XML 56 R44.htm IDEA: XBRL DOCUMENT v3.24.0.1
Segment Reporting (Tables)
12 Months Ended
Dec. 31, 2023
Segment Reporting [Abstract]  
Segment Information about Reported Product Revenues, Depreciation and Amortization and Operating Income (Loss)

The tables below present segment information about the reported product revenues and operating income of the Company for years ended December 31, 2023, 2022 and 2021.

 

 

Automotive

 

 

Medical

 

 

Corporate

 

 

Total

 

2023:

 

 

 

 

 

 

 

 

 

 

 

 

Product revenues

 

$

1,422,952

 

 

$

46,124

 

 

$

 

 

$

1,469,076

 

Depreciation and amortization

 

 

45,845

 

 

 

3,654

 

 

 

1,449

 

 

 

50,948

 

Operating income (loss)

 

 

185,956

 

 

 

(22,234

)

 

 

(86,283

)

 

 

77,439

 

2022:

 

 

 

 

 

 

 

 

 

 

 

 

Product revenues

 

$

1,161,616

 

 

$

43,040

 

 

$

 

 

$

1,204,656

 

Depreciation and amortization

 

 

39,815

 

 

 

3,344

 

 

 

1,235

 

 

 

44,394

 

Operating income (loss)

 

 

118,433

 

 

 

(4,029

)

 

 

(66,097

)

 

 

48,307

 

2021:

 

 

 

 

 

 

 

 

 

 

 

 

Product revenues

 

$

1,004,633

 

 

$

41,517

 

 

$

 

 

$

1,046,150

 

Depreciation and amortization

 

 

35,389

 

 

 

2,460

 

 

 

931

 

 

 

38,780

 

Operating income (loss)

 

 

162,994

 

 

 

(1,829

)

 

 

(46,159

)

 

 

115,006

 

 

Segment Information About Reported Segment Product Revenues by Product Category

Automotive and Medical segment product revenues by product category for each of the years ended December 31, 2023, 2022 and 2021 are as follows:

 

 

Year Ended December 31,

 

 

 

2023

 

 

2022

 

 

2021

 

Climate Control Seat

 

$

482,665

 

 

$

426,046

 

 

$

393,816

 

Seat Heaters

 

 

308,588

 

 

 

283,970

 

 

 

270,054

 

Steering Wheel Heaters

 

 

153,943

 

 

 

120,949

 

 

 

102,496

 

Lumbar and Massage Comfort Solutions (a)

 

 

144,923

 

 

 

56,980

 

 

 

 

Valve Systems (a)

 

 

106,262

 

 

 

41,980

 

 

 

 

Automotive Cables

 

 

79,993

 

 

 

76,962

 

 

 

84,114

 

Battery Performance Solutions

 

 

75,484

 

 

 

71,907

 

 

 

69,594

 

Electronics

 

 

40,387

 

 

 

44,106

 

 

 

51,648

 

Other Automotive

 

 

30,707

 

 

 

38,716

 

 

 

32,911

 

Subtotal Automotive segment

 

 

1,422,952

 

 

 

1,161,616

 

 

 

1,004,633

 

Medical segment (a)

 

 

46,124

 

 

 

43,040

 

 

 

41,517

 

Total Company

 

$

1,469,076

 

 

$

1,204,656

 

 

$

1,046,150

 

(a)
Includes product revenues from acquisitions since their respective acquisition dates (see Note 4).
Product Revenues Information by Geographic Area

Revenue (based on shipment destination) by geographic area for each of the years ended December 31, 2023, 2022 and 2021 is as follows:

 

 

Year Ended December 31,

 

 

 

2023

 

 

2022

 

 

2021

 

United States

 

$

537,096

 

 

$

472,468

 

 

$

404,466

 

China

 

 

221,512

 

 

 

183,419

 

 

 

142,816

 

South Korea

 

 

115,854

 

 

 

94,937

 

 

 

93,516

 

Germany

 

 

102,383

 

 

 

75,367

 

 

 

66,929

 

Czech Republic

 

 

69,714

 

 

 

49,293

 

 

 

43,931

 

Japan

 

 

60,879

 

 

 

57,718

 

 

 

63,527

 

Romania

 

 

53,982

 

 

 

47,532

 

 

 

51,367

 

Mexico

 

 

45,733

 

 

 

23,233

 

 

 

18,194

 

Slovakia

 

 

44,946

 

 

 

34,686

 

 

 

30,004

 

Finland

 

 

39,632

 

 

 

33,627

 

 

 

29,325

 

Other

 

 

177,345

 

 

 

132,376

 

 

 

102,075

 

Total Non-U.S.

 

 

931,980

 

 

 

732,188

 

 

 

641,684

 

Total Company

 

$

1,469,076

 

 

$

1,204,656

 

 

$

1,046,150

 

Percentage of Total Product Revenues Generated from Customers

The table below lists the percentage of total product revenues generated from sales to customers which contributed 10% or more to the Company’s total consolidated product revenue for the years ended December 31, 2023, 2022 and 2021:

 

 

Year Ended December 31,

 

 

 

2023

 

 

2022

 

 

2021

 

Lear

 

 

15

%

 

 

16

%

 

 

15

%

Adient

 

 

13

%

 

 

15

%

 

 

15

%

 

Schedule of Property and Equipment, Net by Geographic Area

Property and equipment, net, for each of the geographic areas in which the Company operates as of December 31, 2023 and 2022 is as follows:

 

 

 

December 31,

 

Property and equipment, net

 

2023

 

 

2022

 

Germany

 

$

46,586

 

 

$

47,342

 

China

 

 

45,429

 

 

 

43,162

 

Mexico

 

 

39,943

 

 

 

31,597

 

United States

 

 

37,413

 

 

 

41,034

 

North Macedonia

 

 

27,675

 

 

 

27,808

 

Vietnam

 

 

21,664

 

 

 

19,808

 

Czech Republic

 

 

11,126

 

 

 

11,381

 

Hungary

 

 

9,097

 

 

 

11,736

 

Ukraine

 

 

5,986

 

 

 

5,077

 

Other

 

 

315

 

 

 

5,535

 

Total

 

$

245,234

 

 

$

244,480