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Financial Instruments and Fair Value Measurements (Tables)

12 Months Ended

Dec. 31, 2022

Fair Value Disclosures [Abstract]

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

The notional amounts and fair values of derivative instruments in the consolidated balance sheets were as follows:

						Notional amounts (A)												Prepaid expenses and other current assets												Accrued expenses and other current liabilities
As of December 31,						2022						2021						2022						2021						2022						2021
Derivatives designated as hedging instruments:
Cash flow hedges:
Forward currency contracts						$	—					$	23,923					$	—					$	730					$	—					$	—
Interest rate swap						$	50,000					$	50,000					$	294					$	—					$	—					$	503
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

Gross amounts recorded for the cash flow hedges in other comprehensive (loss) income and in net (loss) income for the years ended December 31 were as follows:

						Gain (loss) recorded in other comprehensive (loss) income																		Gain (loss) reclassified from other comprehensive (loss) income into net (loss) income (A)
						2022						2021						2020						2022						2021						2020
Derivatives designated as cash flow hedges:
Forward currency contracts						$	1,346					$	923					$	(1,244)					$	2,076					$	448					$	(1,499)
Interest rate swap						$	953					$	164					$	(1,751)					$	156					$	(651)					$	(433)
Derivatives designated as net investment hedges:
Cross-currency swaps						$	2,446					$	1,270					—						$	—					$	—					$	—

_____________________________

(A)Gains (losses) reclassified from comprehensive loss into net (loss) income recognized in COGS in the Company’s consolidated statements of operations for the years ended December 31, 2022, 2021 and 2020 were $1,572, $341 and $(1,146), respectively. Gains (losses) reclassified from other comprehensive loss into net (loss) income recognized in D&D in the Company’s consolidated statements of operations were $0, $0 and $(29) for the years ended December 31, 2022, 2021 and 2020, respectively. Gains (losses) reclassified from other comprehensive loss into net (loss) income recognized in SG&A in the Company’s consolidated statements of operations were $504, $107 and $(324) for the years ended December 31, 2022, 2021 and 2020, respectively. Gains (losses)

reclassified from other comprehensive loss into net (loss) income recognized in interest expense, net in the Company’s consolidated statements of operations were $156, $(651) and $(433) for the years ended December 31, 2022, 2021 and 2020, respectively.

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

The following table presents our assets and liabilities that are measured at fair value on a recurring basis and are categorized using the three levels of the fair value hierarchy based on the reliability of inputs used.

December 31,									2022																		2021
									Fair values estimated using
			Fair value						Level 1 inputs						Level 2 inputs						Level 3 inputs						Fair value
Financial assets carried at fair value:
Forward currency contract			$	—					$	—					$	—					$	—					$	730
Cross-currency swaps			—						—						—						—						1,450
Interest rate swap			294						—						294						—						—
Total financial assets carried at fair value			$	294					$	—					$	294					$	—					$	2,180
Financial liabilities carried at fair value:
Interest rate swap			$	—					$	—					$	—					$	—					$	503
Earn-out consideration			—						—						—						—						7,351
Total financial liabilities carried at fair value			$	—					$	—					$	—					$	—					$	7,854

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

The following table sets forth a summary of the change in fair value of the Company’s Level 3 financial liabilities related to earn-out consideration that are measured at fair value on a recurring basis.

			Stoneridge Brazil
			2022						2021
Balance at January 1			$	7,351					$	5,813
Change in fair value			—						2,065
Foreign currency adjustments			921						(527)
Earn-out consideration cash payment			(8,272)						—
Balance at December 31			$	—					$	7,351

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Tabular disclosure of the fair value measurement of liabilities using significant unobservable inputs (Level 3), a reconciliation of the beginning and ending balances, separately presenting changes attributable to the following: (1) total gains or losses for the period (realized and unrealized), segregating those gains or losses included in earnings (or changes in net assets), and gains or losses recognized in other comprehensive income (loss) and a description of where those gains or losses included in earnings (or changes in net assets) are reported in the statement of income (or activities); (2) purchases, sales, issues, and settlements (each type disclosed separately); and (3) transfers in and transfers out of Level 3 (for example, transfers due to changes in the observability of significant inputs) by class of liability.

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Tabular disclosure of gain (loss) on derivative and nonderivative instruments designated and qualifying as cash flow hedge recorded in accumulated other comprehensive income (AOCI) and reclassified into earnings.

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Tabular disclosure of the location and fair value amounts of derivative instruments (and nonderivative instruments that are designated and qualify as hedging instruments) reported in the statement of financial position.

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Tabular disclosure of assets and liabilities, including [financial] instruments measured at fair value that are classified in stockholders' equity, if any, that are measured at fair value on a recurring basis. The disclosures contemplated herein include the fair value measurements at the reporting date by the level within the fair value hierarchy in which the fair value measurements in their entirety fall, segregating fair value measurements using quoted prices in active markets for identical assets (Level 1), significant other observable inputs (Level 2), and significant unobservable inputs (Level 3).

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