Company: CPS
Filing Date: 2025-05-02
Form Type: 10-Q
Source: 0001320461-25-000087
Chunk: 68

Company: Cooper-Standard Holdings Inc.
Filing Date: 2025-05-02
Form: 10-Q
Item: Part I, Item 8
Chunk 68
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 2025, the Company recognized a net gain of $98 related to final purchase price adjustments associated with the sale. This amount is included in selling, engineering & administrative expenses in the condensed consolidated statement of operations.

3. Revenue

Revenue is recognized for manufactured parts at a point in time, generally when products are shipped or delivered. The Company usually enters into agreements with customers to produce products at the beginning of a vehicle’s life. Blanket purchase orders received from customers and related documents generally establish the annual terms, including pricing, related to a vehicle model. Customers typically pay for parts based on customary business practices with payment terms generally between 30 and 90 days.The passenger and light duty customer group consists of sales to automotive OEMs and automotive suppliers, while the commercial customer group represents sales to OEMs of on- and off-highway commercial equipment and vehicles. The other customer group includes sales related to specialty and adjacent markets.Revenue by customer group for the three months ended March 31, 2025 was as follows:Sealing SystemsFluid Handling SystemsOtherConsolidatedPassenger and Light Duty$336,141 $299,845 $— $635,986 Commercial7,773 2,047 1,819 11,639 Other397 2,106 16,941 19,444 Revenue$344,311 $303,998 $18,760 $667,069 Revenue by customer group for the three months ended March 31, 2024 was as follows: Sealing SystemsFluid Handling SystemsOtherConsolidatedPassenger and Light Duty$343,521 $299,180 $— $642,701 Commercial7,365 2,926 1,899 12,190 Other393 3,409 17,732 21,534 Revenue$351,279 $305,515 $19,631 $676,425 Substantially all of the Company’s revenue is generated from sealing systems and fluid handling systems (consisting of fuel and brake delivery systems and fluid transfer systems) for use in passenger vehicles and light trucks manufactured by global OEMs.A summary of the Company’s products is as follows:Product LineDescriptionSealing SystemsProtect vehicle interiors from weather, dust and noise intrusion for improved driving experience; provide aesthetic and functional class-A exterior surface treatment.Fluid Handling SystemsFuel & Brake Delivery Systems - Sense, deliver and control fluid and fluid vapors for fuel and brake systems.Fluid Transfer