Company: CPS
Filing Date: 2025-08-01
Form Type: 10-Q
Source: 0001320461-25-000131
Chunk: 80

Company: Cooper-Standard Holdings Inc.
Filing Date: 2025-08-01
Form: 10-Q
Item: Part I, Item 8
Chunk 80
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 and disclosures.January 1, 2027

2. Divestiture

2024 DivestitureIn the fourth quarter of 2024, the Company completed the sale of its non-core Canadian tooling business. Under the terms of the agreement, total cash proceeds of $2,558 were received during the six months ended June 30, 2025. A contingent payment of up to $2,000 may be received in the future based on the Company issuing a set value of purchase orders to the buyer over a specified period.During the six months ended June 30, 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 June 30, 2025 was as follows:Sealing SystemsFluid Handling SystemsOtherConsolidatedPassenger and Light Duty$356,005 $317,755 $— $673,760 Commercial7,794 2,317 2,063 12,174 Other569 2,358 17,112 20,039 Revenue$364,368 $322,430 $19,175 $705,973 

9

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

Revenue by customer group for the six months ended June 30, 2025 was as follows:Sealing SystemsFluid Handling SystemsOtherConsolidatedPassenger and Light Duty$692,146 $617,600 $— $1,309,746 Commercial15,567 4,