Company: CPS
Filing Date: 2025-02-14
Form Type: 10-K
Source: 0001320461-25-000033
Chunk: 85

Company: Cooper-Standard Holdings Inc.
Filing Date: 2025-02-14
Form: 10-K
Item: Item 8
Chunk 85
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 accepted accounting principles, and that receipts and expenditures of the company are being made only in accordance with authorizations of management and directors of the company; and (3) provide reasonable assurance regarding prevention or timely detection of unauthorized acquisition, use, or disposition of the company’s assets that could have a material effect on the financial statements.

Because of its inherent limitations, internal control over financial reporting may not prevent or detect misstatements. Also, projections of any evaluation of effectiveness to future periods are subject to the risk that controls may become inadequate because of changes in conditions, or that the degree of compliance with the policies or procedures may deteriorate.

/s/ Ernst & Young LLP

Detroit, Michigan

February 14, 2025

43

COOPER-STANDARD HOLDINGS INC.

CONSOLIDATED STATEMENTS OF OPERATIONS

(Dollar amounts in thousands except per share amounts)

  Year Ended December 31, 202420232022Sales$2,730,893 $2,815,879 $2,525,391 Cost of products sold2,427,978 2,525,103 2,395,600 Gross profit302,915 290,776 129,791 Selling, administration & engineering expenses207,553 215,741 199,455 Gain on sale of businesses, net(1,971)(586)— Gain on sale of buildings and land, net(3,317)— (33,391)Amortization of intangibles6,512 6,804 6,715 Restructuring charges23,601 18,018 18,304 Impairment charges713 4,768 43,710 Operating income (loss)69,824 46,031 (105,002)Interest expense, net of interest income(115,639)(130,077)(78,514)Equity in earnings (losses) of affiliates6,828 3,281 (8,817)Loss on refinancing and extinguishment of debt— (81,885)— Pension settlement and curtailment charges(44,553)(16,035)(2,682)Other expense, net(17,938)(15,698)(5,485)Loss before income taxes(101,478)(194,383)(200,500)Income tax (benefit) expense(23,348)8,933 17,291 Net loss(78,130)(203