Company: CPS
Filing Date: 2025-10-31
Form Type: 10-Q
Source: 0001320461-25-000156
Chunk: 57

Company: Cooper-Standard Holdings Inc.
Filing Date: 2025-10-31
Form: 10-Q
Item: Part I, Item 1
Chunk 57
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 compared to $49.7 million, or 7.3% of sales, for the three months ended September 30, 2024. The increase, in both dollar terms and as a percentage of sales, was primarily due to higher stock-based compensation driven by stock price appreciation during the quarter, which resulted in approximately $4.0 million of additional expense.

Restructuring Charges. Restructuring charges for the three months ended September 30, 2025 increased $2.0 million compared to the three months ended September 30, 2024. The increase was primarily driven by higher restructuring costs related to employee severance and other related exit costs in our Sealing Systems segment.

Pension Settlement Credit. A one-time pension settlement credit of $2.2 million was recorded in the three months ended September 30, 2024, reflecting a refund of plan assets received from the insurance company administering the group annuity contract related to the 2024 termination of the U.S. pension plan. See Note 9. “Pensions and Postretirement Benefits Other Than Pensions” to the unaudited condensed consolidated financial statements included in Part I, Item 1 of this Report for additional information.

Other Expense, Net. Other expense, net, for the three months ended September 30, 2025 decreased $3.0 million compared to the three months ended September 30, 2024. The decrease was primarily driven by lower foreign currency losses.

Income Tax Expense. Income tax expense for the three months ended September 30, 2025 was $3.9 million on losses before income taxes of $3.8 million compared to an income tax expense of $2.9 million on losses before income taxes of $8.0 million for the three months ended September 30, 2024. The effective tax rate for the three months ended September 30, 2025 differed from the effective tax rate for the three months ended September 30, 2024 primarily due to the geographic mix of pre-tax losses, the inability to record a tax benefit for pre-tax losses in the U.S. and certain foreign jurisdictions due to valuation allowances and other permanent items.

Nine Months Ended September 30, 2025 Compared with Nine Months Ended September 30, 2024

Sales

Nine Months Ended September 30,Variance Due To:20252024ChangeVolume/Mix*Foreign Exchange(dollar amounts in thousands)Total sales$2,068,544 $2,070,