Company: THRM
Filing Date: 2025-02-19
Form Type: 10-K
Source: 0000950170-25-023344
Chunk: 150

Company: Gentherm Inc
Filing Date: 2025-02-19
Form: 10-K
Item: Item 1B
Chunk 150
---
,

    2024

    2023

    2022

    Operating Activities:

    Net income
     
    $
    64,947

    $
    40,343

    $
    24,441

    Adjustments to reconcile net income to net cash provided by operating activities:

    Depreciation and amortization

    52,975

    50,948

    44,394

    Deferred income taxes

    10,580

    (13,072
    )

    (7,322
    )

    Stock based compensation

    10,432

    11,627

    6,599

    Provisions for inventory

    6,437

    6,867

    15,923

    Impairment of intangible assets and property and equipment

    2,501

    —

    6,291

    (Gain) loss on disposition of property and equipment

    (1,603
    )

    721

    771

    Impairment of goodwill

    —

    19,509

    —

    Other

    (1,156
    )

    2,920

    721

    Changes in assets and liabilities:

    Accounts receivable, net

    (12,077
    )

    (4,195
    )

    (44,221
    )

    Inventory

    (34,195
    )

    6,907

    (40,322
    )

    Other assets

    (44,696
    )

    (26,179
    )

    (11,906
    )

    Accounts payable

    16,222

    31,029

    28,314

    Other liabilities

    39,279

    (8,160
    )

    (8,736
    )

    Net cash provided by operating activities

    109,646

    119,265

    14,947

    Investing Activities:

    Purchases of property and equipment

    (73,314
    )

    (37,602
    )

    (39,703
    )

    Proceeds from the sale of property and equipment

    7,862

    391

    248

    Acquisition of businesses, net of cash acquired

    —

    —

    (205,487
    )

    Proceeds from deferred purchase