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Segment Reporting
 6 Months Ended
Jun. 30, 2024
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 2023 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,
2024202320242023
Net Sales:
Control Devices$79,899 $92,120 $157,057 $178,062 
Inter-segment sales955 970 1,786 1,704 
Control Devices net sales80,854 93,090 158,843 179,766 
Electronics145,511 159,786 295,294 300,913 
Inter-segment sales7,967 8,491 14,308 17,007 
Electronics net sales153,478 168,277 309,602 317,920 
Stoneridge Brazil11,649 14,908 23,865 29,164 
Inter-segment sales199 — 199 — 
Stoneridge Brazil net sales11,848 14,908 24,064 29,164 
Eliminations(9,121)(9,461)(16,293)(18,711)
Total net sales$237,059 $266,814 $476,216 $508,139 
Operating Income (Loss):
Control Devices$3,725 $5,074 $5,889 $7,161 
Electronics9,831 7,444 16,920 8,844 
Stoneridge Brazil(41)899 163 2,242 
Unallocated Corporate (A)
(10,108)(9,086)(19,234)(17,945)
Total operating income$3,407 $4,331 $3,738 $302 
Depreciation and Amortization:
Control Devices$2,806 $3,099 $5,669 $6,273 
Electronics3,903 3,503 7,764 6,967 
Stoneridge Brazil1,221 1,201 2,497 2,286 
Unallocated Corporate620 605 1,204 1,207 
Total depreciation and amortization (B)
$8,550 $8,408 $17,134 $16,733 
Interest Expense (Income), net:
Control Devices$(19)$65 $(19)$83 
Electronics501 511 1,104 996 
Stoneridge Brazil(224)(319)(594)(589)
Unallocated Corporate3,543 2,863 6,944 5,376 
Total interest expense, net$3,801 $3,120 $7,435 $5,866 
Capital Expenditures:
Control Devices$1,587 $2,019 $3,104 $3,975 
Electronics2,977 2,334 4,354 8,541 
Stoneridge Brazil799 782 1,739 1,418 
Unallocated Corporate(C)
326 217 760 329 
Total capital expenditures$5,689 $5,352 $9,957 $14,263 
June 30,
2024		December 31,
2023
Total Assets:
Control Devices$156,173 $159,612 
Electronics400,787 404,994 
Stoneridge Brazil54,100 66,318 
Corporate (C)
455,731 419,469 
Eliminations(400,140)(370,493)
Total assets$666,651 $679,900 
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,
2024202320242023
Net Sales:
North America$121,515 $135,590 $239,630 $259,313 
South America11,649 14,908 23,865 29,164 
Europe and Other103,895 116,316 212,721 219,662 
Total net sales$237,059 $266,814 $476,216 $508,139 
June 30,
2024		December 31,
2023
Long-term Assets:
North America$97,959 $92,419 
South America28,704 32,679 
Europe and Other118,030 125,412 
Total long-term assets$244,693 $250,510 
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(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.