Company: CVGI
Filing Date: 2025-11-10
Form Type: 10-Q
Source: 0001628280-25-051174
Chunk: 61

Company: Commercial Vehicle Group, Inc.
Filing Date: 2025-11-10
Form: 10-Q
Item: Item 8
Chunk 61
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 that have not yet been issued or made available for issuance. This ASU will result in the required additional disclosures being included in our consolidated financial statements, once adopted.In November 2024, the Financial Accounting Standards Board (“FASB”) issued ASU No. 2024-03, Income Statement - Reporting Comprehensive Income-Expense Disaggregation (Subtopic 220-40): Disaggregation of Income Statement Expenses. Additionally, in January 2025, the FASB issued ASU No. 2025-01 to clarify the effective date of ASU No. 2024-03. This ASU updates financial reporting to require public business entities to disclose additional information about specific expense categories in the notes to financial statements at interim and annual reporting periods. This information is generally not presented in the financial statements today. The ASU also requires disclosure of the total amount of selling expenses and our definition of selling expenses. The standard is effective for fiscal years beginning after December 15, 2026, and interim periods within fiscal years beginning after December 15, 2027, with early adoption permitted. We are currently evaluating the impact of adopting this ASU on our consolidated financial statements and related disclosures.

3. Revenue Recognition 

We had outstanding customer accounts receivable, net of allowances, of $90.6 million as of September 30, 2025 and $118.7 million as of December 31, 2024. We generally do not have material other assets or liabilities associated with customer arrangements.Revenue Disaggregation - The following is the composition, by product category, of our revenues: Three Months Ended September 30, 2025Global SeatingGlobal Electrical SystemsTrim Systems and ComponentsTotalSeats$67,903 $— $— $67,903 Electrical wire harnesses, panels and assemblies804 49,491 — 50,295 Plastic & Trim components— — 26,282 26,282 Mirrors, wipers and controls— — 8,009 8,009 Total$68,707 $49,491 $34,291 $152,489 Three Months Ended September 30, 2024Global SeatingGlobal Electrical SystemsTrim Systems and ComponentsTotalSeats$75,704 $— $— $75,704 Electrical wire harnesses, panels and assemblies939 46,714 — 47,653 Plastic & Trim components— —