Company: CVGI
Filing Date: 2025-05-06
Form Type: 10-Q
Source: 0001628280-25-022764
Chunk: 80

Company: Commercial Vehicle Group, Inc.
Filing Date: 2025-05-06
Form: 10-Q
Item: Item 2
Chunk 80
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 changes on cash337 (993)Net increase (decrease) in cash$(6,417)$8,968 

Operating activities. For the three months ended March 31, 2025, net cash provided by operating activities was $15.2 million compared to net cash used in operating activities of $2.4 million for the three months ended March 31, 2024. Net cash provided by operating activities is primarily attributable to a decrease in working capital for the three months ended March 31, 2025 as compared to an increase in working capital for the three months ended March 31, 2024. 

Investing activities. For the three months ended March 31, 2025, net cash used in investing activities was $3.8 million compared to $1.9 million for the three months ended March 31, 2024. The increase was mainly due to $3.2 million proceeds from the sale of the Company's FinishTEK business received during the first quarter of 2024 offsetting capital expenditures. In 2025, we expect capital expenditures to be in the range of $10 million to $15 million.

Financing activities. For the three months ended March 31, 2025, net cash used in financing activities was $18.1 million compared to net cash provided by financing activities of $14.2 million for the three months ended March 31, 2024. Decrease in net cash provided by financing activities in the three months ended March 31, 2025 as compared to the three months ended March 31, 2024 is primarily attributable to partial repayment of the revolving credit facility in 2025.

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Debt and Credit Facilities

The debt and credit facilities descriptions in Note 4, Debt are incorporated in this section by reference. 

Critical Accounting Policies and Estimates

Our consolidated financial statements are prepared in conformity with accounting principles generally accepted in the United States of America (“U.S. GAAP”). For a comprehensive discussion of our significant accounting policies, see "Note 1. Significant Accounting Policies", to our consolidated financial statements in Item 8 in our 2024 Form 10-K.

Critical accounting estimates are those that are most important to the portrayal of our financial condition and results. These estimates require management's most difficult, subjective, or complex judgments, often as a result of the need to estimate matters that are inherently uncertain. We review the development, selection, and disclosure of our critical accounting estimates with the Audit