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Segment Reporting
 3 Months Ended
Mar. 31, 2022
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 results from our patient temperature management business within the medical industry.

The Corporate category includes unallocated costs related to our corporate headquarter activities, including selling, general and administrative costs and acquisition transaction costs, which do not meet the requirements for being classified as an operating segment.

The tables below present segment information about the reported product revenues, depreciation and amortization and operating income (loss) of the Company for three months ended March 31, 2022 and 2021.

Three Months Ended March 31,

 

Automotive

 

 

Medical

 

 

Corporate

 

 

Total

 

2022:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Product revenues

 

$

257,864

 

 

$

9,793

 

 

$

—

 

 

$

267,657

 

Depreciation and amortization

 

 

8,667

 

 

 

604

 

 

 

306

 

 

$

9,577

 

Operating income (loss)

 

 

31,275

 

 

 

(851

)

 

 

(16,234

)

 

$

14,190

 

2021:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Product revenues

 

$

279,370

 

 

$

9,165

 

 

$

—

 

 

$

288,535

 

Depreciation and amortization

 

 

9,053

 

 

 

584

 

 

 

217

 

 

$

9,854

 

Operating income (loss)

 

 

53,116

 

 

 

(531

)

 

 

(11,836

)

 

$

40,749

 

 

Automotive and Medical segment product revenues by product category for the three months ended March 31, 2022 and 2021 were as follows:

 

 

Three Months Ended March 31,

 

 

 

2022

 

 

2021

 

Climate Control Seat

 

$

102,734

 

 

$

109,173

 

Seat Heaters

 

 

68,896

 

 

 

76,721

 

Steering Wheel Heaters

 

 

28,736

 

 

 

28,864

 

Automotive Cables

 

 

22,045

 

 

 

24,281

 

Battery Performance Solutions

 

 

17,613

 

 

 

17,760

 

Electronics

 

 

10,828

 

 

 

15,105

 

Other Automotive

 

 

7,012

 

 

 

7,466

 

Subtotal Automotive segment

 

 

257,864

 

 

 

279,370

 

Medical segment

 

 

9,793

 

 

 

9,165

 

Total Company

 

$

267,657

 

 

$

288,535

 

 

Total product revenues information by geographic area for the three months ended March 31, 2022 and 2021 is as follows (based on shipment destination):

 

 

Three Months Ended March 31,

 

 

 

2022

 

 

2021

 

United States

 

$

104,122

 

 

$

115,287

 

China

 

 

38,353

 

 

 

33,515

 

South Korea

 

 

21,175

 

 

 

24,640

 

Germany

 

 

19,786

 

 

 

19,180

 

Romania

 

 

12,755

 

 

 

15,085

 

Japan

 

 

11,816

 

 

 

17,920

 

Other

 

 

59,650

 

 

 

62,908

 

Total Non-U.S.

 

 

163,535

 

 

 

173,248

 

Total Company

 

$

267,657

 

 

$

288,535