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Segment Reporting | 9 Months Ended
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Sep. 30, 2022
Segment Reporting [Abstract] |
Segment Reporting | Note 15 – 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, lumbar and massage comfort solutions, valve system technologies, 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 and nine months ended September 30, 2022 and 2021.
Three Months Ended September 30, |  | Automotive |  |  | Medical |  |  | Corporate |  |  | Total |
2022 |  |  |  |  |  |  |  |  |  |  |  |
Product revenues |  | $ | 322,555 |  |  | $ | 10,407 |  |  | $ | — |  |  | $ | 332,962 |
Depreciation and amortization |  |  | 10,499 |  |  |  | 1,035 |  |  |  | 302 |  |  | $ | 11,836 |
Operating income (loss) |  |  | 43,067 |  |  |  | (2,232 | ) |  |  | (18,014 | ) |  | $ | 22,821 |
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 |
Nine Months Ended September 30, |  | Automotive |  |  | Medical |  |  | Corporate |  |  | Total |
2022 |  |  |  |  |  |  |  |  |  |  |  |
Product revenues |  | $ | 829,570 |  |  | $ | 31,764 |  |  | $ | — |  |  | $ | 861,334 |
Depreciation and amortization |  |  | 27,333 |  |  |  | 2,224 |  |  |  | 913 |  |  | $ | 30,470 |
Operating income (loss) |  |  | 98,367 |  |  |  | (3,264 | ) |  |  | (50,356 | ) |  | $ | 44,747 |
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 |
Automotive and Medical segment product revenues by product category for the three and nine months ended September 30, 2022 and 2021 were as follows:
|  | Three Months Ended September 30, |  |  | Nine Months Ended September 30, |
|  | 2022 |  |  | 2021 |  |  | 2022 |  |  | 2021 |
Climate Control Seat |  | $ | 112,059 |  |  | $ | 89,991 |  |  | $ | 311,281 |  |  | $ | 297,393 |
Seat Heaters |  |  | 75,568 |  |  |  | 61,516 |  |  |  | 210,367 |  |  |  | 208,101 |
Steering Wheel Heaters |  |  | 31,482 |  |  |  | 24,578 |  |  |  | 89,169 |  |  |  | 80,139 |
Automotive Cables |  |  | 18,338 |  |  |  | 19,465 |  |  |  | 59,662 |  |  |  | 66,686 |
Battery Performance Solutions |  |  | 20,331 |  |  |  | 16,928 |  |  |  | 55,395 |  |  |  | 52,265 |
Electronics |  |  | 12,083 |  |  |  | 11,567 |  |  |  | 33,190 |  |  |  | 41,324 |
Lumbar and Massage Comfort Solutions (a) |  |  | 22,740 |  |  |  | — |  |  |  | 22,740 |  |  |  | — |
Valve System Technologies (a) |  |  | 18,542 |  |  |  | — |  |  |  | 18,542 |  |  |  | — |
Other Automotive |  |  | 11,412 |  |  |  | 8,983 |  |  |  | 29,224 |  |  |  | 21,595 |
Subtotal Automotive segment |  |  | 322,555 |  |  |  | 233,028 |  |  |  | 829,570 |  |  |  | 767,503 |
Medical segment (a) |  |  | 10,407 |  |  |  | 10,356 |  |  |  | 31,764 |  |  |  | 30,421 |
Total Company |  | $ | 332,962 |  |  | $ | 243,384 |  |  | $ | 861,334 |  |  | $ | 797,924 |
(a) Includes product revenues from acquisitions since their respective acquisition dates (see Note 3). Total product revenues information by geographic area for the three and nine months ended September 30, 2022 and 2021 is as follows (based on shipment destination):
|  | Three Months Ended September 30, |  |  | Nine Months Ended September 30, |
|  | 2022 |  |  | 2021 |  |  | 2022 |  |  | 2021 |
United States |  | $ | 131,021 |  |  | $ | 96,683 |  |  | $ | 337,759 |  |  | $ | 314,144 |
China |  |  | 57,439 |  |  |  | 32,198 |  |  |  | 127,183 |  |  |  | 99,570 |
South Korea |  |  | 22,751 |  |  |  | 20,894 |  |  |  | 67,632 |  |  |  | 71,050 |
Germany |  |  | 19,454 |  |  |  | 16,011 |  |  |  | 54,805 |  |  |  | 51,541 |
Japan |  |  | 17,603 |  |  |  | 17,054 |  |  |  | 42,305 |  |  |  | 52,607 |
Romania |  |  | 11,592 |  |  |  | 10,850 |  |  |  | 35,866 |  |  |  | 40,801 |
Czech Republic |  |  | 13,247 |  |  |  | 7,650 |  |  |  | 35,630 |  |  |  | 33,460 |
Finland |  |  | 9,757 |  |  |  | 7,866 |  |  |  | 26,244 |  |  |  | 21,780 |
Slovakia |  |  | 8,109 |  |  |  | 6,294 |  |  |  | 25,755 |  |  |  | 23,655 |
Canada |  |  | 5,093 |  |  |  | 4,704 |  |  |  | 17,047 |  |  |  | 14,403 |
Other |  |  | 36,896 |  |  |  | 23,180 |  |  |  | 91,108 |  |  |  | 74,913 |
Total Non-U.S. |  |  | 201,941 |  |  |  | 146,701 |  |  |  | 523,575 |  |  |  | 483,780 |
Total Company |  | $ | 332,962 |  |  | $ | 243,384 |  |  | $ | 861,334 |  |  | $ | 797,924 |

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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 https://asc.fasb.org/extlink&oid=126901519&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 https://asc.fasb.org/extlink&oid=126901519&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 https://asc.fasb.org/extlink&oid=126901519&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 https://asc.fasb.org/extlink&oid=126901519&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 https://asc.fasb.org/extlink&oid=126901519&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 https://asc.fasb.org/extlink&oid=126901519&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 https://asc.fasb.org/extlink&oid=126901519&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 https://asc.fasb.org/extlink&oid=126901519&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 https://asc.fasb.org/extlink&oid=126901519&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 https://asc.fasb.org/extlink&oid=126901519&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 https://asc.fasb.org/extlink&oid=126901519&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 https://asc.fasb.org/extlink&oid=126901519&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 https://asc.fasb.org/extlink&oid=126901519&loc=d3e8721-108599 Reference 14: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -URI https://asc.fasb.org/topic&trid=2134510 + Details
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