Cooper-Standard Holdings Inc. 2024 10-K Filed

TL;DR

COOPER-STANDARD (CPS) FILED 2024 10-K: $2.26B ASSETS, $1.30B LIABILITIES. HEALTHY BALANCE SHEET.

AI Summary

Cooper-Standard Holdings Inc. filed its 2024 10-K on February 14, 2025, reporting its financial performance for the fiscal year ending December 31, 2024. The company, a manufacturer of motor vehicle parts and accessories, is incorporated in Delaware and headquartered in Northville, Michigan. Key financial figures for the period include total assets of $2.26 billion and total liabilities of $1.30 billion, resulting in total equity of $957 million.

Why It Matters

This filing provides investors and stakeholders with a comprehensive overview of Cooper-Standard's financial health and operational performance for the 2024 fiscal year, crucial for investment decisions.

Risk Assessment

Risk Level: medium — The company's financial statements indicate significant liabilities relative to assets, which could pose a medium-term risk.

Key Numbers

• $2.26B — Total Assets (Represents the total value of the company's assets as of December 31, 2024.)
• $1.30B — Total Liabilities (Represents the total obligations of the company as of December 31, 2024.)
• $957M — Total Equity (Represents the net worth of the company, calculated as Total Assets minus Total Liabilities.)
• 10-K — Filing Type (Annual report filed with the SEC.)
• 2024 — Fiscal Year (The period covered by the financial statements.)

Key Players & Entities

• Cooper-Standard Holdings Inc. (company) — Filer of the 10-K
• 2024-12-31 (date) — Fiscal year end
• 2025-02-14 (date) — Filing date
• MOTOR VEHICLE PARTS & ACCESSORIES (industry) — Company's SIC code
• 40300 TRADITIONS DRIVE, NORTHVILLE, MI 48168 (location) — Company's business address
• $2.26 billion (dollar_amount) — Total assets
• $1.30 billion (dollar_amount) — Total liabilities
• $957 million (dollar_amount) — Total equity

FAQ

Key Financial Figures

• $0.001 — ich registered Common Stock, par value $0.001 per share CPS New York Stock Exchange
• $50 million — average annual savings of approximately $50 million each of the past five years by enhancin
• $82.8 — les (Dollar amounts in millions) 2024 $82.8 3.0% 2023 $84.1 3.0% 2022 $80.5 3.2%
• $84.1 — nts in millions) 2024 $82.8 3.0% 2023 $84.1 3.0% 2022 $80.5 3.2% Intellectual Pr
• $80.5 — 2024 $82.8 3.0% 2023 $84.1 3.0% 2022 $80.5 3.2% Intellectual Property We believ

Filing Documents

• cps-20241231.htm (10-K) — 2518KB
• exhibit10472024performance.htm (EX-10.47) — 70KB
• exhibit191securitiestradin.htm (EX-19.1) — 82KB
• exhibit211q42024.htm (EX-21.1) — 37KB
• exhibit231q42024.htm (EX-23.1) — 4KB
• exhibit311q42024.htm (EX-31.1) — 17KB
• exhibit312q42024.htm (EX-31.2) — 17KB
• exhibit32q42024.htm (EX-32) — 9KB
• cps-20241231_g1.jpg (GRAPHIC) — 30KB
• cps-20241231_g2.jpg (GRAPHIC) — 31KB
• cps-20241231_g3.jpg (GRAPHIC) — 30KB
• cps-20241231_g4.jpg (GRAPHIC) — 26KB
• cps-20241231_g5.jpg (GRAPHIC) — 27KB
• cps-20241231_g6.jpg (GRAPHIC) — 27KB
• cps-20241231_g7.jpg (GRAPHIC) — 85KB
• image.jpg (GRAPHIC) — 21KB
• image_1.jpg (GRAPHIC) — 2KB
• image_11.jpg (GRAPHIC) — 15KB
• 0001320461-25-000033.txt ( ) — 17031KB
• cps-20241231.xsd (EX-101.SCH) — 107KB
• cps-20241231_cal.xml (EX-101.CAL) — 112KB
• cps-20241231_def.xml (EX-101.DEF) — 857KB
• cps-20241231_lab.xml (EX-101.LAB) — 1389KB
• cps-20241231_pre.xml (EX-101.PRE) — 1219KB
• cps-20241231_htm.xml (XML) — 2567KB

Risk Factors

Item 1A. Risk Factors 11

Unresolved Staff Comments

Item 1B. Unresolved Staff Comments 21

Cybersecurity

Item 1C. Cybersecurity 21

Properties

Item 2. Properties 23

Legal Proceedings

Item 3. Legal Proceedings 23

Mine Safety Disclosures

Item 4. Mine Safety Disclosures 23 PART II

Market for Registrant's Common Equity, Related Stockholder Matters and Issuer Purchases of Equity Securities

Item 5. Market for Registrant's Common Equity, Related Stockholder Matters and Issuer Purchases of Equity Securities 24

[Reserved]

Item 6. [Reserved] 25

Management's Discussion and Analysis of Financial Condition and Results of Operations

Item 7. Management's Discussion and Analysis of Financial Condition and Results of Operations 26

Quantitative and Qualitative Disclosures About Market Risk

Item 7A. Quantitative and Qualitative Disclosures About Market Risk 38

Financial Statements and Supplementary Data

Item 8. Financial Statements and Supplementary Data 40

Changes in and Disagreements with Accountants on Accounting and Financial Disclosure

Item 9. Changes in and Disagreements with Accountants on Accounting and Financial Disclosure 85

Controls and Procedures

Item 9A. Controls and Procedures 85

Other Information

Item 9B. Other Information 85

Disclosure Regarding Foreign Jurisdictions that Prevent Inspections

Item 9C. Disclosure Regarding Foreign Jurisdictions that Prevent Inspections 85 PART III

Directors, Executive Officers and Corporate Governance

Item 10. Directors, Executive Officers and Corporate Governance 86

Executive Compensation

Item 11. Executive Compensation 86

Security Ownership of Certain Beneficial Owners and Management and Related Stockholder Matters

Item 12. Security Ownership of Certain Beneficial Owners and Management and Related Stockholder Matters 86

Certain Relationships and Related Transactions, and Director Independence

Item 13. Certain Relationships and Related Transactions, and Director Independence 86

Principal Accounting Fees and Services

Item 14. Principal Accounting Fees and Services 86 PART IV

Exhibits and Financial Statement Schedules

Item 15. Exhibits and Financial Statement Schedules 87

Signatures

Signatures 95 PART I

Business

Item 1. Business Cooper-Standard Holdings Inc. (together with its consolidated subsidiaries, the "Company," "Cooper Standard," "we," "our" or "us") is a leading manufacturer of sealing and fluid handling systems (consisting of fuel and brake delivery systems and fluid transfer systems). Our products are primarily designed for passenger vehicles and light trucks that are manufactured by global automotive original equipment manufacturers ("OEMs") and replacement markets. Nearly all of our activities are conducted through our subsidiaries. Cooper Standard is listed on the New York Stock Exchange ("NYSE") under the ticker symbol "CPS." The Company has approximately 22,000 employees, including 2,500 contingent workers, across 124 facilities in 20 countries. We believe we are the largest global producer of sealing systems, the second largest global producer of the types of fuel and brake delivery products we manufacture, and the third largest global producer of the types of fluid transfer systems we manufacture. We design and manufacture our products in each major region of the world through a disciplined and sustained approach to engineering and operational excellence. We operate in 75 manufacturing locations and 49 design, engineering, administrative and logistics locations. Approximately 86% of our sales in 2024 were to OEMs. Our largest customers are Ford Motor Company ("Ford"), General Motors Company ("GM"), Stellantis, Volkswagen Group, Mercedes-Benz, and Renault-Nissan. Our other customers include BMW, Jaguar/Land Rover, Hyundai, Toyota, and Rivian. Our OEMs in China include BYD, Geely, and Chery. The remaining 14% of our 2024 sales were primarily to Tier I and Tier II automotive suppliers, non-automotive customers, and replacement market distributors. The Company's products are featured on more than 430 nameplates globally. Prior to January 1, 2024, our organizational structure primarily consisted of a global automotive business ("Automotive") and the Industri

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