Segment Reporting

12 Months Ended

Dec. 31, 2018

SEGMENT REPORTING

ASC 280, Segment Reporting, requires that a public enterprise report financial and descriptive information about its reportable operating segments subject to certain aggregation criteria and quantitative thresholds. Operating segments are defined by ASC 280 as components of an enterprise about which separate financial information is available that is evaluated regularly by the chief operating decision-makers in deciding how to allocate resources and in assessing performance.



	2018		2017		2016
Revenue:
Automotive Products
United States	$	583,672,971	$	567,492,812	$	554,945,912
Germany	333,002,878		351,123,204		328,208,190
Japan	209,311,790		185,261,067		154,005,299
Other Countries	665,210,657		654,250,385		602,532,841
Other	42,865,401		36,745,110		39,232,514
Total	$	1,834,063,697	$	1,794,872,578	$	1,678,924,756
Income (Loss) from Operations:
Automotive Products	$	495,471,799	$	512,895,699	$	497,753,966
Other	12,653,748		10,462,653		13,988,969
Total	$	508,125,547	$	523,358,352	$	511,742,935
Assets:
Automotive Products	$	1,449,910,935	$	1,472,061,650	$	1,457,989,335
Other	14,333,098		9,576,514		9,384,154
Corporate	621,190,035		870,415,748		842,246,344
Total	$	2,085,434,068	$	2,352,053,912	$	2,309,619,833
Depreciation & Amortization:
Automotive Products	$	97,279,052	$	95,378,100	$	86,567,248
Other	422,844		300,935		290,296
Corporate	4,484,918		3,891,873		1,729,886
Total	$	102,186,814	$	99,570,908	$	88,587,430
Capital Expenditures:
Automotive Products	$	84,337,455	$	82,703,576	$	99,811,083
Other	1,447,494		170,357		200,262
Corporate	205,621		21,166,986		20,944,269
Total	$	85,990,570	$	104,040,919	$	120,955,614

Other includes Dimmable Aircraft Windows and Fire Protection Products. Major product line revenues included within these segments are as follows:



	2018		2017		2016
Automotive Products
Automotive Mirrors	$	1,598,589,777	$	1,573,222,820	$	1,456,963,758
HomeLink^® Modules*	192,608,519		184,904,648		182,728,485
Total Automotive Products	$	1,791,198,296	$	1,758,127,468	$	1,639,692,243

Other Products Revenue	$	42,865,401	$	36,745,110	$	39,232,513

Total Revenue	$	1,834,063,697	$	1,794,872,578	$	1,678,924,756

*Excludes HomeLink^® revenue integrated into automotive mirrors.

Corporate assets are principally cash and cash equivalents, investments, deferred income taxes and corporate fixed assets. Depreciation & Amortization on corporate fixed assets are allocated to the Automotive and Other segments when reviewing operating results. Substantially all long-lived assets are located in the U.S.

Automotive Products revenues in the “Other countries” category are sales to customer automotive manufacturing plants in Korea, Mexico, Canada, Hungary, China, and the United Kingdom as well as other foreign automotive customers. Most of the Company’s non-U.S. sales are invoiced and paid in U.S. dollars. During the years ended December 31, 2018, 2017 and 2016, approximately 8%, 8% and 7% of the Company’s net sales were invoiced and paid in foreign currencies, respectively.

In 2018, the Company had three automotive customers (including direct sales to OEM customers and sales through their Tier 1 suppliers), which individually accounted for 10% or more of net sales as follows:



	Toyota Motor Company		Volkswagen Group		Ford Motor Company		Daimler Group
2018	13	%	15	%	#		10	%
2017	12	%	15	%	10	%	10	%
2016	11	%	14	%	11	%	#

# - Less than 10 percent.