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Segment Reporting
 6 Months Ended
Jun. 30, 2023
Segment Reporting [Abstract]  
Segment Reporting Segment Reporting
Operating segments are defined as components of an enterprise that are evaluated regularly by the Company’s chief operating decision maker in deciding how to allocate resources and in assessing performance. The Company’s chief operating decision maker is the Chief Executive Officer.
The Company has three reportable segments, Control Devices, Electronics and Stoneridge Brazil, which also represent its operating segments. The Control Devices reportable segment produces actuators, sensors, switches and connectors. The Electronics reportable segment produces driver information systems, vision and safety systems, connectivity and compliance products and electronic control units. The Stoneridge Brazil reportable segment designs and manufactures vehicle tracking devices and monitoring services, vehicle security alarms and convenience accessories, in-vehicle audio and infotainment devices, driver information systems and telematics solutions.
The accounting policies of the Company’s reportable segments are the same as those described in Note 2, “Summary of Significant Accounting Policies” of the Company’s 2022 Form 10-K. The Company’s management evaluates the performance of its reportable segments based primarily on revenues from external customers, capital expenditures and operating income. Inter-segment sales are accounted for on terms similar to those to third parties and are eliminated upon consolidation.
The financial information presented below is for our three reportable operating segments and includes adjustments for unallocated corporate costs and intercompany eliminations, where applicable. Such costs and eliminations do not meet the requirements for being classified as an operating segment. Corporate costs include various support functions, such as accounting/finance, executive administration, human resources, information technology and legal.
A summary of financial information by reportable segment is as follows:
Three months ended
June 30,		Six months ended
June 30,
2023202220232022
Net Sales:
Control Devices$92,120 $84,566 $178,062 $168,626 
Inter-segment sales970 451 1,704 1,381 
Control Devices net sales93,090 85,017 179,766 170,007 
Electronics159,786 123,021 300,913 247,974 
Inter-segment sales8,491 7,368 17,007 15,079 
Electronics net sales168,277 130,389 317,920 263,053 
Stoneridge Brazil14,908 13,349 29,164 25,394 
Inter-segment sales— — — — 
Stoneridge Brazil net sales14,908 13,349 29,164 25,394 
Eliminations(9,461)(7,819)(18,711)(16,460)
Total net sales$266,814 $220,936 $508,139 $441,994 
Operating Income (Loss):
Control Devices$5,074 $4,118 $7,161 $10,894 
Electronics7,444 (2,524)8,844 (5,236)
Stoneridge Brazil899 970 2,242 1,462 
Unallocated Corporate (A)
(9,086)(8,492)(17,945)(16,032)
Total operating income (loss)$4,331 $(5,928)$302 $(8,912)
Depreciation and Amortization:
Control Devices$3,099 $3,405 $6,273 $6,966 
Electronics3,503 3,530 6,967 7,123 
Stoneridge Brazil1,201 1,032 2,286 2,023 
Unallocated Corporate605 567 1,207 1,128 
Total depreciation and amortization (B)
$8,408 $8,534 $16,733 $17,240 
Interest Expense (Income), net:
Control Devices$65 $18 $83 $43 
Electronics511 228 996 301 
Stoneridge Brazil(319)(533)(589)(691)
Unallocated Corporate2,863 1,504 5,376 3,350 
Total interest expense, net$3,120 $1,217 $5,866 $3,003 
Capital Expenditures:
Control Devices$2,019 $1,916 $3,975 $5,761 
Electronics2,334 1,926 8,541 4,759 
Stoneridge Brazil782 1,258 1,418 1,927 
Unallocated Corporate(C)
217 680 329 701 
Total capital expenditures$5,352 $5,780 $14,263 $13,148 
June 30,
2023		December 31,
2022
Total Assets:
Control Devices$173,580 $174,535 
Electronics396,649 369,232 
Stoneridge Brazil67,173 60,861 
Corporate (C)
418,852 419,469 
Eliminations(370,757)(371,992)
Total assets$685,497 $652,105 
The following tables present net sales and long-term assets for each of the geographic areas in which the Company operates:
Three months ended
June 30,		Six months ended
June 30,
2023202220232022
Net Sales:
North America$135,590 $109,642 $259,313 $213,470 
South America14,908 13,349 29,164 25,394 
Europe and Other116,316 97,945 219,662 203,130 
Total net sales$266,814 $220,936 $508,139 $441,994 
June 30,
2023		December 31,
2022
Long-term Assets:
North America$92,604 $92,149 
South America33,850 31,796 
Europe and Other120,460 118,609 
Total long-term assets$246,914 $242,554 
__________________________________________________________
(A)Unallocated Corporate expenses include, among other items, accounting/finance, human resources, information technology and legal costs as well as share-based compensation.
(B)These amounts represent depreciation and amortization on property, plant and equipment and certain intangible assets.
(C)Assets located at Corporate consist primarily of cash, intercompany loan receivables, fixed assets for the corporate headquarter building, leased assets, information technology assets, equity investments and investments in subsidiaries.