Company: CVGI
Filing Date: 2025-03-17
Form Type: 10-K
Source: 0001628280-25-012913
Chunk: 94

Company: Commercial Vehicle Group, Inc.
Filing Date: 2025-03-17
Form: 10-K
Item: Item 8
Chunk 94
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 with minimum order quantity requirements. Amount and Timing of Revenue Recognition - The transaction price is based on the consideration to which the Company will be entitled in exchange for transferring control of a product to the customer. This is defined in a purchase order or in a separate pricing arrangement and represents the stand-alone selling price. Our payment terms vary by customer. None of the Company's business arrangements as of December 31, 2024, contained a significant financing component. We typically do not have multiple performance obligations requiring us to allocate a transaction price.  We recognize revenue at the point in time when we satisfy a performance obligation by transferring control of a product to a customer, usually at a designated shipping point and in accordance with customer specifications. Estimates are made for variable consideration resulting from quality, delivery, discounts or other issues affecting the value of revenue and accounts receivable. This amount is estimated based on historical trends and current market conditions, and only amounts deemed collectible are recognized as revenues. Other Matters - Shipping and handling costs billed to customers are recorded in revenues and costs associated with outbound freight are generally accounted for as a fulfillment cost and are included in cost of revenues. We generally do not provide for extended warranties or material customer incentives. Our customers typically do not have a general right of return for our products. 

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We had outstanding customer accounts receivable, net of allowances, of $118.7 million as of December 31, 2024 and $129.3 million as of December 31, 2023. We generally do not have other assets or liabilities associated with customer arrangements.   Revenue Disaggregation - The following is the composition, by product category, of our revenues:Twelve Months Ended December 31, 2024Vehicle SolutionsElectrical SystemsAftermarket & AccessoriesTotalSeats$245,733 $— $66,194 $311,927 Electrical wire harnesses, panels and assemblies2,756 189,626 13,501 205,883 Plastic & Trim components152,413 — 5,176 157,589 Mirrors, wipers and controls3,262 — 44,694 47,956 Total$404,164 $189,626 $129,565 $723,355 Twelve Months Ended December 31, 2023Vehicle SolutionsElectrical SystemsAftermarket & AccessoriesTotalSeats$274,591 $— $71,114 $345,705 Electrical wire harnesses, panels