Standard Motor Products (SMP) 10-Q 2 Aug 23 2023 Q2 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - shares	6 Months Ended
	Jun. 30, 2023	Jul. 28, 2023
Cover [Abstract]
Document Type	10-Q
Amendment Flag	false
Document Quarterly Report	true
Document Period End Date	Jun. 30, 2023
Current Fiscal Year End Date	--12-31
Document Fiscal Year Focus	2023
Document Fiscal Period Focus	Q2
Document Transition Report	false
Entity File Number	001-04743
Entity Registrant Name	Standard Motor Products, Inc.
Entity Central Index Key	0000093389
Entity Incorporation, State or Country Code	NY
Entity Tax Identification Number	11-1362020
Entity Address, Address Line One	37-18 Northern Blvd.
Entity Address, City or Town	Long Island City
Entity Address, State or Province	NY
Entity Address, Postal Zip Code	11101
City Area Code	718
Local Phone Number	392-0200
Title of 12(b) Security	Common Stock, par value $2.00 per share
Trading Symbol	SMP
Security Exchange Name	NYSE
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Large Accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	false
Entity Shell Company	false
Entity Common Stock, Shares Outstanding		21,725,967

CONSOLIDATED STATEMENTS OF OPER

CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($) $ in Thousands		3 Months Ended		6 Months Ended
		Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023		Jun. 30, 2022
CONSOLIDATED STATEMENTS OF OPERATIONS [Abstract]
Net sales	[1]	$ 353,075	$ 359,412	$ 681,103		$ 682,243
Cost of sales		251,806	263,061	488,567		496,052
Gross profit		101,269	96,351	192,536		186,191
Selling, general and administrative expenses		73,843	68,468	143,476		131,352
Restructuring and integration expenses		294	3	1,206	[2]	44
Other income, net		46	13	70		13
Operating income		27,178	27,893	47,924		54,808
Other non-operating income, net		802	1,927	1,027		3,376
Interest expense		3,283	1,821	7,145		2,626
Earnings from continuing operations before income taxes		24,697	27,999	41,806		55,558
Provision for income taxes		6,289	7,122	10,661		14,127
Earnings from continuing operations		18,408	20,877	31,145		41,431
Loss from discontinued operations, net of income taxes		(9,221)	(1,666)	(10,001)		(2,782)
Net earnings		9,187	19,211	21,144		38,649
Net earnings attributable to noncontrolling interest		50	85	89		77
Net earnings attributable to SMP	[3]	9,137	19,126	21,055		38,572
Net earnings attributable to SMP
Earnings from continuing operations		18,358	20,792	31,056		41,354
Discontinued operations		(9,221)	(1,666)	(10,001)		(2,782)
Net earnings attributable to SMP	[3]	$ 9,137	$ 19,126	$ 21,055		$ 38,572
Net earnings per common share - Basic:
Earnings from continuing operations (in dollars per share)		$ 0.85	$ 0.96	$ 1.43		$ 1.89
Discontinued operations (in dollars per share)		(0.43)	(0.08)	(0.46)		(0.13)
Net earnings per common share - Basic (in dollars per share)		0.42	0.88	0.97		1.76
Net earnings per common share - Diluted:
Earnings from continuing operations (in dollars per share)		0.83	0.93	1.4		1.85
Discontinued operations (in dollars per share)		(0.42)	(0.07)	(0.45)		(0.13)
Net earnings per common share - Diluted (in dollars per share)		0.41	0.86	0.95		1.72
Dividend declared per share (in dollars per share)		$ 0.29	$ 0.27	$ 0.58		$ 0.54
Average number of common shares (in shares)		21,689,067	21,757,998	21,649,562		21,867,644
Average number of common shares and dilutive common shares (in shares)		22,183,489	22,255,642	22,139,708		22,372,702
[1]There are no intersegment sales among our Vehicle Control, Temperature Control and Engineered Solutions operating segments.[2]Restructuring and integration expenses incurred during the six months ended June 30, 2023 consist of $0.4 million in our Vehicle Control segment, $0.7 million in our Temperature Control segment and $0.1 million in our Engineered Solutions segment.[3]Throughout this Form 10Q, “SMP” refers to Standard Motor Products, Inc. and subsidiaries.

CONSOLIDATED STATEMENTS OF COMP

CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022
CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME [Abstract]
Net earnings	$ 9,187	$ 19,211	$ 21,144	$ 38,649
Other comprehensive income (loss), net of tax:
Foreign currency translation adjustments	1,166	(6,528)	3,986	(7,166)
Derivative instruments	1,831	105	454	105
Pension and postretirement plans	(4)	(4)	(7)	(9)
Total other comprehensive income, net of tax	2,993	(6,427)	4,433	(7,070)
Total Comprehensive income	12,180	12,784	25,577	31,579
Comprehensive income (loss) attributable to noncontrolling interest, net of tax:
Net earnings	50	85	89	77
Foreign currency translation adjustments	(81)	(64)	(110)	(61)
Comprehensive income (loss) attributable to noncontrolling interest, net of tax	(31)	21	(21)	16
Comprehensive income attributable to SMP	$ 12,211	$ 12,763	$ 25,598	$ 31,563

CONSOLIDATED BALANCE SHEETS

CONSOLIDATED BALANCE SHEETS - USD ($) $ in Thousands	Jun. 30, 2023	Dec. 31, 2022
CURRENT ASSETS:
Cash and cash equivalents	$ 23,019	$ 21,150
Accounts receivable, less allowances for discounts and expected credit losses of $5,757 and $5,375 for 2023 and 2022, respectively	218,105	167,638
Inventories	499,134	528,715
Unreturned customer inventories	19,722	19,695
Prepaid expenses and other current assets	27,903	25,241
Total current assets	787,883	762,439
Property, plant and equipment, net of accumulated depreciation of $250,382 and $239,176 for 2023 and 2022, respectively	107,590	107,148
Operating lease right-of-use assets	73,093	49,838
Goodwill	132,391	132,087
Other intangibles, net	96,291	100,504
Deferred income taxes	33,905	33,658
Investments in unconsolidated affiliates	41,557	41,745
Other assets	29,435	27,510
Total assets	1,302,145	1,254,929
CURRENT LIABILITIES:
Current portion of revolving credit facility	53,700	50,000
Current portion of term loan and other debt	5,028	5,031
Accounts payable	94,657	89,247
Sundry payables and accrued expenses	59,126	49,990
Accrued customer returns	43,664	37,169
Accrued core liability	20,187	22,952
Accrued rebates	43,781	37,381
Payroll and commissions	28,346	31,361
Total current liabilities	348,489	323,131
Long-term debt	164,488	184,589
Noncurrent operating lease liabilities	64,271	40,709
Other accrued liabilities	24,917	22,157
Accrued asbestos liabilities	59,565	63,305
Total liabilities	661,730	633,891
Commitments and contingencies
Stockholders' equity:
Common stock - par value $2.00 per share: Authorized - 30,000,000 shares; issued 23,936,036 shares	47,872	47,872
Capital in excess of par value	106,529	105,615
Retained earnings	572,753	564,242
Accumulated other comprehensive income	(7,927)	(12,470)
Treasury stock - at cost (2,210,069 shares and 2,350,377 shares in 2023 and 2022, respectively)	(89,554)	(95,239)
Total SMP stockholders' equity	629,673	610,020
Noncontrolling interest	10,742	11,018
Total stockholders' equity	640,415	621,038
Total liabilities and stockholders' equity	$ 1,302,145	$ 1,254,929

CONSOLIDATED BALANCE SHEETS (Pa

CONSOLIDATED BALANCE SHEETS (Parenthetical) - USD ($) $ in Thousands	Jun. 30, 2023	Dec. 31, 2022
CURRENT ASSETS:
Accounts receivable, allowances for discounts and expected credit losses	$ 5,757	$ 5,375
Property, plant and equipment, accumulated depreciation	$ 250,382	$ 239,176
Stockholders' equity:
Common stock, par value (in dollars per share)	$ 2	$ 2
Common stock, shares authorized (in shares)	30,000,000	30,000,000
Common stock, shares issued (in shares)	23,936,036	23,936,036
Treasury stock - at cost (in shares)	2,210,069	2,350,377

CONSOLIDATED STATEMENTS OF CASH

CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022
CASH FLOWS FROM OPERATING ACTIVITIES:
Net earnings	$ 21,144	$ 38,649
Adjustments to reconcile net earnings to net cash provided by (used in) operating activities:
Depreciation and amortization	14,129	13,893
Amortization of deferred financing cost	248	164
Increase (decrease) to allowance for expected credit losses	204	(253)
Increase to inventory reserves	1,600	2,959
Equity income from joint ventures	(943)	(2,524)
Employee stock ownership plan allocation	1,483	1,148
Stock-based compensation	3,633	4,465
(Increase) decrease in deferred income taxes	(390)	2,090
Loss on discontinued operations, net of tax	10,001	2,782
Change in assets and liabilities:
Increase in accounts receivable	(48,271)	(49,659)
(Increase) decrease in inventories	30,924	(87,744)
Increase in prepaid expenses and other current assets	(468)	(7,102)
Increase in accounts payable	4,323	1,591
Increase (decrease) in sundry payables and accrued expenses	2,776	(5,020)
Net change in other assets and liabilities	(1,023)	(10,772)
Net cash provided by (used in) operating activities	39,370	(95,333)
CASH FLOWS FROM INVESTING ACTIVITIES:
Capital expenditures	(9,507)	(13,203)
Other investing activities	66	0
Net cash used in investing activities	(9,441)	(13,203)
CASH FLOWS FROM FINANCING ACTIVITIES:
Borrowings under the term loan	0	100,000
Repayments of term loan	(2,500)	0
Net borrowings (repayments) under revolving credit facilities	(14,000)	39,202
Net borrowings (repayments) of other debt and lease obligations	(47)	117
Purchase of treasury stock	0	(25,605)
Payments of debt issuance costs	0	(2,128)
Increase in overdraft balances	258	1,903
Dividends paid	(12,544)	(11,822)
Dividends paid to noncontrolling interest	(255)	0
Net cash provided by (used in) financing activities	(29,088)	101,667
Effect of exchange rate changes on cash	1,028	(700)
Net increase (decrease) in cash and cash equivalents	1,869	(7,569)
CASH AND CASH EQUIVALENTS at beginning of period	21,150	21,755
CASH AND CASH EQUIVALENTS at end of period	23,019	14,186
Cash paid during the period for:
Interest	7,694	2,219
Income taxes	$ 9,356	$ 18,897

CONSOLIDATED STATEMENTS OF CHAN

CONSOLIDATED STATEMENTS OF CHANGES IN STOCKHOLDERS' EQUITY - USD ($) $ in Thousands	Common Stock [Member]	Capital in Excess of Par Value [Member]	Retained Earnings [Member]	Accumulated Other Comprehensive Income (Loss) [Member]	Treasury Stock [Member]	Total SMP [Member]	Non-Controlling Interest [Member]	Total
Balance at beginning of period at Dec. 31, 2021	$ 47,872	$ 105,377	$ 532,319	$ (8,169)	$ (75,819)	$ 601,580	$ 11,047	$ 612,627
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net earnings	0	0	38,572	0	0	38,572	77	38,649
Other comprehensive income, net of tax	0	0	0	(7,009)	0	(7,009)	(61)	(7,070)
Cash dividends paid	0	0	(11,822)	0	0	(11,822)	0	(11,822)
Purchase of treasury stock	0	0	0	0	(26,496)	(26,496)	0	(26,496)
Stock-based compensation	0	3,371	0	0	1,094	4,465	0	4,465
Employee Stock Ownership Plan	0	369	0	0	1,927	2,296	0	2,296
Balance at end of period at Jun. 30, 2022	47,872	109,117	559,069	(15,178)	(99,294)	601,586	11,063	612,649
Balance at beginning of period at Mar. 31, 2022	47,872	107,606	545,830	(8,815)	(80,622)	611,871	11,042	622,913
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net earnings	0	0	19,126	0	0	19,126	85	19,211
Other comprehensive income, net of tax	0	0	0	(6,363)	0	(6,363)	(64)	(6,427)
Cash dividends paid	0	0	(5,887)	0	0	(5,887)	0	(5,887)
Purchase of treasury stock	0	0	0	0	(19,646)	(19,646)	0	(19,646)
Stock-based compensation	0	1,511	0	0	974	2,485	0	2,485
Balance at end of period at Jun. 30, 2022	47,872	109,117	559,069	(15,178)	(99,294)	601,586	11,063	612,649
Balance at beginning of period at Dec. 31, 2022	47,872	105,615	564,242	(12,470)	(95,239)	610,020	11,018	621,038
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net earnings	0	0	21,055	0	0	21,055	89	21,144
Other comprehensive income, net of tax	0	0	0	4,543	0	4,543	(110)	4,433
Cash dividends paid	0	0	(12,544)	0	0	(12,544)	0	(12,544)
Dividends paid to noncontrolling interest	0	0	0	0	0	0	(255)	(255)
Stock-based compensation	0	898	0	0	2,735	3,633	0	3,633
Employee Stock Ownership Plan	0	16	0	0	2,950	2,966	0	2,966
Balance at end of period at Jun. 30, 2023	47,872	106,529	572,753	(7,927)	(89,554)	629,673	10,742	640,415
Balance at beginning of period at Mar. 31, 2023	47,872	106,675	569,899	(11,001)	(91,801)	621,644	11,028	632,672
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net earnings	0	0	9,137	0	0	9,137	50	9,187
Other comprehensive income, net of tax	0	0	0	3,074	0	3,074	(81)	2,993
Cash dividends paid	0	0	(6,283)	0	0	(6,283)	0	(6,283)
Dividends paid to noncontrolling interest	0	0	0	0	0	0	(255)	(255)
Stock-based compensation	0	(146)	0	0	2,247	2,101	0	2,101
Balance at end of period at Jun. 30, 2023	$ 47,872	$ 106,529	$ 572,753	$ (7,927)	$ (89,554)	$ 629,673	$ 10,742	$ 640,415

Basis of Presentation

Basis of Presentation	6 Months Ended
	Jun. 30, 2023
Basis of Presentation [Abstract]
Basis of Presentation	Note 1. Basis of Presentation Standard Motor Products, Inc. and its subsidiaries (referred to hereinafter in these notes to the consolidated financial statements as “we,” “us,” “our,” “SMP,” or the “Company”) is a leading manufacturer and distributor of premium replacement parts in the automotive aftermarket, and custom-engineered solutions for vehicle control and thermal management categories in diversified end markets. We sell our products primarily to automotive aftermarket retailers, warehouse distributors, original equipment manufacturers and original equipment service part operations in the United States, Canada, Europe, Asia, Mexico and other Latin American countries. The accompanying unaudited financial information should be read in conjunction with the audited consolidated financial statements and the notes thereto included in our Annual Report on Form -K for the year ended December The unaudited consolidated financial statements include our accounts and all domestic and international companies in which we have more than a equity ownership, except in instances where the minority shareholder maintains substantive participating rights, in which case we follow the equity method of accounting. In instances where we have more than a equity ownership and the minority shareholder does not maintain substantive participating rights, our consolidated financial statements include the accounts of the company on a consolidated basis with its net income and equity reported at amounts attributable to both our equity position and that of the noncontrolling interest. Investments in unconsolidated affiliates are accounted for on the equity method, as we do not have a controlling financial interest but have the ability to exercise significant influence. All significant inter-company items have been eliminated. The accompanying unaudited consolidated financial statements have been prepared in accordance with generally accepted accounting principles for interim financial information and with the instructions to Form -Q and Rule - of Regulation S-X. Accordingly, they do not include all of the information and footnotes required by generally accepted accounting principles for complete financial statements. In the opinion of management, all adjustments (consisting of normal recurring adjustments) considered necessary for a fair presentation have been included. The results of operations for the interim periods are not necessarily indicative of the results of operations for the entire year. Reclassification Certain prior period amounts in the accompanying consolidated financial statements and related notes have been reclassified to conform to the 2023 presentation. Reportable Segments Beginning on January 1, 2023, we reorganized our business into three operating segments – Engineered Solutions, Vehicle Control and Temperature Control. The new operating segment structure provides clarity regarding the unique dynamics and margin profiles of the markets served by each segment, better aligns our operating segments with our strategic focus on diversification, and provides greater transparency into our positioning to capture growth opportunities in the future. Prior period segment results have been reclassified to conform to our operating segment reorganization. For additional information related to our segment reorganization, see Note 7, “Goodwill and Acquired Intangible Assets,” Note 16, “Industry Segments,” and Note 17, “Net Sales.”

Summary of Significant Accounti

Summary of Significant Accounting Policies	6 Months Ended
	Jun. 30, 2023
Summary of Significant Accounting Policies [Abstract]
Summary of Significant Accounting Policies	Note 2. Summary of Significant Accounting Policies The preparation of consolidated annual and quarterly financial statements in conformity with generally accepted accounting principles requires management to make estimates and assumptions that affect the reported amount of assets and liabilities, the disclosure of contingent assets and liabilities at the date of our consolidated financial statements, and the reported amounts of revenue and expenses during the reporting periods. We have made a number of estimates and assumptions in the preparation of these consolidated financial statements. We can give no assurance that actual results will not differ from those estimates. Although we do not believe that there is a reasonable likelihood that there will be a material change in the future estimates, or in the assumptions that we use in calculating the estimates, the uncertain future effects, if any, of disruptions in the supply chain, Russia’s invasion of the Ukraine and resultant sanctions imposed by the U.S. and other governments, the geo-political impact of U.S. relations with China, future increases in interest rates, inflation, macroeconomic uncertainty, and other unforeseen changes in the industry, or business, could materially impact the estimates, and may have a material adverse effect on our business, financial condition and results of operations. Some of the more significant estimates include allowances for expected credit losses, cash discounts, valuation of inventory, valuation of long-lived assets, goodwill and other intangible assets, depreciation and amortization of long-lived assets, product liability exposures, asbestos, environmental and litigation matters, valuation of deferred tax assets, share based compensation and sales returns and other allowances. There have been no material changes to our critical accounting policies and estimates from the information provided in Note 1 of the notes to our consolidated financial statements in our Annual Report on Form 10-K for the year ended December 31, 2022. Recently Issued Accounting Pronouncements Standards that are not yet adopted as of June There are no recently issued accounting pronouncements that have not been adopted as of June 30, 2023 that could have a material impact on our financial statements.

Business Acquisitions and Inves

Business Acquisitions and Investments	6 Months Ended
	Jun. 30, 2023
Business Acquisitions and Investments [Abstract]
Business Acquisitions and Investments	Note 3. Business Acquisitions and Investments 2022 Increase in Equity Investment Investment in Foshan Che Yijia New Energy Technology Co., Ltd. In August 2019, we acquired an approximate 29% minority interest in Foshan Che Yijia New Energy Technology Co., Ltd. (“CYJ”) for approximately $5.1 million. CYJ is a manufacturer of automotive electric air conditioning compressors and is located in China. We determined, at that time, that due to a lack of a voting majority and other qualitative factors, we do not control the operations of CYJ and accordingly, our investment in CYJ would be accounted for under the equity method of accounting. In October 2022, we acquired an additional 3.55% equity interest in CYJ for RMB 1.7 million (approximately $242,000), increasing our minority ownership interest in CYJ from an approximate interest of 29% to 33%. The additional acquired ownership interest in CYJ was paid for in cash funded by borrowings under our Credit Agreement with JPMorgan Chase Bank, N.A., as agent. We will continue to account for our minority interest in CYJ using the equity method of accounting. 2022 Business Acquisitions Acquisition of Capital Stock of Kade Trading GmbH (“Kade”) The following table presents the allocation of the purchase price to the assets acquired and liabilities assumed based on their fair values (in thousands): Purchase price $ 3,176 Assets acquired and liabilities assumed: Receivables $ 790 Inventory 829 Other current assets (1) 1,003 Property, plant and equipment, net 63 Operating lease right-of-use assets 401 Intangible assets 2,395 Goodwill 766 Current liabilities (1,977 ) Noncurrent operating lease liabilities (328 ) Deferred income taxes (766 ) Net assets acquired $ 3,176 (1) The other current assets balance includes of cash acquired. Intangible assets Incremental revenues from the acquired Kade business included in our consolidated statement of operations for the three months and six months ended June 30, 2023 were $1.7 million and $3.4 million, respectively .

Restructuring and Integration E

Restructuring and Integration Expenses	6 Months Ended
	Jun. 30, 2023
Restructuring and Integration Expenses [Abstract]
Restructuring and Integration Expenses	Note 4. Restructuring and Integration Expenses The aggregated liabilities included in “sundry payables and accrued expenses” and “other accrued liabilities” in the consolidated balance sheet relating to the restructuring and integration activities as of June 30, 2023 and December 31, 2022 and for the six months ended June 30, 2023, consisted of the following (in thousands): Workforce Reduction Other Exit Costs Total Exit activity liability at December 31, 2022 $ 1,521 $ — $ 1,521 Restructuring and integration costs: Amounts provided for during 2023 (1) 969 237 1,206 Cash payments (800 ) (237 ) (1,037 ) Foreign currency exchange rate changes 20 — 20 Exit activity liability at June 30, 2023 $ 1,710 $ — $ 1,710 (1) Restructuring and integration expenses incurred during the six months ended June 30, 2023 consist of $0.4 million in our Vehicle Control segment, $0.7 million in our Temperature Control segment and $0.1 million in our Engineered Solutions segment. Restructuring Costs Cost Reduction Initiative During the fourth quarter of 2022, to further our ongoing efforts to improve operating efficiencies and reduce costs, we announced plans for a reduction in our sales force, and initiated plans to relocate certain product lines from our Independence, Kansas manufacturing facility and from our St. Thomas, Canada manufacturing facility to our manufacturing facilities in Reynosa, Mexico. Restructuring expenses related to the Cost Reduction Initiative of approximately $1.2 million were incurred during the six months ended June 30, 2023 consisting of (1) expenses of approximately $1 million of employee severance and bonuses related to our product line relocations, and (2) expenses of approximately $0.2 million related to the relocation of machinery and equipment to our manufacturing facilities in Reynosa, Mexico. Cash payments made of approximately $1 million during the six months ended June 30, 2023 consisted primarily of severance payments related to the sales force reduction. Additional restructuring costs related to the initiative, and expected to be incurred, are approximately $1.6 million. We anticipate that the Cost Reduction Initiative will be completed by the end of 2023.

Sale of Receivables

Sale of Receivables	6 Months Ended
	Jun. 30, 2023
Sale of Receivables [Abstract]
Sale of Receivables	Note 5. Sale of Receivables We are party to several supply chain financing arrangements, in which we may sell certain of our customers’ trade accounts receivable to such customers’ financial institutions. We sell our undivided interests in certain of these receivables at our discretion when we determine that the cost of these arrangements is less than the cost of servicing our receivables with existing debt. Under the terms of the agreements, we retain no rights or interest, have no obligations with respect to the sold receivables, and do not service the receivables after the sale. As such, these transactions are being accounted for as a sale. Pursuant to these agreements, we sold $211.6 million and $382.5 million of receivables during the three months and six months ended June 30, 2023, To the extent that these arrangements are terminated, our financial condition, results of operations, cash flows and liquidity could be adversely affected by extended payment terms, or delays or failures in collecting trade accounts receivable. The utility of the supply chain financing arrangements also depends upon a benchmark reference rate for the purpose of determining the discount rate applicable to each arrangement. If the benchmark reference rate increases significantly, we may be negatively impacted as we may not be able to pass these added costs on to our customers, which could have a material and adverse effect upon our financial condition, results of operations and cash flows.

Inventories

Inventories	6 Months Ended
	Jun. 30, 2023
Inventories [Abstract]
Inventories	Note 6. Inventories Inventories, which are stated at the lower of cost (determined by means of the first-in, first-out method) and net realizable value, consist of the following: June 30, 2023 December 31, 2022 (In thousands) Finished goods $ 300,430 $ 324,362 Work in process 16,126 14,099 Raw materials 182,578 190,254 Subtotal 499,134 528,715 Unreturned customer inventories 19,722 19,695 Total inventories $ 518,856 $ 548,410

Goodwill and Acquired Intangibl

Goodwill and Acquired Intangible Assets	6 Months Ended
	Jun. 30, 2023
Goodwill and Acquired Intangible Assets [Abstract]
Goodwill and Acquired Intangible Assets	Note 7. Goodwill and Acquired Intangible Assets Goodwill In connection with our operating segment reorganization, we reassessed our reporting units and reallocated goodwill from the reporting units that existed prior to the change to the new reporting units, using a relative fair value allocation approach similar to that used when a portion of a reporting unit is to be disposed of. We performed goodwill impairment tests as of January 1, 2023 on both the reporting units in place prior to the change and the new reporting units, and concluded that the estimated fair values of each of the reporting units exceeded their respective carrying amounts and, therefore, no impairment charge was necessary. Acquired Intangible Assets Acquired identifiable intangible assets consist of the following: June 30, 2023 December 31, 2022 (In thousands) Customer relationships $ 159,448 $ 158,717 Patents, developed technology and intellectual property 14,123 14,123 Trademarks and trade names 8,880 8,880 Non-compete agreements 3,291 3,282 Supply agreements 800 800 Leaseholds 160 160 Total acquired intangible assets 186,702 185,962 Less accumulated amortization (1) (91,756 ) (86,945 ) Net acquired intangible assets $ 94,946 $ 99,017 (1) Applies to all intangible assets, except for trademarks and trade names totaling $2.6 million, which have indefinite useful lives and, as such, are not being amortized. Total amortization expense for acquired intangible assets was $2.1 million and $4.3 million for the three months and six months ended June 30, 2023, respectively, and $2.2 million and $4.3 million for the comparable periods in 2022. Based on the current estimated useful lives assigned to our intangible assets, amortization expense is estimated to be $4.2 million for the remainder of 2023, $8.4 million in 2024, $8.4 million in 2025, $8.4 million in 2026 and $62.9 million in the aggregate for the years 2027 through 2041.

Leases

Leases	6 Months Ended
	Jun. 30, 2023
Leases [Abstract]
Leases	Note 8. Leases We have operating and finance leases for our manufacturing facilities, warehouses, office space, automobiles, and certain equipment. Our leases have remaining lease terms of up to eleven years, some of which may include one or more five-year renewal options. We have not included any of the renewal options in our operating lease payments as we concluded that it is not reasonably certain that we will exercise any of these renewal options. Leases with an initial term of twelve months or less are not recorded on the balance sheet. Operating lease expense is recognized on a straight-line basis over the lease term. Finance leases are not material. The following tables provide quantitative disclosures related to our operating leases and include all operating leases acquired from the date of acquisition : Balance Sheet Information June 30, 2023 December 31, 2022 Assets Operating lease right-of-use assets $ 73,093 $ 49,838 Liabilities Sundry payables and accrued expenses $ 11,883 $ 10,763 Noncurrent operating lease liabilities 64,271 40,709 Total operating lease liabilities $ 76,154 $ 51,472 Weighted Average Remaining Lease Term Operating leases 8.3 Years 7 Years Weighted Average Discount Rate Operating leases 4.4 % 3.7 % Expense and Cash Flow Information Three Months Ended June 30, 2023 2022 Lease Expense Operating lease expense (a) $ 3,776 $ 2,711 Six Months Ended June 30 2023 2022 Lease Expense Operating lease expense (a) $ 6,885 $ 5,541 Supplemental Cash Flow Information Cash paid for the amounts included in the measurement of lease liabilities: Operating cash flows from operating leases $ 5,476 $ 5,397 Right-of-use assets obtained in exchange for new lease obligations: Operating leases (b) $ 30,830 $ 4,458 (a) Excludes expenses of approximately $0.4 million and $1.1 million for the three and six months ended June 30, 2023, respectively, and approximately $0.7 million and $1.1 million for the comparable periods in 2022, respectively, related to non-lease components such as maintenance, property taxes, etc., and operating lease expense for leases with an initial term of 12 months or less, which is not material. (b) Includes $27.8 million of right-of-use assets related to the lease modification and extension for our distribution center and office in Lewisville, Texas during the six months ended June 30, 2023. Minimum Lease Payments At June 30, 2023, we are obligated to make minimum lease payments through 2034, under operating leases, which are as follows (in thousands): 2023 $ 5,861 2024 12,899 2025 11,194 2026 9,892 2027 8,867 Thereafter 44,929 Total lease payments $ 93,642 Less: Interest (17,488 ) Present value of lease liabilities $ 76,154 In May 2023, we signed a lease for a new distribution facility in Shawnee, Kansas with a commencement date of July 1, 2023, and a lease termination date of November 30, 2033. The lease covers a building of 574,932 square feet. Base rent is approximately $3 million per annum beginning on December 1, 2023 increasing 3% per annum each year thereafter, plus approximately $0.5 million for taxes and maintenance commencing on July 1, 2023. The expected right-of-use asset related to the lease is approximately $26.1 million. Balance sheet lease accounting and rent expense will be recorded beginning on July 1, 2023, the lease commencement date.

Credit Facilities and Long-Term

Credit Facilities and Long-Term Debt	6 Months Ended
	Jun. 30, 2023
Credit Facilities and Long-Term Debt [Abstract]
Credit Facilities and Long-Term Debt	Note 9. Credit Facilities and Long-Term Debt Total debt outstanding is summarized as follows: June 30, 2023 December 31, 2022 (In thousands) Credit facility – term loan due 2027 $ 95,000 $ 97,500 Credit facility – revolver due 2027 128,000 142,000 Other 216 120 Total debt $ 223,216 $ 239,620 Current maturities of debt $ 58,728 $ 55,031 Long-term debt 164,488 184,589 Total debt $ 223,216 $ 239,620 Term Loan and Revolving Credit Facility In June 2022, the Company entered into a new Credit Agreement with JPMorgan Chase Bank, N.A., as administrative agent, and a syndicate of lenders (the “Credit Agreement”). The Credit Agreement provides for a $500 million credit facility comprised of a $100 million term loan facility (the “term loan”) and a $400 million multi-currency revolving credit facility available in U.S. Dollars, Euros, Sterling, Swiss Francs, Canadian Dollars and other currencies as agreed to by the administrative agent and the lenders (the “revolving facility”). The Credit Agreement replaces and refinances the 2015 Credit Agreement. Borrowings under the Credit Agreement were used to repay all outstanding borrowings under the 2015 Credit Agreement, and pay certain fees and expenses incurred in connection with the Credit Agreement, with future borrowings used for other general corporate purposes of the Company and its subsidiaries. The term loan amortizes in quarterly installments of 1.25% in each of the first four years, and quarterly installments of 2.5% in the fifth year of the Credit Agreement. The revolving facility has a $25 million sub-limit for the issuance of letters of credit and a $25 million sub-limit for the borrowing of swingline loans. The maturity date is June 1, 2027. The Company may request up to two one-year extensions of the maturity date. The Company may, upon the agreement of one or more then existing lenders or of additional financial institutions not currently party to the Credit Agreement, increase the revolving facility commitments or obtain incremental term loans by an aggregate amount not to exceed (x) the greater of (i) $168 million or (ii) 100% of consolidated EBITDA (as defined in the Credit Agreement) for the four fiscal quarters ended most recently before such date, plus (y) the amount of any voluntary prepayment of term loans, plus (z) an unlimited amount so long as, immediately after giving effect thereto, the pro forma First Lien Net Leverage Ratio (as defined in the Credit Agreement) does not exceed 2.5 to 1.0. Term loan and revolver facility borrowings in U.S. Dollars bear interest, at the Company’s election, at a rate per annum equal to Term SOFR plus 0.10% plus an applicable margin, or an alternate base rate plus an applicable margin, where the alternate base rate is the greater of the prime rate, the federal funds effective rate plus 0.50%, and one-month Term SOFR plus 0.10% plus 1.00%. Term loan borrowings were made at one-month Term SOFR. The applicable margin for the term benchmark borrowings ranges from 1.0% to 2.0%, and the applicable margin for alternate base rate borrowings ranges from 0% to 1.0%, in each case, based on the total net leverage ratio of the Company and its restricted subsidiaries. The Company may select interest periods of one, three or six months for Term SOFR borrowings. Interest is payable at the end of the selected interest period, but no less frequently than quarterly. The Company’s obligations under the Credit Agreement are guaranteed by its material domestic subsidiaries (each, a “Guarantor”), and secured by a first priority perfected security interest in substantially all of the existing and future personal property of the Company and each Guarantor, subject to certain exceptions. The collateral security described above also secures certain banking services obligations and interest rate swaps and currency or other hedging obligations of the Company owing to any of the then existing lenders or any affiliates thereof. Concurrently with the Company’s entry into the Credit Agreement, the Company also entered into a seven year interest rate swap agreement with Wells Fargo Bank, N.A., Co-Syndication Agent and lender under the Credit Agreement, on $100 million of borrowings under the Credit Agreement. The interest rate swap agreement matures in May 2029. Outstanding borrowings at June 30, 2023 under the Credit Agreement were $223 million, consisting of current borrowings of $58.7 million and long-term debt of $164.3 million; while outstanding borrowings at December 31, 2022 were $239.5 million, consisting of current borrowings of $55 million and long-term debt of $184.5 million. Letters of credit outstanding under the Credit Agreement were $2.4 million at both June 30, 2023 and December 31, 2022. At June 30, 2023, the weighted average interest rate under our Credit Agreement was 5.6%, which consisted of $223 million in borrowings under Term SOFR, adjusted for the impact of the interest rate swap agreement on $100 million of borrowings. At December 31, 2022, the weighted average interest rate under our Credit Agreement was 5.2%, which consisted of $237 million in borrowings at 5.2% under Term SOFR, adjusted for the impact of the interest rate swap agreement on $100 million of borrowings, and an alternative base rate borrowing of $2.5 million at 8%. During the six months ended June 30, 2023, our average daily alternative base rate loan balance was $0.2 million, compared to a balance of $10.8 million for the six months ended June 30, 2022 and a balance of $5.6 million for the year ended December 31, 2022. The Credit Agreement contains customary covenants limiting, among other things, the incurrence of additional indebtedness, the creation of liens, mergers, consolidations, liquidations and dissolutions, sales of assets, dividends and other payments in respect of equity interests, acquisitions, investments, loans and guarantees, subject, in each case, to customary exceptions, thresholds and baskets. The Credit Agreement also contains customary events of default. Polish Overdraft Facility In October 2022, our Polish subsidiary, SMP Poland sp. z.o.o., amended its overdraft facility with HSBC Continental Europe (Spolka Akcyjna) Oddzial w Polsce to provide for borrowings under the facility in Euros and U.S. Dollars. Under the amended terms, the overdraft facility provides for borrowings of up to Zloty 30 million (approximately $7.3 million) if borrowings are solely in Zloty, or up to 85% of the Zloty 30 million limit (approximately $6.2 million) if borrowings are in Euros and/or U.S. Dollars. The overdraft facility has an initial maturity date in December 2022, with automatic three-month renewals until June 2027, subject to cancellation by either party, at its sole discretion, at least 30 days prior to the commencement of the three-month renewal period. Borrowings under the amended overdraft facility will bear interest at a rate equal to (1) the one month Warsaw Interbank Offered Rate (“WIBOR”) + 1.5% for borrowings in Polish Zloty, (2) the one month Euro Interbank Offered Rate (“EURIBOR”) + 1.5% for borrowings in Euros, and (3) the Mid-Point of the Fed Target Range + 1.75% for borrowings in U.S. Dollars. Borrowings under the overdraft facility are guaranteed by Standard Motor Products, Inc., the ultimate parent company. There were no borrowings outstanding under the overdraft facility at both June 30, 2023 and December 31, 2022. Maturities of Debt As of June 30, 2023, maturities of debt through 2027, assuming no prepayments, are as follows (in thousands): Revolving Credit Facility Term Loan Facility Polish Overdraft Facility and Other Debt Total Remainder of 2023 $ — $ 2,500 $ 14 $ 2,514 2024 — 5,000 28 5,028 2025 — 5,000 30 5,030 2026 — 7,500 46 7,546 2027 128,000 75,000 98 203,098 Total $ 128,000 $ 95,000 $ 216 $ 223,216 Less: current maturities (53,700 ) (5,000 ) (28 ) (58,728 ) Long-term debt $ 74,300 $ 90,000 $ 188 $ 164,488 Deferred Financing Costs We have deferred financing costs of approximately $1.8 million and $2.1 million as of June 30, 2023 and December 31, 2022, respectively. Deferred financing costs are related to our term loan and revolving credit facilities. Deferred financing costs as of June 30, 2023, assuming no prepayments, are being amortized in the amounts of $0.2 million for the remainder of 2023, $0.5 million in 2024, $0.5 million in 2025, $0.5 million in 2026 and $0.1 million in 2027.

Accumulated Other Comprehensive

Accumulated Other Comprehensive Income	6 Months Ended
	Jun. 30, 2023
Accumulated Other Comprehensive Income [Abstract]
Accumulated Other Comprehensive Income	Note 10. Accumulated Other Comprehensive Income Changes in Accumulated Other Comprehensive Income by Component (in thousands) Three Months Ended June 30, 2023 Foreign Currency Translation Unrecognized Postretirement Benefit Costs (Credit) Unrealized derivative gains (losses) Total Balance at March 31, 2023 $ (13,481 ) $ 34 $ 2,446 $ (11,001 ) Other comprehensive income before reclassifications 1,247 — 2,262 (1) 3,509 Amounts reclassified from accumulated other comprehensive income — (4 ) (431 ) (435 ) Other comprehensive income, net 1,247 (4 ) 1,831 3,074 Balance at June 30 2023 $ (12,234 ) $ 30 $ 4,277 $ (7,927 ) Six Months Ended June 30, 2023 Foreign Currency Translation Unrecognized Postretirement Benefit Costs (Credit) Unrealized derivative gains (losses) Total Balance at December 31, 2022 $ (16,330 ) $ 37 $ 3,823 $ (12,470 ) Other comprehensive income before reclassifications 4,096 — 1,223 (1) 5,319 Amounts reclassified from accumulated other comprehensive income — (7 ) (769 ) (776 ) Other comprehensive income, net 4,096 (7 ) 454 4,543 Balance at June 30 2023 $ (12,234 ) $ 30 $ 4,277 $ (7,927 ) (1) Consists of the unrecognized gain relating to the change in fair value of the cash flow interest rate hedge of $ 3.1 2.3 1.6 1.2 0.6 0.4 1 0.8 Reclassifications Out of Accumulated Other Comprehensive Income (in thousands) Three Months Ended Six Months Ended Details About Accumulated Other Comprehensive Income Components June 30, 2023 June 30, 2023 Derivative cash flow hedge: Unrecognized gain (loss) (1) $ (583 ) $ (1,039 ) Postretirement Benefit Plans: Unrecognized gain (loss) (2) (5 ) (11 ) Total before income tax (588 ) (1,050 ) Income tax expense (153 ) (274 ) Total reclassifications attributable to SMP $ (435 ) $ (776 ) (1) Unrecognized accumulated other comprehensive income (loss) related to the cash flow interest rate hedge is reclassified to earnings and reported as part of interest expense in our consolidated statements of operations when the interest payments on the underlying borrowings are recognized. (2) Unrecognized accumulated other comprehensive income (loss) related to our post retirement plans is reclassified to earnings and included in the computation of net periodic postretirement benefit costs, whic

Stock-Based Compensation Plans

Stock-Based Compensation Plans	6 Months Ended
	Jun. 30, 2023
Stock-Based Compensation Plans [Abstract]
Stock-Based Compensation Plans	Note 11. Stock-Based Compensation Plans We account for our stock-based compensation plans in accordance with the provisions of FASB ASC 718, Stock Compensation Restricted and Performance Stock Grants We are authorized to issue, among other things, shares of restricted and performance-based stock to eligible employees and restricted stock to directors of up to shares under the Amended and Restated Omnibus Incentive Plan (“Plan”). As part of the Plan, we currently grant shares of restricted stock to eligible employees and our independent directors and performance-based shares to eligible employees. We grant eligible employees types of restricted stock (standard restricted shares and long-term retention restricted shares). Standard restricted shares granted to employees become fully vested no earlier than after the date of grant. Long-term retention restricted shares granted to selected executives vest at a rate on or within approximately of an executive reaching the ages 60 and 63 and become fully vested on or within approximately of an executive reaching the age 65 Restricted shares granted to directors become fully vested upon the first anniversary of the date of grant. Performance-based shares issued to eligible employees are subject to a three-year measuring period and the achievement of performance targets and, depending upon the achievement of such performance targets, they may become vested no earlier than three years after the date of grant. Each period we evaluate the probability of achieving the applicable targets, and we adjust our accrual accordingly. Restricted shares (other than long-term retention restricted shares) and performance shares issued to certain key executives and directors are subject to a one Our : Shares Weighted Average Grant Date Fair Value Per Share Balance at 2022 880,829 $ 31.79 Granted 6,000 31.63 Vested (56,978 ) 32.37 Forfeited (3,875 ) 40.12 Balance at June 30 2023 825,976 $ 31.76 We recorded compensation expense related to restricted shares and performance-based shares of $ million ($ million, net of tax) and $ million ($ million, net of tax) for the six . The unamortized compensation expense related to our restricted and performance-based shares was $ million at June 30, 2023, and is expected to be recognized as they vest over a weighted average period of years and years for employees and directors, respectively.

Employee Benefits

Employee Benefits	6 Months Ended
	Jun. 30, 2023
Employee Benefits [Abstract]
Employee Benefits	Note 12. Employee Benefits We provide certain medical and dental care benefits to former U.S. union employees. We maintain a defined contribution Supplemental Executive Retirement Plan for key employees. Under the plan, these employees may elect to defer a portion of their compensation and, in addition, we may at our discretion make contributions to the plan on behalf of the employees. In March 2023, we made company contributions to the plan of $0.8 million related to calendar year 2022. We also have an Employee Stock Ownership Plan for employees who are not covered by a collective bargaining agreement. In connection therewith, we maintain an employee benefits trust to which we contribute shares of treasury stock. We are authorized to instruct the trustees to distribute such shares toward the satisfaction of our future obligations under the plan. The shares held in trust are not considered outstanding for purposes of calculating earnings per share until they are committed to be released. The trustees will vote the shares in accordance with their fiduciary duties. During the six months ended June 30, 2023, we contributed to the trust an additional shares from our treasury and released shares from the trust leaving shares remaining in the trust as of June 30, 2023.

Derivative Financial Instrument

Derivative Financial Instruments	6 Months Ended
	Jun. 30, 2023
Derivative Financial Instruments [Abstract]
Derivative Financial Instruments	Note 13. Derivative Financial Instruments Interest Rate Swap Agreements We occasionally use derivative financial instruments to reduce our market risk for changes in interest rates on our variable rate borrowings. The principal financial instruments used for cash flow hedging purposes are interest rate swap agreements. The interest rate swaps effectively convert a portion of our variable rate borrowings under our existing facilities to a fixed rate based upon determined notional amount. We do not enter into interest rate swap agreements, or other financial instruments, for trading or speculative purposes. In June 2022, we entered into a seven year interest rate swap agreement with a notional amount of $100 million that is to mature in May 2029 The fair value of the interest rate swap agreement as of June 30, 2023

Fair Value Measurements

Fair Value Measurements	6 Months Ended
	Jun. 30, 2023
Fair Value Measurements [Abstract]
Fair Value Measurements	Note 14. Fair Value Measurements We follow a three-level fair value hierarchy that prioritizes the inputs to measure fair value. This hierarchy requires entities to maximize the use of “observable inputs” and minimize the use of “unobservable inputs.” The three levels of inputs used to measure fair value are as follows: Level 1: Quoted prices (unadjusted) for identical assets or liabilities in active markets as of the measurement date. Level 2: Significant other observable inputs other than Level 1 prices such as quoted prices for similar assets or liabilities; quoted prices in markets that are not active; or other inputs that are observable or can be corroborated by observable market data. Level 3: Significant unobservable inputs that reflect assumptions that market participants would use in pricing an asset or liability. The following is a summary of the estimated fair values, carrying amounts, and classification under the fair value hierarchy of our financial instruments at June 30, 2023 and December 31, 2022 (in thousands): June 30, 2023 December 31, 2022 Fair Value Hierarchy Fair Value Carrying Amount Fair Value Carrying Amount Cash and cash equivalents LEVEL 1 $ 23,019 $ 23,019 $ 21,150 $ 21,150 Deferred compensation LEVEL 1 23,104 23,104 20,190 20,190 Short term borrowings LEVEL 1 58,728 58,728 55,031 55,031 Long-term debt LEVEL 1 164,488 164,488 184,589 184,589 Cash flow interest rate swap LEVEL 2 5,786 5,786 5,174 5,174 The carrying value of cash and cash equivalents approximates fair value due to the short maturity of those investments. The fair value of the underlying assets held by the deferred compensation plan are based on the quoted market prices of the underlying funds which are held by registered investment companies. The carrying value of our variable rate short-term borrowings and long-term debt under our credit facilities approximates fair value as the variable interest rates in the facilities reflect current market rates. The fair value of our cash flow interest rate swap agreement is obtained from an

Earnings Per Share

Earnings Per Share	6 Months Ended
	Jun. 30, 2023
Earnings Per Share [Abstract]
Earnings Per Share	Note 15. Earnings Per Share The Three Months Ended June 30, Six June 30, 2023 2022 2023 2022 N et Earnings Attributable to SMP - Earnings from continuing operations $ 18,358 $ 20,792 $ 31,056 $ 41,354 Loss from discontinued operations (9,221 ) (1,666 ) (10,001 ) (2,782 ) Net earnings attributable to SMP $ 9,137 $ 19,126 $ 21,055 $ 38,572 Basic Net Earnings Per Common Share Attributable to SMP - Earnings from continuing operations per common share $ 0.85 $ 0.96 $ 1.43 $ 1.89 Loss from discontinued operations per common share (0.43 ) (0.08 ) (0.46 ) (0.13 ) Net earnings per common share attributable to SMP $ 0.42 $ 0.88 $ 0.97 $ 1.76 Weighted average common shares outstanding 21,689 21,758 21,650 21,868 Diluted Net Earnings Per Common Share Attributable to SMP - Earnings from continuing operations per common share $ 0.83 $ 0.93 $ 1.40 $ 1.85 Loss from discontinued operations per common share (0.42 ) (0.07 ) (0.45 ) (0.13 ) Net earnings per common share attributable to SMP $ 0.41 $ 0.86 $ 0.95 $ 1.72 Weighted average common shares outstanding 21,689 21,758 21,650 21,868 Plus incremental shares from assumed conversions: Dilutive effect of restricted stock and performance-based stock 494 498 490 505 Weighted average common shares outstanding – Diluted 22,183 22,256 22,140 22,373 The Three Months Ended June 30, Six Months Ended June 30, 2023 2022 2023 2022 Restricted and performance-based shares 273 268 286 262

Industry Segments

Industry Segments	6 Months Ended
	Jun. 30, 2023
Industry Segments [Abstract]
Industry Segments	Note 16. Industry Segments Beginning on January 1, 2023, we reorganized our business into three operating segments – Engineered Solutions Vehicle Control and Temperature Control. Engineered Solutions is a new operating segment created by carving out all non-aftermarket business from our prior Engine Management and Temperature Control operating segments. Our Engineered Solutions segment supplies custom-engineered solutions to vehicle and equipment manufacturers in highly diversified global end-markets such as commercial and light vehicles, construction, agriculture, power sports and marine. Vehicle Control Temperature Control The following tables show our net sales and operating income for each reportable operating segment (in thousands): Three Months Ended Six Months Ended June 30, June 30, 2023 2022 2023 2022 Net Sales (a) Vehicle Control $ 183,789 $ 185,771 $ 368,366 $ 363,035 Temperature Control 97,074 105,637 169,480 178,695 Engineered Solutions 72,212 68,004 143,257 140,513 Other — — — — Consolidated $ 353,075 $ 359,412 $ 681,103 $ 682,243 Operating Income Vehicle Control $ 19,273 $ 16,059 $ 36,648 $ 36,403 Temperature Control 5,800 10,523 7,884 14,685 Engineered Solutions 6,163 5,109 11,810 11,397 Other (4,058 ) (3,798 ) (8,418 ) (7,677 ) Consolidated $ 27,178 $ 27,893 $ 47,924 $ 54,808 (a) There are no intersegment sales among our Vehicle Control, Temperature Control and Engineered Solutions operating segments. For the disaggregation of our net sales from contracts with customers by major product group and geographic area within each of our operating segments, see Note 17, “Net Sales.”

Net Sales

Net Sales	6 Months Ended
	Jun. 30, 2023
Net Sales [Abstract]
Net Sales	Note 17. Net Sales Disaggregation of Net Sales We disaggregate our net sales from contracts with customers by major product group and geographic area within each of our segments, as we believe it best depicts how the nature, amount, timing and uncertainty of our net sales are affected by economic factors. Major Product Group The Vehicle Control operating segment generates its revenues from core aftermarket sales of ignition, emissions, and fuel delivery, electrical and safety, and wire sets and other product categories. The Temperature Control The following table summarizes consolidated net sales by major product group within each operating segment for the three months and six months ended June 30, 2023 and 2022 (in thousands): Three Months Ended Six Months Ended June 30, June 30, 2023 2022 2023 2022 Vehicle Control Engine Management (Ignition, Emissions and Fuel Delivery) $ 113,589 $ 111,581 $ 229,672 $ 220,730 Electrical and Safety 52,867 57,054 104,671 109,311 Wire Sets and Other 17,333 17,136 34,023 32,994 Total Vehicle Control 183,789 185,771 368,366 363,035 Temperature Control AC System Components 74,449 81,608 120,201 128,982 Other Thermal Components 22,625 24,029 49,279 49,713 Total Temperature Control 97,074 105,637 169,480 178,695 Engineered Solutions Commercial Vehicle 26,742 19,503 46,599 40,954 Construction/Agriculture 8,103 11,222 20,898 22,206 Light Vehicle 23,548 23,039 46,514 49,114 All Other 13,819 14,240 29,246 28,239 Total Engineered Solutions 72,212 68,004 143,257 140,513 Other — — — — Total $ 353,075 $ 359,412 $ 681,103 $ 682,243 Geographic Area We sell our line of products primarily in the United States, with additional sales in Canada, Mexico, Europe, Asia and Latin America. Sales are attributed to countries based upon the location of the customer. Our sales are substantially denominated in U.S. dollars. The following tables provide disaggregation of net sales information by geographic area within each operating segment for the three months and six months ended June 30, 2023 and 2022 (in thousands): Three months ended June 30, 2023 Vehicle Control Temperature Control Engineered Solutions Other Total Geographic Area: United States $ 165,198 $ 92,099 $ 44,565 $ — $ 301,862 Canada 8,834 4,926 6,126 — 19,886 Europe 248 — 14,914 — 15,162 Mexico 8,179 18 2,038 — 10,235 Asia 88 — 4,273 — 4,361 Other foreign 1,242 31 296 — 1,569 Total $ 183,789 $ 97,074 $ 72,212 $ — $ 353,075 Three months ended June 30, 2022 Vehicle Control Temperature Control Engineered Solutions Other Total Geographic Area: United States $ 171,083 $ 101,204 $ 50,311 $ — $ 322,598 Canada 7,205 4,089 3,943 — 15,237 Europe 176 20 10,251 — 10,447 Mexico 6,000 105 666 — 6,771 Asia 78 21 2,565 — 2,664 Other foreign 1,229 198 268 — 1,695 Total $ 185,771 $ 105,637 $ 68,004 $ — $ 359,412 Six months ended June 30, 2023 Vehicle Control Temperature Control Engineered Solutions Other Total Geographic Area: United States $ 331,610 $ 161,670 $ 88,771 $ — $ 582,051 Canada 17,164 7,681 11,364 — 36,209 Europe 446 — 29,998 — 30,444 Mexico 16,766 18 3,806 — 20,590 Asia 150 20 8,327 — 8,497 Other foreign 2,230 91 991 — 3,312 Total $ 368,366 $ 169,480 $ 143,257 $ — $ 681,103 Six months ended June 30, 2022 Vehicle Control Temperature Control Engineered Solutions Other Total Geographic Area: United States $ 332,154 $ 170,516 $ 97,200 $ — $ 599,870 Canada 15,913 7,588 7,445 — 30,946 Europe 368 35 21,581 — 21,984 Mexico 12,083 189 2,290 — 14,562 Asia 158 43 10,966 — 11,167 Other foreign 2,359 324 1,031 — 3,714 Total $ 363,035 $ 178,695 $ 140,513 $ — $ 682,243

Commitments and Contingencies

Commitments and Contingencies	6 Months Ended
	Jun. 30, 2023
Commitments and Contingencies [Abstract]
Commitments and Contingencies	Note 18. Commitments and Contingencies Asbestos In 1986, we acquired a brake business, which we subsequently sold in March 1998 and which is accounted for as a discontinued operation in the accompanying statement of operations. When we originally acquired this brake business, we assumed future liabilities relating to any alleged exposure to asbestos-containing products manufactured by the seller of the acquired brake business. In accordance with the related purchase agreement, we agreed to assume the liabilities for all new claims filed on or after September 2001. Our ultimate exposure will depend upon the number of claims filed against us on or after September 2001, and the amounts paid for settlements, awards of asbestos-related damages, and defense of such claims. At June 30, 2023, approximately 1,465 cases were outstanding for which we may be responsible for any related liabilities. Since inception in September 2001 through June 30, 2023, the amounts paid for settled claims and awards of asbestos-related damages, including interest, were approximately $68.3 million. We do not have insurance coverage for the indemnity and defense costs associated with the claims we face. In evaluating our potential asbestos-related liability, we have considered various factors including, among other things, an actuarial study of the asbestos related liabilities performed by an independent actuarial firm, our settlement amounts and whether there are any co-defendants, the jurisdiction in which lawsuits are filed, and the status and results of such claims. As is our accounting policy, we consider the advice of actuarial consultants with experience in assessing asbestos-related liabilities to estimate our potential claim liability; and perform an actuarial evaluation in the third quarter of each year and whenever events or changes in circumstances indicate that additional provisions may be necessary. The methodology used to project asbestos-related liabilities and costs in our actuarial study considered: (1) historical data available from publicly available studies; (2) an analysis of our recent claims history to estimate likely filing rates into the future; (3) an analysis of our currently pending claims; (4) an analysis of our settlements and awards of asbestos-related damages to date; and (5) an analysis of closed claims with pay ratios and lag patterns in order to develop average future settlement values. Based on the information contained in the actuarial study and all other available information considered by us, we have concluded that no amount within the range of settlement payments and awards of asbestos-related damages was more likely than any other and, therefore, in assessing our asbestos liability we compare the low end of the range to our recorded liability to determine if an adjustment is required. In accordance with our policy to perform an annual actuarial evaluation in the third quarter of each year, an actuarial study was performed as of August 31, 2022. The results of the August 31, 2022 study included an estimate of our undiscounted liability for settlement payments and awards of asbestos-related damages, excluding legal costs, ranging from $68.8 million to $111.6 million for the period through 2065. The change from the prior year study, which was as of August 31,2021, was a $7.9 million increase for the low end of the range and an $11.4 million increase for the high end of the range. The increase in the estimated undiscounted liability from the prior year study at both the low end and high end of the range reflects our actual experience, our historical data and certain assumptions with respect to events that may occur in the future. Based upon the results of the August 31, 2022 actuarial study, in September 2022 we increased our asbestos liability to $68.8 million, the low end of the range, and recorded an incremental pre-tax provision of $18.5 million in earnings (loss) from discontinued operations in the accompanying statement of operations. Future legal costs, which are expensed as incurred and reported in earnings (loss) from discontinued operations in the accompanying statement of operations, are estimated, according to the August 31, 2022 study, to range from $53.2 million to $105.7 million for the period through 2065. Total operating cash outflows related to discontinued operations, which include settlements, awards of asbestos-related damages and legal costs, net of taxes, were $4.5 million and $9.5 million for the six months ended June 30, 2023 and 2022, respectively. We plan to perform an annual actuarial evaluation during the third quarter of each year for the foreseeable future and whenever events or changes in circumstances indicate that additional provisions may be necessary. Given the uncertainties associated with projecting such matters into the future and other factors outside our control, we can give no assurance that additional provisions will not be required. We will continue to monitor events and changes in circumstances surrounding these potential liabilities in determining whether to perform additional actuarial evaluations and whether additional provisions may be necessary. At the present time, however, we do not believe that any additional provisions would be reasonably likely to have a material adverse effect on our liquidity or consolidated financial position. Other Litigation In connection with the aforementioned former brake business, we were subject to a legal proceeding alleging a breach of contract claim of the related purchase agreement. On May 11, 2023, we were found liable for approximately $11 million. Although it is expected that the Court will finalize its judgment by the end of the third quarter of 2023, we recorded a pre-tax provision of $11 million in earnings (loss) from discontinued operations in the accompanying statement of operations in the second quarter of 2023. We are currently involved in various other legal claims and legal proceedings (some of which may involve substantial amounts), including claims related to commercial disputes, product liability, employment, and environmental. Although these legal claims and legal proceedings are subject to inherent uncertainties, based on our understanding and evaluation of the relevant facts and circumstances, we believe that the ultimate outcome of these matters will not, either individually or in the aggregate, have a material adverse effect on our . We may at any time determine that settling any of these matters is in our best interests, which settlement may include substantial payments. Warranties We generally warrant our products against certain manufacturing and other defects. These product warranties are provided for specific periods of time of the product depending on the nature of the product. As of June 30, 2023 and 2022, we have accrued $23.6 million and $23.8 million, respectively, for estimated product warranty claims included in accrued customer returns. The accrued product warranty costs are based primarily on historical experience of actual warranty claims. The following table provides the changes in our product warranties (in thousands): Three Months Ended Six Months Ended June 30, June 30, 2023 2022 2023 2022 Balance, beginning of period $ 20,600 $ 20,711 $ 19,667 $ 17,463 Liabilities accrued for current year sales 30,047 30,295 55,840 52,921 Settlements of warranty claims (27,061 ) (27,240 ) (51,921 ) (46,618 ) Balance, end of period $ 23,586 $ 23,766 $ 23,586 $ 23,766

Basis of Presentation (Policies

Basis of Presentation (Policies)	6 Months Ended
	Jun. 30, 2023
Basis of Presentation [Abstract]
Principles of Consolidation	Standard Motor Products, Inc. and its subsidiaries (referred to hereinafter in these notes to the consolidated financial statements as “we,” “us,” “our,” “SMP,” or the “Company”) is a leading manufacturer and distributor of premium replacement parts in the automotive aftermarket, and custom-engineered solutions for vehicle control and thermal management categories in diversified end markets. We sell our products primarily to automotive aftermarket retailers, warehouse distributors, original equipment manufacturers and original equipment service part operations in the United States, Canada, Europe, Asia, Mexico and other Latin American countries. The accompanying unaudited financial information should be read in conjunction with the audited consolidated financial statements and the notes thereto included in our Annual Report on Form -K for the year ended December The unaudited consolidated financial statements include our accounts and all domestic and international companies in which we have more than a equity ownership, except in instances where the minority shareholder maintains substantive participating rights, in which case we follow the equity method of accounting. In instances where we have more than a equity ownership and the minority shareholder does not maintain substantive participating rights, our consolidated financial statements include the accounts of the company on a consolidated basis with its net income and equity reported at amounts attributable to both our equity position and that of the noncontrolling interest. Investments in unconsolidated affiliates are accounted for on the equity method, as we do not have a controlling financial interest but have the ability to exercise significant influence. All significant inter-company items have been eliminated. The accompanying unaudited consolidated financial statements have been prepared in accordance with generally accepted accounting principles for interim financial information and with the instructions to Form -Q and Rule - of Regulation S-X. Accordingly, they do not include all of the information and footnotes required by generally accepted accounting principles for complete financial statements. In the opinion of management, all adjustments (consisting of normal recurring adjustments) considered necessary for a fair presentation have been included. The results of operations for the interim periods are not necessarily indicative of the results of operations for the entire year.
Reclassification	Reclassification Certain prior period amounts in the accompanying consolidated financial statements and related notes have been reclassified to conform to the 2023 presentation.
Reportable Segments	Reportable Segments Beginning on January 1, 2023, we reorganized our business into three operating segments – Engineered Solutions, Vehicle Control and Temperature Control. The new operating segment structure provides clarity regarding the unique dynamics and margin profiles of the markets served by each segment, better aligns our operating segments with our strategic focus on diversification, and provides greater transparency into our positioning to capture growth opportunities in the future. Prior period segment results have been reclassified to conform to our operating segment reorganization. For additional information related to our segment reorganization, see Note 7, “Goodwill and Acquired Intangible Assets,” Note 16, “Industry Segments,” and Note 17, “Net Sales.”

Summary of Significant Accoun_2

Summary of Significant Accounting Policies (Policies)	6 Months Ended
	Jun. 30, 2023
Summary of Significant Accounting Policies [Abstract]
Recently Issued Accounting Pronouncements	Recently Issued Accounting Pronouncements Standards that are not yet adopted as of June There are no recently issued accounting pronouncements that have not been adopted as of June 30, 2023 that could have a material impact on our financial statements.

Business Acquisitions and Inv_2

Business Acquisitions and Investments (Tables)	6 Months Ended
	Jun. 30, 2023
Kade [Member]
Business Acquisition [Line Items]
Allocation of Purchase Price, Assets Acquired And Liabilities Assumed	The following table presents the allocation of the purchase price to the assets acquired and liabilities assumed based on their fair values (in thousands): Purchase price $ 3,176 Assets acquired and liabilities assumed: Receivables $ 790 Inventory 829 Other current assets (1) 1,003 Property, plant and equipment, net 63 Operating lease right-of-use assets 401 Intangible assets 2,395 Goodwill 766 Current liabilities (1,977 ) Noncurrent operating lease liabilities (328 ) Deferred income taxes (766 ) Net assets acquired $ 3,176 (1) The other current assets balance includes of cash acquired.

Restructuring and Integration_2

Restructuring and Integration Expenses (Tables)	6 Months Ended
	Jun. 30, 2023
Restructuring and Integration Expenses [Abstract]
Restructuring and Integration Expense	The aggregated liabilities included in “sundry payables and accrued expenses” and “other accrued liabilities” in the consolidated balance sheet relating to the restructuring and integration activities as of June 30, 2023 and December 31, 2022 and for the six months ended June 30, 2023, consisted of the following (in thousands): Workforce Reduction Other Exit Costs Total Exit activity liability at December 31, 2022 $ 1,521 $ — $ 1,521 Restructuring and integration costs: Amounts provided for during 2023 (1) 969 237 1,206 Cash payments (800 ) (237 ) (1,037 ) Foreign currency exchange rate changes 20 — 20 Exit activity liability at June 30, 2023 $ 1,710 $ — $ 1,710 (1) Restructuring and integration expenses incurred during the six months ended June 30, 2023 consist of $0.4 million in our Vehicle Control segment, $0.7 million in our Temperature Control segment and $0.1 million in our Engineered Solutions segment.

Inventories (Tables)

Inventories (Tables)	6 Months Ended
	Jun. 30, 2023
Inventories [Abstract]
Inventories	Inventories, which are stated at the lower of cost (determined by means of the first-in, first-out method) and net realizable value, consist of the following: June 30, 2023 December 31, 2022 (In thousands) Finished goods $ 300,430 $ 324,362 Work in process 16,126 14,099 Raw materials 182,578 190,254 Subtotal 499,134 528,715 Unreturned customer inventories 19,722 19,695 Total inventories $ 518,856 $ 548,410

Goodwill and Acquired Intangi_2

Goodwill and Acquired Intangible Assets (Tables)	6 Months Ended
	Jun. 30, 2023
Goodwill and Acquired Intangible Assets [Abstract]
Acquired Identifiable Intangible Assets	Acquired identifiable intangible assets consist of the following: June 30, 2023 December 31, 2022 (In thousands) Customer relationships $ 159,448 $ 158,717 Patents, developed technology and intellectual property 14,123 14,123 Trademarks and trade names 8,880 8,880 Non-compete agreements 3,291 3,282 Supply agreements 800 800 Leaseholds 160 160 Total acquired intangible assets 186,702 185,962 Less accumulated amortization (1) (91,756 ) (86,945 ) Net acquired intangible assets $ 94,946 $ 99,017 (1) Applies to all intangible assets, except for trademarks and trade names totaling $2.6 million, which have indefinite useful lives and, as such, are not being amortized.

Leases (Tables)

Leases (Tables)	6 Months Ended
	Jun. 30, 2023
Leases [Abstract]
Quantitative Disclosures Related to Operating Leases	The following tables provide quantitative disclosures related to our operating leases and include all operating leases acquired from the date of acquisition : Balance Sheet Information June 30, 2023 December 31, 2022 Assets Operating lease right-of-use assets $ 73,093 $ 49,838 Liabilities Sundry payables and accrued expenses $ 11,883 $ 10,763 Noncurrent operating lease liabilities 64,271 40,709 Total operating lease liabilities $ 76,154 $ 51,472 Weighted Average Remaining Lease Term Operating leases 8.3 Years 7 Years Weighted Average Discount Rate Operating leases 4.4 % 3.7 % Expense and Cash Flow Information Three Months Ended June 30, 2023 2022 Lease Expense Operating lease expense (a) $ 3,776 $ 2,711 Six Months Ended June 30 2023 2022 Lease Expense Operating lease expense (a) $ 6,885 $ 5,541 Supplemental Cash Flow Information Cash paid for the amounts included in the measurement of lease liabilities: Operating cash flows from operating leases $ 5,476 $ 5,397 Right-of-use assets obtained in exchange for new lease obligations: Operating leases (b) $ 30,830 $ 4,458 (a) Excludes expenses of approximately $0.4 million and $1.1 million for the three and six months ended June 30, 2023, respectively, and approximately $0.7 million and $1.1 million for the comparable periods in 2022, respectively, related to non-lease components such as maintenance, property taxes, etc., and operating lease expense for leases with an initial term of 12 months or less, which is not material. (b) Includes $27.8 million of right-of-use assets related to the lease modification and extension for our distribution center and office in Lewisville, Texas during the six months ended June 30, 2023.
Minimum Lease Payments	At June 30, 2023, we are obligated to make minimum lease payments through 2034, under operating leases, which are as follows (in thousands): 2023 $ 5,861 2024 12,899 2025 11,194 2026 9,892 2027 8,867 Thereafter 44,929 Total lease payments $ 93,642 Less: Interest (17,488 ) Present value of lease liabilities $ 76,154

Credit Facilities and Long-Te_2

Credit Facilities and Long-Term Debt (Tables)	6 Months Ended
	Jun. 30, 2023
Credit Facilities and Long-Term Debt [Abstract]
Summary of Total Debt Outstanding	Total debt outstanding is summarized as follows: June 30, 2023 December 31, 2022 (In thousands) Credit facility – term loan due 2027 $ 95,000 $ 97,500 Credit facility – revolver due 2027 128,000 142,000 Other 216 120 Total debt $ 223,216 $ 239,620 Current maturities of debt $ 58,728 $ 55,031 Long-term debt 164,488 184,589 Total debt $ 223,216 $ 239,620
Maturities of Debt	As of June 30, 2023, maturities of debt through 2027, assuming no prepayments, are as follows (in thousands): Revolving Credit Facility Term Loan Facility Polish Overdraft Facility and Other Debt Total Remainder of 2023 $ — $ 2,500 $ 14 $ 2,514 2024 — 5,000 28 5,028 2025 — 5,000 30 5,030 2026 — 7,500 46 7,546 2027 128,000 75,000 98 203,098 Total $ 128,000 $ 95,000 $ 216 $ 223,216 Less: current maturities (53,700 ) (5,000 ) (28 ) (58,728 ) Long-term debt $ 74,300 $ 90,000 $ 188 $ 164,488

Accumulated Other Comprehensi_2

Accumulated Other Comprehensive Income (Tables)	6 Months Ended
	Jun. 30, 2023
Accumulated Other Comprehensive Income [Abstract]
Changes in Accumulated Other Comprehensive Income by Component	Changes in Accumulated Other Comprehensive Income by Component (in thousands) Three Months Ended June 30, 2023 Foreign Currency Translation Unrecognized Postretirement Benefit Costs (Credit) Unrealized derivative gains (losses) Total Balance at March 31, 2023 $ (13,481 ) $ 34 $ 2,446 $ (11,001 ) Other comprehensive income before reclassifications 1,247 — 2,262 (1) 3,509 Amounts reclassified from accumulated other comprehensive income — (4 ) (431 ) (435 ) Other comprehensive income, net 1,247 (4 ) 1,831 3,074 Balance at June 30 2023 $ (12,234 ) $ 30 $ 4,277 $ (7,927 ) Six Months Ended June 30, 2023 Foreign Currency Translation Unrecognized Postretirement Benefit Costs (Credit) Unrealized derivative gains (losses) Total Balance at December 31, 2022 $ (16,330 ) $ 37 $ 3,823 $ (12,470 ) Other comprehensive income before reclassifications 4,096 — 1,223 (1) 5,319 Amounts reclassified from accumulated other comprehensive income — (7 ) (769 ) (776 ) Other comprehensive income, net 4,096 (7 ) 454 4,543 Balance at June 30 2023 $ (12,234 ) $ 30 $ 4,277 $ (7,927 ) (1) Consists of the unrecognized gain relating to the change in fair value of the cash flow interest rate hedge of $ 3.1 2.3 1.6 1.2 0.6 0.4 1 0.8
Reclassifications Out of Accumulated Other Comprehensive Income	Reclassifications Out of Accumulated Other Comprehensive Income (in thousands) Three Months Ended Six Months Ended Details About Accumulated Other Comprehensive Income Components June 30, 2023 June 30, 2023 Derivative cash flow hedge: Unrecognized gain (loss) (1) $ (583 ) $ (1,039 ) Postretirement Benefit Plans: Unrecognized gain (loss) (2) (5 ) (11 ) Total before income tax (588 ) (1,050 ) Income tax expense (153 ) (274 ) Total reclassifications attributable to SMP $ (435 ) $ (776 ) (1) Unrecognized accumulated other comprehensive income (loss) related to the cash flow interest rate hedge is reclassified to earnings and reported as part of interest expense in our consolidated statements of operations when the interest payments on the underlying borrowings are recognized. (2) Unrecognized accumulated other comprehensive income (loss) related to our post retirement plans is reclassified to earnings and included in the computation of net periodic postretirement benefit costs, whic

Stock-Based Compensation Plans

Stock-Based Compensation Plans (Tables)	6 Months Ended
	Jun. 30, 2023
Stock-Based Compensation Plans [Abstract]
Restricted and Performance-based Share Activity	Our : Shares Weighted Average Grant Date Fair Value Per Share Balance at 2022 880,829 $ 31.79 Granted 6,000 31.63 Vested (56,978 ) 32.37 Forfeited (3,875 ) 40.12 Balance at June 30 2023 825,976 $ 31.76

Fair Value Measurements (Tables

Fair Value Measurements (Tables)	6 Months Ended
	Jun. 30, 2023
Fair Value Measurements [Abstract]
Summary of Estimated Fair Values, Carrying Amounts and Classification under Fair Value Hierarchy	The following is a summary of the estimated fair values, carrying amounts, and classification under the fair value hierarchy of our financial instruments at June 30, 2023 and December 31, 2022 (in thousands): June 30, 2023 December 31, 2022 Fair Value Hierarchy Fair Value Carrying Amount Fair Value Carrying Amount Cash and cash equivalents LEVEL 1 $ 23,019 $ 23,019 $ 21,150 $ 21,150 Deferred compensation LEVEL 1 23,104 23,104 20,190 20,190 Short term borrowings LEVEL 1 58,728 58,728 55,031 55,031 Long-term debt LEVEL 1 164,488 164,488 184,589 184,589 Cash flow interest rate swap LEVEL 2 5,786 5,786 5,174 5,174

Earnings Per Share (Tables)

Earnings Per Share (Tables)	6 Months Ended
	Jun. 30, 2023
Earnings Per Share [Abstract]
Reconciliations of Earnings Available to Common Stockholders and Shares used in Calculating Basic and Dilutive Net Earnings per Common Share	The Three Months Ended June 30, Six June 30, 2023 2022 2023 2022 N et Earnings Attributable to SMP - Earnings from continuing operations $ 18,358 $ 20,792 $ 31,056 $ 41,354 Loss from discontinued operations (9,221 ) (1,666 ) (10,001 ) (2,782 ) Net earnings attributable to SMP $ 9,137 $ 19,126 $ 21,055 $ 38,572 Basic Net Earnings Per Common Share Attributable to SMP - Earnings from continuing operations per common share $ 0.85 $ 0.96 $ 1.43 $ 1.89 Loss from discontinued operations per common share (0.43 ) (0.08 ) (0.46 ) (0.13 ) Net earnings per common share attributable to SMP $ 0.42 $ 0.88 $ 0.97 $ 1.76 Weighted average common shares outstanding 21,689 21,758 21,650 21,868 Diluted Net Earnings Per Common Share Attributable to SMP - Earnings from continuing operations per common share $ 0.83 $ 0.93 $ 1.40 $ 1.85 Loss from discontinued operations per common share (0.42 ) (0.07 ) (0.45 ) (0.13 ) Net earnings per common share attributable to SMP $ 0.41 $ 0.86 $ 0.95 $ 1.72 Weighted average common shares outstanding 21,689 21,758 21,650 21,868 Plus incremental shares from assumed conversions: Dilutive effect of restricted stock and performance-based stock 494 498 490 505 Weighted average common shares outstanding – Diluted 22,183 22,256 22,140 22,373
Anti-dilutive Securities Excluded from Computation of Earnings per Share	The Three Months Ended June 30, Six Months Ended June 30, 2023 2022 2023 2022 Restricted and performance-based shares 273 268 286 262

Industry Segments (Tables)

Industry Segments (Tables)	6 Months Ended
	Jun. 30, 2023
Industry Segments [Abstract]
Sales and Operating Income by Operating Segments	The following tables show our net sales and operating income for each reportable operating segment (in thousands): Three Months Ended Six Months Ended June 30, June 30, 2023 2022 2023 2022 Net Sales (a) Vehicle Control $ 183,789 $ 185,771 $ 368,366 $ 363,035 Temperature Control 97,074 105,637 169,480 178,695 Engineered Solutions 72,212 68,004 143,257 140,513 Other — — — — Consolidated $ 353,075 $ 359,412 $ 681,103 $ 682,243 Operating Income Vehicle Control $ 19,273 $ 16,059 $ 36,648 $ 36,403 Temperature Control 5,800 10,523 7,884 14,685 Engineered Solutions 6,163 5,109 11,810 11,397 Other (4,058 ) (3,798 ) (8,418 ) (7,677 ) Consolidated $ 27,178 $ 27,893 $ 47,924 $ 54,808 (a) There are no intersegment sales among our Vehicle Control, Temperature Control and Engineered Solutions operating segments.

Net Sales (Tables)

Net Sales (Tables)	6 Months Ended
	Jun. 30, 2023
Net Sales [Abstract]
Disaggregation of Net Sales	The following table summarizes consolidated net sales by major product group within each operating segment for the three months and six months ended June 30, 2023 and 2022 (in thousands): Three Months Ended Six Months Ended June 30, June 30, 2023 2022 2023 2022 Vehicle Control Engine Management (Ignition, Emissions and Fuel Delivery) $ 113,589 $ 111,581 $ 229,672 $ 220,730 Electrical and Safety 52,867 57,054 104,671 109,311 Wire Sets and Other 17,333 17,136 34,023 32,994 Total Vehicle Control 183,789 185,771 368,366 363,035 Temperature Control AC System Components 74,449 81,608 120,201 128,982 Other Thermal Components 22,625 24,029 49,279 49,713 Total Temperature Control 97,074 105,637 169,480 178,695 Engineered Solutions Commercial Vehicle 26,742 19,503 46,599 40,954 Construction/Agriculture 8,103 11,222 20,898 22,206 Light Vehicle 23,548 23,039 46,514 49,114 All Other 13,819 14,240 29,246 28,239 Total Engineered Solutions 72,212 68,004 143,257 140,513 Other — — — — Total $ 353,075 $ 359,412 $ 681,103 $ 682,243 Geographic Area We sell our line of products primarily in the United States, with additional sales in Canada, Mexico, Europe, Asia and Latin America. Sales are attributed to countries based upon the location of the customer. Our sales are substantially denominated in U.S. dollars. The following tables provide disaggregation of net sales information by geographic area within each operating segment for the three months and six months ended June 30, 2023 and 2022 (in thousands): Three months ended June 30, 2023 Vehicle Control Temperature Control Engineered Solutions Other Total Geographic Area: United States $ 165,198 $ 92,099 $ 44,565 $ — $ 301,862 Canada 8,834 4,926 6,126 — 19,886 Europe 248 — 14,914 — 15,162 Mexico 8,179 18 2,038 — 10,235 Asia 88 — 4,273 — 4,361 Other foreign 1,242 31 296 — 1,569 Total $ 183,789 $ 97,074 $ 72,212 $ — $ 353,075 Three months ended June 30, 2022 Vehicle Control Temperature Control Engineered Solutions Other Total Geographic Area: United States $ 171,083 $ 101,204 $ 50,311 $ — $ 322,598 Canada 7,205 4,089 3,943 — 15,237 Europe 176 20 10,251 — 10,447 Mexico 6,000 105 666 — 6,771 Asia 78 21 2,565 — 2,664 Other foreign 1,229 198 268 — 1,695 Total $ 185,771 $ 105,637 $ 68,004 $ — $ 359,412 Six months ended June 30, 2023 Vehicle Control Temperature Control Engineered Solutions Other Total Geographic Area: United States $ 331,610 $ 161,670 $ 88,771 $ — $ 582,051 Canada 17,164 7,681 11,364 — 36,209 Europe 446 — 29,998 — 30,444 Mexico 16,766 18 3,806 — 20,590 Asia 150 20 8,327 — 8,497 Other foreign 2,230 91 991 — 3,312 Total $ 368,366 $ 169,480 $ 143,257 $ — $ 681,103 Six months ended June 30, 2022 Vehicle Control Temperature Control Engineered Solutions Other Total Geographic Area: United States $ 332,154 $ 170,516 $ 97,200 $ — $ 599,870 Canada 15,913 7,588 7,445 — 30,946 Europe 368 35 21,581 — 21,984 Mexico 12,083 189 2,290 — 14,562 Asia 158 43 10,966 — 11,167 Other foreign 2,359 324 1,031 — 3,714 Total $ 363,035 $ 178,695 $ 140,513 $ — $ 682,243

Commitments and Contingencies (

Commitments and Contingencies (Tables)	6 Months Ended
	Jun. 30, 2023
Commitments and Contingencies [Abstract]
Changes in Product Warranties	The following table provides the changes in our product warranties (in thousands): Three Months Ended Six Months Ended June 30, June 30, 2023 2022 2023 2022 Balance, beginning of period $ 20,600 $ 20,711 $ 19,667 $ 17,463 Liabilities accrued for current year sales 30,047 30,295 55,840 52,921 Settlements of warranty claims (27,061 ) (27,240 ) (51,921 ) (46,618 ) Balance, end of period $ 23,586 $ 23,766 $ 23,586 $ 23,766

Basis of Presentation (Details)

Basis of Presentation (Details)	6 Months Ended
	Jun. 30, 2023 Segment
Basis of Presentation [Abstract]
Equity ownership in entities included in consolidated financial statements, minimum	50%
Number of operating segments	3

Business Acquisitions and Inv_3

Business Acquisitions and Investments, Investment in Foshan Che Yijia New Energy Technology Co., Ltd (Details) ¥ in Millions	Jun. 30, 2023 USD ($)	Dec. 31, 2022 USD ($)	Oct. 31, 2022 USD ($)	Oct. 31, 2022 CNY (¥)	Aug. 31, 2019 USD ($)
Investments in and Advances to Affiliates, Balance [Abstract]
Investments in unconsolidated affiliates	$ 41,557,000	$ 41,745,000
Foshan Che Yijia New Energy Technology Co., Ltd. [Member]
Investments in and Advances to Affiliates, Balance [Abstract]
Percentage of equity interest acquired			3.55%	3.55%	29%
Investments in unconsolidated affiliates			$ 242,000	¥ 1.7	$ 5,100,000
Foshan Che Yijia New Energy Technology Co., Ltd. [Member] | Minimum [Member]
Investments in and Advances to Affiliates, Balance [Abstract]
Percentage of equity interest acquired			29%	29%
Foshan Che Yijia New Energy Technology Co., Ltd. [Member] | Maximum [Member]
Investments in and Advances to Affiliates, Balance [Abstract]
Percentage of equity interest acquired			33%	33%

Business Acquisitions and Inv_4

Business Acquisitions and Investments, Acquisition of Capital Stock of Kade Trading GmbH (Details) $ in Thousands, € in Millions		1 Months Ended			3 Months Ended		6 Months Ended
		Oct. 31, 2022 USD ($)	Oct. 31, 2022 EUR (€)	Sep. 30, 2021 USD ($)	Jun. 30, 2023 USD ($)	Jun. 30, 2022 USD ($)	Jun. 30, 2023 USD ($)	Jun. 30, 2022 USD ($)	Dec. 31, 2022 USD ($)	Oct. 31, 2022 EUR (€)
Allocation of the Purchase Price, Assets Acquired and Liabilities Assumed [Abstract]
Business acquisition annual sales	[1]				$ 353,075	$ 359,412	$ 681,103	$ 682,243
Assets acquired and liabilities assumed [Abstract]
Goodwill					132,391		132,391		$ 132,087
Kade [Member]
Business Combination, Description [Abstract]
Percentage of entity acquired		100%								100%
Allocation of the Purchase Price, Assets Acquired and Liabilities Assumed [Abstract]
Payment to acquire Business		$ 2,700	€ 2.7
Earn-out based performance obligation in 2024 and 2025		500								€ 0.5
Business acquisition annual sales		6,000
Purchase Price		3,176
Assets acquired and liabilities assumed [Abstract]
Receivables		790
Inventory		829
Other current assets	[2]	1,003
Property, plant, and equipment, net		63
Operating lease right-of-use assets		401
Intangible assets		2,395
Goodwill		766
Current liabilities		(1,977)
Noncurrent operating lease liabilities		(328)
Deferred income taxes		(766)
Net assets acquired		$ 3,176
Cash acquired				$ 1,000
Revenues from acquisition date					$ 1,700		$ 3,400
Kade [Member] | Customer Relationships [Member]
Assets acquired and liabilities assumed [Abstract]
Estimated useful life of intangible assets					15 years		15 years
[1]There are no intersegment sales among our Vehicle Control, Temperature Control and Engineered Solutions operating segments.[2]The other current assets balance includes $1 million of cash acquired.

Restructuring and Integration_3

Restructuring and Integration Expenses (Details) - USD ($) $ in Thousands		3 Months Ended		6 Months Ended
		Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023		Jun. 30, 2022
Restructuring and integration activities [Roll Forward]
Exit activity liability, beginning of period				$ 1,521
Restructuring and integration costs provided for during 2023		$ 294	$ 3	1,206	[1]	$ 44
Cash payments				(1,037)
Foreign currency exchange rate changes				20
Exit activity liability, end of period		1,710		1,710
Restructuring Costs [Abstract]
Employee severance costs				1,000
Expenses related to relocation of machinery and equipment				200
Additional restructuring costs				1,600
Vehicle Control Segment [Member]
Restructuring and integration activities [Roll Forward]
Restructuring and integration costs provided for during 2023				400
Temperature Control Segment [Member]
Restructuring and integration activities [Roll Forward]
Restructuring and integration costs provided for during 2023				700
Engineered Solutions Segment [Member]
Restructuring and integration activities [Roll Forward]
Restructuring and integration costs provided for during 2023				100
Workforce Reduction [Member]
Restructuring and integration activities [Roll Forward]
Exit activity liability, beginning of period				1,521
Restructuring and integration costs provided for during 2023	[1]			969
Cash payments				(800)
Foreign currency exchange rate changes				20
Exit activity liability, end of period		1,710		1,710
Other Exit Costs [Member]
Restructuring and integration activities [Roll Forward]
Exit activity liability, beginning of period				0
Restructuring and integration costs provided for during 2023	[1]			237
Cash payments				(237)
Foreign currency exchange rate changes				0
Exit activity liability, end of period		$ 0		$ 0
[1]Restructuring and integration expenses incurred during the six months ended June 30, 2023 consist of $0.4 million in our Vehicle Control segment, $0.7 million in our Temperature Control segment and $0.1 million in our Engineered Solutions segment.

Sale of Receivables (Details)

Sale of Receivables (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022	Dec. 31, 2022
Sale of Receivables [Abstract]
Sale of receivables to financial institutions	$ 211.6	$ 218.4	$ 382.5	$ 374.1
Receivables not yet collected	10.7		10.7		$ 0
Charge related to sale of receivables	$ 12.4	$ 7.7	$ 21.5	$ 11.2

Inventories (Details)

Inventories (Details) - USD ($) $ in Thousands	Jun. 30, 2023	Dec. 31, 2022
Inventories [Abstract]
Finished goods	$ 300,430	$ 324,362
Work in process	16,126	14,099
Raw materials	182,578	190,254
Subtotal	499,134	528,715
Unreturned customer inventories	19,722	19,695
Total inventories	$ 518,856	$ 548,410

Goodwill and Acquired Intangi_3

Goodwill and Acquired Intangible Assets, Identifiable Intangible Assets (Details) - USD ($) $ in Thousands		Jun. 30, 2023	Dec. 31, 2022
Indefinite Lived Intangible Assets [Abstract]
Acquired intangible assets		$ 186,702	$ 185,962
Less accumulated amortization	[1]	(91,756)	(86,945)
Net acquired intangible assets		94,946	99,017
Customer Relationships [Member]
Indefinite Lived Intangible Assets [Abstract]
Acquired intangible assets		159,448	158,717
Patents, Developed Technology and Intellectual Property [Member]
Indefinite Lived Intangible Assets [Abstract]
Acquired intangible assets		14,123	14,123
Trademarks and Trade Names [Member]
Indefinite Lived Intangible Assets [Abstract]
Acquired intangible assets		8,880	8,880
Acquired indefinite-lived intangible assets		2,600
Non-compete Agreements [Member]
Indefinite Lived Intangible Assets [Abstract]
Acquired intangible assets		3,291	3,282
Supply Agreements [Member]
Indefinite Lived Intangible Assets [Abstract]
Acquired intangible assets		800	800
Leaseholds [Member]
Indefinite Lived Intangible Assets [Abstract]
Acquired intangible assets		$ 160	$ 160
[1]Applies to all intangible assets, except for trademarks and trade names totaling $2.6 million, which have indefinite useful lives and, as such, are not being amortized.

Goodwill and Acquired Intangi_4

Goodwill and Acquired Intangible Assets, Amortization Expense (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022
Amortization of acquired intangible assets [Abstract]
Amortization expense	$ 2.1	$ 2.2	$ 4.3	$ 4.3
Estimated amortization expense, remainder of 2023	4.2		4.2
Estimated amortization expense in year 2024	8.4		8.4
Estimated amortization expense in year 2025	8.4		8.4
Estimated amortization expense in year 2026	8.4		8.4
Estimated amortization expense in years 2027 through 2041	$ 62.9		$ 62.9

Leases (Details)

Leases (Details) $ in Thousands		1 Months Ended	3 Months Ended		6 Months Ended
		May 31, 2023 USD ($) ft²	Jun. 30, 2023 USD ($)	Jun. 30, 2022 USD ($)	Jun. 30, 2023 USD ($)	Jun. 30, 2022 USD ($)	Dec. 31, 2022 USD ($)
Quantitative Lease Disclosures [Abstract]
Renewal option period			5 years		5 years
Assets [Abstract]
Operating lease right-of-use assets		$ 26,100	$ 73,093		$ 73,093		$ 49,838
Liabilities [Abstract]
Sundry payables and accrued expenses			11,883		11,883		10,763
Noncurrent operating lease liabilities			64,271		64,271		40,709
Total operating lease liabilities			$ 76,154		$ 76,154		$ 51,472
Operating Leases [Abstract]
Weighted average remaining lease term			8 years 3 months 18 days		8 years 3 months 18 days		7 years
Weighted average discount rate			4.40%		4.40%		3.70%
Lease Expense [Abstract]
Operating lease expense	[1]		$ 3,776	$ 2,711	$ 6,885	$ 5,541
Excluded expenses of non lease			400	$ 700	1,100	1,100
Cash paid for the amounts included in the measurement of lease liabilities [Abstract]
Operating cash flows from operating leases					5,476	5,397
Right-of-use assets obtained in exchange for new lease obligations [Abstract]
Operating leases	[2]				30,830	$ 4,458
Right-of-use assets related to lease modifications and extension					27,800
Minimum Lease Payments [Abstract]
2023			5,861		5,861
2024			12,899		12,899
2025			11,194		11,194
2026			9,892		9,892
2027			8,867		8,867
Thereafter			44,929		44,929
Total lease payments			93,642		93,642
Less: Interest			(17,488)		(17,488)
Total operating lease liabilities			76,154		76,154		$ 51,472
Area of building leased under operating lease | ft²		574,932
Base rent		$ 3,000
Percentage of annual increase in base rent		3%
Operating lease cost taxes and maintenance		$ 500
Operating lease right-of-use assets		$ 26,100	$ 73,093		$ 73,093		$ 49,838
Maximum [Member]
Quantitative Lease Disclosures [Abstract]
Remaining operating lease terms			11 years		11 years
[1]Excludes expenses of approximately $0.4 million and $1.1 million for the three and six months ended June 30, 2023, respectively, and approximately $0.7 million and $1.1 million for the comparable periods in 2022, respectively, related to non-lease components such as maintenance, property taxes, etc., and operating lease expense for leases with an initial term of 12 months or less, which is not material.[2]Includes $27.8 million of right-of-use assets related to the lease modification and extension for our distribution center and office in Lewisville, Texas during the six months ended June 30, 2023.

Credit Facilities and Long-Te_3

Credit Facilities and Long-Term Debt, Total Debt Outstanding (Details) - USD ($) $ in Thousands	Jun. 30, 2023	Dec. 31, 2022
Debt Instruments [Abstract]
Total debt	$ 223,216	$ 239,620
Current maturities of debt	58,728	55,031
Long-term debt	164,488	184,589
Credit Facility - Term Loan Due 2027 [Member]
Debt Instruments [Abstract]
Total debt	95,000	97,500
Current maturities of debt	5,000
Long-term debt	90,000
Credit Facility - Revolver Due 2027 [Member]
Debt Instruments [Abstract]
Total debt	128,000	142,000
Current maturities of debt	53,700
Long-term debt	74,300
Other [Member]
Debt Instruments [Abstract]
Total debt	216	$ 120
Current maturities of debt	28
Long-term debt	$ 188

Credit Facilities and Long-Te_4

Credit Facilities and Long-Term Debt, Term Loan and Revolving Credit Facilities (Details) $ in Thousands	6 Months Ended		12 Months Ended
	Jun. 30, 2023 USD ($) Installment	Jun. 30, 2022 USD ($)	Dec. 31, 2022 USD ($)
Line of Credit Facility [Abstract]
Current portion of debt	$ 53,700		$ 50,000
Senior Secured Revolving Credit Facility [Member]
Line of Credit Facility [Abstract]
Outstanding borrowings under credit facility			239,500
Outstanding letters of credit			$ 2,400
Weighted average interest rate			5.20%
Senior Secured Revolving Credit Facility [Member] | Alternate Base Rate [Member]
Line of Credit Facility [Abstract]
Average daily loan balance outstanding		$ 10,800	$ 5,600
Term Loan and Revolving Credit Facilities [Member]
Line of Credit Facility [Abstract]
Maximum borrowing capacity		500,000
Maturity date	Jun. 01, 2027
Frequency of periodic payment	quarterly
Debt instrument, extension period	1 year
Borrowing base	$ 168,000
Maximum consolidated EBITDA	1
Net Leverage Ratio	250%
Outstanding borrowings under credit facility	$ 223,000
Current portion of debt	58,700		55,000
Long-term debt	164,300		184,500
Outstanding letters of credit	$ 2,400
Weighted average interest rate	5.60%
Term Loan and Revolving Credit Facilities [Member] | SOFR [Member]
Line of Credit Facility [Abstract]
Margin on variable rate	0.10%
Term of variable rate	1 month
Interest rate periods	one, three or six months
Outstanding borrowings under credit facility	$ 223,000		$ 237,000
Weighted average interest rate			5.20%
Term Loan and Revolving Credit Facilities [Member] | Federal Funds Rate [Member]
Line of Credit Facility [Abstract]
Margin on variable rate	0.50%
Term Loan and Revolving Credit Facilities [Member] | Term Benchmark Borrowings [Member] | Minimum [Member]
Line of Credit Facility [Abstract]
Margin on variable rate	1%
Term Loan and Revolving Credit Facilities [Member] | Term Benchmark Borrowings [Member] | Maximum [Member]
Line of Credit Facility [Abstract]
Margin on variable rate	2%
Term Loan and Revolving Credit Facilities [Member] | Alternate Base Rate [Member]
Line of Credit Facility [Abstract]
Margin on variable rate	1%
Outstanding borrowings under credit facility			$ 2,500
Weighted average interest rate			8%
Average daily loan balance outstanding	$ 200
Term Loan and Revolving Credit Facilities [Member] | Alternate Base Rate [Member] | Minimum [Member]
Line of Credit Facility [Abstract]
Margin on variable rate	0%
Term Loan and Revolving Credit Facilities [Member] | Alternate Base Rate [Member] | Maximum [Member]
Line of Credit Facility [Abstract]
Margin on variable rate	1%
Term Loan Facility [Member]
Line of Credit Facility [Abstract]
Maximum borrowing capacity		100,000
Term Loan Facility [Member] | Maximum [Member]
Line of Credit Facility [Abstract]
Number of extensions of maturity date | Installment	2
Term Loan Facility [Member] | First Four Years [Member]
Line of Credit Facility [Abstract]
Periodic payment amortization percentage	1.25%
Term Loan Facility [Member] | Fifth Year [Member]
Line of Credit Facility [Abstract]
Periodic payment amortization percentage	2.50%
Revolving Credit Facility [Member]
Line of Credit Facility [Abstract]
Maximum borrowing capacity		400,000
Letter of Credit Sublimit [Member]
Line of Credit Facility [Abstract]
Maximum borrowing capacity	$ 25,000
Swing Line Loans [Member]
Line of Credit Facility [Abstract]
Maximum borrowing capacity	25,000
Interest Rate Swap Agreement [Member]
Line of Credit Facility [Abstract]
Maximum borrowing capacity	$ 100,000
Term of variable rate	1 month
Period of agreement	7 years
Outstanding borrowings under credit facility	$ 100,000	$ 100,000	$ 100,000

Credit Facilities and Long-Te_5

Credit Facilities and Long-Term Debt, Polish Overdraft Facility (Details) - Polish Overdraft Facility [Member] zł in Millions, $ in Millions	6 Months Ended
	Jun. 30, 2023 USD ($)	Dec. 31, 2022 USD ($)	Oct. 31, 2022 USD ($)	Oct. 31, 2022 PLN (zł)
Line of Credit Facility [Abstract]
Maximum borrowing capacity			$ 7.3	zł 30
Threshold percentage of borrowing capacity	85%
Threshold borrowing capacity limit	$ 6.2
Overdraft facility renewal period	3 months
Overdraft facility cancellation period	30 days
Overdraft facility	$ 0	$ 0
1M WIBOR [Member]
Line of Credit Facility [Abstract]
Basis spread on variable rate	1.50%
1M EURIBOR [Member]
Line of Credit Facility [Abstract]
Basis spread on variable rate	1.50%
Mid-Point of Fed Target Range [Member]
Line of Credit Facility [Abstract]
Basis spread on variable rate	1.75%

Credit Facilities and Long-Te_6

Credit Facilities and Long-Term Debt, Maturities of Debt (Details) - USD ($) $ in Thousands	Jun. 30, 2023	Dec. 31, 2022
Maturities of Debt [Abstract]
Remainder of 2023	$ 2,514
2024	5,028
2025	5,030
2026	7,546
2027	203,098
Total debt	223,216	$ 239,620
Less: current maturities	(58,728)	(55,031)
Long-term debt	164,488	184,589
Revolving Credit Facility [Member]
Maturities of Debt [Abstract]
Remainder of 2023	0
2024	0
2025	0
2026	0
2027	128,000
Total debt	128,000	142,000
Less: current maturities	(53,700)
Long-term debt	74,300
Term Loan Facility [Member]
Maturities of Debt [Abstract]
Remainder of 2023	2,500
2024	5,000
2025	5,000
2026	7,500
2027	75,000
Total debt	95,000	97,500
Less: current maturities	(5,000)
Long-term debt	90,000
Polish Overdraft Facility and Other Debt [Member]
Maturities of Debt [Abstract]
Remainder of 2023	14
2024	28
2025	30
2026	46
2027	98
Total debt	216	$ 120
Less: current maturities	(28)
Long-term debt	$ 188

Credit Facilities and Long-Te_7

Credit Facilities and Long-Term Debt, Deferred Financing Costs (Details) - USD ($) $ in Millions	Jun. 30, 2023	Dec. 31, 2022
Deferred Financing Costs [Abstract]
Deferred financing costs	$ 1.8	$ 2.1
Deferred Finance Costs, Amortization [Abstract]
Remainder of 2023	0.2
2024	0.5
2025	0.5
2026	0.5
2027	$ 0.1

Accumulated Other Comprehensi_3

Accumulated Other Comprehensive Income, Changes in Accumulated Other Comprehensive Income by Component (Details) - USD ($) $ in Thousands		3 Months Ended	6 Months Ended
		Jun. 30, 2023	Jun. 30, 2023
Changes in Accumulated Other Comprehensive Income by Component [Roll Forward]
Balance attributable to SMP			$ 610,020
Other comprehensive income before reclassifications		$ 3,509	5,319
Amounts reclassified from accumulated other comprehensive income		(435)	(776)
Other comprehensive income, net		3,074	4,543
Balance attributable to SMP		629,673	629,673
Reclassification out of Accumulated Other Comprehensive Income [Member]
Changes in Accumulated Other Comprehensive Income by Component [Roll Forward]
Unrecognized gain relating to change in fair value of cash flow interest rate hedge		3,100	1,600
Unrecognized gain relating to change in fair value of cash flow interest rate hedge, net of tax		2,300	1,200
Unrecognized gain, net of cash settlements		600	1,000
Unrecognized gain, net of cash settlements, net of tax		400	800
Accumulated Other Comprehensive Income (Loss) [Member]
Changes in Accumulated Other Comprehensive Income by Component [Roll Forward]
Balance attributable to SMP		(11,001)	(12,470)
Balance attributable to SMP		(7,927)	(7,927)
Foreign Currency Translation [Member]
Changes in Accumulated Other Comprehensive Income by Component [Roll Forward]
Balance attributable to SMP		(13,481)	(16,330)
Other comprehensive income before reclassifications		1,247	4,096
Amounts reclassified from accumulated other comprehensive income		0	0
Other comprehensive income, net		1,247	4,096
Balance attributable to SMP		(12,234)	(12,234)
Unrecognized Postretirement Benefit Costs (Credit) [Member]
Changes in Accumulated Other Comprehensive Income by Component [Roll Forward]
Balance attributable to SMP		34	37
Other comprehensive income before reclassifications		0	0
Amounts reclassified from accumulated other comprehensive income		(4)	(7)
Other comprehensive income, net		(4)	(7)
Balance attributable to SMP		30	30
Unrealized Derivative Gains (Losses) [Member]
Changes in Accumulated Other Comprehensive Income by Component [Roll Forward]
Balance attributable to SMP		2,446	3,823
Other comprehensive income before reclassifications	[1]	2,262	1,223
Amounts reclassified from accumulated other comprehensive income		(431)	(769)
Other comprehensive income, net		1,831	454
Balance attributable to SMP		$ 4,277	$ 4,277
[1] Consists of the unrecognized gain relating to the change in fair value of the cash flow interest rate hedge of $ 3.1 2.3 1.6 1.2 0.6 0.4 1 0.8

Accumulated Other Comprehensi_4

Accumulated Other Comprehensive Income, Reclassifications Out of Accumulated Other Comprehensive Income (Details) - USD ($) $ in Thousands		3 Months Ended		6 Months Ended
		Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022
Details About Accumulated Other Comprehensive Income Components [Abstract]
Interest expense		$ 3,283	$ 1,821	$ 7,145	$ 2,626
Other non-operating income, net		802	1,927	1,027	3,376
Earnings from continuing operations before income taxes		24,697	27,999	41,806	55,558
Income tax expense		6,289	7,122	10,661	14,127
Net earnings attributable to SMP	[1]	9,137	$ 19,126	21,055	$ 38,572
Reclassification out of Accumulated Other Comprehensive Income [Member]
Details About Accumulated Other Comprehensive Income Components [Abstract]
Earnings from continuing operations before income taxes		(588)		(1,050)
Income tax expense		(153)		(274)
Net earnings attributable to SMP		(435)		(776)
Unrealized Derivative Gains (Losses) [Member] | Reclassification out of Accumulated Other Comprehensive Income [Member]
Details About Accumulated Other Comprehensive Income Components [Abstract]
Interest expense	[2]	(583)		(1,039)
Unrecognized Postretirement Benefit Costs (Credit) [Member] | Reclassification out of Accumulated Other Comprehensive Income [Member]
Details About Accumulated Other Comprehensive Income Components [Abstract]
Other non-operating income, net	[3]	$ (5)		$ (11)
[1]Throughout this Form 10Q, “SMP” refers to Standard Motor Products, Inc. and subsidiaries.[2]Unrecognized accumulated other comprehensive income (loss) related to the cash flow interest rate hedge is reclassified to earnings and reported as part of interest expense in our consolidated statements of operations when the interest payments on the underlying borrowings are recognized.[3]Unrecognized accumulated other comprehensive income (loss) related to our post retirement plans is reclassified to earnings and included in the computation of net periodic postretirement benefit costs, which are included in other non-operating income, net in our consolidated statements of operations (see Note 12, “Employee Benefits,” for additional information).

Stock-Based Compensation Plan_2

Stock-Based Compensation Plans (Details) $ / shares in Units, $ in Thousands	6 Months Ended
	Jun. 30, 2023 USD ($) Type $ / shares shares	Jun. 30, 2022 USD ($)
Restricted and Performance Stock Grants [Abstract]
Number of types of restricted stock | Type	2
Additional Disclosures [Abstract]
Compensation expense, gross | $	$ 3,633	$ 4,465
Restricted Shares [Member] | Minimum [Member]
Restricted and Performance Stock Grants [Abstract]
Expiration of vesting period	3 years
Restricted Shares [Member] | Employees [Member]
Restricted and Performance Stock Grants [Abstract]
Estimated forfeitures	5%
Restricted Shares [Member] | Executives [Member]
Restricted and Performance Stock Grants [Abstract]
Estimated forfeitures	0%
Restricted Shares [Member] | Directors [Member]
Restricted and Performance Stock Grants [Abstract]
Estimated forfeitures	0%
Restricted Shares [Member] | Age 60 [Member] | Executives [Member]
Restricted and Performance Stock Grants [Abstract]
Vesting percentage	25%
Vesting period before reaching age limit	2 months
Restricted Shares [Member] | Age 63 [Member] | Executives [Member]
Restricted and Performance Stock Grants [Abstract]
Vesting percentage	25%
Vesting period before reaching age limit	2 months
Restricted Shares [Member] | Age 65 [Member] | Executives [Member]
Restricted and Performance Stock Grants [Abstract]
Vesting percentage	100%
Vesting period before reaching age limit	2 months
Performance-based Shares [Member]
Restricted and Performance Stock Grants [Abstract]
Measuring period for performance-based shares	3 years
Performance-based Shares [Member] | Minimum [Member]
Restricted and Performance Stock Grants [Abstract]
Expiration of vesting period	3 years
Restricted and Performance-Based Shares [Member]
Restricted and performance-based stock, shares [Roll Forward]
Beginning of period (in shares)	880,829
Granted (in shares)	6,000
Vested (in shares)	(56,978)
Forfeited (in shares)	(3,875)
End of period (in shares)	825,976
Restricted and performance-based stock, weighted average grant date fair value per share [Roll Forward]
Beginning of period (in dollars per share) | $ / shares	$ 31.79
Granted (in dollars per share) | $ / shares	31.63
Vested (in dollars per share) | $ / shares	32.37
Forfeited (in dollars per share) | $ / shares	40.12
End of period (in dollars per share) | $ / shares	$ 31.76
Additional Disclosures [Abstract]
Compensation expense, gross | $	$ 3,200	3,900
Compensation expense, net of tax | $	2,400	$ 2,900
Unamortized compensation expense | $	$ 11,200
Restricted and Performance-Based Shares [Member] | Employees [Member]
Additional Disclosures [Abstract]
Weighted average period of recognition for unrecognized compensation expense	4 years
Restricted and Performance-Based Shares [Member] | Directors [Member]
Additional Disclosures [Abstract]
Weighted average period of recognition for unrecognized compensation expense	9 months 29 days
Restricted and Performance-Based Shares [Member] | Executives and Directors [Member] | Minimum [Member]
Restricted and Performance Stock Grants [Abstract]
Holding period for restricted and performance shares issued	1 year
Restricted and Performance-Based Shares [Member] | Executives and Directors [Member] | Maximum [Member]
Restricted and Performance Stock Grants [Abstract]
Holding period for restricted and performance shares issued	2 years
2016 Omnibus Incentive Plan [Member] | Employees and Directors [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Abstract]
Shares authorized for issuance (in shares)	2,050,000

Employee Benefits (Details)

Employee Benefits (Details) $ in Millions	1 Months Ended	6 Months Ended
	Mar. 31, 2023 USD ($)	Jun. 30, 2023 Employee shares
Benefit Plan [Abstract]
Number of former union employees covered by the plan | Employee		14
Supplemental Executive Retirement Plan [Member]
Defined Contribution Pension and Other Postretirement Plans [Abstract]
Employer discretionary contribution amount | $	$ 0.8
Employee Stock Ownership Plan and Trust (ESOP) [Member]
Employee Stock Ownership Plan (ESOP), Debt Structure [Abstract]
Additional shares contributed to ESOP (in shares)		72,800
Shares released from trust (in shares)		72,800
Total remaining balance of shares in the ESOP (in shares)		200

Derivative Financial Instrume_2

Derivative Financial Instruments (Details) - USD ($) $ in Millions	6 Months Ended
	Jun. 30, 2023	Mar. 31, 2023	Dec. 31, 2022	Jun. 30, 2022
Interest Rate Swap Agreement [Member]
Notional Disclosures [Abstract]
Derivative term of contract	7 years
Borrowings under credit agreement	$ 100		$ 100	$ 100
Term of variable rate	1 month
Fixed interest rate	2.683%
Derivative, credit spread adjustment percentage	0.10%
Margin on variable rate	1.50%
Interest Rate Swap [Member]
Notional Disclosures [Abstract]
Derivative term of contract	7 years
Derivative, notional amount				$ 100
Derivative contract, maturity date	May 31, 2029
Derivative fair value	$ 5.8	$ 5.2

Fair Value Measurements (Detail

Fair Value Measurements (Details) $ in Thousands	6 Months Ended
	Jun. 30, 2023 USD ($) Party	Dec. 31, 2022 USD ($)
Fair Value, Net Asset (Liability) [Abstract]
Number of independent third parties | Party	1
Fair Value [Member] | LEVEL 1 [Member]
Fair Value, Net Asset (Liability) [Abstract]
Cash and cash equivalents	$ 23,019	$ 21,150
Deferred compensation	23,104	20,190
Short term borrowings	58,728	55,031
Long-term debt	164,488	184,589
Fair Value [Member] | LEVEL 2 [Member]
Fair Value, Net Asset (Liability) [Abstract]
Cash flow interest rate swap	5,786	5,174
Carrying Amount [Member] | LEVEL 1 [Member]
Fair Value, Net Asset (Liability) [Abstract]
Cash and cash equivalents	23,019	21,150
Deferred compensation	23,104	20,190
Short term borrowings	58,728	55,031
Long-term debt	164,488	184,589
Carrying Amount [Member] | LEVEL 2 [Member]
Fair Value, Net Asset (Liability) [Abstract]
Cash flow interest rate swap	$ 5,786	$ 5,174

Earnings Per Share (Details)

Earnings Per Share (Details) - USD ($) $ / shares in Units, $ in Thousands		3 Months Ended		6 Months Ended
		Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022
Net Earnings Attributable to SMP [Abstract]
Earnings from continuing operations		$ 18,358	$ 20,792	$ 31,056	$ 41,354
Loss from discontinued operations		(9,221)	(1,666)	(10,001)	(2,782)
Net earnings attributable to SMP	[1]	$ 9,137	$ 19,126	$ 21,055	$ 38,572
Basic Net Earnings Per Common Share Attributable to SMP [Abstract]
Earnings from continuing operations per common share (in dollars per share)		$ 0.85	$ 0.96	$ 1.43	$ 1.89
Loss from discontinued operations per common share (in dollars per share)		(0.43)	(0.08)	(0.46)	(0.13)
Net earnings per common share - Basic (in dollars per share)		$ 0.42	$ 0.88	$ 0.97	$ 1.76
Weighted average common shares outstanding (in shares)		21,689,067	21,757,998	21,649,562	21,867,644
Diluted Net Earnings Per Common Share Attributable to SMP [Abstract]
Earnings from continuing operations per common share (in dollars per share)		$ 0.83	$ 0.93	$ 1.4	$ 1.85
Loss from discontinued operations per common share (in dollars per share)		(0.42)	(0.07)	(0.45)	(0.13)
Net earnings per common share - Diluted (in dollars per share)		$ 0.41	$ 0.86	$ 0.95	$ 1.72
Weighted average common shares outstanding (in shares)		21,689,067	21,757,998	21,649,562	21,867,644
Plus incremental shares from assumed conversions [Abstract]
Dilutive effect of restricted stock and performance-based stock (in shares)		494,000	498,000	490,000	505,000
Weighted average common shares outstanding - Diluted (in shares)		22,183,489	22,255,642	22,139,708	22,372,702
Restricted and Performance-Based Shares [Member]
Earnings Per Share [Abstract]
Antidilutive securities excluded from computation of earnings per share (in shares)		273,000	268,000	286,000	262,000
[1]Throughout this Form 10Q, “SMP” refers to Standard Motor Products, Inc. and subsidiaries.

Industry Segments (Details)

Industry Segments (Details) $ in Thousands		3 Months Ended		6 Months Ended
		Jun. 30, 2023 USD ($)	Jun. 30, 2022 USD ($)	Jun. 30, 2023 USD ($) Segment	Jun. 30, 2022 USD ($)
Segment Reporting Information, Profit (Loss) [Abstract]
Number of reportable operating segments | Segment				3
Net sales	[1]	$ 353,075	$ 359,412	$ 681,103	$ 682,243
Operating Income		27,178	27,893	47,924	54,808
Vehicle Control [Member] | Reportable Segments [Member]
Segment Reporting Information, Profit (Loss) [Abstract]
Net sales	[1]	183,789	185,771	368,366	363,035
Operating Income		19,273	16,059	36,648	36,403
Temperature Control [Member] | Reportable Segments [Member]
Segment Reporting Information, Profit (Loss) [Abstract]
Net sales	[1]	97,074	105,637	169,480	178,695
Operating Income		5,800	10,523	7,884	14,685
Engineered Solutions [Member] | Reportable Segments [Member]
Segment Reporting Information, Profit (Loss) [Abstract]
Net sales	[1]	72,212	68,004	143,257	140,513
Operating Income		6,163	5,109	11,810	11,397
Other [Member]
Segment Reporting Information, Profit (Loss) [Abstract]
Net sales	[1]	0	0	0	0
Operating Income		$ (4,058)	$ (3,798)	$ (8,418)	$ (7,677)
[1]There are no intersegment sales among our Vehicle Control, Temperature Control and Engineered Solutions operating segments.

Net Sales (Details)

Net Sales (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022
Disaggregation of Revenue [Abstract]
Disaggregation of net sales	$ 353,075	$ 359,412	$ 681,103	$ 682,243
United States [Member]
Disaggregation of Revenue [Abstract]
Disaggregation of net sales	301,862	322,598	582,051	599,870
Canada [Member]
Disaggregation of Revenue [Abstract]
Disaggregation of net sales	19,886	15,237	36,209	30,946
Europe [Member]
Disaggregation of Revenue [Abstract]
Disaggregation of net sales	15,162	10,447	30,444	21,984
Mexico [Member]
Disaggregation of Revenue [Abstract]
Disaggregation of net sales	10,235	6,771	20,590	14,562
Asia [Member]
Disaggregation of Revenue [Abstract]
Disaggregation of net sales	4,361	2,664	8,497	11,167
Other Foreign [Member]
Disaggregation of Revenue [Abstract]
Disaggregation of net sales	1,569	1,695	3,312	3,714
Vehicle Control [Member]
Disaggregation of Revenue [Abstract]
Disaggregation of net sales	183,789	185,771	368,366	363,035
Vehicle Control [Member] | United States [Member]
Disaggregation of Revenue [Abstract]
Disaggregation of net sales	165,198	171,083	331,610	332,154
Vehicle Control [Member] | Canada [Member]
Disaggregation of Revenue [Abstract]
Disaggregation of net sales	8,834	7,205	17,164	15,913
Vehicle Control [Member] | Europe [Member]
Disaggregation of Revenue [Abstract]
Disaggregation of net sales	248	176	446	368
Vehicle Control [Member] | Mexico [Member]
Disaggregation of Revenue [Abstract]
Disaggregation of net sales	8,179	6,000	16,766	12,083
Vehicle Control [Member] | Asia [Member]
Disaggregation of Revenue [Abstract]
Disaggregation of net sales	88	78	150	158
Vehicle Control [Member] | Other Foreign [Member]
Disaggregation of Revenue [Abstract]
Disaggregation of net sales	1,242	1,229	2,230	2,359
Vehicle Control [Member] | Engine Management (Ignition, Emission Control, Fuel Delivery [Member]
Disaggregation of Revenue [Abstract]
Disaggregation of net sales	113,589	111,581	229,672	220,730
Vehicle Control [Member] | Electrical and Safety [Member]
Disaggregation of Revenue [Abstract]
Disaggregation of net sales	52,867	57,054	104,671	109,311
Vehicle Control [Member] | Wire Sets and Other [Member]
Disaggregation of Revenue [Abstract]
Disaggregation of net sales	17,333	17,136	34,023	32,994
Temperature Control [Member]
Disaggregation of Revenue [Abstract]
Disaggregation of net sales	97,074	105,637	169,480	178,695
Temperature Control [Member] | United States [Member]
Disaggregation of Revenue [Abstract]
Disaggregation of net sales	92,099	101,204	161,670	170,516
Temperature Control [Member] | Canada [Member]
Disaggregation of Revenue [Abstract]
Disaggregation of net sales	4,926	4,089	7,681	7,588
Temperature Control [Member] | Europe [Member]
Disaggregation of Revenue [Abstract]
Disaggregation of net sales	0	20	0	35
Temperature Control [Member] | Mexico [Member]
Disaggregation of Revenue [Abstract]
Disaggregation of net sales	18	105	18	189
Temperature Control [Member] | Asia [Member]
Disaggregation of Revenue [Abstract]
Disaggregation of net sales	0	21	20	43
Temperature Control [Member] | Other Foreign [Member]
Disaggregation of Revenue [Abstract]
Disaggregation of net sales	31	198	91	324
Temperature Control [Member] | AC System Components [Member]
Disaggregation of Revenue [Abstract]
Disaggregation of net sales	74,449	81,608	120,201	128,982
Temperature Control [Member] | Other Thermal Components [Member]
Disaggregation of Revenue [Abstract]
Disaggregation of net sales	22,625	24,029	49,279	49,713
Engineered Solutions [Member]
Disaggregation of Revenue [Abstract]
Disaggregation of net sales	72,212	68,004	143,257	140,513
Engineered Solutions [Member] | United States [Member]
Disaggregation of Revenue [Abstract]
Disaggregation of net sales	44,565	50,311	88,771	97,200
Engineered Solutions [Member] | Canada [Member]
Disaggregation of Revenue [Abstract]
Disaggregation of net sales	6,126	3,943	11,364	7,445
Engineered Solutions [Member] | Europe [Member]
Disaggregation of Revenue [Abstract]
Disaggregation of net sales	14,914	10,251	29,998	21,581
Engineered Solutions [Member] | Mexico [Member]
Disaggregation of Revenue [Abstract]
Disaggregation of net sales	2,038	666	3,806	2,290
Engineered Solutions [Member] | Asia [Member]
Disaggregation of Revenue [Abstract]
Disaggregation of net sales	4,273	2,565	8,327	10,966
Engineered Solutions [Member] | Other Foreign [Member]
Disaggregation of Revenue [Abstract]
Disaggregation of net sales	296	268	991	1,031
Engineered Solutions [Member] | Commercial Vehicle [Member]
Disaggregation of Revenue [Abstract]
Disaggregation of net sales	26,742	19,503	46,599	40,954
Engineered Solutions [Member] | Construction Agriculture [Member]
Disaggregation of Revenue [Abstract]
Disaggregation of net sales	8,103	11,222	20,898	22,206
Engineered Solutions [Member] | Light Vehicle [Member]
Disaggregation of Revenue [Abstract]
Disaggregation of net sales	23,548	23,039	46,514	49,114
Engineered Solutions [Member] | All Other [Member]
Disaggregation of Revenue [Abstract]
Disaggregation of net sales	13,819	14,240	29,246	28,239
Other [Member]
Disaggregation of Revenue [Abstract]
Disaggregation of net sales	0	0	0	0
Other [Member] | United States [Member]
Disaggregation of Revenue [Abstract]
Disaggregation of net sales	0	0	0	0
Other [Member] | Canada [Member]
Disaggregation of Revenue [Abstract]
Disaggregation of net sales	0	0	0	0
Other [Member] | Europe [Member]
Disaggregation of Revenue [Abstract]
Disaggregation of net sales	0	0	0	0
Other [Member] | Mexico [Member]
Disaggregation of Revenue [Abstract]
Disaggregation of net sales	0	0	0	0
Other [Member] | Asia [Member]
Disaggregation of Revenue [Abstract]
Disaggregation of net sales	0	0	0	0
Other [Member] | Other Foreign [Member]
Disaggregation of Revenue [Abstract]
Disaggregation of net sales	$ 0	$ 0	$ 0	$ 0

Commitments and Contingencies,

Commitments and Contingencies, Asbestos and Other Litigation (Details) $ in Thousands		1 Months Ended		3 Months Ended	6 Months Ended		262 Months Ended
	May 11, 2023 USD ($)	Sep. 30, 2022 USD ($)	Aug. 31, 2021 USD ($)	Jun. 30, 2023 USD ($) Claim	Jun. 30, 2023 USD ($) Claim	Jun. 30, 2022 USD ($)	Jun. 30, 2023 USD ($) Claim	Dec. 31, 2022 USD ($)	Aug. 31, 2022 USD ($)
Asbestos [Abstract]
Accrued asbestos liabilities				$ 59,565	$ 59,565		$ 59,565	$ 63,305
Litigation settlement, amount awarded to other party	$ 11,000
Pre-tax provision in earnings (loss) From discontinue operations				$ 11,000
Asbestos [Member]
Asbestos [Abstract]
Pending claims, approximate number | Claim				1,465	1,465		1,465
Payment for settled claims and awards related damages, including interest							$ 68,300
Increase in range of possible loss from lower range			$ 7,900
Increase in range of possible loss from upper range			$ 11,400
Accrued asbestos liabilities		$ 68,800
Incremental pre-tax provision		$ 18,500
Asbestos [Member] | Minimum [Member]
Asbestos [Abstract]
Range of possible loss									$ 68,800
Asbestos [Member] | Maximum [Member]
Asbestos [Abstract]
Range of possible loss									111,600
Asbestos [Member] | Discontinued Operations [Member]
Asbestos [Abstract]
Total operating cash outflows related to discontinued operations					$ 4,500	$ 9,500
Asbestos [Member] | Discontinued Operations [Member] | Minimum [Member]
Asbestos [Abstract]
Range of possible loss									53,200
Asbestos [Member] | Discontinued Operations [Member] | Maximum [Member]
Asbestos [Abstract]
Range of possible loss									$ 105,700

Commitments and Contingencies_2

Commitments and Contingencies, Warranties (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022
Changes in product warranties [Roll forward]
Balance, beginning of period	$ 20,600	$ 20,711	$ 19,667	$ 17,463
Liabilities accrued for current year sales	30,047	30,295	55,840	52,921
Settlements of warranty claims	(27,061)	(27,240)	(51,921)	(46,618)
Balance, end of period	$ 23,586	$ 23,766	$ 23,586	$ 23,766