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Investments | 9 Months Ended
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Sep. 30, 2021
Investments [Abstract] |
Investments | (15) Investments Minda Stoneridge Instruments Ltd. The Company has a 49% equity interest in Minda Stoneridge Instruments Ltd. (“MSIL”), a company based in India that manufactures electronics, instrumentation equipment and sensors primarily for the motorcycle, commercial vehicle and automotive markets. The investment is accounted for under the equity method of accounting. The Company’s investment in MSIL, recorded as a component of investments and other long-term assets, net on the condensed consolidated balance sheets, was $14,859 and $13,547 at September 30, 2021 and December 31, 2020, respectively. Equity in earnings of MSIL included in the condensed consolidated statements of operations was $408 and $330, for the three months ended September 30, 2021 and 2020, respectively. Equity in earnings of MSIL included in the condensed consolidated statements of operations was $1,320 and $556, for the nine months ended September 30, 2021 and 2020, respectively. PST Eletrônica Ltda. The Company had a 74% controlling interest in Stoneridge Brazil from December 31, 2011 through May 15, 2017. On May 16, 2017, the Company acquired the remaining 26% noncontrolling interest in Stoneridge Brazil. As part of the acquisition agreement, the Company will be required to pay additional earn-out consideration, which is not capped, based on Stoneridge Brazil’s financial performance in 2021. See Note 5 for the fair value and foreign currency adjustments of the earn-out consideration for the current and prior periods. Stoneridge Brazil had dividends payable to former noncontrolling interest holders of R$24,154 ($6,010) as of December 31, 2019. The dividend payable related to Stoneridge Brazil was recorded within other current liabilities on the consolidated balance sheet as of December 31, 2019. These dividends were paid in January 2020. Other Investments In December 2018, the Company entered into an agreement to make a $10,000 investment in a fund (“Autotech Fund II”) managed by Autotech Ventures (“Autotech”), a venture capital firm focused on ground transportation technology which is accounted for under the equity method of accounting. The Company’s $10,000 investment in the Autotech Fund II will be contributed over the expected ten-year life of the fund. The Company contributed $2,600 to and received $251 in distributions from the Autotech Fund II during the nine months ended September 30, 2021. The Company contributed $750 to the Autotech Fund II during the nine months ended September 30, 2020. The Company has a 6.6% interest in Autotech Fund II. The Company recognized earnings of $176 and $307 during the three months ended September 30, 2021 and 2020, respectively. The Company recognized earnings of $374 and $168 during the nine months ended September 30, 2021 and 2020, respectively. The Autotech Fund II investment recorded in investments and other long-term assets in the condensed consolidated balance sheets was $6,159 and $3,436 as of September 30, 2021 and December 31, 2020, respectively.

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- Definition The entire disclosure for equity method investments and joint ventures. Equity method investments are investments that give the investor the ability to exercise significant influence over the operating and financial policies of an investee. Joint ventures are entities owned and operated by a small group of businesses as a separate and specific business or project for the mutual benefit of the members of the group. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 323 -URI http://asc.fasb.org/topic&trid=2196965 + Details
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