Company: CPS
Filing Date: 2025-02-14
Form Type: 10-K
Source: 0001320461-25-000033
Chunk: 65

Company: Cooper-Standard Holdings Inc.
Filing Date: 2025-02-14
Form: 10-K
Item: Item 7
Chunk 65
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 rate6.21%5.00%Ultimate health care cost trend rate4.50%5.00%Year that the rate reaches the ultimate trend rate2031N/A

Aggregate other postretirement net periodic benefit income is forecasted to be approximately $1.0 million in 2025.

The Company’s policy is to fund pension plans such that sufficient assets will be available to meet future benefit requirements and contribute amounts deductible for United States federal income tax purposes or amounts required by local statute. The Company does not anticipate making cash contributions to its U.S. supplemental employee retirement plan in 2025, but estimates cash contributions of approximately $0.4 million to its non-U.S. pension plans in 2025.

The Company does not prefund its postretirement benefit obligations. Rather, payments are made as costs are incurred by covered retirees. We expect net other postretirement benefit payments to be approximately $2.1 million in 2025.

30

Historical Periods 

Refer to Part II - Item 7. Management’s Discussion and Analysis of Financial Condition and Results of Operations in our Form 10-K for the fiscal year ended December 31, 2023 for discussion of the Results of Operations, Segment Results of Operations, and Liquidity and Capital Resources for the year ended December 31, 2023 compared to the year ended December 31, 2022, which is incorporated by reference herein.

Results of Operations Year Ended December 31,Change 202420232024 vs. 2023 (Dollar amounts in thousands)Sales$2,730,893 $2,815,879 $(84,986)Cost of products sold2,427,978 2,525,103 (97,125)Gross profit302,915 290,776 12,139 Selling, administration & engineering expenses207,553 215,741 (8,188)Gain on sale of businesses, net(1,971)(586)(1,385)Gain on sale of buildings and land, net(3,317)— (3,317)Amortization of intangibles6,512 6,804 (292)Restructuring charges23,601 18,018 5,583 Impairment charges713 4,768 (4,055)Operating income69,824 46,031 23,793 Interest expense, net of interest income(115,639)(130,