Company: CPS
Filing Date: 2025-06-12
Form Type: CORRESP
Source: 0001320461-25-000116
Chunk: 1

Company: Cooper-Standard Holdings Inc.
Filing Date: 2025-06-12
Form: CORRESP
Chunk 1
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 on page 34 of the Form 10-K reflect the segment profit measure used by our Chief Operating Decision Maker to assess performance and allocate resources, as required under ASC 280. These amounts are presented on a reportable segment basis and do not include results from non-reportable segments and certain corporate-level activity.

Separately, the consolidated Adjusted EBITDA amounts disclosed on page 38 of the Form 10-K represent a company-wide non-GAAP performance measure that includes contributions from non-reportable segments and corporate-level activity not reflected in the reportable segment-level results. We acknowledge that the total of reportable segment Adjusted EBITDA differs from consolidated Adjusted EBITDA and recognize that disclosing a subtotal of segment Adjusted EBITDA outside the financial statement footnotes could be viewed as a separate non-GAAP measure requiring its own reconciliation to the most directly comparable GAAP financial measure.

To address the Staff’s comment, we will revise our presentation in future filings, beginning with our Quarterly Report on Form 10-Q for the period ending June 30, 2025, by removing the “Total for reportable segments” line item from the segment adjusted EBITDA table in our Management’s Discussion and Analysis of Financial Condition and Results of Operations (“MD&A”) as currently presented on page 34 of the Form 10-K. Additionally, we will present line items for “Corporate, eliminations and other” and “Consolidated Adjusted EBITDA,” with the latter aligning with the consolidated

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Adjusted EBITDA measure that is reconciled to net loss as currently presented in our non-GAAP reconciliation table on page 38 of the Form 10-K. The “Corporate, eliminations and other” line item will capture corporate-level expenses, earnings from non-reportable segments, and other activity necessary to reconcile the segment-level amounts to consolidated Adjusted EBITDA.

Liquidity and Capital Resources

Cash Flows, page 35

2. Please provide a more informative analysis and discussion of changes in operating, investing, and financing cash flows for each period presented in future filings. In doing so, explain the underlying reasons and implications of material changes between periods to provide investors with an understanding of trends and variability in cash flows. Ensure that your disclosures are not merely a recitation of changes evident from the financial statements. Refer to Item 5.B.1 of Form 20-F and Section IV.B of SEC Release No. 33-8350.

Response: We