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Pension and Other Post Retirement Benefit Plans (Tables)

12 Months Ended

Dec. 31, 2017

Defined Benefit Plan Disclosure [Line Items]

Benefit Obligation, Amounts Recognized Company's Financial Statements and Principal Assumptions

The Company records a projected benefit obligation representing the present value of future plan benefits when earned by the participant. The following table sets forth the benefit obligation, amounts recognized in the Company’s financial statements and the principal assumptions used:

		2017				2016
Change in projected benefit obligation:
Benefit obligation at beginning of year		$	3,419			$	2,898
Service cost			101				387
Interest cost			111				98
Actuarial (gain) loss			78				36
Prior service cost			509				—
Benefit obligation at end of year		$	4,218			$	3,419

Components of Net Periodic Pension Benefit Cost

Components of the Plan’s net periodic pension benefit cost for the years ended December 31, 2017, 2016 and 2015 are as follows:

		2017				2016				2015
Service cost		$	101			$	387			$	379
Interest cost			111				98				80
Amortization of actuarial losses			—				—				27
Amortization of prior service cost			509				—				—
Net periodic benefit cost		$	721			$	485			$	486

Pretax Amounts Recognized in Other Comprehensive (Loss) Income

Pretax amounts recognized in other comprehensive income for the years ended December 31, 2017, 2016 and 2015 are as follows

		2017				2016			2015
Actuarial Losses/(gains)		$	78			$	36		$	(35	)
Amortization of actuarial losses			—				—			(27	)
Establish prior service cost			509				—			—
Amortization prior service cost			(509	)			—			—
		$	78			$	36		$	(62	)

Fair Value of Plan Assets

The following table sets forth the fair value of the plan assets for the periods ending December 31, 2017 and 2016:

		2017				2016
Change in plan assets:
Plan assets at beginning of year		$	3,326			$	3,333
Actual return on plan assets			121				125
Contributions			272				261
Paid pension distributions			(272	)			(261	)
Actuarial losses			(28	)			(27	)
Exchange rate impact			472				(105	)
Plan assets at end of year		$	3,891			$	3,326

Actuarial Assumptions Used to Determine Benefit Obligation and Net Periodic Service Cost

The Gentherm GmbH defined benefit plan is underfunded by $4,036 and $4,000 as of December 31, 2017 and 2016, respectively. The net periodic benefit cost is included in selling, general and administrative expenses in the Company’s consolidated statements of income and actuarial gains and losses are included the Company’s consolidated balance sheet as part of accumulated other comprehensive income within shareholders’ equity. Actuarial gains or losses are amortized to selling, general and administrative expense in the Company’s consolidated statements of income using the corridor method. The following table describes the actuarial assumptions used to determine the benefit obligation and the net periodic service cost:

		2017				2016				2015
Discount rate			1.93	%			1.69	%			2.21	%
Expected long term rate of return on plan assets			3.40	%			3.40	%			3.70	%

Schedule of Expected Pension Payments

The schedule of expected pension payments made to Gentherm GmbH defined benefit plan participants over the next 10 years is as follows:

Year
2018		$	293
2019			291
2020			289
2021			287
2022			283
2023 - 2027			1,392
Total		$	2,835

Gentherm GmbH

Defined Benefit Plan Disclosure [Line Items]

Benefit Obligation, Amounts Recognized Company's Financial Statements and Principal Assumptions

Gentherm GmbH records a projected benefit obligation representing the present value of future plan benefits when earned by the participant. The following table sets forth the benefit obligation and amounts recognized in the Company’s financial statements:

		2017				2016
Change in projected benefit obligation:
Benefit obligation at beginning of year		$	7,326			$	6,980
Interest cost			130				154
Paid pension distributions			(272	)			(261	)
Actuarial (gains)/losses			(257	)			691
Exchange rate impact			1,000				(238	)
Benefit obligation at end of year		$	7,927			$	7,326

Components of Net Periodic Pension Benefit Cost

Components of the Plan’s net periodic pension benefit cost for the years ended December 31, 2017, 2016 and 2015 are as follows:

		2017				2016				2015
Interest cost		$	130			$	154			$	142
Return on plan assets			(121	)			(125	)			(126	)
Amortization of prior service cost			—				—				572
Amortization of actuarial loss (gains)			78				48				59
Net periodic benefit cost		$	87			$	77			$	647

Pretax Amounts Recognized in Other Comprehensive (Loss) Income

Pretax amounts recognized in other comprehensive (loss) income for the years ended December 31, 2017, 2016 and 2015 are as follows:

		2017				2016			2015
Actuarial (gains)/losses		$	(229	)		$	718		$	(154	)
Amortization of actuarial losses			(78	)			(48	)		(59	)
Amortization of prior service cost			—				—			(572	)
		$	(307	)		$	670		$	(785	)

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Tabular disclosure of the net gain (loss) and net prior service cost or credit recognized in other comprehensive income (loss) for the period for pension plans and/or other employee benefit plans, and reclassification adjustments of other comprehensive income (loss) for the period, as those amounts, including amortization of the net transition asset or obligation, are recognized as components of net periodic benefit cost.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 715
-SubTopic 20
-Section 50
-Paragraph 1
-Subparagraph (i)
-URI http://asc.fasb.org/extlink&oid=82843861&loc=d3e1928-114920

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Tabular disclosure of the aggregate benefit obligation and aggregate fair value of plan assets for pension plans and/or other employee benefit plans with benefit obligations in excess of plan assets as of the measurement date.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 715
-SubTopic 20
-Section 50
-Paragraph 3
-Subparagraph (a)
-URI http://asc.fasb.org/extlink&oid=82843861&loc=d3e2417-114920

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Tabular disclosure of the changes in plan assets and benefit obligations recognized in other comprehensive income (loss) during the period.

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Tabular disclosure of benefits expected to be paid by pension plans and/or other employee benefit plans in each of the next five fiscal years and in the aggregate for the five fiscal years thereafter.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 715
-SubTopic 20
-Section 50
-Paragraph 1
-Subparagraph (f)
-URI http://asc.fasb.org/extlink&oid=82843861&loc=d3e1928-114920

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+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 715
-SubTopic 20
-Section 50
-Paragraph 1
-Subparagraph (h)
-URI http://asc.fasb.org/extlink&oid=82843861&loc=d3e1928-114920

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Tabular disclosure of the amounts related to pension plans and/or other employee benefit plans in accumulated other comprehensive income or loss that have not yet been recognized as components of net periodic benefit cost, such as the net gain (loss), net prior service cost or credit, and net transition asset or obligation.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 715
-SubTopic 20
-Section 50
-Paragraph 1
-Subparagraph (j)
-URI http://asc.fasb.org/extlink&oid=82843861&loc=d3e1928-114920

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