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Summary of Significant Accounting Policies (Tables)

12 Months Ended

Dec. 31, 2020

Summary of Significant Accounting Policies

Schedule of Accounts Receivable and Concentration of Credit Risk

​

​	​	​	​	​	​	​	​	​	​
Year ended December 31		2020			2019			2018
Ford Motor Company	​	11	%	​	11	%	​	12	%
Volvo	​	8	%	​	8	%	​	8	%

Schedule of Inventory, Current

​

​	​	​	​	​	​	​
December 31		2020			2019
Raw materials	​	$	67,775	​	$	66,357
Work-in-progress	​	​	7,005	​	​	5,582
Finished goods	​	​	15,768	​	​	21,510
Total inventories, net	​	$	90,548	​	$	93,449

Property, Plant and Equipment

​

Property, plant and equipment are recorded at cost and consist of the following: ​	​	​	​	​	​	​
December 31		2020			2019
Land and land improvements	​	$	4,447	​	$	4,550
Buildings and improvements	​	​	39,784	​	​	39,263
Machinery and equipment	​	​	253,563	​	​	226,076
Office furniture and fixtures	​	​	9,993	​	​	9,708
Tooling	​	​	40,967	​	​	76,933
Information technology	​	​	28,491	​	​	32,410
Vehicles	​	​	654	​	​	614
Leasehold improvements	​	​	5,198	​	​	4,588
Construction in progress	​	​	19,744	​	​	17,312
Total property, plant, and equipment	​	​	402,841	​	​	411,454
Less: accumulated depreciation	​	​	(283,517)	​	​	(288,971)
Property, plant and equipment, net	​	$	119,324	​	$	122,483

Schedule of Property, Plant and Equipment Estimated Useful Lives

​

​	​	​	​
Buildings and improvements		​	10-40 years
Machinery and equipment	​	​	3-10 years
Office furniture and fixtures	​	​	3-10 years
Tooling	​	​	2-7 years
Information technology	​	​	3-7 years
Vehicles	​	​	3-7 years
Leasehold improvements	​	​	shorter of lease term or 3-10 years

Schedule of Goodwill

​

​	​	​	​
​		​
Balance at January 1, 2020	​	$	35,874
Currency translation	​	​	3,230
Balance at December 31, 2020	​	$	39,104

​

​	​	​	​
Balance at January 1, 2019	​	$	36,717
Currency translation	​	​	(843)
Balance at December 31, 2019	​	$	35,874

Schedule of Acquired Finite-Lived Intangible Assets by Major Class

​

​	​	​	​	​	​	​	​	​	​
​	​	Acquisition		​	Accumulated		​	​	​
As of December 31, 2020		cost			amortization			Net
Customer lists	​	$	48,339	​	$	(18,530)	​	$	29,809
Tradenames	​	​	17,201	​	​	(6,290)	​	​	10,911
Technology	​	​	13,799	​	​	(8,079)	​	​	5,720
Capitalized software development	​	​	8,954	​	​	-	​	​	8,954
Total	​	$	88,293	​	$	(32,899)	​	$	55,394

​

​	​	​	​	​	​	​	​	​	​
​	​	Acquisition		​	Accumulated		​	​	​
As of December 31, 2019		cost			amortization			Net
Customer lists	​	$	50,750	​	$	(17,466)	​	$	33,284
Tradenames	​	​	20,041	​	​	(6,687)	​	​	13,354
Technology	​	​	15,231	​	​	(7,353)	​	​	7,878
Capitalized software development	​	​	3,606	​	​	-	​	​	3,606
Total	​	$	89,628	​	$	(31,506)	​	$	58,122

Accrued Expenses and Other Current Liabilities

​

​	​	​	​	​	​	​
As of December 31		2020			2019
Compensation related liabilities	​	$	21,852	​	$	19,566
Product warranty and recall obligations	​	​	9,044	​	​	7,685
Other (A)	​	​	21,376	​	​	27,972
Total accrued expenses and other current liabilities	​	$	52,272	​	$	55,223

(A) “Other” is comprised of miscellaneous accruals, none of which individually contributed a significant portion of the total.

Schedule of Product Warranty and Recall Liability

​

​	​	​	​	​	​	​
Year ended December 31		2020			2019
Product warranty and recall at beginning of period	​	$	10,796	​	$	10,494
Accruals for warranties established during period	​	​	5,898	​	​	7,131
Aggregate changes in pre-existing liabilities due to claim developments	​	​	1,794	​	​	1,037
Settlements made during the period	​	​	(6,297)	​	​	(7,600)
Foreign currency translation	​	​	500	​	​	(266)
Product warranty and recall at end of period	​	$	12,691	​	$	10,796

Schedule of Weighted-Average Number of Shares

​

​	​	​	​	​	​	​
​	​	2020		2019		2018
Basic weighted-average Common Shares outstanding	​	27,024,571	​	27,791,799	​	28,402,227
Effect of dilutive shares	​	-	​	478,296	​	677,599
Diluted weighted-average Common Shares outstanding	​	27,024,571	​	28,270,095	​	29,079,826

Schedule of Changes in Accumulated Other Comprehensive Loss by Component

​

​	​	​	​	​	​	​	​	​	​
​	​	Foreign		​	Unrealized		​	​	​
​	​	currency		​	gain (loss)		​	​	​
​		translation			on derivatives			Total
Balance at January 1, 2020	​	$	(91,472)	​	$	-	​	$	(91,472)
Other comprehensive income (loss) before reclassifications	​	​	2,677	​	​	(2,366)	​	​	311
Amounts reclassified from accumulated other comprehensive loss	​	​	-	​	​	1,526	​	​	1,526
Net other comprehensive income (loss), net of tax	​	​	2,677	​	​	(840)	​	​	1,837
Balance at December 31, 2020	​	$	(88,795)	​	$	(840)	​	$	(89,635)
​	​	​	​	​	​	​	​	​	​
Balance at January 1, 2019	​	$	(86,044)	​	$	292	​	$	(85,752)
Other comprehensive (loss) income before reclassifications	​	​	(5,428)	​	​	355	​	​	(5,073)
Amounts reclassified from accumulated other comprehensive loss	​	​	-	​	​	(647)	​	​	(647)
Net other comprehensive loss, net of tax	​	​	(5,428)	​	​	(292)	​	​	(5,720)
Balance at December 31, 2019	​	$	(91,472)	​	$	-	​	$	(91,472)

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