Company: CPS
Filing Date: 2025-02-14
Form Type: 10-K
Source: 0001320461-25-000033
Chunk: 113

Company: Cooper-Standard Holdings Inc.
Filing Date: 2025-02-14
Form: 10-K
Item: Item 8
Chunk 113
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 in the consolidated balance sheets. Amounts outstanding under receivable transfer agreements entered into by various locations as of the period end were as follows:December 31, 2024December 31, 2023Off-balance sheet arrangements$53,377 $47,903 

62

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

Accounts receivable factored and related costs throughout the period were as follows:Off-Balance Sheet ArrangementsYear Ended December 31,20242023Accounts receivable factored$497,408 $420,119 Off-Balance Sheet ArrangementsYear Ended December 31,202420232022Costs$2,904 $2,226 $710 

As of December 31, 2024 and 2023, cash collections on behalf of the Factor that had yet to be remitted were $838 and $6,466, respectively, and are reflected in other current assets as restricted cash in the consolidated balance sheets. 

11. Fair Value Measurements and Financial Instruments

Fair Value MeasurementsFair value is defined as an exit price, representing the amount that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants. As such, fair value is a market-based measurement that should be determined based upon assumptions that market participants would use in pricing an asset or liability. As a basis for considering such assumptions, a three-tier fair value hierarchy is utilized, which prioritizes the inputs used in measuring fair value as follows:Level 1:Observable inputs such as quoted prices in active markets;Level 2:Inputs, other than quoted prices in active markets, that are observable either directly or indirectly; andLevel 3:Unobservable inputs in which there is little or no market data, which require the reporting entity to develop its own assumptions.Items Measured at Fair Value on a Recurring BasisEstimates of the fair value of foreign currency derivative instruments are determined using exchange traded prices and rates. The Company also considers the risk of non-performance in the estimation of fair value and includes an adjustment for non-performance risk in the measure of fair value of derivative instruments. In certain instances where market data is not available, the Company uses management judgment to develop assumptions that are used to determine fair value. Fair value measurements and the fair value hierarchy level for the Company’s assets and liabilities measured or disclosed at fair value on a recurring basis as of December 31