SEGMENT REPORTING

12 Months Ended

Dec. 31, 2023

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.

	2023		2022		2021
Revenue:
Automotive Products
United States	$	688,164,335	$	579,531,611	$	542,690,346
Germany	294,529,611		266,498,398		234,994,551
Japan	323,872,022		234,888,653		211,417,475
Mexico	142,082,011		121,553,711		111,761,245
Republic of Korea	149,554,788		95,395,479		67,219,836
Other Countries	656,457,524		576,874,606		529,104,581
Other	44,554,753		44,215,585		33,981,895
Total	$	2,299,215,044	$	1,918,958,043	$	1,731,169,929
Income (Loss) from Operations:
Automotive Products	$	495,650,700	$	372,490,748	$	414,185,075
Other	80,353		(2,484,622)		(4,403,097)
Total	$	495,731,053	$	370,006,126	$	409,781,978
Assets:
Automotive Products	$	1,782,342,705	$	1,670,634,277	$	1,495,298,453
Other	85,610,250		43,025,905		34,760,744
Corporate	743,484,597		613,569,742		601,331,969
Total	$	2,611,437,552	$	2,327,229,924	$	2,131,391,166
Depreciation & Amortization:
Automotive Products	$	87,123,055	$	90,030,087	$	92,516,347
Other	1,231,061		1,056,510		913,451
Corporate	4,967,076		5,481,846		5,682,221
Total	$	93,321,192	$	96,568,443	$	99,112,019
Capital Expenditures:
Automotive Products	$	163,070,404	$	141,166,506	$	58,415,887
Other	3,827,880		2,356,910		1,467,962
Corporate	16,780,176		2,909,707		8,951,198
Total	$	183,678,460	$	146,433,123	$	68,835,047

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

	2023		2022		2021
Automotive Products
Automotive Mirrors	$	2,128,473,563	$	1,742,196,401	$	1,563,424,443
HomeLink® Modules*	126,186,728		132,546,057		133,763,591
Total Automotive Products	$	2,254,660,291	$	1,874,742,458	$	1,697,188,034
Other Products Revenue	$	44,554,753	$	44,215,585	$	33,981,895
Total Revenue	$	2,299,215,044	$	1,918,958,043	$	1,731,169,929

*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, 2023, 2022 and 2021, approximately 8%, 7% and 8% of the Company’s net sales were invoiced and paid in foreign currencies, respectively.

In 2023, 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
2023	18%	14%	10%
2022	16%	13%	10%
2021	15%	13%	11%

.