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Gentherm(THRM) - 2021 Q4 - Annual Report
2022-02-17 21:45
Washington, D.C. 20549 FORM 10-K (Mark One) ☒ Annual report pursuant to section 13 or 15(d) of the Securities Exchange Act of 1934 for the fiscal year ended December 31, 2021 or UNITED STATES SECURITIES AND EXCHANGE COMMISSION GENTHERM INCORPORATED (Exact name of registrant as specified in its charter) Michigan 95-4318554 (State or other jurisdiction of incorporation or organization) 21680 Haggerty Road, Northville, MI 48167 (I.R.S. Employer Identification No.) (Address of principal executive offices) (Zip ...
Gentherm(THRM) - 2021 Q3 - Quarterly Report
2021-10-29 19:15
UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 FORM 10-Q (Mark One) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended September 30, 2021 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to . Commission File Number: 0-21810 GENTHERM INCORPORATED (Exact name of registrant as specified in its charter) Michigan 95-4318554 (State or other juri ...
Gentherm(THRM) - 2021 Q2 - Quarterly Report
2021-07-30 17:56
UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 FORM 10-Q (Mark One) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended June 30, 2021 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to . Commission File Number: 0-21810 GENTHERM INCORPORATED (Exact name of registrant as specified in its charter) Michigan 95-4318554 (State or other jurisdict ...
Gentherm(THRM) - 2021 Q1 - Quarterly Report
2021-04-30 14:31
UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 FORM 10-Q (Mark One) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended March 31, 2021 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to . Commission File Number: 0-21810 GENTHERM INCORPORATED (Exact name of registrant as specified in its charter) Michigan 95-4318554 (State or other jurisdic ...
Gentherm(THRM) - 2020 Q4 - Annual Report
2021-03-01 21:39
UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-K (Mark One) ☒ Annual report pursuant to section 13 or 15(d) of the Securities Exchange Act of 1934 for the fiscal year ended December 31, 2020 or ☐ Transition report pursuant to section 13 or 15(d) of the Securities Exchange Act of 1934 for the transition period from to . Commission file number 0-21810 GENTHERM INCORPORATED (Exact name of registrant as specified in its charter) Michigan 95-4318554 (State or other jurisdiction o ...
Gentherm(THRM) - 2020 Q3 - Quarterly Report
2020-10-30 17:27
UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 FORM 10-Q (Mark One) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended September 30, 2020 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to . Commission File Number: 0-21810 GENTHERM INCORPORATED (Exact name of registrant as specified in its charter) Michigan 95-4318554 (State or other juri ...
Gentherm(THRM) - 2020 Q2 - Quarterly Report
2020-08-04 20:35
UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 FORM 10-Q (Mark One) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended June 30, 2020 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to . Commission File Number: 0-21810 GENTHERM INCORPORATED (Exact name of registrant as specified in its charter) Michigan 95-4318554 (State or other jurisdict ...
Gentherm(THRM) - 2020 Q1 - Quarterly Report
2020-05-07 21:08
UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 FORM 10-Q (Mark One) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended March 31, 2020 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to . Commission File Number: 0-21810 GENTHERM INCORPORATED (Exact name of registrant as specified in its charter) Michigan 95-4318554 (State or other jurisdic ...
Gentherm(THRM) - 2019 Q4 - Annual Report
2020-02-20 19:36
UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-K (Mark One) ☒ Annual report pursuant to section 13 or 15(d) of the Securities Exchange Act of 1934 for the fiscal year ended December 31, 2019 or ☐ Transition report pursuant to section 13 or 15(d) of the Securities Exchange Act of 1934 for the transition period from to . Commission file number 0-21810 GENTHERM INCORPORATED (Exact name of registrant as specified in its charter) Michigan 95-4318554 (State or other jurisdiction o ...
Gentherm(THRM) - 2019 Q3 - Quarterly Report
2019-10-29 23:50
Revenue Performance - Product revenues for Q3 2019 were $240.1 million, a decrease of $21.4 million or 8.2% compared to Q3 2018 revenues of $261.5 million[125]. - Automotive segment revenues decreased by $10.6 million or 4.4% to $228.2 million, primarily due to unfavorable foreign currency and automotive volumes[125][126]. - The industrial segment product revenues decreased by $10.8 million or 47.9% to $11.8 million, largely due to the absence of revenue from the sold CSZ-IC business[125][127]. - For the nine months ended September 30, 2019, total product revenues were $741.3 million, a decrease of $51.2 million or 6.5% compared to $792.5 million in the same period of 2018[137]. - Battery Thermal Management product revenues decreased by $51.2 million, or 6.5%, to $741.3 million in YTD 2019 compared to $792.5 million in YTD 2018[138]. - Automotive segment revenues fell by $24.1 million, or 3.3%, to $700.3 million, primarily due to unfavorable foreign currency impacts of $16.7 million[139]. Cost and Expenses - Cost of sales decreased by $20.4 million or 11.0% to $165.4 million in Q3 2019, attributed to the sale of CSZ-IC and operational performance improvements[128]. - Cost of sales decreased by $39.9 million, or 7.1%, to $518.6 million in YTD 2019, attributed to the sale of CSZ-IC and operational improvements[141]. - Net research and development expenses were $18.8 million in Q3 2019, a slight decrease of $0.3 million or 1.1% from $19.1 million in Q3 2018[130]. - Net research and development expenses were $57.0 million in YTD 2019, a decrease of $6.4 million, or 10.1%, from $63.4 million in YTD 2018[143]. - Selling, general and administrative expenses decreased by $8.2 million or 23.4% to $26.9 million in Q3 2019, primarily due to the sale of CSZ-IC and lower incentive compensation costs[132]. - Selling, general and administrative expenses decreased by $14.1 million, or 13.3%, to $91.7 million in YTD 2019[144]. Restructuring and Impairment - The company recognized $8.7 million in restructuring expenses during Q3 2019, mainly related to the Manufacturing Footprint Rationalization program[133]. - Total expected costs for the Manufacturing Footprint Rationalization plan are estimated between $20.0 million and $24.0 million, with cash expenditures expected between $17.0 million and $21.0 million[122]. - The company recorded an impairment loss of $21.2 million related to plans to divest GPT, which is not expected to be tax-deductible[148]. Cash Flow and Financing - Cash provided by operating activities increased by $13.5 million to $84.0 million in YTD 2019 from $70.5 million in YTD 2018[153]. - Cash used in financing activities totaled $86.2 million in YTD 2019, including $69.0 million in principal payments on loans and $58.0 million for common stock repurchases[157]. - Working capital decreased to $214.3 million as of September 30, 2019, down from $267.7 million at the end of 2018[155]. Foreign Currency and Market Risks - The company is exposed to foreign currency exchange risks from sales and purchases not denominated in the functional currency, with significant exposure to currencies such as the Euro, Mexican Peso, and Japanese Yen[161]. - The company had foreign currency derivative contracts with a notional value of $25.2 million as of September 30, 2019, compared to $33.3 million at December 31, 2018, reflecting a reduction in hedging activity[162]. - The average contract rate for forward exchange agreements to receive Mexican Pesos and pay U.S. Dollars is approximately 20.83 as of September 30, 2019, with a total contract amount of $25.21 million[171]. - The company does not engage in derivative financial instruments for speculative purposes, focusing instead on hedging to manage financial and operational risks[164]. - The maximum duration for hedging foreign currency exchange risks is one year, while for commodity price fluctuations, it is two years[163]. - The company’s exposure to market risks includes changes in interest rates and price fluctuations of commodities like copper[161]. Debt and Taxation - The company’s long-term debt includes variable rate debt of $70 million at an interest rate of 3.29% and fixed rate debt of $10 million at an interest rate of 5.21%[168]. - The effective tax rate for Q3 2019 was 28.8%, higher than the Federal statutory rate of 21%, primarily due to higher statutory rates for subsidiaries operating in foreign jurisdictions[135].