Company: CPS
Filing Date: 2025-05-02
Form Type: 10-Q
Source: 0001320461-25-000087
Chunk: 80

Company: Cooper-Standard Holdings Inc.
Filing Date: 2025-05-02
Form: 10-Q
Item: Part I, Item 8
Chunk 80
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 Months Ended March 31,20252024Non-designated foreign currency contracts$(615)$— 

9. Pensions and Postretirement Benefits Other Than Pensions

The components of net periodic benefit cost (income) for the Company’s defined benefit plans and other postretirement benefit plans were as follows: Pension BenefitsThree Months Ended March 31,20252024 U.S. Non-U.S. U.S. Non-U.S.Service cost$— $586 $— $598 Interest cost128 1,142 1,819 1,212 Expected return on plan assets— (197)(1,647)(336)Amortization of prior service cost and actuarial loss34 3 555 53 Net periodic benefit cost$162 $1,534 $727 $1,527 

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

Other Postretirement BenefitsThree Months Ended March 31,20252024U.S.Non-U.S.U.S.Non-U.S.Service cost$5 $69 $6 $45 Interest cost144 181 142 194 Amortization of prior service credit and actuarial (gain) loss(644)3 (730)4 Net periodic benefit (income) cost$(495)$253 $(582)$243 The service cost component of net periodic benefit cost (income) is included in cost of products sold and selling, administrative and engineering expenses in the condensed consolidated statements of operations. All other components of net periodic benefit cost (income) are included in other income (expense), net, in the condensed consolidated statements of operations for all periods presented.

The decrease in net periodic benefit cost for the U.S. defined benefit plan for the three months ended March 31, 2025 compared to the three months ended March 31, 2024, was primarily due to the April 2024 termination of the U.S. Pension Plan. As previously disclosed in the Company’s 2024 Annual Report, the Company further de-risked its retirement-related plans by transferring approximately $137,000 of pension benefit obligations and related plan assets to an insurance company. This transaction eliminated interest costs and amortization of actuarial losses and prior service cost for the transferred population, resulting in lower net periodic benefit cost beginning in 2025