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Revenue
 6 Months Ended
Jun. 30, 2025
Revenue from Contract with Customer [Abstract]  
Revenue from Contract with Customer [Text Block] Revenue
Revenue is recognized for manufactured parts at a point in time, generally when products are shipped or delivered. The Company usually enters into agreements with customers to produce products at the beginning of a vehicle’s life. Blanket purchase orders received from customers and related documents generally establish the annual terms, including pricing, related to a vehicle model. Customers typically pay for parts based on customary business practices with payment terms generally between 30 and 90 days.
The passenger and light duty customer group consists of sales to automotive OEMs and automotive suppliers, while the commercial customer group represents sales to OEMs of on- and off-highway commercial equipment and vehicles. The other customer group includes sales related to specialty and adjacent markets.
Revenue by customer group for the three months ended June 30, 2025 was as follows:
Sealing SystemsFluid Handling SystemsOtherConsolidated
Passenger and Light Duty$356,005 $317,755 $— $673,760 
Commercial7,794 2,317 2,063 12,174 
Other569 2,358 17,112 20,039 
Revenue$364,368 $322,430 $19,175 $705,973 
Revenue by customer group for the six months ended June 30, 2025 was as follows:
Sealing SystemsFluid Handling SystemsOtherConsolidated
Passenger and Light Duty$692,146 $617,600 $— $1,309,746 
Commercial15,567 4,364 3,882 23,813 
Other966 4,464 34,053 39,483 
Revenue$708,679 $626,428 $37,935 $1,373,042 
Revenue by customer group for the three months ended June 30, 2024 was as follows:
Sealing SystemsFluid Handling SystemsOtherConsolidated
Passenger and Light Duty$356,326 $315,871 $— $672,197 
Commercial7,986 2,925 2,319 13,230 
Other634 3,946 18,355 22,935 
Revenue$364,946 $322,742 $20,674 $708,362 
Revenue by customer group for the six months ended June 30, 2024 was as follows:
Sealing SystemsFluid Handling SystemsOtherConsolidated
Passenger and Light Duty$699,847 $615,051 $— $1,314,898 
Commercial15,351 5,851 4,218 25,420 
Other1,027 7,355 36,087 44,469 
Revenue$716,225 $628,257 $40,305 $1,384,787 
Substantially all of the Company’s revenue is generated from sealing systems and fluid handling systems (consisting of fuel and brake delivery systems and fluid transfer systems) for use in passenger vehicles and light trucks manufactured by global OEMs.
A summary of the Company’s products is as follows:
Product LineDescription
Sealing SystemsProtect vehicle interiors from weather, dust and noise intrusion for improved driving experience; provide aesthetic and functional class-A exterior surface treatment.
Fluid Handling SystemsFuel & Brake Delivery Systems - Sense, deliver and control fluid and fluid vapors for fuel and brake systems.

Fluid Transfer Systems - Sense, deliver, connect and control fluid delivery for optimal thermal management, powertrain & HVAC operation.
Revenue by geographical region for the three months ended June 30, 2025 was as follows:
Sealing SystemsFluid Handling SystemsOtherConsolidated
North America$153,387 $239,312 $— $392,699 
Europe121,126 34,238 — 155,364 
Asia Pacific67,823 40,510 — 108,333 
South America22,032 8,370 — 30,402 
Corporate, eliminations and other— — 19,175 19,175 
Revenue$364,368 $322,430 $19,175 $705,973 
Revenue by geographical region for the six months ended June 30, 2025 was as follows:
Sealing SystemsFluid Handling SystemsOtherConsolidated
North America$302,149 $465,648 $— $767,797 
Europe236,456 67,308 — 303,764 
Asia Pacific127,496 77,510 — 205,006 
South America42,578 15,962 — 58,540 
Corporate, eliminations and other— — 37,935 37,935 
Revenue$708,679 $626,428 $37,935 $1,373,042 
Revenue by geographical region for the three months ended June 30, 2024 was as follows:
Sealing SystemsFluid Handling SystemsOtherConsolidated
North America$158,020 $240,220 $— $398,240 
Europe123,095 31,475 — 154,570 
Asia Pacific60,923 42,160 — 103,083 
South America22,908 8,887 — 31,795 
Corporate, eliminations and other— — 20,674 20,674 
Revenue$364,946 $322,742 $20,674 $708,362 
Revenue by geographical region for the six months ended June 30, 2024 was as follows:
Sealing SystemsFluid Handling SystemsOtherConsolidated
North America$308,871 $465,588 $— $774,459 
Europe248,814 66,337 — 315,151 
Asia Pacific115,204 80,041 — 195,245 
South America43,336 16,291 — 59,627 
Corporate, eliminations and other— — 40,305 40,305 
Revenue$716,225 $628,257 $40,305 $1,384,787 
Contract Estimates
The amount of revenue recognized is usually based on the purchase order price and adjusted for variable consideration, including pricing concessions. The Company accrues for pricing concessions by reducing revenue as products are shipped or delivered. The accruals are based on historical experience, anticipated performance and management’s best judgment. The Company also generally has ongoing adjustments to customer pricing arrangements based on the content and cost of its products. Such pricing accruals are adjusted as they are settled with customers. Customer returns, which are infrequent, are usually related to quality or shipment issues and are recorded as a reduction of revenue. The Company generally does not recognize significant return obligations due to their infrequent nature.
Contract Balances
The Company’s contract assets consist of unbilled amounts associated with variable pricing arrangements in the Asia Pacific region. Once pricing is finalized, contract assets are transferred to accounts receivable. As a result, the timing of revenue recognition and billings, as well as changes in foreign exchange rates, will impact contract assets on an ongoing basis. Contract assets were not materially impacted by any other factors during the six months ended June 30, 2025.
The Company’s contract liabilities consist of advance payments received and due from customers. Net contract assets (liabilities) consisted of the following:
June 30, 2025December 31, 2024Change
Contract assets$756 $650 $106 
Contract liabilities(16)(14)(2)
Net contract assets$740 $636 $104 
Other
The Company, at times, enters into agreements that provide for lump sum payments to customers. These payment agreements are recorded as a reduction of revenue during the period in which the commitment is made, unless the payment is contractually recoverable. Amounts related to commitments of future payments to customers in the condensed consolidated balance sheets as of June 30, 2025 and December 31, 2024 were current liabilities of $7,682 and $9,918, respectively, and long-term liabilities of $1,664 and $1,597, respectively.
The Company provides assurance-type warranties to its customers. These warranties offer assurance that the related products will perform as intended and conform to agreed-upon specifications. Costs associated with these warranties are recognized in cost of products sold in the condensed consolidated statement of operations.