View Filing Data

Print Document View Excel Document

Document and Entity Information - shares	6 Months Ended
Document and Entity Information - shares	Jun. 30, 2020	Jul. 30, 2020
Cover [Abstract]
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Jun. 30, 2020
Document Transition Report	false
Entity File Number	001-36127
Entity Registrant Name	COOPER-STANDARD HOLDINGS INC.
Entity Incorporation, State or Country Code	DE
Entity Tax Identification Number	20-1945088
Entity Address, Address Line One	40300 Traditions Drive
Entity Address, City or Town	Northville
Entity Address, State or Province	MI
Entity Address, Postal Zip Code	48168
City Area Code	248
Local Phone Number	596-5900
Title of 12(b) Security	Common Stock, par value $0.001 per share
Trading Symbol	CPS
Security Exchange Name	NYSE
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Large Accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	false
Entity Shell Company	false
Entity Common Stock, Shares Outstanding		16,896,453
Entity Central Index Key	0001320461
Amendment Flag	false
Document Fiscal Year Focus	2020
Document Fiscal Period Focus	Q2
Current Fiscal Year End Date	--12-31

CONDENSED CONSOLIDATED STATEMENTS OF NET INCOME - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2020	Jun. 30, 2019	Jun. 30, 2020	Jun. 30, 2019
Income Statement [Abstract]
Sales	$ 340,467	$ 764,698	$ 995,357	$ 1,642,693
Cost of products sold	400,838	666,828	1,012,585	1,429,318
Gross profit (loss)	(60,371)	97,870	(17,228)	213,375
Selling, administration & engineering expenses	68,271	74,170	138,942	161,144
Gain on sale of business	0	(189,910)	0	(189,910)
Amortization of intangibles	3,513	5,148	7,963	8,923
Restructuring charges	9,774	5,927	17,050	23,642
Impairment of assets held for sale	12,391	0	86,470	0
Other impairment charges	163	2,188	1,140	2,188
Operating (loss) profit	(154,483)	200,347	(268,793)	207,388
Interest expense, net of interest income	(12,771)	(11,575)	(23,008)	(23,507)
Equity in (losses) earnings of affiliates	(3,011)	1,891	(1,580)	4,249
Other expense, net	(4,701)	(1,781)	(8,141)	(2,577)
(Loss) income before income taxes	(174,966)	188,882	(301,522)	185,553
Income tax (benefit) expense	(38,982)	44,222	(53,099)	46,256
Net (loss) income	(135,984)	144,660	(248,423)	139,297
Net loss attributable to noncontrolling interests	1,765	545	3,616	493
Net (loss) income attributable to Cooper-Standard Holdings Inc.	$ (134,219)	$ 145,205	$ (244,807)	$ 139,790
Earnings per share
Basic	$ (7.93)	$ 8.39	$ (14.49)	$ 8.02
Diluted	$ (7.93)	$ 8.36	$ (14.49)	$ 7.99

CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (LOSS) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2020	Jun. 30, 2019	Jun. 30, 2020	Jun. 30, 2019
Net (loss) income	$ (135,984)	$ 144,660	$ (248,423)	$ 139,297
Currency translation adjustment	6,789	(5,828)	(22,100)	(3,858)
Benefit plan liabilities adjustment, net of tax	(716)	(2,947)	1,966	(1,560)
Fair value change of derivatives, net of tax	6,238	828	(3,838)	2,081
Other comprehensive income (loss), net of tax	12,311	(7,947)	(23,972)	(3,337)
Comprehensive (loss) income	(123,673)	136,713	(272,395)	135,960
Comprehensive loss attributable to noncontrolling interests	1,675	1,172	4,033	749
Comprehensive (loss) income attributable to Cooper-Standard Holdings Inc.	$ (121,998)	$ 137,885	$ (268,362)	$ 136,709

- Definition

Amount after tax of increase (decrease) in equity from transactions and other events and circumstances from net income (loss) and other comprehensive income (loss), attributable to noncontrolling interests. Excludes changes in equity resulting from investments by owners and distributions to owners.

+ References + Details

- Definition

Amount after tax of increase (decrease) in equity from transactions and other events and circumstances from net income and other comprehensive income. Excludes changes in equity resulting from investments by owners and distributions to owners.

+ References + Details

- Definition

Amount after tax and reclassification adjustments of other comprehensive income (loss).

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 220
-SubTopic 10
-Section 45
-Paragraph 1A
-Subparagraph (b)
-URI http://asc.fasb.org/extlink&oid=121641772&loc=SL7669619-108580

Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 505
-SubTopic 10
-Section 50
-Paragraph 2
-URI http://asc.fasb.org/extlink&oid=109259400&loc=d3e21463-112644

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 830
-SubTopic 30
-Section 45
-Paragraph 17
-URI http://asc.fasb.org/extlink&oid=118261656&loc=d3e32136-110900

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 220
-SubTopic 10
-Section S99
-Paragraph 2
-Subparagraph (SX 210.5-03(21))
-URI http://asc.fasb.org/extlink&oid=120395209&loc=SL114868664-224227

Reference 5: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 220
-SubTopic 10
-Section 55
-Paragraph 15
-URI http://asc.fasb.org/extlink&oid=121640130&loc=d3e1436-108581

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 830
-SubTopic 30
-Section 45
-Paragraph 20
-URI http://asc.fasb.org/extlink&oid=118261656&loc=d3e32211-110900

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 830
-SubTopic 30
-Section 50
-Paragraph 1
-URI http://asc.fasb.org/extlink&oid=6450520&loc=d3e32583-110901

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 220
-SubTopic 10
-Section 45
-Paragraph 1B
-Subparagraph (b)
-URI http://asc.fasb.org/extlink&oid=121641772&loc=SL7669625-108580

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 942
-SubTopic 220
-Section S99
-Paragraph 1
-Subparagraph (SX 210.9-04(23))
-URI http://asc.fasb.org/extlink&oid=120399700&loc=SL114874048-224260

Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 944
-SubTopic 220
-Section S99
-Paragraph 1
-Subparagraph (SX 210.7-04(19))
-URI http://asc.fasb.org/extlink&oid=120400993&loc=SL114874131-224263

+ Details

- Definition

The consolidated profit or loss for the period, net of income taxes, including the portion attributable to the noncontrolling interest.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 235
-SubTopic 10
-Section S99
-Paragraph 1
-Subparagraph (SX 210.4-08(g)(1)(ii))
-URI http://asc.fasb.org/extlink&oid=120395691&loc=d3e23780-122690

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 220
-SubTopic 10
-Section 45
-Paragraph 1A
-Subparagraph (a)
-URI http://asc.fasb.org/extlink&oid=121641772&loc=SL7669619-108580

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 205
-SubTopic 20
-Section 50
-Paragraph 7
-URI http://asc.fasb.org/extlink&oid=109222650&loc=SL51721683-107760

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 250
-SubTopic 10
-Section 50
-Paragraph 1
-Subparagraph (b)(2)
-URI http://asc.fasb.org/extlink&oid=109234566&loc=d3e22499-107794

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 825
-SubTopic 10
-Section 50
-Paragraph 28
-Subparagraph (f)
-URI http://asc.fasb.org/extlink&oid=75031198&loc=d3e14064-108612

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 810
-SubTopic 10
-Section 50
-Paragraph 1A
-Subparagraph (a)(1)
-URI http://asc.fasb.org/extlink&oid=109239629&loc=SL4573702-111684

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 942
-SubTopic 235
-Section S99
-Paragraph 1
-Subparagraph (SX 210.9-05(b)(2))
-URI http://asc.fasb.org/extlink&oid=120399901&loc=d3e537907-122884

Reference 8: http://www.xbrl.org/2003/role/exampleRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 31
-URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e8924-108599

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 220
-SubTopic 10
-Section 45
-Paragraph 1B
-Subparagraph (a)
-URI http://asc.fasb.org/extlink&oid=121641772&loc=SL7669625-108580

Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 250
-SubTopic 10
-Section 50
-Paragraph 9
-URI http://asc.fasb.org/extlink&oid=109234566&loc=d3e22663-107794

Reference 11: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 22
-URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e8736-108599

Reference 12: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 32
-Subparagraph (c)
-URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e8933-108599

Reference 13: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 810
-SubTopic 10
-Section 50
-Paragraph 1A
-Subparagraph (c)(1)
-URI http://asc.fasb.org/extlink&oid=109239629&loc=SL4573702-111684

Reference 14: http://www.xbrl.org/2003/role/exampleRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 810
-SubTopic 10
-Section 55
-Paragraph 4J
-URI http://asc.fasb.org/extlink&oid=120409616&loc=SL4591551-111686

Reference 15: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 30
-Subparagraph (b)
-URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e8906-108599

Reference 16: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 230
-SubTopic 10
-Section 45
-Paragraph 2
-URI http://asc.fasb.org/extlink&oid=121586364&loc=d3e3000-108585

Reference 17: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 810
-SubTopic 10
-Section 45
-Paragraph 19
-URI http://asc.fasb.org/extlink&oid=108774443&loc=SL4569616-111683

Reference 18: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 323
-SubTopic 10
-Section 50
-Paragraph 3
-Subparagraph (c)
-URI http://asc.fasb.org/extlink&oid=114001798&loc=d3e33918-111571

Reference 19: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 32
-Subparagraph (f)
-URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e8933-108599

Reference 20: http://www.xbrl.org/2003/role/exampleRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 810
-SubTopic 10
-Section 55
-Paragraph 4K
-URI http://asc.fasb.org/extlink&oid=120409616&loc=SL4591552-111686

Reference 21: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 250
-SubTopic 10
-Section 50
-Paragraph 8
-URI http://asc.fasb.org/extlink&oid=109234566&loc=d3e22658-107794

+ Details

CONDENSED CONSOLIDATED BALANCE SHEETS - USD ($) $ in Thousands	Jun. 30, 2020	Dec. 31, 2019
Current assets:
Cash and cash equivalents	$ 388,035	$ 359,536
Accounts receivable, net	270,925	423,155
Tooling receivable, net	117,849	148,175
Inventories	144,909	143,439
Prepaid expenses	36,449	34,452
Income tax receivable and refundable credits	61,371	32,763
Other current assets	64,802	60,750
Assets held for sale	30,337	0
Total current assets	1,114,677	1,202,270
Property, plant and equipment, net	884,576	988,277
Operating lease right-of-use assets, net	110,091	83,376
Goodwill	142,000	142,187
Intangible assets, net	70,872	84,369
Other assets	166,381	135,103
Total assets	2,488,597	2,635,582
Current liabilities:
Debt payable within one year	56,358	61,449
Accounts payable	243,903	426,055
Payroll liabilities	108,276	88,486
Accrued liabilities	101,938	119,841
Current operating lease liabilities	20,913	24,094
Liabilities held for sale	41,093	0
Total current liabilities	572,481	719,925
Long-term debt	982,897	746,179
Pension benefits	135,509	140,010
Postretirement benefits other than pensions	44,098	48,313
Long-term operating lease liabilities	88,995	60,234
Other liabilities	58,426	44,939
Total liabilities	1,882,406	1,759,600
7% Cumulative participating convertible preferred stock, $0.001 par value, 10,000,000 shares authorized; no shares issued and outstanding	0	0
Equity:
Common stock, $0.001 par value, 190,000,000 shares authorized; 18,959,899 shares issued and 16,894,090 shares outstanding as of June 30, 2020, and 18,908,566 shares issued and 16,842,757 outstanding as of December 31, 2019	17	17
Additional paid-in capital	494,628	490,451
Retained earnings	373,068	619,448
Accumulated other comprehensive loss	(277,296)	(253,741)
Total Cooper-Standard Holdings Inc. equity	590,417	856,175
Noncontrolling interests	15,774	19,807
Total equity	606,191	875,982
Total liabilities and equity	$ 2,488,597	$ 2,635,582

CONDENSED CONSOLIDATED BALANCE SHEETS (Parenthetical) - $ / shares	Jun. 30, 2020	Dec. 31, 2019
Statement of Financial Position [Abstract]
Cumulative participating preferred stock	7.00%	7.00%
Preferred stock, par value	$ 0.001	$ 0.001
Preferred stock, shares authorized	10,000,000	10,000,000
Preferred stock, shares issued	0	0
Preferred stock, shares outstanding	0	0
Common stock, par value	$ 0.001	$ 0.001
Common stock, shares authorized	190,000,000	190,000,000
Common stock, shares issued	18,959,899	18,908,566
Common stock, shares outstanding	16,894,090	16,842,757

CONDENSED CONSOLIDATED STATEMENTS OF CHANGES IN EQUITY - USD ($) $ in Thousands	Total	Cumulative Effect, Period of Adoption, Adjustment	Common Stock [Member]	Additional Paid-in Capital [Member]	Retained Earnings [Member]	AOCI Attributable to Parent [Member]	Cooper Standard Holdings Inc Equity [Member]	Noncontrolling Interest [Member]
Beginning balance (shares) at Dec. 31, 2018			17,554,737
Beginning balance at Dec. 31, 2018	$ 851,475	$ (2,607)	$ 17	$ 501,511	$ 569,215	$ (245,937)	$ 824,806	$ 26,669
Repurchase of common stock (shares)			(118,774)
Repurchase of common stock	(5,937)			(2,057)	(3,880)		(5,937)
Share-based compensation, Shares			85,937
Share-based compensation, net	(210)			4	(214)		(210)
Contribution from noncontrolling interests	2,112			0			0	2,112
Net income (loss)	(5,363)				(5,415)		(5,415)	52
Other Comprehensive Income (Loss), Net of Tax	4,610					4,239	4,239	371
Ending balance (shares) at Mar. 31, 2019			17,521,900
Ending balance at Mar. 31, 2019	844,080		$ 17	499,458	557,099	(241,698)	814,876	29,204
Beginning balance (shares) at Dec. 31, 2018			17,554,737
Beginning balance at Dec. 31, 2018	851,475	(2,607)	$ 17	501,511	569,215	(245,937)	824,806	26,669
Net income (loss)	139,297
Other Comprehensive Income (Loss), Net of Tax	(3,337)
Ending balance (shares) at Jun. 30, 2019			16,901,333
Ending balance at Jun. 30, 2019	949,324		$ 17	483,792	692,791	(249,018)	927,582	21,742
Beginning balance (shares) at Mar. 31, 2019			17,521,900
Beginning balance at Mar. 31, 2019	844,080		$ 17	499,458	557,099	(241,698)	814,876	29,204
Repurchase of common stock (shares)			(626,305)
Repurchase of common stock	(30,000)			(20,486)	(9,514)		(30,000)
Share-based compensation, Shares			5,738
Share-based compensation, net	3,523			3,522	1		3,523
Purchase of noncontrolling interest	(4,759)			1,298			1,298	(6,057)
Dividends declared to noncontrolling interests	233							233
Net income (loss)	144,660				145,205		145,205	(545)
Other Comprehensive Income (Loss), Net of Tax	(7,947)					(7,320)	(7,320)	(627)
Ending balance (shares) at Jun. 30, 2019			16,901,333
Ending balance at Jun. 30, 2019	$ 949,324		$ 17	483,792	692,791	(249,018)	927,582	21,742
Beginning balance (shares) at Dec. 31, 2019	16,842,757		16,842,757
Beginning balance at Dec. 31, 2019	$ 875,982	(1,573)	$ 17	490,451	619,448	(253,741)	856,175	19,807
Share-based compensation, Shares			41,785
Share-based compensation, net	1,874			1,874	0		1,874
Net income (loss)	(112,439)				(110,588)		(110,588)	(1,851)
Other Comprehensive Income (Loss), Net of Tax	(36,283)					(35,776)	(35,776)	(507)
Ending balance (shares) at Mar. 31, 2020			16,884,542
Ending balance at Mar. 31, 2020	$ 727,561		$ 17	492,325	507,287	(289,517)	710,112	17,449
Beginning balance (shares) at Dec. 31, 2019	16,842,757		16,842,757
Beginning balance at Dec. 31, 2019	$ 875,982	$ (1,573)	$ 17	490,451	619,448	(253,741)	856,175	19,807
Net income (loss)	(248,423)
Other Comprehensive Income (Loss), Net of Tax	$ (23,972)
Ending balance (shares) at Jun. 30, 2020	16,894,090		16,894,090
Ending balance at Jun. 30, 2020	$ 606,191		$ 17	494,628	373,068	(277,296)	590,417	15,774
Beginning balance (shares) at Mar. 31, 2020			16,884,542
Beginning balance at Mar. 31, 2020	727,561		$ 17	492,325	507,287	(289,517)	710,112	17,449
Share-based compensation, Shares			9,548
Share-based compensation, net	2,303			2,303	0		2,303
Net income (loss)	(135,984)				(134,219)		(134,219)	(1,765)
Other Comprehensive Income (Loss), Net of Tax	$ 12,311					12,221	12,221	90
Ending balance (shares) at Jun. 30, 2020	16,894,090		16,894,090
Ending balance at Jun. 30, 2020	$ 606,191		$ 17	$ 494,628	$ 373,068	$ (277,296)	$ 590,417	$ 15,774

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS € in Thousands, $ in Thousands	6 Months Ended
	Jun. 30, 2020 USD ($)	Jun. 30, 2019 USD ($)
Operating Activities:
Net (loss) income	$ (248,423)	$ 139,297
Adjustments to reconcile net income to net cash (used in) provided by operating activities:
Depreciation	72,260	65,550
Amortization of intangibles	7,963	8,923
Gain on sale of business	0	(189,910)
Impairment of assets held for sale	86,470	0
Other impairment charges	1,140	2,188
Share-based compensation expense	4,935	6,482
Equity in earnings of affiliates, net of dividends related to earnings	6,825	668
Deferred income taxes	(29,052)	18,803
Other	2,053	2,030
Changes in operating assets and liabilities	(30,405)	(62,997)
Net cash used in operating activities	(126,234)	(8,966)
Investing activities:
Capital expenditures	(62,874)	(95,496)
Acquisition of businesses, net of cash acquired	0	(452)
Proceeds from sale of business	0	243,362
Proceeds from sale of fixed assets and other	817	2,099
Net cash (used in) provided by investing activities	(62,057)	149,513
Financing activities:
Proceeds from issuance of long-term debt, net of discount	245,000	0
Principal payments on long-term debt	(3,081)	(2,067)
Decrease in short-term debt, net	(3,042)	(47,351)
Debt issuance costs	(4,904)	0
Purchase of noncontrolling interests	0	4,797
Repurchase of common stock	0	(36,550)
Taxes withheld and paid on employees' share-based payment awards	(516)	(2,733)
Other	(807)	2,277
Net cash provided by (used in) financing activities	232,650	(91,221)
Effects of exchange rate changes on cash, cash equivalents and restricted cash	(4,036)	(2,882)
Changes in cash, cash equivalents and restricted cash	40,323	46,444
Cash, cash equivalents and restricted cash reclassified to assets held for sale	(11,278)	0
Cash, cash equivalents and restricted cash at beginning of period	361,742	267,399
Cash, cash equivalents and restricted cash at end of period	$ 390,787	$ 313,843

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS RECONCILIATION OF CASH, CASH EQUIVALENTS AND RESTRICTED CASH - USD ($) $ in Thousands	Jun. 30, 2020	Dec. 31, 2019
Reconciliation of Cash, Cash Equivalents and Restricted Cash [Abstract]
Cash and cash equivalents	$ 388,035	$ 359,536
Restricted cash included in other current assets	16	12
Restricted cash included in other assets	2,736	2,194
Total cash, cash equivalents and restricted cash shown in the statement of cash flows	$ 390,787	$ 361,742

Overview

6 Months Ended

Jun. 30, 2020

Accounting Policies [Abstract]

Overview

Basis of Presentation

Cooper-Standard Holdings Inc. (together with its consolidated subsidiaries, the “Company” or “Cooper Standard”), through its wholly-owned subsidiary, Cooper-Standard Automotive Inc. (“CSA U.S.”), is a leading manufacturer of sealing, fuel and brake delivery, and fluid transfer systems. The Company’s products are primarily for use in passenger vehicles and light trucks that are manufactured by global automotive original equipment manufacturers (“OEMs”) and replacement markets. The Company conducts substantially all of its activities through its subsidiaries.

During the first quarter of 2019 and in prior periods, the Company also operated an anti-vibration systems (“AVS”) product line. On April 1, 2019, the Company completed the divestiture of its AVS product line.

The accompanying unaudited condensed consolidated financial statements have been prepared pursuant to the rules and regulations of the U.S. Securities and Exchange Commission (the “SEC”) for interim financial information and should be read in conjunction with the consolidated financial statements and notes thereto included in the Company’s Annual Report on Form 10-K for the year ended December 31, 2019 (the “2019 Annual Report”), as filed with the SEC. Accordingly, they do not include all of the information and footnotes required by accounting principles generally accepted in the United States (“U.S. GAAP”) for complete financial statements. These financial statements include all adjustments (consisting of normal, recurring adjustments) considered necessary for a fair presentation of the financial position and results of operations of the Company. The operating results for the interim period ended June 30, 2020 are not necessarily indicative of results for the full year. In preparing these financial statements, the Company has evaluated events and transactions for potential recognition or disclosure through the date the financial statements were issued.

Immaterial Correction of Errors

During the year ended December 31, 2019, the Company identified errors primarily related to periods prior to fiscal year 2019. The Company concluded these errors were not material individually or in the aggregate to any of the previously reported periods and, therefore, amendments of previously filed reports were not required. Corrections were made to the applicable prior periods reflected in the financial information herein.

The following table presents the impact of these corrections on the Company’s condensed consolidated statements of operations:


	Three Months Ended June 30, 2019										Six Months Ended June 30, 2019
	As previously reported		Adjustment		As corrected		As previously reported		Adjustment		As corrected
Sales	$	764,806	$	(108)	$	764,698	$	1,644,844	$	(2,151)	$	1,642,693



Income tax expense	44,239		(17)		44,222		46,570		(314)		46,256

Net loss attributable to noncontrolling interests	545		—		545		702		(209)		493
Net income attributable to Cooper-Standard Holdings Inc.	145,296		(91)		145,205		141,836		(2,046)		139,790

Earnings per share:
Basic	$	8.39	$	—	$	8.39	$	8.14	$	(0.12)	$	8.02
Diluted	$	8.36	$	—	$	8.36	$	8.11	$	(0.12)	$	7.99

The following table presents the impact of these corrections on the Company’s condensed consolidated statements of comprehensive income (loss):


	Three Months Ended June 30, 2019										Six Months Ended June 30, 2019
	As previously reported		Adjustment		As corrected		As previously reported		Adjustment		As corrected


Currency translation adjustment	$	(6,113)	$	285	$	(5,828)	$	(3,894)	$	36	$	(3,858)


Comprehensive loss attributable to noncontrolling interests	1,199		(27)		1,172		952		(203)		749
Comprehensive income attributable to Cooper-Standard Holdings Inc.	137,718		167		137,885		138,713		(2,004)		136,709

The impact of these corrections on the balance as of June 30, 2019 in the Company’s condensed consolidated statements of changes in equity includes a decrease to total equity of $9,828, which consists of a decrease to retained earnings of $8,856, a decrease to accumulated other comprehensive loss of $193, and a decrease to noncontrolling interests of $1,165.For the six months ended June 30, 2019, the impact of these corrections on the condensed consolidated statements of cash flows included a $1,837 decrease in net income, a $314 decrease in deferred income taxes, and a $2,151 increase in changes in operating assets and liabilities, resulting in no impact to net cash used in operating activities.

New Accounting Pronouncements

6 Months Ended

Jun. 30, 2020

New Accounting Pronouncements or Change in Accounting Principle [Line Items]

New Accounting Pronouncements and Changes in Accounting Principles [Text Block]

New Accounting Pronouncements

Recently Issued Accounting Pronouncements

The Company considered the recently issued accounting pronouncement summarized as follows, which could have a material impact on its consolidated financial statements or disclosures:


Standard	Description	Impact	Effective Date
ASU 2019-12, Income Taxes (Topic 740): Simplifying the Accounting for Income Taxes	Modifies ASC Topic 740 by removing certain exceptions and amending existing guidance in order to simplify the accounting for income taxes.	The Company is currently evaluating the impact of this guidance on its accounting policies and its consolidated financial statements.	January 1, 2021

- Definition

The entire disclosure for change in accounting principle. Includes, but is not limited to, nature, reason, and method of adopting amendment to accounting standards or other change in accounting principle.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
-SubTopic 10
-Section 65
-Paragraph 1
-Subparagraph (g)(2)
-URI http://asc.fasb.org/extlink&oid=113356391&loc=SL49131195-203048

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 250
-URI http://asc.fasb.org/topic&trid=2122394

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
-SubTopic 10
-Section 65
-Paragraph 1
-Subparagraph (i)
-URI http://asc.fasb.org/extlink&oid=113356391&loc=SL49131195-203048

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 250
-SubTopic 10
-Section S99
-Paragraph 6
-URI http://asc.fasb.org/extlink&oid=112272810&loc=SL108384541-122693

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
-SubTopic 10
-Section 65
-Paragraph 1
-Subparagraph (i)(2)
-URI http://asc.fasb.org/extlink&oid=113356391&loc=SL49131195-203048

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 944
-SubTopic 40
-Section 65
-Paragraph 2
-Subparagraph (g)(2)(iii)
-URI http://asc.fasb.org/extlink&oid=121370832&loc=SL117420844-207641

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 250
-SubTopic 10
-Section 50
-Paragraph 1
-Subparagraph (b)(4)
-URI http://asc.fasb.org/extlink&oid=109234566&loc=d3e22499-107794

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 944
-SubTopic 40
-Section 65
-Paragraph 2
-Subparagraph (g)(2)(ii)
-URI http://asc.fasb.org/extlink&oid=121370832&loc=SL117420844-207641

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 944
-SubTopic 40
-Section 65
-Paragraph 2
-Subparagraph (g)(2)(i)
-URI http://asc.fasb.org/extlink&oid=121370832&loc=SL117420844-207641

Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 718
-SubTopic 10
-Section 65
-Paragraph 15
-Subparagraph (g)(1)
-URI http://asc.fasb.org/extlink&oid=121322162&loc=SL121327923-165333

Reference 11: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
-SubTopic 10
-Section 65
-Paragraph 1
-Subparagraph (j)
-URI http://asc.fasb.org/extlink&oid=113356391&loc=SL49131195-203048

Reference 12: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 944
-SubTopic 40
-Section 65
-Paragraph 2
-Subparagraph (g)(2)(iv)
-URI http://asc.fasb.org/extlink&oid=121370832&loc=SL117420844-207641

Reference 13: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 926
-SubTopic 20
-Section 65
-Paragraph 2
-Subparagraph (f)(1)
-URI http://asc.fasb.org/extlink&oid=120154821&loc=SL120154904-197079

Reference 14: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 250
-SubTopic 10
-Section S99
-Paragraph 5
-Subparagraph (SAB Topic 11.M.Q2)
-URI http://asc.fasb.org/extlink&oid=112272810&loc=d3e31137-122693

Reference 15: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 926
-SubTopic 20
-Section 65
-Paragraph 2
-Subparagraph (f)(2)
-URI http://asc.fasb.org/extlink&oid=120154821&loc=SL120154904-197079

Reference 16: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 250
-SubTopic 10
-Section 50
-Paragraph 1
-Subparagraph (a)
-URI http://asc.fasb.org/extlink&oid=109234566&loc=d3e22499-107794

Reference 17: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 926
-SubTopic 20
-Section 65
-Paragraph 2
-Subparagraph (f)(3)
-URI http://asc.fasb.org/extlink&oid=120154821&loc=SL120154904-197079

Reference 18: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 326
-SubTopic 10
-Section 65
-Paragraph 4
-Subparagraph (e)(1)
-URI http://asc.fasb.org/extlink&oid=121646688&loc=SL121648383-210437

Reference 19: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 250
-SubTopic 10
-Section 50
-Paragraph 1
-Subparagraph (c)(1)
-URI http://asc.fasb.org/extlink&oid=109234566&loc=d3e22499-107794

Reference 20: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 944
-SubTopic 40
-Section 65
-Paragraph 2
-Subparagraph (h)(2)
-URI http://asc.fasb.org/extlink&oid=121370832&loc=SL117420844-207641

Reference 21: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 326
-SubTopic 10
-Section 65
-Paragraph 4
-Subparagraph (e)(2)
-URI http://asc.fasb.org/extlink&oid=121646688&loc=SL121648383-210437

Reference 22: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 250
-SubTopic 10
-Section 50
-Paragraph 1
-Subparagraph (b)(1)
-URI http://asc.fasb.org/extlink&oid=109234566&loc=d3e22499-107794

Reference 23: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 740
-SubTopic 10
-Section 65
-Paragraph 8
-Subparagraph (e)(1)

Reference 24: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 740
-SubTopic 10
-Section 65
-Paragraph 8
-Subparagraph (e)(2)

Reference 25: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 740
-SubTopic 10
-Section 65
-Paragraph 8
-Subparagraph (e)(3)

+ Details

Assets Held for Sale and Divestiture

6 Months Ended

Jun. 30, 2020

Discontinued Operations and Disposal Groups [Abstract]

Disposal Groups, Including Discontinued Operations, Disclosure [Text Block]

Assets Held for Sale and Divestiture

Assets Held for Sale

In the fourth quarter of 2019, management approved a plan to sell its European rubber fluid transfer and specialty sealing businesses, as well as its Indian operations. The entities and the associated assets and liabilities met the criteria for presentation as held for sale as of March 31, 2020, and as such, the assets and liabilities associated with the transaction are separately classified as held for sale in the condensed consolidated balance sheet and depreciation of long-lived assets ceased. The planned divestiture did not meet the criteria for presentation as a discontinued operation.

The major classes of assets and liabilities held for sale were as follows:


	June 30, 2020
Cash and cash equivalents	$	11,162
Accounts receivable, net	17,154
Tooling receivable, net	4,770
Inventories	17,022
Prepaid expenses	2,728
Other current assets	14,054
Property, plant and equipment, net	39,913
Operating lease right-of-use assets, net	2,946
Intangible assets, net	4,992
Other assets	1,218
Impairment of carrying value	(85,622)
Total assets held for sale	$	30,337

Accounts payable	$	13,937
Payroll liabilities	7,646
Accrued liabilities	7,977
Current operating lease liabilities	918
Pension benefits	3,618
Postretirement benefits other than pensions	2,778
Long-term operating lease liabilities	2,286
Other liabilities	1,933
Total liabilities related to assets held for sale	$	41,093

Upon meeting the criteria for held for sale classification and during the three months ended March 31, 2020 , the Company recorded a non-cash impairment charge of $74,079 to reduce the carrying value of the held for sale entities to fair value less costs to sell. During the three months ended June 30, 2020, the Company recorded an additional non-cash charge of $12,391 to reflect the changes in the carrying value of the net assets to fair value less costs to sell. Fair value, which is categorized within Level 3 of the fair value hierarchy, was determined using a market approach, estimated based on expected proceeds. The fair value less cost to sell must be assessed each reporting period that the asset group remains classified as held for sale. The difference between the impairment of the carrying value on the assets held for sale compared to the impairment recorded in the statements of operations is due to foreign currency translation offset by costs to sell incurred in the second quarter.

The impairment charge, which is subject to adjustments as the transaction is finalized, includes the non-cash cumulative foreign currency translation losses recorded in equity related to the held for sale entities.

Subsequent Event

Subsequent to the end of the Company's second quarter, on July 1, 2020, the Company completed the divestiture of its European rubber fluid transfer and specialty sealing businesses, as well as its Indian operations, to Mutares SE & Co. KGaA (“Mutares”). The transaction includes payment denominated in Euro of €9,000, which consists of €6,500 in cash that was recorded as held for sale as of June 30, 2020, and €2,500 in deferred payment obligations, payable in December 2021.

Divestiture

During the first quarter of 2019 and in prior periods, the Company also operated an AVS product line. On April 1, 2019, the Company completed its sale of the AVS product line to Continental AG. The total sale price of the transaction was $265,500, subject to certain adjustments. Cash proceeds received in the second quarter of 2019 were $243,362 after adjusting for certain liabilities assumed by the purchaser. The Company recognized a gain on the divestiture of $189,910 during the three months ended June 30, 2019. Adjustments to the gain recorded in the second half of 2019 related primarily to working capital adjustments.

Revenue

6 Months Ended

Jun. 30, 2020

Revenue from Contract with Customer [Abstract]

Revenue from Contract with Customer [Text Block]

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. Blanket purchase orders received from customers 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.

Revenue by customer group for the three months ended June 30, 2020 was as follows:


	North America		Europe		Asia Pacific		South America		Corporate, Eliminations and Other		Consolidated
Passenger and Light Duty	$	120,939	$	70,753	$	104,307	$	3,881	$	—	$	299,880
Commercial	1,971		3,223		1,413		—		823		7,430
Other	3,427		4,829		6		—		24,895		33,157
Revenue	$	126,337	$	78,805	$	105,726	$	3,881	$	25,718	$	340,467

Revenue by customer group for the six months ended June 30, 2020 was as follows:


	North America		Europe		Asia Pacific		South America		Corporate, Eliminations and Other		Consolidated
Passenger and Light Duty	$	446,921	$	241,534	$	183,049	$	24,320	$	—	$	895,824
Commercial	5,149		8,780		1,959		10		1,957		17,855
Other	9,068		13,733		62		22		58,793		81,678
Revenue	$	461,138	$	264,047	$	185,070	$	24,352	$	60,750	$	995,357

Revenue by customer group for the three months ended June 30, 2019 was as follows:


	North America		Europe		Asia Pacific		South America		Corporate, Eliminations and Other		Consolidated
Passenger and Light Duty	$	368,952	$	189,154	$	118,401	$	25,028	$	5	$	701,540
Commercial	5,439		7,872		17		60		488		13,876
Other	4,730		8,003		77		36		36,436		49,282
Revenue	$	379,121	$	205,029	$	118,495	$	25,124	$	36,929	$	764,698

Revenue by customer group for the six months ended June 30, 2019 was as follows:


	North America		Europe		Asia Pacific		South America		Corporate, Eliminations and Other		Consolidated
Passenger and Light Duty	$	805,818	$	414,605	$	243,756	$	48,220	$	5	$	1,512,404
Commercial	11,231		16,297		17		83		1,035		28,663
Other	9,790		16,527		174		58		75,077		101,626
Revenue	$	826,839	$	447,429	$	243,947	$	48,361	$	76,117	$	1,642,693

The passenger and light duty group consists of sales to automotive OEMs and automotive suppliers, while the commercial 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.

Substantially all of the Company’s revenues were generated from sealing, fuel and brake delivery and fluid transfer systems for use in passenger vehicles and light trucks manufactured by global OEMs and, until March 31, 2019, anti-vibrations systems. On April 1, 2019, the Company completed the divestiture of its AVS product line.

A summary of the Company’s products is as follows:


Product Line						Description
Sealing Systems						Protect vehicle interiors from weather, dust and noise intrusion for improved driving experience; provide aesthetic and functional class-A exterior surface treatment
Fuel & Brake Delivery Systems						Sense, deliver and control fluids to fuel and brake systems
Fluid Transfer Systems						Sense, deliver and control fluids and vapors for optimal powertrain & HVAC operation
Anti-Vibration Systems (Divested on April 1, 2019)						Control and isolate vibration and noise in the vehicle to improve ride and handling

Revenue by product line for the three months ended June 30, 2020 was as follows:


	North America		Europe		Asia Pacific		South America		Corporate, Eliminations and Other		Consolidated
Sealing systems	$	48,952	$	53,330	$	69,517	$	2,791	$	—	$	174,590
Fuel and brake delivery systems	42,272		11,298		25,366		826		—		79,762
Fluid transfer systems	35,113		9,557		10,843		264		—		55,777
Other	—		4,620		—		—		25,718		30,338
Consolidated	$	126,337	$	78,805	$	105,726	$	3,881	$	25,718	$	340,467

Revenue by product line for the six months ended June 30, 2020 was as follows:


	North America		Europe		Asia Pacific		South America		Corporate, Eliminations and Other		Consolidated
Sealing systems	$	173,508	$	180,576	$	118,541	$	16,340	$	—	$	488,965
Fuel and brake delivery systems	147,206		39,860		45,184		6,573		—		238,823
Fluid transfer systems	140,424		31,502		21,345		1,439		—		194,710
Other	—		12,109		—		—		60,750		72,859
Consolidated	$	461,138	$	264,047	$	185,070	$	24,352	$	60,750	$	995,357

Revenue by product line for the three months ended June 30, 2019 was as follows:


	North America		Europe		Asia Pacific		South America		Corporate, Eliminations and Other		Consolidated
Sealing systems	$	140,759	$	143,988	$	78,253	$	19,017	$	—	$	382,017
Fuel and brake delivery systems	123,979		31,023		26,309		6,044		—		187,355
Fluid transfer systems	114,381		21,514		13,922		63		—		149,880
Anti-vibration systems	—		158		11		—		—		169
Other	2		8,346		—		—		36,929		45,277
Consolidated	$	379,121	$	205,029	$	118,495	$	25,124	$	36,929	$	764,698

Revenue by product line for the six months ended June 30, 2019 was as follows:


	North America		Europe		Asia Pacific		South America		Corporate, Eliminations and Other		Consolidated
Sealing systems	$	286,405	$	299,379	$	161,782	$	36,846	$	—	$	784,412
Fuel and brake delivery systems	255,682		66,321		51,477		11,379		—		384,859
Fluid transfer systems	227,829		44,312		29,224		136		—		301,501
Anti-vibration systems	56,457		20,807		1,464		—		—		78,728
Other	466		16,610		—		—		76,117		93,193
Consolidated	$	826,839	$	447,429	$	243,947	$	48,361	$	76,117	$	1,642,693

Contract Estimates

The amount of revenue recognized is usually based on the purchase order price and adjusted for variable consideration, including pricing concessions. The Company accrues for pricing concessions by reducing revenue as products are shipped or delivered. The accruals are based on historical experience, anticipated performance and management’s best judgment. The Company also generally has ongoing adjustments to customer pricing arrangements based on the content and cost of its products. Such pricing accruals are adjusted as they are settled with customers. Customer returns are usually related to quality or shipment issues and are recorded as a reduction of revenue. The Company generally does not recognize significant return obligations due to their infrequent nature.

Contract Balances

The Company’s contract assets consist of unbilled amounts associated with variable pricing arrangements in its Asia Pacific region. Once pricing is finalized, contract assets are transferred to accounts receivable. As a result, the timing of revenue recognition and billings, as well as changes in foreign exchange rates, will impact contract assets on an ongoing basis. Contract assets were not materially impacted by any other factors during the six months ended June 30, 2020.

The Company’s contract liabilities consist of advance payments received and due from customers. Net contract assets (liabilities) consisted of the following:


	June 30, 2020		December 31, 2019		Change
Contract assets	$	2,609	$	1,100	$	1,509
Contract liabilities	(34)		(61)		27
Net contract assets	$	2,575	$	1,039	$	1,536

Other

The Company, at times, enters into agreements that provide for lump sum payments to customers. These payment agreements are recorded as a reduction of revenue during the period the commitment is made. Amounts related to commitments of future payments to customers on the condensed consolidated balance sheets as of June 30, 2020 and December 31, 2019 were current liabilities of $7,533 and $12,916, respectively, and long-term liabilities of $6,474 and $9,502, respectively.

The Company provides assurance-type warranties to its customers. Such warranties provide customers with assurance that the related product will function as intended and complies with any agreed-upon specifications, and are recognized in costs of products sold.

- Definition

The entire disclosure of revenue from contract with customer to transfer good or service and to transfer nonfinancial asset. Includes, but is not limited to, disaggregation of revenue, credit loss recognized from contract with customer, judgment and change in judgment related to contract with customer, and asset recognized from cost incurred to obtain or fulfill contract with customer. Excludes insurance and lease contracts.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
-URI http://asc.fasb.org/topic&trid=49130388

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
-SubTopic 10
-Section 50
-Paragraph 10
-URI http://asc.fasb.org/extlink&oid=121604090&loc=SL49130551-203045

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
-SubTopic 10
-Section 50
-Paragraph 13
-Subparagraph (b)(2)
-URI http://asc.fasb.org/extlink&oid=121604090&loc=SL49130556-203045

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
-SubTopic 10
-Section 50
-Paragraph 12
-Subparagraph (b)
-URI http://asc.fasb.org/extlink&oid=121604090&loc=SL49130554-203045

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
-SubTopic 10
-Section 50
-Paragraph 9
-URI http://asc.fasb.org/extlink&oid=121604090&loc=SL49130550-203045

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
-SubTopic 10
-Section 50
-Paragraph 12
-Subparagraph (e)
-URI http://asc.fasb.org/extlink&oid=121604090&loc=SL49130554-203045

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
-SubTopic 10
-Section 50
-Paragraph 12
-Subparagraph (a)
-URI http://asc.fasb.org/extlink&oid=121604090&loc=SL49130554-203045

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
-SubTopic 10
-Section 50
-Paragraph 12
-Subparagraph (d)
-URI http://asc.fasb.org/extlink&oid=121604090&loc=SL49130554-203045

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
-SubTopic 10
-Section 50
-Paragraph 15
-URI http://asc.fasb.org/extlink&oid=121604090&loc=SL49130558-203045

Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
-SubTopic 10
-Section 50
-Paragraph 12
-Subparagraph (c)
-URI http://asc.fasb.org/extlink&oid=121604090&loc=SL49130554-203045

+ Details

Restructuring

6 Months Ended

Jun. 30, 2020

Restructuring and Related Activities [Abstract]

Restructuring

On an ongoing basis, the Company evaluates its business and objectives to ensure that it is properly configured and sized based on changing market conditions. Accordingly, the Company has implemented several restructuring initiatives, including closure or consolidation of facilities throughout the world and the reorganization of its operating structure.

The Company’s restructuring charges consist of severance, retention and outplacement services, and severance-related postemployment benefits (collectively, “employee separation costs”), other related exit costs and asset impairments related to restructuring activities. Employee separation costs are recorded based on existing union and employee contracts, statutory requirements, completed negotiations and Company policy.

Restructuring expense by segment for the three and six months ended June 30, 2020 and 2019 was as follows:


	Three Months Ended June 30,						Six Months Ended June 30,
	2020		2019		2020		2019
North America	$	3,044	$	786	$	6,747	$	5,994
Europe	3,106		3,952		5,299		10,055
Asia Pacific	2,579		1,061		2,712		3,574
South America	849		10		2,051		26
Total Automotive	9,578		5,809		16,809		19,649
Corporate and other	196		118		241		3,993
Total	$	9,774	$	5,927	$	17,050	$	23,642

Restructuring activity for the six months ended June 30, 2020 was as follows:


	Employee Separation Costs		Other Exit Costs		Total
Balance as of December 31, 2019	$	22,990	$	4,005	$	26,995
Expense	10,781		6,269		17,050
Cash payments	(10,213)		(5,477)		(15,690)
Non-cash fixed asset impairments included in expense	—		(1,168)		(1,168)
Foreign exchange translation and other	(280)		80		(200)
Balance as of June 30, 2020	$	23,278	$	3,709	$	26,987

Inventories

6 Months Ended

Jun. 30, 2020

Inventory Disclosure [Abstract]

Inventories

Inventories consist of the following:


	June 30, 2020		December 31, 2019
Finished goods	$	41,187	$	57,070
Work in process	34,931		33,753
Raw materials and supplies	68,791		52,616
	$	144,909	$	143,439

Leases

6 Months Ended

Jun. 30, 2020

Leases [Abstract]

Leases of Lessee Disclosure [Text Block]

Leases

The Company primarily has operating and finance leases for certain manufacturing facilities, corporate offices and certain equipment. Operating leases are included in operating lease right-of-use assets, current operating lease liabilities and long-term operating lease liabilities on the Company’s condensed consolidated balance sheet as of June 30, 2020. Finance leases are included in property, plant and equipment, net, debt payable within one year, and long-term debt on the Company’s condensed consolidated balance sheets.

The components of lease expense were as follows:


	Three Months Ended June 30,						Six Months Ended June 30,
	2020		2019		2020		2019
Operating lease expense	$	7,814	$	7,985	$	16,419	$	16,665
Short-term lease expense	1,065		1,132		2,075		1,811
Variable lease expense	155		319		405		534
Finance lease expense:
Amortization of right-of-use assets	671		572		1,352		1,015
Interest on lease liabilities	400		452		785		907
Total lease expense	$	10,105	$	10,460	$	21,036	$	20,932

Other information related to leases was as follows:


	Six Months Ended June 30,
	2020		2019
Supplemental Cash Flows Information
Cash paid for amounts included in the measurement of lease liabilities:
Operating cash flows for operating leases	$	15,794	$	17,071
Operating cash flows for finance leases	810		759
Financing cash flows for finance leases	1,095		442
Non-cash right-of-use assets obtained in exchange for lease obligations:
Operating leases	38,652		2,807
Finance leases	61		9,476