Company: CVGI
Filing Date: 2025-05-06
Form Type: 10-Q
Source: 0001628280-25-022764
Chunk: 6

Company: Commercial Vehicle Group, Inc.
Filing Date: 2025-05-06
Form: 10-Q
Item: Item 1
Chunk 6
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 of selling expenses and our definition of selling expenses. The standard is effective for fiscal years beginning after December 15, 2026, and interim periods within fiscal years beginning after December 15, 2027, with early adoption permitted. We are currently evaluating the impact of adopting this ASU on our consolidated financial statements and related disclosures.

3. Revenue Recognition 

We had outstanding customer accounts receivable, net of allowances, of $119.5 million as of March 31, 2025 and $118.7 million as of December 31, 2024. We generally do not have material other assets or liabilities associated with customer arrangements.Revenue Disaggregation - The following is the composition, by product category, of our revenues: Three Months Ended March 31, 2025Global SeatingGlobal Electrical SystemsTrim Systems and ComponentsTotalSeats$72,702 $— $— $72,702 Electrical wire harnesses, panels and assemblies706 50,453 — 51,159 Plastic & Trim components— — 35,723 35,723 Mirrors, wipers and controls— — 10,211 10,211 Total$73,408 $50,453 $45,934 $169,795 Three Months Ended March 31, 2024Global SeatingGlobal Electrical SystemsTrim Systems and ComponentsTotalSeats$80,267 $— $— $80,267 Electrical wire harnesses, panels and assemblies530 58,726 — 59,256 Plastic & Trim components— — 41,655 41,655 Mirrors, wipers and controls— — 13,448 13,448 Total$80,797 $58,726 $55,103 $194,626 

4. Debt 

Debt consisted of the following:March 31, 2025December 31, 2024Term loan facility$85,000 $85,000 Revolving credit facility32,400 50,500 $117,400 $135,500 Less: current portion of long-term debt(13,906)(8,438)Total long-term debt, net of current portion$103,494 $127,062 Credit AgreementOn April 30, 2021, the Company and certain of its subsidiaries entered into a credit agreement (the “Credit Agreement”) between, among