Company: CPS
Filing Date: 2025-02-14
Form Type: 10-K
Source: 0001320461-25-000033
Chunk: 97

Company: Cooper-Standard Holdings Inc.
Filing Date: 2025-02-14
Form: 10-K
Item: Item 8
Chunk 97
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).The Company is currently evaluating the impact of this update on its consolidated financial statements and disclosures.January 1, 2025ASU 2024-03, Income Statement - Reporting Comprehensive Income - Expense Disaggregation Disclosures (Subtopic 220-40): Disaggregation of Income Statement ExpensesRequires disclosure of specified information about certain expenses presented in the statements of operations within the notes to financial statements at each interim and annual reporting period. It also requires disclosure of the total amount of selling expenses and, in annual reporting periods, an entity’s definition of selling expenses.The Company is currently evaluating the impact of this update on its consolidated financial statements and disclosures.January 1, 2027ASU 2025-01, Income Statement - Reporting Comprehensive Income - Expense Disaggregation Disclosures (Subtopic 220-40): Clarifying the Effective DateAmends the effective date of ASU 2024-03 to clarify that all public business entities are required to adopt the guidance in annual reporting periods beginning after December 15, 2026, and interim periods within annual reporting periods beginning after December 15, 2027.The Company is currently evaluating the impact of this update on its consolidated financial statements and disclosures.January 1, 2027

4. Divestitures and Deconsolidation

2024 DivestitureIn the fourth quarter of 2024, the Company completed the sale of its Canadian tooling business. Under the terms of the agreement, an initial cash payment of $2,500 was received in the first quarter of 2025, with an additional $2,000 to be received contingent upon the Company issuing a set value of purchase orders with the buyer over a specified period.During the year ended December 31, 2024, the Company recorded a net gain of $1,971 associated with the sale, included in the consolidated statements of operations.2023 DivestitureIn the second quarter of 2023, the Company signed a share purchase and assignment agreement to sell its European technical rubber products business. In the third quarter of 2023, the Company closed the transaction and received cash proceeds 

52

NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (Continued)(Dollar amounts in thousands except per share and share amounts)

in the amount of $15,009. In the fourth quarter of 2023, the Company finalized computations of purchase price adjustments. Incremental proceeds of $663 resulting from final net purchase price adjustments were received in the