Company: CPS
Filing Date: 2025-02-14
Form Type: 10-K
Source: 0001320461-25-000033
Chunk: 107

Company: Cooper-Standard Holdings Inc.
Filing Date: 2025-02-14
Form: 10-K
Item: Item 8
Chunk 107
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 with the goodwill allocation, the Company performed a quantitative impairment assessment of goodwill immediately before and after the segment realignment. The quantitative analyses did not result in any impairment charges as the fair value of each reporting unit exceeded its respective carrying value.Changes in the carrying amount of goodwill by reporting unit for the years ended December 31, 2024 and 2023 were as follows:Sealing SystemsFluid Handling SystemsIndustrial Specialty GroupTotalBalance as of December 31, 2022$47,684 $80,303 $14,036 $142,023 Divestiture— — (1,300)(1,300)Foreign exchange translation91 — — 91 Balance as of December 31, 202347,775 80,303 12,736 140,814 Foreign exchange translation(371)— — (371)Balance as of December 31, 2024$47,404 $80,303 $12,736 $140,443 The Company performed its annual goodwill impairment during the fourth quarters of 2024, 2023 and 2022. In the fourth quarter of 2024, the Company performed a qualitative assessment, which was partly informed by quantitative valuations of each reporting unit conducted as of January 1, 2024, following a change to Company’s management reporting restructure. Based on this assessment, the Company concluded that it is more likely than not that the fair value of each reporting unit exceeds its carrying amount, and therefore, no goodwill impairment was required for the year ended December 31, 2024. During the fourth quarters of 2023 and 2022, the Company performed quantitative goodwill impairment tests. The fair value of each reporting unit was determined and compared to its carrying value. If the carrying value had exceeded the fair value, an impairment charge would have been recorded for the difference. The results of the annual quantitative impairment analyses indicated that the fair value of all reporting units exceeded their carrying values, resulting in no goodwill impairment for both 2023 and 2022. The write off of goodwill of $1,300 during the year ended December 31, 2023 is related to the sale of the European technical rubber products business. Refer to Note. 4 “Divestitures and Deconsolidations” for additional information. 

59

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

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