Segment Reporting

9 Months Ended

Sep. 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 nine months ended September 30, 2021 and 2020.  

Three Months Ended September 30,	Automotive		Medical			Corporate			Total
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
2020:
Product revenues	$	249,764	$	9,776		$	—		$	259,540
Depreciation and amortization		9,403		590			296		$	10,289
Operating income (loss)		55,397		(286	)		(16,605	)	$	38,506
Nine Months Ended September 30,	Automotive		Medical			Corporate			Total
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
2020:
Product revenues	$	590,622	$	33,592		$	—		$	624,214
Depreciation and amortization		28,191		1,768			818		$	30,777
Operating income (loss)		81,236		1,580			(35,506	)	$	47,310

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

	Three Months Ended September 30,				Nine Months Ended September 30,
	2021		2020		2021		2020
Climate Control Seat (CCS)	$	89,991	$	97,058	$	297,393	$	229,465
Seat Heaters		61,516		73,471		208,101		171,345
Steering Wheel Heaters		24,578		22,506		80,139		49,721
Automotive Cables		19,465		18,917		66,686		50,890
Battery Performance Solutions (BPS)		16,928		15,956		52,265		33,818
Electronics		11,567		14,463		41,324		38,327
Other Automotive		8,983		7,393		21,595		17,056
Subtotal Automotive segment		233,028		249,764		767,503		590,622
Medical segment		10,356		9,776		30,421		33,592
Total Company	$	243,384	$	259,540	$	797,924	$	624,214

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

	Three Months Ended September 30,				Nine Months Ended September 30,
	2021		2020		2021		2020
United States	$	96,683	$	111,189	$	314,144	$	264,204
China		32,198		27,363		99,570		63,883
South Korea		20,894		23,260		71,050		60,062
Japan		17,054		15,280		52,607		40,766
Germany		16,011		14,553		51,541		41,144
Other		60,544		67,895		209,012		154,155
Total Non-U.S.		146,701		148,351		483,780		360,010
Total Company	$	243,384	$	259,540	$	797,924	$	624,214