Pension and Other Post Retirement Benefit Plans (Tables)

12 Months Ended

Dec. 31, 2018

Defined Benefit Plan Disclosure [Line Items]

Benefit Obligation, Amounts Recognized Company's Financial Statements and Principal Assumptions

The Company records a projected benefit obligation representing the present value of future plan benefits when earned by the participant. The following table sets forth the benefit obligation, amounts recognized in the Company’s financial statements and the principal assumptions used:

	2018			2017
Change in projected benefit obligation:
Benefit obligation at beginning of year	$	4,218		$	3,419
Service cost		—			101
Interest cost		114			111
Actuarial (gain) loss		(158	)		78
Prior service cost		(342	)		509
Benefit obligation at end of year	$	3,832		$	4,218

Components of Net Periodic Pension Benefit Cost

Components of the Plan’s net periodic pension benefit cost for the years ended December 31, 2018, 2017 and 2016 are as follows:

	2018		2017		2016
Service cost	$	—	$	101	$	387
Interest cost		114		111		98
Amortization of prior service cost		—		509		—
Net periodic benefit cost	$	114	$	721	$	485

Pretax Amounts Recognized in Other Comprehensive (Loss) Income

Pretax amounts recognized in other comprehensive income for the years ended December 31, 2018, 2017 and 2016 are as follows

	2018			2017			2016
Actuarial Losses/(gains)	$	(158	)	$	78		$	36
Amortization of actuarial losses		—			—			—
Establish prior service cost		—			509			—
Amortization prior service cost		—			(509	)		—
	$	(158	)	$	78		$	36

Fair Value of Plan Assets

The following table sets forth the fair value of the plan assets for the periods ending December 31, 2018 and 2017:

	2018			2017
Change in plan assets:
Plan assets at beginning of year	$	3,891		$	3,326
Actual return on plan assets		130			121
Contributions		292			272
Paid pension distributions		(292	)		(272	)
Actuarial losses		(30	)		(28	)
Exchange rate impact		(183	)		472
Plan assets at end of year	$	3,808		$	3,891

Actuarial Assumptions Used to Determine Benefit Obligation and Net Periodic Service Cost

The Gentherm GmbH defined benefit plan is underfunded by $3,720 and $4,036 as of December 31, 2018 and 2017, respectively. The net periodic benefit cost is included in selling, general and administrative expenses in the Company’s consolidated statements of income and actuarial gains and losses are included the Company’s consolidated balance sheet as part of accumulated other comprehensive income within shareholders’ equity. Actuarial gains or losses are amortized to selling, general and administrative expense in the Company’s consolidated statements of income using the corridor method. The following table describes the actuarial assumptions used to determine the benefit obligation and the net periodic service cost:

	2018			2017			2016
Discount rate		2.04	%		1.93	%		1.69	%
Expected long term rate of return on plan assets		3.40	%		3.40	%		3.40	%

Schedule of Expected Pension Payments

The schedule of expected pension payments made to Gentherm GmbH defined benefit plan participants over the next 10 years is as follows:

Year
2019	$	287
2020		285
2021		283
2022		279
2023		290
2024 - 2028		1,344
Total	$	2,768

Gentherm GmbH

Defined Benefit Plan Disclosure [Line Items]

Benefit Obligation, Amounts Recognized Company's Financial Statements and Principal Assumptions

Gentherm GmbH records a projected benefit obligation representing the present value of future plan benefits when earned by the participant. The following table sets forth the benefit obligation and amounts recognized in the Company’s financial statements:

	2018			2017
Change in projected benefit obligation:
Benefit obligation at beginning of year	$	7,927		$	7,326
Interest cost		147			130
Paid pension distributions		(292	)		(272	)
Actuarial (gains)/losses		114			(257	)
Exchange rate impact		(367	)		1,000
Benefit obligation at end of year	$	7,529		$	7,927

Components of Net Periodic Pension Benefit Cost

Components of the Plan’s net periodic pension benefit cost for the years ended December 31, 2018, 2017 and 2016 are as follows:

	2018			2017			2016
Interest cost	$	147		$	130		$	154
Return on plan assets		(130	)		(121	)		(125	)
Amortization of prior service cost		—			—			—
Amortization of actuarial loss (gains)		73			78			48
Net periodic benefit cost	$	90		$	87		$	77

Pretax Amounts Recognized in Other Comprehensive (Loss) Income

Pretax amounts recognized in other comprehensive (loss) income for the years ended December 31, 2018, 2017 and 2016 are as follows:

	2018			2017			2016
Actuarial (gains)/losses	$	143		$	(229	)	$	718
Amortization of actuarial losses		(73	)		(78	)		(48	)
Amortization of prior service cost		—			—			—
	$	70		$	(307	)	$	670