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Segment Reporting | 12 Months Ended
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Dec. 31, 2021
Segment Reporting [Abstract] |
Segment Reporting | SEGMENT REPORTING ASC 280, Segment Reporting, requires that a public enterprise report financial and descriptive information about its reportable operating segments subject to certain aggregation criteria and quantitative thresholds. Operating segments are defined by ASC 280 as components of an enterprise about which separate financial information is available that is evaluated regularly by the chief operating decision-makers in deciding how to allocate resources and in assessing performance.
| 2021 |  | 2020 |  | 2019
Revenue: |  |  |  |  |
Automotive Products |  |  |  |  |
United States | $ | 542,690,346 |  |  | $ | 519,337,271 |  |  | $ | 569,939,756 |
Germany | 234,994,551 |  |  | 228,652,827 |  |  | 296,276,971 |
Japan | 211,417,475 |  |  | 216,100,530 |  |  | 225,577,146 |
Mexico | 111,761,245 |  |  | 127,157,684 |  |  | 160,967,900 |
Other Countries | 596,324,417 |  |  | 556,949,831 |  |  | 557,775,114 |
Other | 33,981,895 |  |  | 39,991,262 |  |  | 48,360,519 |
Total | $ | 1,731,169,929 |  |  | $ | 1,688,189,405 |  |  | $ | 1,858,897,406 |
Income (Loss) from Operations: |  |  |  |  |
Automotive Products | $ | 414,185,075 |  |  | $ | 393,979,860 |  |  | $ | 473,546,112 |
Other | (4,403,097) |  |  | 5,576,232 |  |  | 14,991,492 |
Total | $ | 409,781,978 |  |  | $ | 399,556,092 |  |  | $ | 488,537,604 |
Assets: |  |  |  |  |
Automotive Products | $ | 1,495,298,453 |  |  | $ | 1,436,374,596 |  |  | $ | 1,463,030,286 |
Other | 34,760,744 |  |  | 33,317,668 |  |  | 16,000,669 |
Corporate | 601,331,969 |  |  | 728,248,906 |  |  | 689,772,238 |
Total | $ | 2,131,391,166 |  |  | $ | 2,197,941,170 |  |  | $ | 2,168,803,193 |
Depreciation & Amortization: |  |  |  |  |
Automotive Products | $ | 92,516,347 |  |  | $ | 97,530,191 |  |  | $ | 97,520,972 |
Other | 913,451 |  |  | 689,894 |  |  | 481,861 |
Corporate | 5,682,221 |  |  | 6,519,815 |  |  | 6,700,141 |
Total | $ | 99,112,019 |  |  | $ | 104,739,900 |  |  | $ | 104,702,974 |
Capital Expenditures: |  |  |  |  |
Automotive Products | $ | 58,415,887 |  |  | $ | 34,926,686 |  |  | $ | 63,537,512 |
Other | 1,467,962 |  |  | 1,470,705 |  |  | 1,704,045 |
Corporate | 8,951,198 |  |  | 15,309,150 |  |  | 19,338,698 |
Total | $ | 68,835,047 |  |  | $ | 51,706,541 |  |  | $ | 84,580,255 |
Other includes Dimmable Aircraft Windows, Fire Protection Products, and Nanofiber. Major product line revenues included within the Automotive Products segment are as follows:
| 2021 |  | 2020 |  | 2019
Automotive Products |  |  |  |  |
Automotive Mirrors | $ | 1,563,424,443 |  |  | $ | 1,520,628,604 |  |  | $ | 1,638,600,272 |
HomeLink® Modules* | 133,763,591 |  |  | 127,569,539 |  |  | 171,936,615 |
Total Automotive Products | $ | 1,697,188,034 |  |  | $ | 1,648,198,143 |  |  | $ | 1,810,536,887 |
Other Products Revenue | $ | 33,981,895 |  |  | $ | 39,991,262 |  |  | $ | 48,360,519 |
Total Revenue | $ | 1,731,169,929 |  |  | $ | 1,688,189,405 |  |  | $ | 1,858,897,406 |
*Excludes HomeLink® revenue integrated into automotive mirrors. Corporate assets are principally cash and cash equivalents, investments, deferred income taxes and corporate fixed assets. Depreciation & Amortization on corporate fixed assets are allocated as appropriate to the Automotive and Other segments when reviewing operating results. Substantially all long-lived assets are located in the U.S. Automotive Products revenues in the “Other countries” category are sales to customer automotive manufacturing plants in Korea, Canada, Hungary, China, and the United Kingdom as well as other foreign automotive customers. Most of the Company’s non-U.S. sales are invoiced and paid in U.S. dollars. During the years ended December 31, 2021, 2020 and 2019, approximately 8%, 7% and 7% of the Company’s net sales were invoiced and paid in foreign currencies, respectively. In 2021, the Company had three automotive customers (including direct sales to OEM customers and sales through their Tier 1 suppliers), which individually accounted for 10% or more of net sales as follows:
| Toyota Motor Company |  | Volkswagen Group |  | General Motors
2021 | 15% |  | 13% |  | 11%
2020 | 14% |  | 14% |  | 12%
2019 | 13% |  | 14% |  | 11%
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- Definition The entire disclosure for reporting segments including data and tables. Reportable segments include those that meet any of the following quantitative thresholds a) it's reported revenue, including sales to external customers and intersegment sales or transfers is 10 percent or more of the combined revenue, internal and external, of all operating segments b) the absolute amount of its reported profit or loss is 10 percent or more of the greater, in absolute amount of 1) the combined reported profit of all operating segments that did not report a loss or 2) the combined reported loss of all operating segments that did report a loss c) its assets are 10 percent or more of the combined assets of all operating segments. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 31 -URI http://asc.fasb.org/extlink&oid=123359005&loc=d3e8924-108599 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 34 -URI http://asc.fasb.org/extlink&oid=123359005&loc=d3e8981-108599 Reference 3: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 21 -Subparagraph (a) -URI http://asc.fasb.org/extlink&oid=123359005&loc=d3e8721-108599 Reference 4: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 40 -URI http://asc.fasb.org/extlink&oid=123359005&loc=d3e9031-108599 Reference 5: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 32 -Subparagraph (f) -URI http://asc.fasb.org/extlink&oid=123359005&loc=d3e8933-108599 Reference 6: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 32 -Subparagraph (e) -URI http://asc.fasb.org/extlink&oid=123359005&loc=d3e8933-108599 Reference 7: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 26 -URI http://asc.fasb.org/extlink&oid=123359005&loc=d3e8844-108599 Reference 8: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 41 -URI http://asc.fasb.org/extlink&oid=123359005&loc=d3e9038-108599 Reference 9: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 32 -Subparagraph (d) -URI http://asc.fasb.org/extlink&oid=123359005&loc=d3e8933-108599 Reference 10: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 22 -URI http://asc.fasb.org/extlink&oid=123359005&loc=d3e8736-108599 Reference 11: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 42 -URI http://asc.fasb.org/extlink&oid=123359005&loc=d3e9054-108599 Reference 12: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 15 -URI http://asc.fasb.org/extlink&oid=123359005&loc=d3e8657-108599 Reference 13: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 21 -Subparagraph (b) -URI http://asc.fasb.org/extlink&oid=123359005&loc=d3e8721-108599 Reference 14: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -URI http://asc.fasb.org/topic&trid=2134510 + Details
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