Company: THRM
Filing Date: 2025-02-19
Form Type: 10-K
Source: 0000950170-25-023344
Chunk: 149

Company: Gentherm Inc
Filing Date: 2025-02-19
Form: 10-K
Item: Item 1B
Chunk 149
---
,067

    33,503

The accompanying notes are an integral part of these consolidated financial statements 

 F-6

GENTHERM INCORPORATED 

CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME 

(In thousands) 

    Year Ended December 31,

    2024

    2023

    2022

    Net income
     
    $
    64,947

    $
    40,343

    $
    24,441

    Other comprehensive (loss) income:

    Pension benefit obligations, net of tax

    (840
    )

    56

    1,826

    Foreign currency translation adjustments, net of tax

    (45,266
    )

    13,439

    (14,081
    )

    Unrealized (loss) gain on foreign currency derivative securities, net of tax

    (8,927
    )

    2,834

    2,693

    Unrealized loss on commodity derivative securities, net of tax

    —

    —

    (5
    )

    Other comprehensive (loss) income, net of tax

    (55,033
    )

    16,329

    (9,567
    )

    Comprehensive income
     
    $
    9,914

    $
    56,672

    $
    14,874

The accompanying notes are an integral part of these consolidated financial statements 

 F-7

GENTHERM INCORPORATED 

CONSOLIDATED STATEMENTS OF CHANGES IN SHAREHOLDERS’ EQUITY 

(In thousands) 

    Accumulated

    Other

    Common Stock

    Paid-in

    Comprehensive

    Accumulated

    Shares

    Amount

    Capital

    (Loss) Income

    Earnings

    Total

    Balance at December 31, 2021

    33,008

    $
    118,646

    $
    5,866

    $
    (36,922
    )
     
    $
    566,216

    $
    653,806

    Net income

    —

    —

    —

    —

    24,441

    24,441

    Other comprehensive loss

    —

    —

    —

    (9,567
    )

    —

    (9,567
    )

    Stock compensation, net

    194