Company: THRM
Filing Date: 2025-02-19
Form Type: 10-K
Source: 0000950170-25-023344
Chunk: 30

Company: Gentherm Inc
Filing Date: 2025-02-19
Form: 10-K
Item: Item 16
Chunk 30
---
209

    Other non-current liabilities

    29,183

    23,095

    Total liabilities
     
    $
    630,609

    $
    589,649

    Shareholders’ equity:

    Common Stock:

    No par value; 55,000,000 shares authorized 30,788,639 and 31,542,001 issued and outstanding at December 31, 2024 and December 31, 2023, respectively

    2,049

    50,503

    Paid-in capital

    4,290

    —

    Accumulated other comprehensive loss

    (85,193
    )

    (30,160
    )

    Accumulated earnings

    695,801

    624,379

    Total shareholders’ equity

    616,947

    644,722

    Total liabilities and shareholders’ equity
     
    $
    1,247,556

    $
    1,234,371

The accompanying notes are an integral part of these consolidated financial statements 

 F-5

GENTHERM INCORPORATED 

CONSOLIDATED STATEMENTS OF INCOME 

(In thousands, except per share data) 

    Year Ended December 31,

    2024

    2023

    2022

    Product revenues
     
    $
    1,456,124

    $
    1,469,076

    $
    1,204,656

    Cost of sales

    1,089,693

    1,117,452

    931,006

    Gross margin

    366,431

    351,624

    273,650

    Operating expenses:

    Net research and development expenses

    88,697

    94,358

    85,722

    Selling, general and administrative expenses

    155,108

    155,579

    132,693

    Restructuring expenses, net

    13,110

    4,739

    637

    Impairment of intangible assets and property and equipment

    2,501

    —

    6,291

    Impairment of goodwill

    —

    19,509

    —

    Total operating expenses

    259,416

    274,185