Company: CPS
Filing Date: 2025-05-02
Form Type: 10-Q
Source: 0001320461-25-000087
Chunk: 22

Company: Cooper-Standard Holdings Inc.
Filing Date: 2025-05-02
Form: 10-Q
Item: Part I, Item 1
Chunk 22
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 vapors for fuel and brake systems.Fluid Transfer Systems - Sense, deliver, connect and control fluid delivery for optimal thermal management, powertrain & HVAC operation.

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

Revenue by geographical region for the three months ended March 31, 2025 was as follows:Sealing SystemsFluid Handling SystemsOtherConsolidatedNorth America$148,762 $226,336 $— $375,098 Europe115,330 33,070 — 148,400 Asia Pacific59,673 37,000 — 96,673 South America20,546 7,592 — 28,138 Corporate, eliminations and other— — 18,760 18,760 Revenue$344,311 $303,998 $18,760 $667,069 Revenue by geographical region for the three months ended March 31, 2024 was as follows:Sealing SystemsFluid Handling SystemsOtherConsolidatedNorth America$150,851 $225,368 $— $376,219 Europe125,719 34,862 — 160,581 Asia Pacific54,281 37,881 — 92,162 South America20,428 7,404 — 27,832 Corporate, eliminations and other— — 19,631 19,631 Revenue$351,279 $305,515 $19,631 $676,425 Contract EstimatesThe amount of revenue recognized is usually based on the purchase order price and adjusted for variable consideration, including pricing concessions. The Company accrues for pricing concessions by reducing revenue as products are shipped or delivered. The accruals are based on historical experience, anticipated performance and management’s best judgment. The Company also generally has ongoing adjustments to customer pricing arrangements based on the content and cost of its products. Such pricing accruals are adjusted as they are settled with customers. Customer returns, which are infrequent, are usually related to quality or shipment issues and are recorded as a reduction of revenue. The Company generally does not recognize significant return obligations due to their infrequent nature.Contract BalancesThe Company’s contract assets consist of unbilled amounts associated with variable pricing arrangements in the Asia Pacific region. Once pricing is finalized, contract assets are transferred to accounts rece