Segment Reporting

12 Months Ended

Dec. 31, 2022

Segment Reporting [Abstract]

Segment Reporting

SEGMENT REPORTINGASC 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.

	2022		2021		2020
Revenue:
Automotive Products
United States	$	579,531,611	$	542,690,346	$	519,337,271
Germany	266,498,398		234,994,551		228,652,827
Japan	234,888,653		211,417,475		216,100,530
Mexico	121,553,711		111,761,245		127,157,684
Other Countries	672,270,085		596,324,417		556,949,831
Other	44,215,585		33,981,895		39,991,262
Total	$	1,918,958,043	$	1,731,169,929	$	1,688,189,405
Income (Loss) from Operations:
Automotive Products	$	372,490,748	$	414,185,075	$	393,979,860
Other	(2,484,622)		(4,403,097)		5,576,232
Total	$	370,006,126	$	409,781,978	$	399,556,092
Assets:
Automotive Products	$	1,670,634,277	$	1,495,298,453	$	1,436,374,596
Other	43,025,905		34,760,744		33,317,668
Corporate	613,569,742		601,331,969		728,248,906
Total	$	2,327,229,924	$	2,131,391,166	$	2,197,941,170
Depreciation & Amortization:
Automotive Products	$	90,030,087	$	92,516,347	$	97,530,191
Other	1,056,510		913,451		689,894
Corporate	5,481,846		5,682,221		6,519,815
Total	$	96,568,443	$	99,112,019	$	104,739,900
Capital Expenditures:
Automotive Products	$	141,166,506	$	58,415,887	$	34,926,686
Other	2,356,910		1,467,962		1,470,705
Corporate	2,909,707		8,951,198		15,309,150
Total	$	146,433,123	$	68,835,047	$	51,706,541

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

	2022		2021		2020
Automotive Products
Automotive Mirrors	$	1,742,196,401	$	1,563,424,443	$	1,520,628,604
HomeLink® Modules*	132,546,057		133,763,591		127,569,539
Total Automotive Products	$	1,874,742,458	$	1,697,188,034	$	1,648,198,143
Other Products Revenue	$	44,215,585	$	33,981,895	$	39,991,262
Total Revenue	$	1,918,958,043	$	1,731,169,929	$	1,688,189,405

*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, 2022, 2021 and 2020, approximately 7%, 8% and 7% of the Company’s net sales were invoiced and paid in foreign currencies, respectively.

In 2022, the Company had three automotive customers (including direct sales to original equipment manufacturer ("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
2022	16%	13%	10%
2021	15%	13%	11%
2020	14%	14%	12%

.