Financial Instruments and Fair Value Measurements (Tables)

12 Months Ended

Dec. 31, 2021

Financial Instruments and Fair Value Measurements [Abstract]

Notional Amounts and Fair Values of Derivative Instruments in the Consolidated Balance


					Prepaid expenses				Accrued expenses and
	Notional amounts ^(A)				and other current assets				other current liabilities
As of December 31,	2021		2020		2021		2020		2021		2020
Derivatives designated as hedging instruments:
Cash flow hedges:
Forward currency contracts	$	23,923	$	1,242	$	730	$	255	$	-	$	-
Interest rate swap	$	50,000	$	50,000	$	-	$	-	$	503	$	1,318
Net investment hedges:
Cross-currency swaps	$	50,000	$	-	$	1,450	$	-	$	-	$	-

(A)Notional amounts represent the gross contract of the derivatives outstanding in U.S. dollars.

Amounts Recorded for the Cash Flow Hedges in Other Comprehensive Income (Loss) in Shareholders' Equity and in Net Income


							Gain (loss) reclassified from
	Gain (loss) recorded in other						other comprehensive income
	comprehensive income (loss)						(loss) into net income (loss) ^(A)
	2021		2020			2019	2021		2020			2019
Derivatives designated as cash flow hedges:
Forward currency contracts	$	923	$	(1,244)	$	450	$	448	$	(1,499)	$	820
Interest rate swap	$	164	$	(1,751)	$	-	$	(651)	$	(433)	$	-
Derivatives designated as net investment hedges:
Cross-currency swaps	$	1,270	$	-		-	$	-	$	-	$	-

(A)

Gains (losses) reclassified from comprehensive loss into net income (loss) recognized in COGS in the Company’s consolidated statements of operations for the years ended December 31, 2021, 2020 and 2019 were $341, $(1,146) and $695, respectively. Gains (losses) reclassified from other comprehensive loss into net income (loss) recognized in D&D in the Company’s consolidated statements of operations were $0, $(29) and $125 for the years ended December 31, 2021, 2020 and 2019, respectively. Gains (losses) reclassified from other comprehensive loss into net income (loss) recognized in SG&A in the Company’s consolidated statements of operations were $107, $(324) and $0 for the years ended December 31, 2021, 2020 and 2019, respectively. Losses reclassified from other comprehensive loss into net income (loss) recognized in interest expense, net in the Company’s consolidated statements of operations were $(651) and $(433) for the years ended December 31, 2021, and 2020, respectively.

Schedule of Assets and Liabilities that are Measured at Fair Value on a Recurring Basis



December 31,			2021						2020
			Fair values estimated using
		Fair	Level 1		Level 2		Level 3			Fair
	value		inputs		inputs		inputs		value
Financial assets carried at fair value:
Forward currency contract	$	730	$	-	$	730	$	-	$	255
Cross-currency swaps		1,450		-		1,450		-		-
Total financial assets carried at fair value	$	2,180	$	-	$	2,180	$	-	$	255

Financial liabilities carried at fair value:
Interest rate swap		503		-		503		-		1,318
Earn-out consideration		7,351		-		-		7,351		5,813
Total financial liabilities carried at fair value	$	7,854	$	-	$	503	$	7,351	$	7,131

Summary of the Change in Fair Value of the Level 3 Financial Liabilities Related to Contingent Consideration


	Stoneridge Brazil
	2021		2020
Balance at January 1	$	5,813	$	12,011
Change in fair value		2,065		(3,196)
Foreign currency adjustments		(527)		(3,002)
Balance at December 31	$	7,351	$	5,813