Company: THRM
Filing Date: 2025-02-19
Form Type: 10-K
Source: 0000950170-25-023344
Chunk: 133

Company: Gentherm Inc
Filing Date: 2025-02-19
Form: 10-K
Item: Item 1B
Chunk 133
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 consolidated balance sheet as of December 31, 2024 is set forth in Note 14, “Financial Instruments” in the consolidated financial statements included in this Annual Report. 

Interest Rate Sensitivity 

The table presents principal cash flows and related weighted average interest rates by expected maturity dates for each of the Company’s debt obligations, excluding finance leases. The information is presented in U.S. dollar equivalents, which is the Company’s reporting currency. 

    Expected Maturity Date

    2025

    2026

    2027

    2028

    Total

    Fair Value

    Liabilities

    Long-Term Debt:

    Variable rate
     
    $
    —

    $
    —

    $
    220,000

    $
    —

    $
    220,000

    $
    220,000

    Variable interest rate as of December 31, 2024

    5.86
    %

    5.86
    %

Based on the amounts outstanding as of December 31, 2024, a hypothetical 100 basis point change (increase or decrease) in interest rates would impact annual interest expense by $2.2 million. To hedge the Company's exposure to interest payment fluctuations on a portion of the borrowings, we entered into a floating-to-fixed interest rate swap agreement with a notional amount of $100.0 million.

 51

Exchange Rate Sensitivity 

The table below provides information about the Company’s foreign currency forward exchange rate agreements that are sensitive to changes in foreign currency exchange rates. The table presents the notional amounts and weighted average exchange rates by expected (contractual) maturity dates for each type of foreign currency forward exchange agreement. These notional amounts generally are used to calculate the contractual payments to be exchanged under the contract. 

    Expected Maturity or Transaction Date

    Anticipated Transactions and Related Derivatives
     
    2025

    2026

    Total

    Fair Value

    USD Functional Currency

    Exchange Agreements:

    (Receive MXN / Pay USD)

    Total contract amount
     
    $
    79,359

    $
    35,122

    $
    114,481

    $
    (1,952
    )

    Average contract rate

    19.85

    20.50

    20.05

    (Receive HUF / Pay EUR)

    Total contract amount
     
    $