XML 28 R14.htm IDEA: XBRL DOCUMENT
v3.22.4

Goodwill and Other Intangibles | 12 Months Ended
--- | ---
Dec. 31, 2022
Goodwill and Intangible Assets Disclosure [Abstract] |
Goodwill and Other Intangibles | Note 7 — Goodwill and Other Intangibles Goodwill Changes in the carrying amount of goodwill, by reportable segment, for the years ended December 31, 2022 and 2021 were as follows:
|  | Automotive |  |  | Medical |  |  | Total |
Balance as of December 31, 2020 |  | $ | 39,495 |  |  | $ | 28,529 |  |  | $ | 68,024 |
Acquisition of B&E |  |  | — |  |  |  | 976 |  |  |  | 976 |
Exchange rate impact |  |  | (2,166 | ) |  |  | (801 | ) |  |  | (2,967 | )
Balance as of December 31, 2021 |  | $ | 37,329 |  |  | $ | 28,704 |  |  | $ | 66,033 |
Acquisition of Dacheng |  |  | — |  |  |  | 19,016 |  |  |  | 19,016 |
Acquisition of Alfmeier |  |  | 34,494 |  |  |  | — |  |  |  | 34,494 |
Exchange rate impact |  |  | 1,246 |  |  |  | (1,015 | ) |  |  | 231 |
Balance as of December 31, 2022 |  | $ | 73,069 |  |  | $ | 46,705 |  |  | $ | 119,774 |
Other Intangible Assets Other intangible assets and accumulated amortization balances as of December 31, 2022 and 2021 were as follows:
|  | Gross Carrying Value |  |  | Accumulated Amortization |  |  | Net Carrying Value |
Definite-lived: |  |  |  |  |  |  |  |  |
Customer relationships |  | $ | 112,286 |  |  | $ | (65,748 | ) |  | $ | 46,538 |
Technology |  |  | 44,745 |  |  |  | (25,709 | ) |  |  | 19,036 |
Product development costs |  |  | 18,774 |  |  |  | (18,456 | ) |  |  | 318 |
Software development |  |  | 1,007 |  |  |  | — |  |  |  | 1,007 |
Indefinite-lived: |  |  |  |  |  |  |  |  |
Tradenames |  |  | 7,034 |  |  |  | — |  |  |  | 7,034 |
Balance as of December 31, 2022 |  | $ | 183,846 |  |  | $ | (109,913 | ) |  | $ | 73,933 |
|  | Gross Carrying Value |  |  | Accumulated Amortization |  |  | Net Carrying Value |
Definite-lived: |  |  |  |  |  |  |  |  |
Customer relationships |  | $ | 90,448 |  |  | $ | (64,105 | ) |  | $ | 26,343 |
Technology |  |  | 29,464 |  |  |  | (24,487 | ) |  |  | 4,977 |
Product development costs |  |  | 20,329 |  |  |  | (19,772 | ) |  |  | 557 |
Software development |  |  | 1,007 |  |  |  | — |  |  |  | 1,007 |
Indefinite-lived: |  |  |  |  |  |  |  |  |
Tradenames |  |  | 4,670 |  |  |  | — |  |  |  | 4,670 |
Balance as of December 31, 2021 |  | $ | 145,918 |  |  | $ | (108,364 | ) |  | $ | 37,554 |
On December 31, 2022, the Company approved a plan to exit its non-automotive electronics business, resulting in an impairment of our customer relationships intangible assets of $5,601. See Note 5, "Restructuring and Impairments," to the consolidated financial statements included in this Annual Report for additional information. In connection with the acquisition of Alfmeier, the Company recorded technology of $11,647 and customer relationships of $19,812. These definite-lived assets are being amortized using the straight-line method over their estimated useful lives of approximately 9 years and 14 years, respectively. In connection with the acquisition of Dacheng, the Company recorded technology of $4,749, customer relationships of $12,837, and indefinite-lived tradenames of $2,473. Technology and customer relationships are definite-lived assets that are being amortized using the straight-line method over their estimated useful lives of approximately 12 years for each. In connection with the acquisition of B&E, the Company recorded technology of $976. These definite-lived assets are being amortized using the straight-line method over their estimated useful lives of approximately seven years. On February 28, 2020, Gentherm acquired the automotive patents and technology of a development-stage technology company for $3,141. The investment was accounted for as an asset acquisition of defensive intangible assets and will be amortized over six years. On June 19, 2020, Gentherm sold patents from a non-core business for $2,055. The gain on sale of $1,978 was recorded in Other income in the consolidated statements of income. A total of $9,018, $8,821 and $9,226 in other intangible assets were amortized in 2022, 2021 and 2020, respectively. An estimate of other intangible asset amortization by year, is as follows:
2023 |  | $ | 8,294 |
2024 |  | $ | 7,297 |
2025 |  | $ | 7,284 |
2026 |  | $ | 7,284 |
2027 |  | $ | 7,284 |

X
- References No definition available. + Details
Name: | us-gaap_GoodwillAndIntangibleAssetsDisclosureAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- Definition The entire disclosure for goodwill and intangible assets. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 350 -URI https://asc.fasb.org/topic&trid=2144416 + Details
Name: | us-gaap_GoodwillAndIntangibleAssetsDisclosureTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration