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Segment Reporting
 3 Months Ended
Mar. 31, 2025
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 ("CODM") in deciding how to allocate resources and in assessing performance. The Company’s CODM 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 advanced driver information solutions, vision systems, connectivity and compliance solutions and control modules. The Stoneridge Brazil reportable segment designs and manufactures vehicle tracking devices and monitoring services, driver information systems, vehicle security alarms and convenience accessories telematics solutions and multimedia devices.
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 2024 Form 10-K. The Company’s management evaluates the performance of its reportable segments based primarily on revenues from external customers, operating income and capital expenditures. Inter-segment sales are accounted for on terms similar to those to third parties and are eliminated upon consolidation.
The Company's management, including the CODM, utilizes operating income as the key performance measure of segment
profitability to evaluate segment performance, and for planning and forecasting purposes to allocate resources to the
segments, as management believes this measure is most reflective of the financial performance of the Company's operating
segments. The CODM regularly evaluates budget-to-actual and period-over-period variances for this metric when making
decisions about the allocation of operating and capital resources to each segment. The CODM also uses operating income
in evaluating the operating performance of each segment and as part of determining the compensation of the segment
managers and certain other employees. COGS and D&D are the significant expenses regularly reviewed by the CODM.
Other segment costs primarily include SG&A items.
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. Unallocated 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
March 31,
20252024
Net Sales:
Control Devices$68,833 $77,158 
Inter-segment sales1,022 831 
Control Devices net sales69,855 77,989 
Electronics134,783 149,783 
Inter-segment sales5,751 6,341 
Electronics net sales140,534 156,124 
Stoneridge Brazil14,274 12,216 
Inter-segment sales135 — 
Stoneridge Brazil net sales14,409 12,216 
Eliminations(6,908)(7,172)
Total net sales$217,890 $239,157 
Cost of Goods Sold:
Control Devices$57,786 $64,010 
Electronics104,527 119,143 
Stoneridge Brazil9,169 7,494 
Unallocated Corporate (A)
111 153 
Total cost of goods sold$171,593 $190,800 
Design and Development:
Control Devices$4,134 $5,108 
Electronics12,001 10,738 
Stoneridge Brazil782 772 
Unallocated Corporate (A)
909 985 
Total design and development$17,826 $17,603 
Other Segment Costs:
Control Devices$5,746 $5,875 
Electronics12,751 12,814 
Stoneridge Brazil3,738 3,746 
Unallocated Corporate (A)
9,461 7,988 
Total other segment costs$31,696 $30,423 
Operating (Loss) Income:
Control Devices$1,165 $2,164 
Electronics5,505 7,089 
Stoneridge Brazil585 204 
Unallocated Corporate (A)
(10,480)(9,126)
Total operating (loss) income$(3,225)$331 
Depreciation and Amortization:
Control Devices$2,326 $2,863 
Electronics3,540 3,861 
Stoneridge Brazil1,093 1,276 
Unallocated Corporate313 584 
Total depreciation and amortization (B)
$7,272 $8,584 
Interest Expense (Income), net:
Control Devices$(75)$— 
Electronics255 603 
Stoneridge Brazil(149)(370)
Unallocated Corporate3,136 3,401 
Total interest expense, net$3,167 $3,634 
Capital Expenditures:
Control Devices$1,063 $1,517 
Electronics3,880 1,377 
Stoneridge Brazil298 940 
Corporate (C)
160 434 
Total capital expenditures$5,401 $4,268 
March 31,
2025		December 31,
2024
Total Assets:
Control Devices$145,978 $136,028 
Electronics400,316 365,226 
Stoneridge Brazil54,307 48,280 
Corporate (C)
458,013 471,793 
Eliminations(401,255)(399,771)
Total assets$657,359 $621,556 
The following tables present net sales and long-term assets for each of the geographic areas in which the Company operates:
Three months ended March 3120252024
Net Sales:
United States$101,091 $118,116 
North America$101,091 $118,116 
Brazil14,274 12,216 
South America$14,274 $12,216 
Sweden38,048 44,107 
Estonia30,198 28,448 
Netherlands21,789 20,931 
Other Europe1,008 2,888 
China11,482 12,451 
Europe and Other$102,525 $108,825 
Total net sales$217,890 $239,157 
March 31,
2025		December 31,
2024
Long-term Assets:
United States$88,320 $90,111 
Mexico6,974 5,254 
North America$95,294 $95,365 
Brazil26,353 25,222 
South America$26,353 $25,222 
Sweden36,224 32,918 
Estonia8,302 8,363 
Netherlands59,206 57,677 
Other Europe623 653 
China13,336 13,844 
Europe and Other$117,691 $113,455 
Total long-term assets$239,338 $234,042 
__________________________________________________________
(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.