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Patents and other assets, net

309,033,022

307,365,845

Long-term investments

171,134,695

139,909,323

Intangible assets, net

251,725,000

250,375,000

24,507,260

22,460,033

Total other assets

756,399,977

720,110,201

Total assets

2,101,041,533

2,168,803,193

CURRENT LIABILITIES

Accounts payable

60,183,429

97,553,917

Current portion of long-term debt

75,000,000

Accrued liabilities

82,447,668

74,292,883

Total current liabilities

217,631,097

171,846,800

OTHER NON-CURRENT LIABILITIES

10,306,855

7,414,424

DEFERRED INCOME TAXES

50,496,168

51,454,149

Total liabilities

278,434,120

230,715,373

SHAREHOLDERS’ INVESTMENT

Common stock

14,746,529

15,076,651

Additional paid-in capital

818,678,880

807,928,139

Retained earnings

986,442,760

1,116,372,133

Accumulated other comprehensive income (loss)

2,739,244

(1,289,103)

Total shareholders’ investment

1,822,607,413

1,938,087,820

Total liabilities and shareholders’ investment

$ 2,101,041,533

$ 2,168,803,193

[1]	The condensed consolidated balance sheet at December 31, 2019 has been derived from the audited financial statements at that date but does not include all of the information and footnotes required by accounting principles generally accepted in the United States for complete financial statements.

Unaudited Condensed Consolidated Statements of Income - USD ($)

3 Months Ended

6 Months Ended

Jun. 30, 2020

Jun. 30, 2019

Jun. 30, 2020

Jun. 30, 2019

Income Statement [Abstract]

NET SALES

$ 229,925,556

$ 468,711,354

$ 683,687,281

$ 937,300,351

COST OF GOODS SOLD

185,980,748

292,173,750

483,154,994

591,118,243

Gross profit

43,944,808

176,537,604

200,532,287

346,182,108

OPERATING EXPENSES:

Engineering, research and development

28,992,968

28,359,343

58,608,390

56,448,524

Selling, general & administrative

21,690,096

20,273,295

43,634,987

40,232,286

Total operating expenses

50,683,064

48,632,638

102,243,377

96,680,810

(Loss) Income from operations

(6,738,256)

127,904,966

98,288,910

249,501,298

OTHER INCOME

Investment income

1,462,033

2,140,387

3,908,682

5,403,128

Other income, net

1,404,196

237,191

1,205,030

286,660

Total other income

2,866,229

2,377,578

5,113,712

5,689,788

(LOSS) INCOME BEFORE (BENEFIT FROM) PROVISION FOR INCOME TAXES

(3,872,027)

130,282,544

103,402,622

255,191,086

(BENEFIT FROM) PROVISION FOR INCOME TAXES

(1,497,994)

21,323,919

16,270,854

41,952,050

NET (LOSS) INCOME

$ (2,374,033)

$ 108,958,625

$ 87,131,768

$ 213,239,036

EARNINGS (LOSS) PER SHARE:

Basic (in dollars per share)

^[1]

$ (0.01)

$ 0.42

$ 0.35

$ 0.82

Diluted (in dollars per share)

^[1]

(0.01)

0.42

0.35

0.82

Cash Dividends Declared per Share (in dollars per share)

$ 0.120

$ 0.115

$ 0.240

$ 0.230

[1]	⁽¹⁾ Earnings (Loss) Per Share has been adjusted to exclude the portion of net income allocated to participating securities as a result of share-based payment awards.

Unaudited Condensed Consolidated Statements of Comprehensive Income - USD ($)	3 Months Ended		6 Months Ended
	Jun. 30, 2020	Jun. 30, 2019	Jun. 30, 2020	Jun. 30, 2019
Statement of Comprehensive Income [Abstract]
Net (Loss) Income	$ (2,374,033)	$ 108,958,625	$ 87,131,768	$ 213,239,036
Other comprehensive income before tax:
Foreign currency translation adjustments	136,627	(475,686)	(555,463)	(176,687)
Unrealized gains on debt securities, net	3,022,561	1,583,089	5,802,291	2,881,325
Other comprehensive income, before tax	3,159,188	1,107,403	5,246,828	2,704,638
Income tax impact related to components of other comprehensive income	634,738	332,448	1,218,481	605,079
Other comprehensive income, net of tax	2,524,450	774,955	4,028,347	2,099,559
Comprehensive Income	$ 150,417	$ 109,733,580	$ 91,160,115	$ 215,338,595

The portion of profit or loss for the period, net of income taxes, which is attributable to the parent.

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Amount of tax expense (benefit) allocated to other comprehensive income (loss).

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Increase (Decrease) in Stockholders' Equity [Roll Forward]

Unaudited Condensed Consolidated Statements of Shareholders' Investment - USD ($)

3 Months Ended

6 Months Ended

Jun. 30, 2020

Jun. 30, 2019

Jun. 30, 2020

Jun. 30, 2019

Issuance of common stock from stock plan transactions

$ 1,834,605,633

$ 1,857,074,748

$ 1,938,087,820

^[1]

$ 1,861,751,660

8,355,204

31,420,260

$ 15,710,692

41,934,814

Issuance of common stock related to acquisitions (in shares)

100,000

Issuance of common stock related to acquisitions

3,559,229

$ 3,559,229

Repurchases of common stock (in shares)

(7,000,000.0)

Stock-based compensation expense related to stock options, employee stock purchases and restricted stock

(69,871,143)

$ (178,819,584)

(166,138,371)

5,430,583

5,276,201

11,786,653

10,139,148

Dividends declared

(29,493,653)

(29,299,410)

(58,877,512)

(58,691,610)

Net (Loss) Income

(2,374,033)

108,958,625

87,131,768

213,239,036

Other comprehensive income

2,524,450

774,955

4,028,347

2,099,558

Increase (Decrease) in Stockholders' Equity [Roll Forward]

$ 1,822,607,413

$ 1,904,334,236

$ 1,822,607,413

$ 1,904,334,236

Common Stock

Beginning balance (in shares)

244,865,658

255,584,345

251,277,515

259,328,613

Issuance of common stock from stock plan transactions (in shares)

$ 14,691,939

$ 15,335,061

$ 15,076,651

$ 15,559,717

746,112

2,269,483

1,353,287

3,250,153

Issuance of common stock from stock plan transactions

$ 44,767

$ 136,170

$ 81,198

$ 195,010

Issuance of common stock related to acquisitions (in shares)

163,718

Issuance of common stock related to acquisitions

$ 9,823

Repurchases of common stock (in shares)

(3,074,709)

(7,019,032)

(7,799,647)

Ending balance (in shares)

$ (184,483)

$ (421,143)

$ (467,979)

245,775,488

254,779,119

245,775,488

254,779,119

Additional Paid-In Capital

$ 14,746,529

$ 15,286,748

$ 14,746,529

$ 15,286,748

Increase (Decrease) in Stockholders' Equity [Roll Forward]

Issuance of common stock from stock plan transactions

801,388,454

748,641,461

807,928,139

745,324,144

8,310,437

31,284,090

15,629,494

41,739,804

Issuance of common stock related to acquisitions

3,549,406

Stock-based compensation expense related to stock options, employee stock purchases and restricted stock

(7,963,499)

(20,214,812)

(19,964,843)

5,430,583

5,276,201

11,786,653

10,139,148

Increase (Decrease) in Stockholders' Equity [Roll Forward]

818,678,880

777,238,253

818,678,880

777,238,253

Retained Earnings

1,018,310,446

1,093,373,960

1,116,372,133

1,102,468,137

(61,723,161)

(158,183,629)

(145,705,549)

Dividends declared

(29,493,653)

(29,299,410)

(58,877,512)

(58,691,610)

Net (Loss) Income

(2,374,033)

108,958,625

87,131,768

213,239,036

Accumulated Other Comprehensive Income (Loss)

986,442,760

1,111,310,014

986,442,760

1,111,310,014

Increase (Decrease) in Stockholders' Equity [Roll Forward]

Other comprehensive income

214,794

(275,734)

(1,289,103)

(1,600,338)

2,524,450

774,955

4,028,347

2,099,560

$ 2,739,244

$ 499,221

$ 2,739,244

$ 499,221

[1]	The condensed consolidated balance sheet at December 31, 2019 has been derived from the audited financial statements at that date but does not include all of the information and footnotes required by accounting principles generally accepted in the United States for complete financial statements.

Unaudited Condensed Consolidated Statements of Shareholders' Investment (Parenthetical) - $ / shares	3 Months Ended		6 Months Ended
	Jun. 30, 2020	Jun. 30, 2019	Jun. 30, 2020	Jun. 30, 2019
Statement of Stockholders' Equity [Abstract]
Dividends declared (in dollars per share)	$ 0.120	$ 0.115	$ 0.240	$ 0.230

Unaudited Condensed Consolidated Statements of Cash Flows - USD ($)	6 Months Ended
	Jun. 30, 2020	Jun. 30, 2019
CASH FLOWS FROM OPERATING ACTIVITIES:
Net income	$ 87,131,768	$ 213,239,036
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation and amortization	53,437,698	53,296,388
(Gain) on disposal of assets	(155,229)	(95,658)
Loss on disposal of assets	88,357	340,070
(Gain) on sale of investments	(1,023,683)	(218,981)
Loss on sale of investments	72,871	0
Change in deferred income taxes	(2,176,462)	196,133
Stock-based compensation expense related to employee stock options, employee stock purchases and restricted stock	15,960,362	10,139,148
Change in operating assets and liabilities:
Accounts receivable, net	64,981,864	(12,888,533)
Inventories	(10,710,548)	187,136
Prepaid expenses and other	14,230,026	(2,311,576)
Accounts payable	(37,452,944)	(2,769,229)
Accrued liabilities, excluding dividends declared and short-term debt	6,068,104	14,353,360
Net cash provided by operating activities	190,452,184	273,467,294
Activity in available-for-sale securities:
Sales proceeds	5,607,634	28,845,319
Maturities and calls	90,017,368	9,714,000
Purchases	(52,650,769)	(40,298,297)
Plant and equipment additions	(28,828,066)	(45,504,667)
Proceeds from sale of plant and equipment	200,475	227,738
Acquisition of businesses, net of cash acquired	(7,031,827)	0
Decrease in other assets	(3,886,518)	(1,022,057)
Net cash (used for) investing activities	3,428,297	(48,037,964)
CASH FLOWS (USED FOR) FINANCING ACTIVITIES:
Proceeds from borrowings on Credit Agreement	75,000,000	0
Issuance of common stock from stock plan transactions	15,710,692	41,934,814
Cash dividends paid	(58,281,727)	(57,918,158)
Repurchases of common stock	(178,819,584)	(166,138,372)
Net cash (used for) financing activities	(146,390,619)	(182,121,716)
NET INCREASE IN CASH AND CASH EQUIVALENTS	47,489,862	43,307,614
CASH AND CASH EQUIVALENTS, beginning of period	296,321,622	217,025,278
CASH AND CASH EQUIVALENTS, end of period	$ 343,811,484	$ 260,332,892

Basis of Presentation	6 Months Ended
Basis of Presentation	Jun. 30, 2020
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Basis of Presentation	Basis of PresentationThe unaudited condensed consolidated financial statements included herein have been prepared by the Company, pursuant to the rules and regulations of the Securities and Exchange Commission. Certain information and footnote disclosures normally included in financial statements prepared in accordance with accounting principles generally accepted in the United States have been condensed or omitted pursuant to such rules and regulations, although the Company believes that the disclosures are adequate to make the information presented not misleading. It is suggested that these unaudited condensed consolidated financial statements be read in conjunction with the financial statements and notes thereto included in the Company's 2019 annual report on Form 10-K. In the opinion of management, the accompanying unaudited condensed consolidated financial statements contain all adjustments, consisting of only a normal and recurring nature, necessary to present fairly the financial position of the Company as of June 30, 2020, and the results of operations and cash flows for the interim periods presented.

Adoption of New Accounting Pronouncements	6 Months Ended
Adoption of New Accounting Pronouncements	Jun. 30, 2020
Accounting Standards Update and Change in Accounting Principle [Abstract]
Adoption of New Accounting Pronouncements	Adoption of New Accounting PronouncementsEffective January 1, 2020, the Company adopted Accounting Standards Update ("ASU") 2016-13, Financial Instruments - Credit Losses (Topic 326), Measurement of Credit Losses on Financial Instruments. This guidance must be adopted using a modified retrospective transition method through a cumulative-effect adjustment to retained earnings in the period of adoption. Based on the insignificant impact of this ASU on the Company's financial statements, a cumulative-effect adjustment to retained earnings was not deemed necessary. The standard requires a change in the measurement approach for credit losses on financial assets measured on an amortized cost basis from an incurred loss method to an expected loss method, thereby eliminating the requirement that a credit loss be considered probable to impact the valuation of a financial asset measured on an amortized cost basis. The standard requires the measurement of expected credit losses to be based on relevant information about past events, including historical experience, current conditions, and a reasonable and supportable forecast that affects the collectability of the related financial asset. It also modifies the impairment model for available-for-sale debt securities and provides a simplified accounting model for purchased financial assets with credit deterioration since their origination. The adoption of this standard did not have a material impact on the Company's consolidated balance sheet, consolidated income statement, or consolidated statement of cash flows.

The entire disclosure for change in accounting principle. Includes, but is not limited to, nature, reason, and method of adopting amendment to accounting standards or other change in accounting principle.

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Goodwill and Intangible Assets Disclosure [Abstract]

Goodwill and Other Intangible Assets

6 Months Ended

Jun. 30, 2020

Goodwill and Other Intangible Assets

Goodwill represents the cost of an acquisition in excess of the fair values assigned to identifiable net assets acquired. The Company recorded Goodwill of $307.4 million as part of the HomeLink^®acquisition in 2013 and recorded an additional $1.7 million in Goodwill during the second quarter of 2020 as part of the acquisition of Vaporsens. See Note 16 for more information on the Vaporsens transaction. The carrying value of Goodwill as of June 30, 2020 and December 31, 2019 was $309.0 million and $307.4 million, respectively.


	Carrying Amount
Balance as of December 31, 2019	$	307,365,845
Acquisitions	1,667,177
Divestitures	—
Impairments	—
Other	—
Balance as of June 30, 2020	$	309,033,022

In addition to annual impairment testing, which is performed as of the first day of the fourth quarter, the Company continuously monitors for events and circumstances that could negatively impact the key assumptions in determining fair value of goodwill or other intangible assets thus resulting in the need for interim impairment testing, including long-term revenue growth projections, profitability, discount rates, recent market valuations from transactions by comparable companies, volatility in the Company's market capitalization, and general industry, market and macroeconomic conditions. The impact of COVID-19 was considered in the most recently completed quarter, but did not indicate the need for interim impairment testing.

The patents and intangible assets and related change in carrying values are set forth in the tables below:

As of June 30, 2020:


Other Intangible Assets	Gross		Accumulated Amortization		Net		Assumed Useful Life
Gentex Patents	$	37,859,912	$	(23,591,325)	$	14,268,587	Various
Vaporsens Technology License	279,113		(31,357)		247,756		Various

Other Intangible Assets
HomeLink^®Trade Names and Trademarks	$	52,000,000	$	—	$	52,000,000	Indefinite
HomeLink^® Technology	180,000,000		(101,250,000)		78,750,000		12 years
Existing Customer Platforms	43,000,000		(29,025,000)		13,975,000		10 years
Exclusive Licensing Agreement	96,000,000		—		96,000,000		Indefinite
Vaporsens In-Process R&D	11,000,000		—		11,000,000		Indefinite
Total Other Intangible Assets	$	382,000,000	$	(130,275,000)	$	251,725,000

Total Patents & Other Intangible Assets	$	420,139,025	$	(153,897,682)	$	266,241,343

As of December 31, 2019:


Other Intangible Assets	Gross		Accumulated Amortization		Net		Assumed Useful Life
Gentex Patents	$	37,328,963	$	(22,491,010)	$	14,837,953	Various

Other Intangible Assets
HomeLink^® Trade Names and Trademarks	$	52,000,000	$	—	$	52,000,000	Indefinite
HomeLink^® Technology	180,000,000		(93,750,000)		86,250,000		12 years
Existing Customer Platforms	43,000,000		(26,875,000)		16,125,000		10 years
Exclusive Licensing Agreement	96,000,000		—		96,000,000		Indefinite
Total Other Intangible Assets	$	371,000,000	$	(120,625,000)	$	250,375,000

Total Patents & Other Intangible Assets	$	408,328,963	$	(143,116,010)	$	265,212,953

Amortization expense on patents and intangible assets was approximately $5.6 million and $11.2 million during the three and six months ended June 30, 2020, compared to approximately $5.6 million and $11.2 million for the same periods ended June 30, 2019.

Excluding the impact of any future acquisitions, the Company estimates amortization expense for each of the years ended December 31, 2020 and 2021 to be approximately $22 million annually, for the year ended

December 31, 2022 to be approximately $21 million, for the year ended December 31, 2023 to be approximately $19 million, and for the year ended December 31, 2024 to be approximately $16 million.

Investments

6 Months Ended

Jun. 30, 2020

Investments [Abstract]

Investments

The Company follows the provisions of Accounting Standards Codification ("ASC") 820, Fair Value Measurements and Disclosures, for its financial assets and liabilities, and for its non-financial assets and liabilities subject to fair value measurements. ASC 820 provides a framework for measuring the fair value of assets and liabilities. This framework is intended to provide increased consistency in how fair value determinations are made under various existing accounting standards that permit, or in some cases, require estimates of fair-market value. This standard also expanded financial statement disclosure requirements with respect to a company’s use of fair-value measurements, including the effect of such measurements on earnings. The cost of securities sold is based on the specific identification method.

The Company determines the fair value of its government securities, asset-backed securities, municipal bonds, and corporate bonds by utilizing monthly valuation statements that are provided by its broker. The broker determines the investment valuation by utilizing the bid price in the market and also refers to third party sources to validate valuations, and as such are classified as Level 2 assets.

The Company's certificates of deposit are classified as available for sale and are considered as Level 1 assets. These investments are carried at cost, which approximates fair value.

The Company also periodically makes technology investments in certain non-consolidated third-parties. These equity investments are accounted for in accordance with ASC 321, Investments - Equity Securities. Equity investments that do not have readily determinable fair values, and where the Company has not identified any observable events that would cause adjustment of the valuation to date, such equity investments are held at cost. These technology investments totaled approximately $8.7 million and $9.0 million as of June 30, 2020 and December 31, 2019, respectively. These investments are classified within Long-Term Investments in the consolidated balance sheet.

Assets or liabilities that have recurring fair value measurements are shown below as of June 30, 2020 and December 31, 2019:

As of June 30, 2020:


			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	June 30, 2020		(Level 1)		(Level 2)		(Level 3)
Cash & Cash Equivalents	$	343,811,484	$	343,811,484	$	—	$	—
Short-Term Investments:
Certificate of Deposit	1,023,558		1,023,558		—		—
Corporate Bonds	18,465,053		—		18,465,053		—
Government Securities	43,412,712		—		43,412,712		—
Municipal Bonds	4,292,331		—		4,292,331		—
Other	2,821,510		2,821,510		—		—
Long-Term Investments:
Asset Backed Securities	42,140,999		—		42,140,999		—
Certificate of Deposit	4,173,150		4,173,150		—		—
Corporate Bonds	21,101,912		—		21,101,912		—
Government Securities	617,226		—		617,226		—
Municipal Bonds	94,430,839		—		94,430,839		—


Total	$	576,290,774	$	351,829,702	$	224,461,072	$	—

As of December 31, 2019:


			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, 2019		(Level 1)		(Level 2)		(Level 3)
Cash & Cash Equivalents	$	296,321,622	$	296,321,622	$	—	$	—
Short-Term Investments:
Certificate of Deposit	50,099,795		50,099,795		—		—
Corporate Bonds	29,219,685		—		29,219,685		—
Government Securities	58,432,823		—		58,432,823		—
Other	2,631,750		2,631,750		—		—

Long-Term Investments:
Asset-backed Securities	25,791,029		—		25,791,029		—
Certificate of Deposit	3,557,798		3,557,798				—
Corporate Bonds	22,815,998		—		22,815,998		—
Governmental Securities	6,088,190		—		6,088,190		—
Municipal Bonds	72,638,690		—		72,638,690		—
Total	$	567,597,380	$	352,610,965	$	214,986,415	$	—

The amortized cost, unrealized gains and losses, and market value of investment securities are shown as of June 30, 2020 and December 31, 2019:

As of June 30, 2020:


			Unrealized
	Cost		Gains		Losses		Market Value
Short-Term Investments:
Certificate of Deposit	$	1,000,000	$	23,558	$	—	$	1,023,558
Corporate Bonds	18,328,367		138,975		(2,289)		18,465,053
Government Securities	43,146,665		266,047		—		43,412,712
Municipal Bonds	4,256,184		36,147		—		4,292,331
Other	2,821,510		—		—		2,821,510
Long-Term Investments:
Asset Backed Securities	41,140,592		1,032,218		(31,811)		42,140,999
Certificate of Deposit	4,006,912		166,238		—		4,173,150
Corporate Bonds	20,230,114		871,798		—		21,101,912
Government Securities	614,995		2,231		—		617,226
Municipal Bonds	89,744,967		4,707,257		(21,385)		94,430,839
Total	$	225,290,306	$	7,244,469	$	(55,485)	$	232,479,290

As of December 31, 2019:


			Unrealized
	Cost		Gains		Losses		Market Value
Short-Term Investments:
Certificate of Deposit	$	50,099,795	$	—	$	—	$	50,099,795
Corporate Bonds	29,025,624		194,061		—		29,219,685

Government Securities	58,343,911		99,917		(11,005)		58,432,823
Other	2,631,750		—		—		2,631,750
Long-Term Investments:
Asset-backed Securities	25,971,156		—		(180,127)		25,791,029
Certificate of Deposit	3,500,000		58,808		(1,010)		3,557,798
Corporate Bonds	22,306,130		509,868		—		22,815,998
Government Securities	6,012,705		75,485		—		6,088,190
Municipal Bonds	71,997,996		1,036,116		(395,422)		72,638,690

Total	$	269,889,067	$	1,974,255	$	(587,564)	$	271,275,758

Unrealized losses on investments as of June 30, 2020, are as follows:


	Aggregate Unrealized Losses		Aggregate Fair Value
Loss duration of less than one year	$	55,485	$	18,860,975
Loss duration of greater than one year	—		—
Total	$	55,485	$	18,860,975

Unrealized losses on investments as of December 31, 2019, are as follows:


	Aggregate Unrealized Losses		Aggregate Fair Value
Loss duration of less than one year	$	587,564	$	90,721,081
Loss duration of greater than one year	—		—
Total	$	587,564	$	90,721,081

Effective January 1, 2020, the Company adopted Accounting Standards Update ("ASU") 2016-13, Financial Instruments - Credit Losses (Topic 326), Measurement of Credit Losses on Financial Instruments. The guidance modifies the impairment model for available-for-sale debt securities and provides a simplified accounting model for purchased financial assets with credit deterioration since their origination. The Company utilized the guidance provided by ASC 326 to determine whether any of the available-for-sale debt securities held by the Company were impaired. No investments were considered to be impaired during the periods presented. The Company has the intention and current ability to hold its debt investments until the amortized cost basis has been recovered.

Fixed income securities as of June 30, 2020 have contractual maturities as follows:


Due within one year	$	67,193,654
Due between one and five years	46,324,201
Due over five years	116,139,925
	$	229,657,780

The entire disclosure for the fair value of financial instruments (as defined), including financial assets and financial liabilities (collectively, as defined), and the measurements of those instruments as well as disclosures related to the fair value of non-financial assets and liabilities. Such disclosures about the financial instruments, assets, and liabilities would include: (1) the fair value of the required items together with their carrying amounts (as appropriate); (2) for items for which it is not practicable to estimate fair value, disclosure would include: (a) information pertinent to estimating fair value (including, carrying amount, effective interest rate, and maturity, and (b) the reasons why it is not practicable to estimate fair value; (3) significant concentrations of credit risk including: (a) information about the activity, region, or economic characteristics identifying a concentration, (b) the maximum amount of loss the entity is exposed to based on the gross fair value of the related item, (c) policy for requiring collateral or other security and information as to accessing such collateral or security, and (d) the nature and brief description of such collateral or security; (4) quantitative information about market risks and how such risks are managed; (5) for items measured on both a recurring and nonrecurring basis information regarding the inputs used to develop the fair value measurement; and (6) for items presented in the financial statement for which fair value measurement is elected: (a) information necessary to understand the reasons for the election, (b) discussion of the effect of fair value changes on earnings, (c) a description of [similar groups] items for which the election is made and the relation thereof to the balance sheet, the aggregate carrying value of items included in the balance sheet that are not eligible for the election; (7) all other required (as defined) and desired information.

Share-based Payment Arrangement [Abstract]

Inventories

6 Months Ended

Jun. 30, 2020

Inventory Disclosure [Abstract]

Inventories

Inventories consisted of the following at the respective balance sheet dates:


	June 30, 2020		December 31, 2019
Raw materials	$	179,537,716	$	164,974,553
Work-in-process	34,708,883		33,069,255
Finished goods	45,481,590		50,898,047
Total Inventory	$	259,728,189	$	248,941,855

Earnings Per Share

6 Months Ended

Jun. 30, 2020

Earnings Per Share [Abstract]

Earnings Per Share

The Company has unvested share-based payment awards with a right to receive non-forfeitable dividends, which are considered participating securities under ASC 260, Earnings Per Share. The Company allocates earnings to participating securities and computes earnings per share using the two-class method. Under the two-class method, net income (loss) per share is computed by dividing net income allocated to common shareholders by the weighted average number of common shares outstanding for the period. In applying the two-class method, net income (loss) is allocated to both common shares and participating securities based on their respective weighted average shares outstanding for the period. For a period of net loss, net loss is not allocated to participating securities.

The following table sets forth the computation of basic and diluted net income (loss) per common share under the two-class method for the three and six months ended June 30, 2020 and June 30, 2019, respectively:


	Three Months Ended June 30,									Six Months Ended June 30,
	2020			2019				2020		2019
Basic Earnings Per Share
Net (Loss) Income	$	(2,374,033)		$	108,958,625			$	87,131,768	$	213,239,036
Less: Dividends and undistributed earnings allocated to participating securities	439,327			1,256,243				1,245,275		2,348,020
Net (Loss) Income available to common shareholders	$	(2,813,360)		$	107,702,382			$	85,886,493	$	210,891,016

Basic weighted average shares outstanding	241,684,323			255,219,868				243,983,276		256,350,600
Net (Loss) Income per share - Basic	$	(0.01)		$	0.42			$	0.35	$	0.82

Diluted Earnings Per Share
Allocation of Net (Loss) Income used in basic computation	$	(2,813,360)		$	107,702,382	$	—	$	85,886,493	$	210,891,016
Reallocation of undistributed earnings	—			4,848				1,697		8,842
Net (Loss) Income available to common shareholders - Diluted	$	(2,813,360)		$	107,707,230			$	85,888,190	$	210,899,858

Number of shares used in basic computation	241,684,323			255,219,868				243,983,276		256,350,600
Additional weighted average dilutive common stock equivalents	—			1,359,753				1,085,380		1,344,285
Diluted weighted average shares outstanding	241,684,323		0	256,579,621		0		245,068,656		257,694,885

Net (Loss) Income per share - Diluted	$	(0.01)		$	0.42			$	0.35	$	0.82

Shares related to stock plans not included in diluted average common shares outstanding because their effect would be anti-dilutive	1,636,661			1,013,332				428,948		1,011,948

Stock-Based Compensation Plans

6 Months Ended

Jun. 30, 2020

Stock-Based Compensation Plans

As of June 30, 2020, the Company had two equity incentive plans, which include the Gentex Corporation 2019 Omnibus Incentive Plan ("2019 Omnibus Plan"), and an employee stock purchase plan. Those plans and any prior material amendments thereto have previously been approved by shareholders.

The 2019 Omnibus Plan provides for the potential awards to: i) employees; and ii) non-employee directors of the Company or its subsidiaries, which potential awards may be stock options (both incentive stock options and non-qualified stock options), appreciation rights, restricted stock, restricted stock units, performance share awards and performance units, and other awards that are stock-based, cash-based or a combination of both. The 2019 Omnibus Plan replaced the Company's Employee Stock Option Plan, Second Restricted Stock Plan, and Amended and Restated Non-Employee Director Stock Option Plan (the "Prior Plans"), which were also approved by shareholders. Any existing awards previously granted under the Prior Plans, including those made to non-officers in the first quarter of 2019, remain outstanding in accordance with their terms and are governed by the Prior Plans as applicable.

Readers should refer to Note 5 of the consolidated financial statements in the Company's Annual Report on Form 10-K for the calendar year ended December 31, 2019, for additional information related to the Prior Plans.

The Company recognized total compensation expense for share-based payments of $9,641,353 and $15,960,362 for three and six months ended June 30, 2020, respectively, which included approximately $4,173,710 in severance expense during the second quarter 2020. The Company recognized compensation expense for share-based payments of $5,200,045 and $9,986,839 for the three and six months ended June 30, 2019, respectively. A portion of the compensation cost for share based payment awards is capitalized as part of inventory.

2019 Omnibus Incentive Plan

The 2019 Omnibus Incentive Plan covers 45,000,000 shares of common stock. The purpose of the 2019 Omnibus Incentive Plan is to attract and retain employees, officers, and directors of the Company and its subsidiaries and to motivate and provide such persons incentives and rewards for performance. As of June 30, 2020, 8,458,942 shares (net of shares from canceled/expired options) have been issued under the 2019 Omnibus Plan, which includes stock options (at a set conversion rate), restricted shares, and performance share awards.

Employee Stock Options

Under the 2019 Omnibus Plan and the Employee Stock Option Plan, the option exercise price equals the stock’s market price on the date of grant. The options vest after one to five years, and expire after five to ten years. As of June 30, 2020, there was $6,882,606 of unearned compensation cost associated with stock options granted under the 2019 Omnibus Incentive Plan and the Employee Stock Option Plan, which is expected to be recognized over the remaining vesting periods.

The fair value of each option grant was estimated on the date of grant using the Black-Scholes option pricing model with the following weighted-average assumptions for the indicated periods:


	Three Months Ended June 30,						Six Months Ended June 30,
	2020		2019		2020		2019
Dividend Yield ⁽¹⁾	1.99	%	2.03	%	2.01	%	2.03	%
Expected volatility ⁽²⁾	27.91	%	23.71	%	27.21	%	23.64	%
Risk-free interest rate ⁽³⁾	0.29	%	1.76	%	0.33	%	2.00	%
Expected term of options (years) ⁽⁴⁾	4.16		4.17		4.16		4.18
Weighted-avg. grant date fair value	$4.67		$4.23		$4.24		$3.96

^1.Represents the Company’s estimated cash dividend yield over the expected term of option grant.

^2.Amount is determined based on analysis of historical price volatility of the Company’s common stock. The expected volatility is based on the daily percentage change in the price of the stock over a period equal to the expected term of the option grant.

^3.Represents the U.S. Treasury yield over the expected term of the option grant.

^4.Represents the period of time that options granted are expected to be outstanding. Based on analysis of historical option exercise activity, the Company has determined that all employee groups exhibit similar exercise and post-vesting termination behavior.

Restricted Shares

Restricted shares awarded under the 2019 Omnibus Plan and the Second Restricted Stock Plan entitle the shareholder to all rights of common stock ownership except that the shares may not be sold, transferred, pledged, exchanged or otherwise disposed of during the restriction period. The restriction period is determined by the Compensation Committee, appointed by the Board of Directors, but may not exceed ten years under the terms of such plans. As of June 30, 2020, the Company had unearned stock-based compensation of $43,352,020 associated with the restricted stock grants issued under the 2019 Omnibus Plan and the prior plan. The unearned stock-based compensation related to these grants is being amortized to compensation expense over the applicable restriction periods. Amortization expense from restricted stock grants in the three and six months ended June 30, 2020 was $7,580,492 and $11,905,749, respectively, which included $4,148,477 of severance related expense for the second quarter of 2020. Amortization expense from restricted stock grants for the three and six months ended June 30, 2019 was $3,274,411 and $6,046,175, respectively.

Performance Shares

Performance shares awarded under the 2019 Omnibus Plan are considered performance condition awards as attainment is based on the Company's performance relative to pre-established metrics. The fair value of such performance share awards was determined using the Company's closing stock price on the date of grant. The expected attainment of the metrics for these awards is then analyzed each reporting period, and the related expense is adjusted based on expected attainment, if the then expected attainment differs from previous expectations. The cumulative effect on current and prior periods of a change in expected attainment is recognized in the period of change.

As of June 30, 2020, the Company had unearned stock-based compensation of $4,932,401 associated with these performance share grants. The unearned stock-based compensation related to these grants is being amortized to compensation expense over the applicable performance periods. Amortization expense from performance share grants in the three and six months ended June 30, 2020 was $563,783 and $957,560, respectively. No amortization expense for performance share grants was incurred in 2019, as no such awards were issued and outstanding.

Employee Stock Purchase Plan

The Company has an employee stock purchase plan covering 2,000,000 shares of common stock. Under the plan, the Company sells shares at 85% of the stock’s market price at date of purchase. Under ASC 718, Compensation - Stock Compensation, the 15% discounted value is recognized as compensation expense. As of June 30, 2020, the Company has issued 1,269,603 shares under this plan.

Comprehensive Income

6 Months Ended

Jun. 30, 2020

Equity [Abstract]

Comprehensive income reflects the change in equity of a business enterprise during a period from transactions and other events and circumstances from non-owner sources. For the Company, comprehensive income represents net income adjusted for unrealized gains and losses on certain debt investments, foreign currency translation adjustments, and derivatives.

The following table presents the net changes in the Company's accumulated other comprehensive income (loss) by component (all amounts shown are net of tax):


	Three Months Ended June 30,								Six Months Ended June 30,
	2020		2019		2020		2019
Foreign currency translation adjustments:
Balance at beginning of period	$	(3,076,679)	$	(1,375,888)	$	(2,384,589)	$	(1,674,887)
Other Comprehensive (loss) income before reclassifications	136,627		(475,686)		(555,463)		(176,687)

Net current-period change	136,627		(475,686)		(555,463)		(176,687)
Balance at end of period	(2,940,052)		(1,851,574)		(2,940,052)		(1,851,574)

Unrealized gains on available-for-sale debt securities:
Balance at beginning of period	3,291,473		1,100,154		1,095,486		74,549
Other Comprehensive income before reclassifications	3,109,755		1,353,661		5,334,951		2,449,241
Amounts reclassified from accumulated other comprehensive income	(721,932)		(103,020)		(751,141)		(172,995)
Net current-period change	2,387,823		1,250,641		4,583,810		2,276,246
Balance at end of period	5,679,296		2,350,795		5,679,296		2,350,795







Accumulated other comprehensive income, end of period	$	2,739,244	$	499,221	$	2,739,244	$	499,221

The following table presents details of reclassifications out of accumulated other comprehensive income for the three and six months ended June 30, 2020 and 2019.


Details about Accumulated Other Comprehensive Income Components	Amounts Reclassified from Other Comprehensive Income									Affected Line item in the Statement of Consolidated Income
	Three Months Ended June 30,						Six Months Ended June 30,
	2020		2019		2020		2019
Unrealized gains on available-for-sale debt securities
Realized gain on sale of securities	$	913,838	$	130,405	$	950,812	$	218,981	Investment income
Provision for income taxes	(191,906)		(27,385)		(199,671)		(45,986)		Provision for income taxes
Total net reclassifications for the period	$	721,932	$	103,020	$	751,141	$	172,995	Net of tax

Debt and Financing Arrangements	6 Months Ended
Debt and Financing Arrangements	Jun. 30, 2020
Debt Disclosure [Abstract]
Debt and Financing Arrangements	Debt and Financing Arrangements On October 15, 2018, the Company entered into a Credit Agreement (“Credit Agreement”) with PNC as the administrative agent and sole lender. Pursuant to this Credit Agreement, the Company has access to a $150 million senior revolving credit facility (“Revolver”). Under the terms of the Credit Agreement, the Company is entitled to further request an additional aggregate principal amount of up to $100 million, subject to the satisfaction of certain conditions. In addition, the Company is entitled to the benefit of swing loans from amounts otherwise available under the Revolver in the aggregate principal amount of up to $20 million and to request Letters of Credit from amounts otherwise available under the Revolver in the aggregate principle amount up to $20 million, both subject to certain conditions. The obligations of the Company under the Credit Agreement are not secured, but are subject to certain covenants. As of June 30, 2020, there was an outstanding balance of $75 million on the Revolver. In the next twelve months, the Company has the ability and intent to repay the full outstanding balance using cash; therefore, this balance has been classified as a current liability. The Revolver expires on October 15, 2023. As of June 30, 2020, the borrowing rate on its Revolver is derived from the one month LIBOR, and based on the Company's leverage ratio as of June 30, 2020, the interest rate on its borrowings is equal to 1.06%. During the three and six months ended June 30, 2020, interest expense was $0.3 million and $0.4 million respectively, which was recorded with the "Other income (loss), net" section of the Unaudited Consolidated Statements of Income. Based on loan balances as of June 30, 2020, a one percent increase in the Company's borrowing rate would increase net interest expense paid by the Company on its borrowings by approximately $0.8 million dollars on an annual basis. The Credit Agreement contains customary representations and warranties and certain covenants that place certain limitations on the Company. As of June 30, 2020, the Company is in compliance with its covenants under the Credit Agreement.

Equity	6 Months Ended
Equity	Jun. 30, 2020
Equity [Abstract]
Equity	Equity The decrease in common stock during the six months ended June 30, 2020, was primarily due to the repurchases of 7.0 million shares, partially offset by the issuance of 1.4 million shares of the Company’s common stock under the Company’s stock-based compensation plans and the issuance of 0.1 million shares of the Company's common stock as part of the acquisition of Vaporsens (see Note 16 for more information). The total net decrease was 5.5 million shares. The Company announced a $0.005 (1/2 cent) per share increase in its quarterly cash dividend rate during the first quarter of 2020. As such, the Company recorded a cash dividend of $0.120 per share during the second quarter of 2020 as compared to a cash dividend of $0.115 per share during the second quarter of 2019. The second quarter 2020 dividend of $29.5 million was declared on June 9, 2020, and was paid on July 22, 2020.

Contingencies	6 Months Ended
Contingencies	Jun. 30, 2020
Commitments and Contingencies Disclosure [Abstract]
Contingencies	ContingenciesThe Company is periodically involved in legal proceedings, legal actions and claims arising in the normal course of business, including proceedings relating to product liability, intellectual property, safety and health, employment, regulatory, and other matters. Such matters are subject to many uncertainties and outcomes are not predictable. The Company does not believe, however, that at the current time any of these matters constitute material pending legal proceedings that will have a material adverse effect on the financial position or future results of operations or cash flows of the Company.

Segment Reporting

6 Months Ended

Jun. 30, 2020

Segment Reporting [Abstract]

Segment Reporting

The Company's automotive segment develops and manufactures digital vision and connected car products and electronics, including: automatic-dimming rearview mirrors with and without electronic features; non-auto dimming rearview mirrors with and without electronic features; and other electronics. The Company also develops and manufactures variably dimming windows for the aerospace industry and fire protection products for the commercial construction industry, which are combined into the "Other" segment. During the second quarter of 2020, the Company also acquired Vaporsens, which specializes in nanofiber chemical sensing research and development, which was also combined in the "Other" segment, as shown below. Further information in regards to the Vaporsens transaction is included in Note 16 of the financial statements.


	Three Months Ended June 30,						Six Months Ended June 30,
	2020		2019		2020		2019
Revenue:
Automotive Products	$	222,067,846	$	456,625,064	$	661,923,434	$	912,423,707
Other	7,857,710		12,086,290		21,763,847		24,876,644
Total	$	229,925,556	$	468,711,354	$	683,687,281	$	937,300,351
Income from operations:
Automotive Products	$	(6,054,235)	$	124,295,223	$	94,721,308	$	241,247,925
Other	(684,021)		3,609,743		3,567,602		8,253,373
Total	$	(6,738,256)	$	127,904,966	$	98,288,910	$	249,501,298

The entire disclosure for reporting segments including data and tables. Reportable segments include those that meet any of the following quantitative thresholds a) it's reported revenue, including sales to external customers and intersegment sales or transfers is 10 percent or more of the combined revenue, internal and external, of all operating segments b) the absolute amount of its reported profit or loss is 10 percent or more of the greater, in absolute amount of 1) the combined reported profit of all operating segments that did not report a loss or 2) the combined reported loss of all operating segments that did report a loss c) its assets are 10 percent or more of the combined assets of all operating segments.

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Income Taxes	6 Months Ended
Income Taxes	Jun. 30, 2020
Income Tax Disclosure [Abstract]
Income Taxes	Income TaxesThe effective tax rate was 15.7% in the six months ended June 30, 2020 compared to 16.4% for the same period in 2019. Generally, effective tax rates for these periods differ from statutory federal income tax rates, due to provisions for state and local income taxes, permanent tax differences, and the foreign-derived intangible income tax deduction and research and development tax credits.

The entire disclosure for income taxes. Disclosures may include net deferred tax liability or asset recognized in an enterprise's statement of financial position, net change during the year in the total valuation allowance, approximate tax effect of each type of temporary difference and carryforward that gives rise to a significant portion of deferred tax liabilities and deferred tax assets, utilization of a tax carryback, and tax uncertainties information.

Revenue from Contract with Customer [Abstract]

Revenue

6 Months Ended

Jun. 30, 2020

Revenue

The following table shows the Company’s Automotive revenue and Other Products revenue disaggregated by geographical location for Automotive Products for the three and six month periods ended June 30, 2020 and June 30, 2019:


Revenue	Three Months Ended June 30, 2020		Three Months Ended June 30, 2019		Six Months Ended June 30, 2020		Six Months Ended June 30, 2019
Automotive Products
U.S.	$	55,849,461	$	144,547,946	$	191,431,379	$	285,931,010
Germany	23,866,009		73,151,692		96,651,733		151,601,619
Japan	37,333,947		55,722,292		88,470,880		112,055,986
Mexico	13,589,601		42,178,705		59,540,082		86,589,093
Other	91,428,828		141,024,429		225,829,360		276,245,999
Total Automotive Products	$	222,067,846	$	456,625,064	$	661,923,434	$	912,423,707
Other Products (U.S.)	7,857,710		12,086,290		21,763,847		24,876,644
Total Revenue	$	229,925,556	$	468,711,354	$	683,687,281	$	937,300,351

Revenue by geographic area may fluctuate based on many factors, including: exposure to local economic, political and labor conditions; a pandemic; unexpected changes in laws, regulations, trade or monetary or fiscal policy, including interest rates, foreign currency exchange rates and changes in the rate of inflation in the U.S. and other foreign countries; and tariffs, quotas, customs and other import or export restrictions and other trade barriers.

The following table disaggregates the Company’s Automotive revenue and Other revenue by major source for the three and six month periods ended June 30, 2020 and June 30, 2019:


Revenue	Three Months Ended June 30, 2020		Three Months Ended June 30, 2019		Six Months Ended June 30, 2020		Six Months Ended June 30, 2019
Automotive Segment
Automotive Mirrors & Electronics	$	210,600,540	$	413,429,267	$	611,685,854	$	822,400,934
HomeLink Modules*	11,467,306		43,195,797		50,237,580		90,022,773
Total Automotive Products	$	222,067,846	$	456,625,064	$	661,923,434	$	912,423,707

Other Segment
Fire Protection Products	4,837,540		6,359,266		11,006,291		12,211,499
Windows Products	3,020,170		5,727,024		10,757,557		12,665,145
Total Other	$	7,857,710	$	12,086,290	$	21,763,848	$	24,876,644

*Excludes HomeLink revenue where HomeLink electronics are integrated into interior auto-dimming mirrors.

The entire disclosure of revenue from contract with customer to transfer good or service and to transfer nonfinancial asset. Includes, but is not limited to, disaggregation of revenue, credit loss recognized from contract with customer, judgment and change in judgment related to contract with customer, and asset recognized from cost incurred to obtain or fulfill contract with customer. Excludes insurance and lease contracts.

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Acquisition of Vaporsens, Inc

Leases

6 Months Ended

Jun. 30, 2020

Leases [Abstract]

Leases

The Company has operating leases for corporate offices, warehouses, vehicles, and other equipment, which are included within "Plant and Equipment - Net" section of the Condensed Consolidated Balance Sheets. The leases have remaining lease terms of 1 year to 5 years. The weighted average remaining lease term for operating leases as of June 30, 2020 was 2 years, with a weighted average discount rate of 1.4%.

Future minimum lease payments for operating leases as of June 30, 2020 were as follows:


Year ending December 31,

2020 (excluding the six months ended June 30, 2020)	$	616,477
2021	931,848
2022	617,178
2023	209,525
2024	12,555
Thereafter	2,697
Total future minimum lease payments	2,390,280
Less imputed interest	(25,703)
Total	$	2,364,577


Reported as of June 30, 2020

Accrued Liabilities	$	1,105,254
Other Non-Current Liabilities	1,259,323
Total	$	2,364,577

Acquisition of Vaporsens, Inc

6 Months Ended

Jun. 30, 2020

Business Combinations [Abstract]

On April 3, 2020, the Company acquired Vaporsens, Inc (“Vaporsens”) for $10.6 million in a stock purchase deal, which was in addition to the previous $3.0 million equity investment by the Company in Vaporsens. The Company funded the acquisition with $7.1 million in cash payments, with the remaining $3.5 million of consideration paid with restricted common stock of the Company. Vaporsens specializes in nanofiber chemical sensing research and development, which the Company anticipates using to complement and expand its product offerings. Vaporsens is now a 100% owned subsidiary of the Company, and will be classified within the “Other” segment.

The assets acquired and liabilities assumed were recorded at fair value on the acquisition date. The Company accounted for the acquisition under the provisions of FASB ASC Topic 805, Business Combinations. There were no revenues or earnings of the business of Vaporsens which were included in the the Company’s consolidated statement of income and comprehensive income for the quarter or year to date periods ended June 30, 2020.

The following table summarizes the fair values of the assets acquired, and the liabilities assumed, as of the acquisition date of April 3, 2020. The valuation process is not complete and the final determination of the fair values may result in further adjustments to the values presented below:


	Fair Value
Current Assets	$	435,722
Personal Property	562,840
Technology Licenses	245,335
In-Process R&D	11,000,000
Goodwill	1,667,177
Total assets acquired	13,911,074
Current liabilities	255,522
Deferred Tax Liability	36,552
Total Liabilities assumed	292,074
Net Assets Acquired	$	13,619,000

The allocation of the purchase price above is considered preliminary and was based upon valuation information available and estimates and assumptions made as of June 30, 2020. The Company is still in the process of verifying data and finalizing information related to the valuation and recording of identifiable intangible assets, deferred taxes, net working capital, and the resulting effects on the amount of recorded goodwill. The Company expects to finalize these matters within the measurement period, which is currently expected to remain open through the end of calendar year 2020.

Through June 30, 2020, the Company has incurred acquisition-related costs of approximately $550,000, which has been expensed as incurred in the "Selling, general & administrative" section of its Condensed Consolidated Income Statement.

Adoption of New Accounting Pronouncements (Policies)	6 Months Ended
Adoption of New Accounting Pronouncements (Policies)	Jun. 30, 2020
Accounting Standards Update and Change in Accounting Principle [Abstract]
Adoption of New Accounting Pronouncements	Effective January 1, 2020, the Company adopted Accounting Standards Update ("ASU") 2016-13, Financial Instruments - Credit Losses (Topic 326), Measurement of Credit Losses on Financial Instruments. This guidance must be adopted using a modified retrospective transition method through a cumulative-effect adjustment to retained earnings in the period of adoption. Based on the insignificant impact of this ASU on the Company's financial statements, a cumulative-effect adjustment to retained earnings was not deemed necessary. The standard requires a change in the measurement approach for credit losses on financial assets measured on an amortized cost basis from an incurred loss method to an expected loss method, thereby eliminating the requirement that a credit loss be considered probable to impact the valuation of a financial asset measured on an amortized cost basis. The standard requires the measurement of expected credit losses to be based on relevant information about past events, including historical experience, current conditions, and a reasonable and supportable forecast that affects the collectability of the related financial asset. It also modifies the impairment model for available-for-sale debt securities and provides a simplified accounting model for purchased financial assets with credit deterioration since their origination. The adoption of this standard did not have a material impact on the Company's consolidated balance sheet, consolidated income statement, or consolidated statement of cash flows.

Goodwill and Other Intangible Assets (Tables)

6 Months Ended

Jun. 30, 2020

Goodwill and Intangible Assets Disclosure [Abstract]

Schedule of Goodwill

The carrying value of Goodwill as of June 30, 2020 and December 31, 2019 was $309.0 million and $307.4 million, respectively.


	Carrying Amount
Balance as of December 31, 2019	$	307,365,845
Acquisitions	1,667,177
Divestitures	—
Impairments	—
Other	—
Balance as of June 30, 2020	$	309,033,022

Schedule of Intangible Assets

The patents and intangible assets and related change in carrying values are set forth in the tables below:

As of June 30, 2020:


Other Intangible Assets	Gross		Accumulated Amortization		Net		Assumed Useful Life
Gentex Patents	$	37,859,912	$	(23,591,325)	$	14,268,587	Various
Vaporsens Technology License	279,113		(31,357)		247,756		Various

Other Intangible Assets
HomeLink^®Trade Names and Trademarks	$	52,000,000	$	—	$	52,000,000	Indefinite
HomeLink^® Technology	180,000,000		(101,250,000)		78,750,000		12 years
Existing Customer Platforms	43,000,000		(29,025,000)		13,975,000		10 years
Exclusive Licensing Agreement	96,000,000		—		96,000,000		Indefinite
Vaporsens In-Process R&D	11,000,000		—		11,000,000		Indefinite
Total Other Intangible Assets	$	382,000,000	$	(130,275,000)	$	251,725,000

Total Patents & Other Intangible Assets	$	420,139,025	$	(153,897,682)	$	266,241,343

As of December 31, 2019:


Other Intangible Assets	Gross		Accumulated Amortization		Net		Assumed Useful Life
Gentex Patents	$	37,328,963	$	(22,491,010)	$	14,837,953	Various

Other Intangible Assets
HomeLink^® Trade Names and Trademarks	$	52,000,000	$	—	$	52,000,000	Indefinite
HomeLink^® Technology	180,000,000		(93,750,000)		86,250,000		12 years
Existing Customer Platforms	43,000,000		(26,875,000)		16,125,000		10 years
Exclusive Licensing Agreement	96,000,000		—		96,000,000		Indefinite
Total Other Intangible Assets	$	371,000,000	$	(120,625,000)	$	250,375,000

Total Patents & Other Intangible Assets	$	408,328,963	$	(143,116,010)	$	265,212,953

Investments (Tables)

6 Months Ended

Jun. 30, 2020

Investments [Abstract]

Investment Securities Stated at Fair Value

Assets or liabilities that have recurring fair value measurements are shown below as of June 30, 2020 and December 31, 2019:

As of June 30, 2020:


			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	June 30, 2020		(Level 1)		(Level 2)		(Level 3)
Cash & Cash Equivalents	$	343,811,484	$	343,811,484	$	—	$	—
Short-Term Investments:
Certificate of Deposit	1,023,558		1,023,558		—		—
Corporate Bonds	18,465,053		—		18,465,053		—
Government Securities	43,412,712		—		43,412,712		—
Municipal Bonds	4,292,331		—		4,292,331		—
Other	2,821,510		2,821,510		—		—
Long-Term Investments:
Asset Backed Securities	42,140,999		—		42,140,999		—
Certificate of Deposit	4,173,150		4,173,150		—		—
Corporate Bonds	21,101,912		—		21,101,912		—
Government Securities	617,226		—		617,226		—
Municipal Bonds	94,430,839		—		94,430,839		—


Total	$	576,290,774	$	351,829,702	$	224,461,072	$	—

As of December 31, 2019:


			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, 2019		(Level 1)		(Level 2)		(Level 3)
Cash & Cash Equivalents	$	296,321,622	$	296,321,622	$	—	$	—
Short-Term Investments:
Certificate of Deposit	50,099,795		50,099,795		—		—
Corporate Bonds	29,219,685		—		29,219,685		—
Government Securities	58,432,823		—		58,432,823		—
Other	2,631,750		2,631,750		—		—

Long-Term Investments:
Asset-backed Securities	25,791,029		—		25,791,029		—
Certificate of Deposit	3,557,798		3,557,798				—
Corporate Bonds	22,815,998		—		22,815,998		—
Governmental Securities	6,088,190		—		6,088,190		—
Municipal Bonds	72,638,690		—		72,638,690		—
Total	$	567,597,380	$	352,610,965	$	214,986,415	$	—

Schedule of Amortized Cost, Unrealized Gains And Losses, And Market Value of Investment Securities

The amortized cost, unrealized gains and losses, and market value of investment securities are shown as of June 30, 2020 and December 31, 2019:

As of June 30, 2020:


			Unrealized
	Cost		Gains		Losses		Market Value
Short-Term Investments:
Certificate of Deposit	$	1,000,000	$	23,558	$	—	$	1,023,558
Corporate Bonds	18,328,367		138,975		(2,289)		18,465,053
Government Securities	43,146,665		266,047		—		43,412,712
Municipal Bonds	4,256,184		36,147		—		4,292,331
Other	2,821,510		—		—		2,821,510
Long-Term Investments:
Asset Backed Securities	41,140,592		1,032,218		(31,811)		42,140,999
Certificate of Deposit	4,006,912		166,238		—		4,173,150
Corporate Bonds	20,230,114		871,798		—		21,101,912
Government Securities	614,995		2,231		—		617,226
Municipal Bonds	89,744,967		4,707,257		(21,385)		94,430,839
Total	$	225,290,306	$	7,244,469	$	(55,485)	$	232,479,290

As of December 31, 2019:


			Unrealized
	Cost		Gains		Losses		Market Value
Short-Term Investments:
Certificate of Deposit	$	50,099,795	$	—	$	—	$	50,099,795
Corporate Bonds	29,025,624		194,061		—		29,219,685

Government Securities	58,343,911		99,917		(11,005)		58,432,823
Other	2,631,750		—		—		2,631,750
Long-Term Investments:
Asset-backed Securities	25,971,156		—		(180,127)		25,791,029
Certificate of Deposit	3,500,000		58,808		(1,010)		3,557,798
Corporate Bonds	22,306,130		509,868		—		22,815,998
Government Securities	6,012,705		75,485		—		6,088,190
Municipal Bonds	71,997,996		1,036,116		(395,422)		72,638,690

Total	$	269,889,067	$	1,974,255	$	(587,564)	$	271,275,758

Schedule of Unrealized Loss on Investments

Unrealized losses on investments as of June 30, 2020, are as follows:


	Aggregate Unrealized Losses		Aggregate Fair Value
Loss duration of less than one year	$	55,485	$	18,860,975
Loss duration of greater than one year	—		—
Total	$	55,485	$	18,860,975

Unrealized losses on investments as of December 31, 2019, are as follows:


	Aggregate Unrealized Losses		Aggregate Fair Value
Loss duration of less than one year	$	587,564	$	90,721,081
Loss duration of greater than one year	—		—
Total	$	587,564	$	90,721,081

Investments Classified by Contractual Maturity Date

Fixed income securities as of June 30, 2020 have contractual maturities as follows:


Due within one year	$	67,193,654
Due between one and five years	46,324,201
Due over five years	116,139,925
	$	229,657,780

Inventories (Tables)

6 Months Ended

Jun. 30, 2020

Inventory Disclosure [Abstract]

Schedule of Inventories

Inventories consisted of the following at the respective balance sheet dates:


	June 30, 2020		December 31, 2019
Raw materials	$	179,537,716	$	164,974,553
Work-in-process	34,708,883		33,069,255
Finished goods	45,481,590		50,898,047
Total Inventory	$	259,728,189	$	248,941,855

Earnings Per Share (Tables)

6 Months Ended

Jun. 30, 2020

Earnings Per Share [Abstract]

Schedule of Earnings Per Share Basic And Diluted


	Three Months Ended June 30,									Six Months Ended June 30,
	2020			2019				2020		2019
Basic Earnings Per Share
Net (Loss) Income	$	(2,374,033)		$	108,958,625			$	87,131,768	$	213,239,036
Less: Dividends and undistributed earnings allocated to participating securities	439,327			1,256,243				1,245,275		2,348,020
Net (Loss) Income available to common shareholders	$	(2,813,360)		$	107,702,382			$	85,886,493	$	210,891,016

Basic weighted average shares outstanding	241,684,323			255,219,868				243,983,276		256,350,600
Net (Loss) Income per share - Basic	$	(0.01)		$	0.42			$	0.35	$	0.82

Diluted Earnings Per Share
Allocation of Net (Loss) Income used in basic computation	$	(2,813,360)		$	107,702,382	$	—	$	85,886,493	$	210,891,016
Reallocation of undistributed earnings	—			4,848				1,697		8,842
Net (Loss) Income available to common shareholders - Diluted	$	(2,813,360)		$	107,707,230			$	85,888,190	$	210,899,858

Number of shares used in basic computation	241,684,323			255,219,868				243,983,276		256,350,600
Additional weighted average dilutive common stock equivalents	—			1,359,753				1,085,380		1,344,285
Diluted weighted average shares outstanding	241,684,323		0	256,579,621		0		245,068,656		257,694,885

Net (Loss) Income per share - Diluted	$	(0.01)		$	0.42			$	0.35	$	0.82

Shares related to stock plans not included in diluted average common shares outstanding because their effect would be anti-dilutive	1,636,661			1,013,332				428,948		1,011,948

Stock-Based Compensation Plans (Tables)

6 Months Ended

Jun. 30, 2020

Share-based Payment Arrangement [Abstract]

Weighted-Average Assumptions For The Employee Stock Option Plan

The fair value of each option grant was estimated on the date of grant using the Black-Scholes option pricing model with the following weighted-average assumptions for the indicated periods:


	Three Months Ended June 30,						Six Months Ended June 30,
	2020		2019		2020		2019
Dividend Yield ⁽¹⁾	1.99	%	2.03	%	2.01	%	2.03	%
Expected volatility ⁽²⁾	27.91	%	23.71	%	27.21	%	23.64	%
Risk-free interest rate ⁽³⁾	0.29	%	1.76	%	0.33	%	2.00	%
Expected term of options (years) ⁽⁴⁾	4.16		4.17		4.16		4.18
Weighted-avg. grant date fair value	$4.67		$4.23		$4.24		$3.96

^1.Represents the Company’s estimated cash dividend yield over the expected term of option grant.

^3.Represents the U.S. Treasury yield over the expected term of the option grant.

Comprehensive Income (Tables)

6 Months Ended

Jun. 30, 2020

Equity [Abstract]

Schedule of AOCI

The following table presents the net changes in the Company's accumulated other comprehensive income (loss) by component (all amounts shown are net of tax):


	Three Months Ended June 30,								Six Months Ended June 30,
	2020		2019		2020		2019
Foreign currency translation adjustments:
Balance at beginning of period	$	(3,076,679)	$	(1,375,888)	$	(2,384,589)	$	(1,674,887)
Other Comprehensive (loss) income before reclassifications	136,627		(475,686)		(555,463)		(176,687)

Net current-period change	136,627		(475,686)		(555,463)		(176,687)
Balance at end of period	(2,940,052)		(1,851,574)		(2,940,052)		(1,851,574)

Unrealized gains on available-for-sale debt securities:
Balance at beginning of period	3,291,473		1,100,154		1,095,486		74,549
Other Comprehensive income before reclassifications	3,109,755		1,353,661		5,334,951		2,449,241
Amounts reclassified from accumulated other comprehensive income	(721,932)		(103,020)		(751,141)		(172,995)
Net current-period change	2,387,823		1,250,641		4,583,810		2,276,246
Balance at end of period	5,679,296		2,350,795		5,679,296		2,350,795







Accumulated other comprehensive income, end of period	$	2,739,244	$	499,221	$	2,739,244	$	499,221

Reclassifications out of other comprehensive income

The following table presents details of reclassifications out of accumulated other comprehensive income for the three and six months ended June 30, 2020 and 2019.


Details about Accumulated Other Comprehensive Income Components	Amounts Reclassified from Other Comprehensive Income									Affected Line item in the Statement of Consolidated Income
	Three Months Ended June 30,						Six Months Ended June 30,
	2020		2019		2020		2019
Unrealized gains on available-for-sale debt securities
Realized gain on sale of securities	$	913,838	$	130,405	$	950,812	$	218,981	Investment income
Provision for income taxes	(191,906)		(27,385)		(199,671)		(45,986)		Provision for income taxes
Total net reclassifications for the period	$	721,932	$	103,020	$	751,141	$	172,995	Net of tax

Segment Reporting (Tables)

6 Months Ended

Jun. 30, 2020

Segment Reporting [Abstract]

Schedule of Automotive and Other Segment Reporting

During the second quarter of 2020, the Company also acquired Vaporsens, which specializes in nanofiber chemical sensing research and development, which was also combined in the "Other" segment, as shown below. Further information in regards to the Vaporsens transaction is included in Note 16 of the financial statements.


	Three Months Ended June 30,						Six Months Ended June 30,
	2020		2019		2020		2019
Revenue:
Automotive Products	$	222,067,846	$	456,625,064	$	661,923,434	$	912,423,707
Other	7,857,710		12,086,290		21,763,847		24,876,644
Total	$	229,925,556	$	468,711,354	$	683,687,281	$	937,300,351
Income from operations:
Automotive Products	$	(6,054,235)	$	124,295,223	$	94,721,308	$	241,247,925
Other	(684,021)		3,609,743		3,567,602		8,253,373
Total	$	(6,738,256)	$	127,904,966	$	98,288,910	$	249,501,298

Revenue (Tables)

6 Months Ended

Jun. 30, 2020

Revenue from Contract with Customer [Abstract]

Disaggregation of Revenue


Revenue	Three Months Ended June 30, 2020		Three Months Ended June 30, 2019		Six Months Ended June 30, 2020		Six Months Ended June 30, 2019
Automotive Products
U.S.	$	55,849,461	$	144,547,946	$	191,431,379	$	285,931,010
Germany	23,866,009		73,151,692		96,651,733		151,601,619
Japan	37,333,947		55,722,292		88,470,880		112,055,986
Mexico	13,589,601		42,178,705		59,540,082		86,589,093
Other	91,428,828		141,024,429		225,829,360		276,245,999
Total Automotive Products	$	222,067,846	$	456,625,064	$	661,923,434	$	912,423,707
Other Products (U.S.)	7,857,710		12,086,290		21,763,847		24,876,644
Total Revenue	$	229,925,556	$	468,711,354	$	683,687,281	$	937,300,351

The following table disaggregates the Company’s Automotive revenue and Other revenue by major source for the three and six month periods ended June 30, 2020 and June 30, 2019:


Revenue	Three Months Ended June 30, 2020		Three Months Ended June 30, 2019		Six Months Ended June 30, 2020		Six Months Ended June 30, 2019
Automotive Segment
Automotive Mirrors & Electronics	$	210,600,540	$	413,429,267	$	611,685,854	$	822,400,934
HomeLink Modules*	11,467,306		43,195,797		50,237,580		90,022,773
Total Automotive Products	$	222,067,846	$	456,625,064	$	661,923,434	$	912,423,707

Other Segment
Fire Protection Products	4,837,540		6,359,266		11,006,291		12,211,499
Windows Products	3,020,170		5,727,024		10,757,557		12,665,145
Total Other	$	7,857,710	$	12,086,290	$	21,763,848	$	24,876,644

*Excludes HomeLink revenue where HomeLink electronics are integrated into interior auto-dimming mirrors.

Leases (Tables)

6 Months Ended

Jun. 30, 2020

Leases [Abstract]

Future minimum lease payments

Future minimum lease payments for operating leases as of June 30, 2020 were as follows:


Year ending December 31,

2020 (excluding the six months ended June 30, 2020)	$	616,477
2021	931,848
2022	617,178
2023	209,525
2024	12,555
Thereafter	2,697
Total future minimum lease payments	2,390,280
Less imputed interest	(25,703)
Total	$	2,364,577

Lease liabilities


Reported as of June 30, 2020

Accrued Liabilities	$	1,105,254
Other Non-Current Liabilities	1,259,323
Total	$	2,364,577

Acquisition of Vaporsens, Inc (Tables)

6 Months Ended

Jun. 30, 2020

Business Combinations [Abstract]

Schedule of Recognized Identified Assets Acquired and Liabilities Assumed


	Fair Value
Current Assets	$	435,722
Personal Property	562,840
Technology Licenses	245,335
In-Process R&D	11,000,000
Goodwill	1,667,177
Total assets acquired	13,911,074
Current liabilities	255,522
Deferred Tax Liability	36,552
Total Liabilities assumed	292,074
Net Assets Acquired	$	13,619,000

Goodwill and Other Intangible Assets (Narrative) (Details) - USD ($)

3 Months Ended

6 Months Ended

Jun. 30, 2020

Jun. 30, 2019

Jun. 30, 2020

Jun. 30, 2019

Apr. 03, 2020

Dec. 31, 2019

^[1]

Dec. 31, 2013

Amortization expense, 2020

$ 309,033,022

$ 307,365,845

Acquisitions

1,667,177

Amortization expense

5,600,000

$ 11,200,000

5,600,000

$ 11,200,000

22,000,000

Amortization expense, 2021

22,000,000

Amortization expense, 2022

21,000,000

Amortization expense, 2023

19,000,000

Amortization expense, 2024

16,000,000

$ 16,000,000

HomeLink®

$ 307,400,000

Vaporsens Inc

Balance as of December 31, 2019

$ 1,667,177

Acquisitions

$ 1,700,000

[1]	The condensed consolidated balance sheet at December 31, 2019 has been derived from the audited financial statements at that date but does not include all of the information and footnotes required by accounting principles generally accepted in the United States for complete financial statements.

Goodwill and Other Intangible Assets (Schedule of Goodwill) (Details)

6 Months Ended

Jun. 30, 2020

USD ($)

Goodwill [Roll Forward]

$ 307,365,845

^[1]

1,667,177

Balance as of June 30, 2020

$ 309,033,022

[1]	The condensed consolidated balance sheet at December 31, 2019 has been derived from the audited financial statements at that date but does not include all of the information and footnotes required by accounting principles generally accepted in the United States for complete financial statements.

Goodwill and Other Intangible Assets (Schedule of Intangible Assets) (Details) - USD ($)

6 Months Ended

12 Months Ended

Jun. 30, 2020

Dec. 31, 2019

Finite-lived intangible assets, accumulated amortization

$ (130,275,000)

$ (120,625,000)

Intangible assets, gross

382,000,000

371,000,000

Intangible assets, net

251,725,000

250,375,000

^[1]

Gentex Patents

Finite-lived intangible assets, accumulated amortization

37,859,912

37,328,963

(23,591,325)

(22,491,010)

14,268,587

14,837,953

Technology Licenses

Finite-lived intangible assets, accumulated amortization

279,113

(31,357)

247,756

HomeLink® Technology

Finite-lived intangible assets, accumulated amortization

180,000,000

(101,250,000)

(93,750,000)

Finite-lived intangible asset, useful life

$ 78,750,000

$ 86,250,000

12 years

Existing Customer Platforms

Finite-lived intangible assets, accumulated amortization

$ 43,000,000

(29,025,000)

(26,875,000)

Finite-lived intangible asset, useful life

$ 13,975,000

$ 16,125,000

10 years

Patents and Other Intangible Assets

Finite-lived intangible assets, accumulated amortization

$ (153,897,682)

$ (143,116,010)

Intangible assets, gross

420,139,025

408,328,963

Intangible assets, net

266,241,343

265,212,953

HomeLink® Trade Names and Trademarks

Indefinite-lived intangible assets

52,000,000

Exclusive Licensing Agreement

Indefinite-lived intangible assets

96,000,000

$ 96,000,000

In-Process R&D

Indefinite-lived intangible assets

$ 11,000,000

[1]	The condensed consolidated balance sheet at December 31, 2019 has been derived from the audited financial statements at that date but does not include all of the information and footnotes required by accounting principles generally accepted in the United States for complete financial statements.

Investments (Narrative) (Details) - USD ($)	6 Months Ended
Investments (Narrative) (Details) - USD ($)	Jun. 30, 2020	Dec. 31, 2019
Investments, Debt and Equity Securities [Abstract]
Technology investments	$ 8,700,000	$ 9,000,000.0
Equity investment losses were considered to be other than temporary	$ 0

Investments (Schedule of Amortized Cost, Unrealized Gains and Losses, and Market Value of Investment Securities) (Details) - USD ($)	Jun. 30, 2020	Dec. 31, 2019
Debt Securities, Available-for-sale [Line Items]
Cost	$ 225,290,306	$ 269,889,067
Unrealized Gains	7,244,469	1,974,255
Unrealized Losses	(55,485)	(587,564)
Market Value	232,479,290	271,275,758
Short-Term Investments \| Certificate of Deposit
Debt Securities, Available-for-sale [Line Items]
Cost	1,000,000	50,099,795
Unrealized Gains	23,558	0
Unrealized Losses	0	0
Market Value	1,023,558	50,099,795
Short-Term Investments \| Corporate Bonds
Debt Securities, Available-for-sale [Line Items]
Cost	18,328,367	29,025,624
Unrealized Gains	138,975	194,061
Unrealized Losses	(2,289)	0
Market Value	18,465,053	29,219,685
Short-Term Investments \| Government Securities
Debt Securities, Available-for-sale [Line Items]
Cost	43,146,665	58,343,911
Unrealized Gains	266,047	99,917
Unrealized Losses	0	(11,005)
Market Value	43,412,712	58,432,823
Short-Term Investments \| Municipal Bonds
Debt Securities, Available-for-sale [Line Items]
Cost	4,256,184
Unrealized Gains	36,147
Unrealized Losses	0
Market Value	4,292,331
Short-Term Investments \| Other
Debt Securities, Available-for-sale [Line Items]
Cost	2,821,510	2,631,750
Unrealized Gains	0	0
Unrealized Losses	0	0
Market Value	2,821,510	2,631,750
Long-Term Investments \| Certificate of Deposit
Debt Securities, Available-for-sale [Line Items]
Cost	4,006,912	3,500,000
Unrealized Gains	166,238	58,808
Unrealized Losses	0	(1,010)
Market Value	4,173,150	3,557,798
Long-Term Investments \| Corporate Bonds
Debt Securities, Available-for-sale [Line Items]
Cost	20,230,114	22,306,130
Unrealized Gains	871,798	509,868
Unrealized Losses	0	0
Market Value	21,101,912	22,815,998
Long-Term Investments \| Government Securities
Debt Securities, Available-for-sale [Line Items]
Cost	614,995	6,012,705
Unrealized Gains	2,231	75,485
Unrealized Losses	0	0
Market Value	617,226	6,088,190
Long-Term Investments \| Municipal Bonds
Debt Securities, Available-for-sale [Line Items]
Cost	89,744,967	71,997,996
Unrealized Gains	4,707,257	1,036,116
Unrealized Losses	(21,385)	(395,422)
Market Value	94,430,839	72,638,690
Long-Term Investments \| Asset Backed Securities
Debt Securities, Available-for-sale [Line Items]
Cost	41,140,592	25,971,156
Unrealized Gains	1,032,218	0
Unrealized Losses	(31,811)	(180,127)
Market Value	$ 42,140,999	$ 25,791,029

Investments (Schedule of Unrealized Loss on Investments) (Details) - USD ($)	Jun. 30, 2020	Dec. 31, 2019
Investments [Abstract]
Aggregate Unrealized Losses, Loss duration less than one year	$ 55,485	$ 587,564
Aggregate Fair Value, Loss duration less than one year	18,860,975	90,721,081
Aggregate Unrealized Losses, Loss duration greater than one year	0	0
Aggregate Fair Value, Loss duration greater than one year	0	0
Aggregate Unrealized Losses, Total	55,485	587,564
Aggregate Fair Value, Total	$ 18,860,975	$ 90,721,081

Investments (Investments Classified by Contractual Maturity Date) (Details) - Fixed Income Securities	Jun. 30, 2020 USD ($)
Debt Securities, Available-for-sale [Line Items]
Due within one year	$ 67,193,654
Due between one and five years	46,324,201
Due over five years	116,139,925
Total	$ 229,657,780

Inventories (Schedule of Inventories) (Details) - USD ($)

Jun. 30, 2020

Dec. 31, 2019

Inventory Disclosure [Abstract]

Raw materials

$ 179,537,716

$ 164,974,553

Work-in-process

34,708,883

33,069,255

Finished goods

45,481,590

50,898,047

Total Inventory

$ 259,728,189

$ 248,941,855

^[1]

[1]	The condensed consolidated balance sheet at December 31, 2019 has been derived from the audited financial statements at that date but does not include all of the information and footnotes required by accounting principles generally accepted in the United States for complete financial statements.

Earnings Per Share (Schedule of Earnings Per Share, Basic and Diluted) (Details) - USD ($)

3 Months Ended

6 Months Ended

Jun. 30, 2020

Jun. 30, 2019

Jun. 30, 2020

Jun. 30, 2019

Basic Earnings Per Share

NET (LOSS) INCOME

$ (2,374,033)

$ 108,958,625

$ 87,131,768

$ 213,239,036

Less: Dividends and undistributed earnings allocated to participating securities

439,327

1,256,243

1,245,275

2,348,020

Net (Loss) Income available to common shareholders

$ (2,813,360)

$ 107,702,382

$ 85,886,493

$ 210,891,016

Basic weighted average shares outstanding (in shares)

241,684,323

255,219,868

243,983,276

256,350,600

Net (Loss) Income per share - Basic (in dollars per share)

^[1]

$ (0.01)

$ 0.42

$ 0.35

$ 0.82

Earnings Per Share, Diluted [Abstract]

Allocation of Net (Loss) Income used in basic computation

$ (2,813,360)

$ 107,702,382

$ 85,886,493

$ 210,891,016

Reallocation of undistributed earnings

4,848

1,697

8,842

Net (Loss) Income available to common shareholders - Diluted

$ (2,813,360)

$ 107,707,230

$ 85,888,190

$ 210,899,858

Number of shares used in basic computation

241,684,323

255,219,868

243,983,276

256,350,600

Additional weighted average dilutive common stock equivalents (in shares)

1,359,753

1,085,380

1,344,285

Diluted weighted average shares outstanding (in shares)

241,684,323

256,579,621

245,068,656

257,694,885

Net (Loss) Income per share - Diluted (in dollars per share)

^[1]

$ (0.01)

$ 0.42

$ 0.35

$ 0.82

1,636,661

1,013,332

428,948

1,011,948

[1]	⁽¹⁾ Earnings (Loss) Per Share has been adjusted to exclude the portion of net income allocated to participating securities as a result of share-based payment awards.

Stock-Based Compensation Plans (Narrative) (Details)	3 Months Ended		6 Months Ended		12 Months Ended
Stock-Based Compensation Plans (Narrative) (Details)	Jun. 30, 2020 USD ($) plan shares	Jun. 30, 2019 USD ($)	Jun. 30, 2020 USD ($) plan shares	Jun. 30, 2019 USD ($)	Dec. 31, 2019 USD ($)	Sep. 30, 2019 shares
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share based compensation expense			$ 15,960,362	$ 10,139,148
Compensation expense for share-based payments	$ 9,641,353	$ 5,200,045		9,986,839
Employee Severance
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Compensation expense for share-based payments	4,173,710
Omnibus Incentive Plan
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of shares authorized (in shares) \| shares						45,000,000
Shares issued under the Omnibus plan \| shares			8,458,942
Employee Stock Option Plan
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Unrecognized compensation cost	6,882,606		$ 6,882,606
Employee Stock Option Plan \| Minimum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Option vesting period			1 year
Option expiration period			5 years
Employee Stock Option Plan \| Maximum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Option vesting period			5 years
Option expiration period			10 years
Restricted Stock Plan
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Unrecognized compensation cost	43,352,020		$ 43,352,020
Restricted period, maximum			10 years
Amortization expense	7,580,492	$ 3,274,411	$ 11,905,749	$ 6,046,175
Restricted Stock Plan \| Employee Severance
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Amortization expense	$ 4,148,477
Employee Stock Purchase Plan
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Shares approved (in shares) \| shares	2,000,000		2,000,000
ESPP discount rate			85.00%
ESPP discount rate recognized as compensation expense			15.00%
Shares granted (in shares) \| shares	1,269,603		1,269,603
Equity Incentive Plans
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of plans \| plan	2		2
Performance Shares
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Unrecognized compensation cost	$ 4,932,401		$ 4,932,401
Amortization expense	$ 563,783		$ 957,560		$ 0

Stock-Based Compensation Plans (Weighted-Average Assumptions for the ESOP) (Details) - $ / shares	3 Months Ended		6 Months Ended
	Jun. 30, 2020	Jun. 30, 2019	Jun. 30, 2020	Jun. 30, 2019
Share-based Payment Arrangement [Abstract]
Dividend yield	1.99%	2.03%	2.01%	2.03%
Expected volatility	27.91%	23.71%	27.21%	23.64%
Risk-free interest rate	0.29%	1.76%	0.33%	2.00%
Expected term of options	4 years 1 month 28 days	4 years 2 months 1 day	4 years 1 month 28 days	4 years 2 months 4 days
Weighted average grant-date fair value (in dollars per share)	$ 4.67	$ 4.23	$ 4.24	$ 3.96

Comprehensive Income (AOCI Rollforward) (Details) - USD ($)

3 Months Ended

6 Months Ended

Jun. 30, 2020

Jun. 30, 2019

Jun. 30, 2020

Jun. 30, 2019

Dec. 31, 2019

^[1]

AOCI Attributable to Parent, Net of Tax [Roll Forward]

$ 1,834,605,633

$ 1,857,074,748

$ 1,938,087,820

^[1]

$ 1,861,751,660

150,417

109,733,580

91,160,115

215,338,595

Accumulated other comprehensive income, end of period

1,822,607,413

1,904,334,236

1,822,607,413

1,904,334,236

2,739,244

$ (1,289,103)

Accumulated Other Comprehensive Income (Loss)

AOCI Attributable to Parent, Net of Tax [Roll Forward]

214,794

(275,734)

(1,289,103)

(1,600,338)

Accumulated other comprehensive income, end of period

2,739,244

499,221

2,739,244

499,221

2,739,244

499,221

2,739,244

499,221

Foreign currency translation adjustments

AOCI Attributable to Parent, Net of Tax [Roll Forward]

Other Comprehensive (loss) income before reclassifications

(3,076,679)

(1,375,888)

(2,384,589)

(1,674,887)

136,627

(475,686)

(555,463)

(176,687)

136,627

(475,686)

(555,463)

(176,687)

Unrealized gains (losses) on available-for-sale debt securities

(2,940,052)

(1,851,574)

(2,940,052)

(1,851,574)

AOCI Attributable to Parent, Net of Tax [Roll Forward]

Other Comprehensive (loss) income before reclassifications

3,291,473

1,100,154

1,095,486

74,549

3,109,755

1,353,661

5,334,951

2,449,241

Amounts reclassified from accumulated other comprehensive income

2,387,823

1,250,641

4,583,810

2,276,246

(721,932)

(103,020)

(751,141)

(172,995)

$ 5,679,296

$ 2,350,795

$ 5,679,296

$ 2,350,795

[1]	The condensed consolidated balance sheet at December 31, 2019 has been derived from the audited financial statements at that date but does not include all of the information and footnotes required by accounting principles generally accepted in the United States for complete financial statements.

Accumulated change in equity from transactions and other events and circumstances from non-owner sources, net of tax effect, at period end. Excludes Net Income (Loss), and accumulated changes in equity from transactions resulting from investments by owners and distributions to owners. Includes foreign currency translation items, certain pension adjustments, unrealized gains and losses on certain investments in debt and equity securities, other than temporary impairment (OTTI) losses related to factors other than credit losses on available-for-sale and held-to-maturity debt securities that an entity does not intend to sell and it is not more likely than not that the entity will be required to sell before recovery of the amortized cost basis, as well as changes in the fair value of derivatives related to the effective portion of a designated cash flow hedge.

Total of all stockholders' equity (deficit) items, net of receivables from officers, directors, owners, and affiliates of the entity which are attributable to the parent. The amount of the economic entity's stockholders' equity attributable to the parent excludes the amount of stockholders' equity which is allocable to that ownership interest in subsidiary equity which is not attributable to the parent (noncontrolling interest, minority interest). This excludes temporary equity and is sometimes called permanent equity.

Comprehensive Income (Reclassification Out of Accumulated Other Comprehensive Income) (Details) - USD ($)	3 Months Ended		6 Months Ended
	Jun. 30, 2020	Jun. 30, 2019	Jun. 30, 2020	Jun. 30, 2019
Reclassification Out of Accumulated Other Comprehensive Income [Line Items]
Provision for income taxes	$ 1,497,994	$ (21,323,919)	$ (16,270,854)	$ (41,952,050)
Amounts Reclassified from Other Comprehensive Income \| Unrealized gains (losses) on available-for-sale debt securities
Reclassification Out of Accumulated Other Comprehensive Income [Line Items]
Realized gain on sale of securities	913,838	130,405	950,812	218,981
Provision for income taxes	(191,906)	(27,385)	(199,671)	(45,986)
Total net reclassifications for the period	$ 721,932	$ 103,020	$ 751,141	$ 172,995

Amount of current income tax expense (benefit) and deferred income tax expense (benefit) pertaining to continuing operations.

The consolidated profit or loss for the period, net of income taxes, including the portion attributable to the noncontrolling interest.

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Debt and Financing Arrangements (Details) - USD ($)	3 Months Ended	6 Months Ended
Debt and Financing Arrangements (Details) - USD ($)	Jun. 30, 2020	Jun. 30, 2020	Oct. 15, 2018
Debt Instrument [Line Items]
interest rate		1.06%
Interest expense	$ 300,000	$ 400,000
Increase in borrowing rate		1.00%
Interest expense annual increase		$ 800,000
Revolving Facility
Debt Instrument [Line Items]
Principal amount			$ 150,000,000
Long-term debt	$ 75,000,000	$ 75,000,000
Credit Agreement
Debt Instrument [Line Items]
Additional borrowings available			100,000,000
Swing Loans
Debt Instrument [Line Items]
Additional borrowings available			20,000,000
Letter of Credit
Debt Instrument [Line Items]
Additional borrowings available			$ 20,000,000

Equity (Details) - USD ($) $ / shares in Units, shares in Millions, $ in Millions	3 Months Ended			6 Months Ended
	Jun. 30, 2020	Mar. 31, 2020	Jun. 30, 2019	Jun. 30, 2020	Jun. 30, 2019
Equity [Abstract]
Stock repurchased (in shares)				7.0
Common stock issued under stock compensation plan (in shares)				1.4
Issuance of common stock related to acquisitions (in shares)				0.1
Net decrease in period (in shares)				5.5
Increase in quarterly dividend rate (in dollars per share)		$ 0.005
Dividends declared (in dollars per share)	$ 0.120		$ 0.115	$ 0.240	$ 0.230
Dividends declared	$ 29.5

Segment Reporting (Schedule of Automotive and Other Segment Reporting) (Details) - USD ($)	3 Months Ended		6 Months Ended
	Jun. 30, 2020	Jun. 30, 2019	Jun. 30, 2020	Jun. 30, 2019
Segment Reporting Information [Line Items]
Revenue	$ 229,925,556	$ 468,711,354	$ 683,687,281	$ 937,300,351
Income from operations	(6,738,256)	127,904,966	98,288,910	249,501,298
Automotive Products
Segment Reporting Information [Line Items]
Revenue	222,067,846	456,625,064	661,923,434	912,423,707
Income from operations	(6,054,235)	124,295,223	94,721,308	241,247,925
Other
Segment Reporting Information [Line Items]
Revenue	7,857,710	12,086,290	21,763,847	24,876,644
Income from operations	$ (684,021)	$ 3,609,743	$ 3,567,602	$ 8,253,373

Amount, including tax collected from customer, of revenue from satisfaction of performance obligation by transferring promised good or service to customer. Tax collected from customer is tax assessed by governmental authority that is both imposed on and concurrent with specific revenue-producing transaction, including, but not limited to, sales, use, value-added and excise.

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Acquired Finite-Lived Intangible Assets [Line Items]

Income Taxes (Details)	6 Months Ended
Income Taxes (Details)	Jun. 30, 2020	Jun. 30, 2019
Income Tax Disclosure [Abstract]
Effective income tax rate	15.70%	16.40%

Revenue (Details) - USD ($)	3 Months Ended		6 Months Ended
Revenue (Details) - USD ($)	Jun. 30, 2020	Jun. 30, 2019	Jun. 30, 2020	Jun. 30, 2019
Disaggregation of Revenue [Line Items]
Revenue	$ 229,925,556	$ 468,711,354	$ 683,687,281	$ 937,300,351
Automotive Segment
Disaggregation of Revenue [Line Items]
Revenue	222,067,846	456,625,064	661,923,434	912,423,707
Other Segment
Disaggregation of Revenue [Line Items]
Revenue	7,857,710	12,086,290	21,763,848	24,876,644
Automotive Products
Disaggregation of Revenue [Line Items]
Revenue	222,067,846	456,625,064	661,923,434	912,423,707
Automotive Mirrors & Electronics \| Automotive Segment
Disaggregation of Revenue [Line Items]
Revenue	210,600,540	413,429,267	611,685,854	822,400,934
HomeLink Modules \| Automotive Segment
Disaggregation of Revenue [Line Items]
Revenue	11,467,306	43,195,797	50,237,580	90,022,773
Fire Protection Products \| Other Segment
Disaggregation of Revenue [Line Items]
Revenue	4,837,540	6,359,266	11,006,291	12,211,499
Windows Products \| Other Segment
Disaggregation of Revenue [Line Items]
Revenue	3,020,170	5,727,024	10,757,557	12,665,145
U.S. \| Automotive Products
Disaggregation of Revenue [Line Items]
Revenue	55,849,461	144,547,946	191,431,379	285,931,010
U.S. \| Other Products
Disaggregation of Revenue [Line Items]
Revenue	7,857,710	12,086,290	21,763,847	24,876,644
Germany \| Automotive Products
Disaggregation of Revenue [Line Items]
Revenue	23,866,009	73,151,692	96,651,733	151,601,619
Japan \| Automotive Products
Disaggregation of Revenue [Line Items]
Revenue	37,333,947	55,722,292	88,470,880	112,055,986
Mexico \| Automotive Products
Disaggregation of Revenue [Line Items]
Revenue	13,589,601	42,178,705	59,540,082	86,589,093
Other \| Automotive Products
Disaggregation of Revenue [Line Items]
Revenue	$ 91,428,828	$ 141,024,429	$ 225,829,360	$ 276,245,999

Leases (Details)	Jun. 30, 2020 USD ($)
Lessee, Lease, Description [Line Items]
Weighted average remaining lease term	2 years
Weighted average discount rate	1.40%
2020 (excluding the six months ended June 30, 2020)	$ 616,477
2021	931,848
2022	617,178
2023	209,525
2024	12,555
Thereafter	2,697
Total future minimum lease payments	2,390,280
Less imputed interest	(25,703)
Total	2,364,577
Accrued Liabilities	1,105,254
Other Non-Current Liabilities	$ 1,259,323
Minimum
Lessee, Lease, Description [Line Items]
Remaining lease terms	1 year
Maximum
Lessee, Lease, Description [Line Items]
Remaining lease terms	5 years

Acquisition of Vaporsens, Inc (Details) - USD ($) $ in Thousands	Apr. 03, 2020	Jun. 30, 2020
Selling, General and Administrative Expenses
Business Acquisition [Line Items]
Acquisition-related costs		$ 550
Vaporsens Inc
Business Acquisition [Line Items]
Initial investment in Vaporsens	$ 3,000
Vaporsens Inc
Business Acquisition [Line Items]
Purchase price of acquisition	10,600
Cash paid to acquire business	$ 7,100
Ownership percentage of business acquisition	100.00%
Vaporsens Inc \| Common Stock \| Restricted Stock
Business Acquisition [Line Items]
Equity interest investment	$ 3,500

Acquisition of Vaporsens, Inc - Schedule of Assets Acquired and Liabilities Assumed (Details) - USD ($)

Jun. 30, 2020

Apr. 03, 2020

Dec. 31, 2019

^[1]

Acquired Finite-Lived Intangible Assets [Line Items]

$ 309,033,022

$ 307,365,845

Vaporsens Inc

Current Assets

$ 435,722

Personal Property

562,840