Company: CPS
Filing Date: 2025-02-14
Form Type: 10-K
Source: 0001320461-25-000033
Chunk: 71

Company: Cooper-Standard Holdings Inc.
Filing Date: 2025-02-14
Form: 10-K
Item: Item 7
Chunk 71
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 Real, and $1.0 million unfavorable impact of all other currencies.

Segment adjusted EBITDAYear Ended December 31,Variance Due To:20242023ChangeVolume / Mix*Foreign ExchangeCost (Increases)/Decreases**(Dollar amounts in thousands)Segment adjusted EBITDASealing Systems$126,524 $114,245 $12,279 $(14,347)$(20,578)$47,204 Fluid Handling Systems77,686 74,782 2,904 (12,025)(19,004)34,302 Total for reportable segments$204,210 $189,027 $15,183 $(26,372)$(39,582)$81,506 

*    Net of customer price adjustments, including recoveries and the impact of work stoppages initiated by certain labor unions in North America in 2023.

**    Net of restructuring savings.

Sealing Systems. The adjusted EBITDA variance due to volume and mix, including customer price adjustments, was primarily driven by lower customer recoveries. The unfavorable foreign currency exchange impact was driven by a $9.6 million impact of the Brazilian Real, $6.6 million impact of the Polish Zloty, $4.2 million impact of the Mexican Peso, and $0.2 million unfavorable impact of all other currencies. The cost decreases were primarily driven by $42.9 million of favorable manufacturing and purchasing savings through lean initiatives, and $18.3 million of all other operational costs primarily driven by restructuring savings and income from unconsolidated joint ventures, partially offset by $14.0 million of unfavorable inflationary costs (including salary and fringes, occupancy, and other costs).

Fluid Handling Systems. The adjusted EBITDA variance due to volume and mix, including customer price adjustments, was driven by lower customer volumes. The unfavorable foreign currency exchange impact was driven by a $10.8 million impact of the Mexican Peso, $4.5 million impact of the Costa Rican Colon, $3.4 million impact of the Brazilian Real, and $0.3 million unfavorable impact of all other currencies. The cost decreases were primarily driven by $37.6 million of favorable manufacturing and purchasing savings through lean initiatives, $4.4 million of favorable material input cost, and $10.6 million of all other operational costs primarily driven by restructuring savings, partially offset by $18.3 million of unfavorable inflationary costs (including salary and fringes,