Segment Reporting

9 Months Ended

Sep. 30, 2022

Segment Reporting [Abstract]

Segment Reporting

Note 15 – 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, lumbar and massage comfort solutions, valve system technologies, 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 nine months ended September 30, 2022 and 2021.

Three Months Ended September 30,	Automotive		Medical			Corporate			Total
2022
Product revenues	$	322,555	$	10,407		$	—		$	332,962
Depreciation and amortization		10,499		1,035			302		$	11,836
Operating income (loss)		43,067		(2,232	)		(18,014	)	$	22,821
2021
Product revenues	$	233,028	$	10,356		$	—		$	243,384
Depreciation and amortization		8,977		654			228		$	9,859
Operating income (loss)		33,129		(974	)		(11,451	)	$	20,704

Nine Months Ended September 30,	Automotive		Medical			Corporate			Total
2022
Product revenues	$	829,570	$	31,764		$	—		$	861,334
Depreciation and amortization		27,333		2,224			913		$	30,470
Operating income (loss)		98,367		(3,264	)		(50,356	)	$	44,747
2021
Product revenues	$	767,503	$	30,421		$	—		$	797,924
Depreciation and amortization		26,923		1,818			689		$	29,430
Operating income (loss)		129,788		(1,392	)		(35,271	)	$	93,125

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

	Three Months Ended September 30,				Nine Months Ended September 30,
	2022		2021		2022		2021
Climate Control Seat	$	112,059	$	89,991	$	311,281	$	297,393
Seat Heaters		75,568		61,516		210,367		208,101
Steering Wheel Heaters		31,482		24,578		89,169		80,139
Automotive Cables		18,338		19,465		59,662		66,686
Battery Performance Solutions		20,331		16,928		55,395		52,265
Electronics		12,083		11,567		33,190		41,324
Lumbar and Massage Comfort Solutions (a)		22,740		—		22,740		—
Valve System Technologies (a)		18,542		—		18,542		—
Other Automotive		11,412		8,983		29,224		21,595
Subtotal Automotive segment		322,555		233,028		829,570		767,503
Medical segment (a)		10,407		10,356		31,764		30,421
Total Company	$	332,962	$	243,384	$	861,334	$	797,924

(a)Includes product revenues from acquisitions since their respective acquisition dates (see Note 3).
 

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

	Three Months Ended September 30,				Nine Months Ended September 30,
	2022		2021		2022		2021
United States	$	131,021	$	96,683	$	337,759	$	314,144
China		57,439		32,198		127,183		99,570
South Korea		22,751		20,894		67,632		71,050
Germany		19,454		16,011		54,805		51,541
Japan		17,603		17,054		42,305		52,607
Romania		11,592		10,850		35,866		40,801
Czech Republic		13,247		7,650		35,630		33,460
Finland		9,757		7,866		26,244		21,780
Slovakia		8,109		6,294		25,755		23,655
Canada		5,093		4,704		17,047		14,403
Other		36,896		23,180		91,108		74,913
Total Non-U.S.		201,941		146,701		523,575		483,780
Total Company	$	332,962	$	243,384	$	861,334	$	797,924