Segment Reporting

12 Months Ended

Dec. 31, 2021

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.

	2021		2020		2019
Revenue:
Automotive Products
United States	$	542,690,346	$	519,337,271	$	569,939,756
Germany	234,994,551		228,652,827		296,276,971
Japan	211,417,475		216,100,530		225,577,146
Mexico	111,761,245		127,157,684		160,967,900
Other Countries	596,324,417		556,949,831		557,775,114
Other	33,981,895		39,991,262		48,360,519
Total	$	1,731,169,929	$	1,688,189,405	$	1,858,897,406
Income (Loss) from Operations:
Automotive Products	$	414,185,075	$	393,979,860	$	473,546,112
Other	(4,403,097)		5,576,232		14,991,492
Total	$	409,781,978	$	399,556,092	$	488,537,604
Assets:
Automotive Products	$	1,495,298,453	$	1,436,374,596	$	1,463,030,286
Other	34,760,744		33,317,668		16,000,669
Corporate	601,331,969		728,248,906		689,772,238
Total	$	2,131,391,166	$	2,197,941,170	$	2,168,803,193
Depreciation & Amortization:
Automotive Products	$	92,516,347	$	97,530,191	$	97,520,972
Other	913,451		689,894		481,861
Corporate	5,682,221		6,519,815		6,700,141
Total	$	99,112,019	$	104,739,900	$	104,702,974
Capital Expenditures:
Automotive Products	$	58,415,887	$	34,926,686	$	63,537,512
Other	1,467,962		1,470,705		1,704,045
Corporate	8,951,198		15,309,150		19,338,698
Total	$	68,835,047	$	51,706,541	$	84,580,255

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

	2021		2020		2019
Automotive Products
Automotive Mirrors	$	1,563,424,443	$	1,520,628,604	$	1,638,600,272
HomeLink® Modules*	133,763,591		127,569,539		171,936,615
Total Automotive Products	$	1,697,188,034	$	1,648,198,143	$	1,810,536,887
Other Products Revenue	$	33,981,895	$	39,991,262	$	48,360,519
Total Revenue	$	1,731,169,929	$	1,688,189,405	$	1,858,897,406

*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, 2021, 2020 and 2019, approximately 8%, 7% and 7% of the Company’s net sales were invoiced and paid in foreign currencies, respectively.

In 2021, 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
2021	15%	13%	11%
2020	14%	14%	12%
2019	13%	14%	11%

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