Segment Reporting

12 Months Ended

Dec. 31, 2020

Segment Reporting [Abstract]

Segment Reporting

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.

	2020		2019		2018
Revenue:
Automotive Products
United States	$	519,337,271	$	569,939,756	$	583,672,971
Germany	228,652,827		296,276,971		333,002,878
Japan	216,100,530		225,577,146		209,311,790
Mexico	127,157,684		160,967,900		106,111,515
Other Countries	556,949,831		557,775,114		559,099,142
Other	39,991,262		48,360,519		42,865,401
Total	$	1,688,189,405	$	1,858,897,406	$	1,834,063,697
Income (Loss) from Operations:
Automotive Products	$	393,979,860	$	473,546,112	$	495,471,799
Other	5,576,232		14,991,492		12,653,748
Total	$	399,556,092	$	488,537,604	$	508,125,547
Assets:
Automotive Products	$	1,436,374,596	$	1,463,030,286	$	1,449,910,935
Other	33,317,668		16,000,669		14,333,098
Corporate	728,248,906		689,772,238		621,190,035
Total	$	2,197,941,170	$	2,168,803,193	$	2,085,434,068
Depreciation & Amortization:
Automotive Products	$	97,530,191	$	97,520,972	$	97,279,052
Other	689,894		481,861		422,844
Corporate	6,519,815		6,700,141		4,484,918
Total	$	104,739,900	$	104,702,974	$	102,186,814
Capital Expenditures:
Automotive Products	$	34,926,686	$	63,537,512	$	84,337,455
Other	1,470,705		1,704,045		1,447,494
Corporate	15,309,150		19,338,698		205,621
Total	$	51,706,541	$	84,580,255	$	85,990,570

Other includes Dimmable Aircraft Windows, Fire Protection Products, and Nanofiber. Major product line revenues included within the Automotive Products segment are as follows:

	2020		2019		2018
Automotive Products
Automotive Mirrors	$	1,520,628,604	$	1,638,600,272	$	1,598,589,777
HomeLink® Modules*	127,569,539		171,936,615		192,608,519
Total Automotive Products	$	1,648,198,143	$	1,810,536,887	$	1,791,198,296
Other Products Revenue	$	39,991,262	$	48,360,519	$	42,865,401
Total Revenue	$	1,688,189,405	$	1,858,897,406	$	1,834,063,697

*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, 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, 2020, 2019 and 2018, approximately 7%, 7% and 8% of the Company’s net sales were invoiced and paid in foreign currencies, respectively.

In 2020, 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
2020	14%	14%	12%	#
2019	13%	14%	11%	#
2018	13%	15%	#	10%

# - Less than 10 percent.