FINANCIAL REVIEW OF MAGNA INTERNATIONAL INC.
(United States dollars in millions, except per share figures) (Unaudited)
Prepared in accordance with U.S. GAAP
2022 2023 2024
Note 1st Q 2nd Q 3rd Q 4th Q TOTAL 1st Q 2nd Q 3rd Q 4th Q TOTAL 1st Q
VEHICLE VOLUME STATISTICS (in millions)
North America 3.615 3.551 3.600 3.514 14.280 3.884 4.080 3.930 3.743 15.637 3.963
Europe 3.997 4.020 3.597 4.188 15.802 4.581 4.598 3.825 4.357 17.361 4.497
China 6.361 5.489 7.235 7.264 26.349 5.936 6.797 7.657 8.940 29.330 6.601
Other 6.375 6.140 6.704 6.858 26.077 6.968 6.715 6.998 7.189 27.870 6.832
Global 20.348 19.200 21.136 21.824 82.508 21.369 22.190 22.410 24.229 90.198 21.893
Magna Steyr vehicle assembly volumes 0.026 0.032 0.026 0.028 0.112 0.034 0.027 0.023 0.021 0.105 0.022
AVERAGE FOREIGN EXCHANGE RATES
1 Canadian dollar equals U.S. dollars 0.790 0.783 0.765 0.737 0.769 0.740 0.745 0.746 0.735 0.742 0.741
1 euro equals U.S. dollars 1.123 1.064 1.006 1.019 1.053 1.073 1.089 1.088 1.076 1.082 1.085
1 Chinese renminbi equals U.S. dollars 0.158 0.151 0.146 0.140 0.149 0.146 0.143 0.138 0.138 0.141 0.139
CONSOLIDATED STATEMENTS OF INCOME (LOSS)
Sales:
Body Exteriors & Structures 4,077 3,947 3,976 4,004 16,004 4,439 4,540 4,354 4,178 17,511 4,429
Power & Vision 3,046 2,888 2,911 3,016 11,861 3,323 3,462 3,745 3,775 14,305 3,842
Seating Systems 1,376 1,253 1,295 1,345 5,269 1,486 1,603 1,529 1,429 6,047 1,455
Complete Vehicles 1,275 1,403 1,213 1,330 5,221 1,626 1,526 1,185 1,201 5,538 1,383
Corporate & Other (132) (129) (127) (127) (515) (201) (149) (125) (129) (604) (139)
Sales 9,642 9,362 9,268 9,568 37,840 10,673 10,982 10,688 10,454 42,797 10,970
Costs and expenses:
Cost of goods sold 8,400 8,259 8,126 8,403 33,188 9,416 9,544 9,264 8,961 37,185 9,642
Selling, general and administrative 386 410 387 477 1,660 488 505 491 566 2,050 516
Equity income (20) (25) (27) (17) (89) (33) (36) (40) (3) (112) (34)
Adjusted EBITDA 876 718 782 705 3,081 802 969 973 930 3,674 846
Depreciation 357 348 330 338 1,373 353 353 358 372 1,436 377
Adjusted EBIT 519 370 452 367 1,708 449 616 615 558 2,238 469
Amortization of acquired intangible assets 12 12 11 11 46 12 13 32 31 88 28
Other expense (income), net 1 61 426 23 193 703 142 86 (4) 164 388 356
Interest expense, net 26 20 18 17 81 20 34 49 53 156 51
Income (loss) from operations before income taxes 420 (88) 400 146 878 275 483 538 310 1,606 34
Income tax expense 41 57 104 35 237 58 129 121 12 320 8
Net income (loss) 379 (145) 296 111 641 217 354 417 298 1,286 26
Income attributable to non-controlling interests (15) (11) (7) (16) (49) (8) (15) (23) (27) (73) (17)
Net income (loss) attributable to Magna International Inc. 364 (156) 289 95 592 209 339 394 271 1,213 9
Diluted earnings (loss) per common share $ 1.22 $ (0.54) $ 1.00 $ 0.33 $ 2.03 $ 0.73 $ 1.18 $ 1.37 $ 0.94 $ 4.23 $ 0.03
Weighted average number of Common Shares outstanding
during the period (in millions): 298.1 291.1 288.5 286.3 291.2 286.6 286.3 286.8 286.6 286.6 287.1
NON-GAAP MEASURES
Adjusted EBITDA 876 718 782 705 3,081 802 969 973 930 3,674 846
Adjusted EBIT 2 519 370 452 367 1,708 449 616 615 558 2,238 469
Adjusted net income attributable to Magna International Inc. 393 253 317 270 1,233 329 441 419 383 1,572 311
Adjusted Diluted earnings per common share $ 1.32 $ 0.87 $ 1.10 $ 0.94 $ 4.24 $ 1.15 $ 1.54 $ 1.46 $ 1.33 $ 5.49 $ 1.08
PROFITABILITY RATIOS
Selling, general and administrative /Sales 4.0% 4.4% 4.2% 5.0% 4.4% 4.6% 4.6% 4.6% 5.4% 4.8% 4.7%
Adjusted EBIT /Sales 5.4% 4.0% 4.9% 3.8% 4.5% 4.2% 5.6% 5.8% 5.3% 5.2% 4.3%
Operating income /Sales 4.4% -0.9% 4.3% 1.5% 2.3% 2.6% 4.4% 5.0% 3.0% 3.8% 0.3%
Effective tax rate
Reported 9.8% -64.8% 26.0% 24.0% 27.0% 21.1% 26.7% 22.5% 3.9% 19.9% 23.5%
Excluding Other expense (income) and amortization, net of taxes 17.2% 24.6% 25.3% 18.3% 21.2% 21.4% 21.6% 21.9% 18.8% 21.0% 21.5%
Page 1 of 7
FINANCIAL REVIEW OF MAGNA INTERNATIONAL INC.
CONSOLIDATED BALANCE SHEETS
(United States dollars in millions) (Unaudited)
2022 2023 2024
1st Q 2nd Q 3rd Q 4th Q 1st Q 2nd Q 3rd Q 4th Q 1st Q
FUNDS EMPLOYED
Current assets:
Accounts receivable 7,006 6,764 7,082 6,791 7,959 8,556 8,477 7,881 8,379
Inventories 4,258 4,064 4,108 4,180 4,421 4,664 4,751 4,606 4,511
Prepaid expenses and other 310 262 269 320 367 455 387 352 399
11,574 11,090 11,459 11,291 12,747 13,675 13,615 12,839 13,289
Current liabilities:
Accounts payable 6,845 6,443 6,624 6,999 7,731 7,984 7,911 7,842 7,855
Accrued salaries and wages 879 766 810 850 822 858 900 912 883
Other accrued liabilities 2,123 2,096 1,986 2,118 2,526 2,637 2,537 2,626 2,728
Income taxes payable (receivable) 190 136 97 93 9 (14) 33 125 132
10,037 9,441 9,517 10,060 11,088 11,465 11,381 11,505 11,598
Working capital 1,537 1,649 1,942 1,231 1,659 2,210 2,234 1,334 1,691
Investments 1,487 1,375 1,323 1,429 1,390 1,287 1,311 1,273 1,195
Fixed assets, net 8,090 7,723 7,470 8,173 8,304 8,646 8,778 9,618 9,545
Goodwill, other assets and intangible assets 3,544 3,353 3,280 3,576 3,640 4,733 4,726 4,962 4,646
Operating lease right-of-use assets 1,667 1,587 1,545 1,595 1,638 1,667 1,696 1,744 1,733
Funds employed 16,325 15,687 15,560 16,004 16,631 18,543 18,745 18,931 18,810
FINANCING
Straight debt:
Cash and cash equivalents (1,996) (1,664) (1,102) (1,234) (2,429) (1,281) (1,022) (1,198) (1,517)
Short-term borrowings - - - 8 4 150 2 511 838
Long-term debt due within one year 127 105 95 654 668 1,426 1,398 819 824
Long-term debt 3,501 3,408 3,325 2,847 4,500 4,159 4,135 4,175 4,549
Current portion of operating lease liabilities 276 270 266 276 285 303 384 399 306
Operating lease liabilities 1,369 1,294 1,254 1,288 1,318 1,345 1,289 1,319 1,407
3,277 3,413 3,838 3,839 4,346 6,102 6,186 6,025 6,407
Long-term employee benefit liabilities 686 651 617 548 563 579 564 591 584
Other long-term liabilities 374 390 397 461 451 448 453 475 471
Deferred tax liabilities, net (51) (111) (138) (179) (218) (242) (210) (437) (576)
1,009 930 876 830 796 785 807 629 479
Shareholders' equity 12,039 11,344 10,846 11,335 11,489 11,656 11,752 12,277 11,924
16,325 15,687 15,560 16,004 16,631 18,543 18,745 18,931 18,810
ASSET UTILIZATION RATIOS
Days in accounts receivable 65.4 65.0 68.8 63.9 67.1 70.1 71.4 67.8 68.7
Days in accounts payable 73.3 70.2 73.4 75.0 73.9 75.3 76.9 78.8 73.3
Inventory turnover - cost of goods sold 7.9 8.1 7.9 8.0 8.5 8.2 7.8 7.8 8.5
Working capital turnover 25.1 22.7 19.1 31.1 25.7 19.9 19.1 31.3 25.9
Total asset turnover 2.4 2.4 2.4 2.4 2.6 2.4 2.3 2.2 2.3
CAPITAL STRUCTURE
Straight debt 20.1% 21.8% 24.7% 24.0% 26.1% 32.9% 33.0% 31.8% 34.1%
Long-term employee benefit liabilities, other long-term
liabilities & deferred tax liabilities, net 6.2% 5.9% 5.6% 5.2% 4.8% 4.2% 4.3% 3.3% 2.5%
Shareholders' equity 73.7% 72.3% 69.7% 70.8% 69.1% 62.9% 62.7% 64.9% 63.4%
100.0% 100.0% 100.0% 100.0% 100.0% 100.0% 100.0% 100.0% 100.0%
Debt to total capitalization 30.5% 30.9% 31.3% 30.9% 37.1% 38.8% 38.0% 37.0% 39.9%
ANNUALIZED RETURNS
Adjusted Return on equity (Adjusted Net income attributable
to Magna International Inc. / Average shareholders' equity) 13.6% 8.7% 11.4% 9.7% 11.5% 15.2% 14.3% 12.8% 10.3%
Adjusted Return on Invested Capital (Adjusted Annualized after-tax
operating profits / Invested capital) 10.6% 7.0% 8.6% 7.6% 8.7% 11.0% 10.3% 9.6% 7.8%
Page 2 of 7
FINANCIAL REVIEW OF MAGNA INTERNATIONAL INC.
CONSOLIDATED STATEMENTS OF CASH FLOWS
(United States dollars in millions) (Unaudited)
2022 2023 2024
Cash provided from (used for): Note 1st Q 2nd Q 3rd Q 4th Q TOTAL 1st Q 2nd Q 3rd Q 4th Q TOTAL 1st Q
Operating activities
Net income (loss) 379 (145) 296 111 641 217 354 417 298 1,286 26
Items not involving current cash flows 370 705 295 406 1,776 351 525 404 362 1,642 565
749 560 591 517 2,417 568 879 821 660 2,928 591
Changes in operating assets and liabilities (569) (139) (353) 739 (322) (341) (332) (24) 918 221 (330)
Cash provided from operating activities 180 421 238 1,256 2,095 227 547 797 1,578 3,149 261
Investment activities
Fixed asset additions (238) (329) (364) (750) (1,681) (424) (502) (630) (944) (2,500) (493)
Increase in investments, other assets and intangible assets (64) (80) (125) (186) (455) (101) (96) (176) (189) (562) (125)
Net cash inflow (outflow) from disposal of facilities 1(c), 1(e) 6 - - - 6 (25) - (23) - (48) 4
Increase in public and private equity investments (2) (2) (25) - (29) - (3) (7) (1) (11) (23)
Proceeds from disposition 23 40 41 20 124 19 44 32 27 122 87
Business combinations - - - (3) (3) - (1,475) - (29) (1,504) (30)
Cash used for investment activities (275) (371) (473) (919) (2,038) (531) (2,032) (804) (1,136) (4,503) (580)
Financing activities
Net issues (repayments) of debt (328) (31) (10) (22) (391) 1,636 544 (135) (119) 1,926 757
Common Shares issued on exercise of stock options 4 - 1 3 8 6 - 8 6 20 30
Repurchase of Common Shares (383) (212) (180) (5) (780) (9) (2) - (2) (13) (3)
Tax withholdings on vesting of equity awards (14) (1) - - (15) (9) (1) - (1) (11) (4)
Contributions to subsidiaries by non-controlling interests - 5 - - 5 - - - 11 11 -
Dividends paid to non-controlling interests - (12) (10) (24) (46) (7) (24) (18) (25) (74) -
Dividends paid (133) (130) (125) (126) (514) (132) (129) (128) (133) (522) (134)
Cash provided from (used for) financing activities (854) (381) (324) (174) (1,733) 1,485 388 (273) (263) 1,337 646
Effect of exchange rate changes on cash and cash equivalents (3) (1) (3) (31) (38) 14 (51) 21 (3) (19) (8)
Net increase (decrease) in cash and cash equivalents, during the period (952) (332) (562) 132 (1,714) 1,195 (1,148) (259) 176 (36) 319
Cash and cash equivalents, beginning of period 2,948 1,996 1,664 1,102 2,948 1,234 2,429 1,281 1,022 1,234 1,198
Cash and cash equivalents, end of period 1,996 1,664 1,102 1,234 1,234 2,429 1,281 1,022 1,198 1,198 1,517
Page 3 of 7
FINANCIAL REVIEW OF MAGNA INTERNATIONAL INC.
(United States dollars in millions, except per share figures) (Unaudited)
This Analyst should be read in conjunction with the audited consolidated financial statements for the year ended December 31, 2023.
Note 1: OTHER EXPENSE (INCOME), NET
Other expense (income), net consists of:
2022 2023 2024
1st Q 2nd Q 3rd Q 4th Q TOTAL 1st Q 2nd Q 3rd Q 4th Q TOTAL 1st Q
Impairments and restructuring related to Fisker Inc. ["Fisker"] [a] - - - - - - - - - - 316
Restructuring [b] - - - 22 22 118 (35) (1) 66 148 38
Investment revaluations, (gains) losses on sales, and impairments [c] 61 50 9 101 221 24 98 (19) 98 201 2
Impairments and loss on sale of operations in Russia [d] - 376 - - 376 - - 16 - 16 -
Veoneer AS transaction costs [e] - - - - - - 23 - - 23 -
Loss on sale of business [f] - - - 58 58 - - - - - -
Impairments [g] - - 14 12 26 - - - - - -
61 426 23 193 703 142 86 (4) 164 388 356
[a] Impairments and restructuring related to Fisker Inc. ["Fisker"]
Impairment of Fisker related assets:
During the first quarter of 2024, the Company recorded a $261 million impairment charge on its Fisker related assets as a result of the expected lack of future cashflows and the substantial doubt about Fisker's ability to continue as a going concern. The assets impaired include production receivables, inventory, fixed assets and other capitalized expenditures.
Impairment of Fisker warrants:
Fisker issued approximately 19.5 million penny warrants to the Company to purchase common stock in connection with our agreements with Fisker for platform sharing, engineering and manufacturing of the Fisker Ocean SUV. These warrants vested during 2021 and 2022 based on specified milestones and have been marked to market each quarter.

During the first quarter of 2024, Magna recorded a $33 million impairment charge on these warrants reducing the value of the warrants to nil.
Restructuring:
In the first quarter of 2024, the Company recorded restructuring charges of $22 million in its Complete Vehicles segment in connection with its Fisker related assembly operations.
[b] Restructuring
Reversal of restructuring charges:
During the second quarter of 2023, the Company's Power & Vision segment reversed $39 million of charges due to a change in the restructuring plans related to a plant closure.
Sale of buildings as a result of restructuring activities:
During the second and third quarter of 2023, the Company's Power & Vision segment recorded a $10 million and $8 million gain on the sale of a building as a result of restructuring activities, respectively.
Other Restructuring: 2022 2023 2024
1st Q 2nd Q 3rd Q 4th Q TOTAL 1st Q 2nd Q 3rd Q 4th Q TOTAL 1st Q
Complete Vehicles - - - - - - - - - - 26
Body Exteriors & Structures - - - - - 13 9 - 9 31 12
Power & Vision - - - 22 22 105 5 7 57 174 -
- - - 22 22 118 14 7 66 205 38
[c] Investment revaluations, (gains) losses on sales, and impairments
The Company revalues its public and private equity investments and certain public company warrants every quarter. The gains and losses related to this revaluation, as well as gain and losses on disposition, are primarily recorded in Corporate. In the second quarter of 2023, the Company recorded a non-cash impairment charge of $85 million on a private equity investment and related long-term receivables within Other assets in its Corporate segment. In the fourth quarter of 2023, the Company also recorded a non-cash impairment charge of $5 million on a private equity investment in its Power & Vision segment.
[d] Impairments and loss on sale of operations in Russia
As a result of the expected lack of future cashflows and the continuing uncertainties connected with the Russian economy, during the second quarter of 2022, the Company recorded a $376 million impairment charge related to its investment in Russia. This included net asset impairments of $173 million and a $203 million reserve against the related foreign currency translation losses that were included in accumulated other comprehensive loss. The net asset impairments consisted of $163 million and $10 million in our Body Exteriors & Structures and our Seating Systems segments, respectively.

During the third quarter of 2023, the Company completed the sale of all of its investments in Russia resulting in a loss of $16 million including a net cash outflow of $23 million.
[e] Veoneer AS transaction costs
During 2023, the Company incurred $23 million of transaction costs related to the acquisition of the Veoneer Active Safety Business.
[f] Loss on sale of business
During the fourth quarter of 2022, the Company entered into an agreement to sell a European Power & Vision operation. Under the terms of the arrangement, the Company was contractually obligated to provide the buyer with up to $42 million of funding, resulting in a loss of $58 million. During the first quarter of 2023, the Company completed the sale of this operation which resulted in a net cash outflow of $25 million.
[g] Impairments 2022 2023 2024
1st Q 2nd Q 3rd Q 4th Q TOTAL 1st Q 2nd Q 3rd Q 4th Q TOTAL 1st Q
Body Exteriors & Structures - - 10 12 22 - - - - - -
Power & Vision - - 4 - 4 - - - - - -
- - 14 12 26 - - - - - -
Page 4 of 7
Note 2: NON-GAAP MEASURES
The Company presents Adjusted EBIT (Earnings before interest, taxes, Other expense (income),net and amortization of acquired intangible assets); Adjusted Net Income (Net Income before Other expense (income),net, net of tax excluding significant income tax valuation allowance adjustments, and amortization of acquired intangible assets); Adjusted Diluted Earnings per Share; Adjusted EBIT as a percentage of sales; Adjusted Return on Invested Capital and Adjusted Return on Equity. The Company presents these financial figures because such measures are widely used by analysts and investors in evaluating the operating performance of the Company. However, such measures do not have any standardized meaning under U.S. generally accepted accounting principles and may not be comparable to the calculation of similar measures by other companies. Adjusted EBIT, Adjusted Net Income and Adjusted diluted earnings per share presented in the tables below, including for the prior period, have been updated to reflect the revised calculation.
The following table reconciles Income (loss) from operations before income taxes to Adjusted EBIT:
2022 2023 2024
1st Q 2nd Q 3rd Q 4th Q TOTAL 1st Q 2nd Q 3rd Q 4th Q TOTAL 1st Q
Income (loss) from operations before income taxes 420 (88) 400 146 878 275 483 538 310 1,606 34
Exclude:
Amortization of acquired intangible assets 12 12 11 11 46 12 13 32 31 88 28
Other expense (income), net 61 426 23 193 703 142 86 (4) 164 388 356
Interest expense 26 20 18 17 81 20 34 49 53 156 51
Adjusted EBIT 519 370 452 367 1,708 449 616 615 558 2,238 469
The following table show the calculation of Adjusted Return on Invested Capital:
2022 2023 2024
1st Q 2nd Q 3rd Q 4th Q 1st Q 2nd Q 3rd Q 4th Q 1st Q
Net income (loss) 379 (145) 296 111 217 354 417 298 26
Add (deduct):
Interest expense 26 20 18 17 20 34 49 53 51
Amortization of acquired intangible assets 12 12 11 11 12 13 32 31 28
Other expense (income), net 61 426 23 193 142 86 (4) 164 356
Tax effect on Interest expense, net, Amortization of acquired
intangible assets and Other expense, net (19) (34) (11) (32) (38) (4) (14) (46) (93)
Adjustments to Deferred Tax Valuation Allowances (29) - - - - - - (47) -
Adjusted After-tax operating profits 430 279 337 300 353 483 480 453 368
Total Assets 28,822 27,283 26,667 27,789 30,654 31,837 31,675 32,255 32,678
Excluding:
Cash and cash equivalents (1,996) (1,664) (1,102) (1,234) (2,429) (1,281) (1,022) (1,198) (1,517)
Deferred tax assets (464) (491) (488) (491) (506) (535) (527) (621) (753)
Less Current Liabilities (10,440) (9,816) (9,878) (10,998) (12,045) (13,358) (13,165) (13,234) (13,566)
Excluding:
Short-term borrowing - - - 8 4 150 2 511 838
Long-term debt due within one year 127 105 95 654 668 1,426 1,398 819 824
Current portion of operating lease liabilities 276 270 266 276 285 303 384 399 306
Invested Capital 16,325 15,687 15,560 16,004 16,631 18,542 18,745 18,931 18,810
Adjusted After-tax operating profits 430 279 337 300 353 483 480 453 368
Average Invested Capital 16,185 16,006 15,624 15,782 16,318 17,587 18,644 18,838 18,871
Adjusted Return on Invested Capital 10.6% 7.0% 8.6% 7.6% 8.7% 11.0% 10.3% 9.6% 7.8%
Page 5 of 7
Note 2: NON-GAAP MEASURES (Continued)
The following table show the calculation of Adjusted Return on Equity:
2022 2023 2024
1st Q 2nd Q 3rd Q 4th Q 1st Q 2nd Q 3rd Q 4th Q 1st Q
Net income (loss) attributable to Magna International Inc. 364 (156) 289 95 209 339 394 271 9
Add (deduct):
Amortization of acquired intangible assets 12 12 11 11 12 13 32 31 28
Other expense (income), net 61 426 23 193 142 86 (4) 164 356
Tax effect on Amortization of acquired intangible assets
and Other expense, net (15) (29) (6) (29) (34) 3 (3) (36) (82)
Adjustments to Deferred Tax Valuation Allowances (29) - - - - - - (47) -
Adjusted Net income (loss) attributable to Magna International Inc. 393 253 317 270 329 441 419 383 311
Average Shareholder's Equity 11,599 11,692 11,095 11,091 11,412 11,573 11,704 12,015 12,101
Adjusted Return on Equity 13.6% 8.7% 11.4% 9.7% 11.5% 15.2% 14.3% 12.8% 10.3%
The following table reconciles Net income (loss) attributable to Magna International Inc. to Adjusted net income attributable to Magna International Inc.:
2022 2023 2024
1st Q 2nd Q 3rd Q 4th Q TOTAL 1st Q 2nd Q 3rd Q 4th Q TOTAL 1st Q
Net income (loss) attributable to Magna International Inc. 364 (156) 289 95 592 209 339 394 271 1,213 9
Exclude:
Amortization of acquired intangible assets 10 10 9 9 38 10 11 25 25 71 22
Impairments and restructuring related to Fisker Inc. ["Fisker"] - - - - - - - - - - 247
Investment revaluations, (gains) losses on sales, and impairments 48 38 7 75 168 18 95 (14) 74 173 1
Restructuring - - - 22 22 92 (26) (2) 60 124 32
Impairments and loss on sale of operations in Russia - 361 - - 361 - - 16 - 16 -
Veoneer AS transaction costs - - - - - - 22 - - 22 -
Impairments - - 12 12 24 - - - - - -
Net losses on the sale of business - - - 57 57 - - - - - -
Adjustments to Deferred Tax Valuation Allowance [i] (29) - - - (29) - - - (47) (47) -
-
Adjusted net income attributable to Magna International Inc. 393 253 317 270 1,233 329 441 419 383 1,572 311
The following table reconciles diluted earnings (loss) per common share to Adjusted diluted earnings per common share:
2022 2023 2024
1st Q 2nd Q 3rd Q 4th Q TOTAL 1st Q 2nd Q 3rd Q 4th Q TOTAL 1st Q
Diluted earnings (loss) per common share $ 1.22 $ (0.54) $ 1.00 $ 0.33 $ 2.03 $ 0.73 $ 1.18 $ 1.37 $ 0.95 $ 4.23 $ 0.03
Exclude:
Amortization of acquired intangible assets 0.04 0.03 0.03 0.03 0.13 0.04 0.04 0.09 0.09 0.25 0.08
Impairments and restructuring related to Fisker Inc. ["Fisker"] - - - - - - - - - - 0.86
Investment revaluations, (gains) losses on sales, and impairments 0.16 0.13 0.03 0.26 0.58 0.07 0.33 (0.06) 0.25 0.60 -
Restructuring - - - 0.08 0.08 0.31 (0.09) - 0.20 0.43 0.11
Impairments and loss on sale of operations in Russia - 1.24 - - 1.24 - - 0.06 - 0.06 -
Veoneer AS transaction costs - - - - - - 0.08 - - 0.08 -
Impairments - - 0.04 0.04 0.08 - - - - - -
Net losses on the sale of business - - - 0.20 0.20 - - - - - -
Adjustments to Deferred Tax Valuation Allowance [i] (0.10) - - - (0.10) - - - (0.16) (0.16) -
Adjusted diluted earnings per common share $ 1.32 $ 0.87 $ 1.10 $ 0.94 $ 4.24 $ 1.15 $ 1.54 $ 1.46 $ 1.33 $ 5.49 $ 1.08
[i] Adjustments to Deferred Tax Valuation Allowance
The Company records quarterly adjustments to the valuation allowance against its deferred tax assets in continents like North America, Europe, Asia, and South America. The net effect of these adjustments is a reduction to income expense.
Page 6 of 7
Note 3: SEGMENTED INFORMATION
2022 2023 2024
1st Q 2nd Q 3rd Q 4th Q TOTAL 1st Q 2nd Q 3rd Q 4th Q TOTAL 1st Q
Body Exteriors & Structures
Sales 4,077 3,947 3,976 4,004 16,004 4,439 4,540 4,354 4,178 17,511 4,429
Adjusted EBIT 231 194 227 200 852 272 394 358 280 1,304 298
Adjusted EBIT as a percentage of sales 5.7% 4.9% 5.7% 5.0% 5.3% 6.1% 8.7% 8.2% 6.7% 7.4% 6.7%
Power & Vision
Sales 3,046 2,888 2,911 3,016 11,861 3,323 3,462 3,745 3,775 14,305 3,842
Adjusted EBIT 163 99 124 116 502 92 124 221 231 668 98
Adjusted EBIT as a percentage of sales 5.4% 3.4% 4.3% 3.8% 4.2% 2.8% 3.6% 5.9% 6.1% 4.7% 2.6%
Seating Systems
Sales 1,376 1,253 1,295 1,345 5,269 1,486 1,603 1,529 1,429 6,047 1,455
Adjusted EBIT 50 3 37 14 104 37 67 70 44 218 52
Adjusted EBIT as a percentage of sales 3.6% 0.2% 2.9% 1.0% 2.0% 2.5% 4.2% 4.6% 3.1% 3.6% 3.6%
Complete Vehicles
Sales 1,275 1,403 1,213 1,330 5,221 1,626 1,526 1,185 1,201 5,538 1,383
Adjusted EBIT 50 63 65 57 235 52 34 (5) 43 124 27
Adjusted EBIT as a percentage of sales 3.9% 4.5% 5.4% 4.3% 4.5% 3.2% 2.2% -0.4% 3.6% 2.2% 2.0%
Corporate and other
Intercompany eliminations (132) (129) (127) (127) (515) (201) (149) (125) (129) (604) (139)
Adjusted EBIT 25 11 (1) (20) 15 (4) (3) (29) (40) (76) (6)
Total
Sales 9,642 9,362 9,268 9,568 37,840 10,673 10,982 10,688 10,454 42,797 10,970
Adjusted EBIT 519 370 452 367 1,708 449 616 615 558 2,238 469
Adjusted EBIT as a percentage of sales 5.4% 4.0% 4.9% 3.8% 4.5% 4.2% 5.6% 5.8% 5.3% 5.2% 4.3%

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Magna International Inc. published this content on 06 May 2024 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 06 May 2024 10:26:44 UTC.