Segment Reporting

12 Months Ended

Dec. 31, 2019

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.



	2019		2018		2017
Revenue:
Automotive Products
United States	$	569,939,756	$	583,672,971	$	567,492,812
Germany	296,276,971		333,002,878		351,123,204
Japan	225,577,146		209,311,790		185,261,067
Mexico	160,967,900		106,111,515		93,603,796
Other Countries	557,775,114		559,099,142		560,646,589
Other	48,360,519		42,865,401		36,745,110
Total	$	1,858,897,406	$	1,834,063,697	$	1,794,872,578
Income (Loss) from Operations:
Automotive Products	$	473,546,112	$	495,471,799	$	512,895,699
Other	14,991,492		12,653,748		10,462,653
Total	$	488,537,604	$	508,125,547	$	523,358,352
Assets:
Automotive Products	$	1,463,030,286	$	1,449,910,935	$	1,472,061,650
Other	16,000,669		14,333,098		9,576,514
Corporate	689,772,238		621,190,035		870,415,748
Total	$	2,168,803,193	$	2,085,434,068	$	2,352,053,912
Depreciation & Amortization:
Automotive Products	$	97,520,972	$	97,279,052	$	95,378,100
Other	481,861		422,844		300,935
Corporate	6,700,141		4,484,918		3,891,873
Total	$	104,702,974	$	102,186,814	$	99,570,908
Capital Expenditures:
Automotive Products	$	63,537,512	$	84,337,455	$	82,703,576
Other	1,704,045		1,447,494		170,357
Corporate	19,338,698		205,621		21,166,986
Total	$	84,580,255	$	85,990,570	$	104,040,919

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



	2019		2018		2017
Automotive Products
Automotive Mirrors	$	1,638,600,272	$	1,598,589,777	$	1,573,222,820
HomeLink^® Modules*	171,936,615		192,608,519		184,904,648
Total Automotive Products	$	1,810,536,887	$	1,791,198,296	$	1,758,127,468

Other Products Revenue	$	48,360,519	$	42,865,401	$	36,745,110

Total Revenue	$	1,858,897,406	$	1,834,063,697	$	1,794,872,578

*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 as appropriate 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, 2019, 2018 and 2017, approximately 7%, 8% and 8% of the Company’s net sales were invoiced and paid in foreign currencies, respectively.

In 2019, 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		General Motors		Daimler Group		Ford Motor Company
2019	13	%	14	%	11	%	#		#
2018	13	%	15	%	#		10	%	#
2017	12	%	15	%	#		10	%	10	%

# - Less than 10 percent.