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Segment Reporting | 12 Months Ended
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Dec. 31, 2020
Segment Reporting [Abstract] |
Segment Reporting | Note 20 — Segment Reporting Segment information is used by management for making 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 climate comfort systems, automotive cable systems, battery performance solutions, and automotive electronic and software systems.
| • | Medical — this segment represents the combined results from our Medical business, GPT (through October 1, 2019), CSZ-IC (through February 1, 2019) and non-automotive expenses from Gentherm’s advanced research and development division (through December 31, 2019). The operating results from these businesses and division are presented together as one reporting segment because of their historical joint concentration on identifying new markets and product applications based on thermal management technologies. With the remaining temperature management business being the primary focus now in this segment, we have renamed it to reflect the strategic direction of this segment.
| • | Corporate — includes corporate costs, selling, general and administrative costs and acquisition transaction costs. This segment has been renamed this year to better align with the costs allocated to this segment. It was previously named ‘Reconciling Items’.
In 2018 and 2019, our Industrial reporting segment represented the combined results from our patient temperature management systems business, GPT (through its divestiture on October 1, 2019), CSZ-IC (through its divestiture on February 1, 2019) and non-automotive expenses from our advanced research and development division (through December 31, 2019). The operating results from these businesses and division previously were presented together as one reporting segment because of their historical joint concentration on identifying new markets and product applications based on thermal management technologies. In 2020, the Industrial reporting segment was renamed the Medical reporting segment to reflect the patient temperature management business as the focus and strategic direction of this segment. Also, during 2020, the advanced research and development costs not associated with the Medical segment were moved to the Automotive segment, as this organization now primarily supports the Automotive related development activities following the divestitures of GPT and CSZ-IC. For comparability to the prior years, we have moved the portion of advanced research and development costs to the Automotive segment that were focused on technologies related to automotive in 2018 and 2019 in both the Depreciation and amortization and Operating income (loss) lines in the table below. The tables below present segment information about the reported product revenues and operating income of the Company for years ended December 31, 2020, 2019 and 2018. With the exception of goodwill, asset information by segment is not reported since the Company does not manage assets at a segment level.
|  | Automotive |  |  | Medical |  |  | Corporate |  |  | Total |
2020: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Product revenues |  | $ | 869,998 |  |  | $ | 43,100 |  |  | $ | — |  |  | $ | 913,098 |
Depreciation and amortization |  |  | 37,662 |  |  |  | 2,366 |  |  |  | 1,086 |  |  | $ | 41,114 |
Operating income (loss) |  |  | 138,410 |  |  |  | 971 |  |  |  | (50,164 | ) |  | $ | 89,217 |
2019: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Product revenues |  | $ | 920,225 |  |  | $ | 51,459 |  |  | $ | — |  |  | $ | 971,684 |
Depreciation and amortization |  |  | 40,923 |  |  |  | 1,621 |  |  |  | 1,702 |  |  | $ | 44,246 |
Operating income (loss) |  |  | 141,206 |  |  |  | (5,735 | ) |  |  | (51,211 | ) |  | $ | 84,260 |
2018: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Product revenues |  | $ | 957,824 |  |  | $ | 90,681 |  |  | $ | — |  |  | $ | 1,048,505 |
Depreciation and amortization |  |  | 44,246 |  |  |  | 3,759 |  |  |  | 2,633 |  |  | $ | 50,638 |
Operating income (loss) |  |  | 136,421 |  |  |  | (6,900 | ) |  |  | (56,733 | ) |  | $ | 72,788 |
Automotive and Medical segment product revenues by product category for each of the years ended December 31, 2020, 2019 and 2018 are as follows:
|  | Year Ended December 31, |
|  | 2020 |  |  | 2019 |  |  | 2018 |
Climate Control Seat (CCS) |  | $ | 342,550 |  |  | $ | 359,355 |  |  | $ | 373,945 |
Seat Heaters |  |  | 249,665 |  |  |  | 284,174 |  |  |  | 305,337 |
Steering Wheel Heaters |  |  | 76,272 |  |  |  | 65,426 |  |  |  | 69,845 |
Automotive Cables |  |  | 73,997 |  |  |  | 88,031 |  |  |  | 98,931 |
Electronics |  |  | 53,238 |  |  |  | 47,542 |  |  |  | 56,783 |
Battery Performance Solutions (BPS)(a) |  |  | 50,901 |  |  |  | 41,498 |  |  |  | 28,472 |
Other Automotive |  |  | 23,375 |  |  |  | 34,199 |  |  |  | 24,511 |
Subtotal Automotive segment |  |  | 869,998 |  |  |  | 920,225 |  |  |  | 957,824 |
Medical |  |  | 43,100 |  |  |  | 36,860 |  |  |  | 30,108 |
GPT |  |  | — |  |  |  | 11,181 |  |  |  | 19,520 |
CSZ-IC |  |  | — |  |  |  | 3,418 |  |  |  | 41,053 |
Subtotal Medical segment |  |  | 43,100 |  |  |  | 51,459 |  |  |  | 90,681 |
Total Company |  | $ | 913,098 |  |  | $ | 971,684 |  |  | $ | 1,048,505 |
(a) | Battery Performance Solutions (BPS) was renamed from Battery Thermal Management (BTM), to better represent our product offerings included within this product category.
Revenue (based on shipment destination) by geographic area for each of the years ended December 31, 2020, 2019 and 2018 is as follows:
|  | Year Ended December 31, |
|  | 2020 |  |  | 2019 |  |  | 2018 |
United States |  | $ | 377,577 |  |  | $ | 440,316 |  |  | $ | 488,926 |
China |  |  | 101,039 |  |  |  | 71,461 |  |  |  | 93,628 |
South Korea |  |  | 88,745 |  |  |  | 63,339 |  |  |  | 58,717 |
Germany |  |  | 58,536 |  |  |  | 81,315 |  |  |  | 88,366 |
Japan |  |  | 57,785 |  |  |  | 76,197 |  |  |  | 62,633 |
Czech Republic |  |  | 37,542 |  |  |  | 38,888 |  |  |  | 42,665 |
Other |  |  | 191,874 |  |  |  | 200,168 |  |  |  | 213,570 |
Total Non-U.S. |  |  | 535,521 |  |  |  | 531,368 |  |  |  | 559,579 |
Total Company |  | $ | 913,098 |  |  | $ | 971,684 |  |  | $ | 1,048,505 |
The table below lists the percentage of total product revenues generated from sales to customers which contributed 10% or more to the Company’s total consolidated product revenue for the years ended December 31, 2020, 2019 and 2018:
|  | Year Ended December 31, |
|  | 2020 |  |  | 2019 |  |  | 2018 |
Lear |  |  | 15 | % |  |  | 16 | % |  |  | 17 | %
Adient |  |  | 14 | % |  |  | 15 | % |  |  | 16 | %
Property and equipment, net, for each of the geographic areas in which the Company operates as of December 31, 2020 and 2019 is as follows:
|  | December 31, |
Property and equipment, net |  | 2020 |  |  | 2019 |
Macedonia |  | $ | 38,273 |  |  | $ | 38,989 |
Vietnam |  |  | 21,080 |  |  |  | 21,452 |
China |  |  | 20,375 |  |  |  | 23,721 |
United States |  |  | 19,011 |  |  |  | 21,280 |
Mexico |  |  | 16,034 |  |  |  | 19,982 |
Germany |  |  | 15,641 |  |  |  | 10,515 |
Ukraine |  |  | 9,364 |  |  |  | 11,727 |
Hungary |  |  | 8,401 |  |  |  | 6,803 |
Other |  |  | 4,402 |  |  |  | 6,136 |
Total |  | $ | 152,581 |  |  | $ | 160,605 |

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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=120311839&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=120311839&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=120311839&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=120311839&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=120311839&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=120311839&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=120311839&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=120311839&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=120311839&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=120311839&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=120311839&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=120311839&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=120311839&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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