XML 36 R13.htm IDEA: XBRL DOCUMENT v3.25.0.1
Investments
12 Months Ended
Dec. 31, 2024
Equity Method Investments and Joint Ventures [Abstract]  
Investments Investments
PST Eletrônica Ltda.
The Company had a 74% controlling interest in Stoneridge Brazil from December 31, 2011 through May 15, 2017. On May 16, 2017, the Company acquired the remaining 26% noncontrolling interest in Stoneridge Brazil. As part of the acquisition agreement, the Company was required to pay additional earn-out consideration based on Stoneridge Brazil’s financial performance in 2021. The final earn-out consideration of $8,272 was paid in the second quarter of 2022. See Note 10 for the fair value and foreign currency adjustments of the earn-out consideration for the current and prior periods.
Other Investments
In December 2018, the Company entered into an agreement to make a $10,000 investment in a fund (“Autotech Fund II”) managed by Autotech Ventures (“Autotech”), a venture capital firm focused on ground transportation technology which is accounted for under the equity method of accounting. The Company’s $10,000 investment in the Autotech Fund II will be contributed over the expected ten-year life of the fund. The Company has contributed $8,950 to the Autotech Fund II as of December 31, 2024. The Company contributed $550, $350 and $950 to the Autotech Fund II during the years ended December 31, 2024, 2023 and 2022, respectively. The Company has a 6.7% interest in Autotech Fund II. The Company recognized losses of $1,292, $522 and $823 during the years ended December 31, 2024, 2023 and 2022, respectively. The Autotech Fund II investment recorded in investments and other long-term assets, net in the consolidated balance sheets was $7,730 and $8,472 as of December 31, 2024 and 2023, respectively.