Company: THRM
Filing Date: 2025-02-19
Form Type: 10-K
Source: 0000950170-25-023344
Chunk: 134

Company: Gentherm Inc
Filing Date: 2025-02-19
Form: 10-K
Item: Item 1B
Chunk 134
---
 12,015

    $
    —

    $
    12,015

    $
    (86
    )

    Average contract rate

    399.50

    —

    399.50

The table below presents the potential gain and loss in fair value for the foreign currency derivative contracts from a hypothetical 10% change in quoted currency exchange rates.

    2024

    2023

    Exchange Rate Sensitivity
     
    Potential loss in fair value

    Potential gain in fair value

    Potential loss in fair value

    Potential gain in fair value

    Exchange Agreements:(Receive MXN / Pay USD)
     
    $
    6,243

    $
    7,359

    $
    7,179

    $
    9,798

    Exchange Agreements:(Receive HUF / Pay EUR)

    917

    1,120

    —

    —

 52

ITEM 8. 	FINANCIAL STATEMENTS AND SUPPLEMENTARY DATA 

The audited consolidated financial statements and related financial information required to be filed hereunder are indexed on page F-1 of this Annual Report and are incorporated herein by reference. 

ITEM 9.	CHANGES IN AND DISAGREEMENTS WITH ACCOUNTANTS ON ACCOUNTING AND FINANCIAL DISCLOSURE 

None. 

ITEM 9A.	CONTROLS AND PROCEDURES 

Evaluation of Disclosure Controls and Procedures

Management of the Company, under the supervision and with the participation of the Chief Executive Officer and the Chief Financial Officer, carried out an evaluation of the effectiveness of the design and operation of the Company’s disclosure controls and procedures as of December 31, 2024. As defined in Rules 13a-15(e) and 15d-15(e) under the Securities Exchange Act of 1934 (as amended, the “Exchange Act”), disclosure controls and procedures are controls and procedures designed to provide reasonable assurance that information required to be disclosed in reports filed or submitted under the Exchange Act is recorded, processed, summarized and reported on a timely basis, and that such information is accumulated and communicated to management, including the Chief Executive Officer and Chief Financial Officer, as appropriate, to allow timely decisions regarding required disclosure. Based upon this evaluation, the Chief Executive Officer and Chief Financial Officer have concluded that the Company’s disclosure controls and procedures were effective as of December 31, 2024.

Management’s Report on Internal Control Over Financial Reporting

Management is responsible for