The following tables present the impacts of the restatement adjustments to the previously reported financial information for the period ended March 31, 2019. The restatement references identified in the following tables directly correlate to the restatement adjustments detailed below. The restatement adjustments and error correction and their impact on previously reported consolidated financial statements are described below.

(a) Understatement of cost of revenues and impacted balance sheet accounts - Corrections for the understatement of cost of revenues by improperly capitalizing certain manufacturing expenses. Balance sheet accounts adjusted as a result of the improper capitalization of expenses include other current assets, accounts receivable, net of allowances and construction in progress.

(b) Property, plant and equipment, net - We recorded an adjustment for a previously identified property, plant and equipment, net error unrelated to the understatement of cost of revenues and related balance sheet accounts misstatements. This PPE was no longer in service as of the year ended December 31, 2016.

COMMERCIAL VEHICLE GROUP, INC. AND SUBSIDIARIES

CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS

(Unaudited)



	Three Months Ended March 31, 2019
	As Previously Reported		Restatement Adjustments			As Restated		Restatement References

Revenues	$	243,164	$	—		$	243,164
Cost of Revenues	208,604		1,471			210,075		a, b
Gross profit	34,560		(1,471		)	33,089
Selling, General and Administrative Expenses	15,199		—			15,199
Amortization Expense	321		—			321
Operating Income (Loss)	19,040		(1,471		)	17,569
Interest and Other Expense	4,396		—			4,396
Income before provision for income taxes	14,644		(1,471		)	13,173		a, b
Provision for Income Taxes	3,514		(327		)	3,187		a, b
Net Income (Loss)	$	11,130	$	(1,144	)	$	9,986
Income (Loss) per share attributable to common stockholders:
Basic	$	0.36	$	(0.04	)	$	0.33
Diluted	$	0.36	$	(0.04	)	$	0.33
Weighted average common shares outstanding:
Basic	30,513		30,513			30,513
Diluted	30,694		30,694			30,694

For the three months ended March 31, 2019

(a) Understatement of cost of revenues and impacted balance sheet accounts. As a result of the understatement of cost of revenues, the correction resulted in a $1.5 million increase in cost of revenues; a $0.3 million decrease in provision for income taxes; and a $1.1 million decrease in net income.

(b) Property, plant and equipment, net error correction. The immaterial error correction of property, plant and equipment, net, resulted in an immaterial decrease in cost of revenues; an immaterial increase in provision for income taxes; and an immaterial increase in net income.

COMMERCIAL VEHICLE GROUP, INC. AND SUBSIDIARIES

CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (LOSS)

(Unaudited)



	Three Months Ended March 31, 2019
	As Previously Reported			Restatement Adjustments			As Restated			Restatement References

Net Income (Loss)	$	11,130		$	(1,144	)	$	9,986		a, b
Other comprehensive income (loss):							—
Foreign currency translation adjustments	104			—			104
Minimum pension liability, net of tax	(649		)	—			(649		)
Derivative instrument	339			—			339
Other comprehensive income (loss)	(206		)	—			(206		)
Comprehensive income (loss)	$	10,924		$	(1,144	)	$	9,780

For the three months ended March 31, 2019

(a) Understatement of cost of revenues and impacted balance sheet accounts. As a result of the understatement of cost of revenues, the correction resulted in a $1.1 million decrease in net income. Refer to descriptions of the adjustments and their impacts to net income above.

(b) Property, plant and equipment, net error correction. The immaterial error correction of property, plant and equipment, net, resulted in an immaterial increase in net income. Refer to descriptions of the adjustment and its impact to net income above.

COMMERCIAL VEHICLE GROUP, INC. AND SUBSIDIARIES

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS

(Unaudited)



	Three Months Ended March 31, 2019
	As Previously Reported			Restatement Adjustments			As Restated			Restatement References

Cash Flows from Operating Activities:
Net Income	$	11,130		$	(1,144	)	$	9,986		a, b
Adjustments to reconcile net income to cash flows from operating activities:
Depreciation and amortization	3,718			(37		)	3,681			b
Provision for doubtful accounts	2,350			—			2,350
Non-cash amortization of debt financing costs	342			—			342
Shared-based compensation expense	761			—			761
Deferred income taxes	2,625			(327		)	2,298			a, b
Non-cash loss / (gain) on derivative contracts	737			—			737
Change in other operating items:
Accounts receivable	(26,356		)	—			(26,356		)
Inventories	(4,739		)	—			(4,739		)
Prepaid expenses	(3,780		)	1,508			(2,272		)	a
Accounts payable	9,548			—			9,548
Other operating activities, net	(2,307		)	—			(2,307		)
Net cash provided by operating activities	(5,971		)	—			(5,971		)
Cash Flows from Investing Activities:
Purchases of property, plant and equipment	(5,580		)	—			(5,580		)
Proceeds from disposal/sale of property, plant and equipment	20			—			20
Net cash used in investing activities	(5,560		)	—			(5,560		)
Cash Flows from Financing Activities:
Repayment of Term Loan	(5,244		)	—			(5,244		)
Other financing activities	(105		)	—			(105		)
Net cash used in financing activities	(5,349		)	—			(5,349		)

Effect of Foreign Currency Exchange Rate Changes on Cash	315			—			315

Net Decrease in Cash	(16,565		)	—			(16,565		)

Cash:
Beginning of period	70,913			—			70,913
End of period	$	54,348		$	—		$	54,348
Supplemental Cash Flow Information:
Cash paid for interest	$	3,373		$	—		$	3,373
Cash paid for income taxes, net	$	2,593		$	—		$	2,593
Unpaid purchases of property and equipment included in accounts payable	$	233		$	—		$	233

For the three months ended March 31, 2019

(a) Understatement of cost of revenues and impacted balance sheet accounts. As a result of the understatement of cost of revenues, the correction resulted in a $1.1 million decrease in net income; a $0.3 million decrease in deferred income tax; and a $1.5 million decrease in change in prepaid expenses.

(b) Property, plant and equipment, net error correction. The immaterial error correction of property, plant and equipment, net, resulted in an immaterial increase in net income; an immaterial decrease in depreciation expense; and an immaterial increase in deferred income tax.