---
schema_version: "secwatch.filing_event.v1"
accession: "0001193125-23-003553"
form_type: "8-K"
ticker: "THRM"
cik: "0000903129"
company_name: "Gentherm Inc"
filed_at: "2023-01-06T23:59:59+00:00"
generated_at: "2026-06-20T19:11:12.747694+00:00"
event_type: "other_material"
sentiment: "negative"
materiality_score: 0.65
calibrated_materiality_score: 0.65
confidence: "high"
source: SEC EDGAR
---

# Gentherm to exit non-automotive electronics business, expects $13M-$18M in impairment charges

## Summary
- Board approved plan to exit non-automotive electronics business; evaluating sale or wind-down over 8-12 months.
- FY2022 product revenues from this business expected ~$17M; non-cash impairment charges of $13M-$18M.
- Impairment includes inventory ($7M-$12M), intangible assets (~$5M), and PP&E (~$1M); plus ~$500K transition costs.
- Company says no impact on automotive electronics business; charges excluded from non-GAAP 2022 metrics.

## SEC filing metadata
- accession: 0001193125-23-003553
- form_type: 8-K
- ticker: THRM
- cik: 0000903129
- company_name: Gentherm Inc
- filed_at: 2023-01-06T23:59:59+00:00
- event_type: other_material
- sentiment: negative
- materiality_score: 0.65
- calibrated_materiality_score: 0.65
- confidence: high
- sec_items: 2.05, 2.06, 8.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/903129/000119312523003553/0001193125-23-003553-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/903129/000119312523003553/d424114d8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001193125-23-003553
- JSON: https://secwatch.observer/filing/0001193125-23-003553.json
- Plain text: https://secwatch.observer/filing/0001193125-23-003553.txt

## Key facts
- Restructurings & Charges
  Gentherm Inc announced a restructuring with charges of between $13 million and $18 million affecting non-automotive electronics business.
  - Type: restructuring
  - Charge: between $13 million and $18 million
  - Affected area: non-automotive electronics business
  source text: be utilized by other operations of the Company. In connection with approval of the plan to exit the Business, the Company is expected to incur total non-cash expenses of between $13 million and $18 million, including impairment of inventory of between $7 million and $12 million, impairment of intangible assets of approximately $5 million, and impairment of a portion
  evidence_url: https://www.sec.gov/Archives/edgar/data/903129/000119312523003553/0001193125-23-003553-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.