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Segment Reporting | 9 Months Ended
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Sep. 30, 2014
Segment Reporting [Abstract] |
Segment Reporting | Note 5 – Segment Reporting As part of the initiative to integrate the operations of historical Gentherm and W.E.T. Automotive Systems AG, now known as Gentherm GmbH (“Gentherm GmbH”), changes were made during the first quarter of 2014 to Gentherm’s structure of internal organization. Gentherm no longer treats the operations of historical Gentherm and Gentherm GmbH as separate segments. The integration initiative also changed the scope of research and development activities which changed our reporting of segment information. As discussed in Note 3 – Gentherm Global Power Technologies, Gentherm acquired GPT on April 1, 2014. The acquisition enhances key elements of the Company’s business strategy by expanding the breadth of products derived from core thermal technologies as well as the markets in which they are applied. The chief operating decision maker analyzes the operational results of GPT separate from the automotive segment. The Company evaluated the significance of the GPT acquisition and determined it did not meet the thresholds to be presented in a separate and distinct segment. The operating results of GPT and the advanced research and product development division, formally known as the Advanced Technology segment, are presented together as a reporting segment for the Company due to the high concentration of thermoelectric technologies and power generating programs being researched by Gentherm and due to technical synergies that exist between GPT and the advanced research and product development division. The changes to the internal organization structure are reflected in the financial information used by our chief operating decision maker to allocate Company resources and assess operating performance. Corporate reconciling items include certain selling, general and administrative costs previously reflected in the Gentherm GmbH segment. Management evaluates the performance of the Company’s segments based primarily on operating income or loss. The Company’s reportable segments are as follows:
— | Automotive – the aggregated operating results from Gentherm’s three geographic operating segments: North America, Europe and Asia.
— | Industrial – the combined operating results of GPT and Gentherm’s advanced research and development division. Advanced research and development includes efforts focused on improving the efficiency of thermoelectric devices and advanced heating wire technology as well as other applications. The segment includes government sponsored research projects, including those sponsored by the U.S. Department of Energy, the German Ministry of Economics and Technology and the European Union.
— | Reconciling Items – include corporate selling, general and administrative costs and acquisition transaction costs. For the three and nine month periods ended September 30, 2014 and 2013, Gentherm allocated certain computer technology costs across all three reporting segments that had previously been reported in Reconciling Items. The total amount of computer technology costs allocated to the Automotive and Industrial segments and previously reported in Reconciling items was $2,800 and $2,600 for the six month periods ended June 30, 2014 and 2013, respectively.
Note 5 – Segment Reporting – Continued The following table presents segment information about the reported product revenues, depreciation and amortization and operating income (loss) of the Company for the three and nine month periods ended September 30, 2014 and 2013. Information presented for 2013 has been restated to conform with our new segment reporting structure, including the allocation of computer technology costs across all segments. With the exception of goodwill, asset information by segment is not reported since the Company does not manage assets at a segment level at this time. As of September 30, 2014, goodwill assigned to our Automotive and Industrial segments were $23,663 and $6,601, respectively. Goodwill as of December 31, 2013 pertained entirely to our Automotive segment.
Three Months Ended September 30, |  | Automotive |  |  | Industrial |  |  | Reconciling Items |  |  | Consolidated Total |
2014: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Product revenues |  | $ | 197,480 |  |  | $ | 8,532 |  |  | $ | — |  |  | $ | 206,012 |
Depreciation and amortization |  |  | 7,062 |  |  |  | 700 |  |  |  | 872 |  |  |  | 8,634 |
Operating income (loss) |  |  | 29,534 |  |  |  | (1,832 | ) |  |  | (3,702 | ) |  |  | 24,000 |
2013: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Product revenues |  | $ | 171,182 |  |  | $ | — |  |  | $ | — |  |  | $ | 171,182 |
Depreciation and amortization |  |  | 6,477 |  |  |  | 118 |  |  |  | 1,142 |  |  |  | 7,737 |
Operating income (loss) |  |  | 20,428 |  |  |  | (150 | ) |  |  | (5,724 | ) |  |  | 14,554 |
Nine Months Ended September 30, |  | Automotive |  |  | Industrial |  |  | Reconciling Items |  |  | Consolidated Total |
2014: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Product revenues |  | $ | 589,426 |  |  | $ | 16,706 |  |  | $ | — |  |  | $ | 606,132 |
Depreciation and amortization |  |  | 20,790 |  |  |  | 1,650 |  |  |  | 2,125 |  |  |  | 24,565 |
Operating income (loss) |  |  | 105,550 |  |  |  | (5,689 | ) |  |  | (26,810 | ) |  |  | 73,051 |
2013: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Product revenues |  | $ | 479,792 |  |  | $ | — |  |  | $ | — |  |  | $ | 479,792 |
Depreciation and amortization |  |  | 21,231 |  |  |  | 343 |  |  |  | 1,893 |  |  |  | 23,467 |
Operating income (loss) |  |  | 64,114 |  |  |  | (4,781 | ) |  |  | (26,569 | ) |  |  | 32,764 |
Total product revenues information by geographic area is as follows:
| Three Months Ended September 30, |
| 2014 |  |  | 2013 |
United States | $ | 96,680 |  |  |  | 47 | % |  | $ | 76,543 |  |  |  | 45 | %
Germany |  | 22,529 |  |  |  | 11 | % |  |  | 20,847 |  |  |  | 12 | %
South Korea |  | 21,339 |  |  |  | 10 | % |  |  | 13,546 |  |  |  | 8 | %
China |  | 17,557 |  |  |  | 9 | % |  |  | 18,285 |  |  |  | 11 | %
Japan |  | 11,970 |  |  |  | 6 | % |  |  | 10,281 |  |  |  | 6 | %
Czech Republic |  | 6,457 |  |  |  | 3 | % |  |  | 4,114 |  |  |  | 2 | %
United Kingdom |  | 5,363 |  |  |  | 3 | % |  |  | 5,180 |  |  |  | 3 | %
Mexico |  | 4,991 |  |  |  | 2 | % |  |  | 4,230 |  |  |  | 2 | %
Canada |  | 4,811 |  |  |  | 2 | % |  |  | 3,432 |  |  |  | 2 | %
Other |  | 14,315 |  |  |  | 7 | % |  |  | 14,724 |  |  |  | 9 | %
Total Non U.S. |  | 109,332 |  |  |  | 53 | % |  |  | 94,639 |  |  |  | 55 | %
| $ | 206,012 |  |  |  | 100 | % |  | $ | 171,182 |  |  |  | 100 | %
Note 5 – Segment Reporting – Continued
| Nine Months Ended September 30, |
| 2014 |  |  | 2013 |
United States | $ | 270,597 |  |  |  | 45 | % |  | $ | 211,462 |  |  |  | 44 | %
Germany |  | 70,491 |  |  |  | 12 | % |  |  | 61,332 |  |  |  | 13 | %
South Korea |  | 67,293 |  |  |  | 11 | % |  |  | 39,069 |  |  |  | 8 | %
China |  | 50,850 |  |  |  | 8 | % |  |  | 47,972 |  |  |  | 10 | %
Japan |  | 34,291 |  |  |  | 6 | % |  |  | 28,591 |  |  |  | 6 | %
Czech Republic |  | 19,398 |  |  |  | 3 | % |  |  | 11,893 |  |  |  | 3 | %
United Kingdom |  | 18,162 |  |  |  | 3 | % |  |  | 13,319 |  |  |  | 3 | %
Mexico |  | 14,752 |  |  |  | 2 | % |  |  | 11,696 |  |  |  | 2 | %
Canada |  | 12,542 |  |  |  | 2 | % |  |  | 10,533 |  |  |  | 2 | %
Other |  | 47,756 |  |  |  | 8 | % |  |  | 43,925 |  |  |  | 9 | %
Total Non U.S. |  | 335,535 |  |  |  | 55 | % |  |  | 268,330 |  |  |  | 56 | %
| $ | 606,132 |  |  |  | 100 | % |  | $ | 479,792 |  |  |  | 100 | %

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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/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 29 -URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e8864-108599 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 32 -URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e8933-108599 Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 26 -URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e8844-108599 Reference 4: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 10 -URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e8538-108599 Reference 5: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e8380-108599 Reference 6: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 34 -URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e8981-108599 Reference 7: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 35 -URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e8984-108599 Reference 8: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 41 -URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e9038-108599 Reference 9: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 30 -URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e8906-108599 Reference 10: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 42 -URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e9054-108599 Reference 11: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 31 -URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e8924-108599 Reference 12: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 40 -URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e9031-108599 Reference 13: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 33 -URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e8971-108599 Reference 14: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 12 -URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e8595-108599 + Details
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