Company: CPS
Filing Date: 2025-02-14
Form Type: 10-K
Source: 0001320461-25-000033
Chunk: 74

Company: Cooper-Standard Holdings Inc.
Filing Date: 2025-02-14
Form: 10-K
Item: Item 7
Chunk 74
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 by management and in accordance with prevailing market conditions and federal securities laws and regulations. We expect to fund any future repurchases from cash on hand and future cash flows from operations. We are not obligated to acquire a particular amount of securities, and the 2018 Program may be discontinued at any time at our discretion. The 2018 Program was effective beginning November 2018. As of December 31, 2024, we had approximately $98.7 million of repurchase authorization under the 2018 Program.

We did not make any repurchases under the 2018 Program during the years ended December 31, 2024, 2023 or 2022. 

Contractual Obligations

Our contractual obligations consist of legal commitments requiring us to make fixed or determinable cash payments, regardless of the contractual requirements of the vendor to provide future goods or services. Except as otherwise disclosed, this table does not include information on our recurring purchase of materials for use in production because our raw materials purchase contracts typically do not require fixed or minimum quantities.

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The following table summarizes the total amounts due in future periods under all debt agreements at nominal value, undiscounted finance lease commitments and other contractual obligations as of December 31, 2024: Payment due by period TotalLess than1 year1-3 years3-5 yearsMore than5 years (Dollar amounts in millions)Debt obligations$1,091.0 $39.8 $1,051.2 $— $— Interest on debt obligations250.6 109.1 141.5 — — Operating lease obligations112.9 24.5 33.0 23.0 32.3 Finance lease obligations23.6 3.6 6.3 6.6 7.0 Total$1,478.1 $177.0 $1,232.0 $29.6 $39.3  

In addition to our contractual obligations and commitments set forth in the table above, we have employment arrangements with certain key executives that provide for continuity of management. These arrangements include payments of multiples of annual salary, certain incentives and continuation of benefits upon the occurrence of specified events in a manner believed to be consistent with comparable companies. As of December 31, 2024, the Company had additional operating leases, primarily for real estate, that have not yet commenced with undiscounted lease payments of approximately $4.0