Segment Reporting

6 Months Ended

Jun. 30, 2022

Segment Reporting [Abstract]

Segment Reporting

Note 14 – Segment Reporting

Segment information is used by management for making strategic operating decisions for the Company. Management evaluates the performance of the Company’s segments based primarily on operating income or loss.

The Company’s reportable segments are as follows:

•Automotive – this segment represents the design, development, manufacturing and sales of automotive climate comfort systems, automotive cable systems, battery performance solutions, and automotive electronic and software systems.

•Medical – this segment represents the results from our patient temperature management business within the medical industry.

The Corporate category includes unallocated costs related to our corporate headquarter activities, including selling, general and administrative costs and acquisition transaction costs, which do not meet the requirements for being classified as an operating segment.

The tables below present segment information about the reported product revenues, depreciation and amortization and operating income (loss) of the Company for three and six months ended June 30, 2022 and 2021.

Three Months Ended June 30,	Automotive		Medical			Corporate			Total
2022
Product revenues	$	249,152	$	11,563		$	—		$	260,715
Depreciation and amortization		8,197		558			305		$	9,060
Operating income (loss)		24,026		(181	)		(16,110	)	$	7,735
2021
Product revenues	$	255,105	$	10,900		$	—		$	266,005
Depreciation and amortization		8,892		580			245		$	9,717
Operating income (loss)		43,544		113			(11,985	)	$	31,672

Six Months Ended June 30,	Automotive		Medical			Corporate			Total
2022
Product revenues	$	507,016	$	21,356		$	—		$	528,372
Depreciation and amortization		16,863		1,162			610		$	18,635
Operating income (loss)		55,301		(1,032	)		(32,344	)	$	21,925
2021
Product revenues	$	534,475	$	20,065		$	—		$	554,540
Depreciation and amortization		17,945		1,164			462		$	19,571
Operating income (loss)		96,660		(418	)		(23,821	)	$	72,421

Automotive and Medical segment product revenues by product category for the three and six months ended June 30, 2022 and 2021 were as follows:

	Three Months Ended June 30,				Six Months Ended June 30,
	2022		2021		2022		2021
Climate Control Seat	$	96,488	$	98,229	$	199,222	$	207,402
Seat Heaters		65,903		69,864		134,799		146,585
Steering Wheel Heaters		28,951		26,697		57,687		55,561
Automotive Cables		19,280		22,940		41,325		47,221
Battery Performance Solutions		17,451		17,577		35,064		35,337
Electronics		10,278		14,652		21,106		29,757
Other Automotive		10,801		5,146		17,813		12,612
Subtotal Automotive segment		249,152		255,105		507,016		534,475
Medical segment		11,563		10,900		21,356		20,065
Total Company	$	260,715	$	266,005	$	528,372	$	554,540

Total product revenues information by geographic area for the three and six months ended June 30, 2022 and 2021 is as follows (based on shipment destination):

	Three Months Ended June 30,				Six Months Ended June 30,
	2022		2021		2022		2021
United States	$	102,617	$	102,174	$	206,738	$	217,461
China		31,391		33,857		69,744		67,372
South Korea		23,706		25,516		44,881		50,156
Germany		15,565		16,350		35,351		35,530
Romania		11,519		14,866		24,273		29,951
Japan		12,886		17,633		24,702		35,553
Other		63,032		55,609		122,682		118,517
Total Non-U.S.		158,098		163,831		321,634		337,079
Total Company	$	260,715	$	266,005	$	528,372	$	554,540