Company: CVGI
Filing Date: 2025-05-06
Form Type: 10-Q
Source: 0001628280-25-022764
Chunk: 11

Company: Commercial Vehicle Group, Inc.
Filing Date: 2025-05-06
Form: 10-Q
Item: Item 1
Chunk 11
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 income (loss) and will be recognized over the life of the hedged transactions. The fair values of our derivative assets and liabilities  measured on a recurring basis are categorized as follows: March 31, 2025December 31, 2024TotalLevel 1Level 2Level 3TotalLevel 1Level 2Level 3Assets:Foreign exchange contract designated as hedging instruments$66 $— $66 $— $— $— $— $— Interest rate swap agreement settled in 2025$— $— $— $— $1,069 $— $1,069 $— Liabilities:Foreign exchange contract designated as hedging instruments$2,179 $— $2,179 $— $5,698 $— $5,698 $— Foreign exchange contract not designated as hedging instruments$16 $— $16 $— $53 $— $53 $— The following table summarizes the notional amount of our open foreign exchange contracts:March 31, 2025December 31, 2024U.S. $EquivalentU.S. $EquivalentFair ValueU.S. $EquivalentU.S. $EquivalentFair ValueCommitments to buy or sell currencies - Foreign exchange contract designated as hedging instruments$47,735 $48,436 $54,359 $55,251 Commitments to buy or sell currencies - Foreign exchange contract not designated as hedging instruments$9,425 $9,346 $4,697 $5,023 The following table summarizes the fair value and presentation of derivatives in the Condensed Consolidated Balance Sheets:  Derivative AssetBalance SheetLocationFair ValueMarch 31, 2025December 31, 2024Foreign exchange contract designated as hedging instrumentsOther current assets$66 $— Interest rate swap agreement settled in 2025Other assets, net$— $1,069  Derivative LiabilityBalance SheetLocationFair ValueMarch 31, 2025December 31, 2024Foreign exchange contract designated as hedging instrumentsAccrued liabilities and other$2,179 $5,648 Foreign exchange contract designated as hedging instrumentsOther long-term liabilities$— $50 Foreign exchange contracts not designated as hedging instrumentsAccrued liabilities and other$