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Segment Reporting
 6 Months Ended
Jun. 30, 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 as well as share-based compensation.
A summary of financial information by reportable segment is as follows:
Three months ended
June 30,		Six months ended
June 30,
2025202420252024
Net Sales:
Control Devices$70,411 $79,899 $139,244 $157,057 
Inter-segment sales745 955 1,767 1,786 
Control Devices net sales71,156 80,854 141,011 158,843 
Electronics142,681 145,511 277,464 295,294 
Inter-segment sales6,870 7,967 12,621 14,308 
Electronics net sales149,551 153,478 290,085 309,602 
Stoneridge Brazil14,860 11,649 29,134 23,865 
Inter-segment sales412 199 547 199 
Stoneridge Brazil net sales15,272 11,848 29,681 24,064 
Eliminations(8,027)(9,121)(14,935)(16,293)
Total net sales$227,952 $237,059 $445,842 $476,216 
Three months ended
June 30,		Six months ended
June 30,
2025202420252024
Cost of Goods Sold:
Control Devices$57,822 $66,042 $115,608 $130,051 
Electronics112,492 110,639 217,018 229,783 
Stoneridge Brazil9,056 6,643 18,225 14,138 
Unallocated Corporate (A)
(356)(5)(244)147 
Total cost of goods sold$179,014 $183,319 $350,607 $374,119 
Design and Development:
Control Devices$3,863 $4,844 $7,998 $9,952 
Electronics13,447 11,671 25,448 22,409 
Stoneridge Brazil712 816 1,494 1,587 
Unallocated Corporate (A)
682 1,126 1,590 2,112 
Total design and development$18,704 $18,457 $36,530 $36,060 
Other Segment Costs:
Control Devices$6,160 $5,290 $11,907 $11,165 
Electronics14,003 13,368 26,753 26,182 
Stoneridge Brazil4,124 4,231 7,861 7,977 
Unallocated Corporate (A)
8,548 8,987 18,010 16,975 
Total other segment costs$32,835 $31,876 $64,531 $62,299 
Operating (Loss) Income:
Control Devices$2,566 $3,725 $3,731 $5,889 
Electronics2,739 9,831 8,244 16,920 
Stoneridge Brazil969 (41)1,554 163 
Unallocated Corporate (A)
(8,875)(10,108)(19,355)(19,234)
Total operating (loss) income$(2,601)$3,407 $(5,826)$3,738 
Depreciation and Amortization:
Control Devices$2,127 $2,806 $4,453 $5,669 
Electronics3,974 3,903 7,514 7,764 
Stoneridge Brazil1,143 1,221 2,236 2,497 
Unallocated Corporate336 620 649 1,204 
Total depreciation and amortization (B)
$7,580 $8,550 $14,852 $17,134 
Interest Expense (Income), net:
Control Devices$(99)$(19)$(174)$(19)
Electronics178 501 433 1,104 
Stoneridge Brazil(218)(224)(367)(594)
Unallocated Corporate3,273 3,543 6,409 6,944 
Total interest expense, net$3,134 $3,801 $6,301 $7,435 
Three months ended
June 30,		Six months ended
June 30,
2025202420252024
Capital Expenditures:
Control Devices$1,096 $1,587 $2,159 $3,104 
Electronics1,040 2,977 4,920 4,354 
Stoneridge Brazil397 799 695 1,739 
Corporate (C)
121 326 281 760 
Total capital expenditures$2,654 $5,689 $8,055 $9,957 
June 30,
2025		December 31,
2024
Total Assets:
Control Devices$128,660 $136,028 
Electronics394,207 365,226 
Stoneridge Brazil56,475 48,280 
Corporate (C)
462,445 471,793 
Eliminations(402,379)(399,771)
Total assets$639,408 $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 June 30,Six months ended June 30,
2025202420252024
Net Sales:
United States$104,551 $121,515 $205,640 $239,630 
North America$104,551 $121,515 $205,640 $239,630 
Brazil14,860 11,649 29,134 23,865 
South America$14,860 $11,649 $29,134 $23,865 
Sweden36,300 39,886 74,350 83,992 
Estonia35,236 28,579 65,434 57,027 
Netherlands23,623 20,456 45,412 41,386 
Other Europe989 1,692 1,997 4,583 
China12,393 13,282 23,875 25,733 
Europe and Other$108,541 $103,895 211,068 212,721 
Total net sales$227,952 $237,059 $445,842 $476,216 
June 30,
2025		December 31,
2024
Long-term Assets:
United States$86,059 $90,111 
Mexico8,096 5,254 
North America$94,155 $95,365 
Brazil26,993 25,222 
South America$26,993 $25,222 
Sweden37,619 32,918 
Estonia10,668 8,363 
Netherlands63,444 57,677 
Other Europe601 653 
China12,501 13,844 
Europe and Other$124,833 $113,455 
Total long-term assets$245,981 $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.