The following is excerpted from the question-and-answer section of the transcript.
(Questions from industry analysts are provided in full, but answers are omitted - download the transcript to see the full question-and-answer session)
Question: Peter Sklar - BMO Capital Markets Equity Research - Analyst
: I'm back on GETRAG. So you've explained the situation in Europe with the Ford joint venture. But as I recall from last quarter, there were some
issues in your China operations. I can't recall if they're wholly owned or joint venture operations. But essentially, you were having trouble with some
sell-through of the CVT transmissions because the customer volumes just wasn't there for their vehicles with that particular -- with your particular
transmission. Can you just update us on -- like what the issues were again? Give us a review of the issues in China for the CVT transmission. And
has there been any change in the outlook since last quarter or resolution of the issues?
Question: Peter Sklar - BMO Capital Markets Equity Research - Analyst
: But as I recall, also, there was a commercial dispute with that customer. Has that been resolved?
Question: Peter Sklar - BMO Capital Markets Equity Research - Analyst
: Okay. The WLTP and the disruption that caused in European production volumes, the larger hit appeared to be in Q3. We're just wondering if you
felt the impact in Q4 in terms of your customers' production volumes and if any of that is going to carry over into Q1.
Question: Peter Sklar - BMO Capital Markets Equity Research - Analyst
: Okay. And lastly, Louis, we're trying to figure out what the tax rate is on adjusted earnings. Would that be the 21.4% you're disclosing on Page 27
of the slide deck?
Question: James Albert Picariello - KeyBanc Capital Markets Inc., Research Division - Analyst
: Can you just confirm the AV and EV investment spend again? I know it's $100 million for '18. What was the incremental number you provided for
'19?
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FEBRUARY 22, 2019 / 12:00PM, MG.TO - Q4 2018 Magna International Inc Earnings Call
Question: James Albert Picariello - KeyBanc Capital Markets Inc., Research Division - Analyst
: $70 million in addition. Okay, all right. So what specifically drove the margin improvement at the Exteriors & Structures in the quarter? I mean, you
have that one facility that you're looking to wind down. Was that really the primary driver? Or were there other factors in play? And will that facility
be closed by midyear? Is there any update on the timing?
Question: James Albert Picariello - KeyBanc Capital Markets Inc., Research Division - Analyst
: Okay. And then just one more. What's the latest dialogue on possibly expanding Magna Steyr's capacity in North America, just given the GM plant
closures that are underway?
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