Company: THRM
Filing Date: 2025-02-19
Form Type: 10-K
Source: 0000950170-25-023344
Chunk: 65

Company: Gentherm Inc
Filing Date: 2025-02-19
Form: 10-K
Item: Item 16
Chunk 65
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 the Board of Directors authorized a new stock repurchase program (the “2024 Stock Repurchase Program”) to commence upon expiration of the 2020 Stock Repurchase Program on June 30, 2024. Under the 2024 Stock Repurchase Program, the Company is authorized to repurchase up to $150,000 of its issued and outstanding Common Stock over a three-year period, expiring June 30, 2027. Repurchases may be made, from time to time, in amounts and at prices the Company deems appropriate, subject to market conditions, applicable legal requirements, debt covenants and other considerations. Any such repurchases may be executed using open market purchases, accelerated share repurchase programs, privately negotiated agreements or other transactions. Repurchases may be funded from cash on hand, available borrowings or proceeds from potential debt or other capital markets sources.During the year ended December 31, 2024, the Company repurchased $29,883 under the 2024 Stock Repurchase Program with an average price paid per share of $46.73. The 2024 Stock Repurchase Program had $120,117 of repurchase authorization remaining as of December 31, 2024. Stock repurchases are subject to excise tax, subject to specified exclusions and adjustments. Excise tax of $502 was charged to common stock for the year ended December 31, 2024.

 F-35

GENTHERM INCORPORATED NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS (Continued)(In thousands, except share and per share data)  

Note 17 – Reclassifications Out of Accumulated Other Comprehensive LossReclassification adjustments and other activities impacting accumulated other comprehensive loss during the years ended December 31, 2024, 2023 and 2022 are as follows: 

        Defined BenefitPension Plans

        Foreign CurrencyTranslationAdjustments

        Commodity Hedge Derivatives

        Foreign CurrencyHedgeDerivatives

        Total

        Balance at December 31, 2023
         
        $
        (1,011
        )
         
        $
        (34,830
        )
         
        $
        —

        $
        5,681

        $
        (30,160
        )

        Other comprehensive loss before reclassifications

        (1,242
        )

        (45,519
        )

        —

        (3,648
        )

        (50,409