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Summary of Significant Accounting Policies (Tables)
12 Months Ended
Dec. 31, 2024
Accounting Policies [Abstract]  
Summary of Percentage of Product Revenues and Accounts Receivable

The following is a summary of the percentage of product revenues and accounts receivable from the Company's customers with a percentage of net sales greater than 10 percent:
 

 

 

Percentage of Total Product Revenues

 

 

Percentage of Total Net Accounts Receivable

 

 

 

Year Ended December 31,

 

 

Year Ended December 31,

 

 

 

2024

 

 

2023

 

 

2022

 

 

2024

 

 

2023

 

Lear

 

 

16

%

 

 

15

%

 

 

16

%

 

 

16

%

 

 

17

%

Adient

 

 

11

%

 

 

13

%

 

 

15

%

 

 

11

%

 

 

19

%

Estimated Useful Lives of Property and Equipment Depreciation is computed using the straight-line method. The estimated useful lives of the Company’s property and equipment are as follows:

Asset Category

 

Useful Life

Buildings and improvements

 

1 to 30 years

Plant and equipment

 

10 years

Production tooling

 

2 to 10 years

Leasehold improvements

 

Term of lease

Information technology

 

1 to 5 years

Fair Value and Corresponding Useful Lives for Acquired Intangibles Assets

Amortization of other intangible assets is computed using the straight-line method. The fair value and corresponding useful lives for acquired intangible assets are listed below as follows:

Asset Category

 

Useful Life

Customer relationships

 

8 to 15 years

Technology

 

5 to 12 years

Product development costs

 

5 to 10 years

Trade names

 

Indefinite

Software development costs

 

4 to 5 years