Company: CPS
Filing Date: 2025-02-14
Form Type: 10-K
Source: 0001320461-25-000033
Chunk: 66

Company: Cooper-Standard Holdings Inc.
Filing Date: 2025-02-14
Form: 10-K
Item: Item 7
Chunk 66
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077)14,438 Equity in earnings of affiliates6,828 3,281 3,547 Loss on refinancing and extinguishment of debt— (81,885)81,885 Pension settlement and curtailment charges(44,553)(16,035)(28,517)Other expense, net(17,938)(15,698)(2,241)Loss before income taxes(101,478)(194,383)92,905 Income tax (benefit) expense(23,348)8,933 (32,281)Net loss(78,130)(203,316)125,186 Net (income) loss attributable to noncontrolling interests(616)1,331 (1,947)Net loss attributable to Cooper-Standard Holdings Inc.$(78,746)$(201,985)$123,239 

Year Ended December 31, 2024 Compared to Year Ended December 31, 2023.

Sales

Year Ended December 31,Variance Due To:20242023ChangeVolume / Mix*Foreign ExchangeDivestitures(Dollar amounts in thousands)Total sales$2,730,893 $2,815,879 $(84,986)$(31,802)$(20,642)$(32,542)

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

Sales for the year ended December 31, 2024 decreased 3.0%, compared to the year ended December 31, 2023. The decrease in sales was driven by unfavorable volume and mix, net of customer price adjustments including recoveries, the divestitures of our European technical rubber products business and a joint venture in the Asia Pacific region in the prior year, and the negative impact of foreign exchange.

31

Gross ProfitYear Ended December 31,Variance Due To:20242023ChangeVolume / Mix*Foreign ExchangeCost (Decreases) / Increases**(Dollar amounts in thousands)Cost of products sold$2,427,978 $2,525,103 $(97,125)$(7,302)$15,760 $(105,583)Gross profit302,915 290,776 12,139 (24,500)(36,402)73,041 Gross profit percentage of sales11.1 %10.3 %

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