Company: SSUP
Filing Date: 2025-03-06
Form Type: 10-K
Source: 0000950170-25-034599
Chunk: 73

Company: SUPERIOR INDUSTRIES INTERNATIONAL INC
Filing Date: 2025-03-06
Form: 10-K
Item: Item 1B
Chunk 73
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 of financial reporting and the preparation of financial statements for external purposes in accordance with generally accepted accounting principles. A company’s internal control over financial reporting includes those policies and procedures that (1) pertain to the maintenance of records that, in reasonable detail, accurately and fairly reflect the transactions and dispositions of the assets of the company; (2) provide reasonable assurance that transactions are recorded as necessary to permit preparation of financial statements in accordance with generally accepted accounting principles, and that receipts and expenditures of the company are being made only in accordance with authorizations of management and directors of the company; and (3) provide reasonable assurance regarding prevention or timely detection of unauthorized acquisition, use, or disposition of the company’s assets that could have a material effect on the financial statements.

Because of its inherent limitations, internal control over financial reporting may not prevent or detect misstatements. Also, projections of any evaluation of effectiveness to future periods are subject to the risk that controls may become inadequate because of changes in conditions, or that the degree of compliance with the policies or procedures may deteriorate.

/s/ Deloitte & Touche LLP

Detroit, Michigan

March 6, 2025  

37

SUPERIOR INDUSTRIES INTERNATIONAL, INC. 

CONSOLIDATED STATEMENTS OF INCOME (LOSS)

(Dollars in thousands, except per share data) 

    Fiscal Year Ended December 31,
     
    2024

    2023

    NET SALES
     
    $
    1,267,344

    $
    1,385,283

    Cost of sales

    1,156,810

    1,269,535

    GROSS PROFIT

    110,534

    115,748

    Selling, general and administrative expenses

    81,282

    87,567

    Loss on deconsolidation of subsidiary

    —

    79,629

    INCOME (LOSS) FROM OPERATIONS

    29,252

    (51,448
    )

    Interest expense, net

    (67,105
    )

    (62,140
    )

    Loss on extinguishment of debt

    (13,052
    )

    —

    Other income (expense), net

    (1,776
    )

    (3,210
    )

    INCOME (LOSS) BEFORE INCOME TAXES

    (52,681
    )

    (116,798
    )