets [Abstract]
Finite Lived Intangible Assets, Foreign Currency Translation Gain (Loss)	0
Goodwill [Member]
Definite-Lived Intangible Assets [Abstract]
Indefinite-lived Intangible Assets, Foreign Currency Translation Gain (Loss)	1
Goodwill and indefinite-lived intangible assets [Abstract]
Amortization expense	$ 0
Minimum [Member] | Customer Relationships [Member]
Definite-Lived Intangible Assets [Abstract]
Finite-Lived Intangible Asset, Useful Life	10 years

Other Liabilities (Details)

Other Liabilities (Details) - USD ($) $ in Millions	9 Months Ended
	Sep. 30, 2020	Dec. 31, 2019
Other Liabilities [Abstract]
Royalty Agreements, Current	$ 11	$ 17
Royalty Agreements, Noncurrent	8
Dividends Payable, Current	2	3
Income taxes payable	4	7
Rent and royalties	14	19
Product warranty and recall accruals	37	34
Restructuring Reserve	52	10
Deferred income	21	22
Joint venture payables	11	9
Non-income taxes payable	19	17
Other	29	26
Other Liabilities, Current	189	147
Hedging Liabilities, Noncurrent	27	14
Product warranty and recall accruals	13	15
Deferred income	7	9
Advance Royalties, Noncurrent	6	13
Income tax reserves	5	5
Non-income tax reserves	1	1
Other	13	15
Other Liabilities, Noncurrent	72	72
Other Liabilities, Noncurrent	72	72
Assets	2,164	2,271
Other current liabilities	189	147
Amortization expense	(11)
Other	29	26
Other	13	15
Product warranty and recall accruals	13	15
Restructuring Reserve	52	10
Product warranty and recall accruals	37	34
Deferred income	21	22
Non-income taxes payable	19	17
Rent and royalties	14	19
Joint venture payables	11	9
Income taxes payable	4	7
Dividends Payable, Current	2	3
Hedging Liabilities, Noncurrent	27	14
Deferred income	7	9
Advance Royalties, Noncurrent	6	13
Income tax reserves	5	5
Non-income tax reserves	$ 1	$ 1

Debt (Details)

Debt (Details) - USD ($)	9 Months Ended
	Sep. 30, 2020	Dec. 31, 2019
Short-term debt [Abstract]
Other - short-term		$ 37,000,000
Short-term debt	$ 0	37,000,000
Long-term debt
Long-term debt	348,000,000	348,000,000
Debt Instrument, face amount	350,000,000
Line of Credit Facility, Maximum Borrowing Capacity	75,000,000
borrowing capacity under swing line advances	20,000,000
Amended LOC Agreement Facility Capacity	$ 5,000,000
LOC Collateral Percentage for draws in the U.S. dollars	103.00%
LOC collateral percentage for draws in non-U.S. currencies	110.00%
Letters of Credit Outstanding, Amount	$ 3,000,000
Debt Instrument, Collateral	$ 1,000,000
Debt Instrument, Interest Rate Terms	1.75
Long-term Debt [Member]
Long-term debt
Unsecured long-term debt, non-current	$ 348,000,000	$ 348,000,000
LOC Facility issued by local affiliates [Member]
Long-term debt
Letters of Credit Outstanding, Amount	7,000,000
Affiliated Entity [Member]
Long-term debt
Line of Credit Facility, Capacity Available for Trade Purchases	$ 153,000,000
London Interbank Offered Rate (LIBOR) [Member] | Maximum [Member]
Long-term debt
Line of Credit Facility, Interest Rate Description	2.00%
London Interbank Offered Rate (LIBOR) [Member] | Minimum [Member]
Long-term debt
Line of Credit Facility, Interest Rate Description	1.00%

Benefit Expenses (Details)

Benefit Expenses (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2020	Sep. 30, 2019	Sep. 30, 2020	Sep. 30, 2019	Dec. 31, 2020
Benefit Expenses
Defined Benefit Plan, Plan Assets, Contributions by Employer	$ 2		$ 3
Other expense, net	3	$ 2	10	$ 7
Income Tax Expense (Benefit)	12	13	19	16
Scenario, Forecast [Member]
Benefit Expenses
Defined Benefit Plan, Expected Future Employer Contributions, Remainder of Fiscal Year	17		17		$ 1
Foreign Plan [Member]
Defined Benefit Plan Disclosure [Line Items]
Defined Benefit Plan, Service Cost			(1)	(1)
Benefit Expenses
Interest cost	(2)	(2)	(5)	(6)
Expected return on plan assets	2	2	6	7
Net pension (income) expense	1	1	3	2
Defined Benefit Plan, Amortization of Gain (Loss)	(1)		(2)	(1)
Defined Benefit Plan, Other Cost (Credit)	1		1
Defined Benefit Plan, Benefit Obligation, Special and Contractual Termination Benefits		(1)	(1)	(1)
Domestic Plan [Member]
Benefit Expenses
Interest cost	(6)	(8)	(18)	(23)
Expected return on plan assets	10	10	29	30
Net pension (income) expense	3	2	8	7
Defined Benefit Plan, Other Cost (Credit)	4	$ 2	11	$ 7
Defined Benefit Plan, Benefit Obligation, Special and Contractual Termination Benefits	$ (1)		$ (3)

Provision For Income Taxes (Det

Provision For Income Taxes (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2020	Sep. 30, 2019	Sep. 30, 2020	Sep. 30, 2019	Dec. 31, 2019
Liability for Uncertainty in Income Taxes, Noncurrent	$ 5		$ 5
Provision for income taxes	(12)	$ (13)	(19)	$ (16)
Income (Loss) from Continuing Operations before Income Taxes, Extraordinary Items, Noncontrolling Interest	22	31	(49)	58
Unrecognized Tax Benefits	13		13
Unrecognized Tax Benefits that Would Impact Effective Tax Rate	6		6
Unrecognized Tax Benefits, Income Tax Penalties and Interest Accrued	2		2		$ 2
Jurisdictions where valuation allowances are maintained [Member]
Income (Loss) from Continuing Operations before Income Taxes, Extraordinary Items, Noncontrolling Interest			(106)	(46)
Domestic Country And Foreign Country Witholding Taxes [Member]
Liability for Uncertainty in Income Taxes, Noncurrent	$ 3		$ 3
Deferred Tax Liabilities, Net		$ 12		$ 12

Unrecognized Tax Benefits (Deta

Unrecognized Tax Benefits (Details) - USD ($) $ in Millions	6 Months Ended	9 Months Ended
	Jun. 30, 2014	Sep. 30, 2020	Dec. 31, 2019
Unrecognized Tax Benefits that Would Impact Effective Tax Rate		$ 6
Unrecognized Tax Benefits, Income Tax Penalties and Interest Accrued		2	$ 2
Reconciiation of Unrecognized Tax Benefits [Abstract]
Unrecognized Tax Benefits		13
Liability for Uncertain Tax Positions, Noncurrent		5
Visteon Sistemas Automotivos [Member]
Reconciiation of Unrecognized Tax Benefits [Abstract]
Tax audit appeals payment	$ 15	10
Worldwide [Member]
Reconciiation of Unrecognized Tax Benefits [Abstract]
Tax audit appeals and refund claims receivable		$ 13

Earnings Per Share (Details)

Earnings Per Share (Details) - USD ($) $ / shares in Units, $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2020	Sep. 30, 2019	Sep. 30, 2020	Sep. 30, 2019
Numerator:
Net income (loss) attributable to Visteon Corporation	$ 6	$ 14	$ (74)	$ 35
Denominator:
Average common stock outstanding - basic	27,800,000	28,000,000	27,900,000	28,100,000
Dilutive effect of warrants and PSUs	200,000	100,000	181,000	100,000
Diluted shares	28,000,000	28,100,000	27,900,000	28,200,000
Basic earnings (loss) per share
Basic	$ 0.22	$ 0.50	$ (2.65)	$ 1.25
Diluted earnings (loss) per share
Diluted	$ 0.21	$ 0.50	$ (2.65)	$ 1.24

Derivatives (Details)

Derivatives (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2020	Sep. 30, 2019	Sep. 30, 2020	Sep. 30, 2019	Dec. 31, 2019
Derivative [Line Items]
Debt Instrument, Fair Value Disclosure	$ 342		$ 342		$ 390
Foreign Exchange Contract [Member]
Derivative [Line Items]
Derivative Asset, Notional Amount	78		78		40
Other Comprehensive Income (Loss), Unrealized Gain (Loss) on Derivatives Arising During Period, before Tax	(8)	$ 11	(9)	$ 12
Derivative Instruments, Gain (Loss) Reclassified from Accumulated OCI into Income, Effective Portion, Net	2	2	4	5
Cash Flow Hedging [Member]
Derivative [Line Items]
Derivative Asset, Notional Amount		8		8
Swap [Member]
Derivative [Line Items]
Derivative Asset, Notional Amount	300		300		250
Currency Swap [Member]
Derivative [Line Items]
Derivative, Fair Value, Net					6
Designated as Hedging Instrument [Member] | Liability [Member] | Foreign Exchange Contract [Member]
Derivative [Line Items]
Derivative, Fair Value, Net					1
Designated as Hedging Instrument [Member] | Cash Flow Hedging [Member] | Cross Currency Interest Rate Contract [Member]
Derivative [Line Items]
Derivative Instruments, Gain (Loss) Reclassification from Accumulated OCI to Income, Estimated Net Amount to be Transferred			6
Designated as Hedging Instrument [Member] | Cash Flow Hedging [Member] | Foreign Exchange Contract [Member]
Derivative [Line Items]
Other Comprehensive Income (Loss), Unrealized Gain (Loss) on Derivatives Arising During Period, before Tax	1
Derivative Instruments, Gain (Loss) Reclassification from Accumulated OCI to Income, Estimated Net Amount to be Transferred			1
Designated as Hedging Instrument [Member] | Cash Flow Hedging [Member] | Interest Rate Swap [Member]
Derivative [Line Items]
Other Comprehensive Income (Loss), Unrealized Gain (Loss) on Derivatives Arising During Period, before Tax	0	(2)	(8)	(8)
Derivative Instruments, Gain (Loss) Reclassified from Accumulated OCI into Income, Effective Portion, Net	0	0	1	0
Derivative Instruments, Gain (Loss) Reclassification from Accumulated OCI to Income, Estimated Net Amount to be Transferred			6
Derivative Liability		12		12	(7)
Designated as Hedging Instrument [Member] | Net Investment Hedging [Member] | Foreign Exchange Contract [Member]
Derivative [Line Items]
Other Comprehensive Income (Loss), Unrealized Gain (Loss) on Derivatives Arising During Period, before Tax	(9)	13	(1)	20
Derivative Instruments, Gain (Loss) Reclassified from Accumulated OCI into Income, Effective Portion, Net	(2)	$ (2)	(5)	$ (5)
Derivative, Fair Value, Net	$ 15		$ 15
Currency Swap [Member]
Derivative [Line Items]
Derivative Asset, Notional Amount					$ 250

Derivatives Balance Sheet Locat

Derivatives Balance Sheet Location (Details) - USD ($) $ in Millions	Sep. 30, 2020	Dec. 31, 2019
Derivatives, Fair Value [Line Items]
Debt Instrument, Fair Value Disclosure	$ 342	$ 390
Net Investment Hedging [Member] | Designated as Hedging Instrument [Member] | Foreign Exchange Contract [Member]
Derivatives, Fair Value [Line Items]
Derivative, Fair Value, Net	$ 15

Derivatives Income Statement Lo

Derivatives Income Statement Location (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2020	Sep. 30, 2019	Sep. 30, 2020	Sep. 30, 2019
Foreign Exchange Contract [Member]
Derivative Instruments, Gain (Loss) [Line Items]
Other Comprehensive Income (Loss), Unrealized Gain (Loss) on Derivatives Arising During Period, before Tax	$ (8)	$ 11	$ (9)	$ 12
Derivative Instruments, Gain (Loss) Reclassified from Accumulated OCI into Income, Effective Portion, Net	2	2	4	5
Designated as Hedging Instrument [Member] | Foreign Exchange Contract [Member] | Cash Flow Hedging [Member]
Derivative Instruments, Gain (Loss) [Line Items]
Derivative Instruments, Gain (Loss) Reclassification from Accumulated OCI to Income, Estimated Net Amount to be Transferred			(1)
Other Comprehensive Income (Loss), Unrealized Gain (Loss) on Derivatives Arising During Period, before Tax	1
Designated as Hedging Instrument [Member] | Foreign Exchange Contract [Member] | Net Investment Hedging [Member]
Derivative Instruments, Gain (Loss) [Line Items]
Other Comprehensive Income (Loss), Unrealized Gain (Loss) on Derivatives Arising During Period, before Tax	(9)	13	(1)	20
Derivative Instruments, Gain (Loss) Reclassified from Accumulated OCI into Income, Effective Portion, Net	(2)	(2)	(5)	(5)
Designated as Hedging Instrument [Member] | Interest Rate Swap [Member] | Cash Flow Hedging [Member]
Derivative Instruments, Gain (Loss) [Line Items]
Derivative Instruments, Gain (Loss) Reclassification from Accumulated OCI to Income, Estimated Net Amount to be Transferred			(6)
Other Comprehensive Income (Loss), Unrealized Gain (Loss) on Derivatives Arising During Period, before Tax	0	(2)	(8)	(8)
Derivative Instruments, Gain (Loss) Reclassified from Accumulated OCI into Income, Effective Portion, Net	$ 0	$ 0	$ 1	$ 0

Credit Risk (Details)

Credit Risk (Details) - USD ($) $ in Millions	6 Months Ended	9 Months Ended
	Jun. 30, 2019	Sep. 30, 2020	Dec. 31, 2019
Concentration Risk [Line Items]
Debt Instrument, Fair Value Disclosure		$ 342	$ 390
Ford And Affiliates [Member] | Accounts Receivable [Member] | Credit Concentration Risk [Member]
Concentration Risk [Line Items]
Entity-wide revenue, major customer, percentage	12.00%	14.00%
Nissan\Renault [Member] | Accounts Receivable [Member] | Credit Concentration Risk [Member]
Concentration Risk [Line Items]
Entity-wide revenue, major customer, percentage	13.00%	12.00%
Fair Value Measured at Net Asset Value Per Share [Member]
Concentration Risk [Line Items]
Investments, Fair Value Disclosure		$ 15	$ 3

Commitments and Contingencies (

Commitments and Contingencies (Details) - USD ($) $ in Millions	9 Months Ended
	Sep. 30, 2020	Sep. 30, 2019
Loss Contingencies [Line Items]
Amount of Bonds Issued by the Charter Township of Van Buren, Michigan	$ 28
Estimated Shortfall in Tax Revenues of the Township	1
Revenue from Contract with Customer, Including Assessed Tax	12
Loss Contingency Accrual	8
Loss Contingency, Estimate of Possible Loss	52
Guarantee for Divested Entities Lease Payments	5	$ 1
Movement in Standard Product Warranty Accrual [Roll Forward]
Product Warranty Accrual, Beginning Balance	49	48
Standard and Extended Product Warranty Accrual, Period Increase (Decrease)	11	15
Standard and Extended Product Warranty Accrual, Increase (Decrease) for Preexisting Warranties	(2)	2
Product warranty accrual, specific action increase (decrease)	5	3
Standard and Extended Product Warranty Accrual, Foreign Currency Translation Gain (Loss)	1	(1)
Standard and Extended Product Warranty Accrual, Decrease for Payments	14	16
Product Warranty Accrual, Ending Balance	$ 50	$ 51

Revenue Recognition (Details)

Revenue Recognition (Details) - USD ($)	3 Months Ended		9 Months Ended
	Sep. 30, 2020	Sep. 30, 2019	Sep. 30, 2020	Sep. 30, 2019
net changes in transaction price [Line Items]
Disclosure on Geographic Areas, Description of Revenue from External Customers	$ 747,000,000	$ 731,000,000	$ 1,761,000,000	$ 2,201,000,000
Net changes in transaction price	0.01
hedging impact and eliminations	(31,000,000)	(45,000,000)	(81,000,000)	(138,000,000)
Asia [Member]
net changes in transaction price [Line Items]
Disclosure on Geographic Areas, Description of Revenue from External Customers	107,000,000	141,000,000	261,000,000	440,000,000
Europe [Member]
net changes in transaction price [Line Items]
Disclosure on Geographic Areas, Description of Revenue from External Customers	281,000,000	221,000,000	667,000,000	726,000,000
Americas [Member]
net changes in transaction price [Line Items]
Disclosure on Geographic Areas, Description of Revenue from External Customers	192,000,000	201,000,000	446,000,000	597,000,000
All Countries [Domain]
net changes in transaction price [Line Items]
Disclosure on Geographic Areas, Description of Revenue from External Customers	747,000,000	731,000,000	1,761,000,000	2,201,000,000
Instrument cluster [Member]
net changes in transaction price [Line Items]
Disclosure on Geographic Areas, Description of Revenue from External Customers	388,000,000	322,000,000	901,000,000	959,000,000
Audio and infotainment [Member]
net changes in transaction price [Line Items]
Disclosure on Geographic Areas, Description of Revenue from External Customers	134,000,000	182,000,000	333,000,000	562,000,000
Information displays [Member]
net changes in transaction price [Line Items]
Disclosure on Geographic Areas, Description of Revenue from External Customers	135,000,000	120,000,000	298,000,000	365,000,000
Climate controls [Member]
net changes in transaction price [Line Items]
Disclosure on Geographic Areas, Description of Revenue from External Customers	14,000,000	18,000,000	31,000,000	59,000,000
Body and security [Member]
net changes in transaction price [Line Items]
Disclosure on Geographic Areas, Description of Revenue from External Customers	28,000,000	27,000,000	66,000,000	91,000,000
Telematics [Member]
net changes in transaction price [Line Items]
Disclosure on Geographic Areas, Description of Revenue from External Customers	14,000,000	29,000,000	43,000,000	51,000,000
Other (includes HUD) [Member]
net changes in transaction price [Line Items]
Disclosure on Geographic Areas, Description of Revenue from External Customers	34,000,000	33,000,000	89,000,000	114,000,000
China Export [Member] | Asia [Member]
net changes in transaction price [Line Items]
Disclosure on Geographic Areas, Description of Revenue from External Customers	58,000,000	70,000,000	145,000,000	204,000,000
China Domestic [Member] | Asia [Member]
net changes in transaction price [Line Items]
Disclosure on Geographic Areas, Description of Revenue from External Customers	$ 140,000,000	$ 143,000,000	$ 323,000,000	$ 372,000,000

Segment Information (Details)

Segment Information (Details) - USD ($) $ in Millions	3 Months Ended				9 Months Ended
	Sep. 30, 2020	Jun. 30, 2020	Mar. 31, 2020	Sep. 30, 2019	Sep. 30, 2020	Sep. 30, 2019	Dec. 31, 2019
Segment Reporting [Abstract]
Revenues	$ 747			$ 731	$ 1,761	$ 2,201
Depreciation and Amortization Expenses for Continuing Operations	(25)			(25)	(75)	(74)
Interest expense, net	5			3	10	7
Equity in net income of non-consolidated affiliates	(2)			(1)	(4)	(7)
Equity in net income of (loss) non-consolidated affiliates	(2)			(1)	(4)	(7)
Other expense, net	(3)			(2)	(10)	(7)
Provision for income taxes	(12)			(13)	(19)	(16)
Net income attributable to non-controlling interests	4			4	6	7
Restructuring charges, net of reversals	32			(1)	69	(2)
Allocated Share-based Compensation Expense	4			3	13	14
Share-based Compensation					(13)	(14)
Adjusted EBITDA	87			62	117	149
Net income (loss) attributable to Visteon Corporation	6			14	(74)	35
Assets	2,164				2,164		$ 2,271
Restructuring Charges	31	$ 1	$ 33	1		2
Other Nonoperating Income	$ 1			$ 0	$ 3	$ 1