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Gentherm Global Power Technologies (Tables) | 12 Months Ended
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Dec. 31, 2015
Business Combinations [Abstract] |
Summary of Purchase Price Allocation | The final purchase price allocation is as follows:
Accounts receivable |  | $ | 10,200 |
Inventory |  |  | 6,487 |
Deferred income tax assets, net |  |  | 3,499 |
Order backlog |  |  | 815 |
Prepaid expenses and other assets |  |  | 258 |
Property and equipment |  |  | 716 |
Customer relationships |  |  | 5,524 |
Technology |  |  | 2,807 |
Trade name |  |  | 725 |
Goodwill |  |  | 6,365 |
Assumed liabilities |  |  | (6,530 | )
Net assets acquired |  |  | 30,866 |
Cash acquired |  |  | 2,954 |
Purchase price |  | $ | 33,820 |
Supplemental Pro Forma Information | The unaudited pro forma combined historical results for the amounts of GPT’s revenue and earnings that would have been included in the Company’s consolidated statements of income had the acquisition occurred on January 1, 2014 and January 1, 2013 are as follows:
|  | Year Ended December 31, |
|  | 2014 |  |  | 2013 |
Product revenues |  | $ | 824,311 |  |  | $ | 694,697 |
Net income |  |  | 71,997 |  |  |  | 35,348 |
Roll Forward of Goodwill from Acquisition | Intangible assets, net of accumulated amortization, consisted of the following (balances are lower as of December 31, 2014 than as of April 1, 2014, the acquisition date, due to fluctuations in foreign currency exchange rates totaling $465):
|  | December 31, 2014
|  | Gross Value |  |  | Accumulated Amortization |  |  | Net Value |  |  | Useful Life
Customer relationships |  | $ | 5,264 |  |  | $ | (334 | ) |  | $ | 4,930 |  |  | 12 yrs
Order backlog |  |  | 777 |  |  |  | (777 | ) |  |  | — |  |  | 0.5 yrs
Technology |  |  | 2,675 |  |  |  | (204 | ) |  |  | 2,471 |  |  | 10 yrs
Trade name |  |  | 690 |  |  |  | (150 | ) |  |  | 540 |  |  | 3.5 yrs
Total |  | $ | 9,406 |  |  | $ | (1,465 | ) |  | $ | 7,941 |  |  |
Summary of Amortization Expense | Amortization expense of $1,962 for the year ended December 31, 2014 was recorded as follows:
|  | Year Ended December 31, 2014 |
Product revenues |  | $ | (350 | )
Selling, general and administrative expense |  |  | 1,612 |
Estimate of Total Intangible Asset Amortization | Amortization expense for the prospective five years is estimated to be as follows:
2015 |  | $ | 903 |
2016 |  |  | 903 |
2017 |  |  | 854 |
2018 |  |  | 706 |
2019 |  |  | 706 |
Summary of Property and Equipment | Property and equipment consist of the following:
Asset Category |  | Useful Life |  | Amount |
Land |  | Indefinite |  | $ | 15 |
Buildings |  | 20 yrs |  |  | 81 |
Leasehold improvements |  | 5-7 yrs |  |  | 28 |
Machinery and equipment |  | 2-5 yrs |  |  | 423 |
Computer hardware and software |  | 3-5 yrs |  |  | 169 |
|  |  |  | $ | 716 |

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