Company: CVGI
Filing Date: 2025-05-06
Form Type: 10-Q
Source: 0001628280-25-022764
Chunk: 44

Company: Commercial Vehicle Group, Inc.
Filing Date: 2025-05-06
Form: 10-Q
Item: Item 8
Chunk 44
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gregation (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 $119.5 million as of March 31, 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 March 31, 2025Global SeatingGlobal Electrical SystemsTrim Systems and ComponentsTotalSeats$72,702 $— $— $72,702 Electrical wire harnesses, panels and assemblies706 50,453 — 51,159 Plastic & Trim components— — 35,723 35,723 Mirrors, wipers and controls— — 10,211 10,211 Total$73,408 $50,453 $45,934 $169,795 Three Months Ended March 31, 2024Global SeatingGlobal Electrical SystemsTrim Systems and ComponentsTotalSeats$80,267 $— $— $80,267 Electrical wire harnesses, panels and assemblies530 58,726 — 59,256 Plastic & Trim components— — 41,655 41,655 Mirrors, wipers and controls— — 13,448 13,448 Total$80,797 $58,726 $55,103 $194,626 

4. Debt 

Debt consisted of the following:March 31, 2025December