Segment Reporting (Tables)

9 Months Ended

Sep. 30, 2025

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

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


	Three Months Ended September 30,					Nine Months Ended September 30,
	2025			2024		2025		2024
Product Revenues
Automotive	$	374,211		$	358,804	$	1,079,937	$	1,067,444
Medical		12,659			12,708		35,877		35,766
Total		386,870			371,512		1,115,814		1,103,210

Significant Segment Expenses and Operating Performance
Automotive
Cost of sales		283,663			267,671		822,314		800,053
Net research and development expenses		18,629			17,788		55,831		52,224
Selling, general and administrative expenses		17,013			16,127		49,546		49,765
Restructuring expenses, net		3,972			2,662		10,410		11,470
Loss on sale of land and building, net		—			—		2,196		—
Automotive operating income		50,934			54,556		139,640		153,932

Medical
Cost of sales		6,691			6,814		18,696		18,828
Other operating expenses		5,982			5,415		17,137		16,134
Impairment of intangible assets		—			—		—		530
Medical operating (loss) income		(14	)		479		44		274

Corporate and Other Unallocated Expenses
Corporate and other unallocated expenses		27,062			22,698		74,756		70,832
Total consolidated operating income	$	23,858		$	32,337	$	64,928	$	83,374

Other Segment Disclosures
Depreciation and Amortization
Automotive	$	11,990		$	12,118	$	35,388	$	36,343
Medical		849			870		2,555		2,622
Corporate and other unallocated expenses		550			364		1,535		1,120
Total	$	13,389		$	13,352	$	39,478	$	40,085

Segment Information About Reported Segment Product Revenues by Product Category

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


	Three Months Ended September 30,				Nine Months Ended September 30,
	2025		2024		2025		2024
Climate Control Seats (a)	$	201,275	$	189,898	$	592,448	$	581,713
Lumbar and Massage Comfort Solutions		55,799		48,970		153,642		133,090
Climate Control Interiors (a)		52,638		49,283		147,564		140,712
Climate and Comfort Electronics (a)		8,599		4,883		22,220		13,266
Automotive Climate and Comfort Solutions		318,311		293,034		915,874		868,781
Valve Systems		24,487		26,082		72,803		81,974
Other Automotive (a)		31,413		39,688		91,260		116,689
Subtotal Automotive segment		374,211		358,804		1,079,937		1,067,444
Medical segment		12,659		12,708		35,877		35,766
Total Company	$	386,870	$	371,512	$	1,115,814	$	1,103,210

(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 nine months ended September 30, 2025 and 2024 is as follows:


	Three Months Ended September 30,				Nine Months Ended September 30,
	2025		2024		2025		2024
United States	$	139,991	$	127,869	$	391,662	$	380,681
China		63,679		54,791		167,214		162,476
Germany		30,300		26,394		86,038		81,635
South Korea		20,422		22,487		68,288		78,341
Czech Republic		21,437		20,830		66,113		60,520
Mexico		18,272		10,783		51,704		32,621
Slovakia		12,828		13,970		41,121		41,870
Romania		13,533		13,069		41,056		40,299
Japan		12,027		13,370		35,805		40,562
United Kingdom		6,387		9,674		25,538		31,480
Other		47,994		58,275		141,275		152,725
Total Non-U.S.		246,879		243,643		724,152		722,529
Total Company	$	386,870	$	371,512	$	1,115,814	$	1,103,210

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


	September 30, 2025		December 31, 2024
Property and equipment, net
Germany	$	49,591	$	42,457
Mexico		49,222		47,814
China		45,195		44,767
United States		38,158		42,928
North Macedonia		26,736		25,374
Vietnam		19,348		20,920
Czech Republic		10,232		9,440
Hungary		8,583		7,994
Ukraine		4,792		5,174
Other		5,091		6,102
Total	$	256,948	$	252,970

Gentherm Inc 10-Q