0000355811-23-000033 | 10-Q | XBRL Viewer

Print Document View Excel Document

Cover Page - shares	3 Months Ended
Cover Page - shares	Mar. 31, 2023	Apr. 28, 2023
Cover [Abstract]
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Mar. 31, 2023
Document Transition Report	false
Entity File Number	0-10235
Entity Registrant Name	GENTEX CORPORATION
Entity Incorporation, State or Country Code	MI
Entity Tax Identification Number	38-2030505
Entity Address, Address Line One	600 N. Centennial
Entity Address, City or Town	Zeeland
Entity Address, State or Province	MI
Entity Address, Postal Zip Code	49464
City Area Code	616
Local Phone Number	772-1800
Title of 12(b) Security	Common Stock, par value $0.06 per share
Trading Symbol	GNTX
Security Exchange Name	NASDAQ
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Large Accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	false
Entity Shell Company	false
Entity Common Stock, Shares Outstanding		233,702,848
Entity Central Index Key	0000355811
Document Fiscal Year Focus	2023
Document Fiscal Period Focus	Q1
Amendment Flag	false
Current Fiscal Year End Date	--12-31

Unaudited Condensed Consolidated Balance Sheets - USD ($)

Mar. 31, 2023

Dec. 31, 2022

CURRENT ASSETS

Cash and cash equivalents

$ 215,452,160

$ 214,754,638

^[1]

Restricted Cash

4,000,000

Short-term investments

25,635,492

23,007,385

^[1]

Accounts receivable, net

332,867,128

276,493,752

^[1]

Inventories

401,769,976

404,360,270

^[1]

Prepaid expenses and other

25,316,437

26,036,331

^[1]

Total current assets

1,005,041,193

948,652,376

^[1]

PLANT AND EQUIPMENT—NET

575,276,023

550,033,036

^[1]

OTHER ASSETS

Goodwill

313,686,026

313,807,494

^[1]

Long-term investments

229,398,824

202,331,983

^[1]

Intangible assets, net

214,535,910

219,360,910

^[1]

Deferred tax asset

23,795,400

25,528,700

^[1]

Patents and other assets, net

71,614,459

67,515,425

^[1]

Total other assets

853,030,619

828,544,512

^[1]

Total assets

2,433,347,835

2,327,229,924

^[1]

CURRENT LIABILITIES

Accounts payable

166,922,435

151,740,046

^[1]

Accrued liabilities

130,108,297

98,812,706

^[1]

Total current liabilities

297,030,732

250,552,752

^[1]

OTHER NON-CURRENT LIABILITIES

13,061,457

10,884,351

^[1]

Total liabilities

310,092,189

261,437,103

^[1]

SHAREHOLDERS’ INVESTMENT

Common stock

14,023,563

14,050,160

^[1]

Additional paid-in capital

928,284,890

917,499,323

^[1]

Retained earnings

1,193,171,690

1,148,386,272

^[1]

Accumulated other comprehensive loss

(12,224,497)

(14,142,934)

^[1]

Total shareholders’ investment

2,123,255,646

2,065,792,821

^[1]

Total liabilities and shareholders’ investment

$ 2,433,347,835

$ 2,327,229,924

^[1]

[1]

The condensed consolidated balance sheet at December 31, 2022 has been derived from the audited consolidated 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

Mar. 31, 2023

Mar. 31, 2022

Income Statement [Abstract]

NET SALES

$ 550,761,311

$ 468,250,776

COST OF GOODS SOLD

376,024,080

307,838,816

Gross profit

174,737,231

160,411,960

OPERATING EXPENSES:

Engineering, research and development

34,653,747

31,974,987

Selling, general & administrative

26,832,837

25,131,068

Total operating expenses

61,486,584

57,106,055

Income from operations

113,250,647

103,305,905

OTHER INCOME (LOSS)

Investment income

2,939,195

788,316

Other loss, net

(194,740)

(798,810)

Total other income (loss)

2,744,455

(10,494)

INCOME BEFORE PROVISION FOR INCOME TAXES

115,995,102

103,295,411

PROVISION FOR INCOME TAXES

18,416,841

15,766,785

NET INCOME

$ 97,578,261

$ 87,528,626

EARNINGS PER SHARE:

Basic (in dollars per share)

^[1]

$ 0.42

$ 0.37

Diluted (in dollars per share)

^[1]

0.42

0.37

Cash Dividends Declared per Share (in dollars per share)

$ 0.120

[1]	(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.

Unaudited Condensed Consolidated Statements of Comprehensive Income - USD ($)	3 Months Ended
	Mar. 31, 2023	Mar. 31, 2022
Statement of Comprehensive Income [Abstract]
Net income	$ 97,578,261	$ 87,528,626
Other comprehensive income (loss) before tax:
Foreign currency translation adjustments	(121,167)	(896,420)
Unrealized gains (losses) on debt securities, net	2,581,777	(7,795,230)
Other comprehensive income (loss), before tax	2,460,610	(8,691,650)
Income tax impact related to components of other comprehensive income (loss)	542,173	(1,636,998)
Other comprehensive income (loss), net of tax	1,918,437	(7,054,652)
Comprehensive income	$ 99,496,698	$ 80,473,974

- Definition

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

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 942
-SubTopic 220
-Section S99
-Paragraph 1
-Subparagraph (SX 210.9-04(22))
-URI https://asc.fasb.org/extlink&oid=120399700&loc=SL114874048-224260

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 32
-Subparagraph (f)
-URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e8933-108599

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 250
-SubTopic 10
-Section 50
-Paragraph 4
-URI https://asc.fasb.org/extlink&oid=124431687&loc=d3e22595-107794

Reference 4: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 944
-SubTopic 220
-Section S99
-Paragraph 1
-Subparagraph (SX 210.7-04(18))
-URI https://asc.fasb.org/extlink&oid=120400993&loc=SL114874131-224263

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 815
-SubTopic 40
-Section 65
-Paragraph 1
-Subparagraph (f)
-URI https://asc.fasb.org/extlink&oid=126732423&loc=SL123482106-238011

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 220
-SubTopic 10
-Section 50
-Paragraph 6
-URI https://asc.fasb.org/extlink&oid=124431353&loc=SL124452729-227067

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 470
-SubTopic 10
-Section S99
-Paragraph 1B
-Subparagraph (SX 210.13-02(a)(5))
-URI https://asc.fasb.org/extlink&oid=126975872&loc=SL124442552-122756

Reference 8: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 220
-SubTopic 10
-Section S99
-Paragraph 2
-Subparagraph (SX 210.5-03(20))
-URI https://asc.fasb.org/extlink&oid=126953954&loc=SL114868664-224227

Reference 9: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 230
-SubTopic 10
-Section 45
-Paragraph 28
-URI https://asc.fasb.org/extlink&oid=126954810&loc=d3e3602-108585

Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 250
-SubTopic 10
-Section 50
-Paragraph 1
-Subparagraph (b)(2)
-URI https://asc.fasb.org/extlink&oid=124431687&loc=d3e22499-107794

Reference 11: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 470
-SubTopic 10
-Section S99
-Paragraph 1A
-Subparagraph (SX 210.13-01(a)(4)(iv))
-URI https://asc.fasb.org/extlink&oid=126975872&loc=SL124442526-122756

Reference 12: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 470
-SubTopic 10
-Section S99
-Paragraph 1A
-Subparagraph (SX 210.13-01(a)(4)(iii)(A))
-URI https://asc.fasb.org/extlink&oid=126975872&loc=SL124442526-122756

Reference 13: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 470
-SubTopic 10
-Section S99
-Paragraph 1B
-Subparagraph (SX 210.13-02(a)(4)(i))
-URI https://asc.fasb.org/extlink&oid=126975872&loc=SL124442552-122756

Reference 14: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 470
-SubTopic 10
-Section S99
-Paragraph 1A
-Subparagraph (SX 210.13-01(a)(4)(i))
-URI https://asc.fasb.org/extlink&oid=126975872&loc=SL124442526-122756

Reference 15: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 250
-SubTopic 10
-Section 50
-Paragraph 9
-URI https://asc.fasb.org/extlink&oid=124431687&loc=d3e22663-107794

Reference 16: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 470
-SubTopic 10
-Section S99
-Paragraph 1B
-Subparagraph (SX 210.13-02(a)(4)(iv))
-URI https://asc.fasb.org/extlink&oid=126975872&loc=SL124442552-122756

Reference 17: http://www.xbrl.org/2009/role/commonPracticeRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 470
-SubTopic 10
-Section S99
-Paragraph 1A
-Subparagraph (SX 210.13-01(a)(4)(ii))
-URI https://asc.fasb.org/extlink&oid=126975872&loc=SL124442526-122756

Reference 18: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 825
-SubTopic 10
-Section 50
-Paragraph 28
-Subparagraph (f)
-URI https://asc.fasb.org/extlink&oid=123596393&loc=d3e14064-108612

Reference 19: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 250
-SubTopic 10
-Section 50
-Paragraph 3
-URI https://asc.fasb.org/extlink&oid=124431687&loc=d3e22583-107794

Reference 20: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 235
-SubTopic 10
-Section S99
-Paragraph 1
-Subparagraph (SX 210.4-08(g)(1)(ii))
-URI https://asc.fasb.org/extlink&oid=120395691&loc=d3e23780-122690

Reference 21: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 260
-SubTopic 10
-Section 45
-Paragraph 60B
-Subparagraph (a)
-URI https://asc.fasb.org/extlink&oid=126958026&loc=SL5780133-109256

Reference 22: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 323
-SubTopic 10
-Section 50
-Paragraph 3
-Subparagraph (c)
-URI https://asc.fasb.org/extlink&oid=114001798&loc=d3e33918-111571

Reference 23: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 250
-SubTopic 10
-Section 50
-Paragraph 8
-URI https://asc.fasb.org/extlink&oid=124431687&loc=d3e22658-107794

Reference 24: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 220
-SubTopic 10
-Section 45
-Paragraph 1A
-Subparagraph (a)
-URI https://asc.fasb.org/extlink&oid=126968391&loc=SL7669619-108580

Reference 25: http://www.xbrl.org/2003/role/exampleRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 31
-URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e8924-108599

Reference 26: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 250
-SubTopic 10
-Section 50
-Paragraph 11
-Subparagraph (b)
-URI https://asc.fasb.org/extlink&oid=124431687&loc=d3e22694-107794

Reference 27: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 250
-SubTopic 10
-Section 50
-Paragraph 11
-Subparagraph (a)
-URI https://asc.fasb.org/extlink&oid=124431687&loc=d3e22694-107794

Reference 28: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 205
-SubTopic 20
-Section 50
-Paragraph 7
-URI https://asc.fasb.org/extlink&oid=109222650&loc=SL51721683-107760

Reference 29: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 220
-SubTopic 10
-Section 45
-Paragraph 1B
-Subparagraph (a)
-URI https://asc.fasb.org/extlink&oid=126968391&loc=SL7669625-108580

Reference 30: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 22
-URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e8736-108599

Reference 31: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 470
-SubTopic 10
-Section S99
-Paragraph 1A
-Subparagraph (SX 210.13-01(a)(5))
-URI https://asc.fasb.org/extlink&oid=126975872&loc=SL124442526-122756

Reference 32: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 470
-SubTopic 10
-Section S99
-Paragraph 1B
-Subparagraph (SX 210.13-02(a)(4)(iii)(B))
-URI https://asc.fasb.org/extlink&oid=126975872&loc=SL124442552-122756

Reference 33: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 470
-SubTopic 10
-Section S99
-Paragraph 1B
-Subparagraph (SX 210.13-02(a)(4)(iii)(A))
-URI https://asc.fasb.org/extlink&oid=126975872&loc=SL124442552-122756

Reference 34: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 30
-Subparagraph (b)
-URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e8906-108599

Reference 35: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 32
-Subparagraph (c)
-URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e8933-108599

+ Details

- Definition

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

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 740
-SubTopic 20
-Section 45
-Paragraph 11
-Subparagraph (b)
-URI https://asc.fasb.org/extlink&oid=123586238&loc=d3e39076-109324

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 830
-SubTopic 30
-Section 45
-Paragraph 17
-URI https://asc.fasb.org/extlink&oid=118261656&loc=d3e32136-110900

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 830
-SubTopic 30
-Section 45
-Paragraph 20
-Subparagraph (c)
-URI https://asc.fasb.org/extlink&oid=118261656&loc=d3e32211-110900

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 740
-SubTopic 20
-Section 45
-Paragraph 2
-Subparagraph (d)
-URI https://asc.fasb.org/extlink&oid=123586238&loc=d3e38679-109324

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 220
-SubTopic 10
-Section 50
-Paragraph 4
-URI https://asc.fasb.org/extlink&oid=124431353&loc=SL124442407-227067

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 942
-SubTopic 220
-Section S99
-Paragraph 1
-Subparagraph (SX 210.9-04(23))
-URI https://asc.fasb.org/extlink&oid=120399700&loc=SL114874048-224260

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 220
-SubTopic 10
-Section S99
-Paragraph 2
-Subparagraph (SX 210.5-03(21))
-URI https://asc.fasb.org/extlink&oid=126953954&loc=SL114868664-224227

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 740
-SubTopic 10
-Section 50
-Paragraph 10
-URI https://asc.fasb.org/extlink&oid=121826272&loc=d3e32672-109319

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 830
-SubTopic 30
-Section 50
-Paragraph 1
-URI https://asc.fasb.org/extlink&oid=6450520&loc=d3e32583-110901

Reference 10: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 220
-SubTopic 10
-Section 45
-Paragraph 12
-URI https://asc.fasb.org/extlink&oid=126968391&loc=d3e640-108580

Reference 11: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 944
-SubTopic 220
-Section S99
-Paragraph 1
-Subparagraph (SX 210.7-04(19))
-URI https://asc.fasb.org/extlink&oid=120400993&loc=SL114874131-224263

+ Details

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

3 Months Ended

Mar. 31, 2023

Mar. 31, 2022

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

Balance at beginning of period

$ 2,065,792,821

^[1]

$ 1,937,988,467

Issuance of common stock from stock plan transactions

$ 5,956,022

3,324,147

Repurchases of common stock (in shares)

(1,000,000)

Repurchases of common stock

$ (28,462,632)

(71,252,022)

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

8,519,535

6,788,337

Dividends declared

(28,046,798)

(28,354,003)

Net income

97,578,261

87,528,626

Other comprehensive (loss) income

1,918,437

(7,054,652)

Balance at end of period

$ 2,123,255,646

$ 1,928,968,900

Common Stock

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

Beginning balance (in shares)

234,169,335

236,440,840

Balance at beginning of period

$ 14,050,160

$ 14,186,450

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

603,636

476,688

Issuance of common stock from stock plan transactions

$ 36,218

$ 28,601

Repurchases of common stock (in shares)

(1,046,926)

(2,440,190)

Repurchases of common stock

$ (62,815)

$ (146,411)

Ending balance (in shares)

233,726,045

234,477,338

Balance at end of period

$ 14,023,563

$ 14,068,640

Additional Paid-In Capital

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

Balance at beginning of period

917,499,323

879,413,385

Issuance of common stock from stock plan transactions

5,919,804

3,295,546

Repurchases of common stock

(3,653,772)

(8,125,830)

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

8,519,535

6,788,337

Balance at end of period

928,284,890

881,371,438

Retained Earnings

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

Balance at beginning of period

1,148,386,272

1,042,461,388

Repurchases of common stock

(24,746,045)

(62,979,781)

Dividends declared

(28,046,798)

(28,354,003)

Net income

97,578,261

87,528,626

Balance at end of period

1,193,171,690

1,038,656,230

Accumulated Other Comprehensive Loss

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

Balance at beginning of period

(14,142,934)

1,927,244

Other comprehensive (loss) income

1,918,437

(7,054,652)

Balance at end of period

$ (12,224,497)

$ (5,127,408)

[1]

Unaudited Condensed Consolidated Statements of Shareholders' Investment (Parenthetical) - $ / shares	3 Months Ended
	Mar. 31, 2023	Mar. 31, 2022
Statement of Stockholders' Equity [Abstract]
Dividends declared (in dollars per share)	$ 0.120	$ 0.120

Unaudited Condensed Consolidated Statements of Cash Flows - USD ($)	3 Months Ended
	Mar. 31, 2023	Mar. 31, 2022
CASH FLOWS FROM OPERATING ACTIVITIES:
Net income	$ 97,578,261	$ 87,528,626
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation and amortization	24,041,648	24,711,500
(Gain) on disposal of assets	(106,743)	(33,982)
Loss on disposal of assets	41,843	11,067
(Gain) on sale of investments and equity method investment income	(1,199,707)	(367,879)
Loss on sale of investments and equity method investment losses	1,671,583	704,214
Change in deferred income taxes	141,959	0
Stock-based compensation expense related to employee stock options, employee stock purchases and restricted stock	8,519,535	6,788,337
Change in operating assets and liabilities:
Accounts receivable, net	(56,373,376)	(31,666,772)
Inventories	2,590,294	(46,469,079)
Prepaid expenses and other	(629,502)	16,082,077
Accounts payable	11,112,425	42,968,193
Accrued liabilities, excluding dividends declared	33,525,890	15,702,241
Net cash provided by operating activities	120,914,110	115,958,543
Activity in available-for-sale securities:
Sales proceeds	3,128,110	37,158,611
Maturities and calls	1,465,000	1,000,000
Purchases	(32,178,155)	(15,889,063)
Plant and equipment additions	(42,819,075)	(23,892,169)
Proceeds from sale of plant and equipment	118,410	33,740
Increase in other assets	(2,110,935)	(455,419)
Net cash used for investing activities	(72,396,645)	(2,044,300)
CASH FLOWS USED FOR FINANCING ACTIVITIES:
Issuance of common stock from stock plan transactions	5,956,022	3,324,147
Cash dividends paid	(28,099,993)	(28,589,625)
Repurchases of common stock	(25,675,972)	(71,252,022)
Net cash used for financing activities	(47,819,943)	(96,517,500)
NET INCREASE IN CASH AND CASH EQUIVALENTS	697,522	17,396,743
CASH, CASH EQUIVALENTS, and RESTRICTED CASH, beginning of period	218,754,638	262,311,670
CASH, CASH EQUIVALENTS, and RESTRICTED CASH, end of period	$ 219,452,160	$ 279,708,413

Basis of Presentation	3 Months Ended
Basis of Presentation	Mar. 31, 2023
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 2022 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 March 31, 2023, and the results of operations and cash flows for the interim periods presented.

Goodwill and Other Intangible Assets

3 Months Ended

Mar. 31, 2023

Goodwill and Intangible Assets Disclosure [Abstract]

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; $3.7 million as part of the acquisition of Vaporsens, Inc. ("Vaporsens") in the second quarter of 2020; $0.2 million as part of the acquisition of Air-Craftglass Production BV ("Air-Craftglass") in the third quarter of 2020; $1.0 million as a part of the acquisition of Argil, Inc. ("Argil") in the fourth quarter of 2020; and $2.0 million as part of the acquisition of Guardian Optical Technologies ("Guardian") in the first quarter of 2021. The carrying value of Goodwill as of both March 31, 2023 and December 31, 2022 was $313.7 million and $313.8 million, respectively, as set forth in the table below:


	Carrying Amount
Balance as of December 31, 2022	$	313,807,494
Acquisitions	—
Divestitures	—
Impairments	—
Other	(121,468)
Balance as of March 31, 2023	$	313,686,026

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 component shortages, supply chain constraints, inflation, and labor shortages were again considered in the most recently completed quarter, but did not indicate the need for interim impairment testing.

The Company also acquired In-Process Research & Development ("In-Process R & D") as part of the acquisitions of: Vaporsens; Air-Craftglass; Argil; and Guardian, each of which has been previously disclosed.

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

As of March 31, 2023:


Other Intangible Assets	Gross		Accumulated Amortization		Net		Assumed Useful Life
Gentex Patents	$	40,619,268	$	(28,072,946)	$	12,546,322	Various

Other Intangible Assets
HomeLink® Trade Names and Trademarks	$	52,000,000	$	—	$	52,000,000	Indefinite
HomeLink® Technology	180,000,000		(142,500,000)		37,500,000		12 years
Existing Customer Platforms	43,000,000		(40,850,000)		2,150,000		10 years
Exclusive Licensing Agreement	96,000,000		—		96,000,000		Indefinite
Vaporsens In-Process R&D	11,000,000		—		11,000,000		Indefinite
Argil In-Process R&D	6,278,132		—		6,278,132		Indefinite
Air-Craftglass In-Process R&D	1,507,778		—		1,507,778		Indefinite
Guardian Trade Names	1,300,000		—		1,300,000		Indefinite
Guardian In-Process R&D	6,800,000		—		6,800,000		Indefinite
Total Other Intangible Assets	$	397,885,910	$	(183,350,000)	$	214,535,910

Total Patents & Other Intangible Assets	$	438,505,178	$	(211,422,946)	$	227,082,232

As of December 31, 2022:


Other Intangible Assets	Gross		Accumulated Amortization		Net		Assumed Useful Life
Gentex Patents	$	40,653,851	$	(27,820,383)	$	12,833,468	Various

Other Intangible Assets
HomeLink® Trade Names and Trademarks	$	52,000,000	$	—	$	52,000,000	Indefinite
HomeLink® Technology	180,000,000		(138,750,000)		41,250,000		12 years
Existing Customer Platforms	43,000,000		(39,775,000)		3,225,000		10 years
Exclusive Licensing Agreement	96,000,000		—		96,000,000		Indefinite
Vaporsens In-Process R&D	11,000,000		—		11,000,000		Indefinite
Argil In-Process R&D	6,278,132		—		6,278,132		Indefinite
Air-Craftglass In-Process R&D	1,507,778		—		1,507,778		Indefinite
Guardian Trade Names	1,300,000		—		1,300,000		Indefinite
Guardian In-Process R&D	6,800,000		—		6,800,000		Indefinite
Total Other Intangible Assets	$	397,885,910	$	(178,525,000)	$	219,360,910

Total Patents & Other Intangible Assets	$	438,539,761	$	(206,345,383)	$	232,194,378

Amortization expense on patents and intangible assets was approximately $5.3 million during the three months ended March 31, 2023, and approximately $5.5 million for the same period ended March 31, 2022.

Excluding the impact of any future acquisitions, the Company estimates amortization expense for the year ending December 31, 2023 to be approximately $20 million, for the year ending December 31, 2024 to be approximately $16 million, for the year ending December 31, 2025 to be approximately $12 million, and for each of the years ending December 31, 2026 and December 31, 2027 to be approximately $5 million.

Investments

3 Months Ended

Mar. 31, 2023

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 323, Investments - Equity Method and Joint Ventures. The Company's share of the earnings or losses of non-controlled affiliates, over which the Company exercises significant influence (generally a 20% to 50% ownership interest), is included in the consolidated operating results using the equity method of accounting. These investments are classified within Equity Method Investments in the condensed consolidated balance sheets. The Company has also made technology investments in certain non-consolidated affiliates for ownership interests of less than 20% (where the Company does not have the ability to exercise significant influence). These equity investments are accounted for in accordance with ASC 321, Investments - Equity Securities. For these 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, the equity investments are held at cost.

Such technology investments totaled approximately $86.9 million and $69.5 million as of March 31, 2023 and December 31, 2022, respectively. On March 9, 2023, the Company purchased a 15% equity investment in Adasky, LTD. for $21.5 million. Adasky is an Israeli-based leading developer and manufacturer of intelligent thermal sensing technologies. $2.2 million and $3.8 million of these technology investments are classified within Short-Term Investments in the condensed consolidated balance sheets as of March 31, 2023 and December 31, 2022, respectively. $84.7 million and $65.7 million of these investments are classified within Long-Term Investments in the condensed consolidated balance sheets as of March 31, 2023 and December 31, 2022, respectively.

Assets or liabilities that have recurring fair value measurements are shown below as of March 31, 2023 and December 31, 2022:

As of March 31, 2023:


			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	March 31, 2023		(Level 1)		(Level 2)		(Level 3)
Cash & Cash Equivalents	$	215,452,160	$	215,452,160	$	—	$	—
Restricted Cash	4,000,000		4,000,000		—		—
Short-Term Investments:
Certificate of Deposit	1,741,295		1,741,295		—		—
Corporate Bonds	5,495,110		—		5,495,110		—
Government Securities	6,155,223		—		6,155,223		—
Municipal Bonds	3,963,985		—		3,963,985		—
Other	4,474,175		1,007,150		3,467,025		—
Long-Term Investments:
Asset Backed Securities	18,718,258		—		18,718,258		—
Certificate of Deposit	239,107		239,107		—		—
Corporate Bonds	37,242,499		—		37,242,499		—
Government Securities	36,922,649		—		36,922,649		—
Municipal Bonds	50,870,849		—		50,870,849		—

Common Stock	720,910		720,910		—		—
Total	$	385,996,220	$	223,160,622	$	162,835,598	$	—

As of December 31, 2022:


			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	$	214,754,638	$	214,754,638	$	—	$	—
Restricted Cash	4,000,000		4,000,000		—		—
Short-Term Investments:
Certificate of Deposit	1,736,163		1,736,163		—		—
Corporate Bonds	5,473,341		—		5,473,341		—
Government Securities	4,423,041		—		4,423,041		—
Municipal Bonds	5,174,773		—		5,174,773		—
Other	2,347,602		1,093,602		1,254,000		—
Long-Term Investments:
Asset-backed Securities	18,829,696		—		18,829,696		—
Certificate of Deposit	238,925		238,925		—		—
Corporate Bonds	36,310,477		—		36,310,477		—
Governmental Securities	36,532,634		—		36,532,634		—
Municipal Bonds	48,430,166		—		48,430,166
Common Stock	293,300		293,300		—		—
Total	$	378,544,756	$	222,116,628	$	156,428,128	$	—

The amortized cost, unrealized gains and losses, and market value of investment securities are shown as of March 31, 2023 and December 31, 2022:

As of March 31, 2023:


			Unrealized
	Cost		Gains		Losses		Market Value
Short-Term Investments:
Certificate of Deposit	$	1,750,000	$	93	$	(8,798)	$	1,741,295
Corporate Bonds	5,542,607		—		(47,497)		5,495,110
Government Securities	6,190,793		2,058		(37,628)		6,155,223
Municipal Bonds	3,998,537		—		(34,552)		3,963,985
Other	4,474,175		—		—		4,474,175
Long-Term Investments:
Asset Backed Securities	18,852,424		—		(134,166)		18,718,258
Certificate of Deposit	250,000		—		(10,893)		239,107
Corporate Bonds	40,819,361		20,678		(3,597,540)		37,242,499
Government Securities	39,525,976		—		(2,603,327)		36,922,649
Municipal Bonds	54,635,848		314,881		(4,079,880)		50,870,849
Common Stock	720,911		—		—		720,911
Total	$	176,760,632	$	337,710	$	(10,554,281)	$	166,544,061

As of December 31, 2022:


			Unrealized
	Cost		Gains		Losses		Market Value
Short-Term Investments:
Certificate of Deposit	$	1,750,256	$	—	$	(14,093)	$	1,736,163
Corporate Bonds	5,571,417		—		(98,076)		5,473,341
Government Securities	4,476,613		—		(53,572)		4,423,041
Municipal Bonds	5,223,500		—		(48,727)		5,174,773
Other	2,347,602		—		—		2,347,602
Long-Term Investments:
Asset-backed Securities	19,151,229		—		(321,533)		18,829,696
Certificate of Deposit	250,000		—		(11,075)		238,925
Corporate Bonds	40,410,206		—		(4,099,729)		36,310,477
Government Securities	39,637,461		—		(3,104,827)		36,532,634
Municipal Bonds	53,476,883		235,713		(5,282,430)		48,430,166
Common Stock	292,638		662		—		293,300
Total	$	172,587,805	$	236,375	$	(13,034,062)	$	159,790,118

Unrealized losses on investments as of March 31, 2023, are as follows:


	Aggregate Unrealized Losses		Aggregate Fair Value of Investments
Loss duration of less than one year	$	321,165	$	23,213,314
Loss duration of greater than one year	10,233,116		130,046,373
Total	$	10,554,281	$	153,259,687

Unrealized losses on investments as of December 31, 2022, are as follows:


	Aggregate Unrealized Losses		Aggregate Fair Value of Investments
Loss duration of less than one year	$	4,816,103	$	77,701,146
Loss duration of greater than one year	8,217,959		76,643,586
Total	$	13,034,062	$	154,344,732

Effective January 1, 2020, the Company adopted 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 any amortized cost basis has been recovered.

Fixed income securities as of March 31, 2023 have contractual maturities as follows:


Due within one year	$	17,355,612
Due between one and five years	93,840,749
Due over five years	50,152,613
	$	161,348,974

- Definition

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.

+ References + Details

Inventories

3 Months Ended

Mar. 31, 2023

Inventory Disclosure [Abstract]

Inventories

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


	March 31, 2023		December 31, 2022
Raw materials	$	301,876,129	$	304,184,004
Work-in-process	44,534,016		45,512,275
Finished goods	55,359,831		54,663,991
Total Inventory	$	401,769,976	$	404,360,270

Earnings Per Share

3 Months Ended

Mar. 31, 2023

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 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 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 per common share under the

two-class method for the three months ended March 31, 2023 and March 31, 2022:


	Three Months Ended March 31,
		2023		2022
Basic Earnings Per Share
Net Income		$	97,578,261	$	87,528,626
Less: Dividends and undistributed earnings allocated to participating securities		1,456,913		1,360,047
Net Income available to common shareholders		$	96,121,348	$	86,168,579

Basic weighted average shares outstanding		230,605,626		232,151,296
Net Income per share - Basic		$	0.42	$	0.37

Diluted Earnings Per Share
Allocation of Net Income used in basic computation		$	96,121,348	$	86,168,579
Reallocation of undistributed earnings		1,276		2,500
Net Income available to common shareholders - Diluted		$	96,122,624	$	86,171,079

Number of shares used in basic computation		230,605,626		232,151,296
Additional weighted average dilutive common stock equivalents		290,220		638,515
Diluted weighted average shares outstanding		230,895,846		232,789,811

Net Income per share - Diluted		$	0.42	$	0.37

Shares related to stock plans not included in diluted average common shares outstanding because their effect would be anti-dilutive		1,810,685		1,572,223

Stock-Based Compensation Plans

3 Months Ended

Mar. 31, 2023

Share-Based Payment Arrangement [Abstract]

Stock-Based Compensation Plans

As of March 31, 2023, 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 awards and 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 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, 2022, for additional information related to the Prior Plans.

The Company recognized total compensation expense for share-based payments of $8,519,535 for the three months ended March 31, 2023. The Company recognized compensation expense for share-based

payments of $6,788,337 for the three months ended March 31, 2022. A portion of the compensation cost for share based payment awards is capitalized as part of inventory.

2019 Omnibus Incentive Plan

The purpose of the 2019 Omnibus 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. Pursuant to the terms of the 2019 Omnibus Plan, each type of award counts against the available shares based on a predetermined conversion rate (shown in the table below). As of March 31, 2023, 8,991,744 share awards have been made under the Plan, resulting in 22,671,217 shares granted of the 45,000,000 total shares available to be issued under the Plan. The shares issued are presented net of shares from canceled/expired options and shares.


	Shares Granted	Conversion Rate	Total Shares Under 2019 Omnibus Plan
Non-Qualified Stock Options	4,521,328	1.00	4,521,328
Restricted Stock	3,609,000	4.06	14,652,540
Performance Shares	861,416	4.06	3,497,349
Total	8,991,744		22,671,217

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 March 31, 2023, there was $8,754,103 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 March 31,
		2023		2022
Dividend Yield (1)		1.76	%	1.80	%
Expected volatility (2)		29.04	%	28.16	%
Risk-free interest rate (3)		3.60	%	2.42	%
Expected term of options (years) (4)		4.15		4.15
Weighted-avg. grant date fair value		$6.84		$6.38

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 March 31, 2023, the Company had unearned stock-based compensation of $45,419,558 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. Compensation expense from

restricted stock grants in the three months ended March 31, 2023 was $5,946,054. Compensation expense from restricted stock grants in the three months ended March 31, 2022 was $5,290,805.

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 average closing stock price on the twenty days preceding 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 March 31, 2023, the Company had unearned stock-based compensation of $19,418,307 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.

Employee Stock Purchase Plan

Prior to July 1, 2022, the Company had in place an employee stock purchase plan covering 2,000,000 shares of common stock. Under that plan, the Company sold shares at 85% of the stock’s market price at date of purchase. Under ASC 718, Compensation - Stock Compensation, the 15% discounted value was recognized as compensation expense. As of March 31, 2023, the Company has issued 1,624,122 shares under this prior plan.

In May 2022, the 2022 Gentex Corporation Employee Stock Purchase Plan covering 2,000,000 shares of common stock was approved by shareholders replacing the above referenced prior plan effective July 1, 2022. Under the plan, the Company sells shares at 85% of the stock's market price at date of purchase. Under ASC 718, the 15% discounted value is recognized as compensation expense. As of March 31, 2023, the Company has issued 156,103 shares under this plan.

Comprehensive Income (Loss)

3 Months Ended

Mar. 31, 2023

Equity [Abstract]

Comprehensive Income (Loss)

Comprehensive Income (Loss)Comprehensive income (loss) 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 and foreign currency translation adjustments.

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


	Three Months Ended March 31,
		2023		2022
Foreign currency translation adjustments:
Balance at beginning of period		$	(4,032,239)	$	920,589
Other Comprehensive loss before reclassifications		(121,167)		(896,420)

Net current-period change		(121,167)		(896,420)
Balance at end of period		(4,153,406)		24,169

Unrealized (losses) gains on available-for-sale debt securities:
Balance at beginning of period		(10,110,695)		1,006,655
Other Comprehensive income (loss) before reclassifications		277,718		(6,423,937)
Amounts reclassified from accumulated other comprehensive income		1,761,886		265,705
Net current-period change		2,039,604		(6,158,232)
Balance at end of period		(8,071,091)		(5,151,577)







Accumulated other comprehensive loss, end of period		$	(12,224,497)	$	(5,127,408)

The following table presents details of reclassifications out of accumulated other comprehensive loss for the three months ended March 31, 2023 and 2022:


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 March 31,
		2023		2022
Unrealized (losses) gains on available-for-sale debt securities
Realized loss on sale of securities		$	(2,230,236)	$	(336,335)	Investment income
Provision for income taxes		468,350		70,630		Provision for income taxes
Total net reclassifications for the period		$	(1,761,886)	$	(265,705)

Debt and Financing Arrangements	3 Months Ended
Debt and Financing Arrangements	Mar. 31, 2023
Debt Disclosure [Abstract]
Debt and Financing Arrangements	Debt and Financing Arrangements On October 15, 2018, the Company entered into a credit agreement with PNC as the administrative agent and sole lender, which has now been amended and restated as discussed below. On February 21, 2023, as previously disclosed, the Company entered into an amended and restated credit agreement ("Credit Agreement") that provided for, among other things, a three-year unsecured revolving credit facility with a borrowing capacity of up to $250.0 million ("Revolver") that matures on February 21, 2026, replacing in its entirety the Company's above referenced prior $150.0 million revolving credit facility scheduled to mature on October 15, 2023. Included in the Revolver is a $20.0 million sublimit for standby letters of credit and a $35.0 million sublimit for swingline loans, each subject to certain conditions. Funds are available under the Revolver for working capital, capital expenditures, and other lawful corporate purposes, including, but not limited to, acquisitions and common stock repurchases, subject in each case to compliance with certain financial covenants, as defined in the Credit Agreement. As of March 31, 2023, there was no outstanding balance on the Revolver. The Credit Agreement contains customary representations and warranties and certain covenants that place certain limitations on the Company. As of March 31, 2023, the Company is in compliance with its covenants under the Credit Agreement.

- Definition

The entire disclosure for information about short-term and long-term debt arrangements, which includes amounts of borrowings under each line of credit, note payable, commercial paper issue, bonds indenture, debenture issue, own-share lending arrangements and any other contractual agreement to repay funds, and about the underlying arrangements, rationale for a classification as long-term, including repayment terms, interest rates, collateral provided, restrictions on use of assets and activities, whether or not in compliance with debt covenants, and other matters important to users of the financial statements, such as the effects of refinancing and noncompliance with debt covenants.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 470
-URI https://asc.fasb.org/topic&trid=2208564

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 470
-SubTopic 20
-Section 50
-Paragraph 1B
-Subparagraph (h)
-URI https://asc.fasb.org/extlink&oid=123466505&loc=SL123495323-112611

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 470
-SubTopic 20
-Section 50
-Paragraph 1C
-Subparagraph (c)
-URI https://asc.fasb.org/extlink&oid=123466505&loc=SL123495334-112611

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 470
-SubTopic 20
-Section 50
-Paragraph 1I
-Subparagraph (a)
-URI https://asc.fasb.org/extlink&oid=123466505&loc=SL123495371-112611

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 470
-SubTopic 20
-Section 50
-Paragraph 1I
-Subparagraph (d)
-URI https://asc.fasb.org/extlink&oid=123466505&loc=SL123495371-112611

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 235
-SubTopic 10
-Section S99
-Paragraph 1
-Subparagraph (SX 210.4-08(c))
-URI https://asc.fasb.org/extlink&oid=120395691&loc=d3e23780-122690

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 470
-SubTopic 20
-Section 50
-Paragraph 1B
-Subparagraph (g)
-URI https://asc.fasb.org/extlink&oid=123466505&loc=SL123495323-112611

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 470
-SubTopic 20
-Section 50
-Paragraph 1C
-Subparagraph (b)
-URI https://asc.fasb.org/extlink&oid=123466505&loc=SL123495334-112611

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 470
-SubTopic 20
-Section 50
-Paragraph 1C
-Subparagraph (a)
-URI https://asc.fasb.org/extlink&oid=123466505&loc=SL123495334-112611

Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 470
-SubTopic 20
-Section 50
-Paragraph 1E
-Subparagraph (b)
-URI https://asc.fasb.org/extlink&oid=123466505&loc=SL123495348-112611

Reference 11: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 470
-SubTopic 20
-Section 50
-Paragraph 1B
-URI https://asc.fasb.org/extlink&oid=123466505&loc=SL123495323-112611

Reference 12: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 470
-SubTopic 20
-Section 50
-Paragraph 1I
-Subparagraph (b)
-URI https://asc.fasb.org/extlink&oid=123466505&loc=SL123495371-112611

Reference 13: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 470
-SubTopic 20
-Section 50
-Paragraph 1B
-Subparagraph (i)
-URI https://asc.fasb.org/extlink&oid=123466505&loc=SL123495323-112611

+ Details

Equity	3 Months Ended
Equity	Mar. 31, 2023
Equity [Abstract]
Equity	Equity The decrease in common stock during the three months ended March 31, 2023, was primarily due to the repurchases of 1.0 million shares, partially offset by the issuance of 0.6 million shares of the Company’s common stock, net of cancellations, under the Company’s stock-based compensation plans. The total net decrease was 0.4 million shares. The Company recorded a cash dividend of $0.120 per share during the first quarter of 2023 as compared to a cash dividend of $0.120 per share during the first quarter of 2022. The first quarter 2023 dividend of $28.0 million was declared on February 28, 2023 and was paid on April 19, 2023.

- Definition

The entire disclosure for shareholders' equity comprised of portions attributable to the parent entity and noncontrolling interest, including other comprehensive income. Includes, but is not limited to, balances of common stock, preferred stock, additional paid-in capital, other capital and retained earnings, accumulated balance for each classification of other comprehensive income and amount of comprehensive income.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 505
-URI https://asc.fasb.org/topic&trid=2208762

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 505
-SubTopic 10
-Section 50
-Paragraph 13
-Subparagraph (b)
-URI https://asc.fasb.org/extlink&oid=126973232&loc=SL123496158-112644

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 505
-SubTopic 10
-Section 50
-Paragraph 13
-URI https://asc.fasb.org/extlink&oid=126973232&loc=SL123496158-112644

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 505
-SubTopic 10
-Section 50
-Paragraph 14
-Subparagraph (c)
-URI https://asc.fasb.org/extlink&oid=126973232&loc=SL123496171-112644

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 505
-SubTopic 10
-Section 50
-Paragraph 14
-Subparagraph (b)
-URI https://asc.fasb.org/extlink&oid=126973232&loc=SL123496171-112644

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 505
-SubTopic 10
-Section S99
-Paragraph 1
-Subparagraph (SX 210.3-04)
-URI https://asc.fasb.org/extlink&oid=120397183&loc=d3e187085-122770

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 505
-SubTopic 10
-Section 50
-Paragraph 18
-Subparagraph (d)
-URI https://asc.fasb.org/extlink&oid=126973232&loc=SL123496189-112644

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 505
-SubTopic 10
-Section 50
-Paragraph 13
-Subparagraph (g)
-URI https://asc.fasb.org/extlink&oid=126973232&loc=SL123496158-112644

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 505
-SubTopic 10
-Section 50
-Paragraph 18
-Subparagraph (a)
-URI https://asc.fasb.org/extlink&oid=126973232&loc=SL123496189-112644

Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 505
-SubTopic 10
-Section 50
-Paragraph 13
-Subparagraph (h)
-URI https://asc.fasb.org/extlink&oid=126973232&loc=SL123496158-112644

Reference 11: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 505
-SubTopic 10
-Section 50
-Paragraph 14
-Subparagraph (a)
-URI https://asc.fasb.org/extlink&oid=126973232&loc=SL123496171-112644

Reference 12: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 505
-SubTopic 10
-Section 50
-Paragraph 18
-Subparagraph (b)
-URI https://asc.fasb.org/extlink&oid=126973232&loc=SL123496189-112644

Reference 13: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 505
-SubTopic 10
-Section 50
-Paragraph 16
-Subparagraph (b)
-URI https://asc.fasb.org/extlink&oid=126973232&loc=SL123496180-112644

Reference 14: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 505
-SubTopic 10
-Section 50
-Paragraph 13
-Subparagraph (i)
-URI https://asc.fasb.org/extlink&oid=126973232&loc=SL123496158-112644

Reference 15: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 235
-SubTopic 10
-Section S99
-Paragraph 1
-Subparagraph (SX 210.4-08(e)(1))
-URI https://asc.fasb.org/extlink&oid=120395691&loc=d3e23780-122690

Reference 16: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 815
-SubTopic 40
-Section 50
-Paragraph 6
-Subparagraph (a)
-URI https://asc.fasb.org/extlink&oid=126731327&loc=SL126733271-114008

+ Details

Contingencies	3 Months Ended
Contingencies	Mar. 31, 2023
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

3 Months Ended

Mar. 31, 2023

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 and laminate products for the aerospace industry and fire protection products for the commercial construction industry. In 2020, the Company acquired Vaporsens, which specializes in nanofiber chemical sensing. These three non-automotive segments are combined into the "Other" segment as shown below.


	Three Months Ended March 31,
		2023		2022
Revenue:
Automotive Products		$	537,422,988	$	457,952,554
Other		13,338,323		10,298,222
Total		$	550,761,311	$	468,250,776
Income (Loss) from operations:
Automotive Products		$	111,439,798	$	103,475,509
Other		1,810,849		(169,604)
Total		$	113,250,647	$	103,305,905

- Definition

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.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 31
-URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e8924-108599

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 34
-URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e8981-108599

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 21
-Subparagraph (a)
-URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e8721-108599

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 40
-URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e9031-108599

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 32
-Subparagraph (f)
-URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e8933-108599

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 32
-Subparagraph (e)
-URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e8933-108599

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 26
-URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e8844-108599

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 41
-URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e9038-108599

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 32
-Subparagraph (d)
-URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e8933-108599

Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 22
-URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e8736-108599

Reference 11: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 42
-URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e9054-108599

Reference 12: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 15
-URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e8657-108599

Reference 13: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 21
-Subparagraph (b)
-URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e8721-108599

Reference 14: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-URI https://asc.fasb.org/topic&trid=2134510

+ Details

Income Taxes	3 Months Ended
Income Taxes	Mar. 31, 2023
Income Tax Disclosure [Abstract]
Income Taxes	Income TaxesThe effective tax rate was 15.9% in the three months ended March 31, 2023, compared to an effective tax rate of 15.3% for the same period in 2022. 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, the foreign-derived intangible income tax deduction, and research and development tax credits.

- Definition

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.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 740
-SubTopic 10
-Section 50
-Paragraph 21
-URI https://asc.fasb.org/extlink&oid=121826272&loc=d3e32857-109319

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 740
-SubTopic 10
-Section S99
-Paragraph 2
-Subparagraph (SAB Topic 11.C)
-URI https://asc.fasb.org/extlink&oid=122134291&loc=d3e330215-122817

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 740
-SubTopic 10
-Section 50
-Paragraph 17
-Subparagraph (b)
-URI https://asc.fasb.org/extlink&oid=121826272&loc=d3e32809-109319

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 740
-SubTopic 10
-Section S99
-Paragraph 1
-Subparagraph (SAB TOPIC 6.I.5.Q1)
-URI https://asc.fasb.org/extlink&oid=122134291&loc=d3e330036-122817

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 740
-SubTopic 10
-Section 50
-Paragraph 14
-URI https://asc.fasb.org/extlink&oid=121826272&loc=d3e32705-109319

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 740
-SubTopic 270
-Section 50
-Paragraph 1
-URI https://asc.fasb.org/extlink&oid=6424409&loc=d3e44925-109338

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 740
-URI https://asc.fasb.org/topic&trid=2144680

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 740
-SubTopic 30
-Section 50
-Paragraph 2
-Subparagraph (a)
-URI https://asc.fasb.org/extlink&oid=6424122&loc=d3e41874-109331

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 235
-SubTopic 10
-Section S99
-Paragraph 1
-Subparagraph (SX 210.4-08(h)(2))
-URI https://asc.fasb.org/extlink&oid=120395691&loc=d3e23780-122690

+ Details

Revenue

3 Months Ended

Mar. 31, 2023

Revenue from Contract with Customer [Abstract]

Revenue

The following table shows the Company’s Automotive revenue and Other Products revenue disaggregated by geographical location for Automotive Products for the three month periods ended March 31, 2023 and March 31, 2022:


	Three Months Ended March 31,
Revenue		2023		2022
Automotive Products
U.S.		$	170,781,604	$	142,193,971
Germany		80,579,465		67,565,320
Japan		72,155,984		54,762,488
Mexico		34,287,544		32,135,079
Other		179,618,391		161,295,696
Total Automotive Products		$	537,422,988	$	457,952,554
Other Products (U.S.)		13,338,323		10,298,222
Total Revenue		$	550,761,311	$	468,250,776

Revenue by geographic area may fluctuate based on many factors, including: exposure to local economic, political, and labor conditions; a pandemic; global supply chain constraints; 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 month periods ended March 31, 2023 and March 31, 2022:


	Three Months Ended March 31,
Revenue		2023		2022
Automotive Segment
Automotive Mirrors & Electronics		$	505,731,576	$	423,626,489
HomeLink Modules*		31,691,412		34,326,065
Total Automotive Products		$	537,422,988	$	457,952,554

Other Segment
Fire Protection Products		9,301,153		8,447,686
Aerospace Products		4,037,170		1,850,536
Total Other		$	13,338,323	$	10,298,222

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

- Definition

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.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
-URI https://asc.fasb.org/topic&trid=49130388

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
-SubTopic 10
-Section 50
-Paragraph 10
-URI https://asc.fasb.org/extlink&oid=126920106&loc=SL49130551-203045

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
-SubTopic 10
-Section 50
-Paragraph 13
-Subparagraph (b)(2)
-URI https://asc.fasb.org/extlink&oid=126920106&loc=SL49130556-203045

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
-SubTopic 10
-Section 50
-Paragraph 12
-Subparagraph (b)
-URI https://asc.fasb.org/extlink&oid=126920106&loc=SL49130554-203045

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
-SubTopic 10
-Section 50
-Paragraph 9
-URI https://asc.fasb.org/extlink&oid=126920106&loc=SL49130550-203045

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
-SubTopic 10
-Section 50
-Paragraph 12
-Subparagraph (e)
-URI https://asc.fasb.org/extlink&oid=126920106&loc=SL49130554-203045

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
-SubTopic 10
-Section 50
-Paragraph 12
-Subparagraph (a)
-URI https://asc.fasb.org/extlink&oid=126920106&loc=SL49130554-203045

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
-SubTopic 10
-Section 50
-Paragraph 12
-Subparagraph (d)
-URI https://asc.fasb.org/extlink&oid=126920106&loc=SL49130554-203045

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
-SubTopic 10
-Section 50
-Paragraph 15
-URI https://asc.fasb.org/extlink&oid=126920106&loc=SL49130558-203045

Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
-SubTopic 10
-Section 50
-Paragraph 12
-Subparagraph (c)
-URI https://asc.fasb.org/extlink&oid=126920106&loc=SL49130554-203045

+ Details

Leases

3 Months Ended

Mar. 31, 2023

Leases [Abstract]

Leases

The Company has operating leases for certain sales and engineering offices, as well as other vehicles and 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 March 31, 2023 was 2 years, with a weighted average discount rate of 5.8%.

Future minimum lease payments for operating leases as of March 31, 2023 were as follows:


Year ending December 31,

2023 (excluding the three months ended March 31, 2023)	$	1,291,999
2024	863,358
2025	492,746
2026	84,795
2027	978
Thereafter	—
Total future minimum lease payments	2,733,876
Less imputed interest	(87,129)
Total	$	2,646,747


Reported as of March 31, 2023

Accrued Liabilities	$	1,572,606
Other Non-Current Liabilities	1,074,141
Total	$	2,646,747

Goodwill and Other Intangible Assets (Tables)

3 Months Ended

Mar. 31, 2023

Goodwill and Intangible Assets Disclosure [Abstract]

Schedule of Goodwill

The carrying value of Goodwill as of both March 31, 2023 and December 31, 2022 was $313.7 million and $313.8 million, respectively, as set forth in the table below:


	Carrying Amount
Balance as of December 31, 2022	$	313,807,494
Acquisitions	—
Divestitures	—
Impairments	—
Other	(121,468)
Balance as of March 31, 2023	$	313,686,026

Schedule of Intangible Assets

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

As of March 31, 2023:


Other Intangible Assets	Gross		Accumulated Amortization		Net		Assumed Useful Life
Gentex Patents	$	40,619,268	$	(28,072,946)	$	12,546,322	Various

Other Intangible Assets
HomeLink® Trade Names and Trademarks	$	52,000,000	$	—	$	52,000,000	Indefinite
HomeLink® Technology	180,000,000		(142,500,000)		37,500,000		12 years
Existing Customer Platforms	43,000,000		(40,850,000)		2,150,000		10 years
Exclusive Licensing Agreement	96,000,000		—		96,000,000		Indefinite
Vaporsens In-Process R&D	11,000,000		—		11,000,000		Indefinite
Argil In-Process R&D	6,278,132		—		6,278,132		Indefinite
Air-Craftglass In-Process R&D	1,507,778		—		1,507,778		Indefinite
Guardian Trade Names	1,300,000		—		1,300,000		Indefinite
Guardian In-Process R&D	6,800,000		—		6,800,000		Indefinite
Total Other Intangible Assets	$	397,885,910	$	(183,350,000)	$	214,535,910

Total Patents & Other Intangible Assets	$	438,505,178	$	(211,422,946)	$	227,082,232

As of December 31, 2022:


Other Intangible Assets	Gross		Accumulated Amortization		Net		Assumed Useful Life
Gentex Patents	$	40,653,851	$	(27,820,383)	$	12,833,468	Various

Other Intangible Assets
HomeLink® Trade Names and Trademarks	$	52,000,000	$	—	$	52,000,000	Indefinite
HomeLink® Technology	180,000,000		(138,750,000)		41,250,000		12 years
Existing Customer Platforms	43,000,000		(39,775,000)		3,225,000		10 years
Exclusive Licensing Agreement	96,000,000		—		96,000,000		Indefinite
Vaporsens In-Process R&D	11,000,000		—		11,000,000		Indefinite
Argil In-Process R&D	6,278,132		—		6,278,132		Indefinite
Air-Craftglass In-Process R&D	1,507,778		—		1,507,778		Indefinite
Guardian Trade Names	1,300,000		—		1,300,000		Indefinite
Guardian In-Process R&D	6,800,000		—		6,800,000		Indefinite
Total Other Intangible Assets	$	397,885,910	$	(178,525,000)	$	219,360,910

Total Patents & Other Intangible Assets	$	438,539,761	$	(206,345,383)	$	232,194,378

- Definition

Tabular disclosure of goodwill by reportable segment and in total which includes a rollforward schedule.

+ References

Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 350
-SubTopic 20
-Section 50
-Paragraph 1
-Subparagraph (h)
-URI https://asc.fasb.org/extlink&oid=121556970&loc=d3e13816-109267

Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 350
-SubTopic 20
-Section 50
-Paragraph 1
-Subparagraph (c)
-URI https://asc.fasb.org/extlink&oid=121556970&loc=d3e13816-109267

Reference 3: http://www.xbrl.org/2009/role/commonPracticeRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 350
-SubTopic 20
-Section 50
-Paragraph 1
-Subparagraph (g)
-URI https://asc.fasb.org/extlink&oid=121556970&loc=d3e13816-109267

Reference 4: http://www.xbrl.org/2009/role/commonPracticeRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 350
-SubTopic 20
-Section 50
-Paragraph 1
-URI https://asc.fasb.org/extlink&oid=121556970&loc=d3e13816-109267

Reference 5: http://www.xbrl.org/2009/role/commonPracticeRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 350
-SubTopic 20
-Section 50
-Paragraph 1
-Subparagraph (e)
-URI https://asc.fasb.org/extlink&oid=121556970&loc=d3e13816-109267

Reference 6: http://www.xbrl.org/2009/role/commonPracticeRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 350
-SubTopic 20
-Section 50
-Paragraph 1
-Subparagraph (d)
-URI https://asc.fasb.org/extlink&oid=121556970&loc=d3e13816-109267

Reference 7: http://www.xbrl.org/2009/role/commonPracticeRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 350
-SubTopic 20
-Section 50
-Paragraph 1A
-URI https://asc.fasb.org/extlink&oid=121556970&loc=SL108378252-109267

Reference 8: http://www.xbrl.org/2009/role/commonPracticeRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 350
-SubTopic 20
-Section 50
-Paragraph 1
-Subparagraph (f)
-URI https://asc.fasb.org/extlink&oid=121556970&loc=d3e13816-109267

Reference 9: http://www.xbrl.org/2009/role/commonPracticeRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 350
-SubTopic 20
-Section 50
-Paragraph 1
-Subparagraph (a)
-URI https://asc.fasb.org/extlink&oid=121556970&loc=d3e13816-109267

Reference 10: http://www.xbrl.org/2009/role/commonPracticeRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 350
-SubTopic 20
-Section 50
-Paragraph 2
-Subparagraph (b)
-URI https://asc.fasb.org/extlink&oid=121556970&loc=d3e13854-109267

Reference 11: http://www.xbrl.org/2003/role/exampleRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 350
-SubTopic 20
-Section 55
-Paragraph 24
-URI https://asc.fasb.org/extlink&oid=122137925&loc=d3e14258-109268

Reference 12: http://www.xbrl.org/2009/role/commonPracticeRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 350
-SubTopic 20
-Section 50
-Paragraph 1
-Subparagraph (b)
-URI https://asc.fasb.org/extlink&oid=121556970&loc=d3e13816-109267

+ Details

Investments (Tables)

3 Months Ended

Mar. 31, 2023

Investments [Abstract]

Schedule of Investment Securities Stated at Fair Value

Assets or liabilities that have recurring fair value measurements are shown below as of March 31, 2023 and December 31, 2022:

As of March 31, 2023:


			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	March 31, 2023		(Level 1)		(Level 2)		(Level 3)
Cash & Cash Equivalents	$	215,452,160	$	215,452,160	$	—	$	—
Restricted Cash	4,000,000		4,000,000		—		—
Short-Term Investments:
Certificate of Deposit	1,741,295		1,741,295		—		—
Corporate Bonds	5,495,110		—		5,495,110		—
Government Securities	6,155,223		—		6,155,223		—
Municipal Bonds	3,963,985		—		3,963,985		—
Other	4,474,175		1,007,150		3,467,025		—
Long-Term Investments:
Asset Backed Securities	18,718,258		—		18,718,258		—
Certificate of Deposit	239,107		239,107		—		—
Corporate Bonds	37,242,499		—		37,242,499		—
Government Securities	36,922,649		—		36,922,649		—
Municipal Bonds	50,870,849		—		50,870,849		—

Common Stock	720,910		720,910		—		—
Total	$	385,996,220	$	223,160,622	$	162,835,598	$	—

As of December 31, 2022:


			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	$	214,754,638	$	214,754,638	$	—	$	—
Restricted Cash	4,000,000		4,000,000		—		—
Short-Term Investments:
Certificate of Deposit	1,736,163		1,736,163		—		—
Corporate Bonds	5,473,341		—		5,473,341		—
Government Securities	4,423,041		—		4,423,041		—
Municipal Bonds	5,174,773		—		5,174,773		—
Other	2,347,602		1,093,602		1,254,000		—
Long-Term Investments:
Asset-backed Securities	18,829,696		—		18,829,696		—
Certificate of Deposit	238,925		238,925		—		—
Corporate Bonds	36,310,477		—		36,310,477		—
Governmental Securities	36,532,634		—		36,532,634		—
Municipal Bonds	48,430,166		—		48,430,166
Common Stock	293,300		293,300		—		—
Total	$	378,544,756	$	222,116,628	$	156,428,128	$	—

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 March 31, 2023 and December 31, 2022:

As of March 31, 2023:


			Unrealized
	Cost		Gains		Losses		Market Value
Short-Term Investments:
Certificate of Deposit	$	1,750,000	$	93	$	(8,798)	$	1,741,295
Corporate Bonds	5,542,607		—		(47,497)		5,495,110
Government Securities	6,190,793		2,058		(37,628)		6,155,223
Municipal Bonds	3,998,537		—		(34,552)		3,963,985
Other	4,474,175		—		—		4,474,175
Long-Term Investments:
Asset Backed Securities	18,852,424		—		(134,166)		18,718,258
Certificate of Deposit	250,000		—		(10,893)		239,107
Corporate Bonds	40,819,361		20,678		(3,597,540)		37,242,499
Government Securities	39,525,976		—		(2,603,327)		36,922,649
Municipal Bonds	54,635,848		314,881		(4,079,880)		50,870,849
Common Stock	720,911		—		—		720,911
Total	$	176,760,632	$	337,710	$	(10,554,281)	$	166,544,061

As of December 31, 2022:


			Unrealized
	Cost		Gains		Losses		Market Value
Short-Term Investments:
Certificate of Deposit	$	1,750,256	$	—	$	(14,093)	$	1,736,163
Corporate Bonds	5,571,417		—		(98,076)		5,473,341
Government Securities	4,476,613		—		(53,572)		4,423,041
Municipal Bonds	5,223,500		—		(48,727)		5,174,773
Other	2,347,602		—		—		2,347,602
Long-Term Investments:
Asset-backed Securities	19,151,229		—		(321,533)		18,829,696
Certificate of Deposit	250,000		—		(11,075)		238,925
Corporate Bonds	40,410,206		—		(4,099,729)		36,310,477
Government Securities	39,637,461		—		(3,104,827)		36,532,634
Municipal Bonds	53,476,883		235,713		(5,282,430)		48,430,166
Common Stock	292,638		662		—		293,300
Total	$	172,587,805	$	236,375	$	(13,034,062)	$	159,790,118

Schedule of Unrealized Loss on Investments

Unrealized losses on investments as of March 31, 2023, are as follows:


	Aggregate Unrealized Losses		Aggregate Fair Value of Investments
Loss duration of less than one year	$	321,165	$	23,213,314
Loss duration of greater than one year	10,233,116		130,046,373
Total	$	10,554,281	$	153,259,687

Unrealized losses on investments as of December 31, 2022, are as follows:


	Aggregate Unrealized Losses		Aggregate Fair Value of Investments
Loss duration of less than one year	$	4,816,103	$	77,701,146
Loss duration of greater than one year	8,217,959		76,643,586
Total	$	13,034,062	$	154,344,732

Schedule of Investments Classified by Contractual Maturity Date

Fixed income securities as of March 31, 2023 have contractual maturities as follows:


Due within one year	$	17,355,612
Due between one and five years	93,840,749
Due over five years	50,152,613
	$	161,348,974

Inventories (Tables)

3 Months Ended

Mar. 31, 2023

Inventory Disclosure [Abstract]

Schedule of Inventories

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


	March 31, 2023		December 31, 2022
Raw materials	$	301,876,129	$	304,184,004
Work-in-process	44,534,016		45,512,275
Finished goods	55,359,831		54,663,991
Total Inventory	$	401,769,976	$	404,360,270

Earnings Per Share (Tables)

3 Months Ended

Mar. 31, 2023

Earnings Per Share [Abstract]

Schedule of Earnings Per Share Basic and Diluted

The following table sets forth the computation of basic and diluted net income per common share under the two-class method for the three months ended March 31, 2023 and March 31, 2022:


	Three Months Ended March 31,
		2023		2022
Basic Earnings Per Share
Net Income		$	97,578,261	$	87,528,626
Less: Dividends and undistributed earnings allocated to participating securities		1,456,913		1,360,047
Net Income available to common shareholders		$	96,121,348	$	86,168,579

Basic weighted average shares outstanding		230,605,626		232,151,296
Net Income per share - Basic		$	0.42	$	0.37

Diluted Earnings Per Share
Allocation of Net Income used in basic computation		$	96,121,348	$	86,168,579
Reallocation of undistributed earnings		1,276		2,500
Net Income available to common shareholders - Diluted		$	96,122,624	$	86,171,079

Number of shares used in basic computation		230,605,626		232,151,296
Additional weighted average dilutive common stock equivalents		290,220		638,515
Diluted weighted average shares outstanding		230,895,846		232,789,811

Net Income per share - Diluted		$	0.42	$	0.37

Shares related to stock plans not included in diluted average common shares outstanding because their effect would be anti-dilutive		1,810,685		1,572,223

Stock-Based Compensation Plans (Tables)

3 Months Ended

Mar. 31, 2023

Share-Based Payment Arrangement [Abstract]

Schedule of Shares Issued, Net of Shares from Canceled/Expired Options and Shares

The shares issued are presented net of shares from canceled/expired options and shares.


	Shares Granted	Conversion Rate	Total Shares Under 2019 Omnibus Plan
Non-Qualified Stock Options	4,521,328	1.00	4,521,328
Restricted Stock	3,609,000	4.06	14,652,540
Performance Shares	861,416	4.06	3,497,349
Total	8,991,744		22,671,217

Schedule of 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 March 31,
		2023		2022
Dividend Yield (1)		1.76	%	1.80	%
Expected volatility (2)		29.04	%	28.16	%
Risk-free interest rate (3)		3.60	%	2.42	%
Expected term of options (years) (4)		4.15		4.15
Weighted-avg. grant date fair value		$6.84		$6.38

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 (Loss) (Tables)

3 Months Ended

Mar. 31, 2023

Equity [Abstract]

Schedule of AOCI

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


	Three Months Ended March 31,
		2023		2022
Foreign currency translation adjustments:
Balance at beginning of period		$	(4,032,239)	$	920,589
Other Comprehensive loss before reclassifications		(121,167)		(896,420)

Net current-period change		(121,167)		(896,420)
Balance at end of period		(4,153,406)		24,169

Unrealized (losses) gains on available-for-sale debt securities:
Balance at beginning of period		(10,110,695)		1,006,655
Other Comprehensive income (loss) before reclassifications		277,718		(6,423,937)
Amounts reclassified from accumulated other comprehensive income		1,761,886		265,705
Net current-period change		2,039,604		(6,158,232)
Balance at end of period		(8,071,091)		(5,151,577)







Accumulated other comprehensive loss, end of period		$	(12,224,497)	$	(5,127,408)

Schedule of Reclassifications Out of Other Comprehensive Income

The following table presents details of reclassifications out of accumulated other comprehensive loss for the three months ended March 31, 2023 and 2022:


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 March 31,
		2023		2022
Unrealized (losses) gains on available-for-sale debt securities
Realized loss on sale of securities		$	(2,230,236)	$	(336,335)	Investment income
Provision for income taxes		468,350		70,630		Provision for income taxes
Total net reclassifications for the period		$	(1,761,886)	$	(265,705)

Segment Reporting (Tables)

3 Months Ended

Mar. 31, 2023

Segment Reporting [Abstract]

Schedule of Automotive and Other Segment Reporting

These three non-automotive segments are combined into the "Other" segment as shown below.


	Three Months Ended March 31,
		2023		2022
Revenue:
Automotive Products		$	537,422,988	$	457,952,554
Other		13,338,323		10,298,222
Total		$	550,761,311	$	468,250,776
Income (Loss) from operations:
Automotive Products		$	111,439,798	$	103,475,509
Other		1,810,849		(169,604)
Total		$	113,250,647	$	103,305,905

Revenue (Tables)

3 Months Ended

Mar. 31, 2023

Revenue from Contract with Customer [Abstract]

Schedule of Disaggregation of Revenue


	Three Months Ended March 31,
Revenue		2023		2022
Automotive Products
U.S.		$	170,781,604	$	142,193,971
Germany		80,579,465		67,565,320
Japan		72,155,984		54,762,488
Mexico		34,287,544		32,135,079
Other		179,618,391		161,295,696
Total Automotive Products		$	537,422,988	$	457,952,554
Other Products (U.S.)		13,338,323		10,298,222
Total Revenue		$	550,761,311	$	468,250,776

The following table disaggregates the Company’s Automotive revenue and Other revenue by major source for the three month periods ended March 31, 2023 and March 31, 2022:


	Three Months Ended March 31,
Revenue		2023		2022
Automotive Segment
Automotive Mirrors & Electronics		$	505,731,576	$	423,626,489
HomeLink Modules*		31,691,412		34,326,065
Total Automotive Products		$	537,422,988	$	457,952,554

Other Segment
Fire Protection Products		9,301,153		8,447,686
Aerospace Products		4,037,170		1,850,536
Total Other		$	13,338,323	$	10,298,222

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

Leases (Tables)

3 Months Ended

Mar. 31, 2023

Leases [Abstract]

Schedule of Future Minimum Lease Payments

Future minimum lease payments for operating leases as of March 31, 2023 were as follows:


Year ending December 31,

2023 (excluding the three months ended March 31, 2023)	$	1,291,999
2024	863,358
2025	492,746
2026	84,795
2027	978
Thereafter	—
Total future minimum lease payments	2,733,876
Less imputed interest	(87,129)
Total	$	2,646,747

Schedule of Lease Liabilities


Reported as of March 31, 2023

Accrued Liabilities	$	1,572,606
Other Non-Current Liabilities	1,074,141
Total	$	2,646,747

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

3 Months Ended

Mar. 31, 2023

Mar. 31, 2022

Mar. 31, 2021

Dec. 31, 2020

Sep. 30, 2020

Jun. 30, 2020

Dec. 31, 2022

^[1]

Dec. 31, 2013

Finite-Lived Intangible Assets [Line Items]

Goodwill

$ 313,686,026

$ 313,807,494

Acquisitions

Amortization of intangible assets

5,300,000

$ 5,500,000

Patents and Other Intangible Assets

Finite-Lived Intangible Assets [Line Items]

Amortization expense, remainder of fiscal year

20,000,000

Amortization expense, year one

16,000,000

Amortization expense, year two

12,000,000

Amortization expense, year three

5,000,000

Amortization expense, year four

$ 5,000,000

HomeLink®

Finite-Lived Intangible Assets [Line Items]

Goodwill

$ 307,400,000

Vaporsens In-Process R&D

Finite-Lived Intangible Assets [Line Items]

Acquisitions

$ 3,700,000

Air-Craftglass In-Process R&D

Finite-Lived Intangible Assets [Line Items]

Acquisitions

$ 200,000

Argil In-Process R&D

Finite-Lived Intangible Assets [Line Items]

Acquisitions

$ 1,000,000

Guardian Optical Technologies

Finite-Lived Intangible Assets [Line Items]

Acquisitions

$ 2,000,000

[1]

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

3 Months Ended

Mar. 31, 2023

USD ($)

Goodwill [Roll Forward]

Balance as of December 31, 2022

$ 313,807,494

^[1]

(121,468)

Balance as of March 31, 2023

$ 313,686,026

[1]

- Definition

Amount after accumulated impairment loss of an asset representing future economic benefits arising from other assets acquired in a business combination that are not individually identified and separately recognized.

+ References + Details

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

3 Months Ended

12 Months Ended

Mar. 31, 2023

Dec. 31, 2022

Finite-Lived Intangible Assets [Line Items]

Intangible assets, net

$ 214,535,910

$ 219,360,910

^[1]

Gentex Patents

Finite-Lived Intangible Assets [Line Items]

Finite-lived intangible assets, gross

40,619,268

40,653,851

Finite-lived intangible assets, accumulated amortization

(28,072,946)

(27,820,383)

Finite-lived intangible assets, net

12,546,322

12,833,468

HomeLink® Technology

Finite-Lived Intangible Assets [Line Items]

Finite-lived intangible assets, gross

180,000,000

Finite-lived intangible assets, accumulated amortization

(142,500,000)

(138,750,000)

Finite-lived intangible assets, net

$ 37,500,000

$ 41,250,000

Finite-lived intangible asset, useful life

12 years

Existing Customer Platforms

Finite-Lived Intangible Assets [Line Items]

Finite-lived intangible assets, gross

$ 43,000,000

Finite-lived intangible assets, accumulated amortization

(40,850,000)

(39,775,000)

Finite-lived intangible assets, net

$ 2,150,000

$ 3,225,000

Finite-lived intangible asset, useful life

10 years

Other Intangible Assets

Finite-Lived Intangible Assets [Line Items]

Finite-lived intangible assets, accumulated amortization

$ (183,350,000)

$ (178,525,000)

Intangible assets, gross

397,885,910

Intangible assets, net

214,535,910

219,360,910

Patents and Other Intangible Assets

Finite-Lived Intangible Assets [Line Items]

Total Patents & Other Intangible Assets, Gross

438,505,178

438,539,761

Total Patents & Other Intangible Assets, Accumulated Amortization

(211,422,946)

(206,345,383)

Total Patents & Other Intangible Assets, Net

227,082,232

232,194,378

HomeLink® Trade Names and Trademarks

Finite-Lived Intangible Assets [Line Items]

Indefinite-lived intangible assets

52,000,000

HomeLink® Trade Names and Trademarks | Guardian Optical Technologies

Finite-Lived Intangible Assets [Line Items]

Indefinite-lived intangible assets

1,300,000

Exclusive Licensing Agreement

Finite-Lived Intangible Assets [Line Items]

Indefinite-lived intangible assets

96,000,000

In Process Research and Development | Vaporsens In-Process R&D

Finite-Lived Intangible Assets [Line Items]

Indefinite-lived intangible assets

11,000,000

In Process Research and Development | Argil In-Process R&D

Finite-Lived Intangible Assets [Line Items]

Indefinite-lived intangible assets

6,278,132

In Process Research and Development | Air-Craftglass In-Process R&D

Finite-Lived Intangible Assets [Line Items]

Indefinite-lived intangible assets

1,507,778

In Process Research and Development | Guardian Optical Technologies

Finite-Lived Intangible Assets [Line Items]

Indefinite-lived intangible assets

$ 6,800,000

[1]

Investments (Narrative) (Details) - USD ($)

Mar. 31, 2023

Mar. 09, 2023

Dec. 31, 2022

Sep. 30, 2022

Dec. 31, 2021

Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]

Equity method investments

$ 21,500,000

Short-term investments

$ 25,635,492

$ 23,007,385

^[1]

Long-term investments

229,398,824

202,331,983

^[1]

Adasky, LTD

Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]

Equity method investment, ownership percentage

15.00%

Long-term Investments

Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]

Equity securities, FV-NI

86,900,000

69,500,000

Long-term investments

$ 84,700,000

$ 65,700,000

Short-Term Investments

Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]

Short-term investments

$ 2,200,000

$ 3,800,000

Minimum | Gentex Corporation

Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]

Equity method investment, ownership percentage

20.00%

Maximum | Gentex Corporation

Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]

Equity method investment, ownership percentage

50.00%

[1]

Investments (Schedule of Amortized Cost, Unrealized Gains and Losses, and Market Value of Investment Securities) (Details) - USD ($)	Mar. 31, 2023	Dec. 31, 2022
Debt Securities, Available-for-sale [Line Items]
Cost	$ 176,760,632	$ 172,587,805
Unrealized Gains	337,710	236,375
Unrealized Losses	(10,554,281)	(13,034,062)
Market Value	166,544,061	159,790,118
Short-Term Investments \| Certificate of Deposit
Debt Securities, Available-for-sale [Line Items]
Cost	1,750,000	1,750,256
Unrealized Gains	93	0
Unrealized Losses	(8,798)	(14,093)
Market Value	1,741,295	1,736,163
Short-Term Investments \| Corporate Bonds
Debt Securities, Available-for-sale [Line Items]
Cost	5,542,607	5,571,417
Unrealized Gains	0	0
Unrealized Losses	(47,497)	(98,076)
Market Value	5,495,110	5,473,341
Short-Term Investments \| Government Securities
Debt Securities, Available-for-sale [Line Items]
Cost	6,190,793	4,476,613
Unrealized Gains	2,058	0
Unrealized Losses	(37,628)	(53,572)
Market Value	6,155,223
Short-Term Investments \| Municipal Bonds
Debt Securities, Available-for-sale [Line Items]
Cost	3,998,537	5,223,500
Unrealized Gains	0	0
Unrealized Losses	(34,552)	(48,727)
Market Value	3,963,985
Short-Term Investments \| Other
Debt Securities, Available-for-sale [Line Items]
Cost	4,474,175	2,347,602
Unrealized Gains	0	0
Unrealized Losses	0	0
Market Value	4,474,175	2,347,602
Long-Term Investments \| Asset Backed Securities
Debt Securities, Available-for-sale [Line Items]
Cost	18,852,424	19,151,229
Unrealized Gains	0	0
Unrealized Losses	(134,166)	(321,533)
Market Value	18,718,258	18,829,696
Long-Term Investments \| Certificate of Deposit
Debt Securities, Available-for-sale [Line Items]
Cost	250,000	250,000
Unrealized Gains	0	0
Unrealized Losses	(10,893)	(11,075)
Market Value	239,107	238,925
Long-Term Investments \| Corporate Bonds
Debt Securities, Available-for-sale [Line Items]
Cost	40,819,361	40,410,206
Unrealized Gains	20,678	0
Unrealized Losses	(3,597,540)	(4,099,729)
Market Value	37,242,499	36,310,477
Long-Term Investments \| Government Securities
Debt Securities, Available-for-sale [Line Items]
Cost	39,525,976	39,637,461
Unrealized Gains	0	0
Unrealized Losses	(2,603,327)	(3,104,827)
Market Value	36,922,649	36,532,634
Long-Term Investments \| Municipal Bonds
Debt Securities, Available-for-sale [Line Items]
Cost	54,635,848	53,476,883
Unrealized Gains	314,881	235,713
Unrealized Losses	(4,079,880)	(5,282,430)
Market Value	50,870,849	48,430,166
Long-Term Investments \| Common Stock
Debt Securities, Available-for-sale [Line Items]
Cost	720,911	292,638
Unrealized Gains	0	662
Unrealized Losses	0	0
Market Value	$ 720,911	$ 293,300

Investments (Schedule of Unrealized Loss on Investments) (Details) - USD ($)	Mar. 31, 2023	Dec. 31, 2022
Investments [Abstract]
Aggregate Unrealized Losses, Loss duration less than one year	$ 321,165	$ 4,816,103
Aggregate Unrealized Losses, Loss duration greater than one year	10,233,116	8,217,959
Aggregate Unrealized Losses, Total	10,554,281	13,034,062
Aggregate Fair Value of Investments, Loss duration less than one year	23,213,314	77,701,146
Aggregate Fair Value of Investments, Loss duration greater than one year	130,046,373	76,643,586
Aggregate Fair Value of Investments, Total	$ 153,259,687	$ 154,344,732

Investments (Investments Classified by Contractual Maturity Date) (Details) - Fixed Income Securities	Mar. 31, 2023 USD ($)
Debt Securities, Available-for-sale [Line Items]
Due within one year	$ 17,355,612
Due between one and five years	93,840,749
Due over five years	50,152,613
Total	$ 161,348,974

Inventories (Details) - USD ($)

Mar. 31, 2023

Dec. 31, 2022

Inventory Disclosure [Abstract]

Raw materials

$ 301,876,129

$ 304,184,004

Work-in-process

44,534,016

45,512,275

Finished goods

55,359,831

54,663,991

Total Inventory

$ 401,769,976

$ 404,360,270

^[1]

[1]

Earnings Per Share (Details) - USD ($)

3 Months Ended

Mar. 31, 2023

Mar. 31, 2022

Basic Earnings Per Share

Net income

$ 97,578,261

$ 87,528,626

Less: Dividends and undistributed earnings allocated to participating securities

1,456,913

1,360,047

Net Income available to common shareholders

$ 96,121,348

$ 86,168,579

Basic weighted average shares outstanding(in share)

230,605,626

232,151,296

Net income per share - Basic (in dollars per share)

^[1]

$ 0.42

$ 0.37

Diluted Earnings Per Share

Allocation of Net Income used in basic computation

$ 96,121,348

$ 86,168,579

Reallocation of undistributed earnings

1,276

2,500

Net Income available to common shareholders - Diluted

$ 96,122,624

$ 86,171,079

Number of shares used in basic computation(in share)

230,605,626

232,151,296

Additional weighted average dilutive common stock equivalents (in shares)

290,220

638,515

Diluted weighted average shares outstanding (in share)

230,895,846

232,789,811

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

^[1]

$ 0.42

$ 0.37

1,810,685

1,572,223

[1]	(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.

Stock-Based Compensation Plans (Narrative) (Details)		1 Months Ended	3 Months Ended
Stock-Based Compensation Plans (Narrative) (Details)	Jun. 30, 2022 shares	May 31, 2022 shares	Mar. 31, 2023 USD ($) plan shares	Mar. 31, 2022 USD ($)
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Compensation expense for share-based payments \| $			$ 8,519,535	$ 6,788,337
Employee Stock
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Shares issued under the omnibus plan(in share)			1,624,122
Number of shares authorized(in share)	2,000,000
ESPP discount rate	85.00%
ESPP discount rate recognized as compensation expense	15.00%
Omnibus Incentive Plan
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Total grants in period (in shares)			8,991,744
Shares issued under the omnibus plan(in share)			22,671,217
Number of shares authorized(in share)			45,000,000
Employee Stock Option Plan
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Unrecognized compensation cost \| $			$ 8,754,103
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 \| $			$ 45,419,558
Restricted period, maximum			10 years
Amortization expense \| $			$ 5,946,054	$ 5,290,805
Gentex Corporation Employee Stock Purchase Plan \| Employee Stock
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Shares issued under the omnibus plan(in share)			156,103
Number of shares authorized(in share)		2,000,000
ESPP discount rate		85.00%
ESPP discount rate recognized as compensation expense		15.00%
Equity Incentive Plans
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of plans \| plan			2
Performance Shares
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Unrecognized compensation cost \| $			$ 19,418,307
Performance Shares \| Omnibus Incentive Plan
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Shares issued under the omnibus plan(in share)			3,497,349

Stock-Based Compensation Plans (Shares Issued Net of Shares Canceled/Expired) (Details) - Omnibus Incentive Plan	3 Months Ended
	Mar. 31, 2023 shares
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Total grants in period (in shares)	8,991,744
Shares issued under the omnibus plan(in share)	22,671,217
Non-Qualified Stock Options
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Options Shares, granted (in shares)	4,521,328
Conversion rate, options	100.00%
Shares issued under the omnibus plan(in share)	4,521,328
Restricted Stock
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Shares granted (in shares)	3,609,000
Conversion rate, shares	406.00%
Shares issued under the omnibus plan(in share)	14,652,540
Performance Shares
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Shares granted (in shares)	861,416
Conversion rate, shares	406.00%
Shares issued under the omnibus plan(in share)	3,497,349

Stock-Based Compensation Plans (Weighted-Average Assumptions for the ESOP) (Details) - $ / shares	3 Months Ended
	Mar. 31, 2023	Mar. 31, 2022
Share-Based Payment Arrangement [Abstract]
Dividend yield	1.76%	1.80%
Expected volatility	29.04%	28.16%
Risk-free interest rate	3.60%	2.42%
Expected term of options (years)	4 years 1 month 24 days	4 years 1 month 24 days
Weighted average grant-date fair value (in dollars per share)	$ 6.84	$ 6.38

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

3 Months Ended

Mar. 31, 2023

Mar. 31, 2022

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

Balance at beginning of period

$ 2,065,792,821

^[1]

$ 1,937,988,467

Net current-period change

1,918,437

(7,054,652)

Balance at end of period

2,123,255,646

1,928,968,900

Accumulated Other Comprehensive Loss

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

Balance at beginning of period

(14,142,934)

1,927,244

Net current-period change

1,918,437

(7,054,652)

Balance at end of period

(12,224,497)

(5,127,408)

Foreign currency translation adjustments:

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

Balance at beginning of period

(4,032,239)

920,589

Other Comprehensive loss before reclassifications

(121,167)

(896,420)

Net current-period change

(121,167)

(896,420)

Balance at end of period

(4,153,406)

24,169

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

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

Balance at beginning of period

(10,110,695)

1,006,655

Other Comprehensive loss before reclassifications

277,718

(6,423,937)

Amounts reclassified from accumulated other comprehensive income

1,761,886

265,705

Net current-period change

2,039,604

(6,158,232)

Balance at end of period

$ (8,071,091)

$ (5,151,577)

[1]

- Definition

Amount after tax and reclassification adjustments of other comprehensive income (loss).

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 220
-SubTopic 10
-Section 45
-Paragraph 1A
-Subparagraph (b)
-URI https://asc.fasb.org/extlink&oid=126968391&loc=SL7669619-108580

Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 220
-SubTopic 10
-Section 50
-Paragraph 4
-URI https://asc.fasb.org/extlink&oid=124431353&loc=SL124442407-227067

Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 505
-SubTopic 10
-Section 50
-Paragraph 2
-URI https://asc.fasb.org/extlink&oid=126973232&loc=d3e21463-112644

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 830
-SubTopic 30
-Section 45
-Paragraph 17
-URI https://asc.fasb.org/extlink&oid=118261656&loc=d3e32136-110900

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 220
-SubTopic 10
-Section S99
-Paragraph 2
-Subparagraph (SX 210.5-03(21))
-URI https://asc.fasb.org/extlink&oid=126953954&loc=SL114868664-224227

Reference 6: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 220
-SubTopic 10
-Section 55
-Paragraph 15
-URI https://asc.fasb.org/extlink&oid=124507222&loc=d3e1436-108581

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 830
-SubTopic 30
-Section 45
-Paragraph 20
-URI https://asc.fasb.org/extlink&oid=118261656&loc=d3e32211-110900

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 830
-SubTopic 30
-Section 50
-Paragraph 1
-URI https://asc.fasb.org/extlink&oid=6450520&loc=d3e32583-110901

Reference 9: http://www.xbrl.org/2009/role/commonPracticeRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 220
-SubTopic 10
-Section 50
-Paragraph 5
-URI https://asc.fasb.org/extlink&oid=124431353&loc=SL124442411-227067

Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 220
-SubTopic 10
-Section 45
-Paragraph 1B
-Subparagraph (b)
-URI https://asc.fasb.org/extlink&oid=126968391&loc=SL7669625-108580

Reference 11: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 942
-SubTopic 220
-Section S99
-Paragraph 1
-Subparagraph (SX 210.9-04(23))
-URI https://asc.fasb.org/extlink&oid=120399700&loc=SL114874048-224260

Reference 12: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 944
-SubTopic 220
-Section S99
-Paragraph 1
-Subparagraph (SX 210.7-04(19))
-URI https://asc.fasb.org/extlink&oid=120400993&loc=SL114874131-224263

+ Details

- Definition

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.

+ References

Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 235
-SubTopic 10
-Section S99
-Paragraph 1
-Subparagraph (SX 210.4-08(g)(1)(ii))
-URI https://asc.fasb.org/extlink&oid=120395691&loc=d3e23780-122690

Reference 2: http://www.xbrl.org/2003/role/exampleRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 852
-SubTopic 10
-Section 55
-Paragraph 10
-URI https://asc.fasb.org/extlink&oid=84165509&loc=d3e56426-112766

Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 310
-SubTopic 10
-Section S99
-Paragraph 2
-Subparagraph (SAB Topic 4.E)
-URI https://asc.fasb.org/extlink&oid=122038336&loc=d3e74512-122707

Reference 4: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 210
-SubTopic 10
-Section S99
-Paragraph 1
-Subparagraph (SX 210.5-02(31))
-URI https://asc.fasb.org/extlink&oid=120391452&loc=d3e13212-122682

Reference 5: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 210
-SubTopic 10
-Section S99
-Paragraph 1
-Subparagraph (SX 210.5-02(29))
-URI https://asc.fasb.org/extlink&oid=120391452&loc=d3e13212-122682

Reference 6: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 210
-SubTopic 10
-Section S99
-Paragraph 1
-Subparagraph (SX 210.5-02(30))
-URI https://asc.fasb.org/extlink&oid=120391452&loc=d3e13212-122682

Reference 7: http://www.xbrl.org/2009/role/commonPracticeRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 825
-SubTopic 10
-Section 50
-Paragraph 28
-Subparagraph (f)
-URI https://asc.fasb.org/extlink&oid=123596393&loc=d3e14064-108612

Reference 8: http://www.xbrl.org/2009/role/commonPracticeRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 323
-SubTopic 10
-Section 50
-Paragraph 3
-Subparagraph (c)
-URI https://asc.fasb.org/extlink&oid=114001798&loc=d3e33918-111571

+ Details

Comprehensive Income (Loss) (Reclassification Out of Accumulated Other Comprehensive Income) (Details) - USD ($)	3 Months Ended
	Mar. 31, 2023	Mar. 31, 2022
Reclassification Out of Accumulated Other Comprehensive Income [Line Items]
Provision for income taxes	$ (18,416,841)	$ (15,766,785)
Unrealized (losses) gains on available-for-sale debt securities:
Reclassification Out of Accumulated Other Comprehensive Income [Line Items]
Total net reclassifications for the period	(1,761,886)	(265,705)
Amounts Reclassified from Other Comprehensive Loss \| Unrealized (losses) gains on available-for-sale debt securities:
Reclassification Out of Accumulated Other Comprehensive Income [Line Items]
Realized loss on sale of securities	(2,230,236)	(336,335)
Provision for income taxes	468,350	70,630
Total net reclassifications for the period	$ (1,761,886)	$ (265,705)

- Definition

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

+ References + Details

Debt and Financing Arrangements (Details) - USD ($)	Feb. 21, 2023	Mar. 31, 2023
Revolving Facility
Debt Instrument [Line Items]
Debt instrument, term	3 years
Principal amount	$ 250,000,000
Additional borrowings available	150,000,000
Long-term debt		$ 0
Letter of Credit
Debt Instrument [Line Items]
Additional borrowings available	20,000,000
Swing Loans
Debt Instrument [Line Items]
Additional borrowings available	$ 35,000,000

- Definition

Amount, excluding unamortized premium (discount) and debt issuance cost, of long-term debt. Excludes lease obligation.

+ References + Details

Equity (Details) - USD ($) $ / shares in Units, shares in Millions, $ in Millions		3 Months Ended
	Feb. 28, 2023	Mar. 31, 2023	Mar. 31, 2022
Equity [Abstract]
Stock repurchased (in shares)		1.0
Common stock issued under stock compensation plan (in shares)		0.6
Net decrease in period (in shares)		0.4
Dividends declared (in dollars per share)		$ 0.120	$ 0.120
Dividends	$ 28.0

Segment Reporting (Details) - USD ($)	3 Months Ended
Segment Reporting (Details) - USD ($)	Mar. 31, 2023	Mar. 31, 2022
Segment Reporting Information [Line Items]
Revenue	$ 550,761,311	$ 468,250,776
Income (loss) from operations	113,250,647	103,305,905
Automotive Products
Segment Reporting Information [Line Items]
Revenue	537,422,988	457,952,554
Income (loss) from operations	111,439,798	103,475,509
Other
Segment Reporting Information [Line Items]
Revenue	13,338,323	10,298,222
Income (loss) from operations	$ 1,810,849	$ (169,604)

- Definition

Amount, excluding 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.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 30
-Subparagraph (a)
-URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e8906-108599

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 40
-URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e9031-108599

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 41
-Subparagraph (a)
-URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e9038-108599

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 32
-Subparagraph (b)
-URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e8933-108599

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 32
-Subparagraph (a)
-URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e8933-108599

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
-SubTopic 10
-Section 50
-Paragraph 4
-Subparagraph (a)
-URI https://asc.fasb.org/extlink&oid=126920106&loc=SL49130543-203045

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 22
-Subparagraph (b)
-URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e8736-108599

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 22
-Subparagraph (a)
-URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e8736-108599

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 42
-URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e9054-108599

Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
-SubTopic 10
-Section 50
-Paragraph 5
-URI https://asc.fasb.org/extlink&oid=126920106&loc=SL49130545-203045

Reference 11: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 924
-SubTopic 10
-Section S99
-Paragraph 1
-Subparagraph (SAB Topic 11.L)
-URI https://asc.fasb.org/extlink&oid=6472922&loc=d3e499488-122856

+ Details

Income Taxes (Details)	3 Months Ended
Income Taxes (Details)	Mar. 31, 2023	Mar. 31, 2022
Income Tax Disclosure [Abstract]
Effective income tax rate	15.90%	15.30%

Revenue (Details) - USD ($)	3 Months Ended
Revenue (Details) - USD ($)	Mar. 31, 2023	Mar. 31, 2022
Disaggregation of Revenue [Line Items]
Revenue	$ 550,761,311	$ 468,250,776
Automotive Segment
Disaggregation of Revenue [Line Items]
Revenue	537,422,988	457,952,554
Other Segment
Disaggregation of Revenue [Line Items]
Revenue	13,338,323	10,298,222
Automotive Segment
Disaggregation of Revenue [Line Items]
Revenue	537,422,988	457,952,554
Automotive Mirrors & Electronics \| Automotive Segment
Disaggregation of Revenue [Line Items]
Revenue	505,731,576	423,626,489
HomeLink Modules \| Automotive Segment
Disaggregation of Revenue [Line Items]
Revenue	31,691,412	34,326,065
Fire Protection Products \| Other Segment
Disaggregation of Revenue [Line Items]
Revenue	9,301,153	8,447,686
Aerospace Products \| Other Segment
Disaggregation of Revenue [Line Items]
Revenue	4,037,170	1,850,536
U.S. \| Automotive Segment
Disaggregation of Revenue [Line Items]
Revenue	170,781,604	142,193,971
U.S. \| Other Segment
Disaggregation of Revenue [Line Items]
Revenue	13,338,323	10,298,222
Germany \| Automotive Segment
Disaggregation of Revenue [Line Items]
Revenue	80,579,465	67,565,320
Japan \| Automotive Segment
Disaggregation of Revenue [Line Items]
Revenue	72,155,984	54,762,488
Mexico \| Automotive Segment
Disaggregation of Revenue [Line Items]
Revenue	34,287,544	32,135,079
Other \| Automotive Segment
Disaggregation of Revenue [Line Items]
Revenue	$ 179,618,391	$ 161,295,696

Leases (Details)	Mar. 31, 2023 USD ($)
Lessee, Lease, Description [Line Items]
Weighted average remaining lease term	2 years
Weighted average discount rate	5.80%
2023 (excluding the three months ended March 31, 2023)	$ 1,291,999
2024	863,358
2025	492,746
2026	84,795
2027	978
Thereafter	0
Total future minimum lease payments	2,733,876
Less imputed interest	(87,129)
Total	2,646,747
Accrued Liabilities	1,572,606
Other Non-Current Liabilities	$ 1,074,141
Operating lease, liability, current, statement of financial position	Accrued liabilities
Operating lease, liability, noncurrent, statement of financial position	OTHER NON-CURRENT LIABILITIES
Minimum
Lessee, Lease, Description [Line Items]
Remaining lease terms	1 year
Maximum
Lessee, Lease, Description [Line Items]
Remaining lease terms	5 years