Company: THRM
Filing Date: 2025-02-19
Form Type: 10-K
Source: 0000950170-25-023344
Chunk: 119

Company: Gentherm Inc
Filing Date: 2025-02-19
Form: 10-K
Item: Item 1B
Chunk 119
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2024 and 2023:

    Year Ended December 31,

    2024

    2023

    Favorable / (Unfavorable)

    Impairment of goodwill
     
    $
    —

    $
    19,509

    $
    19,509

Impairment of goodwill for the year ended December 31, 2023 is related to the recorded Medical reporting unit goodwill impairment.

Interest Expense, net

Below is a summary of our interest expense, net, in thousands, for the years ended December 31, 2024 and 2023:

    Year Ended December 31,

    2024

    2023

    Favorable / (Unfavorable)

    Interest expense, net
     
    $
    (15,300
    )
     
    $
    (14,641
    )
     
    $
    (659
    )

The increase in interest expense during the year ended December 31, 2024 compared to 2023 is primarily related to the impact from the change in fair value of the interest rate swap derivative.

Foreign Currency Gain (Loss)

Below is a summary of our foreign currency gain (loss), in thousands, for the years ended December 31, 2024 and 2023:

    Year Ended December 31,

    2024

    2023

    Favorable / (Unfavorable)

    Foreign currency gain (loss)
     
    $
    9,599

    $
    (5,918
    )
     
    $
    15,517

Foreign currency gain for the year ended December 31, 2024 included net realized foreign currency loss of $1.1 million and unrealized net foreign currency gain of $10.7 million.

Foreign currency loss for the year ended December 31, 2023 included net realized foreign currency gain of $3.2 million and unrealized net foreign currency loss of $9.1 million.

Other Income (Loss)

Below is a summary of our other income (loss), in thousands, for the years ended December 31, 2024 and 2023:

    Year Ended December 31,

    2024

    2023

    Favorable / (Unfavorable)

    Other income (loss)
     
    $
    951

    $
    (1,926
    )
     
    $
    2,877

The increase in other income is primarily