Assets and Liabilities Held for Sale

12 Months Ended

Dec. 31, 2018

Discontinued Operations And Disposal Groups [Abstract]

Assets and Liabilities Held for Sale

Note 15 – Assets and Liabilities Held for Sale

During 2018, Gentherm determined GPT and CSZ-IC met the held for sale criteria and recorded an impairment on assets held for sale of $2,190 in impairment loss to adjust net book value to fair value less costs to sell. See Note 2 for information about the Company’s held for sale accounting policy, including a description of the criteria necessary for a disposal group to qualify for classification as held for sale. GPT and CSZ-IC did not meet the criteria to be classified as a discontinued operation.

Note 15 – Assets and Liabilities Held for Sale – (Continued)

The assets and liabilities of the disposal group classified as held for sale as of December 31, 2018 are as follows:

Accounts receivable, less allowance of $96	$	10,868
Inventory, net		13,925
Prepaid expenses and other assets		263
Property and equipment, net		29,459
Goodwill		6,844
Other intangible assets, net		6,326
Deferred income tax assets		4,204
Other non-current assets		—
Impairment loss		(2,190	)
Total assets held for sale	$	69,699
Accounts payable	$	2,614
Accrued liabilities		10,448
Total liabilities held for sale	$	13,062

Losses before income taxes from GPT and CSZ-IC during 2018, including $2,190 in impairment loss recognized on held for sale assets, $6,151 in impairment loss on goodwill and $3,135 in impairment loss recognized on other intangible assets, were $15,747. Losses before income taxes from GPT and CSZ-IC during 2017 were $1,949. Management’s estimates used to record impairment expense are inherently uncertain and may change in future periods.