Company: CVGI
Filing Date: 2025-03-17
Form Type: 10-K
Source: 0001628280-25-012913
Chunk: 125

Company: Commercial Vehicle Group, Inc.
Filing Date: 2025-03-17
Form: 10-K
Item: Item 8
Chunk 125
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 consolidated statement of earnings (loss) for all the periods presented. No amounts for shared general and administrative operating support expense were allocated to the discontinued operation. The assets and liabilities related to these divestitures were classified under a held for sale designation within the Consolidated Balance Sheets as of December 31, 2023. The Company has continuing involvement with the cab structures business through a transition services agreement (TSA), pursuant to which the Company and Buyer parties provide certain service to each other for a period of time following the disposition, up to one year. While the transition services are expected to vary in duration depending upon the type of service provided, the Company expects to reduce costs as the transition services are completed. The Company recognized $3.2 million of income related to the transition services agreement for the twelve months ended December 31, 2024, which was presented in Continuing operations, Other (income) expense in the Condensed Consolidated Statements of Operations.The following table provides a reconciliation of the individual discontinued operations to the Condensed Consolidated Statements of Operations for the  twelve months ended December 31, 2024 and 2023. Twelve Months Ended December 31,202420232022Income (loss) from discontinued operations, net of taxCab structures business$20,078 $7,126 $1,873 Industrial Automation segment(12,211)(1,348)(7,218)Total income from discontinued operations, net of tax$7,867 $5,778 $(5,345)

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The following tables present reconciliations of the captions within CVG's Condensed Consolidated Statements of Operations attributable to each discontinued operation for the  twelve months ended December 31, 2024 and 2023. Twelve Months Ended December 31,202420232022Income (loss) from discontinued operations attributable to Cab structures business:Revenues$93,150 $120,310 $111,223 Cost of revenues101,826 110,871 107,943 Gross profit(8,676)9,439 3,280 Selling, general and administrative expenses— — 1,407 Operating income (loss)(8,676)9,439 1,873 Income (loss) before provision for income taxes(8,676)9,439 1,873 Provision (benefit) for income taxes of discontinued operations— 2,313 — Earnings (loss) from discontinued operations -