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Segment Reporting
 9 Months Ended
Sep. 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
September 30,		Nine Months Ended
September 30,
2023202220232022
Net Sales:
Control Devices$89,344 $88,901 $267,406 $257,527 
Inter-segment sales733 474 2,437 1,855 
Control Devices net sales90,077 89,375 269,843 259,382 
Electronics134,652 124,066 435,565 372,040 
Inter-segment sales8,649 5,948 25,656 21,027 
Electronics net sales143,301 130,014 461,221 393,067 
Stoneridge Brazil14,168 13,790 43,332 39,184 
Inter-segment sales— 22 — 22 
Stoneridge Brazil net sales14,168 13,812 43,332 39,206 
Eliminations(9,382)(6,444)(28,093)(22,904)
Total net sales$238,164 $226,757 $746,303 $668,751 
Operating Income (Loss):
Control Devices$5,488 $7,522 $12,649 $18,416 
Electronics7,647 5,416 16,491 180 
Stoneridge Brazil1,241 908 3,483 2,370 
Unallocated Corporate (A)
(7,864)(7,983)(25,809)(24,015)
Total operating income (loss)$6,512 $5,863 $6,814 $(3,049)
Depreciation and Amortization:
Control Devices$3,100 $3,325 $9,373 $10,291 
Electronics3,521 3,372 10,488 10,495 
Stoneridge Brazil1,259 968 3,545 2,991 
Unallocated Corporate593 589 1,800 1,717 
Total depreciation and amortization (B)
$8,473 $8,254 $25,206 $25,494 
Interest Expense (Income), net:
Control Devices$37 $30 $120 $73 
Electronics456 279 1,452 580 
Stoneridge Brazil(680)(298)(1,269)(989)
Unallocated Corporate3,500 1,834 8,876 5,184 
Total interest expense, net$3,313 $1,845 $9,179 $4,848 
Capital Expenditures:
Control Devices$2,986 $3,536 $6,961 $9,297 
Electronics4,710 2,293 13,251 7,052 
Stoneridge Brazil889 757 2,307 2,684 
Unallocated Corporate(C)
371 (52)700 649 
Total capital expenditures$8,956 $6,534 $23,219 $19,682 
September 30,
2023		December 31,
2022
Total Assets:
Control Devices$174,191 $174,535 
Electronics393,385 369,232 
Stoneridge Brazil65,430 60,861 
Corporate (C)
416,377 419,469 
Eliminations(370,609)(371,992)
Total assets$678,774 $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
September 30,		Nine months ended
September 30,
2023202220232022
Net Sales:
North America$126,499 $117,010 $385,813 $330,480 
South America14,168 13,790 43,332 39,184 
Europe and Other97,497 95,957 317,158 299,087 
Total net sales$238,164 $226,757 $746,303 $668,751 
September 30,
2023		December 31,
2022
Long-term Assets:
North America$91,019 $92,149 
South America32,688 31,796 
Europe and Other118,649 118,609 
Total long-term assets$242,356 $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.