Horizon Global (HZN) 10-Q 18 May 20 2020 Q1 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - shares	3 Months Ended
	Mar. 31, 2020	May 12, 2020
Document and Entity Information [Abstract]
Entity Registrant Name	HORIZON GLOBAL CORP
Entity Central Index Key	0001637655
Current Fiscal Year End Date	--12-31
Entity Filer Category	Accelerated Filer
Document Type	10-Q
Document Period End Date	Mar. 31, 2020
Document Fiscal Year Focus	2020
Document Fiscal Period Focus	Q1
Amendment Flag	false
Entity Current Reporting Status	Yes
Smaller Reporting Company	true
Emerging Growth Company	true
Transition Period	true
Entity Shell Company	false
Entity Common Stock, Shares Outstanding		25,472,634

Condensed Consolidated Balance

Condensed Consolidated Balance Sheets - USD ($) $ in Thousands	Mar. 31, 2020	Dec. 31, 2019
Current assets:
Cash and cash equivalents	$ 38,670	$ 11,770
Restricted cash	8,740	0
Receivables, net	84,900	71,680
Inventories	119,370	136,650
Prepaid expenses and other current assets	8,220	8,570
Total current assets	259,900	228,670
Property and equipment, net	74,100	75,830
Operating lease right-of-use assets	41,870	45,770
Goodwill	3,360	4,350
Other intangibles, net	57,420	60,120
Deferred income taxes	450	430
Other assets	8,660	5,870
Total assets	445,760	421,040
Current liabilities:
Short-term borrowings and current maturities, long-term debt	61,220	4,310
Accounts payable	83,380	78,450
Short-term operating lease liabilities	9,980	9,880
Accrued liabilities	50,080	48,850
Total current liabilities	204,660	141,490
Gross long-term debt	216,880	236,550
Unamortized debt issuance costs and discount	(28,500)	(31,500)
Long-term debt	188,380	205,050
Deferred income taxes	3,990	4,040
Long-term operating lease liabilities	45,570	48,070
Other long-term liabilities	15,570	13,790
Total liabilities	458,170	412,440
Contingencies (See Note 13)
Preferred stock, $0.01 par: Authorized 100,000,000 shares; Issued and outstanding: None	0	0
Common stock, $0.01 par: Authorized 400,000,000 shares; 26,115,238 shares issued and 25,428,732 outstanding at March 31, 2020, and 26,073,894 shares issued and 25,387,388 outstanding at December 31, 2019	250	250
Common stock warrants exercisable for 6,487,674 shares issued and outstanding at March 31, 2020 and December 31, 2019	10,610	10,610
Paid-in capital	163,600	163,240
Treasury stock, at cost: 686,506 shares at March 31, 2020 and December 31, 2019	(10,000)	(10,000)
Accumulated deficit	(158,710)	(141,970)
Accumulated other comprehensive loss	(14,130)	(9,790)
Total Horizon Global shareholders' (deficit) equity	(8,380)	12,340
Noncontrolling interest	(4,030)	(3,740)
Total shareholders' (deficit) equity	(12,410)	8,600
Total liabilities and shareholders' equity	$ 445,760	$ 421,040

Condensed Consolidated Balanc_2

Condensed Consolidated Balance Sheets (Parenthetical) - $ / shares	Mar. 31, 2020	Dec. 31, 2019
Preferred stock, par value (in dollars per share)	$ 0.01	$ 0.01
Preferred stock, authorized shares (in shares)	100,000,000	100,000,000
Preferred stock, issued shares (in shares)	0	0
Preferred stock, outstanding shares (in shares)	0	0
Common stock, par value (in dollars per share)	$ 0.01	$ 0.01
Common Stock, authorized shares (in shares)	400,000,000	400,000,000
Common Stock, issued shares (in shares)	26,115,238	26,073,894
Common Stock, outstanding shares (in shares)	25,428,732	25,387,388
Treasury stock, shares (in shares)	686,506	686,506
Common Stock Warrants
Common Stock, issued shares (in shares)	6,487,674	6,487,674
Common Stock, outstanding shares (in shares)	6,487,674	6,487,674

Condensed Consolidated Statemen

Condensed Consolidated Statements of Operations - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2020	Mar. 31, 2019
Income Statement [Abstract]
Net sales	$ 163,250	$ 177,670
Cost of sales	(137,000)	(154,110)
Gross profit	26,250	23,560
Selling, general and administrative expenses	(32,860)	(38,370)
Net (loss) gain on dispositions of property and equipment	(70)	1,440
Operating loss	(6,680)	(13,370)
Other expense, net	(1,670)	(5,470)
Interest expense	(8,190)	(10,830)
Loss from continuing operations before income tax	(16,540)	(29,670)
Income tax benefit	10	270
Net loss from continuing operations	(16,530)	(29,400)
(Loss) income from discontinued operations, net of tax	(500)	3,780
Net loss	(17,030)	(25,620)
Less: Net loss attributable to noncontrolling interest	(290)	(520)
Net loss attributable to Horizon Global	$ (16,740)	$ (25,100)
Basic:
Continuing operations (in dollars per share)	$ (0.64)	$ (1.15)
Discontinued operations (in dollars per share)	(0.02)	0.15
Total	(0.66)	(1)
Diluted:
Continuing operations (in dollars per share)	(0.64)	(1.15)
Discontinued operations (in dollars per share)	(0.02)	0.15
Total	$ (0.66)	$ (1)
Weighted average common shares outstanding:
Basic (in shares)	25,393,668	25,188,094
Diluted (in shares)	25,393,668	25,188,094

Condensed Consolidated Statem_2

Condensed Consolidated Statements of Comprehensive Loss - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2020	Mar. 31, 2019
Statement of Comprehensive Income [Abstract]
Net loss	$ (17,030)	$ (25,620)
Other comprehensive (loss) income, net of tax:
Foreign currency translation and other	(4,340)	1,210
Derivative instruments	0	(1,070)
Total other comprehensive (loss) income, net of tax	(4,340)	140
Total comprehensive loss	(21,370)	(25,480)
Less: Comprehensive loss attributable to noncontrolling interest	(290)	(520)
Comprehensive loss attributable to Horizon Global	$ (21,080)	$ (24,960)

Condensed Consolidated Statem_3

Condensed Consolidated Statements of Cash Flows - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2020	Mar. 31, 2019
Cash Flows from Operating Activities:
Net loss	$ (17,030)	$ (25,620)
Less: (Loss) income from discontinued operations	(500)	3,780
Net loss from continuing operations	(16,530)	(29,400)
Adjustments to reconcile net loss from continuing operations to net cash provided by (used for) operating activities:
Net loss (gain) on dispositions of property and equipment	70	(1,440)
Depreciation	3,490	3,310
Amortization of intangible assets	1,570	1,900
Amortization of original issuance discount and debt issuance costs	4,400	5,470
Deferred income taxes	(40)	1,710
Non-cash compensation expense	420	350
Paid-in-kind interest	1,570	0
Increase in receivables	(15,610)	(19,200)
Decrease (increase) in inventories	15,350	(6,970)
Increase in prepaid expenses and other assets	(2,060)	(2,700)
Increase in accounts payable and accrued liabilities	11,550	10,180
Other, net	1,530	(12,770)
Net cash provided by (used for) operating activities for continuing operations	5,710	(49,560)
Cash Flows from Investing Activities:
Capital expenditures	4,060	1,550
Net proceeds from sale of business	0	(4,970)
Net proceeds from disposition of property and equipment	70	1,390
Net cash (used for) provided by investing activities for continuing operations	(3,990)	4,810
Cash Flows from Financing Activities:
Proceeds from borrowings on credit facilities	580	13,230
Repayments of borrowings on credit facilities	(630)	(830)
Proceeds from Second Lien Term Loan, net of issuance costs	0	35,520
Repayments of borrowings on First Lien Term Loan, inclusive of transaction costs	0	(7,480)
Proceeds from ABL revolving debt, net of issuance costs	54,680	0
Proceeds from ABL revolving debt, net of issuance costs	8,000	27,340
Repayments of borrowings on ABL revolving debt	(27,920)	(45,260)
Proceeds from issuance of Series A Preferred Stock	0	5,340
Proceeds from issuance of Warrants	0	5,380
Other, net	(60)	(10)
Net cash provided by financing activities for continuing operations	34,650	33,230
Discontinued Operations:
Net cash used for discontinued investing activities	(500)	9,120
Net cash used for discontinued investing activities	0	(440)
Net cash provided by discontinued financing activities	0	0
Net cash (used for) provided by discontinued operations	(500)	8,680
Effect of exchange rate changes on cash, cash equivalents and restricted cash	(230)	150
Increase (decrease) for the period	35,640	(2,690)
At beginning of period	11,770	27,650
At end of period	47,410	24,960
Supplemental disclosure of cash flow information:
Cash paid for interest	3,150	6,620
Cash paid for taxes, net of refunds	$ 200	$ 30

Condensed Consolidated Statem_4

Condensed Consolidated Statements of Shareholders' Equity - USD ($) $ in Thousands	Total	Common Stock	Common Stock Warrants	Paid-in Capital	Treasury Stock	Accumulated Deficit	Accumulated Other Comprehensive Income (Loss)	Total Horizon Global Shareholders' Equity (Deficit)	Noncontrolling Interest
Beginning balance at Dec. 31, 2018	$ (66,220)	$ 250	$ 0	$ 160,990	$ (10,000)	$ (222,720)	$ 7,760	$ (63,720)	$ (2,500)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net loss	(25,620)					(25,100)		(25,100)	(520)
Other comprehensive income (loss), net of tax	140						140	140
Shares surrendered upon vesting of employees share based payment awards to cover tax obligations	(10)			(10)				(10)
Non-cash compensation expense	350			350				350
Issuance of Warrants	5,380		5,380					5,380
Ending balance at Mar. 31, 2019	(85,980)	250	5,380	161,330	(10,000)	(247,820)	7,900	(82,960)	(3,020)
Beginning balance at Dec. 31, 2019	8,600	250	10,610	163,240	(10,000)	(141,970)	(9,790)	12,340	(3,740)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net loss	(17,030)					(16,740)		(16,740)	(290)
Other comprehensive income (loss), net of tax	(4,340)						(4,340)	(4,340)
Shares surrendered upon vesting of employees share based payment awards to cover tax obligations	(60)			(60)				(60)
Non-cash compensation expense	420			420				420
Ending balance at Mar. 31, 2020	$ (12,410)	$ 250	$ 10,610	$ 163,600	$ (10,000)	$ (158,710)	$ (14,130)	$ (8,380)	$ (4,030)

Nature of Operations and Basis

Nature of Operations and Basis of Presentation	3 Months Ended
	Mar. 31, 2020
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Nature of Operations and Basis of Presentation	Horizon Global Corporation and its consolidated subsidiaries (“Horizon,” “Horizon Global,” “we,” or the “Company”) are a global designer, manufacturer and distributor of a wide variety of high quality, custom-engineered towing, trailering, cargo management and other related accessories. These products are designed to support original equipment manufacturers (“OEMs”) and original equipment servicers (“OESs”) (collectively, “OEs”), aftermarket and retail customers within the agricultural, automotive, construction, horse/livestock, industrial, marine, military, recreational, trailer and utility markets. The Company groups its business into operating segments by the region in which sales and manufacturing efforts are focused. As a result of the Company’s sale of its Horizon Asia-Pacific operating segment (“APAC”) in 2019, the Company’s operating segments are Horizon Americas and Horizon Europe-Africa . See Note 17 , Segment Information , for further information on each of the Company’s operating segments. Historical information has been retrospectively adjusted to reflect the classification of APAC as discontinued operations. Discontinued operations are further discussed in Note 3 , Discontinued Operations . The accompanying unaudited condensed consolidated financial statements have been prepared pursuant to the rules and regulations of the US Securities and Exchange Commission (the “SEC”) for interim financial information and should be read in conjunction with the consolidated financial statements and notes thereto included in the Company’s Annual Report on Form 10-K for the year ended December 31, 2019 . Accordingly, they do not include all of the information and footnotes required by accounting principles generally accepted in the United States (“US GAAP”) for complete financial statements. It is management’s opinion that these financial statements contain all adjustments, including adjustments of a normal and recurring nature, necessary for a fair presentation of financial position and results of operations. Results of operations for interim periods are not necessarily indicative of results for the full year. US GAAP requires us to make certain estimates, judgments, and assumptions. Management believes that the estimates, judgments, and assumptions made when accounting for items and matters such as, but not limited to, the allowance for doubtful accounts, sales incentives, sales returns, impairment assessments, recoverability of long-lived assets, income taxes (including deferred taxes and uncertain tax positions), share-based compensation, the assessment of lower of cost or net realizable value on inventory, useful lives assigned to long-lived assets, and depreciation and amortization, are reasonable based on information available at the time they are made. The full impact of the coronavirus (“COVID-19”) pandemic is unknown and cannot be reasonably estimated. However, we have made appropriate accounting estimates based on the facts and circumstances available as of the reporting date. To the extent there are differences between these estimates and actual results, our consolidated financial statements may be materially affected. Liquidity Matters The Revolving Credit Facility, as defined below, matures on March 31, 2021, and as of March 31, 2020, had an outstanding balance of $57.0 million . The Company does not currently have sufficient cash, liquidity or projected future cash flows to repay the Revolving Credit Facility at maturity. The Company’s inability to repay its debt obligations as they become due, would result in an event of default. Such default, if not cured, would allow the lenders to accelerate the maturity of the debt, making it due and payable at that time, which would result in a cross default of our other debt obligations. The Company has undertaken discussions with its lenders about amending, extending or refinancing its credit agreements, including the Revolving Credit Facility, or accessing additional liquidity, prior to the first quarter of 2021 when the Revolving Credit Facility becomes due. The Company has a history of successfully amending and extending credit agreements with its current lenders and believes it is probable such amendments, extensions or refinancing will be completed.

New Accounting Pronouncements

New Accounting Pronouncements	3 Months Ended
	Mar. 31, 2020
New Accounting Pronouncements and Changes in Accounting Principles [Abstract]
New Accounting Pronouncements	New Accounting Pronouncements New accounting pronouncements not yet adopted In March 2020, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update (“ASU”) 2020-04, “Reference Rate Reform (Topic 848): Facilitation of the Effects of Reference Rate Reform on Financial Reporting” (“ASU 2020-04”). ASU 2020-04 provides temporary optional guidance to ease the potential burden in accounting for (or recognizing the effects of) reference rate reform on financial reporting. The relief provided by this guidance is elective and applies to all entities, subject to meeting certain criteria, that have contracts, hedging relationships, and other transactions that reference the London Interbank Offered Rate (“LIBOR”) or another reference rate expected to be discontinued because of reference rate reform initiatives being undertaken in an effort to identify alternative reference rates that are more observable or transaction based and less susceptible to manipulation. The optional amendments of this guidance are effective for all entities upon adoption . We are currently assessing the impact of this update on the Company’s condensed consolidated financial statements. In June 2016, the FASB issued ASU 2016-13, “Financial Instruments - Credit Losses (Topic 326): Measurement of Credit Losses on Financial Instruments” (“ASU 2016-13”). ASU 2016-13 replaces the current incurred loss model guidance with a new method that reflects expected credit losses. Under this guidance, an entity would recognize an impairment allowance equal to its estimate of expected credit losses on financial assets measured at amortized cost. In November 2019, the FASB extended the effective date of ASU 2016-13 for smaller reporting companies. As a result, ASU 2016-13 is effective for fiscal years, and interim periods within those years, beginning after December 15, 2022, with early adoption permitted. The standard is not expected to have a significant impact on the Company's condensed consolidated financial statements.

Discontinued Operations

Discontinued Operations	3 Months Ended
	Mar. 31, 2020
Discontinued Operations and Disposal Groups [Abstract]
Discontinued Operations	Discontinued Operations On September 19, 2019, the Company completed the sale of its subsidiaries that comprised APAC to Hayman Pacific BidCo Pty Ltd., an affiliate of Pacific Equity Partners, for $209.6 million in net cash proceeds after payment of transaction costs, in a net debt free sale. The sale resulted in the recognition of a gain of $180.5 million , of which $17.3 million was related to the cumulative translation adjustment that was reclassified to earnings, which is reflected within the income from discontinued operations, net of income taxes line of the consolidated statement of operations for the year ended December 31, 2019, refer to Note 4, Discontinued Operations, in our Annual Report on Form 10-K for the year ended December 31, 2019 . In the first quarter of 2020, the remaining post-closing conditions of the sale were completed, including a true up to net cash proceeds, for which we recognized a loss on sale of discontinued operations of $0.5 million for the three months ended March 31, 2020. The following table presents the Company’s results from discontinued operations for the three months ended March 31, 2019: Three Months Ended March 31, 2019 (dollars in thousands) Net sales $ 32,010 Cost of sales (23,490 ) Selling, general and administrative expenses (3,160 ) Net gain on dispositions of property and equipment 10 Other expense, net (140 ) Interest expense (100 ) Income before income tax expense 5,130 Income tax expense (1,350 ) Income from discontinued operations, net of tax $ 3,780

Revenues

Revenues	3 Months Ended
	Mar. 31, 2020
Revenue from Contract with Customer [Abstract]
Revenues	Revenues Revenue Recognition The Company disaggregates revenue from contracts with customers by major sales channel. The Company determined that disaggregating revenue into these categories best depicts how the nature, amount, timing, and uncertainty of revenue and cash flows are affected by economic factors. The automotive OEM channel represents sales to automotive vehicle manufacturers. The automotive OES channel primarily represents sales to automotive vehicle dealerships. The aftermarket channel represents sales to automotive installers and warehouse distributors. The retail channel represents sales to direct-to-consumer retailers. The industrial channel represents sales to non-automotive manufacturers and dealers of agricultural equipment, trailers, and other custom assemblies. The e-commerce channel represents sales to direct-to-consumer retailers who utilize the Internet to purchase the Company’s products. The other channel represents sales that do not fit into a category described above and these sales are considered ancillary to the Company’s core operating activities. The following tables present the Company’s net sales by segments and disaggregated by major sales channel for the three months ended March 31, 2020 and 2019 : Three Months Ended March 31, 2020 Horizon Americas Horizon Europe-Africa Total (dollars in thousands) Net Sales Automotive OEM $ 20,360 $ 41,400 $ 61,760 Automotive OES 1,270 12,460 13,730 Aftermarket 26,770 15,710 42,480 Retail 23,570 — 23,570 Industrial 7,850 320 8,170 E-commerce 12,510 430 12,940 Other 40 560 600 Total $ 92,370 $ 70,880 $ 163,250 Three Months Ended March 31, 2019 Horizon Americas Horizon Europe-Africa Total (dollars in thousands) Net Sales Automotive OEM $ 20,240 $ 48,920 $ 69,160 Automotive OES 1,610 13,290 14,900 Aftermarket 24,150 16,290 40,440 Retail 28,430 — 28,430 Industrial 9,280 700 9,980 E-commerce 11,790 530 12,320 Other — 2,440 2,440 Total $ 95,500 $ 82,170 $ 177,670 During the three months ended March 31, 2020 and 2019 , adjustments to estimates of variable consideration for previously recognized revenue were insignificant. As of March 31, 2020 and 2019 , total opening and closing balances of contract assets and deferred revenue were not material.

Goodwill and Other Intangible A

Goodwill and Other Intangible Assets	3 Months Ended
	Mar. 31, 2020
Goodwill and Intangible Assets Disclosure [Abstract]
Goodwill and Other Intangible Assets	Goodwill and Other Intangible Assets During the three months ended March 31, 2020, the Company experienced a decline in its current and projected future operating and financial performance as a result of the coronavirus COVID-19 pandemic and the related wide-ranging actions taken by international, federal, state, and local public health and governmental authorities to combat the pandemic and spread of COVID-19 in regions across the United States and the world. These actions include quarantines, social distancing and “stay-at-home” orders, travel restrictions, mandatory business closures, and other mandates that have substantially restricted individuals’ daily activities and curtailed or ceased many businesses’ normal operations. In response to the pandemic and these actions, we have adhered to geographical government shutdowns and operating restrictions for our facilities, which resulted in an adverse impact to our business and financial performance for the three months ended March 31, 2020, as well as on our near-term projected financial performance. Due to the impact of COVID-19, the Company identified an indicator of impairment on its goodwill and indefinite-lived intangible assets in its Horizon Americas reporting unit and on its indefinite-lived intangible assets in its Horizon Europe-Africa reporting unit in the first quarter of 2020. As a result of the indicator, the Company performed an interim quantitative impairment assessment of the goodwill recorded for the Horizon Americas reporting unit as of March 31, 2020, by considering the market and income approaches. The results of the quantitative analysis performed indicated the fair value of the reporting unit exceeded the carrying value. Key assumptions used in the analysis were a discount rate of 14.0% , Adjusted EBITDA (as defined below) margin and a terminal growth rate of 3.0% . The primary driver in the reduction of the fair value of the reporting unit was a reduction of expected future cash flows during the remainder of 2020 as the full impact of COVID-19 remains uncertain. Future events and changing market conditions, including the length of time our facilities are impacted by geographical government shutdowns and operating restrictions may, however, lead the Company to re-evaluate the assumptions that have been used to test for goodwill impairment, including key assumptions used in the expected Adjusted EBITDA margins, cash flows and discount rate, as well as other assumptions with respect to matters outside of the Company’s control, such as currency rates and the aforementioned geographical government shutdowns and operating restrictions. Adjusted EBITDA is defined as net income attributable to Horizon Global before interest expense, income taxes, depreciation and amortization, and before certain items, as applicable, such as severance, restructuring, relocation and related business disruption costs, impairment of goodwill and other intangibles, non-cash stock compensation, certain product liability recall and litigation claims, acquisition and integration costs, gains (losses) on business divestitures and other assets, board transition support and non-cash unrealized foreign currency remeasurement costs. In addition, as a result of the indicator of impairment identified, the Company performed an interim impairment assessment of its indefinite-lived intangible assets as of March 31, 2020 in the Horizon Americas and Horizon Europe-Africa operating segments. Based on the results of our analyses, the estimated fair values of the trade names exceeded the carrying values. Key assumptions used in the analyses were a discount rate of 14.5% and royalty rates ranging from 0.5% to 1.9% . The Company will continue to assess the impact of COVID-19 on its business and financial performance and any other indicators of potential impairment. It is possible that if the Company’s decline in results is more than temporary, or if other indicators of impairment are identified, an interim impairment analysis may be necessary, which could result in a future impairment of goodwill, indefinite-lived intangible assets or other long-lived assets. Changes in the carrying amount of goodwill for the three months ended March 31, 2020 are summarized as follows: Horizon Americas Horizon Europe-Africa Total (dollars in thousands) Balance at December 31, 2019 $ 4,350 $ — $ 4,350 Foreign currency translation (990 ) — (990 ) Balance at March 31, 2020 $ 3,360 $ — $ 3,360 The gross carrying amounts and accumulated amortization of the Company’s other intangible assets are summarized as follows. As of Intangible Category by Useful Life Gross Carrying Amount Accumulated Amortization Net Carrying Amount (dollars in thousands) Finite-lived intangible assets: Customer relationships (2 – 20 years) $ 162,720 $ (130,010 ) $ 32,710 Technology and other (3 – 15 years) 21,360 (17,610 ) 3,750 Trademark/Trade names (1 – 8 years) 150 (150 ) — Total finite-lived intangible assets 184,230 (147,770 ) 36,460 Trademark/Trade names, indefinite-lived 20,960 — 20,960 Total other intangible assets $ 205,190 $ (147,770 ) $ 57,420 As of Intangible Category by Useful Life Gross Carrying Amount Accumulated Amortization Net Carrying Amount (dollars in thousands) Finite-lived intangible assets: Customer relationships (2 – 20 years) $ 164,150 $ (129,310 ) $ 34,840 Technology and other (3 – 15 years) 21,420 (17,260 ) 4,160 Trademark/Trade names (1 – 8 years) 150 (150 ) — Total finite-lived intangible assets 185,720 (146,720 ) 39,000 Trademark/Trade names, indefinite-lived 21,120 — 21,120 Total other intangible assets $ 206,840 $ (146,720 ) $ 60,120 On March 1, 2019, the Company entered into an agreement of sale of certain business assets in its Europe-Africa operating segment, via a share and asset sale (the “Sale”). Under the terms of the Sale, effective March 1, 2019, the Company disposed of certain non-automotive business assets that operated using the Terwa brand for $5.5 million , which included a $0.5 million note receivable. The Sale resulted in a $3.6 million loss recorded in other expense, net in the condensed consolidated statements of operations, including a $3.0 million reduction of net intangibles related to customer relationships. Amortization expense related to intangible assets as included in the accompanying condensed consolidated statements of operations is summarized as follows: Three Months Ended March 31, 2020 2019 (dollars in thousands) Technology and other, included in cost of sales $ 120 $ 440 Customer relationships and Trademark/Trade names, included in selling, general and administrative expenses 1,450 1,460 Total amortization expense $ 1,570 $ 1,900

Inventories

Inventories	3 Months Ended
	Mar. 31, 2020
Inventory Disclosure [Abstract]
Inventories	Inventories Inventories consist of the following components: March 31, December 31, (dollars in thousands) Finished goods $ 66,980 $ 82,080 Work in process 11,150 12,820 Raw materials 41,240 41,750 Total inventories $ 119,370 $ 136,650

Property and Equipment, Net

Property and Equipment, Net	3 Months Ended
	Mar. 31, 2020
Property, Plant and Equipment [Abstract]
Property and Equipment, Net	Property and Equipment, Net Property and equipment, net consists of the following components: March 31, December 31, (dollars in thousands) Land and land improvements $ 470 $ 470 Buildings 20,650 21,290 Machinery and equipment 122,300 121,740 143,420 143,500 Accumulated depreciation (69,320 ) (67,670 ) Property and equipment, net $ 74,100 $ 75,830 Depreciation expense included in the accompanying condensed consolidated statements of operations is as follows: Three Months Ended 2020 2019 (dollars in thousands) Depreciation expense, included in cost of sales $ 3,150 $ 3,030 Depreciation expense, included in selling, general and administrative expense 340 280 Total depreciation expense $ 3,490 $ 3,310

Accrued and Other Long-term Lia

Accrued and Other Long-term Liabilities	3 Months Ended
	Mar. 31, 2020
Accrued Liabilities [Abstract]
Accrued and Other Long-term Liabilities	Accrued and Other Long-term Liabilities Accrued liabilities consist of the following components: March 31, December 31, (dollars in thousands) Customer incentives $ 16,900 $ 14,270 Accrued compensation 9,630 6,760 Accrued professional services 4,950 4,790 Customer claims 3,010 7,540 Restructuring 1,720 2,340 Deferred purchase price 610 790 Short-term tax liabilities 530 90 Other 12,730 12,270 Total accrued liabilities $ 50,080 $ 48,850 Other long-term liabilities consist of the following components: March 31, December 31, (dollars in thousands) Deferred purchase price $ 1,710 $ 2,370 Restructuring 1,470 1,600 Long-term tax liabilities 340 340 Other 12,050 9,480 Total other long-term liabilities $ 15,570 $ 13,790

Long-term Debt

Long-term Debt	3 Months Ended
	Mar. 31, 2020
Debt Disclosure [Abstract]
Long-term Debt	Long-term Debt The Company’s long-term debt consists of the following: March 31, December 31, (dollars in thousands) Revolving Credit Facility $ 56,990 $ — ABL Facility — 20,020 First Lien Term Loan 25,330 25,210 Second Lien Term Loan 57,400 56,960 Convertible Notes 125,000 125,000 Bank facilities, capital leases and other long-term debt 13,380 13,670 Gross debt 278,100 240,860 Less: Current maturities, long-term debt 61,220 4,310 Gross long-term debt 216,880 236,550 Less: Unamortized debt issuance costs and original issuance discount on First Lien Term Loan 590 700 Unamortized debt issuance costs and discount on Second Lien Term Loan 11,490 12,730 Unamortized debt issuance costs and discount on Convertible Notes 16,420 18,070 Unamortized debt issuance costs and discount 28,500 31,500 Long-term debt $ 188,380 $ 205,050 ABL Facility On December 22, 2015, the Company entered into an Amended and Restated Loan Agreement among the Company, Horizon Global Americas Inc. (“HGA”), Cequent UK Limited, Cequent Towing Products of Canada Ltd., certain other subsidiaries of the Company party thereto as guarantors, the lenders party thereto and Bank of America, N.A., as agent for the lenders (the “ABL Loan Agreement”), under which the lenders party thereto agreed to provide the Company and certain of its subsidiaries with a committed asset-based revolving credit facility (the “ABL Facility”) providing for revolving loans up to an aggregate principal amount of $99.0 million . The ABL Facility consisted of (i) a US sub-facility, in an aggregate principal amount of up to $85.0 million (subject to availability under a US-specific borrowing base), (ii) a Canadian sub-facility, in an aggregate principal amount of up to $2.0 million (subject to availability under a Canadian-specific borrowing base), and (iii) a UK sub-facility in an aggregate principal amount of up to $3.0 million (subject to availability under a UK-specific borrowing base). In March 2020, the Company paid in full all outstanding debt incurred under the ABL Facility, which the Company accounted for as a debt extinguishment in accordance with guidance in Accounting Standards Codification (“ASC”) 405-20, “Extinguishment of Liabilities”. As a result of the debt extinguishment, the Company recorded $0.8 million of unamortized debt issuance costs in interest expense included in the accompanying condensed consolidated statement of operations during the three months ended March 31, 2020 in accordance with ASC 470-50, “Modifications and Extinguishments” (“ASC 470-50”). In addition, the Company recorded $0.6 million of additional costs in selling, general and administrative expenses included in the accompanying condensed consolidated statement of operations during the three months ended March 31, 2020 . The Company recognized $0.4 million and $0.1 million of amortization of debt issuance costs during the three months ended March 31, 2020 , and March 31, 2019 , respectively, which are included in the accompanying condensed consolidated statements of operations. Total letters of credit issued under the ABL Facility were $7.7 million at March 31, 2020 and December 31, 2019 . The letters of credit were collateralized with a line block on the ABL Facility. As described below, as the ABL facility was extinguished, the agreement governing the ABL Facility required cash collateral to be held until expiration of outstanding letters of credit arrangement. The cash collateral requirement is 105% of the outstanding letters of credit, for a total amount of $8.1 million , which was deposited in March 2020. The cash collateral will be released either because of expiration or early termination and re-issuance of the letters of credit. The Company presented the cash collateral in restricted cash in the accompanying March 31, 2020 condensed consolidated balance sheet. Revolving Credit Facility In March 2020, the Company entered into a Loan and Security Agreement (the “Loan Agreement”) with Encina Business Credit, LLC (“Encina”), as agent for the lenders party thereto. The Loan Agreement provides for an asset-based revolving credit facility (the “Revolving Credit Facility”) in the maximum aggregate principal amount of $75.0 million subject to customary borrowing base limitations contained therein, and may be increased at the Company’s request in increments of $5.0 million , up to a maximum of five times over the life of the Revolving Credit Facility, for a total increase of up to $25.0 million . The interest on the loans under the Loan Agreement will be payable in cash at the interest rate of LIBOR plus 4.00% per annum, subject to a 1.00% LIBOR floor, provided that if for any reason the loans are converted to base rate loans, interest will be paid in cash at the customary base rate plus a margin of 3.00% per annum. All interest, fees, and other monetary obligations due may, in Encina’s discretion but upon prior notice to the Company, be charged to the loan account and thereafter be deemed to be part of the Revolving Credit Facility subject to the same interest rate. There are no amortization payments required under the Loan Agreement. Borrowings under the Loan Agreement mature on the earlier of: (i) March 13, 2023 and (ii) 90 days prior to the maturity of any portion of the debt under the Company’s First Lien Term Loan or Second Lien Term Loan, as may be in effect from time to time, unless earlier terminated. Based on the maturity dates of the Company’s First Lien Term Loan and Second Lien Term Loan, the loans under the Loan Agreement would be due on March 31, 2021; therefore, all borrowings under the Revolving Credit Facility are presented in short-term borrowings and current maturities, long-term debt in the accompanying March 31, 2020 condensed consolidated balance sheet. All of the indebtedness under the Loan Agreement is and will be guaranteed by the Company and certain of the Company’s existing and future North American subsidiaries and is and will be secured by substantially all of the assets of the Company, such other guarantors, and the borrowers under the Loan Agreement. The Loan Agreement also contains a financial covenant that stipulates the Company will not make Capital Expenditures (as defined in the Loan Agreement) exceeding $30.0 million during any fiscal year. Debt issuance costs of $2.3 million were incurred in connection with the entry into the Loan Agreement. The $2.3 million of debt issuance costs are capitalized and presented in prepaid expenses and other current assets in the accompanying March 31, 2020 condensed consolidated balance sheet and will be amortized into interest expense over the contractual term of the Loan Agreement. The Company recognized $0.2 million of amortization of debt issuance costs during the three months ended March 31, 2020 , which are included in the accompanying condensed consolidated statement of operations. There was $57.0 million outstanding under the Revolving Credit Facility as of March 31, 2020 and $20.0 million outstanding under the ABL Facility as of December 31, 2019 , with a weighted average interest rate of 5.6% and 5.5% , respectively. The Company had $12.1 million of availability under the Revolving Credit Facility as of March 31, 2020 and $33.1 million of availability under the ABL Facility as of December 31, 2019 . First Lien Term Loan Agreement On June 30, 2015, the Company entered into a credit agreement among the Company, the lenders party thereto and JPMorgan Chase Bank, N.A. (the “Term Loan Agreement”) under which the Company borrowed an aggregate of $200.0 million (the “Original Term B Loan”), which matures on June 30, 2021. The Term Loan Agreement has been subsequently amended and restated on several occasions and is collectively referred to as the “First Lien Term Loan Agreement”. The Original Term B Loan has also been subsequently amended on several occasions and is collectively referred to as the “First Lien Term Loan”. In conjunction with the entry into the Revolving Credit Facility referenced above, Cortland Capital Markets Services LLC is now serving as administrative agent and collateral agent for the First Lien Term Loan. In March 2020, the Company entered into the ninth amendment to credit agreement (the “Ninth Term Amendment”) to amend the First Lien Term Loan Agreement. The Ninth Term Amendment removed the minimum liquidity covenant of $15.0 million , amended the net leverage ratio requirements to remove the December 31, 2020 leverage ratio test and amended the fixed charge coverage ratio covenant to not be below 1.0 to 1.0 beginning with the fiscal quarter ending March 31, 2021. Pursuant to the Ninth Term Amendment, the prior first lien leverage covenant was eliminated and replaced with the secured net leverage ratio starting with the fiscal quarter ending March 31, 2021 as follows: • March 31, 2021: 6.00 to 1.00 • June 30, 2021 and each fiscal quarter ending thereafter: 5.00 to 1.00 The Company recognized $3.0 million of unamortized debt issuance costs in interest expense included in the accompanying condensed consolidated statement of operations during the three months ended March 31, 2019 due to the extinguishment of debt for certain lenders in the loan syndicate in connection with the Sixth, Seventh and Eighth Term Amendments to the First Lien Term Loan Agreement. The Company recognized $0.1 million and $0.8 million of amortization of debt issuance and discount cost for the three months ended March 31, 2020 and March 31, 2019 , respectively, which is included in the accompanying condensed consolidated statements of operations. The Company recognized $0.2 million of paid-in-kind interest on the First Lien Term Loan for the three months ended March 31, 2020 . The Company had an aggregate principal amount outstanding of $25.3 million and $25.2 million as of March 31, 2020 and December 31, 2019 , respectively, under the First Lien Term Loan bearing cash interest at 7.6% and 8.1% , respectively. In addition to the cash bearing interest, the First Lien Term loan has 3.0% paid in kind interest. All of the indebtedness under the First Lien Term Loan is and will be guaranteed by the Company’s existing and future material domestic subsidiaries and is and will be secured by substantially all of the assets of the Company and such guarantors. Second Lien Term Loan Agreement In March 2019, the Company entered into a credit agreement (the “Second Lien Term Loan Agreement”) with Cortland Capital Markets Services LLC, as administrative agent and collateral agent, and Corre Partners Management L.L.C., as representative of the lenders, and the lenders party thereto. The Second Lien Term Loan Agreement provides for a term loan facility in the aggregate principal amount of $51.0 million and matures on September 30, 2021. The interest on the Second Lien Term Loan may be paid, at the Company’s election, in cash, at the customary eurocurrency rate plus a margin of 10.50% per annum, or in-kind, at the customary eurocurrency rate plus a margin of 11.50% . The Second Lien Term Loan Agreement is secured by a second lien on substantially the same collateral as the First Lien Term Loan and is subject to various affirmative and negative covenants including a secured net leverage ratio tested quarterly further detailed below. In March 2020, the Company entered into the second amendment to credit agreement (the “Second Lien Second Amendment”) to amend the Second Lien Term Loan Agreement. The Second Lien Second Amendment amended certain financial covenants as outlined in the above section, First Lien Term Loan . Debt issuance costs of $3.8 million and original issuance discount of $1.0 million were incurred in connection with entry into the Second Lien Term Loan Agreement for the three months ended March 31, 2019 . The debt issuance and original issuance discount costs will be amortized into interest expense over the contractual term of the loan using the effective interest method. The Company recognized $1.2 million of amortization of debt issuance and discount cost for the three months ended March 31, 2020 , which is included in the accompanying condensed consolidated statements of operations. The Company had total unamortized debt issuance and discount costs of $11.5 million all of which are recorded as a reduction of the debt balance on the Company’s accompanying condensed consolidated balance sheet as of March 31, 2020 . The Company recognized $1.4 million of paid-in-kind interest on its Second Lien Term Loan for the three months ended March 31, 2020 . Convertible Notes In February 2017, the Company completed a public offering of 2.75% Convertible Senior Notes (the “Convertible Notes”) in an aggregate principal amount of $125.0 million . Interest is payable on January 1 and July 1 of each year, beginning on July 1, 2017. The Convertible Notes are convertible into 5,005,000 shares of the Company’s common stock, based on an initial conversion price of $24.98 per share. The Convertible Notes will mature on July 1, 2022 unless earlier converted. During the first quarter of 2020, no conditions allowing holders of the Convertible Notes to convert have been met. Therefore, the Convertible Notes were not convertible during the first quarter of 2020 and are classified as long-term debt. Should conditions allowing holders of the Convertible Notes to convert be met in a future quarter, the Convertible Notes will be convertible at their holders’ option during the immediately following quarter. As of March 31, 2020, the if-converted value of the Convertible Notes did not exceed the principal value of those Convertible Notes. Upon conversion by the holders, the Company may elect to settle such conversion in shares of its common stock, cash, or a combination thereof. Because the Company may elect to settle conversion in cash, the Company separated the Convertible Notes into their liability and equity components by allocating the issuance proceeds to each of those components in accordance with ASC 470-20, “Debt-Debt with Conversion and Other Options.” The Company first determined the fair value of the liability component by estimating the value of a similar liability that does not have an associated equity component. The Company then deducted that amount from the issuance proceeds to arrive at a residual amount, which represents the equity component. The Company accounted for the equity component as a debt discount (with an offset to paid-in capital in excess of par value). The debt discount created by the equity component is being amortized as additional non-cash interest expense using the effective interest method over the contractual term of the Convertible Notes ending on July 1, 2022. The Company is in compliance with all of its financial covenants in its debt agreements as of March 31, 2020 .

Derivative Instruments

Derivative Instruments	3 Months Ended
	Mar. 31, 2020
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Derivative Instruments	Derivative Instruments Foreign Currency Exchange Rate Risk The Company uses foreign currency forward contracts to mitigate the risk associated with fluctuations in currency rates impacting cash flows related to certain payments for contract manufacturing in its lower-cost manufacturing facilities. The foreign currency forward contracts hedged currency exposure between the Mexican peso and the US dollar and matured at specified monthly settlement dates through December 2019. At inception, the Company designated the foreign currency forward contracts as cash flow hedges. Upon the performance of contract manufacturing or purchase of certain inventories the Company de-designated the foreign currency forward contracts. On October 4, 2016, the Company entered into a cross currency swap arrangement to hedge changes in foreign currency exchange rates. The Company used the cross currency swap to mitigate the risk associated with fluctuations in currency rates impacting cash flows related to a non-functional currency intercompany loan of €110.0 million . The cross currency swap hedged currency exposure between the euro and the US dollar and matured on January 3, 2019 with a liability of $2.5 million . The Company entered into forward contracts to settle the cross currency swap, which resulted in a $0.9 million offset to the liability. These settlements resulted in a net realized gain reclassified from accumulated other comprehensive loss (“AOCI”) of $0.6 million . The Company made quarterly principal payments of €1.4 million , plus interest at a fixed rate of 5.4% per annum, in exchange for $1.5 million , plus interest at a fixed rate of 7.2% per annum during the term of the cross currency swap arrangement. At inception, the Company designated the cross currency swap as a cash flow hedge. Changes in the currency rate resulted in reclassification of amounts from AOCI to earnings to offset the re-measurement gain or loss on the non-US denominated intercompany loan. There were no outstanding derivatives contracts at March 31, 2020 and December 31, 2019 . Financial Statement Presentation The following table summarizes the amounts reclassified from AOCI into earnings: Three Months Ended March 31, 2019 Cost of sales Interest expense (dollars in thousands) Total Amounts of Expense Line Items Presented in the Statement of Operations in Which the Effects of Cash Flow Hedges are Recorded $ (154,110 ) $ (10,830 ) Amount of Gain Reclassified from AOCI into Earnings Derivatives classified as cash flow hedges: Foreign currency forward contracts $ 630 $ — Cross currency swap $ — $ 900

Restructuring

Restructuring	3 Months Ended
	Mar. 31, 2020
Restructuring and Related Activities [Abstract]
Restructuring	Restructuring The Company’s restructuring activities are undertaken as necessary to execute management’s strategy and streamline operations, consolidate and take advantage of available capacity and resources, and ultimately achieve productivity improvements and net cost reductions. The Company's restructuring charges consist primarily of employee costs (principally severance and/or termination benefits) and facility closure and other costs. To the extent these programs involve voluntary separations, no liabilities are generally recorded until offers to employees are accepted. If employees are involuntarily terminated, a liability is generally recorded at the communication date. Estimates of restructuring charges are based on information available at the time such charges are recorded. Related charges are recorded in cost of sales and selling, general and administrative expenses. The following table provides a summary of the Company’s consolidated restructuring liabilities and related activity for each type of exit cost as of and for the three months ended March 31, 2020 : Employee Costs Facility Closure and Other Costs Total (dollars in thousands) Balance at January 1, 2020 $ 1,830 $ 2,110 $ 3,940 Payments and other (1) (770 ) 20 (750 ) Balance at March 31, 2020 $ 1,060 $ 2,130 $ 3,190 (1) Other consists primarily of changes in the liability balance due to foreign currency translation and finalization of facility closures. The $3.2 million restructuring liability at March 31, 2020 includes $1.7 million of accrued liabilities and $1.5 million of other long-term liabilities. The $3.9 million restructuring liability at December 31, 2019 includes $2.3 million of accrued liabilities and $1.6 million of other long-term liabilities.

Leases

Leases	3 Months Ended
	Mar. 31, 2020
Leases [Abstract]
Leases	Leases On January 1, 2019, the Company adopted the new accounting guidance under ASC 842, “ Leases ”, as issued by the FASB under ASU 2016-02. Refer to Note 2, New Accounting Pronouncements, in our Annual Report on Form 10-K for the year ended December 31, 2019 for more information. The Company leases certain facilities, automobiles and equipment under non-cancellable operating leases. Our leases have remaining lease terms of one year to twelve years, some of which include options to extend the leases for up to five years, and some of which include options to terminate the leases within one year. Leases with an initial term of twelve months or less are not recorded on the condensed consolidated balance sheets; the Company recognizes lease expense for these leases on a straight-line basis over the lease term. The Company’s financing leases are immaterial. Most leases include one or more options to renew. The exercise of lease renewal options is typically at the Company’s sole discretion; therefore, the majority of renewals to extend the lease terms are not included in the Company’s right-of-use (“ROU”) assets and lease liabilities as they are not reasonably certain of exercise. The Company regularly evaluates the renewal options and when they are reasonably certain of exercise, the Company includes the renewal period in the lease term. The Company combines lease and non-lease components which are accounted for as a single lease component as the Company has elected the practical expedient to group lease and non-lease components for all leases. As most of the Company’s leases do not provide an implicit rate, the Company uses the incremental borrowing rate based on the information available at the lease commencement date in determining the present value of the lease payments. The Company has a centrally managed treasury function; therefore, based on the applicable lease terms and the current economic environment, the Company applies a portfolio approach by operating segment for determining the incremental borrowing rate. The following table provides additional cost and cash flow information for the Company’s leases: Three Months Ended March 31, 2020 2019 (dollars in thousands) Operating lease cost $ 3,600 $ 4,550 Operating cash flows from operating leases $ 4,010 $ 4,130 ROU assets obtained in exchange for operating lease obligations $ 1,570 $ 560 The following table provides additional balance sheet information for the Company’s leases: As of March 31, 2020 As of December 31, 2019 Weighted average remaining lease term (years) 6.6 6.8 Weighted average discount rate 8.7 % 8.7 %

Contingencies

Contingencies	3 Months Ended
	Mar. 31, 2020
Commitments and Contingencies Disclosure [Abstract]
Contingencies

Earnings per Share

Earnings per Share	3 Months Ended
	Mar. 31, 2020
Earnings Per Share [Abstract]
Earnings per Share	Loss) per Share Basic earnings (loss) per share is computed using net income (loss) attributable to Horizon Global and the number of weighted average shares outstanding. Diluted earnings (loss) per share is computed using net income (loss) attributable to Horizon Global and the number of weighted average shares outstanding, adjusted to give effect to the assumed exercise of outstanding stock options and warrants, vesting of restricted shares outstanding, and conversion of the Convertible Notes. The following table sets forth the reconciliation of the numerator and the denominator of basic earnings (loss) per share attributable to Horizon Global and diluted earnings (loss) per share attributable to Horizon Global: Three Months Ended 2020 2019 (dollars in thousands, except share and per share data) Numerator: Net loss from continuing operations $ (16,530 ) $ (29,400 ) Add: (Loss) income from discontinued operations, net of tax (500 ) 3,780 Less: Net loss attributable to noncontrolling interest (290 ) (520 ) Net loss attributable to Horizon Global $ (16,740 ) $ (25,100 ) Denominator: Weighted average shares outstanding, basic 25,393,668 25,188,094 Dilutive effect of stock-based awards — — Weighted average shares outstanding, diluted 25,393,668 25,188,094 Basic income (loss) per share attributable to Horizon Global Continuing operations $ (0.64 ) $ (1.15 ) Discontinued operations (0.02 ) 0.15 Total $ (0.66 ) $ (1.00 ) Diluted income (loss) per share attributable to Horizon Global Continuing operations $ (0.64 ) $ (1.15 ) Discontinued operations (0.02 ) 0.15 Total $ (0.66 ) $ (1.00 ) Due to losses from continuing operations for the three months ended March 31, 2020 and 2019 , the effect of certain dilutive securities were excluded from the computation of weighted average diluted shares outstanding as inclusion would have resulted in anti-dilution. A summary of these anti-dilutive common stock equivalents is provided in the table below: Three Months Ended March 31, 2020 2019 Number of options 18,961 82,987 Exercise price of options $9.20 - $11.02 $9.20 - $11.29 Restricted stock units 1,407,984 472,627 Convertible Notes 5,005,000 5,005,000 Convertible Notes warrants 5,005,000 5,005,000 Second Lien Term Loan warrants 6,487,674 3,601,902 For purposes of determining diluted earnings (loss) per share, the Company has elected a policy to assume that the principal portion of the Convertible Notes, as described in Note 9 , Long-term Debt , is settled in cash and the conversion premium is settled in shares. Therefore, the Company has adopted a policy of calculating the diluted earnings (loss) per share effect of the Convertible Notes using the treasury stock method. As a result, the dilutive effect of the Convertible Notes is limited to the conversion premium, which is reflected in the calculation of diluted loss per share as if it were a freestanding written call option on the Company’s shares. Using the treasury stock method, the Warrants issued in connection with the issuance of the Convertible Notes are considered to be dilutive when they are in the money relative to the Company’s average common stock price during the period. The Convertible Note Hedges purchased in connection with the issuance of the Convertible Notes are always considered to be anti-dilutive and therefore do not impact the Company’s calculation of diluted earnings (loss) per share.

Equity Awards

Equity Awards	3 Months Ended
	Mar. 31, 2020
Share-based Payment Arrangement [Abstract]
Equity Awards	Equity Awards Description of the Plan Horizon employees and non-employee directors participate in the Horizon Global Corporation 2015 Equity and Incentive Compensation Plan (as amended and restated, the “Horizon 2015 Plan”). The Horizon 2015 Plan authorizes the Compensation Committee of the Horizon Board of Directors to grant stock options (including “incentive stock options” as defined in Section 422 of the US Internal Revenue Code), restricted shares, restricted stock units, performance shares, performance stock units, cash incentive awards, and certain other awards based on or related to our common stock to Horizon employees and non-employee directors. No more than 4.4 million Horizon common shares may be delivered under the Horizon 2015 Plan. Stock Options The following table summarizes Horizon stock option activity from December 31, 2019 to March 31, 2020 : Number of Stock Options Weighted Average Exercise Price Average Remaining Contractual Life (Years) Aggregate Intrinsic Value Outstanding at December 31, 2019 37,737 $ 10.52 Granted — — Exercised — — Canceled, forfeited (18,776 ) 10.61 Expired — — Outstanding at March 31, 2020 18,961 $ 10.43 5.7 $ — As of March 31, 2020 , the unrecognized compensation cost related to stock options is immaterial. For the three months ended March 31, 2020 and 2019 , the stock-based compensation expense recognized by the Company related to stock options was immaterial. There was no aggregate intrinsic value of the outstanding options at March 31, 2020 . Stock-based compensation expense is included in selling, general and administrative expenses in the accompanying condensed consolidated statements of operations. Restricted Shares During the three months ended March 31, 2020 , the Company granted an aggregate of 1,139,439 restricted stock units and performance stock units to certain key employees. The total grants consisted of: (i) 284,859 time-based restricted stock units vesting on a ratable basis on March 3, 2021, March 3, 2022 and March 3, 2023 and (ii) 854,580 performance stock units that vest on March 3, 2023 (the “2020 PSUs”). The performance criteria for the 2020 PSUs is based on the Company’s three year cumulative EBITDA. The grant date fair value of the performance s tock units wer e $3.22 , which was determined based on the Company’s closing stock price on date of grant. During 2019, the Company granted an aggregate of 1,950,296 restricted stock units and performance stock units to certain key employees. The total grants consisted of: (i) 353,592 time-based restricted stock units that vest on May 15, 2020; (ii) 27,840 time-based restricted stock units that vest on September 10, 2020; (iii) 245,134 time-based restricted stock units that vest on September 19, 2020; (iv) 25,000 time-based restricted stock units that vest on November 13, 2020; (v) 25,000 time-based restricted stock units that vest on December 9, 2020; (vi) 5,000 time-based restricted stock units that vest on May 15, 2021; (vii) 411,373 time-based restricted stock units that vest on March 19, 2022; (viii) 857,357 market-based performance stock units (the “2019 PSUs”), of which 757,357 vest on March 19, 2022 with the remaining 100,000 vesting on a ratable basis on September 23, 2020, September 23, 2021 and September 23, 2022. For the 2019 PSUs, the performance criteria for the market-based performance stock units is based on the Company’s total shareholder return (“TSR”) relative to the TSR of the common stock of a pre-defined industry peer group. TSR is measured over a period beginning January 1, 2019 and ending December 31, 2021. TSR is calculated as the Company’s average closing stock price for the 20 -trading days at the end of the performance period plus Company dividends, divided by the Company’s average closing stock price for the 20 -trading days prior to the start of the performance period. Depending on the performance achieved, the amount of shares earned can vary from 0% of the target award to a maximum of 200% of the target award. The Company estimated the grant-date fair value of the awards subject to a market condition using a Monte Carlo simulation model, using the following weighted-average assumptions: risk-free interest rate of 2.43% and annualized volatility of 84.1% . The grant date fair value of the p erformance stock units wer e $3.69 . The grant date fair value of r estricted stock units is expensed over the vesting period. Restricted stock unit fair values are based on the closing trading price of the Company’s common stock on the date of grant. Changes in the number of restricted shares outstanding for the period ended March 31, 2020 were as follows: Number of Restricted Shares Weighted Average Grant Date Fair Value Outstanding at December 31, 2019 1,393,085 $ 4.30 Granted 1,139,439 3.22 Vested (48,784 ) 4.37 Canceled, forfeited (340,311 ) 5.35 Outstanding at March 31, 2020 2,143,429 $ 3.56 As of March 31, 2020 , there was $5.1 million in unrecognized compensation costs related to unvested restricted stock units that is expected to be recognized over a weighted-average period of 2.5 years. The Company recognized $0.4 million and $0.4 million of stock-based compensation expense related to restricted shares during the three months ended March 31, 2020 and 2019 , respectively. Stock-based compensation expense is included in selling, general and administrative expenses in the accompanying condensed consolidated statements of operations.

Shareholders' Equity

Shareholders' Equity	3 Months Ended
	Mar. 31, 2020
Other Comprehensive Income [Abstract]
Shareholders' Equity	Shareholders’ Equity Preferred Stock The Company is authorized to issue 100,000,000 shares of preferred stock, par value of $0.01 per share. There were no preferred shares outstanding as of March 31, 2020 or December 31, 2019 . Common Stock The Company is authorized to issue 400,000,000 shares of Horizon Global common stock, par value of $0.01 per share. As of March 31, 2020 , there were 26,115,238 shares of common stock issued and 25,428,732 shares of common stock outstanding. As of December 31, 2019 , there were 26,073,894 shares of common stock issued and 25,387,388 shares of common stock outstanding. Common Stock Warrants In connection with the Second Lien Term Loan the Company entered into in March 2019, the Company became obligated to issue detachable warrants to purchase up to 6.25 million shares of its common stock, which can be exercised on a cashless basis over a five year term with an exercise price of $1.50 per share. The Company also issued 90,667 shares of Series A Preferred Stock in March 2019 in connection with the Second Lien Term Loan that were convertible into additional warrants upon receipt of shareholder approval of the issuance of such additional warrants and the shares of common stock issuable upon exercise thereof. The Series A Preferred Stock was presented as temporary equity in the March 31, 2019 condensed consolidated balance sheet. Upon receipt of such shareholder approval on June 25, 2019, the 90,667 shares of Series A Preferred Stock were converted into warrants to purchase 2,952,248 shares of common stock. See Note 9 , Long-term Debt , for additional information. During 2019, warrants were exercised for 66,476 shares of the Company’s common stock with a value of $0.1 million in a non-cash transaction. As of March 31, 2020 , warrants to purchase 6,487,674 shares of common stock were issued and remain outstanding. Accumulated Other Comprehensive Income (Loss) (“AOCI”) Changes in AOCI by component, net of tax, for the three months ended March 31, 2020 are summarized as follows: Derivative Instruments Foreign Currency Translation Total (dollars in thousands) Balances at January 1, 2020 $ — $ (9,790 ) $ (9,790 ) Net unrealized losses arising during the period (a) — (4,340 ) (4,340 ) Net current-period change — (4,340 ) (4,340 ) Balances at March 31, 2020 $ — $ (14,130 ) $ (14,130 ) Changes in AOCI by component, net of tax, for the three months ended March 31, 2019 are summarized as follows: Derivative Instruments Foreign Currency Translation Total (dollars in thousands) Balances at January 1, 2019 $ 1,960 $ 5,800 $ 7,760 Net unrealized gains arising during the period(a) 570 1,210 1,780 Less: Net realized gains reclassified to net loss(a) 1,640 — 1,640 Net current-period change $ (1,070 ) $ 1,210 $ 140 Balances at March 31, 2019 $ 890 $ 7,010 $ 7,900 (a) There was no income tax impact for derivative instruments during the three months ended March 31, 2020 and 2019 . See Note 10 ., Derivative Instruments, for further details.

Segment Information

Segment Information	3 Months Ended
	Mar. 31, 2020
Segment Reporting [Abstract]
Segment Information	Segment Information The Company groups its business into operating segments by the region in which sales and manufacturing efforts are focused, which are grouped on the basis of similar product, market and operating factors. Each operating segment has discrete financial information evaluated regularly by the Company’s chief operating decision maker in determining resource allocation and assessing performance. The Company reports the results of its business in two operating segments: Horizon Americas and Horizon Europe-Africa . Horizon Americas is comprised of the Company’s North American and South American operations. Horizon Europe-Africa is comprised of the European and South African operations. See below for further information regarding the types of products and services provided within each operating segment. Previously, the Company had three operating segments. However, as a result of its sale in the third quarter of 2019, we have removed APAC as a separate operating segment and its results are presented as a discontinued operation in the accompanying condensed consolidated financial statements. Historical information has been retrospectively adjusted to reflect these changes. Please see Note 3, Discontinued Operations , for additional information. Horizon Americas - A market leader in the design, manufacture and distribution of a wide variety of high-quality, custom engineered towing, trailering and cargo management products and related accessories. These products are designed to support OEMs, OESs, aftermarket and retail customers in the agricultural, automotive, construction, industrial, marine, military, recreational vehicle, trailer and utility end markets. Products include brake controllers, cargo management, heavy-duty towing products, jacks and couplers, protection/securing systems, trailer structural and electrical components, tow bars, vehicle roof racks, vehicle trailer hitches and additional accessories. Horizon Europe‑Africa - With a product offering similar to Horizon Americas , Horizon Europe-Africa focuses its sales and manufacturing efforts in the Europe and Africa regions of the world. The following table presents the Company’s operating segment activity: Three Months Ended 2020 2019 (dollars in thousands) Net Sales Horizon Americas $ 92,370 $ 95,500 Horizon Europe-Africa 70,880 82,170 Total $ 163,250 $ 177,670 Operating Profit (Loss) Horizon Americas $ 2,730 $ (1,500 ) Horizon Europe-Africa (2,510 ) (3,190 ) Corporate (6,900 ) (8,680 ) Total $ (6,680 ) $ (13,370 )

Income Taxes

Income Taxes	3 Months Ended
	Mar. 31, 2020
Income Tax Disclosure [Abstract]
Income Taxes	Income Taxes At the end of each interim reporting period, the Company makes an estimate of the annual effective income tax rate. Tax items included in the annual effective income tax rate are pro-rated for the full year and tax items discrete to a specific quarter are included in the effective income tax rate for that quarter. Effective tax rates vary from period to period as separate calculations are performed for those countries where the Company's operations are profitable and whose results continue to be tax-effected and for those countries where full deferred tax valuation allowances exist and are maintained. In determining the estimated annual effective tax rate, the Company analyzes various factors, including but not limited to, forecasts of projected annual earnings, taxing jurisdictions in which the pretax income and/or pretax losses will be generated, available tax planning strategies. For the three months ended March 31, 2020 and 2019 , the effective income tax rate from continuing operations was 0.1% and 0.9% , respectively. The lower effective tax rate compared to the statutory tax rate is attributable to the valuation allowance recorded in the US and several foreign jurisdictions, which resulted in no income tax benefit recognized for jurisdictional pretax losses. The Company evaluates the realizability of its deferred tax assets on a quarterly basis. In completing this evaluation, the Company considers all available evidence in order to determine whether, based on the weight of the evidence, a valuation allowance is necessary. Full valuation allowances that are recorded for deferred tax assets in the US and certain foreign jurisdictions will be maintained until sufficient positive evidence exists to reduce or eliminate them. The factors considered by management in its determination of the probability of the realization of the deferred tax assets include, but are not limited to, recent historical financial results, historical taxable income, projected future taxable income, the expected timing of the reversals of existing temporary differences, tax planning strategies. If, based upon the weight of available evidence, it is more likely than not the deferred tax assets will not be realized, a valuation allowance is recorded. The Company has recently experienced pre-tax losses. As of March 31, 2020 , the Company believes that it is more likely than not that the recorded deferred tax assets will be realized. On March 27, 2020, Congress enacted the Coronavirus Aid, Relief and Economic Security (“CARES”) Act to provide certain relief as a result of the COVID-19 pandemic outbreak. The Company is currently evaluating how the CARES Act provisions will impact our consolidated financial statements, but is not currently projecting significant impacts on its income tax provision based on its domestic valuation allowance and historical operating performance.

Other Expenses, Net

Other Expenses, Net	3 Months Ended
	Mar. 31, 2020
Other Income and Expenses [Abstract]
Other Expenses, Net	Other Expense, Net Other expense, net consists of the following components: Three Months Ended March 31, 2020 2019 (dollars in thousands) Foreign currency loss $ (1,530 ) $ (1,340 ) Customer pay discounts (270 ) (510 ) Accretion arising from lease recovery (30 ) (40 ) Loss on sale of business — (3,630 ) Other 160 50 Total $ (1,670 ) $ (5,470 )

Subsequent Events

Subsequent Events	3 Months Ended
	Mar. 31, 2020
Subsequent Events [Abstract]
Subsequent Events	Subsequent Events Payroll Protection Program Loan On April 21, 2020, Horizon Global Company LLC (the “US Borrower”), a direct US-based subsidiary of Horizon Global Corporation, received a loan from PNC Bank, National Association for $8.7 million , pursuant to the Paycheck Protection Program (“the PPP Loan”) under Division A, Title I of the CARES Act. The PPP Loan, which is in the form of a Note dated April 18, 2020 issued by the US Borrower, matures on April 18, 2022. The PPP Loan bears interest at 1.0% per annum and is payable monthly commencing on November 15, 2020. Funds from the PPP Loan may be used for payroll, costs used to continue group health care benefits, rent and utilities. Under the terms of the PPP Loan, certain amounts may be forgiven if they are used for qualifying expenses as described in the CARES Act. The Company submitted its PPP Loan application in good faith in accordance with the CARES Act and the guidance issued by the Small Business Administration (the “SBA”), including the SBA’s Paycheck Protection Program Loans Frequently Asked Questions (the “FAQs”). Subsequent to the Company’s application and receipt of the PPP Loan proceeds, the SBA issued guidance that provided uncertainty regarding the Company’s eligibility to receive the PPP Loan. We have sought clarification from the United States Department of the Treasury (the “US Treasury”) regarding our eligibility. In the meantime, we will continue to assess the FAQs and other new guidance issued by the SBA. Absent clarity from the US Treasury, the FAQs or other new guidance issued by the SBA regarding our eligibility, we expect to return the PPP Loan. If the Company retains the PPP Loan, we will continue to use the PPP Loan proceeds on qualifying expenses; however, there is no guarantee that any portion of the PPP Loan proceeds will be forgiven. The French Loan On April 17, 2020, S.I.A.R.R. SAS (the “French Borrower”), an indirect subsidiary of Horizon Global Corporation, received a loan from BNP Paribas (the “French Loan”) for $5.5 million . The French Loan, issued pursuant to an agreement dated April 9, 2020, between the French Borrower and BNP Paribas, matures on April 8, 2021. The French Loan bears interest at a rate of 0.5% per annum. The French Borrower, at its election, may repay the French Loan in full on April 16, 2021 or in monthly installments for a period of five years from the date of election. Loan Agreement and Term Loan Waivers and Consents On May 15, 2020, the Company obtained waivers and consents in connection with its Loan Agreement and the First Lien Term Loan Agreement and the Second Lien Term Loan Agreement that, among other things, consented to the Company’s applying for, obtaining and incurring the PPP Loan and French Loan. Additionally, the waivers and consents in connection with the First Lien Term Loan Agreement and the Second Lien Term Loan Agreement amended the secured net leverage ratio requirements under the agreements to remove the March 31, 2021 leverage ratio test and provide that the secured net leverage ratio requirement will begin with the fiscal quarter ending June 30, 2021 as follows: • June 30, 2021: 6.00 to 1.00 • September 30, 2021 and each fiscal quarter ending thereafter: 5.00 to 1.00 The waivers and consents to the First Lien Term Loan Agreement and Second Lien Term Loan Agreement also amended the fixed charge coverage ratio covenant under the agreements to not be below 1.0 to 1.0 beginning with the fiscal quarter ending June 30, 2021.

New Accounting Pronouncements (

New Accounting Pronouncements (Policies)	3 Months Ended
	Mar. 31, 2020
New Accounting Pronouncements and Changes in Accounting Principles [Abstract]
New Accounting Pronouncements	New Accounting Pronouncements New accounting pronouncements not yet adopted In March 2020, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update (“ASU”) 2020-04, “Reference Rate Reform (Topic 848): Facilitation of the Effects of Reference Rate Reform on Financial Reporting” (“ASU 2020-04”). ASU 2020-04 provides temporary optional guidance to ease the potential burden in accounting for (or recognizing the effects of) reference rate reform on financial reporting. The relief provided by this guidance is elective and applies to all entities, subject to meeting certain criteria, that have contracts, hedging relationships, and other transactions that reference the London Interbank Offered Rate (“LIBOR”) or another reference rate expected to be discontinued because of reference rate reform initiatives being undertaken in an effort to identify alternative reference rates that are more observable or transaction based and less susceptible to manipulation. The optional amendments of this guidance are effective for all entities upon adoption . We are currently assessing the impact of this update on the Company’s condensed consolidated financial statements. In June 2016, the FASB issued ASU 2016-13, “Financial Instruments - Credit Losses (Topic 326): Measurement of Credit Losses on Financial Instruments” (“ASU 2016-13”). ASU 2016-13 replaces the current incurred loss model guidance with a new method that reflects expected credit losses. Under this guidance, an entity would recognize an impairment allowance equal to its estimate of expected credit losses on financial assets measured at amortized cost. In November 2019, the FASB extended the effective date of ASU 2016-13 for smaller reporting companies. As a result, ASU 2016-13 is effective for fiscal years, and interim periods within those years, beginning after December 15, 2022, with early adoption permitted. The standard is not expected to have a significant impact on the Company's condensed consolidated financial statements.

Discontinued Operations (Tables

Discontinued Operations (Tables)	3 Months Ended
	Mar. 31, 2020
Discontinued Operations and Disposal Groups [Abstract]
Schedule of Discontinued Operations	The following table presents the Company’s results from discontinued operations for the three months ended March 31, 2019: Three Months Ended March 31, 2019 (dollars in thousands) Net sales $ 32,010 Cost of sales (23,490 ) Selling, general and administrative expenses (3,160 ) Net gain on dispositions of property and equipment 10 Other expense, net (140 ) Interest expense (100 ) Income before income tax expense 5,130 Income tax expense (1,350 ) Income from discontinued operations, net of tax $ 3,780

Revenues (Tables)

Revenues (Tables)	3 Months Ended
	Mar. 31, 2020
Revenue from Contract with Customer [Abstract]
Schedule of Net Sales Disaggregated by Major Sales Channels	The following tables present the Company’s net sales by segments and disaggregated by major sales channel for the three months ended March 31, 2020 and 2019 : Three Months Ended March 31, 2020 Horizon Americas Horizon Europe-Africa Total (dollars in thousands) Net Sales Automotive OEM $ 20,360 $ 41,400 $ 61,760 Automotive OES 1,270 12,460 13,730 Aftermarket 26,770 15,710 42,480 Retail 23,570 — 23,570 Industrial 7,850 320 8,170 E-commerce 12,510 430 12,940 Other 40 560 600 Total $ 92,370 $ 70,880 $ 163,250 Three Months Ended March 31, 2019 Horizon Americas Horizon Europe-Africa Total (dollars in thousands) Net Sales Automotive OEM $ 20,240 $ 48,920 $ 69,160 Automotive OES 1,610 13,290 14,900 Aftermarket 24,150 16,290 40,440 Retail 28,430 — 28,430 Industrial 9,280 700 9,980 E-commerce 11,790 530 12,320 Other — 2,440 2,440 Total $ 95,500 $ 82,170 $ 177,670

Goodwill and Other Intangible_2

Goodwill and Other Intangible Assets (Tables)	3 Months Ended
	Mar. 31, 2020
Goodwill and Intangible Assets Disclosure [Abstract]
Schedule of Goodwill	Changes in the carrying amount of goodwill for the three months ended March 31, 2020 are summarized as follows: Horizon Americas Horizon Europe-Africa Total (dollars in thousands) Balance at December 31, 2019 $ 4,350 $ — $ 4,350 Foreign currency translation (990 ) — (990 ) Balance at March 31, 2020 $ 3,360 $ — $ 3,360
Schedule of Intangible Assets (excluding Goodwill) by Major Class	The gross carrying amounts and accumulated amortization of the Company’s other intangible assets are summarized as follows. As of Intangible Category by Useful Life Gross Carrying Amount Accumulated Amortization Net Carrying Amount (dollars in thousands) Finite-lived intangible assets: Customer relationships (2 – 20 years) $ 162,720 $ (130,010 ) $ 32,710 Technology and other (3 – 15 years) 21,360 (17,610 ) 3,750 Trademark/Trade names (1 – 8 years) 150 (150 ) — Total finite-lived intangible assets 184,230 (147,770 ) 36,460 Trademark/Trade names, indefinite-lived 20,960 — 20,960 Total other intangible assets $ 205,190 $ (147,770 ) $ 57,420 As of Intangible Category by Useful Life Gross Carrying Amount Accumulated Amortization Net Carrying Amount (dollars in thousands) Finite-lived intangible assets: Customer relationships (2 – 20 years) $ 164,150 $ (129,310 ) $ 34,840 Technology and other (3 – 15 years) 21,420 (17,260 ) 4,160 Trademark/Trade names (1 – 8 years) 150 (150 ) — Total finite-lived intangible assets 185,720 (146,720 ) 39,000 Trademark/Trade names, indefinite-lived 21,120 — 21,120 Total other intangible assets $ 206,840 $ (146,720 ) $ 60,120
Schedule of Finite-Lived Intangible Assets, Amortization Expense	Amortization expense related to intangible assets as included in the accompanying condensed consolidated statements of operations is summarized as follows: Three Months Ended March 31, 2020 2019 (dollars in thousands) Technology and other, included in cost of sales $ 120 $ 440 Customer relationships and Trademark/Trade names, included in selling, general and administrative expenses 1,450 1,460 Total amortization expense $ 1,570 $ 1,900

Inventories (Tables)

Inventories (Tables)	3 Months Ended
	Mar. 31, 2020
Inventory Disclosure [Abstract]
Schedule of Inventory	Inventories consist of the following components: March 31, December 31, (dollars in thousands) Finished goods $ 66,980 $ 82,080 Work in process 11,150 12,820 Raw materials 41,240 41,750 Total inventories $ 119,370 $ 136,650

Property and Equipment, Net (Ta

Property and Equipment, Net (Tables)	3 Months Ended
	Mar. 31, 2020
Property, Plant and Equipment [Abstract]
Property and Equipment	Property and equipment, net consists of the following components: March 31, December 31, (dollars in thousands) Land and land improvements $ 470 $ 470 Buildings 20,650 21,290 Machinery and equipment 122,300 121,740 143,420 143,500 Accumulated depreciation (69,320 ) (67,670 ) Property and equipment, net $ 74,100 $ 75,830
Depreciation Expense	Depreciation expense included in the accompanying condensed consolidated statements of operations is as follows: Three Months Ended 2020 2019 (dollars in thousands) Depreciation expense, included in cost of sales $ 3,150 $ 3,030 Depreciation expense, included in selling, general and administrative expense 340 280 Total depreciation expense $ 3,490 $ 3,310

Accrued and Other Long-term L_2

Accrued and Other Long-term Liabilities (Tables)	3 Months Ended
	Mar. 31, 2020
Accrued Liabilities [Abstract]
Schedule of Accrued Liabilities	Accrued liabilities consist of the following components: March 31, December 31, (dollars in thousands) Customer incentives $ 16,900 $ 14,270 Accrued compensation 9,630 6,760 Accrued professional services 4,950 4,790 Customer claims 3,010 7,540 Restructuring 1,720 2,340 Deferred purchase price 610 790 Short-term tax liabilities 530 90 Other 12,730 12,270 Total accrued liabilities $ 50,080 $ 48,850 Other long-term liabilities consist of the following components: March 31, December 31, (dollars in thousands) Deferred purchase price $ 1,710 $ 2,370 Restructuring 1,470 1,600 Long-term tax liabilities 340 340 Other 12,050 9,480 Total other long-term liabilities $ 15,570 $ 13,790

Long-term Debt (Tables)

Long-term Debt (Tables)	3 Months Ended
	Mar. 31, 2020
Debt Disclosure [Abstract]
Schedule of Debt	The Company’s long-term debt consists of the following: March 31, December 31, (dollars in thousands) Revolving Credit Facility $ 56,990 $ — ABL Facility — 20,020 First Lien Term Loan 25,330 25,210 Second Lien Term Loan 57,400 56,960 Convertible Notes 125,000 125,000 Bank facilities, capital leases and other long-term debt 13,380 13,670 Gross debt 278,100 240,860 Less: Current maturities, long-term debt 61,220 4,310 Gross long-term debt 216,880 236,550 Less: Unamortized debt issuance costs and original issuance discount on First Lien Term Loan 590 700 Unamortized debt issuance costs and discount on Second Lien Term Loan 11,490 12,730 Unamortized debt issuance costs and discount on Convertible Notes 16,420 18,070 Unamortized debt issuance costs and discount 28,500 31,500 Long-term debt $ 188,380 $ 205,050

Derivative Instruments (Tables)

Derivative Instruments (Tables)	3 Months Ended
	Mar. 31, 2020
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Schedule of Derivative Instruments, Gain (Loss) in Statement of Financial Performance	The following table summarizes the amounts reclassified from AOCI into earnings: Three Months Ended March 31, 2019 Cost of sales Interest expense (dollars in thousands) Total Amounts of Expense Line Items Presented in the Statement of Operations in Which the Effects of Cash Flow Hedges are Recorded $ (154,110 ) $ (10,830 ) Amount of Gain Reclassified from AOCI into Earnings Derivatives classified as cash flow hedges: Foreign currency forward contracts $ 630 $ — Cross currency swap $ — $ 900

Restructuring (Tables)

Restructuring (Tables)	3 Months Ended
	Mar. 31, 2020
Restructuring and Related Activities [Abstract]
Schedule of Restructuring Liabilities	The following table provides a summary of the Company’s consolidated restructuring liabilities and related activity for each type of exit cost as of and for the three months ended March 31, 2020 : Employee Costs Facility Closure and Other Costs Total (dollars in thousands) Balance at January 1, 2020 $ 1,830 $ 2,110 $ 3,940 Payments and other (1) (770 ) 20 (750 ) Balance at March 31, 2020 $ 1,060 $ 2,130 $ 3,190 (1) Other consists primarily of changes in the liability balance due to foreign currency translation and finalization of facility closures.

Leases (Tables)

Leases (Tables)	3 Months Ended
	Mar. 31, 2020
Leases [Abstract]
Schedule of Lease Costs	The following table provides additional cost and cash flow information for the Company’s leases: Three Months Ended March 31, 2020 2019 (dollars in thousands) Operating lease cost $ 3,600 $ 4,550 Operating cash flows from operating leases $ 4,010 $ 4,130 ROU assets obtained in exchange for operating lease obligations $ 1,570 $ 560 The following table provides additional balance sheet information for the Company’s leases: As of March 31, 2020 As of December 31, 2019 Weighted average remaining lease term (years) 6.6 6.8 Weighted average discount rate 8.7 % 8.7 %

Earnings per Share (Tables)

Earnings per Share (Tables)	3 Months Ended
	Mar. 31, 2020
Earnings Per Share [Abstract]
Schedule of Earnings Per Share, Basic and Diluted	The following table sets forth the reconciliation of the numerator and the denominator of basic earnings (loss) per share attributable to Horizon Global and diluted earnings (loss) per share attributable to Horizon Global: Three Months Ended 2020 2019 (dollars in thousands, except share and per share data) Numerator: Net loss from continuing operations $ (16,530 ) $ (29,400 ) Add: (Loss) income from discontinued operations, net of tax (500 ) 3,780 Less: Net loss attributable to noncontrolling interest (290 ) (520 ) Net loss attributable to Horizon Global $ (16,740 ) $ (25,100 ) Denominator: Weighted average shares outstanding, basic 25,393,668 25,188,094 Dilutive effect of stock-based awards — — Weighted average shares outstanding, diluted 25,393,668 25,188,094 Basic income (loss) per share attributable to Horizon Global Continuing operations $ (0.64 ) $ (1.15 ) Discontinued operations (0.02 ) 0.15 Total $ (0.66 ) $ (1.00 ) Diluted income (loss) per share attributable to Horizon Global Continuing operations $ (0.64 ) $ (1.15 ) Discontinued operations (0.02 ) 0.15 Total $ (0.66 ) $ (1.00 )
Schedule of Antidilutive Securities Excluded from Computation of Earnings Per Share	A summary of these anti-dilutive common stock equivalents is provided in the table below: Three Months Ended March 31, 2020 2019 Number of options 18,961 82,987 Exercise price of options $9.20 - $11.02 $9.20 - $11.29 Restricted stock units 1,407,984 472,627 Convertible Notes 5,005,000 5,005,000 Convertible Notes warrants 5,005,000 5,005,000 Second Lien Term Loan warrants 6,487,674 3,601,902

Equity Awards (Tables)

Equity Awards (Tables)	3 Months Ended
	Mar. 31, 2020
Share-based Payment Arrangement [Abstract]
Schedule of Share-based Compensation, Stock Options, Activity	The following table summarizes Horizon stock option activity from December 31, 2019 to March 31, 2020 : Number of Stock Options Weighted Average Exercise Price Average Remaining Contractual Life (Years) Aggregate Intrinsic Value Outstanding at December 31, 2019 37,737 $ 10.52 Granted — — Exercised — — Canceled, forfeited (18,776 ) 10.61 Expired — — Outstanding at March 31, 2020 18,961 $ 10.43 5.7 $ —
Schedule of Share-based Compensation, Restricted Stock Units Award Activity	Changes in the number of restricted shares outstanding for the period ended March 31, 2020 were as follows: Number of Restricted Shares Weighted Average Grant Date Fair Value Outstanding at December 31, 2019 1,393,085 $ 4.30 Granted 1,139,439 3.22 Vested (48,784 ) 4.37 Canceled, forfeited (340,311 ) 5.35 Outstanding at March 31, 2020 2,143,429 $ 3.56

Shareholders' Equity (Tables)

Shareholders' Equity (Tables)	3 Months Ended
	Mar. 31, 2020
Other Comprehensive Income [Abstract]
Schedule of Accumulated Other Comprehensive Income (Loss) [Table Text Block]	Changes in AOCI by component, net of tax, for the three months ended March 31, 2020 are summarized as follows: Derivative Instruments Foreign Currency Translation Total (dollars in thousands) Balances at January 1, 2020 $ — $ (9,790 ) $ (9,790 ) Net unrealized losses arising during the period (a) — (4,340 ) (4,340 ) Net current-period change — (4,340 ) (4,340 ) Balances at March 31, 2020 $ — $ (14,130 ) $ (14,130 ) Changes in AOCI by component, net of tax, for the three months ended March 31, 2019 are summarized as follows: Derivative Instruments Foreign Currency Translation Total (dollars in thousands) Balances at January 1, 2019 $ 1,960 $ 5,800 $ 7,760 Net unrealized gains arising during the period(a) 570 1,210 1,780 Less: Net realized gains reclassified to net loss(a) 1,640 — 1,640 Net current-period change $ (1,070 ) $ 1,210 $ 140 Balances at March 31, 2019 $ 890 $ 7,010 $ 7,900 (a) There was no income tax impact for derivative instruments during the three months ended March 31, 2020 and 2019 . See Note 10 ., Derivative Instruments, for further details.

Segment Information (Tables)

Segment Information (Tables)	3 Months Ended
	Mar. 31, 2020
Segment Reporting [Abstract]
Schedule of Segment Reporting Information, by Segment	The following table presents the Company’s operating segment activity: Three Months Ended 2020 2019 (dollars in thousands) Net Sales Horizon Americas $ 92,370 $ 95,500 Horizon Europe-Africa 70,880 82,170 Total $ 163,250 $ 177,670 Operating Profit (Loss) Horizon Americas $ 2,730 $ (1,500 ) Horizon Europe-Africa (2,510 ) (3,190 ) Corporate (6,900 ) (8,680 ) Total $ (6,680 ) $ (13,370 )

Other Expenses, Net (Tables)

Other Expenses, Net (Tables)	3 Months Ended
	Mar. 31, 2020
Other Income and Expenses [Abstract]
Schedule of Other Expense, Net	Other expense, net consists of the following components: Three Months Ended March 31, 2020 2019 (dollars in thousands) Foreign currency loss $ (1,530 ) $ (1,340 ) Customer pay discounts (270 ) (510 ) Accretion arising from lease recovery (30 ) (40 ) Loss on sale of business — (3,630 ) Other 160 50 Total $ (1,670 ) $ (5,470 )

Nature of Operations and Basi_2

Nature of Operations and Basis of Presentation (Details) - USD ($) $ in Thousands	Mar. 31, 2020	Dec. 31, 2019
Debt Instrument [Line Items]
Debt outstanding	$ 278,100	$ 240,860
Revolving Credit Facility [Member]
Debt Instrument [Line Items]
Debt outstanding	$ 56,990	$ 0

Discontinued Operations - Narra

Discontinued Operations - Narrative (Details) - USD ($) $ in Thousands	Sep. 19, 2019	Mar. 31, 2020	Mar. 31, 2019
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Net proceeds from sale of subsidiaries		$ 0	$ 4,970
Horizon Asia-Pacific | Discontinued Operations, Disposed of by Sale
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Net proceeds from sale of subsidiaries	$ 209,600
Gain (loss) on sale of subsidiaries	180,500	$ (500)
Cumulative translation adjustment reclassified to retained earnings	$ 17,300

Revenues - Schedule of Net Sale

Revenues - Schedule of Net Sales Disaggregated by Major Sales Channels (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2020	Mar. 31, 2019
Disaggregation of Revenue [Line Items]
Net sales	$ 163,250	$ 177,670
Automotive OEM
Disaggregation of Revenue [Line Items]
Net sales	61,760	69,160
Automotive OES
Disaggregation of Revenue [Line Items]
Net sales	13,730	14,900
Aftermarket
Disaggregation of Revenue [Line Items]
Net sales	42,480	40,440
Retail
Disaggregation of Revenue [Line Items]
Net sales	23,570	28,430
Industrial
Disaggregation of Revenue [Line Items]
Net sales	8,170	9,980
E-commerce
Disaggregation of Revenue [Line Items]
Net sales	12,940	12,320
Other
Disaggregation of Revenue [Line Items]
Net sales	600	2,440
Horizon Americas
Disaggregation of Revenue [Line Items]
Net sales	92,370	95,500
Horizon Americas | Automotive OEM
Disaggregation of Revenue [Line Items]
Net sales	20,360	20,240
Horizon Americas | Automotive OES
Disaggregation of Revenue [Line Items]
Net sales	1,270	1,610
Horizon Americas | Aftermarket
Disaggregation of Revenue [Line Items]
Net sales	26,770	24,150
Horizon Americas | Retail
Disaggregation of Revenue [Line Items]
Net sales	23,570	28,430
Horizon Americas | Industrial
Disaggregation of Revenue [Line Items]
Net sales	7,850	9,280
Horizon Americas | E-commerce
Disaggregation of Revenue [Line Items]
Net sales	12,510	11,790
Horizon Americas | Other
Disaggregation of Revenue [Line Items]
Net sales	40	0
Horizon Europe-Africa
Disaggregation of Revenue [Line Items]
Net sales	70,880	82,170
Horizon Europe-Africa | Automotive OEM
Disaggregation of Revenue [Line Items]
Net sales	41,400	48,920
Horizon Europe-Africa | Automotive OES
Disaggregation of Revenue [Line Items]
Net sales	12,460	13,290
Horizon Europe-Africa | Aftermarket
Disaggregation of Revenue [Line Items]
Net sales	15,710	16,290
Horizon Europe-Africa | Retail
Disaggregation of Revenue [Line Items]
Net sales	0	0
Horizon Europe-Africa | Industrial
Disaggregation of Revenue [Line Items]
Net sales	320	700
Horizon Europe-Africa | E-commerce
Disaggregation of Revenue [Line Items]
Net sales	430	530
Horizon Europe-Africa | Other
Disaggregation of Revenue [Line Items]
Net sales	$ 560	$ 2,440

Discontinued Operations - Sched

Discontinued Operations - Schedule of Results From Discontinued Operations (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2020	Mar. 31, 2019
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Income from discontinued operations, net of tax	$ (500)	$ 3,780
Discontinued Operations, Disposed of by Sale
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Net sales		32,010
Cost of sales		(23,490)
Selling, general and administrative expenses		(3,160)
Net gain on dispositions of property and equipment		10
Other expense, net		(140)
Interest expense		(100)
Income before income tax expense		5,130
Income tax expense		(1,350)
Income from discontinued operations, net of tax		$ 3,780

Goodwill and Other Intangible_3

Goodwill and Other Intangible Assets - Goodwill Rollforward (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2020	Dec. 31, 2019
Goodwill [Roll Forward]
Balance at December 31, 2019		$ 4,350
Foreign currency translation	$ (990)
Balance at March 31, 2020	3,360
Horizon Americas
Goodwill [Roll Forward]
Balance at December 31, 2019		4,350
Foreign currency translation	(990)
Balance at March 31, 2020	3,360
Horizon Europe-Africa
Goodwill [Roll Forward]
Balance at December 31, 2019		$ 0
Foreign currency translation	0
Balance at March 31, 2020	$ 0

Goodwill and Other Intangible_4

Goodwill and Other Intangible Assets - Schedule of Intangible Assets (excluding Goodwill) by Major Class (Details) - USD ($) $ in Thousands	3 Months Ended	12 Months Ended
	Mar. 31, 2020	Dec. 31, 2019
Intangible Assets, excluding Goodwill [Line Items]
Finite-lived intangible assets, gross carrying amount	$ 184,230	$ 185,720
Finite-lived intangible assets, accumulated amortization	(147,770)	(146,720)
Finite-lived intangible assets, net	36,460	39,000
Total other intangible assets, gross	205,190	206,840
Total other intangible assets, net	57,420	60,120
Trademarks and Trade Names
Intangible Assets, excluding Goodwill [Line Items]
Indefinite-lived intangible assets, gross carrying amount	20,960	21,120
Useful Life Two To Twenty Years | Customer Relationships
Intangible Assets, excluding Goodwill [Line Items]
Finite-lived intangible assets, gross carrying amount	162,720	164,150
Finite-lived intangible assets, accumulated amortization	(130,010)	(129,310)
Finite-lived intangible assets, net	32,710	34,840
Useful Life Three to Fifteen Years | Technology and Other
Intangible Assets, excluding Goodwill [Line Items]
Finite-lived intangible assets, gross carrying amount	21,360	21,420
Finite-lived intangible assets, accumulated amortization	(17,610)	(17,260)
Finite-lived intangible assets, net	3,750	4,160
Useful Life One To Eight Years | Trademarks and Trade Names
Intangible Assets, excluding Goodwill [Line Items]
Finite-lived intangible assets, gross carrying amount	150	150
Finite-lived intangible assets, accumulated amortization	(150)	(150)
Finite-lived intangible assets, net	$ 0	$ 0
Minimum | Useful Life Two To Twenty Years | Customer Relationships
Intangible Assets, excluding Goodwill [Line Items]
Useful life of intangible assets	2 years	2 years
Minimum | Useful Life Three to Fifteen Years | Technology and Other
Intangible Assets, excluding Goodwill [Line Items]
Useful life of intangible assets	3 years	3 years
Minimum | Useful Life One To Eight Years | Trademarks and Trade Names
Intangible Assets, excluding Goodwill [Line Items]
Useful life of intangible assets	1 year	1 year
Maximum | Useful Life Two To Twenty Years | Customer Relationships
Intangible Assets, excluding Goodwill [Line Items]
Useful life of intangible assets	20 years	20 years
Maximum | Useful Life Three to Fifteen Years | Technology and Other
Intangible Assets, excluding Goodwill [Line Items]
Useful life of intangible assets	15 years	15 years
Maximum | Useful Life One To Eight Years | Trademarks and Trade Names
Intangible Assets, excluding Goodwill [Line Items]
Useful life of intangible assets	8 years	8 years

Goodwill and Other Intangible_5

Goodwill and Other Intangible Assets - Additional Information (Details) $ in Millions	Mar. 01, 2019USD ($)	Mar. 31, 2020
Discontinued Operations, Disposed of by Sale
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Non-automotive business assets sold	$ 5.5
Note receivable included in sale of assets	0.5
Discontinued Operations, Disposed of by Sale | Other Expense
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Loss from sale of non-automotive business assets	3.6
Customer Relationships | Discontinued Operations, Disposed of by Sale
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Reduction of net intangible assets from sale	$ 3
Discount Rate
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Goodwill, Measurement Input		0.140
Indefinite-Lived Intangible Asset, Measurement Input		0.145
Terminal Growth Rate
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Goodwill, Measurement Input		0.030
Minimum | Royalty Rate
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Indefinite-Lived Intangible Asset, Measurement Input		0.005
Maximum | Royalty Rate
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Indefinite-Lived Intangible Asset, Measurement Input		0.019

Goodwill and Other Intangible_6

Goodwill and Other Intangible Assets - Schedule of Finite-Lived Intangible Assets, Amortization Expense (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2020	Mar. 31, 2019
Amortization of Intangible Assets [Line Items]
Amortization of intangible assets	$ 1,570	$ 1,900
Cost of sales | Technology and Other
Amortization of Intangible Assets [Line Items]
Amortization of intangible assets	120	440
Selling, General and Administrative Expenses | Customer Relationships
Amortization of Intangible Assets [Line Items]
Amortization of intangible assets	$ 1,450	$ 1,460

Inventories (Details)

Inventories (Details) - USD ($) $ in Thousands	Mar. 31, 2020	Dec. 31, 2019
Inventory Disclosure [Abstract]
Finished goods	$ 66,980	$ 82,080
Work in process	11,150	12,820
Raw materials	41,240	41,750
Total inventories	$ 119,370	$ 136,650

Property and Equipment, Net - P

Property and Equipment, Net - Property and Equipment Table (Details) - USD ($) $ in Thousands	Mar. 31, 2020	Dec. 31, 2019
Property, Plant and Equipment [Line Items]
Property and equipment, gross	$ 143,420	$ 143,500
Less: Accumulated depreciation	(69,320)	(67,670)
Property and equipment, net	74,100	75,830
Land and land improvements
Property, Plant and Equipment [Line Items]
Property and equipment, gross	470	470
Buildings
Property, Plant and Equipment [Line Items]
Property and equipment, gross	20,650	21,290
Machinery and equipment
Property, Plant and Equipment [Line Items]
Property and equipment, gross	$ 122,300	$ 121,740

Property and Equipment, Net - D

Property and Equipment, Net - Depreciation Expense Table (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2020	Mar. 31, 2019
Depreciation Expense [Line Items]
Depreciation expense	$ 3,490	$ 3,310
Cost of sales
Depreciation Expense [Line Items]
Depreciation expense	3,150	3,030
Selling, General and Administrative Expenses
Depreciation Expense [Line Items]
Depreciation expense	$ 340	$ 280

Accrued and Other Long-term L_3

Accrued and Other Long-term Liabilities - Accrued Liabilities (Details) - USD ($) $ in Thousands	Mar. 31, 2020	Dec. 31, 2019
Accrued Liabilities [Abstract]
Customer incentives	$ 16,900	$ 14,270
Accrued compensation	9,630	6,760
Accrued professional services	4,950	4,790
Customer claims	3,010	7,540
Restructuring	1,720	2,340
Deferred purchase price	610	790
Short-term tax liabilities	530	90
Other	12,730	12,270
Total accrued liabilities	$ 50,080	$ 48,850

Accrued and Other Long-term L_4

Accrued and Other Long-term Liabilities - Long-term Liabilities (Details) - USD ($) $ in Thousands	Mar. 31, 2020	Dec. 31, 2019
Accrued Liabilities [Abstract]
Deferred purchase price	$ 1,710	$ 2,370
Restructuring	1,470	1,600
Long-term tax liabilities	340	340
Other	12,050	9,480
Total other long-term liabilities	$ 15,570	$ 13,790

Long-term Debt - Debt Table (De

Long-term Debt - Debt Table (Details) - USD ($) $ in Thousands	Mar. 31, 2020	Dec. 31, 2019
Debt Instrument [Line Items]
Gross long-term debt	$ 278,100	$ 240,860
Current maturities, long-term debt	61,220	4,310
Gross long-term debt	216,880	236,550
Less: Unamortized debt issuance costs and discount	28,500	31,500
Long-term debt	188,380	205,050
Revolving Credit Facility [Member]
Debt Instrument [Line Items]
Gross long-term debt	56,990	0
Revolving Credit Facility, ABL Facility [Member]
Debt Instrument [Line Items]
Gross long-term debt	0	20,020
First Lien Term Loan [Member]
Debt Instrument [Line Items]
Gross long-term debt	25,330	25,210
Less: Unamortized debt issuance costs and discount	590	700
Second Lien Term Loan [Member]
Debt Instrument [Line Items]
Gross long-term debt	57,400	56,960
Less: Unamortized debt issuance costs and discount	11,490	12,730
Convertible Notes Payable [Member]
Debt Instrument [Line Items]
Gross long-term debt	125,000	125,000
Less: Unamortized debt issuance costs and discount	16,420	18,070
Bank facilities, capital leases and other long-term debt [Member]
Debt Instrument [Line Items]
Gross long-term debt	$ 13,380	$ 13,670

Long-term Debt - ABL Facility (

Long-term Debt - ABL Facility (Details) - USD ($)	3 Months Ended
	Mar. 31, 2020	Mar. 31, 2019	Dec. 31, 2019	Dec. 22, 2015
Debt Instrument [Line Items]
Gross long-term debt	$ 278,100,000		$ 240,860,000
Revolving Credit Facility, ABL Facility [Member]
Debt Instrument [Line Items]
Line of Credit Facility, Maximum Borrowing Capacity				$ 99,000,000
Amortization of debt issuance costs	400,000	$ 100,000
Unamortized Debt Issuance Costs	800,000
Selling, General And Administrative Costs Associated With Extinguishment of Debt	600,000
Gross long-term debt	0		20,020,000
Total letters of credit outstanding	$ 7,700,000		7,700,000
Cash Collateral, Percentage Of Outstanding Letters Of Credit	105.00%
Amount Deposited, Including Cash Collateral	$ 8,100,000
Line of Credit Facility, Remaining Borrowing Capacity			33,100,000
Revolving Credit Facility [Member]
Debt Instrument [Line Items]
Line of Credit Facility, Maximum Borrowing Capacity	75,000,000
Debt Issuance Costs, Net	2,300,000
Amortization of debt issuance costs	200,000	$ 100,000
Gross long-term debt	56,990,000		$ 0
Line of Credit Facility, Remaining Borrowing Capacity	12,100,000
U.S. Sub-facility [Member] | Revolving Credit Facility, ABL Facility [Member]
Debt Instrument [Line Items]
Line of Credit Facility, Maximum Borrowing Capacity	85,000,000
Canadian Sub-facility [Member] | Revolving Credit Facility, ABL Facility [Member]
Debt Instrument [Line Items]
Line of Credit Facility, Maximum Borrowing Capacity	2,000,000
UK Sub-facility [Member] | Revolving Credit Facility, ABL Facility [Member]
Debt Instrument [Line Items]
Line of Credit Facility, Maximum Borrowing Capacity	$ 3,000,000

Long-term Debt - Revolving Cred

Long-term Debt - Revolving Credit Facility (Details) - USD ($)	1 Months Ended	3 Months Ended
	Mar. 31, 2020	Mar. 31, 2020	Mar. 31, 2019	Dec. 31, 2019	Dec. 22, 2015
Debt Instrument [Line Items]
Gross long-term debt	$ 278,100,000	$ 278,100,000		$ 240,860,000
Revolving Credit Facility [Member]
Debt Instrument [Line Items]
Debt, Weighted Average Interest Rate	5.60%	5.60%
Line of Credit Facility, Maximum Borrowing Capacity	$ 75,000,000	$ 75,000,000
Line of Credit Facility, Incremental Increase Borrowing Capacity, Amount Available	5,000,000	5,000,000
Line of Credit Facility, Incremental Increase Borrowing Capacity, Maximum Amount Available	25,000,000	25,000,000
Debt Covenant, Maximum Capital Expenditures	30,000,000	30,000,000
Debt Issuance Costs, Net	2,300,000	2,300,000
Amortization of debt issuance costs		200,000	$ 100,000
Gross long-term debt	56,990,000	56,990,000		$ 0
Line of Credit Facility, Remaining Borrowing Capacity	$ 12,100,000	12,100,000
Revolving Credit Facility [Member] | London Interbank Offered Rate (LIBOR) [Member]
Debt Instrument [Line Items]
Debt Instrument, Basis Spread on Variable Rate	4.00%
Revolving Credit Facility [Member] | London Interbank Offered Rate (LIBOR) [Member] | Minimum
Debt Instrument [Line Items]
Debt Instrument, Basis Spread on Variable Rate	1.00%
Revolving Credit Facility [Member] | Base Rate [Member]
Debt Instrument [Line Items]
Debt Instrument, Basis Spread on Variable Rate	3.00%
Revolving Credit Facility, ABL Facility [Member]
Debt Instrument [Line Items]
Debt, Weighted Average Interest Rate				5.50%
Line of Credit Facility, Maximum Borrowing Capacity					$ 99,000,000
Amortization of debt issuance costs		400,000	$ 100,000
Gross long-term debt	$ 0	$ 0		$ 20,020,000
Line of Credit Facility, Remaining Borrowing Capacity				$ 33,100,000

Long-term Debt - First Lien Ter

Long-term Debt - First Lien Term Loans (Details)	3 Months Ended
	Mar. 31, 2020USD ($)	Mar. 31, 2019USD ($)	Sep. 30, 2021	Jun. 30, 2021	Mar. 31, 2021	Dec. 31, 2019USD ($)	Jun. 30, 2015USD ($)
Debt Instrument [Line Items]
Paid-in-kind interest	$ 1,570,000	$ 0
First Lien Term Loan [Member]
Debt Instrument [Line Items]
Debt Instrument, Face Amount							$ 200,000,000
Amortization of debt issuance costs	100,000	800,000
Paid-in-kind interest	200,000
Term Loan, Aggregate Amount Outstanding	$ 25,300,000					$ 25,200,000
Debt Instrument, Interest Rate, Effective Percentage	7.58038%					8.10%
First Lien Term Loan [Member] | Debt Instrument, Covenant One [Member]
Debt Instrument [Line Items]
Debt Instrument, Paid In-Kind Interest Rate, Stated Percentage	3.00%
First Lien Term Loan [Member] | Debt Instrument, Covenant Three [Member]
Debt Instrument [Line Items]
Debt Covenants Removed, Minimum Liquidity	$ 15,000,000
Interest expense | First Lien Term Loan [Member]
Debt Instrument [Line Items]
Unamortized Debt Issuance Costs		$ 3,000,000
Subsequent Event | First Lien Term Loan [Member] | Debt Instrument, Covenant One [Member]
Debt Instrument [Line Items]
Secured Net Leverage Ratio				6	6
Subsequent Event | First Lien Term Loan [Member] | Debt Instrument, Covenant Two [Member]
Debt Instrument [Line Items]
Secured Net Leverage Ratio			5	5
Subsequent Event | First Lien Term Loan [Member] | Debt Instrument, Covenant Three [Member]
Debt Instrument [Line Items]
Fixed Charge Coverage Ratio				1

Long-term Debt - Second Lien Te

Long-term Debt - Second Lien Term Loan (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2020	Mar. 31, 2019
Short-term Debt [Line Items]
Paid-in-kind interest	$ 1,570	$ 0
Second Lien Term Loan [Member]
Short-term Debt [Line Items]
Debt Instrument, Face Amount	$ 51,000
Debt Instrument, Paid In-Kind Interest Rate, Stated Percentage	11.50%
Debt Instrument, Basis Spread on Variable Rate	10.50%
Debt Issuance Costs, Net		3,800
Original Debt Issuance Costs, Net		$ 1,000
Amortization of debt issuance costs	$ 1,200
Unamortized Debt Issuance Costs and Discount	11,500
Paid-in-kind interest	$ 1,400

Long-term Debt - Convertible No

Long-term Debt - Convertible Notes (Details) - USD ($)	Mar. 31, 2020	Dec. 31, 2019	Feb. 01, 2017
Debt Instrument [Line Items]
Gross long-term debt	$ 278,100,000	$ 240,860,000
Revolving Credit Facility [Member]
Debt Instrument [Line Items]
Gross long-term debt	56,990,000	0
Convertible Notes Payable [Member]
Debt Instrument [Line Items]
Gross long-term debt	$ 125,000,000	$ 125,000,000
Debt Instrument, Interest Rate, Stated Percentage			2.75%
Debt Instrument, Face Amount			$ 125,000,000
Convertible Preferred Stock, Shares Issued upon Conversion			5,005,000
Debt Instrument, Convertible, Conversion Price			$ 24.98

Derivative Instruments - Deriva

Derivative Instruments - Derivative Narrative (Details) - 3 months ended Mar. 31, 2020 € in Millions, $ in Millions	USD ($)	EUR (€)	EUR (€)
Currency Swap
Derivative [Line Items]
Derivative Liability, Notional Amount	$ 2.5
Currency Swap | Cash Flow Hedging [Member]
Derivative [Line Items]
Derivative Instruments in Hedges, Periodic Principle Payment | €		€ 1.4
Derivative Liability, Fixed Interest Rate	5.40%		5.40%
Derivative Instruments in Hedges, Periodic Principle Receipt	$ 1.5
Derivative Asset, Fixed Interest Rate	7.20%		7.20%
Forward Contracts [Member]
Derivative [Line Items]
Derivative Asset, Fair Value, Amount Offset Against Collateral	$ 0.9
Amount of Gain Reclassified from AOCI into Earnings	$ 0.6
Intercompany Loan [Member]
Derivative [Line Items]
Related Party Transaction, Due from (to) Related Party | €			€ 110

Derivative Instruments - Gain (

Derivative Instruments - Gain (Loss) Reclassified from AOCI into Earnings (Details) - USD ($)	3 Months Ended
	Mar. 31, 2020	Mar. 31, 2019
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Cost of sales	$ (137,000,000)	$ (154,110,000)
Interest expense	$ (8,190,000)	(10,830,000)
Foreign currency forward contracts | Cost of sales
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Amount of Gain Reclassified from AOCI into Earnings		630
Foreign currency forward contracts | Interest expense
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Amount of Gain Reclassified from AOCI into Earnings		0
Currency Swap | Cost of sales
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Amount of Gain Reclassified from AOCI into Earnings		0
Currency Swap | Interest expense
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Amount of Gain Reclassified from AOCI into Earnings		$ 900

Restructuring - Restructuring R

Restructuring - Restructuring Reserve Rollforward (Details) $ in Thousands	3 Months Ended
	Mar. 31, 2020USD ($)
Restructuring Reserve [Roll Forward]
Balance at January 1, 2020	$ 3,940
Payments and other	(750)
Balance at March 31, 2020	3,190
Employee Costs
Restructuring Reserve [Roll Forward]
Balance at January 1, 2020	1,830
Payments and other	(770)
Balance at March 31, 2020	1,060
Facility Closure and Other Costs
Restructuring Reserve [Roll Forward]
Balance at January 1, 2020	2,110
Payments and other	20
Balance at March 31, 2020	$ 2,130

Restructuring - Additional Info

Restructuring - Additional Information (Details) - USD ($) $ in Thousands	Mar. 31, 2020	Dec. 31, 2019
Restructuring Cost and Reserve [Line Items]
Restructuring Reserve	$ 3,190	$ 3,940
Accrued Liabilities
Restructuring Cost and Reserve [Line Items]
Restructuring Reserve	1,700	2,300
Other Noncurrent Liabilities
Restructuring Cost and Reserve [Line Items]
Restructuring Reserve	$ 1,500	$ 1,600

Leases - Additional Information

Leases - Additional Information (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2020	Mar. 31, 2019	Dec. 31, 2019
Lessee, Lease, Description [Line Items]
Renewal term for operating leases	5 years
Termination term	1 year
Operating lease cost	$ 3,600	$ 4,550
Operating cash flows from operating leases	4,010	4,130
Right-of-use assets obtained in exchange for operating lease obligations	$ 1,570	$ 560
Weighted average remaining lease term	6 years 7 months 6 days		6 years 9 months 18 days
Weighted average discount rate	8.70%		8.70%
Minimum
Lessee, Lease, Description [Line Items]
Remaining lease term	1 year
Maximum
Lessee, Lease, Description [Line Items]
Remaining lease term	12 years

Contingencies (Details)

Contingencies (Details) - USD ($)	Apr. 29, 2020	Mar. 31, 2020	Mar. 31, 2019	Dec. 31, 2019
Loss Contingencies [Line Items]
Loss contingency liability		$ 0		$ 3,900,000
Asset recorded associated with loss contingency accrual				$ 400,000
Loss contingency charges			$ 4,300,000
Estimated Litigation Asset		2,900,000
Subsequent Event
Loss Contingencies [Line Items]
Settlement amount	$ 4,400,000
Accrued Liabilities
Loss Contingencies [Line Items]
Liabilities for patent infringement		900,000
Other Noncurrent Liabilities
Loss Contingencies [Line Items]
Liabilities for patent infringement		3,500,000
Prepaid Expenses and Other Current Assets
Loss Contingencies [Line Items]
Estimated Litigation Asset		800,000
Other Assets
Loss Contingencies [Line Items]
Estimated Litigation Asset		2,100,000
Cost of sales
Loss Contingencies [Line Items]
Loss contingency charges		$ 1,500,000

Earnings per Share - Reconcilia

Earnings per Share - Reconciliation of Numerator and Denominator of Loss Per Share (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended
	Mar. 31, 2020	Mar. 31, 2019
Earnings Per Share [Abstract]
Net loss from continuing operations	$ (16,530)	$ (29,400)
(Loss) income from discontinued operations, net of tax	(500)	3,780
Less: Net loss attributable to noncontrolling interest	(290)	(520)
Net loss attributable to Horizon Global	$ (16,740)	$ (25,100)
Weighted average shares outstanding, basic (in shares)	25,393,668	25,188,094
Dilutive effect of stock-based awards (in shares)	0	0
Weighted average shares outstanding, diluted (in shares)	25,393,668	25,188,094
Basic income (loss) per share attributable to Horizon Global
Continuing operations (in dollars per share)	$ (0.64)	$ (1.15)
Discontinued operations (in dollars per share)	(0.02)	0.15
Total	(0.66)	(1)
Diluted income (loss) per share attributable to Horizon Global
Continuing operations (in dollars per share)	(0.64)	(1.15)
Discontinued operations (in dollars per share)	(0.02)	0.15
Total	$ (0.66)	$ (1)

Earnings per Share - Schedule o

Earnings per Share - Schedule of Antidilutive Securities (Details) - $ / shares	3 Months Ended
	Mar. 31, 2020	Mar. 31, 2019
Share-based Payment Arrangement, Option [Member]
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Antidilutive securities excluded from computation of earnings per share	18,961	82,987
Restricted Stock Units (RSUs) [Member]
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Antidilutive securities excluded from computation of earnings per share	1,407,984	472,627
Convertible Notes Payable [Member]
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Antidilutive securities excluded from computation of earnings per share	5,005,000	5,005,000
Convertible Notes Warrants [Member]
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Antidilutive securities excluded from computation of earnings per share	5,005,000	5,005,000
Common Stock Warrants
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Antidilutive securities excluded from computation of earnings per share	6,487,674	3,601,902
Minimum | Share-based Payment Arrangement, Option [Member]
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Exercise price of options (in usd per share)	$ 9.20	$ 9.20
Maximum | Share-based Payment Arrangement, Option [Member]
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Exercise price of options (in usd per share)	$ 11.02	$ 11.29

Equity Awards - Stock Options N

Equity Awards - Stock Options Narrative (Details)	Mar. 31, 2020shares
Horizon 2015 Plan [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of Shares Authorized	4,350,000

Equity Awards - Stock Option Ac

Equity Awards - Stock Option Activity Table (Details)	3 Months Ended
	Mar. 31, 2020USD ($)$ / sharesshares
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding [Roll Forward]
Beginning balance (in shares) | shares	37,737
Granted (in shares) | shares	0
Exercised (in shares) | shares	0
Canceled, forfeited (in shares) | shares	(18,776)
Expired (in shares) | shares	0
Ending balance (in shares) | shares	18,961
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Weighted Average Exercise Price [Abstract]
Beginning balance (in usd per share) | $ / shares	$ 10.52
Granted (in usd per share) | $ / shares	0
Exercised (in usd per share) | $ / shares	0
Canceled, forfeited (in usd per share) | $ / shares	10.61
Expired (in usd per share) | $ / shares	0
Ending balance (in usd per share) | $ / shares	$ 10.43
Share-based Compensation Arrangement by Share-based Payment Award, Options, Additional Disclosures
Average Remaining Contractual Life (Years)	5 years 8 months 13 days
Aggregate Intrinsic Value | $	$ 0

Equity Awards - Restricted Shar

Equity Awards - Restricted Shares Narrative (Details) $ / shares in Units, $ in Millions	3 Months Ended		12 Months Ended
	Mar. 31, 2020USD ($)$ / sharesshares	Mar. 31, 2019USD ($)	Dec. 31, 2019$ / sharesRateshares
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Unrecognized compensation cost | $	$ 5.1
Restricted Stock And Performance Stock Units [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Granted (in shares)	1,139,439		1,950,296
Restricted Shares [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Granted (in shares)	1,139,439
Debt Instrument, Convertible, Threshold Consecutive Trading Days			20
Grant date fair value (in usd per share) | $ / shares	$ 3.22
Weighted-average period for recognition of the unrecognized unvested restricted shares-based compensation expense	2 years 6 months 12 days
Restricted shares-based compensation expense | $	$ 0.4	$ 0.4
Market-based restricted shares [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Risk-free interest rate (as a percent) | Rate			2.43%
Expected stock volatility (as a percent) | Rate			84.10%
Grant date fair value (in usd per share) | $ / shares	$ 3.22
Performance Shares [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Grant date fair value (in usd per share) | $ / shares			$ 3.69
Tranche One | Restricted Shares [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Granted (in shares)	284,859		353,592
Tranche Two | Restricted Shares [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Granted (in shares)			27,840
Tranche Three | Restricted Shares [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Granted (in shares)			245,134
Tranche Four | Restricted Shares [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Granted (in shares)	854,580		25,000
Tranche Five | Restricted Shares [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Granted (in shares)			25,000
Tranche Six | Restricted Shares [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Granted (in shares)			5,000
Tranche Seven | Restricted Shares [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Granted (in shares)			411,373
Tranche Eight | Restricted Shares [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Granted (in shares)			857,357
Tranche Nine | Restricted Shares [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Granted (in shares)			757,357
Tranche Ten | Restricted Shares [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Granted (in shares)			100,000
Minimum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-based Compensation Arrangement by Share-based Payment Award, Percent attainment range | Rate			0.00%
Maximum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-based Compensation Arrangement by Share-based Payment Award, Percent attainment range | Rate			200.00%

Equity Awards - Restricted Sh_2

Equity Awards - Restricted Shares Activity Table (Details) - Restricted Shares [Member]	3 Months Ended
	Mar. 31, 2020$ / sharesshares
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Number of Shares [Roll Forward]
Beginning balance (in shares) | shares	1,393,085
Granted (in shares) | shares	1,139,439
Vested (in shares) | shares	(48,784)
Canceled, forfeited (in shares) | shares	(340,311)
Ending balance (in shares) | shares	2,143,429
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Weighted Average Grant Date Fair Value [Roll Forward]
Beginning balance (in usd per share) | $ / shares	$ 4.30
Granted (in usd per share) | $ / shares	3.22
Vested (in usd per share) | $ / shares	4.37
Canceled, forfeited (in usd per share) | $ / shares	5.35
Ending balance (in usd per share) | $ / shares	$ 3.56

Shareholders' Equity - (Details

Shareholders' Equity - (Details) - USD ($) $ / shares in Units, $ in Thousands	Jun. 25, 2019	Mar. 31, 2020	Mar. 31, 2019	Dec. 31, 2019
Accumulated Other Comprehensive Income (Loss) [Line Items]
Preferred stock, authorized shares (in shares)		100,000,000		100,000,000
Preferred stock, par value (in dollars per share)		$ 0.01		$ 0.01
Preferred stock, outstanding shares (in shares)		0		0
Common Stock, authorized shares (in shares)		400,000,000		400,000,000
Common stock, par value (in dollars per share)		$ 0.01		$ 0.01
Common Stock, issued shares (in shares)		26,115,238		26,073,894
Common Stock, outstanding shares (in shares)		25,428,732		25,387,388
Number of warrants authorized to be issued (in shares)		6,250,000
Exercise price of warrants (in usd per share)		$ 1.50
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Beginning balance		$ 8,600	$ (66,220)	$ (66,220)
Total other comprehensive (loss) income, net of tax		(4,340)	140
Ending balance		(12,410)	(85,980)	8,600
Derivative Instruments
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Beginning balance		0	1,960	1,960
Net unrealized gains (losses) arising during the period		0	570
Less: Net realized gains (losses) reclassified to net loss			1,640
Total other comprehensive (loss) income, net of tax		0	(1,070)
Ending balance		0	890	0
Foreign Currency Translation
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Beginning balance		(9,790)	5,800	5,800
Net unrealized gains (losses) arising during the period		(4,340)	1,210
Less: Net realized gains (losses) reclassified to net loss			0
Total other comprehensive (loss) income, net of tax		(4,340)	1,210
Ending balance		(14,130)	7,010	(9,790)
Accumulated Other Comprehensive Income (Loss)
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Beginning balance		(9,790)	7,760	7,760
Net unrealized gains (losses) arising during the period		(4,340)	1,780
Less: Net realized gains (losses) reclassified to net loss			1,640
Total other comprehensive (loss) income, net of tax		(4,340)	140
Ending balance		$ (14,130)	7,900	$ (9,790)
Common Stock Warrants
Accumulated Other Comprehensive Income (Loss) [Line Items]
Common Stock, issued shares (in shares)		6,487,674		6,487,674
Common Stock, outstanding shares (in shares)		6,487,674		6,487,674
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Beginning balance		$ 10,610	0	$ 0
Ending balance		$ 10,610	$ 5,380	$ 10,610
Conversion of Stock, Shares Converted	2,952,248			66,476
Conversion of Stock, Amount Issued				$ 100
Class of Warrant or Right, Outstanding		6,487,674
Series A [Member] | Preferred Stock
Accumulated Other Comprehensive Income (Loss) [Line Items]
Issued warrants (in shares)	90,667		90,667

Segment Information (Details)

Segment Information (Details) $ in Thousands	3 Months Ended
	Mar. 31, 2020USD ($)segment	Mar. 31, 2019USD ($)
Segment Reporting [Abstract]
Number of Reportable Segments | segment	2
Segment Reporting Information [Line Items]
Net sales	$ 163,250	$ 177,670
Operating Profit (Loss)	(6,680)	(13,370)
Horizon Americas
Segment Reporting Information [Line Items]
Net sales	92,370	95,500
Horizon Europe-Africa
Segment Reporting Information [Line Items]
Net sales	70,880	82,170
Operating Segments [Member] | Horizon Americas
Segment Reporting Information [Line Items]
Net sales	92,370	95,500
Operating Profit (Loss)	2,730	(1,500)
Operating Segments [Member] | Horizon Europe-Africa
Segment Reporting Information [Line Items]
Net sales	70,880	82,170
Operating Profit (Loss)	(2,510)	(3,190)
Corporate, Non-Segment [Member]
Segment Reporting Information [Line Items]
Operating Profit (Loss)	$ (6,900)	$ (8,680)

Income Taxes (Details)

Income Taxes (Details)	3 Months Ended
	Mar. 31, 2020	Mar. 31, 2019
Income Tax Disclosure [Abstract]
Effective Income Tax Rate (as a percent)	0.10%	0.90%

Other Expenses, Net (Details)

Other Expenses, Net (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2020	Mar. 31, 2019
Other Income and Expenses [Abstract]
Foreign currency loss	$ (1,530)	$ (1,340)
Customer pay discounts	(270)	(510)
Accretion arising from lease recovery	(30)	(40)
Loss on sale of business	0	(3,630)
Other	160	50
Total	$ (1,670)	$ (5,470)

Subsequent Events (Details)

Subsequent Events (Details)	Sep. 30, 2021	Jun. 30, 2021	Mar. 31, 2021	Apr. 21, 2020USD ($)	Jun. 30, 2015USD ($)
CARES Act, Paycheck Protection Plan | Subsequent Event
Subsequent Event [Line Items]
Debt Instrument, Face Amount				$ 8,700,000
Debt Instrument, Interest Rate, Stated Percentage				1.00%
First Lien Term Loan [Member]
Subsequent Event [Line Items]
Debt Instrument, Face Amount					$ 200,000,000
Indirect Subsidiary | French Loan | Subsequent Event
Subsequent Event [Line Items]
Debt Instrument, Face Amount				$ 5,500,000
Debt Instrument, Interest Rate, Stated Percentage				0.50%
Debt Instrument, Covenant One [Member] | First Lien Term Loan [Member] | Subsequent Event
Subsequent Event [Line Items]
Secured Net Leverage Ratio		6	6
Debt Instrument, Covenant Two [Member] | First Lien Term Loan [Member] | Subsequent Event
Subsequent Event [Line Items]
Secured Net Leverage Ratio	5	5
Debt Instrument, Covenant Three [Member] | First Lien Term Loan [Member] | Subsequent Event
Subsequent Event [Line Items]
Fixed Charge Coverage Ratio		1