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Segment Reporting
 3 Months Ended
Mar. 31, 2017
Segment Reporting [Abstract]  
Segment Reporting

Note 4 – Segment Reporting

Segment information is used by management for making strategic operating decisions for the Company. 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 – this segment represents the design, development, manufacturing and sales of automotive seat comfort systems, specialized automotive cable systems and certain automotive and non-automotive thermal convenience products.

 

•

Industrial – the combined operating results of Gentherm Global Power Technologies (“GPT”), Cincinnati Sub-Zero Products, LLC (“CSZ”) and Gentherm’s advanced research and development division.  Advanced research and development includes efforts focused on improving the efficiency of thermoelectric technologies and advanced heating wire technology as well as other applications.  The segment includes government sponsored research projects.

 

●

Reconciling Items – include corporate selling, general and administrative costs and acquisition transaction costs.

The tables below present segment information about the reported product revenues, depreciation and amortization and operating income (loss) of the Company for three month periods ended March 31, 2017 and 2016. With the exception of goodwill, asset information by segment is not reported since the Company does not manage assets at a segment level. As of March 31, 2017, goodwill assigned to our Automotive and Industrial segments were $21,258 and $30,773, respectively. As of March 31, 2016, goodwill assigned to our Automotive and Industrial segments were $22,675 and $6,151, respectively.

Note 4 – Segment Reporting – Continued

 

Three Months Ended March 31,

  

Automotive

 

  

Industrial

 

  

Reconciling
Items

 

 

Consolidated
Total

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

2017:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Product revenues

 

$

221,833

 

 

$

27,434

 

 

$

—

 

 

$

249,267

 

Depreciation and amortization

 

 

8,131

 

 

 

1,418

 

 

 

643

 

 

 

10,192

 

Operating income (loss)

 

 

50,757

 

 

 

(2,486

)

 

 

(13,422

)

 

 

34,849

 

2016:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Product revenues

 

$

210,435

 

 

$

5,279

 

 

$

—

 

 

$

215,714

 

Depreciation and amortization

 

 

7,283

 

 

 

390

 

 

 

491

 

 

 

8,164

 

Operating income (loss)

 

 

42,701

 

 

 

(2,616)

 

 

 

(10,200

)

 

 

29,885

 

Total product revenues information by geographic area is as follows:

 

 

Three Months Ended March 31,

 

 

2017

 

 

2016

 

United States

$

119,523

 

 

 

48

%

 

$

101,740

 

 

 

47

%

China

 

20,465

 

 

 

8

%

 

 

17,422

 

 

 

8

%

Germany

 

17,868

 

 

 

7

%

 

 

18,167

 

 

 

8

%

South Korea

 

16,391

 

 

 

7

%

 

 

19,096

 

 

 

9

%

Japan

 

14,283

 

 

 

6

%

 

 

12,234

 

 

 

6

%

Canada

 

10,929

 

 

 

4

%

 

 

8,982

 

 

 

4

%

Czech Republic

 

10,707

 

 

 

4

%

 

 

9,671

 

 

 

5

%

United Kingdom

 

9,668

 

 

 

4

%

 

 

6,667

 

 

 

3

%

Mexico

 

5,370

 

 

 

2

%

 

 

5,581

 

 

 

3

%

Other

 

24,063

 

 

 

10

%

 

 

16,154

 

 

 

7

%

Total Non U.S.

 

129,744

 

 

 

52

%

 

 

113,974

 

 

 

53

%

 

$

249,267

 

 

 

100

%

 

$

215,714

 

 

 

100

%