Segment Reporting

3 Months Ended

Mar. 31, 2025

ASC 280, Segment Reporting, requires that a public business entity report financial and descriptive information about its reportable operating segments subject to certain aggregation criteria and quantitative thresholds. Operating segments are defined by ASC 280 as components of a public business entity about which separate financial information is available that is evaluated regularly by the chief operating decision-maker ("CODM") in deciding how to allocate resources and in assessing performance. The Company's CODM is its Chief Executive Officer. The Company discloses segment information under two reportable segments, which are Automotive Products and Other. The Company's Automotive Products segment develops and manufactures digital vision and connected car products and electronics, including automatic-dimming rearview mirrors with and without electronic features; non-auto dimming rearview mirrors with and without electronic features; and other electronics. The Company's Other segment includes the operating segments of Fire Protection, Dimmable Aircraft Windows, Nanofiber, Medical, and Biometrics.

The table below presents net sales and the significant expense categories that are included in reportable segment operating profit and regularly provided to our CODM:


	Three Months Ended March 31,
	2025		2024
Net Sales:
Automotive Products	$	563,864,259	$	577,602,196
Other	12,908,831		12,623,015
Total	$	576,773,090	$	590,225,211

Cost of Goods Sold:
Automotive Products	$	375,497,192	$	379,926,869
Other	9,542,311		8,060,736
Total	$	385,039,503	$	387,987,605

Operating Expenses:
Automotive Products	$	71,076,825	$	68,129,187
Other	7,669,656		4,762,107
Total	$	78,746,481	$	72,891,294

Depreciation and Amortization:
Automotive Products	$	23,466,283	$	21,943,093
Other	813,403		798,749
Corporate	1,229,383		1,211,926
Total	$	25,509,069	$	23,953,768

Income (Loss) from Operations:
Automotive Products	$	117,290,242	$	129,546,140
Other	(4,303,136)		(199,828)
Total	$	112,987,106	$	129,346,312

Assets:
Automotive Products	$	1,846,060,773	$	1,841,283,617
Other	87,293,379		86,813,215
Corporate	849,195,076		785,117,738
Total	$	2,782,549,228	$	2,713,214,570

Capital Expenditures:
Automotive Products	$	33,932,287	$	28,037,141
Other	87,324		1,128,815
Corporate	2,702,790		2,705,414
Total	$	36,722,401	$	31,871,370

- Definition

The entire disclosure for reporting segments including data and tables. Reportable segments include those that meet any of the following quantitative thresholds a) it's reported revenue, including sales to external customers and intersegment sales or transfers is 10 percent or more of the combined revenue, internal and external, of all operating segments b) the absolute amount of its reported profit or loss is 10 percent or more of the greater, in absolute amount of 1) the combined reported profit of all operating segments that did not report a loss or 2) the combined reported loss of all operating segments that did report a loss c) its assets are 10 percent or more of the combined assets of all operating segments.

+ References

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+ Details

GENTEX CORP 10-Q