Company: THRM
Filing Date: 2025-02-19
Form Type: 10-K
Source: 0000950170-25-023344
Chunk: 72

Company: Gentherm Inc
Filing Date: 2025-02-19
Form: 10-K
Item: Item 16
Chunk 72
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 President and Chief Executive Officer, for making operating decisions for the Company. Our CODM uses operating income or loss to evaluate the performance and allocate resources for each of the Company’s segments. Operating income or loss is used to monitor budget versus actual results and year-over-year actual results to inform the decisions of how to allocate capital and resources within the Company. The measure of assets has not been disclosed for each segment as it is not regularly reviewed by the CODM.

 F-45

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

The table below presents segment information about the reported product revenues, operating income (loss), and significant segment expenses of the Company for the years ended December 31, 2024, 2023 and 2022:

        Year Ended December 31,

        Product Revenues
         
        2024

        2023

        2022

        Automotive
         
        $
        1,406,278

        $
        1,422,952

        $
        1,161,616

        Medical

        49,846

        46,124

        43,040

        Total

        1,456,124

        1,469,076

        1,204,656

        Significant Segment Expenses and Operating Performance

        Automotive

        Cost of sales

        1,058,989

        1,090,941

        898,260

        Net research and development expenses

        68,787

        70,778

        75,137

        Selling, general and administrative expenses

        65,924

        72,090

        62,858

        Restructuring expenses, net

        12,238

        3,187

        637

        Impairment of intangible assets and property and equipment

        —

        —

        6,291

        Automotive operating income

        200,340

        185,956

        118,433

        Medical

        Cost of sales

        25,868

        24,619

        24,938

        Other operating expenses

        21,836

        24,230

        22,131

        Impairment of intangible assets and property and equipment

        2