Company: CPS
Filing Date: 2025-10-31
Form Type: 10-Q
Source: 0001320461-25-000156
Chunk: 81

Company: Cooper-Standard Holdings Inc.
Filing Date: 2025-10-31
Form: 10-Q
Item: Part I, Item 8
Chunk 81
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2024 DivestitureIn the fourth quarter of 2024, the Company completed the sale of its non-core Canadian tooling business. Under the terms of the agreement, total cash proceeds of $2,558 were received during the nine months ended September 30, 2025. A contingent payment of up to $2,000 may be received in the future based on the Company issuing a set value of purchase orders to the buyer over a specified period.During the nine months ended September 30, 2025, the Company recognized a net gain of $98 related to final purchase price adjustments associated with the sale. This amount is included in selling, engineering & administrative expenses in the condensed consolidated statement of operations.

3. Revenue

Revenue is recognized for manufactured parts at a point in time, generally when products are shipped or delivered. The Company usually enters into agreements with customers to produce products at the beginning of a vehicle’s life. These agreements, along with blanket purchase orders and related documents, generally establish the annual terms, including pricing, related to a vehicle model. Customers typically pay for parts based on customary business practices with payment terms generally between 30 and 90 days.The passenger and light duty customer group consists of sales to automotive OEMs and automotive suppliers, while the commercial customer group represents sales to OEMs of on- and off-highway commercial equipment and vehicles. The other customer group includes sales related to specialty and adjacent markets.Revenue by customer group for the three months ended September 30, 2025 was as follows:Sealing SystemsFluid Handling SystemsOtherConsolidatedPassenger and Light Duty$342,708 $323,478 $— $666,186 Commercial5,533 2,380 1,765 9,678 Other537 2,708 16,393 19,638 Revenue$348,778 $328,566 $18,158 $695,502 

9

NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS (Continued)(Unaudited)(Dollar amounts in thousands except per share and share amounts)

Revenue by customer group for the nine months ended September 30, 2025 was as follows:Sealing SystemsFluid Handling SystemsOtherConsolidatedPassenger and Light Duty$1,034,854 $941,078 $— $1,975,932 Commercial21,100 6,744 5,647 33,491 Other1,