Company: THRM
Filing Date: 2025-02-19
Form Type: 10-K
Source: 0000950170-25-023344
Chunk: 178

Company: Gentherm Inc
Filing Date: 2025-02-19
Form: 10-K
Item: Item 1B
Chunk 178
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 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
         
        $
        2.08

        $
        1.23

        $
        0.74

        Diluted earnings per share
         
        $
        2.06

        $
        1.22

        $
        0.73

 F-30

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

See Note 18, "Accounting for Stock Based Compensation," for information about the Company’s different equity incentive plans. 

Note 14 —Financial Instruments Derivative Financial InstrumentsThe Company is exposed to various market risks including, but not limited to, changes in foreign currency exchange rates, changes in interest rates and price fluctuations of certain material commodities such as copper. Market risks for changes in interest rates relate primarily to its debt obligations under the Second Amended and Restated Credit Agreement. Foreign currency exchange risks are attributable to sales to foreign customers and purchases from foreign suppliers not denominated in a location’s functional currency, foreign plant operations, intercompany indebtedness, intercompany investments and include exposures to the Euro, Mexican Peso, Canadian Dollar, Hungarian Forint, North Macedonian Denar, Ukrainian Hryvnia, Japanese Yen, Chinese Renminbi, Korean Won, Czech Koruna and Vietnamese Dong.The Company regularly enters into derivative contracts with the objective of managing its financial and operational exposure arising from these risks by offsetting