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Goodwill and Other Intangible Assets (Tables)
12 Months Ended
Dec. 31, 2024
Goodwill and Intangible Assets Disclosure [Abstract]  
Schedule of Carrying Value of Goodwill by Operating Segment
Changes in the carrying values of goodwill by reporting unit during the years ended December 31, 2024 and 2023 are as follows (in thousands):
 Vehicle
Control
Temperature
Control
Engineered
Solutions
Nissens AutomotiveTotal
Balance as of December 31, 2022:
Goodwill$129,008 $11,474 $30,093 $— $170,575 
Accumulated impairment losses(38,488)— — — (38,488)
90,520 11,474 30,093 — 132,087 
Activity in 2023
Step acquisition of Gwo Yng— 1,214 994 — 2,208 
Foreign currency translation286 42 106 — 434 
Balance as of December 31, 2023:    
Goodwill129,294 12,730 31,193 — 173,217 
Accumulated impairment losses(38,488)— — — (38,488)
 $90,806 $12,730 $31,193 $— $134,729 
Activity in 2024
Acquisition of Nissens Automotive— — — 112,194 112,194 
Foreign currency translation(384)(62)(144)(4,915)(5,505)
Balance as of December 31, 2024:
Goodwill$128,910 $12,668 $31,049 $107,279 $279,906 
Accumulated impairment losses(38,488)— — — (38,488)
$90,422 $12,668 $31,049 $107,279 $241,418 
Schedule of Acquired Identifiable Intangible Assets
Acquired identifiable intangible assets as of December 31, 2024 and 2023 consist of (in thousands):
December 31,
20242023
Customer relationships303,547 159,641 
Patents, developed technology and intellectual property14,123 14,123 
Trademarks and trade names82,220 8,880 
Non-compete agreements3,308 3,295 
Supply agreements800 800 
Leaseholds160 160 
Total acquired intangible assets$404,158 $186,899 
Less accumulated amortization(a)(106,304)(95,681)
Net acquired intangible assets$297,854 $91,218 
(a) Applies to all intangible assets, except for trademarks/trade names totaling $74.9 million, which have indefinite useful lives and, as such, are not being amortized.
Schedule of Estimated Amortization Expenses in Future Period Based on the Current Estimated Useful Lives
The following table summarizes the amortization expense on our intangible assets and the estimated amortization expenses in future periods based on the current estimated useful lives assigned to our intangible assets (in thousands):
Amortization Expense(a)
202517,500 
202617,500 
202717,500 
202817,500 
2029-2041153,000 
(a) Estimated amortization expenses based on the current estimated useful lives assigned to our intangible assets