Company: SSUP
Filing Date: 2025-03-06
Form Type: 10-K
Source: 0000950170-25-034599
Chunk: 88

Company: SUPERIOR INDUSTRIES INTERNATIONAL INC
Filing Date: 2025-03-06
Form: 10-K
Item: Item 1B
Chunk 88
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 amounts exchanged by the parties and, therefore, are not a direct measure of the exposure to the financial risks described above. The amounts exchanged are calculated by reference to the notional amounts and by other terms of the derivatives.  The following table summarizes the gain or loss recognized in other comprehensive income (loss) (“OCI (OCL)”), the amounts reclassified from accumulated OCI or OCL into earnings, and the amounts recognized directly into earnings for the years ended December 31, 2024 and 2023: 

        Year Ended December 31,
         
        2024

        2023

        Derivatives designated as hedging instruments:

        Amount of gain or (loss) recognized in OCI (OCL) on derivatives, net of tax
         
        $
        (32,213
        )
         
        $
        40,015

        Amount of pre-tax gain or (loss) reclassified from accumulated OCI (OCL) into:

        Cost of sales

        26,827

        22,956

        Interest expense, net

        4,293

        4,893

        Derivatives not designated as hedging instruments:

        Amount of pre-tax gain or (loss) recognized in other income (expense), net

        (3,026
        )

        5,158

48

The Company estimates approximately $20.6 million included in OCI or OCL at December 31, 2024 will be reclassified into net income (loss) within the following twelve months. The Company has derivative liabilities associated with embedded features within its redeemable preferred stock (refer to Note 10 “Redeemable Shares”) and its term loan facility (refer to Note 8 “Debt and Other Financing Arrangements”).  Assets and Liabilities Measured at Fair Value on a Nonrecurring Basis Assets may be measured at fair value on a nonrecurring basis. These assets include long-lived assets and intangible assets, which may be written down to fair value as a result of impairment. The Company did not recognize any impairment charges for the years ended December 31, 2024 and 2023.  Financial Instruments Not Carried at Fair ValueDebt Instruments The carrying values of the Company’s debt instruments vary from their fair values. The fair values are determined by reference to quoted prices for similar instruments (Level 2). The estimated fair value, as well as the carrying value, of the