XML 72 R23.htm IDEA: XBRL DOCUMENT
v2.4.0.8

Summary of Significant Accounting Policies (Tables) | 12 Months Ended
--- | ---
Dec. 31, 2013
Summary of Significant Accounting Policies [Abstract] |
Schedule of Accounts Receivable and Concentration of Credit Risk | The Company’s largest customers were Deere & Company (“Deere”) and Navistar International Corporation (“Navistar”), primarily related to the Wiring reportable segment, and accounted for the following percentages of consolidated net sales for the years ended December 31, 2013, 2012 and 2011:
|  | 2013 |  | 2012 |  | 2011
Deere |  | 14 | % |  | 13 | % |  | 15 | %
Navistar |  | 13 | % |  | 18 | % |  | 24 | %
Schedule of Inventory, Current | Inventories consist of the following:
As of December 31 |  |  | 2013 |  | 2012
Raw materials |  | $ | 71,631 | $ | 64,340
Work-in-progress |  |  | 16,168 |  | 13,621
Finished goods |  |  | 26,259 |  | 18,071
Total inventories, net |  | $ | 114,058 | $ | 96,032
Property, Plant and Equipment | Property, plant and equipment are recorded at cost and consist of the following:
As of December 31 |  |  | 2013 |  | 2012
Land and land improvements |  | $ | 4,861 | $ | 5,117
Buildings and improvements |  |  | 43,630 |  | 45,940
Machinery and equipment |  |  | 208,243 |  | 196,003
Office furniture and fixtures |  |  | 8,351 |  | 8,856
Tooling |  |  | 70,050 |  | 71,045
Information technology |  |  | 33,759 |  | 33,009
Vehicles |  |  | 426 |  | 1,456
Leasehold improvements |  |  | 3,447 |  | 3,560
Construction in progress |  |  | 14,336 |  | 17,656
Total property, plant, and equipment |  |  | 387,103 |  | 382,642
Less: accumulated depreciation |  |  | (276,231) |  | (263,495)
Property, plant and equipment, net |  | $ | 110,872 | $ | 119,147
Schedule of property, plant and equipment estimated useful lives | Depreciable lives within each property classification are as follows:
Buildings and improvements |  |  | 10-40 years
Machinery and equipment |  |  | 3-10 years
Office furniture and fixtures |  |  | 3-10 years
Tooling |  |  | 2-5 years
Information technology |  |  | 3-5 years
Vehicles |  |  | 3-5 years
Leasehold improvements | shorter of lease term or 3-10 years
Schedule of Business Combination Consideration Transferred | The acquisition date fair value of the total consideration transferred consisted of the following:
Cash | $ | 29,669
Common Shares (1,940,413 shares) |  | 15,310
Fair value of consideration transferred |  | 44,979
Fair value of the Company's previously held equity interest |  | 104,118
Fair value of noncontrolling interest |  | 48,727
Total fair value of PST | $ | 197,824
Business Acquisition, Pro Forma Information | The following unaudited pr o forma information reflects the Company’s consolidated results of operations as if the acquisition had occurred on January 1, 201 1. The unaudited pro forma information is not necessarily indicative of t he results of operations that the Company would have reported had the transaction actually occurred at the beginning this period, nor is it necessarily indicative of future results.
Years ended December 31 |  | 2011
Net sales |  | $ 999,553
Net income attributable to Stoneridge, Inc. |  | $ 10,608
Schedule of Goodwill | Goodwill as of December 31, 2013 and 2012, and changes in the carrying amount of goodwill by segment were as follows:
|  |  |  |  |  | Control |  |  |  |
|  | Electronics |  | Wiring |  | Devices |  | PST |  | Total
Balance at January 1, 2012 | $ | 564 | $ | 4,173 | $ | - | $ | 67,118 | $ | 71,855
Currency translation |  | 34 |  | - |  | - |  | (5,508) |  | (5,474)
Balance at December 31, 2012 |  | 598 |  | 4,173 |  | - |  | 61,610 |  | 66,381
Currency translation |  | 6 |  | - |  | - |  | (7,866) |  | (7,860)
Balance at December 31, 2013 | $ | 604 | $ | 4,173 | $ | - | $ | 53,744 | $ | 58,521
Schedule of Acquired Finite-Lived Intangible Assets by Major Class | Intangible assets, net at December 31, 2013 and 2012 consisted of the following:
|  | Acquisition |  | Accumulated |  |
As of December 31, 2013 |  | cost |  | amortization |  | Net
Customer lists | $ | 38,451 | $ | (5,402) | $ | 33,049
Trademarks |  | 25,572 |  | (2,943) |  | 22,629
Technology |  | 15,111 |  | (1,947) |  | 13,164
Other |  | 57 |  | (57) |  | -
Total | $ | 79,191 | $ | (10,349) | $ | 68,842
|  | Acquisition |  | Accumulated |  |
As of December 31, 2012 |  | cost |  | amortization |  | Net
Customer lists | $ | 43,973 | $ | (3,166) | $ | 40,807
Trademarks |  | 29,252 |  | (1,870) |  | 27,382
Technology |  | 17,323 |  | (1,115) |  | 16,208
Other |  | 66 |  | (66) |  | -
Total | $ | 90,614 | $ | (6,217) | $ | 84,397
Accrued Expenses and Other Current Liabilities | Accrued expenses and other current liabilities consist of the following:
As of December 31 |  | 2013 |  | 2012
Compensation related liabilities | $ | 24,631 | $ | 22,620
Product warranty and recall obligations |  | 5,462 |  | 5,613
Other (A) |  | 26,558 |  | 28,848
Total accrued expenses and other current liabilities | $ | 56,651 | $ | 57,081
(A)“Other” is comprised of miscellaneous accruals, none of which contributed a significant portion of the total.
Schedule of Product Warranty Liability | The following provides a reconciliation of changes in the product warranty and recall reserve:
Years ended December 31 |  | 2013 |  | 2012
Product warranty and recall at beginning of period | $ | 6,107 | $ | 5,301
Accruals for products shipped during period |  | 4,793 |  | 3,288
Aggregate changes in pre-existing liabilities due to claim developments |  | 1,715 |  | 1,062
Settlements made during the period (in cash or in kind) |  | (6,134) |  | (3,544)
Product warranty and recall at end of period | $ | 6,481 | $ | 6,107
Schedule of Weighted Average Number of Shares | Actual weighted-average Common Shares outstanding used in calculating basic and diluted net income per share were as follows:
Years ended December 31 |  | 2013 |  | 2012 |  | 2011
Basic weighted-average shares outstanding |  | 26,670,501 |  | 26,377,352 |  | 24,180,671
Effect of dilutive securities |  | 522,984 |  | 654,518 |  | 464,258
Diluted weighted-average shares outstanding |  | 27,193,485 |  | 27,031,870 |  | 24,644,929
Changes in Accumulated Other Comprehensive Loss by Componen | Changes in Accumulated Other Comprehensive Loss by Component Changes in accumulated other comprehensive loss for the years ended December 31, 2013 and 2012 were as follows:
|  | Foreign |  |  |  | Benefit |  |
|  | currency |  |  |  | plan |  |
|  | translation |  | Derivatives |  | liability |  | Total
Balance at January 1, 2013 | $ | (12,410) | $ | 2,140 | $ | (12) | $ | (10,282)
Other comprehensive loss before reclassifications |  | (17,925) |  | (325) |  | - |  | (18,250)
Amounts reclassified from accumulated other |  |  |  |  |  |  |  |
comprehensive loss |  | - |  | (1,926) |  | - |  | (1,926)
Net other comprehensive loss, net of tax |  | (17,925) |  | (2,251) |  | - |  | (20,176)
Balance at December 31, 2013 | $ | (30,335) | $ | (111) | $ | (12) | $ | (30,458)
Balance at January 1, 2012 | $ | (1,908) | $ | (7,722) | $ | 15 | $ | (9,615)
Other comprehensive income (loss) before reclassifications |  | (10,502) |  | 7,106 |  | - |  | (3,396)
Amounts reclassified from accumulated other |  |  |  |  |  |  |  |
comprehensive loss |  | - |  | 2,756 |  | (27) |  | 2,729
Net other comprehensive income (loss), net of tax |  | (10,502) |  | 9,862 |  | (27) |  | (667)
Balance at December 31, 2012 | $ | (12,410) | $ | 2,140 | $ | (12) | $ | (10,282)

X
- Definition The tabular disclosure of components of accrued liabilities and other current liabilities. + References No definition available. + Details
Name: | sri_AccruedExpensesAndOtherCurrentLiabilitiesTableTextBlock
Namespace Prefix: | sri_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition The disclosure of accounts receivable and concentration of credit risk. + References No definition available. + Details
Name: | sri_ScheduleOfAccountsReceivableAndConcentrationOfCreditRiskTableTextBlock
Namespace Prefix: | sri_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of business combination, consideration transferred, including equity interest in acquire held prior to combination. + References No definition available. + Details
Name: | sri_ScheduleOfBusinessCombinationConsiderationTransferredTableTextBlock
Namespace Prefix: | sri_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Schedule of property, plant and equipment estimated useful lives [Test Block] + References No definition available. + Details
Name: | sri_ScheduleOfPropertyPlantAndEquipmentEstimatedUsefulLivesTestBlock
Namespace Prefix: | sri_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Details
Name: | us-gaap_AccountingPoliciesAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of pro forma results of operations for a material business acquisition or series of individually immaterial business acquisitions that are material in the aggregate. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 805 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (h)(2)-(3) -URI http://asc.fasb.org/extlink&oid=25497992&loc=d3e1392-128463 + Details
Name: | us-gaap_BusinessAcquisitionProFormaInformationTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of physical assets used in the normal conduct of business and not intended for resale. Includes, but is not limited to, balances by class of assets, depreciation and depletion expense and method used, including composite depreciation, and accumulated deprecation. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 360 -SubTopic 10 -Section 50 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=6391035&loc=d3e2868-110229 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 210 -SubTopic 10 -Section S99 -Paragraph 1 -Subparagraph (SX 210.5-02.13) -URI http://asc.fasb.org/extlink&oid=6877327&loc=d3e13212-122682 Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher SEC -Name Regulation S-X (SX) -Number 210 -Section 02 -Paragraph 13 -Subparagraph b -Article 5 + Details
Name: | us-gaap_PropertyPlantAndEquipmentTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of the components of accumulated other comprehensive income (loss). + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 220 -SubTopic 10 -Section 45 -Paragraph 14A -URI http://asc.fasb.org/extlink&oid=28358780&loc=SL7669686-108580 + Details
Name: | us-gaap_ScheduleOfAccumulatedOtherComprehensiveIncomeLossTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of the characteristics, including initial carrying value, residual amount, weighted average useful life, of finite-lived intangible assets acquired during the period by major class. A major class is composed of intangible assets that can be grouped together because they are similar, either by nature or by their use in the operations of the company. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 350 -SubTopic 30 -Section 50 -Paragraph 1 -Subparagraph (a) -URI http://asc.fasb.org/extlink&oid=26713463&loc=d3e16265-109275 + Details
Name: | us-gaap_ScheduleOfAcquiredFiniteLivedIntangibleAssetsByMajorClassTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of goodwill by reportable segment and in total which includes a rollforward schedule. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 350 -SubTopic 20 -Section 50 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=14024403&loc=d3e13816-109267 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 350 -SubTopic 20 -Section 50 -Paragraph 2 -URI http://asc.fasb.org/extlink&oid=14024403&loc=d3e13854-109267 + Details
Name: | us-gaap_ScheduleOfGoodwillTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of the carrying amount as of the balance sheet date of merchandise, goods, commodities, or supplies held for future sale or to be used in manufacturing, servicing or production process. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher SEC -Name Regulation S-X (SX) -Number 210 -Section 2 -Paragraph 6 -Subparagraph a,b,c -Article 5 + Details
Name: | us-gaap_ScheduleOfInventoryCurrentTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of the changes in the guarantor's aggregate product warranty liability, including the beginning balance of the aggregate product warranty liability, the aggregate reductions in that liability for payments made (in cash or in kind) under the warranty, the aggregate changes in the liability for accruals related to product warranties issued during the reporting period, the aggregate changes in the liability for accruals related to preexisting warranties (including adjustments related to changes in estimates), and the ending balance of the aggregate product warranty liability. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 460 -SubTopic 10 -Section 50 -Paragraph 8 -URI http://asc.fasb.org/extlink&oid=6398077&loc=d3e12565-110249 + Details
Name: | us-gaap_ScheduleOfProductWarrantyLiabilityTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of the weighted average number of shares used in calculating basic net earnings per share (or unit) and diluted earnings per share (or unit). + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 260 -SubTopic 10 -Section 50 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=6371337&loc=d3e3550-109257 + Details
Name: | us-gaap_ScheduleOfWeightedAverageNumberOfSharesTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration