Company: CVGI
Filing Date: 2025-03-17
Form Type: 10-K
Source: 0001628280-25-012913
Chunk: 103

Company: Commercial Vehicle Group, Inc.
Filing Date: 2025-03-17
Form: 10-K
Item: Item 8
Chunk 103
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 Foreign exchange contract not designated as hedging instruments$4,697 $5,023 $16,608 $16,806 We consider the impact of our credit risk on the fair value of the contracts, as well as the ability to execute obligations under the contract.

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The following table summarizes the fair value and presentation of derivatives in the Consolidated Balance Sheets at December 31:  Derivative AssetBalance SheetLocationFair Value20242023Foreign exchange contract designated as hedging instrumentsOther current assets$— $1,179 Foreign exchange contract designated as hedging instrumentsOther assets$— $139 Interest rate swap agreementOther assets$1,069 $1,073  Derivative LiabilityBalance SheetLocationFair Value20242023Foreign exchange contract designated as hedging instrumentsAccrued liabilities and other$5,648 $— Foreign exchange contract designated as hedging instrumentsOther long-term liabilities$50 $— Foreign exchange contract not designated as hedging instrumentsAccrued liabilities and other$53 $304  Derivative EquityBalance SheetLocationFair Value20242023Foreign exchange contract designated as hedging instrumentsAccumulated other comprehensive loss$(2,119)$1,354 Interest rate swap agreementsAccumulated other comprehensive loss$897 $3,484 The following table summarizes the effect of derivative instruments on the Consolidated Statements of Operations:20242023Location of Gain (Loss)Recognized on DerivativesAmount of Gain (Loss)Recognized in Income onDerivativesForeign exchange contract designated as hedging instrumentsCost of revenues$(2,454)$5,339 Interest rate swap agreementsInterest expense$1,498 $1,466 Interest rate swap agreements settled in 2022Interest expense$755 $756 Foreign exchange contract not designated as hedging instrumentsOther (income) expense$281 $(220)We consider the impact of our credit risk on the fair value of the contracts, as well as our ability to honor obligations under the contract.

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Other Fair Value MeasurementsThe fair value of long-term debt obligations is based on a fair value model utilizing observable inputs. Based on these inputs, our long-term debt fair value as disclosed is classified as Level 2. The carrying amounts and fair values of our long-term debt obligations are as follows:December 31, 2024December 31, 2023CarryingAmountFair ValueCar