Company: CPS
Filing Date: 2025-02-14
Form Type: 10-K
Source: 0001320461-25-000033
Chunk: 96

Company: Cooper-Standard Holdings Inc.
Filing Date: 2025-02-14
Form: 10-K
Item: Item 8
Chunk 96
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 generally recognizes such expenses on a straight-line basis over the vesting period of the share-based employee awards. See Note 19. “Share-Based Compensation” for additional information.

Use of Estimates – The preparation of financial statements in conformity with U.S. GAAP requires management to make estimates and judgments that affect amounts reflected in the consolidated financial statements, as well as disclosure of contingent assets and liabilities. Considerable judgment is often involved in making such estimates, and the use of different assumptions could result in different conclusions. Management believes its assumptions and estimates are reasonable and appropriate. However, actual results could differ from those estimates. 

51

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

3. New Accounting Pronouncements

Recently Adopted Accounting PronouncementsThe Company adopted the following Accounting Standards Updates (“ASU”) in 2024, which did not have a material impact on its consolidated financial statements:StandardDescriptionEffective DateASU 2023-07, Segment Reporting (Topic 280): Improvements to Reportable Segment DisclosuresRequires disclosure of significant segment expenses that are regularly provided to the CODM and included within each reported measure of segment profit or loss, an amount and description of its composition for other segment items to reconcile to segment profit or loss, and the title and position of the entity’s CODM beginning with this Annual Report on Form 10-K. See Note 21. “Business Segments” for required disclosures. The amendments in this update also require certain annual segment disclosures to be included in interim periods beginning in 2025.January 1, 2024Recently Issued Accounting PronouncementsThe Company considered the recently issued accounting pronouncements summarized as follows, which could have a material impact on its consolidated financial statements or disclosures:StandardDescriptionImpactEffective DateASU 2023-09, Income Taxes (Topic 740): Improvements to Income Tax DisclosuresRequires disaggregated information about a reporting entity’s effective tax rate reconciliation as well as information on income taxes paid.The Company is currently evaluating the impact of this update on its consolidated financial statements and disclosures.January 1, 2025ASU 2023-05, Business Combinations - Joint Venture Formations (Subtopic 805-60): Recognition and Initial MeasurementRequires joint ventures to apply a new basis of accounting upon formation, and as a result, initially measure all assets and liabilities at fair value (with exceptions to fair value measurement that are consistent with the business combinations guidance