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Segment Reporting | 9 Months Ended
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Sep. 30, 2021
Segment Reporting [Abstract] |
Segment Reporting | Note 14 – 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 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.
| • | Corporate – includes corporate costs, selling, general and administrative costs and acquisition transaction costs. This segment was renamed during fourth quarter of 2020 to better align with the costs allocated to this segment. It was previously named ‘Reconciling Items’.
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 presented within the Automotive segment, as the advanced research and development organization now primarily supports the Automotive related development activities following the divestitures of GPT and CSZ-IC. For comparability to the prior year, we have moved the portion of advanced research and development costs to the Automotive segment that were focused on technologies related to automotive 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, depreciation and amortization and operating income (loss) of the Company for three and nine months ended September 30, 2021 and 2020.
Three Months Ended September 30, |  | Automotive |  |  | Medical |  |  | Corporate |  |  | Total |
2021: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Product revenues |  | $ | 233,028 |  |  | $ | 10,356 |  |  | $ | — |  |  | $ | 243,384 |
Depreciation and amortization |  |  | 8,977 |  |  |  | 654 |  |  |  | 228 |  |  | $ | 9,859 |
Operating income (loss) |  |  | 33,129 |  |  |  | (974 | ) |  |  | (11,451 | ) |  | $ | 20,704 |
2020: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Product revenues |  | $ | 249,764 |  |  | $ | 9,776 |  |  | $ | — |  |  | $ | 259,540 |
Depreciation and amortization |  |  | 9,403 |  |  |  | 590 |  |  |  | 296 |  |  | $ | 10,289 |
Operating income (loss) |  |  | 55,397 |  |  |  | (286 | ) |  |  | (16,605 | ) |  | $ | 38,506 |
Nine Months Ended September 30, |  | Automotive |  |  | Medical |  |  | Corporate |  |  | Total |
2021: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Product revenues |  | $ | 767,503 |  |  | $ | 30,421 |  |  | $ | — |  |  | $ | 797,924 |
Depreciation and amortization |  |  | 26,923 |  |  |  | 1,818 |  |  |  | 689 |  |  | $ | 29,430 |
Operating income (loss) |  |  | 129,788 |  |  |  | (1,392 | ) |  |  | (35,271 | ) |  | $ | 93,125 |
2020: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Product revenues |  | $ | 590,622 |  |  | $ | 33,592 |  |  | $ | — |  |  | $ | 624,214 |
Depreciation and amortization |  |  | 28,191 |  |  |  | 1,768 |  |  |  | 818 |  |  | $ | 30,777 |
Operating income (loss) |  |  | 81,236 |  |  |  | 1,580 |  |  |  | (35,506 | ) |  | $ | 47,310 |
Automotive and Medical segment product revenues by product category for the three and nine months ended September 30, 2021 and 2020 were as follows:
|  | Three Months Ended September 30, |  |  | Nine Months Ended September 30, |
|  | 2021 |  |  | 2020 |  |  | 2021 |  |  | 2020 |
Climate Control Seat (CCS) |  | $ | 89,991 |  |  | $ | 97,058 |  |  | $ | 297,393 |  |  | $ | 229,465 |
Seat Heaters |  |  | 61,516 |  |  |  | 73,471 |  |  |  | 208,101 |  |  |  | 171,345 |
Steering Wheel Heaters |  |  | 24,578 |  |  |  | 22,506 |  |  |  | 80,139 |  |  |  | 49,721 |
Automotive Cables |  |  | 19,465 |  |  |  | 18,917 |  |  |  | 66,686 |  |  |  | 50,890 |
Battery Performance Solutions (BPS) |  |  | 16,928 |  |  |  | 15,956 |  |  |  | 52,265 |  |  |  | 33,818 |
Electronics |  |  | 11,567 |  |  |  | 14,463 |  |  |  | 41,324 |  |  |  | 38,327 |
Other Automotive |  |  | 8,983 |  |  |  | 7,393 |  |  |  | 21,595 |  |  |  | 17,056 |
Subtotal Automotive segment |  |  | 233,028 |  |  |  | 249,764 |  |  |  | 767,503 |  |  |  | 590,622 |
Medical segment |  |  | 10,356 |  |  |  | 9,776 |  |  |  | 30,421 |  |  |  | 33,592 |
Total Company |  | $ | 243,384 |  |  | $ | 259,540 |  |  | $ | 797,924 |  |  | $ | 624,214 |
Total product revenues information by geographic area for the three and nine months ended September 30, 2021 and 2020 is as follows (based on shipment destination):
|  | Three Months Ended September 30, |  |  | Nine Months Ended September 30, |
|  | 2021 |  |  | 2020 |  |  | 2021 |  |  | 2020 |
United States |  | $ | 96,683 |  |  | $ | 111,189 |  |  | $ | 314,144 |  |  | $ | 264,204 |
China |  |  | 32,198 |  |  |  | 27,363 |  |  |  | 99,570 |  |  |  | 63,883 |
South Korea |  |  | 20,894 |  |  |  | 23,260 |  |  |  | 71,050 |  |  |  | 60,062 |
Japan |  |  | 17,054 |  |  |  | 15,280 |  |  |  | 52,607 |  |  |  | 40,766 |
Germany |  |  | 16,011 |  |  |  | 14,553 |  |  |  | 51,541 |  |  |  | 41,144 |
Other |  |  | 60,544 |  |  |  | 67,895 |  |  |  | 209,012 |  |  |  | 154,155 |
Total Non-U.S. |  |  | 146,701 |  |  |  | 148,351 |  |  |  | 483,780 |  |  |  | 360,010 |
Total Company |  | $ | 243,384 |  |  | $ | 259,540 |  |  | $ | 797,924 |  |  | $ | 624,214 |

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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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