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As Of Filer Filing For·On·As Docs:Size 11/03/23 Gentex Corp. 10-Q 9/30/23 70:6.6M |
Document/Exhibit Description Pages Size 1: 10-Q Quarterly Report HTML 1.26M 2: EX-10 Material Contract HTML 39K 3: EX-31.1 Certification -- §302 - SOA'02 HTML 23K 4: EX-31.2 Certification -- §302 - SOA'02 HTML 23K 5: EX-32 Certification -- §906 - SOA'02 HTML 20K 11: R1 Cover Page HTML 72K 12: R2 Unaudited Condensed Consolidated Balance Sheets HTML 118K 13: R3 Unaudited Condensed Consolidated Statements of HTML 94K Income 14: R4 Unaudited Condensed Consolidated Statements of HTML 55K Comprehensive Income 15: R5 Unaudited Condensed Consolidated Statements of HTML 93K Shareholders' Investment 16: R6 Unaudited Condensed Consolidated Statements of HTML 22K Shareholders' Investment (Parenthetical) 17: R7 Unaudited Condensed Consolidated Statements of HTML 104K Cash Flows 18: R8 Basis of Presentation HTML 23K 19: R9 Goodwill and Other Intangible Assets HTML 78K 20: R10 Investments HTML 161K 21: R11 Inventories HTML 27K 22: R12 Earnings Per Share HTML 59K 23: R13 Stock-Based Compensation Plans HTML 55K 24: R14 Comprehensive Income (Loss) HTML 65K 25: R15 Debt and Financing Arrangements HTML 27K 26: R16 Equity HTML 27K 27: R17 Contingencies HTML 22K 28: R18 Segment Reporting HTML 42K 29: R19 Income Taxes HTML 24K 30: R20 Revenue HTML 65K 31: R21 Leases HTML 32K 32: R22 Subsequent Event HTML 23K 33: R23 Goodwill and Other Intangible Assets (Tables) HTML 79K 34: R24 Investments (Tables) HTML 161K 35: R25 Inventories (Tables) HTML 28K 36: R26 Earnings Per Share (Tables) HTML 57K 37: R27 Stock-Based Compensation Plans (Tables) HTML 45K 38: R28 Comprehensive Income (Loss) (Tables) HTML 65K 39: R29 Segment Reporting (Tables) HTML 39K 40: R30 Revenue (Tables) HTML 61K 41: R31 Leases (Tables) HTML 33K 42: R32 Goodwill and Other Intangible Assets - Narrative HTML 61K (Details) 43: R33 Goodwill and Other Intangible Assets - Schedule of HTML 34K Goodwill (Details) 44: R34 Goodwill and Other Intangible Assets - Schedule of HTML 71K Intangible Assets (Details) 45: R35 Investments - Narrative (Details) HTML 47K 46: R36 Investments - Schedule of Assets or Liabilities, HTML 97K Recurring Fair Value Measurements (Details) 47: R37 Investments - Schedule of Amortized Cost, HTML 65K Unrealized Gains and Losses, and Market Value of Investment Securities (Details) 48: R38 Investments - Schedule of Unrealized Loss on HTML 36K Investment (Details) 49: R39 Investments - Schedule of Investments Classified HTML 34K by Contractual Maturity Date (Details) 50: R40 Inventories (Details) HTML 28K 51: R41 Earnings Per Share (Details) HTML 71K 52: R42 Stock-Based Compensation Plans - Narrative HTML 84K (Details) 53: R43 Stock-Based Compensation Plans - Schedule of HTML 48K Shares Issued Net of Shares Canceled/Expired (Details) 54: R44 Stock-Based Compensation Plans - Schedule of HTML 32K Weighted-Average Assumptions for the ESOP (Details) 55: R45 Comprehensive Income (Loss) - Schedule of AOCI HTML 50K Rollforward (Details) 56: R46 Comprehensive Income (Loss) - Schedule of HTML 44K Reclassifications Out of Accumulated Other Comprehensive Loss (Details) 57: R47 Debt and Financing Arrangements (Details) HTML 42K 58: R48 Equity (Details) HTML 33K 59: R49 Segment Reporting - Narrative (Details) HTML 23K 60: R50 Segment Reporting - Schedule of Segment Reporting HTML 34K (Details) 61: R51 Income Taxes (Details) HTML 21K 62: R52 Revenue (Details) HTML 57K 63: R53 Leases - Narrative (Details) HTML 30K 64: R54 Leases - Schedule of Future Minimum Lease Payments HTML 46K (Details) 65: R55 Subsequent Event (Details) HTML 28K 68: XML IDEA XML File -- Filing Summary XML 121K 66: XML XBRL Instance -- gntx-20230930_htm XML 1.88M 67: EXCEL IDEA Workbook of Financial Report Info XLSX 117K 7: EX-101.CAL XBRL Calculations -- gntx-20230930_cal XML 199K 8: EX-101.DEF XBRL Definitions -- gntx-20230930_def XML 394K 9: EX-101.LAB XBRL Labels -- gntx-20230930_lab XML 1.19M 10: EX-101.PRE XBRL Presentations -- gntx-20230930_pre XML 717K 6: EX-101.SCH XBRL Schema -- gntx-20230930 XSD 122K 69: JSON XBRL Instance as JSON Data -- MetaLinks 420± 612K 70: ZIP XBRL Zipped Folder -- 0000355811-23-000056-xbrl Zip 271K
gntx-20230930 |
i ☑ | QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 |
i ☐ | TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 |
i Michigan | i 38-2030505 | |||||||
(State
or other jurisdiction of incorporation or organization) | (I.R.S. Employer Identification No.) | |||||||
i 600 N. Centennial | ||||||||
i Zeeland | ||||||||
i Michigan | i 49464 | |||||||
(Address
of principal executive offices) | (Zip Code) |
Title of each class | Trading Symbol(s) | Name of each exchange on which registered | ||||||
i Common Stock, par value $0.06 per share | i GNTX | i NASDAQ Global Select Market |
i Large
accelerated filer | ☑ | Accelerated filer | ☐ | |||||||||||
Non-accelerated filer | ☐ | Smaller reporting company | i ☐ | |||||||||||
Emerging
growth company | i ☐ |
Class | Shares Outstanding, October 27, 2023 | |||||||
Common Stock, $.06 Par Value | i 233,252,591 |
Part I - Financial Information | Page | |||||||
Item 1. | ||||||||
Item 2. | ||||||||
Item 3. | ||||||||
Item 4. | ||||||||
Part II - Other Information | ||||||||
Item 1A. | ||||||||
Item 2. | ||||||||
Item 6. | ||||||||
September 30, 2023 (Unaudited) | (Note) | ||||||||||
ASSETS | |||||||||||
CURRENT ASSETS | |||||||||||
Cash and cash equivalents | $ | i 260,633,625 | $ | i 214,754,638 | |||||||
Restricted Cash | i — | i 4,000,000 | |||||||||
Short-term investments | i 17,464,830 | i 23,007,385 | |||||||||
Accounts receivable, net | i 351,142,147 | i 276,493,752 | |||||||||
Inventories | i 395,452,780 | i 404,360,270 | |||||||||
Prepaid expenses and other | i 30,758,445 | i 26,036,331 | |||||||||
Total current assets | i 1,055,451,827 | i 948,652,376 | |||||||||
PLANT AND EQUIPMENT—NET | i 606,180,738 | i 550,033,036 | |||||||||
OTHER ASSETS | |||||||||||
Goodwill | i 313,157,393 | i 313,807,494 | |||||||||
Long-term investments | i 272,615,535 | i 202,331,983 | |||||||||
Intangible assets, net | i 204,885,910 | i 219,360,910 | |||||||||
Deferred tax asset | i 36,513,490 | i 25,528,700 | |||||||||
Patents and other assets, net | i 69,513,945 | i 67,515,425 | |||||||||
Total other assets | i 896,686,273 | i 828,544,512 | |||||||||
Total assets | $ | i 2,558,318,838 | $ | i 2,327,229,924 | |||||||
LIABILITIES AND SHAREHOLDERS’ INVESTMENT | |||||||||||
CURRENT LIABILITIES | |||||||||||
Accounts payable | $ | i 171,359,850 | $ | i 151,740,046 | |||||||
Accrued liabilities | i 103,045,653 | i 98,812,706 | |||||||||
Total current liabilities | i 274,405,503 | i 250,552,752 | |||||||||
OTHER NON-CURRENT LIABILITIES | i 15,459,528 | i 10,884,351 | |||||||||
Total liabilities | i 289,865,031 | i 261,437,103 | |||||||||
SHAREHOLDERS’ INVESTMENT | |||||||||||
Common stock | i 13,995,548 | i 14,050,160 | |||||||||
Additional paid-in capital | i 961,199,149 | i 917,499,323 | |||||||||
Retained earnings | i 1,306,931,850 | i 1,148,386,272 | |||||||||
Accumulated other comprehensive loss | ( i 13,672,740) | ( i 14,142,934) | |||||||||
Total shareholders’ investment | i 2,268,453,807 | i 2,065,792,821 | |||||||||
Total liabilities and shareholders’ investment | $ | i 2,558,318,838 | $ | i 2,327,229,924 |
Three Months Ended September 30, | Nine Months Ended September 30, | ||||||||||||||||||||||
2023 | 2022 | 2023 | 2022 | ||||||||||||||||||||
NET
SALES | $ | i 575,848,490 | $ | i 493,636,695 | $ | i 1,710,082,647 | $ | i 1,425,310,472 | |||||||||||||||
COST
OF GOODS SOLD | i 384,407,857 | i 346,435,670 | i 1,150,821,744 | i 969,330,474 | |||||||||||||||||||
Gross profit | i 191,440,633 | i 147,201,025 | i 559,260,903 | i 455,979,998 | |||||||||||||||||||
OPERATING
EXPENSES: | |||||||||||||||||||||||
Engineering, research and development | i 40,197,517 | i 33,541,331 | i 112,825,054 | i 98,373,737 | |||||||||||||||||||
Selling, general & administrative | i 28,826,587 | i 26,868,154 | i 83,479,285 | i 81,717,848 | |||||||||||||||||||
Total operating expenses | i 69,024,104 | i 60,409,485 | i 196,304,339 | i 180,091,585 | |||||||||||||||||||
Income from operations | i 122,416,529 | i 86,791,540 | i 362,956,564 | i 275,888,413 | |||||||||||||||||||
OTHER INCOME (LOSS) | |||||||||||||||||||||||
Investment income | i 3,851,967 | i 1,496,852 | i 9,682,096 | i 3,205,452 | |||||||||||||||||||
Other loss, net | ( i 1,788,335) | ( i 2,126,039) | ( i 3,559,613) | ( i 4,828,119) | |||||||||||||||||||
Total other income (loss) | i 2,063,632 | ( i 629,187) | i 6,122,483 | ( i 1,622,667) | |||||||||||||||||||
INCOME BEFORE PROVISION FOR INCOME TAXES | i 124,480,161 | i 86,162,353 | i 369,079,047 | i 274,265,746 | |||||||||||||||||||
PROVISION FOR INCOME TAXES | i 19,754,749 | i 13,506,358 | i 57,619,971 | i 41,676,723 | |||||||||||||||||||
NET INCOME | $ | i 104,725,412 | $ | i 72,655,995 | $ | i 311,459,076 | $ | i 232,589,023 | |||||||||||||||
EARNINGS
PER SHARE: (1) | |||||||||||||||||||||||
Basic | $ | i 0.45 | $ | i 0.31 | $ | i 1.33 | $ | i 0.99 | |||||||||||||||
Diluted | $ | i 0.45 | $ | i 0.31 | $ | i 1.33 | $ | i 0.99 | |||||||||||||||
Cash Dividends Declared per Share | $ | i 0.120 | $ | i 0.120 | $ | i 0.360 | $ | i 0.360 | |||||||||||||||
(1)
Earnings Per Share has been adjusted to exclude the portion of net income allocated to participating securities as a result of share-based payment awards. |
Three Months Ended September 30, | Nine Months Ended September 30, | ||||||||||||||||||||||
2023 | 2022 | 2023 | 2022 | ||||||||||||||||||||
Net income | $ | i 104,725,412 | $ | i 72,655,995 | $ | i 311,459,076 | $ | i 232,589,023 | |||||||||||||||
Other comprehensive (loss) income before tax: | |||||||||||||||||||||||
Foreign currency translation adjustments | ( i 717,457) | i 17,751,603 | ( i 2,295,001) | i 13,723,857 | |||||||||||||||||||
Unrealized gains (losses) on debt securities, net | i 363,905 | ( i 4,442,743) | i 3,500,247 | ( i 15,652,081) | |||||||||||||||||||
Other comprehensive (loss) income, before tax | ( i 353,552) | i 13,308,860 | i 1,205,246 | ( i 1,928,224) | |||||||||||||||||||
Income tax impact related to components of other comprehensive income (loss) | i 76,420 | ( i 932,976) | i 735,052 | ( i 3,286,937) | |||||||||||||||||||
Other comprehensive (loss) income, net of tax | ( i 429,972) | i 14,241,836 | i 470,194 | i 1,358,713 | |||||||||||||||||||
Comprehensive income | $ | i 104,295,440 | $ | i 86,897,831 | $ | i 311,929,270 | $ | i 233,947,736 |
Common Stock Shares | Common Stock Amount | Additional Paid-In Capital | Retained Earnings | Accumulated Other Comprehensive Income (Loss) | Total Shareholders’ Investment | ||||||||||||||||||||||||||||||
BALANCE AS OF JULY 1, 2023 | i 233,429,994 | $ | i 14,005,799 | $ | i 942,660,764 | $ | i 1,252,525,531 | $ | ( i 13,242,768) | $ | i 2,195,949,326 | ||||||||||||||||||||||||
Issuance of common stock from stock plan transactions | i 605,637 | i 36,338 | i 10,385,712 | i 10,422,050 | |||||||||||||||||||||||||||||||
Repurchases of common stock | ( i 776,488) | ( i 46,589) | ( i 2,795,358) | ( i 22,327,431) | ( i 25,169,378) | ||||||||||||||||||||||||||||||
Stock-based compensation expense related to stock options, employee stock purchases and restricted stock | i 10,948,031 | i 10,948,031 | |||||||||||||||||||||||||||||||||
Dividends
declared ($ i 0.12 per share) | ( i 27,991,662) | ( i 27,991,662) | |||||||||||||||||||||||||||||||||
Net income | i 104,725,412 | i 104,725,412 | |||||||||||||||||||||||||||||||||
Other comprehensive loss | ( i 429,972) | ( i 429,972) | |||||||||||||||||||||||||||||||||
BALANCE AS OF SEPTEMBER 30, 2023 | i 233,259,143 | $ | i 13,995,548 | $ | i 961,199,149 | $ | i 1,306,931,850 | $ | ( i 13,672,740) | $ | i 2,268,453,807 | ||||||||||||||||||||||||
BALANCE AS OF JULY 1, 2022 | i 235,132,265 | $ | i 14,107,936 | $ | i 900,576,404 | $ | i 1,082,846,019 | $ | ( i 10,955,879) | $ | i 1,986,574,480 | ||||||||||||||||||||||||
Issuance of common stock from stock plan transactions | i 315,433 | i 18,926 | i 3,351,010 | — | — | i 3,369,936 | |||||||||||||||||||||||||||||
Repurchases of common stock | ( i 850,306) | ( i 51,019) | ( i 2,916,551) | ( i 19,289,212) | — | ( i 22,256,782) | |||||||||||||||||||||||||||||
Stock-based compensation expense related to stock options, employee stock purchases and restricted stock | — | — | i 7,611,546 | — | — | i 7,611,546 | |||||||||||||||||||||||||||||
Dividends
declared ($ i 0.12 per share) | — | — | — | ( i 28,151,347) | — | ( i 28,151,347) | |||||||||||||||||||||||||||||
Net income | — | — | — | i 72,655,995 | — | i 72,655,995 | |||||||||||||||||||||||||||||
Other comprehensive loss | — | — | — | — | i 14,241,836 | i 14,241,836 | |||||||||||||||||||||||||||||
BALANCE AS OF SEPTEMBER 30, 2022 | i 234,597,392 | $ | i 14,075,843 | $ | i 908,622,409 | $ | i 1,108,061,455 | $ | i 3,285,957 | $ | i 2,034,045,664 |
Common Stock Shares | Common Stock Amount | Additional Paid-In Capital | Retained Earnings | Accumulated Other Comprehensive Loss | Total Shareholders’ Investment | ||||||||||||||||||||||||||||||
BALANCE AS OF JANUARY 1, 2023 | i 234,169,335 | $ | i 14,050,160 | $ | i 917,499,323 | $ | i 1,148,386,272 | $ | ( i 14,142,934) | $ | i 2,065,792,821 | ||||||||||||||||||||||||
Issuance of common stock from stock plan transactions | i 1,833,596 | i 110,016 | i 24,194,845 | — | — | i 24,304,861 | |||||||||||||||||||||||||||||
Repurchases of common stock | ( i 2,743,788) | ( i 164,628) | ( i 9,707,255) | ( i 68,863,618) | — | ( i 78,735,501) | |||||||||||||||||||||||||||||
Stock-based compensation expense related to stock options, employee stock purchases and restricted stock | — | — | i 29,212,236 | — | — | i 29,212,236 | |||||||||||||||||||||||||||||
Dividends
declared ($ i 0.36 per share) | — | — | — | ( i 84,049,880) | — | ( i 84,049,880) | |||||||||||||||||||||||||||||
Net income | — | — | — | i 311,459,076 | — | i 311,459,076 | |||||||||||||||||||||||||||||
Other comprehensive income | — | — | — | — | i 470,194 | i 470,194 | |||||||||||||||||||||||||||||
BALANCE AS OF SEPTEMBER 30, 2023 | i 233,259,143 | $ | i 13,995,548 | $ | i 961,199,149 | $ | i 1,306,931,850 | $ | ( i 13,672,740) | $ | i 2,268,453,807 | ||||||||||||||||||||||||
BALANCE AS OF JANUARY 1, 2022 | i 236,440,840 | $ | i 14,186,450 | $ | i 879,413,385 | $ | i 1,042,461,388 | $ | i 1,927,244 | $ | i 1,937,988,467 | ||||||||||||||||||||||||
Issuance of common stock from stock plan transactions | i 1,284,615 | i 77,077 | i 12,288,026 | — | — | i 12,365,103 | |||||||||||||||||||||||||||||
Issuance of common stock related to acquisitions | i 162,433 | i 9,746 | i 4,990,266 | — | — | i 5,000,012 | |||||||||||||||||||||||||||||
Repurchases of common stock | ( i 3,290,496) | ( i 197,430) | ( i 11,042,381) | ( i 82,268,993) | — | ( i 93,508,804) | |||||||||||||||||||||||||||||
Stock-based compensation expense related to stock options, employee stock purchases and restricted stock | — | — | i 22,973,113 | — | — | i 22,973,113 | |||||||||||||||||||||||||||||
Dividends
declared ($ i 0.36 per share) | — | — | — | ( i 84,719,963) | — | ( i 84,719,963) | |||||||||||||||||||||||||||||
Net income | — | — | — | i 232,589,023 | — | i 232,589,023 | |||||||||||||||||||||||||||||
Other comprehensive loss | — | — | — | — | i 1,358,713 | i 1,358,713 | |||||||||||||||||||||||||||||
BALANCE AS OF SEPTEMBER 30, 2022 | i 234,597,392 | $ | i 14,075,843 | $ | i 908,622,409 | $ | i 1,108,061,455 | $ | i 3,285,957 | $ | i 2,034,045,664 |
2023 | 2022 | ||||||||||
CASH FLOWS FROM OPERATING ACTIVITIES: | |||||||||||
Net income | $ | i 311,459,076 | $ | i 232,589,023 | |||||||
Adjustments to reconcile net income to net cash provided by operating activities: | |||||||||||
Depreciation and amortization | i 71,001,177 | i 73,289,065 | |||||||||
(Gain) on disposal of assets | ( i 271,510) | ( i 56,257) | |||||||||
Loss on disposal of assets | i 250,435 | i 22,096 | |||||||||
(Gain) on sale of investments and equity method investment income | ( i 2,747,586) | ( i 391,378) | |||||||||
Loss on sale of investments and equity method investment losses | i 6,840,692 | i 1,248,450 | |||||||||
Change in deferred income taxes | ( i 11,870,944) | i 4,785,787 | |||||||||
Stock-based compensation expense related to employee stock options, employee stock purchases and restricted stock | i 29,212,236 | i 22,973,113 | |||||||||
Change in operating assets and liabilities: | |||||||||||
Accounts receivable, net | ( i 74,648,395) | ( i 42,618,585) | |||||||||
Inventories | i 8,907,490 | ( i 102,018,719) | |||||||||
Prepaid expenses and other | ( i 5,416,624) | ( i 16,978,469) | |||||||||
Accounts payable | i 27,451,773 | i 52,511,201 | |||||||||
Accrued liabilities, excluding dividends declared | i 7,500,486 | i 11,002,238 | |||||||||
Net cash provided by operating activities | i 367,668,306 | i 236,357,565 | |||||||||
CASH FLOWS USED FOR INVESTING ACTIVITIES: | |||||||||||
Activity in investments: | |||||||||||
Sales proceeds | i 32,839,883 | i 37,429,595 | |||||||||
Maturities and calls | i 14,435,000 | i 3,500,000 | |||||||||
Purchases | ( i 112,608,739) | ( i 49,554,476) | |||||||||
Plant and equipment additions | ( i 121,393,801) | ( i 108,475,787) | |||||||||
Proceeds from sale of plant and equipment | i 185,610 | i 91,949 | |||||||||
Increase in other assets | ( i 2,533,687) | ( i 2,310,428) | |||||||||
Net cash used for investing activities | ( i 189,075,734) | ( i 119,319,147) | |||||||||
CASH FLOWS USED FOR FINANCING ACTIVITIES: | |||||||||||
Issuance of common stock from stock plan transactions | i 24,304,861 | i 12,365,103 | |||||||||
Cash dividends paid | ( i 84,159,105) | ( i 84,941,178) | |||||||||
Repurchases of common stock | ( i 76,859,341) | ( i 83,840,290) | |||||||||
Net cash used for financing activities | ( i 136,713,585) | ( i 156,416,365) | |||||||||
NET INCREASE IN CASH AND CASH EQUIVALENTS | i 41,878,987 | ( i 39,377,947) | |||||||||
CASH, CASH EQUIVALENTS, and RESTRICTED CASH, beginning of period | i 218,754,638 | i 262,311,670 | |||||||||
CASH, CASH EQUIVALENTS, and RESTRICTED CASH, end of period | $ | i 260,633,625 | $ | i 222,933,723 |
Nine Months Ended September 30, | |||||||||||
SUPPLEMENTAL CASH FLOW DATA | 2023 | 2022 | |||||||||
Non-cash investing and financing activities: | |||||||||||
Property and equipment in accounts payable and accrued expenses and other current liabilities | $ | i 9,708,125 | $ | i 5,064,356 |
Carrying Amount | |||||
Balance as of December 31, 2022 | $ | i 313,807,494 | |||
Acquisitions | i — | ||||
Divestitures | i — | ||||
Impairments | i — | ||||
Other | ( i 650,101) | ||||
Balance as of September 30, 2023 | $ | i 313,157,393 |
Other Intangible Assets | Gross | Accumulated Amortization | Net | Assumed Useful Life | ||||||||||
Gentex Patents | $ | i 39,170,904 | $ | ( i 27,611,804) | $ | i 11,559,100 | Various | |||||||
Other Intangible Assets | ||||||||||||||
HomeLink® Trade Names and Trademarks | $ | i 52,000,000 | $ | — | $ | i 52,000,000 | Indefinite | |||||||
HomeLink®
Technology | i 180,000,000 | ( i 150,000,000) | i 30,000,000 | i 12 years | ||||||||||
Existing Customer Platforms | i 43,000,000 | ( i 43,000,000) | i — | i 10 years | ||||||||||
Exclusive Licensing Agreement | i 96,000,000 | — | i 96,000,000 | Indefinite | ||||||||||
Vaporsens In-Process R&D | i 11,000,000 | — | i 11,000,000 | Indefinite | ||||||||||
Argil In-Process R&D | i 6,278,132 | — | i 6,278,132 | Indefinite | ||||||||||
Air-Craftglass In-Process R&D | i 1,507,778 | — | i 1,507,778 | Indefinite | ||||||||||
Guardian Trade Names | i 1,300,000 | — | i 1,300,000 | Indefinite | ||||||||||
Guardian In-Process R&D | i 6,800,000 | — | i 6,800,000 | Indefinite | ||||||||||
Total Other Intangible Assets | $ | i 397,885,910 | $ | ( i 193,000,000) | $ | i 204,885,910 | ||||||||
Total Patents & Other Intangible Assets | $ | i 437,056,814 | $ | ( i 220,611,804) | $ | i 216,445,010 |
Other Intangible Assets | Gross | Accumulated Amortization | Net | Assumed Useful Life | ||||||||||
Gentex Patents | $ | i 40,653,851 | $ | ( i 27,820,383) | $ | i 12,833,468 | Various | |||||||
Other Intangible Assets | ||||||||||||||
HomeLink® Trade Names and Trademarks | $ | i 52,000,000 | $ | — | $ | i 52,000,000 | Indefinite | |||||||
HomeLink®
Technology | i 180,000,000 | ( i 138,750,000) | i 41,250,000 | i 12 years | ||||||||||
Existing Customer Platforms | i 43,000,000 | ( i 39,775,000) | i 3,225,000 | i 10 years | ||||||||||
Exclusive Licensing Agreement | i 96,000,000 | — | i 96,000,000 | Indefinite | ||||||||||
Vaporsens In-Process R&D | i 11,000,000 | — | i 11,000,000 | Indefinite | ||||||||||
Argil In-Process R&D | i 6,278,132 | — | i 6,278,132 | Indefinite | ||||||||||
Air-Craftglass In-Process R&D | i 1,507,778 | — | i 1,507,778 | Indefinite | ||||||||||
Guardian Trade Names | i 1,300,000 | — | i 1,300,000 | Indefinite | ||||||||||
Guardian In-Process R&D | i 6,800,000 | — | i 6,800,000 | Indefinite | ||||||||||
Total Other Intangible Assets | $ | i 397,885,910 | $ | ( i 178,525,000) | $ | i 219,360,910 | ||||||||
Total Patents & Other Intangible Assets | $ | i 438,539,761 | $ | ( i 206,345,383) | $ | i 232,194,378 |
Fair Value Measurements at Reporting Date Using | |||||||||||||||||||||||
Total as of | Quoted Prices in Active Markets for Identical Assets | Significant Other Observable Inputs | Significant Unobservable Inputs | ||||||||||||||||||||
Description | September 30, 2023 | (Level 1) | (Level 2) | (Level 3) | |||||||||||||||||||
Cash & Cash Equivalents | $ | i 260,633,625 | $ | i 260,633,625 | $ | i — | $ | i — | |||||||||||||||
Short-Term Investments: | |||||||||||||||||||||||
Certificate of Deposit | i 989,198 | i 989,198 | i — | i — | |||||||||||||||||||
Corporate Bonds | i 1,927,301 | i — | i 1,927,301 | i — | |||||||||||||||||||
Government Securities | i 5,176,215 | i — | i 5,176,215 | i — | |||||||||||||||||||
Municipal Bonds | i 2,409,861 | i — | i 2,409,861 | i — | |||||||||||||||||||
Other | i 4,723,625 | i 1,256,600 | i 3,467,025 | i — | |||||||||||||||||||
Long-Term Investments: | |||||||||||||||||||||||
Asset Backed Securities | i 21,064,870 | i — | i 21,064,870 | i — | |||||||||||||||||||
Certificate of Deposit | i 740,950 | i 740,950 | i — | i — | |||||||||||||||||||
Corporate Bonds | i 50,484,099 | i — | i 50,484,099 | i — | |||||||||||||||||||
Government Securities | i 28,297,530 | i — | i 28,297,530 | i — | |||||||||||||||||||
Municipal Bonds | i 47,583,725 | i — | i 47,583,725 | i — | |||||||||||||||||||
Common Stock | i 1,386,988 | i 1,386,988 | i — | i — | |||||||||||||||||||
Total | $ | i 425,417,987 | $ | i 265,007,361 | $ | i 160,410,626 | $ | i — |
Fair Value Measurements at Reporting Date Using | |||||||||||||||||||||||
Total as of | Quoted Prices in Active
Markets for Identical Assets | Significant Other Observable Inputs | Significant Unobservable Inputs | ||||||||||||||||||||
Description | December 31, 2022 | (Level 1) | (Level 2) | (Level 3) | |||||||||||||||||||
Cash & Cash Equivalents | $ | i 214,754,638 | $ | i 214,754,638 | $ | i — | $ | i — | |||||||||||||||
Restricted Cash | i 4,000,000 | i 4,000,000 | i — | i — | |||||||||||||||||||
Short-Term Investments: | |||||||||||||||||||||||
Certificate of Deposit | i 1,736,163 | i 1,736,163 | i — | i — | |||||||||||||||||||
Corporate Bonds | i 5,473,341 | i — | i 5,473,341 | i — | |||||||||||||||||||
Government Securities | i 4,423,041 | i — | i 4,423,041 | i — | |||||||||||||||||||
Municipal Bonds | i 5,174,773 | i — | i 5,174,773 | i — | |||||||||||||||||||
Other | i 2,347,602 | i 1,093,602 | i 1,254,000 | i — | |||||||||||||||||||
Long-Term Investments: | |||||||||||||||||||||||
Asset-backed Securities | i 18,829,696 | i — | i 18,829,696 | i — | |||||||||||||||||||
Certificate of Deposit | i 238,925 | i 238,925 | i — | i — | |||||||||||||||||||
Corporate Bonds | i 36,310,477 | i — | i 36,310,477 | i — | |||||||||||||||||||
Governmental Securities | i 36,532,634 | i — | i 36,532,634 | i — | |||||||||||||||||||
Municipal Bonds | i 48,430,166 | i — | i 48,430,166 | i | |||||||||||||||||||
Common Stock | i 293,300 | i 293,300 | i — | i — | |||||||||||||||||||
Total | $ | i 378,544,756 | $ | i 222,116,628 | $ | i 156,428,128 | $ | i — | |||||||||||||||
Unrealized | |||||||||||||||||||||||
Cost | Gains | Losses | Market
Value | ||||||||||||||||||||
Short-Term Investments: | |||||||||||||||||||||||
Certificate of Deposit | $ | i 1,000,000 | $ | i — | $ | ( i 10,802) | $ | i 989,198 | |||||||||||||||
Corporate Bonds | i 1,982,128 | i — | ( i 54,827) | i 1,927,301 | |||||||||||||||||||
Government Securities | i 5,198,015 | i — | ( i 21,800) | i 5,176,215 | |||||||||||||||||||
Municipal Bonds | i 2,431,031 | i — | ( i 21,170) | i 2,409,861 | |||||||||||||||||||
Other | i 4,723,625 | i — | i — | i 4,723,625 | |||||||||||||||||||
Long-Term Investments: | |||||||||||||||||||||||
Asset Backed Securities | i 21,273,402 | i — | ( i 208,532) | i 21,064,870 | |||||||||||||||||||
Certificate of Deposit | i 750,000 | i — | ( i 9,050) | i 740,950 | |||||||||||||||||||
Corporate Bonds | i 53,814,699 | i — | ( i 3,330,600) | i 50,484,099 | |||||||||||||||||||
Government Securities | i 29,640,890 | i — | ( i 1,343,360) | i 28,297,530 | |||||||||||||||||||
Municipal Bonds | i 51,881,686 | i 378,802 | ( i 4,676,763) | i 47,583,725 | |||||||||||||||||||
Common Stock | i 1,637,386 | i 2,311 | ( i 252,709) | i 1,386,988 | |||||||||||||||||||
Total | $ | i 174,332,862 | $ | i 381,113 | $ | ( i 9,929,613) | $ | i 164,784,362 |
Unrealized | |||||||||||||||||||||||
Cost | Gains | Losses | Market Value | ||||||||||||||||||||
Short-Term Investments: | |||||||||||||||||||||||
Certificate of Deposit | $ | i 1,750,256 | $ | i — | $ | ( i 14,093) | $ | i 1,736,163 | |||||||||||||||
Corporate Bonds | i 5,571,417 | i — | ( i 98,076) | i 5,473,341 | |||||||||||||||||||
Government Securities | i 4,476,613 | i — | ( i 53,572) | i 4,423,041 | |||||||||||||||||||
Municipal Bonds | i 5,223,500 | i — | ( i 48,727) | i 5,174,773 | |||||||||||||||||||
Other | i 2,347,602 | i — | i — | i 2,347,602 | |||||||||||||||||||
Long-Term Investments: | |||||||||||||||||||||||
Asset-backed Securities | i 19,151,229 | i — | ( i 321,533) | i 18,829,696 | |||||||||||||||||||
Certificate of Deposit | i 250,000 | i — | ( i 11,075) | i 238,925 | |||||||||||||||||||
Corporate Bonds | i 40,410,206 | i — | ( i 4,099,729) | i 36,310,477 | |||||||||||||||||||
Government Securities | i 39,637,461 | i — | ( i 3,104,827) | i 36,532,634 | |||||||||||||||||||
Municipal Bonds | i 53,476,883 | i 235,713 | ( i 5,282,430) | i 48,430,166 | |||||||||||||||||||
Common Stock | i 292,638 | i 662 | i — | i 293,300 | |||||||||||||||||||
Total | $ | i 172,587,805 | $ | i 236,375 | $ | ( i 13,034,062) | $ | i 159,790,118 |
Aggregate Unrealized Losses | Aggregate Fair Value of Investments | ||||||||||
Loss duration of less than one year | $ | i 1,340,283 | $ | i 51,123,646 | |||||||
Loss duration of greater than one year | i 8,589,330 | i 103,252,208 | |||||||||
Total | $ | i 9,929,613 | $ | i 154,375,854 |
Aggregate Unrealized Losses | Aggregate Fair Value of Investments | ||||||||||
Loss duration of less than one year | $ | i 4,816,103 | $ | i 77,701,146 | |||||||
Loss duration of greater than one year | i 8,217,959 | i 76,643,586 | |||||||||
Total | $ | i 13,034,062 | $ | i 154,344,732 |
Due within one year | $ | i 10,502,575 | |||
Due
between one and five years | i 98,587,270 | ||||
Due over five years | i 49,583,904 | ||||
$ | i 158,673,749 |
September 30, 2023 | December 31, 2022 | ||||||||||
Raw materials | $ | i 281,802,062 | $ | i 304,184,004 | |||||||
Work-in-process | i 44,896,661 | i 45,512,275 | |||||||||
Finished
goods | i 68,754,057 | i 54,663,991 | |||||||||
Total
Inventory | $ | i 395,452,780 | $ | i 404,360,270 |
Three Months Ended September 30, | Nine Months Ended September 30, | |||||||||||||||||||||||||
2023 | 2022 | 2023 | 2022 | |||||||||||||||||||||||
Basic Earnings Per Share | ||||||||||||||||||||||||||
Net Income | $ | i 104,725,412 | $ | i 72,655,995 | $ | i 311,459,076 | $ | i 232,589,023 | ||||||||||||||||||
Less: Dividends and undistributed earnings allocated to participating securities | i 1,537,105 | i 1,096,274 | i 4,636,523 | i 3,563,605 | ||||||||||||||||||||||
Net Income available to common shareholders | $ | i 103,188,307 | $ | i 71,559,721 | $ | i 306,822,553 | $ | i 229,025,418 | ||||||||||||||||||
Basic weighted average shares outstanding | i 230,047,014 | i 231,316,879 | i 229,866,008 | i 231,072,421 | ||||||||||||||||||||||
Net Income per share - Basic | $ | i 0.45 | $ | i 0.31 | $ | i 1.33 | $ | i 0.99 | ||||||||||||||||||
Diluted Earnings Per Share | ||||||||||||||||||||||||||
Allocation of Net Income used in basic computation | $ | i 103,188,307 | $ | i 71,559,721 | $ | i 306,822,553 | $ | i 229,025,418 | ||||||||||||||||||
Reallocation of undistributed earnings | i 1,978 | i 848 | i 4,577 | i 4,412 | ||||||||||||||||||||||
Net Income available to common shareholders - Diluted | $ | i 103,190,285 | $ | i 71,560,569 | $ | i 306,827,130 | $ | i 229,029,830 | ||||||||||||||||||
Number of shares used in basic computation | i 230,047,014 | i 231,316,879 | i 229,866,008 | i 231,072,421 | ||||||||||||||||||||||
Additional weighted average dilutive common stock equivalents | i 410,397 | i 300,138 | i 315,666 | i 457,032 | ||||||||||||||||||||||
Diluted weighted average shares outstanding | i 230,457,411 | i 231,617,017 | i 230,181,674 | i 231,529,453 | ||||||||||||||||||||||
Net Income per share - Diluted | $ | i 0.45 | $ | i 0.31 | $ | i 1.33 | $ | i 0.99 | ||||||||||||||||||
Shares related to stock plans not included in diluted average common shares outstanding because their effect would be anti-dilutive | i 1,384,066 | i 2,456,463 | i 1,410,341 | i 1,526,986 |
Shares Granted | Conversion Rate | Total Shares Under 2019 Omnibus Plan | ||||||||||||||||||
Non-Qualified Stock Options | i 4,811,132 | i 1.00 | i 4,811,132 | |||||||||||||||||
Restricted Stock | i 4,056,891 | i 4.06 | i 16,470,977 | |||||||||||||||||
Performance Shares | i 865,872 | i 4.06 | i 3,515,440 | |||||||||||||||||
Total | i 9,733,895 | i 24,797,549 |
Three Months Ended September 30, | Nine Months Ended September 30, | ||||||||||||||||||||||
2023 | 2022 | 2023 | 2022 | ||||||||||||||||||||
Dividend
Yield (1) | i 1.72 | % | i 1.78 | % | i 1.74 | % | i 1.79 | % | |||||||||||||||
Expected
volatility (2) | i 28.66 | % | i 29.02 | % | i 28.89 | % | i 28.62 | % | |||||||||||||||
Risk-free
interest rate (3) | i 4.60 | % | i 4.06 | % | i 4.11 | % | i 3.16 | % | |||||||||||||||
Expected
term of options (years) (4) | i 4.14 | i 4.15 | i 4.15 | i 4.15 | |||||||||||||||||||
Weighted-avg. grant date fair value | $ i 8.40 | $ i 5.97 | $ i 7.54 | $ i 6.28 |
Three Months Ended September 30, | Nine Months Ended September 30, | |||||||||||||||||||
2023 | 2022 | 2023 | 2022 | |||||||||||||||||
Foreign currency translation adjustments: | ||||||||||||||||||||
Balance at beginning of period | $ | ( i 5,609,783) | $ | ( i 3,107,157) | $ | ( i 4,032,239) | $ | i 920,589 | ||||||||||||
Other
Comprehensive (loss) income before reclassifications | ( i 717,457) | i 17,751,603 | ( i 2,295,001) | i 13,723,857 | ||||||||||||||||
Net current-period change | ( i 717,457) | i 17,751,603 | ( i 2,295,001) | i 13,723,857 | ||||||||||||||||
Balance
at end of period | ( i 6,327,240) | i 14,644,446 | ( i 6,327,240) | i 14,644,446 | ||||||||||||||||
Unrealized (losses) gains on available-for-sale debt securities: | ||||||||||||||||||||
Balance at beginning of period | ( i 7,632,985) | ( i 7,848,722) | ( i 10,110,695) | i 1,006,655 | ||||||||||||||||
Other
Comprehensive (loss) income before reclassifications | ( i 1,293,419) | ( i 3,714,578) | ( i 468,359) | ( i 13,042,231) | ||||||||||||||||
Amounts
reclassified from accumulated other comprehensive income | i 1,580,904 | i 204,811 | i 3,233,554 | i 677,087 | ||||||||||||||||
Net
current-period change | i 287,485 | ( i 3,509,767) | i 2,765,195 | ( i 12,365,144) | ||||||||||||||||
Balance
at end of period | ( i 7,345,500) | ( i 11,358,489) | ( i 7,345,500) | ( i 11,358,489) | ||||||||||||||||
Accumulated
other comprehensive (loss) income, end of period | $ | ( i 13,672,740) | $ | i 3,285,957 | $ | ( i 13,672,740) | $ | i 3,285,957 |
Details about Accumulated Other Comprehensive Loss Components | Amounts Reclassified from Other Comprehensive Loss | Affected Line item in the Consolidated Statements of Income | ||||||||||||||||||||||||
Three Months Ended September 30, | Nine Months Ended September 30, | |||||||||||||||||||||||||
2023 | 2022 | 2023 | 2022 | |||||||||||||||||||||||
Unrealized gains (losses) on available-for-sale debt securities | ||||||||||||||||||||||||||
Realized gain (loss) on sale of securities | $ | ( i 2,001,144) | $ | ( i 259,254) | $ | ( i 4,093,106) | $ | ( i 857,072) | Investment income | |||||||||||||||||
Provision for income taxes | i 420,240 | i 54,443 | i 859,552 | i 179,985 | Provision for income taxes | |||||||||||||||||||||
Total net reclassifications for the period | $ | ( i 1,580,904) | $ | ( i 204,811) | $ | ( i 3,233,554) | $ | ( i 677,087) | ||||||||||||||||||
Three Months Ended September 30, | Nine Months Ended September 30, | ||||||||||||||||||||||
2023 | 2022 | 2023 | 2022 | ||||||||||||||||||||
Revenue: | |||||||||||||||||||||||
Automotive Products | $ | i 564,510,277 | $ | i 480,937,253 | $ | i 1,676,043,013 | $ | i 1,391,840,835 | |||||||||||||||
Other | i 11,338,213 | i 12,699,442 | i 34,039,634 | i 33,469,637 | |||||||||||||||||||
Total | $ | i 575,848,490 | $ | i 493,636,695 | $ | i 1,710,082,647 | $ | i 1,425,310,472 | |||||||||||||||
Income (Loss) from operations: | |||||||||||||||||||||||
Automotive Products | $ | i 121,875,176 | $ | i 87,109,317 | $ | i 362,044,032 | $ | i 277,492,945 | |||||||||||||||
Other | i 541,353 | ( i 317,777) | i 912,532 | ( i 1,604,532) | |||||||||||||||||||
Total | $ | i 122,416,529 | $ | i 86,791,540 | $ | i 362,956,564 | $ | i 275,888,413 |
Three Months Ended September 30, | Nine Months Ended September 30, | ||||||||||||||||||||||||||||
Revenue | 2023 | 2022 | 2023 | 2022 | |||||||||||||||||||||||||
Automotive Products | |||||||||||||||||||||||||||||
U.S. | $ | i 171,312,177 | $ | i 147,865,393 | $ | i 520,034,256 | $ | i 435,877,621 | |||||||||||||||||||||
Germany | i 72,169,634 | i 65,508,444 | i 226,739,945 | i 204,653,773 | |||||||||||||||||||||||||
Japan | i 73,330,091 | i 63,797,497 | i 229,664,642 | i 165,215,741 | |||||||||||||||||||||||||
Mexico | i 38,494,969 | i 32,024,141 | i 109,585,767 | i 93,951,398 | |||||||||||||||||||||||||
Other | i 209,203,406 | i 171,741,778 | i 590,018,403 | i 492,142,302 | |||||||||||||||||||||||||
Total Automotive Products | $ | i 564,510,277 | $ | i 480,937,253 | $ | i 1,676,043,013 | $ | i 1,391,840,835 | |||||||||||||||||||||
Other Products (U.S.) | i 11,338,213 | i i 12,699,442 / | i 34,039,634 | i i 33,469,637 / | |||||||||||||||||||||||||
Total Revenue | $ | i 575,848,490 | $ | i 493,636,695 | $ | i 1,710,082,647 | $ | i 1,425,310,472 |
Three Months Ended September 30, | Nine Months Ended September 30, | ||||||||||||||||||||||
Revenue | 2023 | 2022 | 2023 | 2022 | |||||||||||||||||||
Automotive Segment | |||||||||||||||||||||||
Automotive Mirrors & Electronics | $ | i 531,423,832 | $ | i 448,773,060 | $ | i 1,577,792,206 | $ | i 1,291,891,664 | |||||||||||||||
HomeLink
Modules* | i 33,086,445 | i 32,164,193 | i 98,250,807 | i 99,949,171 | |||||||||||||||||||
Total Automotive Products | $ | i 564,510,277 | $ | i 480,937,253 | $ | i 1,676,043,013 | $ | i 1,391,840,835 | |||||||||||||||
Other Segment | |||||||||||||||||||||||
Fire Protection Products | i 5,151,785 | i 10,484,680 | i 20,471,868 | i 28,577,916 | |||||||||||||||||||
Aerospace Products | i 6,186,428 | i 2,214,762 | i 13,567,766 | i 4,891,721 | |||||||||||||||||||
Total Other | $ | i 11,338,213 | $ | i i 12,699,442 / | $ | i 34,039,634 | $ | i i 33,469,637 / | |||||||||||||||
*Excludes HomeLink revenue where HomeLink electronics are integrated into interior auto-dimming mirrors. |
Year ending December 31, | ||||||||
2023 (excluding the nine months ended September 30, 2023) | $ | i 499,620 | ||||||
2024 | i 1,526,098 | |||||||
2025 | i 1,058,401 | |||||||
2026 | i 455,548 | |||||||
2027 | i 215,734 | |||||||
Thereafter | i — | |||||||
Total future minimum lease payments | i 3,755,401 | |||||||
Less imputed interest | ( i 189,042) | |||||||
Total | $ | i 3,566,359 |
Accrued Liabilities | $ | i 1,633,120 | ||||||
Other Non-Current Liabilities | i 1,933,239 | |||||||
Total | $ | i 3,566,359 |
Three Months Ended September 30, | Nine Months Ended September 30, | ||||||||||||||||||||||||||||||||||
2023 | 2022 | % Change | 2023 | 2022 | % Change | ||||||||||||||||||||||||||||||
North American Interior Mirrors | 2,366 | 2,156 | 10% | 7,192 | 6,444 | 12% | |||||||||||||||||||||||||||||
North American Exterior Mirrors | 1,614 | 1,602 | 1% | 5,033 | 4,532 | 11% | |||||||||||||||||||||||||||||
Total North American Mirror Units | 3,980 | 3,758 | 6% | 12,224 | 10,976 | 11% | |||||||||||||||||||||||||||||
International Interior Mirrors | 5,709 | 5,287 | 8% | 17,100 | 15,282 | 12% | |||||||||||||||||||||||||||||
International Exterior Mirrors | 2,915 | 2,444 | 19% | 8,918 | 6,926 | 29% | |||||||||||||||||||||||||||||
Total
International Mirror Units | 8,624 | 7,731 | 12% | 26,018 | 22,208 | 17% | |||||||||||||||||||||||||||||
Total Interior Mirrors | 8,076 | 7,443 | 9% | 24,292 | 21,727 | 12% | |||||||||||||||||||||||||||||
Total Exterior Mirrors | 4,529 | 4,046 | 12% | 13,950 | 11,457 | 22% | |||||||||||||||||||||||||||||
Total Auto-Dimming Mirror Units | 12,604 | 11,489 | 10% | 38,242 | 33,184 | 15% |
September 30, 2023 | December 31, 2022 | ||||||||||
Working Capital | $ | 781,046,324 | $ | 698,099,624 | |||||||
Long-Term Investments | 272,615,535 | 202,331,983 | |||||||||
Total | $ | 1,053,661,859 | $ | 900,431,607 |
Light Vehicle Production (per S&P Global Mobility mid-October light vehicle production forecast) | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
(in Millions) | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Region | Q4 2023 | Q4 2022 | % Change | Calendar Year 2024 | Calendar Year 2023 | Calendar Year 2022 | 2024 vs 2023 % Change | 2023 vs 2022 % Change | |||||||||||||||||||||||||||||||||||||||||||||||||||
North America | 3.24 | 3.55 | (9) | % | 16.29 | 15.20 | 14.30 | 7 | % | 6 | % | ||||||||||||||||||||||||||||||||||||||||||||||||
Europe | 4.58 | 4.32 | 6 | % | 17.44 | 17.71 | 15.83 | (2) | % | 12 | % | ||||||||||||||||||||||||||||||||||||||||||||||||
Japan and Korea | 3.32 | 3.12 | 6 | % | 12.14 | 12.69 | 11.14 | (4) | % | 14 | % | ||||||||||||||||||||||||||||||||||||||||||||||||
China | 7.85 | 7.27 | 8 | % | 28.05 | 27.89 | 26.40 | 1 | % | 6 | % | ||||||||||||||||||||||||||||||||||||||||||||||||
Total Light Vehicle Production | 18.99 | 18.26 | 4 | % | 73.92 | 73.49 | 67.67 | 1 | % | 9 | % |
Issuer
Purchase of Equity Securities | ||||||||||||||
Period | Total Number of Shares Purchased | Weighted Average Price Paid Per Share | Total Number of Shares Purchased As Part of a Publicly Announced Plan or Program | Maximum Number of Shares That May Yet Be Purchased Under the Plan or Program | ||||||||||
January 2023 | — | — | — | 20,783,165 | ||||||||||
February 2023 | 46,835 | 28.58 | 46,835 | 20,736,330 | ||||||||||
March 2023 | 1,000,091 | 27.12 | 1,000,091 | 19,736,239 | ||||||||||
1st Quarter 2023 Total | 1,046,926 | 27.19 | 1,046,926 | |||||||||||
April 2023 | — | — | — | 19,736,239 | ||||||||||
May 2023 | 400,062 | 26.78 | 400,062 | 19,336,177 | ||||||||||
June 2023 | 520,312 | 27.64 | 520,312 | 18,815,865 | ||||||||||
2nd Quarter 2023 Total | 920,374 | 27.28 | 920,374 | |||||||||||
July 2023 | — | — | — | 18,815,865 | ||||||||||
August 2023 | 210,525 | 32.51 | 210,525 | 18,605,340 | ||||||||||
September 2023 | 565,963 | 32.38 | 565,963 | 18,039,377 | ||||||||||
3rd Quarter 2023 Total | 776,488 | 32.41 | 776,488 | |||||||||||
2023 Total | 2,743,788 | 28.70 | 2,743,788 | 18,039,377 |
See Exhibit Index on Page 38 |
GENTEX CORPORATION | |||||||||||
Date: | November 3, 2023 | ||||||||||
President and Chief Executive Officer | |||||||||||
(Principal Executive Officer) on behalf of Gentex Corporation | |||||||||||
Date: | November 3, 2023 | /s/ Kevin C. Nash | |||||||||
Vice President, Finance, Chief Financial Officer and Treasurer | |||||||||||
(Principal Financial Officer and Principal Accounting Officer) on behalf of Gentex Corporation |
Exhibit No. | Description | |||||||
10 | ||||||||
31.1 | ||||||||
31.2 | ||||||||
32 | ||||||||
101.INS | Inline XBRL Instance Document - the instance document does not appear in the Interactive Data File because its XBRL tags are embedded within the Inline XBRL document | |||||||
101.SCH | Inline XBRL Taxonomy Extension Schema | |||||||
101.CAL | Inline XBRL Taxonomy Extension Calculation Linkbase | |||||||
101.DEF | Inline XBRL Taxonomy Extension Definition Linkbase | |||||||
101.LAB | Inline XBRL Taxonomy Extension Label Linkbase | |||||||
101.PRE | Inline XBRL Taxonomy Extension Presentation Linkbase |
This ‘10-Q’ Filing | Date | Other Filings | ||
---|---|---|---|---|
12/31/27 | ||||
12/31/26 | ||||
2/21/26 | ||||
12/31/25 | ||||
12/31/24 | ||||
12/31/23 | ||||
Filed on: | 11/3/23 | |||
11/2/23 | ||||
10/27/23 | 8-K | |||
10/18/23 | ||||
10/16/23 | ||||
10/15/23 | ||||
For Period end: | 9/30/23 | |||
9/1/23 | ||||
7/5/23 | ||||
7/1/23 | ||||
3/9/23 | ||||
2/21/23 | 4 | |||
2/16/23 | 4 | |||
1/1/23 | ||||
12/31/22 | 10-K, ARS, SD | |||
9/30/22 | 10-Q | |||
7/1/22 | ||||
2/22/22 | 4 | |||
1/1/22 | ||||
1/14/21 | ||||
1/1/20 | ||||
10/16/19 | ||||
10/10/19 | ||||
10/15/18 | 8-K | |||
10/12/18 | ||||
6/18/16 | ||||
12/8/15 | ||||
3/31/14 | 10-Q, DEF 14A | |||
List all Filings |
As Of Filer Filing For·On·As Docs:Size Issuer Filing Agent 2/22/24 Gentex Corp. 10-K 12/31/23 87:10M |