Segment Reporting (Tables)

6 Months Ended

Jun. 30, 2025

Segment Information about Reported Product Revenues,Depreciation and Amortization and Operating Income (Loss)

The table below presents segment information about the reported product revenues, significant segment expenses, operating income (loss) and depreciation and amortization of the Company for the three and six months ended June 30, 2025 and 2024.


	Three Months Ended June 30,					Six Months Ended June 30,
	2025			2024		2025		2024
Product Revenues
Automotive	$	363,852		$	364,002	$	705,726	$	708,640
Medical		11,238			11,681		23,218		23,058
Total		375,090			375,683		728,944		731,698

Significant Segment Expenses and Operating Performance
Automotive
Cost of sales		278,424			272,093		538,651		532,382
Net research and development expenses		17,818			17,012		37,202		34,436
Selling, general and administrative expenses		16,814			17,037		32,533		33,638
Restructuring expenses, net		1,924			1,694		6,438		8,808
Loss on sale of land and building, net		—			—		2,196		—
Automotive operating income		48,872			56,166		88,706		99,376

Medical
Cost of sales		5,729			6,101		12,005		12,014
Other operating expenses		5,846			5,302		11,155		10,719
Impairment of intangible assets		—			—		—		530
Medical operating (loss) income		(337	)		278		58		(205	)

Corporate and Other Unallocated Expenses
Corporate and other unallocated expenses		24,526			23,456		47,694		48,134
Total consolidated operating income	$	24,009		$	32,988	$	41,070	$	51,037

Other Segment Disclosures
Depreciation and Amortization
Automotive	$	11,796		$	11,817	$	23,398	$	24,225
Medical		851			869		1,706		1,752
Corporate and other unallocated expenses		511			229		985		756
Total	$	13,158		$	12,915	$	26,089	$	26,733

Segment Information About Reported Segment Product Revenues by Product Category

Automotive and Medical segment product revenues by product category for the three and six months ended June 30, 2025 and 2024 were as follows:


	Three Months Ended June 30,				Six Months Ended June 30,
	2025		2024		2025		2024
Climate Control Seats (a)	$	200,020	$	199,766	$	391,173	$	391,815
Lumbar and Massage Comfort Solutions		52,530		45,869		97,843		84,120
Climate Control Interiors (a)		49,585		47,031		94,926		91,429
Climate and Comfort Electronics (a)		5,906		4,157		13,621		8,383
Automotive Climate and Comfort Solutions		308,041		296,823		597,563		575,747
Valve Systems		25,143		29,267		48,316		55,892
Other Automotive (a)		30,668		37,912		59,847		77,001
Subtotal Automotive segment		363,852		364,002		705,726		708,640
Medical segment		11,238		11,681		23,218		23,058
Total Company	$	375,090	$	375,683	$	728,944	$	731,698

(a)

Product categories have been modified, and prior-period amounts have been recast to conform with the current period presentation. Climate Control Seats (CCS) includes CCS Heat (previously Seat Heaters), CCS Vent/CCS Active Cool (previously CCS) and CCS Neck Conditioners (previously included in Other Automotive). Climate Control Interiors (CCI) includes CCI Steering Wheel Heat and CCI Interior Heat (previously included in Other Automotive). Other Automotive includes Automotive Cables, Battery Performance Solutions, non-automotive electronics and contract manufacturing electronics (previously classified as Electronics).

Product Revenues Information by Geographic Area

Revenue (based on shipment destination) by geographic area for the three and six months ended June 30, 2025 and 2024 is as follows:


	Three Months Ended June 30,				Six Months Ended June 30,
	2025		2024		2025		2024
United States	$	126,745	$	127,359	$	251,671	$	252,812
China		54,600		53,209		103,535		107,685
Germany		29,181		31,628		55,738		55,241
South Korea		24,082		27,670		47,866		55,854
Czech Republic		23,692		20,106		44,676		39,690
Mexico		17,760		11,823		33,432		21,838
Slovakia		14,571		14,722		28,293		27,900
Romania		14,566		13,008		27,523		27,230
Japan		11,679		14,737		23,778		27,192
United Kingdom		9,775		10,482		19,151		21,806
Other		48,439		50,939		93,281		94,450
Total Non-U.S.		248,345		248,324		477,273		478,886
Total Company	$	375,090	$	375,683	$	728,944	$	731,698

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 June 30, 2025 and December 31, 2024 is as follows:


	June 30, 2025		December 31, 2024
Property and equipment, net
Germany	$	49,688	$	42,457
Mexico		49,654		47,814
China		44,499		44,767
United States		38,847		42,928
North Macedonia		28,130		25,374
Vietnam		19,665		20,920
Czech Republic		9,916		9,440
Hungary		8,747		7,994
Ukraine		4,799		5,174
Other		8,474		6,102
Total	$	262,419	$	252,970

Gentherm Inc 10-Q