Segment Reporting

9 Months Ended

Sep. 30, 2021

Segment Reporting [Abstract]

Segment Reporting

Segment Reporting

Operating segments are defined as components of an enterprise that are evaluated regularly by the Company’s chief operating decision maker (“CODM”), which is our President and Chief Executive Officer. Each of these segments consists of a number of manufacturing facilities. Certain of our facilities manufacture and sell products through both of our segments. Each manufacturing facility that sells products through both segments is reflected in the financial results of the segment that has the greatest amount of revenues from that manufacturing facility. Our segments are more specifically described below.

The Electrical Systems segment designs, manufactures and sells the following products:

•Electrical systems, electrical wire harnesses, electro-mechanical assemblies for warehouses, electro-mechanical cable assemblies for the construction, agricultural, industrial, automotive, truck, mining, rail and military industries in North America, Europe and Asia-Pacific. This segment includes a portion of the company’s activities in the emerging electric vehicle market;

•Plastic components ("Trim") primarily for the North America commercial vehicle market and recreational vehicle markets;

•Warehouse automation subsystems primarily for the North American e-commerce markets and include electro-mechanical assemblies and panels;

•Commercial vehicle accessories including OE and aftermarket wipers, mirrors, floormats and sensors; and

•Cab structures for the North American MD/HD truck market.

The Global Seating segment designs, manufactures and sells the following products:

•Commercial vehicle seats for the global commercial vehicle markets including heavy duty trucks, medium duty trucks, last mile trucks, construction equipment, material handling equipment and agriculture equipment in North America, Europe and Asia-Pacific. This segment includes a portion of the company’s activities in the emerging electric vehicle market;

•Office seats primarily in Europe and Asia-Pacific; and

•Aftermarket seats and components in North America, Europe and Asia-Pacific.

Corporate expenses consist of certain overhead and shared costs that are not directly attributable to the operations of a segment. For purposes of business segment performance measurement, some of these costs that are for the benefit of the operations are allocated based on a combination of methodologies.

The following table presents segment results for the three and nine months ended September 30, 2021 and 2020.

	Three Months Ended September 30, 2021
	Electrical Systems		Global Seating		Corporate/ Other		Total
Revenues
External revenues	$	163,134	$	76,476	$	—	$	239,610
Intersegment revenues	978		14		(992)		—
Total revenues	$	164,112	$	76,490	$	(992)	$	239,610
Gross profit	$	23,662	$	6,484	$	(2)	$	30,144
Selling, general & administrative expenses	5,878		6,061		6,833		18,772
Operating income (loss)	$	17,784	$	423	$	(6,835)	$	11,372

	Three Months Ended September 30, 2020
	Electrical Systems		Global Seating		Corporate/ Other		Total
Revenues
External revenues	$	120,723	$	66,974	$	—	$	187,697
Intersegment revenues	344		1,928		(2,272)		—
Total revenues	$	121,067	$	68,902	$	(2,272)	$	187,697
Gross profit	$	16,118	$	8,418	$	(377)	$	24,159
Selling, general & administrative expenses	3,895		3,646		7,725		15,266
Operating income (loss)	$	12,223	$	4,772	$	(8,102)	$	8,893

	Nine Months Ended September 30, 2021
	Electrical System		Global Seating		Corporate/ Other		Total
Revenues
External revenues	$	496,926	$	245,747	$	—	$	742,673
Intersegment revenues	4,532		6,735		(11,267)		—
Total revenues	$	501,458	$	252,482	$	(11,267)	$	742,673
Gross profit	$	67,710	$	27,966	$	(43)	$	95,633
Selling, general & administrative expenses	16,505		17,016		19,008		52,529
Operating income (loss)	$	51,205	$	10,950	$	(19,051)	$	43,104

	Nine Months Ended September 30, 2020
	Electrical		Global Seating		Corporate/ Other		Total
Revenues
External revenues	$	305,389	$	196,309	$	—	$	501,698
Intersegment revenues	1,987		2,435		(4,422)		—
Total revenues	$	307,376	$	198,744	$	(4,422)	$	501,698
Gross profit	$	28,208	$	23,133	$	(404)	$	50,937
Selling, general & administrative expenses	15,884		12,379		21,803		50,066
Goodwill and other impairment	23,415		4,809		793		29,017
Operating income (loss)	$	(11,091)	$	5,945	$	(23,000)	$	(28,146)