Company: THRM
Filing Date: 2025-02-19
Form Type: 10-K
Source: 0000950170-25-023344
Chunk: 58

Company: Gentherm Inc
Filing Date: 2025-02-19
Form: 10-K
Item: Item 16
Chunk 58
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 the sole discretion to determine whether to discount one or more invoices, if any, to the Service Provider in exchange for payment by the Service Provider on an earlier date than provided for in the contract with the Company. Amounts due to participating suppliers are included in accounts payable in the consolidated balance sheets until the Company makes payment to the Service Provider, even though the payment of such amount will be made to the supplier at an earlier date by the Service Provider. As of December 31, 2024, the Company had outstanding payment obligations to participating suppliers of $21,232 confirmed under the program. Payments of the Company’s obligations to the Service Provider are reported as operating cash flows in the consolidated statements of cash flows.The following is a reconciliation of the changes in confirmed obligations to participating suppliers:

        Year Ended December 31,

        2024

        Outstanding at beginning of year
         
        $
        —

        Invoices confirmed

        90,343

        Invoices settled

        (69,111
        )

        Outstanding at end of year
         
        $
        21,232

Note 13 — Earnings Per ShareBasic earnings per share are computed by dividing net income by the weighted average number of shares of Common Stock outstanding during the period. The Company’s diluted earnings per share give effect to all potential shares of Common Stock outstanding during a period that do not have an anti-dilutive impact to the calculation. In computing the diluted earnings per share, the treasury stock method is used in determining the number of shares assumed to be issued from the exercise of Common Stock equivalents. The following table illustrates earnings per share and the weighted average shares outstanding used in calculating basic and diluted earnings per share: 

        Year Ended December 31,

        2024

        2023

        2022

        Net income
         
        $
        64,947

        $
        40,343

        $
        24,441

        Basic weighted average shares of Common Stock outstanding

        31,293,113

        32,778,055

        33,126,202

        Dilutive effect of stock options, restricted stock awards and restricted stock units

        183,373

        288,862

        376,952

        Diluted weighted average shares of Common Stock outstanding

        31,476,486

        33,066,917

        33,503,154

        Basic earnings per share
         
        $