Gentherm (THRM) 10-Q 1 May 15 2015 Q1 Quarterly report Financial data

Document_and_Entity_Informatio

Document and Entity Information	3 Months Ended
	Mar. 31, 2015	1-May-15
Document And Entity Information [Abstract]
Document Type	10-Q
Amendment Flag	FALSE
Document Period End Date	31-Mar-15
Document Fiscal Year Focus	2015
Document Fiscal Period Focus	Q1
Trading Symbol	THRM
Entity Registrant Name	GENTHERM INC
Entity Central Index Key	903129
Current Fiscal Year End Date	-19
Entity Filer Category	Large Accelerated Filer
Entity Common Stock, Shares Outstanding		35,904,826

Consolidated_Condensed_Balance

Consolidated Condensed Balance Sheets (USD $)	Mar. 31, 2015	Dec. 31, 2014
In Thousands, unless otherwise specified
Current Assets:
Cash and cash equivalents	$79,581	$85,700
Accounts receivable, less allowance of $2,858 and $2,847, respectively	147,545	136,183
Inventory:
Raw materials	51,404	48,678
Work in process	4,508	4,009
Finished goods	24,233	24,956
Inventory, net	80,145	77,643
Derivative financial instruments	2,362	145
Deferred income tax assets	5,532	6,247
Prepaid expenses and other assets	31,510	29,107
Total current assets	346,675	335,025
Property and equipment, net	92,444	91,727
Goodwill	27,673	30,398
Other intangible assets	58,171	68,129
Deferred financing costs	377	406
Deferred income tax assets	22,007	18,843
Derivative financial instruments	4,821	1,345
Other non-current assets	11,126	12,019
Total assets	563,294	557,892
Current Liabilities:
Accounts payable	84,544	71,434
Accrued liabilities	55,496	68,387
Current maturities of long-term debt	4,657	5,306
Derivative financial instruments	4,817	2,466
Total current liabilities	149,514	147,593
Pension benefit obligation	9,515	10,321
Other liabilities	5,460	2,788
Long-term debt, less current maturities	81,126	85,469
Derivative financial instruments	9,017	6,698
Deferred income tax liabilities	11,026	10,804
Total liabilities	265,658	263,673
Common Stock:
No par value; 55,000,000 shares authorized, 35,890,326 and 35,696,334 issued and outstanding at March 31, 2015 and December 31, 2014, respectively	246,133	243,255
Paid-in capital	-8,185	-8,224
Accumulated other comprehensive loss	-45,063	-25,743
Accumulated earnings	104,751	84,931
Total shareholders’ equity	297,636	294,219
Total liabilities and shareholders’ equity	$563,294	$557,892

Consolidated_Condensed_Balance1

Consolidated Condensed Balance Sheets (Parenthetical) (USD $)	Mar. 31, 2015	Dec. 31, 2014
In Thousands, except Share data, unless otherwise specified
Statement Of Financial Position [Abstract]
Accounts receivable, allowance	$2,858	$2,847
Common Stock, par value
Common Stock, shares authorized	55,000,000	55,000,000
Common Stock, shares issued	35,890,326	35,696,334
Common Stock, shares outstanding	35,890,326	35,696,334

Consolidated_Condensed_Stateme

Consolidated Condensed Statements of Income (USD $)	3 Months Ended
In Thousands, except Share data, unless otherwise specified	Mar. 31, 2015	Mar. 31, 2014
Income Statement [Abstract]
Product revenues	$206,909	$193,938
Cost of sales	140,339	136,913
Gross margin	66,570	57,025
Operating expenses:
Net research and development expenses	14,548	13,045
Acquisition transaction expenses		1,075
Selling, general and administrative	24,945	17,867
Total operating expenses	39,493	31,987
Operating income	27,077	25,038
Interest expense	-564	-931
Revaluation of derivatives loss	-964	-247
Foreign currency gain (loss)	435	-1,523
Gain from equity investment		785
Other income (expense)	195	-241
Earnings before income tax	26,179	22,881
Income tax expense	6,359	6,302
Net income	$19,820	$16,579
Basic earnings per share	$0.55	$0.47
Diluted earnings per share	$0.55	$0.47
Weighted average number of shares – basic	35,769,190	35,063,671
Weighted average number of shares – diluted	36,244,695	35,592,027

Consolidated_Condensed_Stateme1

Consolidated Condensed Statements of Comprehensive Income (USD $)	3 Months Ended
In Thousands, unless otherwise specified	Mar. 31, 2015	Mar. 31, 2014
Statement Of Income And Comprehensive Income [Abstract]
Net income	$19,820	$16,579
Other comprehensive income (loss), gross of tax:
Foreign currency translation adjustments loss	-19,605	-2,625
Unrealized gain (loss) on foreign currency derivative securities	-347	61
Unrealized gain on commodity derivative securities	76
Unrealized gain on interest rate derivative securities		39
Other comprehensive loss, gross of tax	-19,876	-2,525
Other comprehensive income (loss), related tax effect:
Foreign currency translation adjustments	467	574
Unrealized gain on foreign currency derivative securities	89
Other comprehensive income, related tax effect	556	574
Other comprehensive loss, net of tax	-19,320	-1,951
Comprehensive income	$500	$14,628

Consolidated_Condensed_Stateme2

Consolidated Condensed Statements of Cash Flows (USD $)	3 Months Ended
In Thousands, unless otherwise specified	Mar. 31, 2015	Mar. 31, 2014
Operating Activities:
Net income	$19,820	$16,579
Adjustments to reconcile net income to cash provided by (used in) operating activities:
Depreciation and amortization	7,459	7,473
Deferred income tax benefit	-2,483	-1,804
Stock compensation	1,358	870
Defined benefit plan (income) expense	-9	1
Provision of doubtful accounts	125	-4
Gain on revaluation of financial derivatives	-324	-557
Gain from equity investment		-785
Excess tax benefit from equity awards		-2,173
(Gain) loss on sale of property and equipment	-8	24
Changes in operating assets and liabilities:
Accounts receivable	-15,994	-21,153
Inventory	-5,762	457
Prepaid expenses and other assets	-3,905	-5,786
Accounts payable	15,522	2,798
Accrued liabilities	-6,970	904
Net cash provided by (used in) operating activities	8,829	-3,156
Investing Activities:
Investment in subsidiary, net of cash acquired	-47	-628
Proceeds from the sale of property and equipment	181	44
Purchases of property and equipment	-10,403	-6,769
Net cash used in investing activities	-10,269	-7,353
Financing Activities:
Borrowing of debt		13,455
Repayments of debt	-1,669	-6,965
Excess tax benefit from equity awards		2,173
Cash paid for the cancellation of restricted stock	-467
Proceeds from the exercise of Common Stock options	2,026	1,634
Net cash provided by (used in) financing activities	-110	10,297
Foreign currency effect	-4,569	2,978
Net increase (decrease) in cash and cash equivalents	-6,119	2,766
Cash and cash equivalents at beginning of period	85,700	54,885
Cash and cash equivalents at end of period	79,581	57,651
Supplemental disclosure of cash flow information:
Cash paid for taxes	14,768	4,689
Cash paid for interest	515	725
Supplemental disclosure of non-cash transactions:
Common Stock issued to Board of Directors and employees	$673	$495

Consolidated_Condensed_Stateme3

Consolidated Condensed Statement of Changes In Shareholders' Equity (USD $)	Total	Common Stock	Paid-in Capital	Accumulated Earnings	Accumulated Other Comprehensive Loss
In Thousands, except Share data
Beginning Balance at Dec. 31, 2014	$294,219	$243,255	($8,224)	$84,931	($25,743)
Beginning Balance (in shares) at Dec. 31, 2014	35,696,334	35,697,000
Exercise of Common Stock options for cash	2,026	2,672	-646
Exercise of Common Stock options for cash (in shares)		123,000
Cancelation of restricted stock	-467	-467
Cancelation of restricted stock (in shares)		-11,000
Stock option compensation	685		685
Common Stock issued to Board of Directors and employees	673	673
Common Stock issued to Board of Directors and employees (in shares)		81,000
Currency translation, net	-19,138				-19,138
Commodity hedge, net	76				76
Foreign currency hedge, net	-258				-258
Net income	19,820			19,820
Ending Balance at Mar. 31, 2015	$297,636	$246,133	($8,185)	$104,751	($45,063)
Ending Balance (in shares) at Mar. 31, 2015	35,890,326	35,890,000

The_Company_and_Subsequent_Eve

The Company and Subsequent Events	3 Months Ended
	Mar. 31, 2015
Company And Subsequent Events [Abstract]
The Company and Subsequent Events	Note 1 – The Company and Subsequent Events
	Gentherm Incorporated is a global technology and industry leader in the design, development, and manufacturing of innovative thermal management technologies.  Unless the context otherwise requires, the terms “Company”, “we”, “us” and “our” used herein refer to Gentherm Incorporated and its consolidated subsidiaries. Our products can be found on the vehicles of nearly all major automotive manufacturers, spanning all major automotive markets.  We operate in locations aligned with our major customers’ product strategies in order to provide locally enhanced design, integration and production capabilities and to identify future thermal technology product opportunities in both automotive and other markets.   We concentrate our research on the development of new technologies that will improve overall product effectiveness and customer satisfaction.  We also focus on developing new design applications from our existing technologies to create products and market opportunities for thermal comfort solutions.
	Subsequent Events
	We have evaluated subsequent events through the date that our consolidated condensed financial statements are issued.  No events have occurred that would require adjustment to or disclosure in the consolidated condensed financial statements.

Basis_of_Presentation_and_New_

Basis of Presentation and New Accounting Pronouncements	3 Months Ended
	Mar. 31, 2015
Basis Of Presentation And New Accounting Pronouncements [Abstract]
Basis of Presentation and New Accounting Pronouncements	Note 2 – Basis of Presentation and New Accounting Pronouncements
	The accompanying unaudited consolidated condensed financial statements have been prepared in accordance with accounting principles generally accepted in the United States of America for interim financial information and pursuant to the rules and regulations of the Securities and Exchange Commission.  Certain information and note disclosures normally included in the audited annual consolidated financial statements prepared in accordance with generally accepted accounting principles in the United States of America have been condensed or omitted pursuant to those rules and regulations.  In the opinion of management, all adjustments, consisting of normal recurring items, considered necessary for a fair presentation of our results of operations, financial position and cash flows have been included. The balance sheet as of December 31, 2014 was derived from audited annual consolidated financial statements, but does not include all disclosures required by accounting principles generally accepted in the United States of America. Operating results for the three months ended March 31, 2015 is not necessarily indicative of the results that may be expected for the year ending December 31, 2015. These consolidated condensed financial statements should be read in conjunction with the financial statements and the notes thereto included in our Annual Report on Form 10-K for the year ended December 31, 2014.
	Revenue from Contracts with Customers
	In May, 2014, the Financial Accounting Standards Board (FASB) issued ASU 2014-09, “Revenue from Contracts with Customers.”  ASU 2014-09 was developed to enable financial statement users to better understand the nature, amount, timing and uncertainty of revenue and cash flows arising from contracts with customers.  The update’s core principal is that an entity should recognize revenue to depict the transfer of promised goods or services to customers in an amount that reflects the consideration to which the entity expects to be entitled in exchange for those goods or services.  Companies are to use a five-step contract review model to ensure revenue gets recognized, measured and disclosed in accordance with this principal.
	ASU 2014-09 is effective for fiscal years and interim periods beginning after December 15, 2016.  The amendments in this update should be applied retrospectively either to each prior reporting period presented or to disclose the cumulative effect recognized at the date of initial application.  Gentherm has developed a plan to complete the five-step contract review process for all existing contracts with customers.  We are still in the process of determining the impact the implementation of ASU 2014-09 will have on the Company’s financial statements.

Earnings_per_Share

Earnings per Share	3 Months Ended
	Mar. 31, 2015
Earnings Per Share [Abstract]
Earnings per Share	Note 3 – Earnings per Share
	Basic earnings per share are computed by dividing net income by the weighted average number of shares of stock outstanding during the period. The Company’s diluted earnings per share give effect to all potential common shares outstanding during a period that do not have an anti-dilutive impact to the calculation. In computing the diluted earnings per share, the treasury stock method is used in determining the number of shares assumed to be issued from the exercise of Common Stock equivalents.
	Note 3 – Earning Per Share – Continued
	The following summarizes the common shares included in the basic and diluted shares, as disclosed on the face of the consolidated condensed statements of income:
		Three Months
		Ended March 31,
		2015		2014
	Weighted average number of shares for calculation of basic EPS		35,769,190		35,063,671
	Stock options under the 2006, 2011 and 2013 equity plans		475,505		528,356
	Weighted average number of shares for calculation of diluted EPS		36,244,695		35,592,027
	The accompanying table represents Common Stock issuable upon the exercise of certain stock options that have been excluded from the diluted shares calculation because the effect of their inclusion would be anti-dilutive.
		Three Months
		Ended March 31,
		2015		2014
	Stock options outstanding under the 2006, 2011 and 2013 Equity Incentive Plans		—		—

Segment_Reporting

Segment Reporting	3 Months Ended
	Mar. 31, 2015
Segment Reporting [Abstract]
Segment Reporting	Note 4 – Segment Reporting
	Segment information is used by management for making operating decisions for the Company. Management evaluates the performance of the Company’s segments based primarily on operating income or loss.
	The Company’s reportable segments are as follows:
	●	Automotive  – this segment represents the design, development, manufacturing and sales of automotive seat comfort systems, specialized automotive cable systems and certain automotive and non-automotive thermal convenience products.
	●	Industrial – the combined operating results of Gentherm Global Power Technologies and Gentherm’s advanced research and development division.  Advanced research and development includes efforts focused on improving the efficiency of thermoelectric technologies and advanced heating wire technology as well as other applications.  The segment includes government sponsored research projects, including those sponsored by the U.S. Department of Energy, the Germany Ministry of Economics and Technology and the European Union.
	●	Reconciling Items – include corporate selling, general and administrative costs and acquisition transaction costs.
	The table below presents segment information about the reported product revenues, depreciation and amortization and operating income (loss) of the Company for three months ended March 31, 2015 and 2014. Certain amounts for 2014 have been reclassified to  conform with the current year presentation. With the exception of goodwill, asset information by segment is not reported since the Company does not manage assets at a segment level. As of March 31, 2015, goodwill assigned to our Automotive and Industrial segments were $21,368  and $6,305, respectively.  Goodwill as of March 31, 2014 pertained entirely to our Automotive segment.
	Note 4 – Segment Reporting – Continued
	Three Months Ended March 31,		Automotive		Industrial				Reconciling			Consolidated
									Items			Total
	2015:00:00
	Product revenues		$	199,443	$	7,466			$	—		$	206,909
	Depreciation and amortization			6,316		489				654			7,459
	Operating income (loss)			40,682		(1,106	)			(12,499	)		27,077
	2014:00:00
	Product revenues		$	193,938	$	—			$	—		$	193,938
	Depreciation and amortization			6,482		107				884			7,473
	Operating income (loss)			35,174		(1,550	)			(8,586	)		25,038
	Total product revenues information by geographic area is as follows:
		Three Months Ended March 31,
		2015						2014
	United States	$	95,304		46	%		$	85,067			44	%
	South Korea		22,863		11	%			21,915			11	%
	Germany		18,840		9	%			22,476			12	%
	China		17,970		9	%			15,944			8	%
	Japan		11,185		5	%			10,465			6	%
	United Kingdom		6,988		3	%			6,600			3	%
	Czech Republic		6,159		3	%			6,086			3	%
	Canada		5,485		3	%			3,162			2	%
	Mexico		5,433		3	%			4,703			2	%
	Other		16,682		8	%			17,520			9	%
	Total Non U.S.		111,605		54	%			108,871			56	%
		$	206,909		100	%		$	193,938			100	%

Debt

Debt	3 Months Ended
	Mar. 31, 2015
Debt Disclosure [Abstract]
Debt	Note 5 – Debt
	Credit Agreement
	The Company, together with certain direct and indirect subsidiaries have an outstanding Credit Agreement (the “Credit Agreement”) with a syndicate of banks led by Bank of America.
	The Credit Agreement provides for a $50,000 secured term loan facility for Gentherm (the “US Term Loan”), and a €20,000 secured term loan facility for Gentherm GmbH (the “Europe Term Loan”), and a $100,000 secured revolving credit facility (the “US Revolving Note”) with specific borrowing limits for foreign subsidiaries party to such agreement.  The Credit Agreement allows the Company to increase the revolving credit facility or incur additional secured term loans in an aggregate amount of $50,000, subject to specific conditions.
	All obligations under the Credit Agreement (including all the obligations of any US or non-US loan party) are unconditionally guaranteed by Gentherm and specified US subsidiaries.  Additionally, such parties entered into a pledge and security agreement, granting a security interest in substantially all of their personal property to secure their respective obligations under the Credit Agreement, including the stock and membership interests of specified subsidiaries (limited to 66% of the stock in the case of certain non-US subsidiaries).  Further, specified foreign subsidiaries guarantee all obligations of the non-US loan parties under the Credit Agreement.
	The Company must maintain certain financial ratios consisting of a minimum Consolidated Fixed Charge Coverage Ratio and a maximum Consolidated Leverage Ratio as defined by the Credit Agreement.  The Credit Agreement places specific restrictions on the amount of dividend payments to shareholders.
	Note 5 – Debt – Continued
	Under the Credit Agreement, U.S. Dollar denominated loans bear interest at either a base rate (“Base Rate Loans”) or Eurocurrency rate (“Eurocurrency Rate Loans”), plus a margin (“Applicable Rate”).  Base Rate Loans are equal to the highest of the Federal Funds Rate (0.06% at March 31, 2015) plus 0.50%, Bank of America’s prime rate (3.25% as of March 31, 2015), or a one month Eurocurrency rate plus 1.00%.  Eurocurrency Rate Loans denominated in US Dollars or European Euros (“Euros”) are equal to the London Interbank Offered Rate and the Canadian Dealer Offered Rate for Canadian Dollar denominations.  All loans denominated in a currency other than the US Dollar, including the Europe Term Loan, must be Eurocurrency Rate Loans.  Interest is payable at least quarterly.
	The Applicable Rate varies based on the Consolidated Leverage Ratio of the Company, as defined by the Credit Agreement. As long as the Company is not in default of the terms and conditions of the Credit Agreement, the lowest and highest possible Applicable Rate is 1.50% and 2.00%, respectively, for Eurocurrency Rate Loans and 0.50% and 1.00%, respectively, for Base Rate Loans.   Our leverage ratio as of March 31, 2015 qualified us for the lowest Applicable Rate available.
	DEG Loan
	The Company has a fixed interest rate loan with the German Investment Corporation, a subsidiary of KfW banking group (“DEG”), a German government-owned development bank (“DEG Loan”). The DEG Loan is subject to semi-annual principal payments beginning March, 2015 and ending September, 2019. Under the terms of the DEG Loan, the Company must maintain a minimum Debt-to-Equity Ratio, Current Ratio and Debt Service Coverage Ratio based on the financial statements of Gentherm’s wholly owned subsidiary, Gentherm Automotive Systems (China) Limited, as defined by the DEG Loan agreement.
	The following table summarizes the Company’s debt at March 31, 2015 and at December 31, 2014.
		March 31, 2015						December 31,
								2014
		Interest			Principal			Principal
		Rate			Balance			Balance
	Credit Agreement:
	US Term Loan		1.78	%	$	48,750		$	49,375
	Europe Term Loan		1.51	%		20,943			23,963
	US Revolving Note		1.68	%		12,000			12,000
	DEG Loan		4.25	%		3,866			4,805
	Capital leases		4.2	%		224			632
	Total debt					85,783			90,775
	Current portion					(4,657	)		(5,306	)
	Long-term debt, less current maturities				$	81,126		$	85,469
	As of March 31, 2015, we were in compliance with all terms as outlined in the Credit Agreement, the DEG Loan and the capital lease agreement.

Derivative_Financial_Instrumen

Derivative Financial Instruments	3 Months Ended
	Mar. 31, 2015
Derivative Instruments And Hedging Activities Disclosure [Abstract]
Derivative Financial Instruments	Note 6 – Derivative Financial Instruments
	We are exposed to market risk from changes in foreign currency exchange rates, short-term interest rates and price fluctuations of certain material commodities such as copper. Market risks for changes in interest rates relate primarily to our debt obligations under our Credit Agreement and obligations from currency related interest rate swaps. Foreign currency exchange risks are attributable to sales to foreign customers and purchases from foreign suppliers not denominated in the location’s functional currency, foreign plant operations, intercompany indebtedness, and intercompany investments and include exposures to the Euro, Mexican Peso, Canadian Dollar, Hungarian Forint, Ukrainian Hryvnia, Japanese Yen, Chinese Renminbi, Vietnamese Dong and Korean Won.
	Note 6 – Derivative Financial Instruments – Continued
	The Company regularly enters into derivative contracts with the objective of managing its financial and operational exposure arising from these risks by offsetting gains and losses on the underlying exposures with gains and losses on the financial instruments used to hedge them. The maximum length of time over which we hedge our exposure to foreign currency exchange risks is one year.  We do not enter into derivative financial instruments for speculative or trading purposes. Our hedging relationships are formally documented at the inception of the hedge, and hedges must be highly effective in offsetting changes to future cash flows on hedged transactions both at the inception of a hedge and on an ongoing basis to be designated for hedge accounting treatment. We record the ineffective portion of foreign currency hedging instruments, if any, to foreign currency gain (loss) in the consolidated condensed statements of income. Though we continuously monitor the hedging program, derivative positions and hedging strategies, foreign currency forward exchange agreements have not always been designated as hedging instruments for accounting purposes.
	The Company uses a market approach to value derivative instruments, analyzing observable benchmark rates at commonly quoted intervals for the instrument’s full term.
	In March, 2008, Gentherm GmbH, entered into a 10 year currency related interest rate swap (“CRS”) having a notional value of €10,000, or $10,740 as of March 31, 2015, in order to offset the interest rate risk associated with a debt financing which was repaid prior to our acquisition of Gentherm GmbH in 2011. The counterparty to the CRS was HypoVereinsbank AG (now UniCredit Bank AG, “UniCredit”), its main bank at the time. Under this agreement, Gentherm GmbH receives interest equal to the six month Euro Interbank Offered Rate (“EURIBOR”), 0.09% at March 31, 2015, plus 1.40% and pays interest equal to the six month EURIBOR when the exchange rate between the European Euro (“EUR”) and the Swiss Franc (“CHF”) equals or exceeds 1.46 EUR to the CHF.  When the exchange rate is less than 1.46 (it was 1.05 at March 31, 2015), Gentherm GmbH pays interest equal to the six month EURIBOR plus a premium. The premium is calculated as [(1.46 – current EUR/CHF rate)/current EUR/CHF rate] x 100.
	In 2011, Gentherm GmbH brought forth a lawsuit against UniCredit, because of the recommendation to enter into the CRS. On March 25, 2013, the District Court in Munich, Germany ruled in favor of Gentherm GmbH, asserting that UniCredit had a conflict of interest as financial advisor and counterparty to the CRS and violated its duty to disclose the initial negative market value of the CRS. The Munich District Court ruled that UniCredit must (1) pay €144 to Gentherm GmbH and (2) bear the costs of all future obligations under the CRS, which were €12,413 or $13,332 as of March 31, 2015, plus additional accrued liabilities for past due payments under the CRS of approximately €8,978, or $9,642 as of March 31, 2015. UniCredit has appealed the decision. The appeal is pending. As a result, the Company cannot be certain that any portion of the award by the Munich District Court will be upheld. Gentherm GmbH has entered into an offsetting derivative contract designed to limit the market risk of payments due under the CRS through the end of the CRS agreement, in 2018.
	Information related to the recurring fair value measurement of derivative instruments in our consolidated condensed balance sheet as of March 31, 2015 is as follows:
					Asset Derivatives						Liability Derivatives				Net Asset/
															(Liabilities)
		Hedge	Fair Value		Balance Sheet				Fair		Balance Sheet	Fair
		Designation	Hierarchy		Location				Value		Location	Value
	CRS	Not a hedge	Level 2								Current liabilities	$	(4,315	)
											Non-current		(9,017	)
											liabilities
	Total CRS											$	(13,332	)	$	(13,332	)
	Foreign currency derivatives	Cash flow hedge	Level 2			Current assets			$	158	Current liabilities	$	(502	)	$	(344	)
	Foreign currency derivatives	Not a hedge	Level 2			Current assets			$	2,128					$	2,128
						Non-current				4,821						4,821
						assets
	Total foreign currency derivatives								$	7,107		$	(502	)	$	6,605
	Commodity derivatives	Cash flow hedge	Level 2			Current assets			$	76					$	76
	Note 6 – Derivative Financial Instruments – Continued
	Information relating to the effect of derivative instruments on our consolidated condensed statements of income is as follows:
		Location	Three Months				Three Months
			Ended				Ended
			March 31,				March 31,
			2015				2014
	Foreign currency derivatives	Revaluation of derivatives	$	6,197		$	262
		Cost of sales		(128	)		(53	)
		Selling, general and administrative		21			(48	)
		Other comprehensive income		(347	)		61
		Foreign currency gain (loss)		207			(453	)
	Total foreign currency derivatives		$	5,950		$	(231	)
	CRS	Revaluation of derivatives	$	(7,161	)	$	(509	)
	Interest rate derivatives	Other comprehensive income	$	—		$	39
	Commodity derivatives	Other comprehensive income	$	76		$	—
	We did not incur any hedge ineffectiveness during the three months ended March 31, 2015 and 2014.

Fair_Value_Measurement

Fair Value Measurement	3 Months Ended
	Mar. 31, 2015
Fair Value Disclosures [Abstract]
Fair Value Measurement	Note 7 – Fair Value Measurement
	The Company bases fair value on the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date. We have adopted a fair value hierarchy that prioritizes observable and unobservable inputs used to measure fair value into three broad levels, which are described below:
	Level 1: Quoted prices (unadjusted) in active markets that are accessible at the measurement date for assets or liabilities. The fair value hierarchy gives the highest priority to Level 1 inputs.
	Level 2: Observable prices that are based on inputs not quoted on active markets, but corroborated by market data.
	Level 3: Unobservable inputs that are used when little or no market data is available. The fair value hierarchy gives the lowest priority to Level 3 inputs.
	In determining fair value, the Company utilizes valuation techniques that maximize the use of observable inputs and minimize the use of unobservable inputs to the extent possible and also considers counterparty credit risk in its assessment of fair value.
	Except for derivative instruments (see Note 6), pension liabilities and pension plan assets, the Company has no financial assets and liabilities that are carried at fair value at March 31, 2015 and December 31, 2014. The carrying amounts of financial instruments comprising cash and cash equivalents, accounts receivable, accounts payable and accrued liabilities approximate their fair values due to the relatively short maturity of such instruments. The fair values of the Company’s debt instruments are based on the amount of future cash flows associated with each instrument discounted using the Company’s borrowing rate.  As of March 31, 2015 and December 31, 2014, the carrying value of debt instruments was not materially different than its fair value because the interest rates on variable rate debt approximated rates currently available to the Company (see Note 5).
	Certain Company assets are required to be recorded at fair value on a non-recurring basis when events and circumstances indicate that the carrying value may not be recoverable. As of March 31, 2015 and 2014, the Company did not realize any changes to the fair value of these assets due to the non-occurrence of events or circumstances that could negatively impact their recoverability.

Basis_of_Presentation_and_New_1

Basis of Presentation and New Accounting Pronouncements (Policies)	3 Months Ended
	Mar. 31, 2015
Basis Of Presentation And New Accounting Pronouncements [Abstract]
Revenue from Contracts with Customers	Revenue from Contracts with Customers
	In May, 2014, the Financial Accounting Standards Board (FASB) issued ASU 2014-09, “Revenue from Contracts with Customers.”  ASU 2014-09 was developed to enable financial statement users to better understand the nature, amount, timing and uncertainty of revenue and cash flows arising from contracts with customers.  The update’s core principal is that an entity should recognize revenue to depict the transfer of promised goods or services to customers in an amount that reflects the consideration to which the entity expects to be entitled in exchange for those goods or services.  Companies are to use a five-step contract review model to ensure revenue gets recognized, measured and disclosed in accordance with this principal.
	ASU 2014-09 is effective for fiscal years and interim periods beginning after December 15, 2016.  The amendments in this update should be applied retrospectively either to each prior reporting period presented or to disclose the cumulative effect recognized at the date of initial application.  Gentherm has developed a plan to complete the five-step contract review process for all existing contracts with customers.  We are still in the process of determining the impact the implementation of ASU 2014-09 will have on the Company’s financial statements.

Earnings_per_Share_Tables

Earnings per Share (Tables)	3 Months Ended
	Mar. 31, 2015
Earnings Per Share [Abstract]
Basic and Diluted Shares of Consolidated Condensed Statements of Income	The following summarizes the common shares included in the basic and diluted shares, as disclosed on the face of the consolidated condensed statements of income:
		Three Months
		Ended March 31,
		2015		2014
	Weighted average number of shares for calculation of basic EPS		35,769,190		35,063,671
	Stock options under the 2006, 2011 and 2013 equity plans		475,505		528,356
	Weighted average number of shares for calculation of diluted EPS		36,244,695		35,592,027
Common Stock Issuable upon Exercise of Certain Stock Options	The accompanying table represents Common Stock issuable upon the exercise of certain stock options that have been excluded from the diluted shares calculation because the effect of their inclusion would be anti-dilutive.
		Three Months
		Ended March 31,
		2015		2014
	Stock options outstanding under the 2006, 2011 and 2013 Equity Incentive Plans		—		—

Segment_Reporting_Tables

Segment Reporting (Tables)	3 Months Ended
	Mar. 31, 2015
Segment Reporting [Abstract]
Segment Information about Reported Product Revenues, Depreciation and Amortization and Operating Income (Loss)	The table below presents segment information about the reported product revenues, depreciation and amortization and operating income (loss) of the Company for three months ended March 31, 2015 and 2014. Certain amounts for 2014 have been reclassified to  conform with the current year presentation. With the exception of goodwill, asset information by segment is not reported since the Company does not manage assets at a segment level. As of March 31, 2015, goodwill assigned to our Automotive and Industrial segments were $21,368  and $6,305, respectively.  Goodwill as of March 31, 2014 pertained entirely to our Automotive segment.
Product Revenues Information by Geographic Area	Total product revenues information by geographic area is as follows:
		Three Months Ended March 31,
		2015				2014
	United States	$	95,304	46	%	$	85,067	44	%
	South Korea		22,863	11	%		21,915	11	%
	Germany		18,840	9	%		22,476	12	%
	China		17,970	9	%		15,944	8	%
	Japan		11,185	5	%		10,465	6	%
	United Kingdom		6,988	3	%		6,600	3	%
	Czech Republic		6,159	3	%		6,086	3	%
	Canada		5,485	3	%		3,162	2	%
	Mexico		5,433	3	%		4,703	2	%
	Other		16,682	8	%		17,520	9	%
	Total Non U.S.		111,605	54	%		108,871	56	%
		$	206,909	100	%	$	193,938	100	%

Debt_Tables

Debt (Tables)	3 Months Ended
	Mar. 31, 2015
Debt Disclosure [Abstract]
Summary of Company's Debt	The following table summarizes the Company’s debt at March 31, 2015 and at December 31, 2014.
		March 31, 2015						December 31,
								2014
		Interest			Principal			Principal
		Rate			Balance			Balance
	Credit Agreement:
	US Term Loan		1.78	%	$	48,750		$	49,375
	Europe Term Loan		1.51	%		20,943			23,963
	US Revolving Note		1.68	%		12,000			12,000
	DEG Loan		4.25	%		3,866			4,805
	Capital leases		4.2	%		224			632
	Total debt					85,783			90,775
	Current portion					(4,657	)		(5,306	)
	Long-term debt, less current maturities				$	81,126		$	85,469

Derivative_Financial_Instrumen1

Derivative Financial Instruments (Tables)	3 Months Ended
	Mar. 31, 2015
Derivative Instruments And Hedging Activities Disclosure [Abstract]
Information Related to Recurring Fair Value Measurement of Derivative Instruments in Our Consolidated Condensed Balance Sheet	Information related to the recurring fair value measurement of derivative instruments in our consolidated condensed balance sheet as of March 31, 2015 is as follows:
					Asset Derivatives						Liability Derivatives				Net Asset/
															(Liabilities)
		Hedge	Fair Value		Balance Sheet				Fair		Balance Sheet	Fair
		Designation	Hierarchy		Location				Value		Location	Value
	CRS	Not a hedge	Level 2								Current liabilities	$	(4,315	)
											Non-current		(9,017	)
											liabilities
	Total CRS											$	(13,332	)	$	(13,332	)
	Foreign currency derivatives	Cash flow hedge	Level 2			Current assets			$	158	Current liabilities	$	(502	)	$	(344	)
	Foreign currency derivatives	Not a hedge	Level 2			Current assets			$	2,128					$	2,128
						Non-current				4,821						4,821
						assets
	Total foreign currency derivatives								$	7,107		$	(502	)	$	6,605
	Commodity derivatives	Cash flow hedge	Level 2			Current assets			$	76					$	76
Information Related to Effect of Derivative Instruments on Our Consolidated Condensed Statements of Income	Information relating to the effect of derivative instruments on our consolidated condensed statements of income is as follows:
		Location	Three Months				Three Months
			Ended				Ended
			March 31,				March 31,
			2015				2014
	Foreign currency derivatives	Revaluation of derivatives	$	6,197		$	262
		Cost of sales		(128	)		(53	)
		Selling, general and administrative		21			(48	)
		Other comprehensive income		(347	)		61
		Foreign currency gain (loss)		207			(453	)
	Total foreign currency derivatives		$	5,950		$	(231	)
	CRS	Revaluation of derivatives	$	(7,161	)	$	(509	)
	Interest rate derivatives	Other comprehensive income	$	—		$	39
	Commodity derivatives	Other comprehensive income	$	76		$	—

Earnings_per_Share_Detail

Earnings per Share (Detail)	3 Months Ended
	Mar. 31, 2015	Mar. 31, 2014
Antidilutive Securities Excluded From Computation Of Earnings Per Share [Line Items]
Weighted average number of shares for calculation of basic EPS	35,769,190	35,063,671
Stock options under the 2006, 2011 and 2013 equity plans	475,505	528,356
Weighted average number of shares for calculation of diluted EPS	36,244,695	35,592,027

Segment_Reporting_Additional_I

Segment Reporting - Additional Information (Detail) (USD $)	Mar. 31, 2015	Dec. 31, 2014
In Thousands, unless otherwise specified
Segment Reporting Information [Line Items]
Goodwill	$27,673	$30,398
Automotive Segments
Segment Reporting Information [Line Items]
Goodwill	21,368
Industrial Segments
Segment Reporting Information [Line Items]
Goodwill	$6,305

Segment_Information_about_Repo

Segment Information about Reported Product Revenues, Depreciation and Amortization and Operating Income (Loss) (Detail) (USD $)	3 Months Ended
In Thousands, unless otherwise specified	Mar. 31, 2015	Mar. 31, 2014
Segment Reporting Information [Line Items]
Product revenues	$206,909	$193,938
Depreciation and amortization	7,459	7,473
Operating income (loss)	27,077	25,038
Operating Segments | Automotive Segments
Segment Reporting Information [Line Items]
Product revenues	199,443	193,938
Depreciation and amortization	6,316	6,482
Operating income (loss)	40,682	35,174
Operating Segments | Industrial Segments
Segment Reporting Information [Line Items]
Product revenues	7,466
Depreciation and amortization	489	107
Operating income (loss)	-1,106	-1,550
Reconciling Items
Segment Reporting Information [Line Items]
Depreciation and amortization	654	884
Operating income (loss)	($12,499)	($8,586)

Segment_Reporting_Detail

Segment Reporting (Detail) (USD $)	3 Months Ended
In Thousands, unless otherwise specified	Mar. 31, 2015	Mar. 31, 2014
Segment Reporting Information [Line Items]
Product revenues	$206,909	$193,938
Sales Revenue, Net | Geographic Concentration Risk
Segment Reporting Information [Line Items]
Total product revenues in percentage	100.00%	100.00%
United States
Segment Reporting Information [Line Items]
Product revenues	95,304	85,067
United States | Sales Revenue, Net | Geographic Concentration Risk
Segment Reporting Information [Line Items]
Total product revenues in percentage	46.00%	44.00%
South Korea
Segment Reporting Information [Line Items]
Product revenues	22,863	21,915
South Korea | Sales Revenue, Net | Geographic Concentration Risk
Segment Reporting Information [Line Items]
Total product revenues in percentage	11.00%	11.00%
Germany
Segment Reporting Information [Line Items]
Product revenues	18,840	22,476
Germany | Sales Revenue, Net | Geographic Concentration Risk
Segment Reporting Information [Line Items]
Total product revenues in percentage	9.00%	12.00%
China
Segment Reporting Information [Line Items]
Product revenues	17,970	15,944
China | Sales Revenue, Net | Geographic Concentration Risk
Segment Reporting Information [Line Items]
Total product revenues in percentage	9.00%	8.00%
Japan
Segment Reporting Information [Line Items]
Product revenues	11,185	10,465
Japan | Sales Revenue, Net | Geographic Concentration Risk
Segment Reporting Information [Line Items]
Total product revenues in percentage	5.00%	6.00%
United Kingdom
Segment Reporting Information [Line Items]
Product revenues	6,988	6,600
United Kingdom | Sales Revenue, Net | Geographic Concentration Risk
Segment Reporting Information [Line Items]
Total product revenues in percentage	3.00%	3.00%
Czech Republic
Segment Reporting Information [Line Items]
Product revenues	6,159	6,086
Czech Republic | Sales Revenue, Net | Geographic Concentration Risk
Segment Reporting Information [Line Items]
Total product revenues in percentage	3.00%	3.00%
Canada
Segment Reporting Information [Line Items]
Product revenues	5,485	3,162
Canada | Sales Revenue, Net | Geographic Concentration Risk
Segment Reporting Information [Line Items]
Total product revenues in percentage	3.00%	2.00%
Mexico
Segment Reporting Information [Line Items]
Product revenues	5,433	4,703
Mexico | Sales Revenue, Net | Geographic Concentration Risk
Segment Reporting Information [Line Items]
Total product revenues in percentage	3.00%	2.00%
Other
Segment Reporting Information [Line Items]
Product revenues	16,682	17,520
Other | Sales Revenue, Net | Geographic Concentration Risk
Segment Reporting Information [Line Items]
Total product revenues in percentage	8.00%	9.00%
Non U.S.
Segment Reporting Information [Line Items]
Product revenues	$111,605	$108,871
Non U.S. | Sales Revenue, Net | Geographic Concentration Risk
Segment Reporting Information [Line Items]
Total product revenues in percentage	54.00%	56.00%

Debt_Additional_Information_De

Debt - Additional Information (Detail)

3 Months Ended

3 Months Ended

In Thousands, unless otherwise specified

Mar. 31, 2015

Mar. 31, 2015

Mar. 31, 2015

Mar. 31, 2015

Mar. 31, 2015

Mar. 31, 2015

Mar. 31, 2015

Mar. 31, 2015

Mar. 31, 2015

Mar. 31, 2015

Mar. 31, 2015

Mar. 31, 2015

Federal Funds Rate

Federal Funds Rate

Revolving Credit Facility

US Term Note

Europe Term Loan

United State Bank Of America Credit Facility

Euro Currency Rate Loans

Euro Currency Rate Loans

Euro Currency Rate Loans

Base Rate Loans

Base Rate Loans

Minimum

Maximum

USD ($)

USD ($)

EUR (€)

Minimum

Maximum

Minimum

Maximum

Debt Instrument [Line Items]

Secured term loan facility borrowing capacity

$50,000

€ 20,000

Secured long-term debt

100,000

Line of credit facility

$50,000

Maximum percentage of stock of non US subsidiaries pledge to secure obligation

66.00%

Interest rate

0.06%

0.50%

3.25%

1.00%

1.50%

2.00%

0.50%

1.00%

Semi-annual principal payments earliest date

2015-03

Semi-annual principal payments latest date

2019-09

Summary_of_Companys_Debt_Detai

Summary of Company's Debt (Detail) (USD $)	Mar. 31, 2015	Dec. 31, 2014
In Thousands, unless otherwise specified
Debt Instrument [Line Items]
Total debt	$85,783	$90,775
Current portion	-4,657	-5,306
Long-term debt, less current maturities	81,126	85,469
US Term Note
Debt Instrument [Line Items]
Interest Rate	1.78%
Total debt	48,750	49,375
Europe Term Loan
Debt Instrument [Line Items]
Interest Rate	1.51%
Total debt	20,943	23,963
US Revolving Note
Debt Instrument [Line Items]
Interest Rate	1.68%
Total debt	12,000	12,000
DEG Loan
Debt Instrument [Line Items]
Interest Rate	4.25%
Total debt	3,866	4,805
Capital Lease
Debt Instrument [Line Items]
Interest Rate	4.20%
Total debt	$224	$632

Derivative_Financial_Instrumen2

Derivative Financial Instruments - Additional Information (Detail)	3 Months Ended				1 Months Ended			0 Months Ended	3 Months Ended
	Mar. 31, 2015	Mar. 31, 2015	Mar. 31, 2014	Mar. 31, 2015	Mar. 31, 2008	Mar. 31, 2015	Mar. 31, 2015	Mar. 25, 2013	Mar. 31, 2015	Mar. 31, 2015
		Interest Rate Swap	Interest Rate Swap	Automotive Segments	Automotive Segments	Automotive Segments	Automotive Segments	Unicredit Bank	Unicredit Bank	Unicredit Bank
		USD ($)	USD ($)		Interest Rate Swap	Interest Rate Swap	Interest Rate Swap	EUR (€)	USD ($)	EUR (€)
						USD ($)	EUR (€)
Derivative [Line Items]
Maximum length of time to hedge exposure to foreign currency exchange risk	1 year
Derivative maturity period					10 years
Notional Value						$10,740,000	€ 10,000,000
Variable Rate				six month EURIBOR
Fixed interest rate				0.09%
Basis spread on variable rate				1.40%
Exchange rate				1.05
Derivative exchange rate				1.46
Legal settlement for CRS								144,000
Costs of all future obligations under CRS									13,332,000	12,413,000
Past due payments under CRS									9,642,000	8,978,000
Hedge Ineffectiveness Incurred		$0	$0

Information_Related_to_Recurri

Information Related to Recurring Fair Value Measurement of Derivative Instruments in Our Consolidated Condensed Balance Sheet (Detail) (USD $)	Mar. 31, 2015
In Thousands, unless otherwise specified
Foreign Currency Derivatives | Not a hedge
Derivatives Fair Value [Line Items]
Asset Derivatives, Fair Value, Total	$7,107
Fair Value, Inputs, Level 2 | Currency Related Swap
Derivatives Fair Value [Line Items]
Net Asset/(Liabilities)	-13,332
Fair Value, Inputs, Level 2 | Currency Related Swap | Not a hedge
Derivatives Fair Value [Line Items]
Liability Derivatives, Fair value	-13,332
Fair Value, Inputs, Level 2 | Currency Related Swap | Not a hedge | Current Liabilities
Derivatives Fair Value [Line Items]
Liability Derivatives, Fair value	-4,315
Fair Value, Inputs, Level 2 | Currency Related Swap | Not a hedge | Non-current Liabilities
Derivatives Fair Value [Line Items]
Liability Derivatives, Fair value	-9,017
Fair Value, Inputs, Level 2 | Foreign Currency Derivatives | Designated as Hedging Instrument | Current Liabilities
Derivatives Fair Value [Line Items]
Liability Derivatives, Fair value	-502
Fair Value, Inputs, Level 2 | Foreign Currency Derivatives | Not a hedge
Derivatives Fair Value [Line Items]
Net Asset/(Liabilities)	6,605
Liability Derivatives, Fair value	-502
Fair Value, Inputs, Level 2 | Foreign Currency Derivatives | Not a hedge | Non-current Assets
Derivatives Fair Value [Line Items]
Net Asset/(Liabilities)	4,821
Asset Derivatives, Fair Value, Total	4,821
Fair Value, Inputs, Level 2 | Commodity derivatives | Designated as Hedging Instrument | Current Assets
Derivatives Fair Value [Line Items]
Net Asset/(Liabilities)	76
Asset Derivatives, Fair Value, Total	76
Fair Value, Inputs, Level 2 | Contract One | Foreign Currency Derivatives | Designated as Hedging Instrument | Current Liabilities
Derivatives Fair Value [Line Items]
Net Asset/(Liabilities)	-344
Fair Value, Inputs, Level 2 | Contract One | Foreign Currency Derivatives | Designated as Hedging Instrument | Current Assets
Derivatives Fair Value [Line Items]
Asset Derivatives, Fair Value, Total	158
Fair Value, Inputs, Level 2 | Contract Two | Foreign Currency Derivatives | Not a hedge | Current Assets
Derivatives Fair Value [Line Items]
Net Asset/(Liabilities)	2,128
Asset Derivatives, Fair Value, Total	$2,128

Information_Related_to_Effect_

Information Related to Effect of Derivative Instruments on Our Consolidated Condensed Statements of Income (Detail) (USD $)	3 Months Ended
In Thousands, unless otherwise specified	Mar. 31, 2015	Mar. 31, 2014
Derivative Instruments Gain Loss [Line Items]
Gain (loss) on derivatives	$5,950	($231)
Other Comprehensive Income (Loss) | Foreign Currency Derivatives
Derivative Instruments Gain Loss [Line Items]
Gain (loss) on derivatives	-347	61
Other Comprehensive Income (Loss) | Interest Rate Swap
Derivative Instruments Gain Loss [Line Items]
Gain (loss) on derivatives		39
Other Comprehensive Income (Loss) | Commodity derivatives
Derivative Instruments Gain Loss [Line Items]
Gain (loss) on derivatives	76
Revaluation of Derivatives | Foreign Currency Derivatives
Derivative Instruments Gain Loss [Line Items]
Gain (loss) on derivatives	6,197	262
Revaluation of Derivatives | Currency Related Swap
Derivative Instruments Gain Loss [Line Items]
Gain (loss) on derivatives	-7,161	-509
Cost of Sales | Foreign Currency Derivatives
Derivative Instruments Gain Loss [Line Items]
Gain (loss) on derivatives	-128	-53
Selling, General and Administrative Expense | Foreign Currency Derivatives
Derivative Instruments Gain Loss [Line Items]
Gain (loss) on derivatives	21	-48
Foreign Currency Gain (Loss) | Foreign Currency Derivatives
Derivative Instruments Gain Loss [Line Items]
Gain (loss) on derivatives	$207	($453)

Fair_Value_Measurement_Additio

Fair Value Measurement - Additional Information (Detail) (USD $)	3 Months Ended	12 Months Ended
	Mar. 31, 2015	Dec. 31, 2014
Fair Value Disclosures [Abstract]
Financial assets, fair value	$0	$0
Financial liabilities, fair value	0	0
Changes to fair value of assets, realized	$0	$0