Segment Reporting

6 Months Ended

Jun. 30, 2021

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 combined results from our Medical business.

• Corporate – includes corporate costs, selling, general and administrative costs and acquisition transaction costs. This segment was renamed during fourth quarter of 2020 to better align with the costs allocated to this segment.  It was previously named ‘Reconciling Items’.

In 2020, the Industrial reporting segment was renamed the Medical reporting segment to reflect the patient temperature management business as the focus and strategic direction of this segment. Also, during 2020, the advanced research and development costs not associated with the Medical segment were presented within the Automotive segment, as the advanced research and development organization now primarily supports the Automotive related development activities following the divestitures of GPT and CSZ-IC.  For comparability to the prior year, we have moved the portion of advanced research and development costs to the Automotive segment that were focused on technologies related to automotive in both the Depreciation and amortization and Operating income (loss) lines in the table below.

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, 2021 and 2020.  

Three Months Ended June 30,	Automotive			Medical			Corporate			Total
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
2020:
Product revenues	$	124,386		$	11,675		$	—		$	136,061
Depreciation and amortization		9,295			573			214		$	10,082
Operating income (loss)		(2,617	)		903			(8,183	)	$	(9,897	)
Six Months Ended June 30,	Automotive			Medical			Corporate			Total
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
2020:
Product revenues	$	340,858		$	23,816		$	—		$	364,674
Depreciation and amortization		18,787			1,178			523		$	20,488
Operating income (loss)		25,837			1,867			(18,900	)	$	8,804

Automotive and Medical segment product revenues by product category for the three and six months ended June 30, 2021 and 2020 were as follows:

	Three Months Ended June 30,				Six Months Ended June 30,
	2021		2020		2021		2020
Climate Control Seat (CCS)	$	98,229	$	49,879	$	207,402	$	132,407
Seat Heaters		69,864		33,342		146,585		97,874
Steering Wheel Heaters		26,697		7,980		55,561		27,215
Automotive Cables		22,940		9,833		47,221		31,973
Battery Performance Solutions (BPS)		17,577		6,653		35,337		17,862
Electronics		14,652		13,488		29,757		23,864
Other Automotive		5,146		3,211		12,612		9,663
Subtotal Automotive segment		255,105		124,386		534,475		340,858
Medical segment		10,900		11,675		20,065		23,816
Total Company	$	266,005	$	136,061	$	554,540	$	364,674

Total product revenues information by geographic area for the three and six months ended June 30, 2021 and 2020 is as follows (based on shipment destination):

	Three Months Ended June 30,				Six Months Ended June 30,
	2021		2020		2021		2020
United States	$	102,174	$	47,097	$	217,461	$	153,015
China		33,857		23,517		67,372		36,520
South Korea		25,516		20,385		50,156		36,802
Germany		16,350		9,761		35,530		26,591
Japan		17,633		9,349		35,553		25,486
Other		70,475		25,952		148,468		86,260
Total Non-U.S.		163,831		88,964		337,079		211,659
Total Company	$	266,005	$	136,061	$	554,540	$	364,674