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Segment Reporting
 12 Months Ended
Dec. 31, 2024
Segment Reporting [Abstract]  
Segment Reporting Segment Reporting
Our President and Chief Executive Officer is the Company’s chief operating decision maker (“CODM”). The CODM uses segment operating income compared to historical results, budgets, and forecasted financial information, in order to assess segment performance and allocate operating and capital resources. Our CODM does not evaluate operating segments using asset information. Each of these segments consists of a number of manufacturing facilities. Certain of our facilities manufacture and sell products through multiple product lines. Our segments are more specifically described below.
CVG's reportable segments were impacted in the current period due to the divestiture of the cab structure business with operations in Kings Mountain, North Carolina and the Industrial Automation segment. As a result of classifying the Industrial Automation reporting segment as a discontinued operation, CVG has three reportable segments for 2024: Vehicle Solutions, Electrical Systems and Aftermarket & Accessories. Additionally, as a result of classifying the cab structure divestiture as discontinued operations, the financial information reported for Vehicle Solutions and Aftermarket & Accessories excludes the activity from Kings Mountain, North Carolina.

The Vehicle Solutions segment designs, manufactures and sells the following products:
•Commercial vehicle seats for the global commercial vehicle markets including heavy duty trucks, medium duty trucks, last mile delivery trucks and vans, construction and agriculture equipment in North America, Europe and Asia-Pacific. This segment includes a portion of the company’s activities in the electric vehicle market.
•Plastic & Trim components primarily for the North America commercial vehicle market, MD/HD truck market and power sports markets.

The Electrical Systems segment designs, manufactures and sells the following products:
•Cable and harness assemblies for both high and low voltage applications, control boxes, dashboard assemblies and design and engineering for these applications.
•The end markets for these products are construction, agricultural, industrial, automotive (both internal combustion and electric vehicles), truck, mining, rail, marine, power generation and the military/defense industries in North America, Europe and Asia-Pacific.

The Aftermarket & Accessories segment designs, manufactures and sells the following products:
•Seats and components sold into the commercial vehicle channels that provide repair and refurbishing. These channels include OES centers and retail distributors, and are spread across North America, Europe and Asia-Pacific.
•Commercial vehicle accessories including wipers, mirrors, and sensors. These products are sold both as Original Equipment and as repair products.
•Office seats primarily sold into the commercial and home office furniture distribution channels in Europe and Asia-Pacific.
Corporate expenses consist of certain overhead and shared costs that are not allocated to the operations of a segment.
The following tables present financial information for the Company's reportable segments for the periods indicated:
For the year ended December 31, 2024
Vehicle SolutionsElectrical SystemsAftermarket & AccessoriesTotal
Revenues$404,164 $189,626 $129,565 $723,355 
Cost of revenues364,936 178,925 106,217 650,078 
Gross profit39,228 10,701 23,348 73,277 
Selling, general & administrative expenses 21,326 10,252 8,322 39,900 
Operating income
$17,902 $449 $15,026 $33,377 
Corporate and other unallocated costs
34,135 
Other (income) expense
(2,200)
Interest expense
9,174 
Loss on early extinguishment of debt509 
Loss before provision for income taxes
$(8,241)
Capital expenditures, depreciation and restructuring:
Capital expenditures$6,794 $5,968 $1,187 
Depreciation expense$7,171 $4,616 $1,605 
Restructuring$5,936 $3,745 $939 

For the year ended December 31, 2023
Vehicle SolutionsElectrical SystemsAftermarket & AccessoriesTotal
Revenues$469,962 $228,424 $137,083 $835,469 
Cost of goods sold410,599 193,027 110,569 714,195 
Gross profit59,363 35,397 26,514 121,274 
Selling, general & administrative expenses
26,109 9,107 8,144 43,360 
Operating income
$33,254 $26,290 $18,370 $77,914 
Corporate and other unallocated costs
38,041 
Other (income) expense
1,195 
Interest expense10,248 
Income before provision for income taxes
$28,430 
Capital expenditures, depreciation and restructuring:
  Capital expenditures$7,769 $9,096 $1,762 
Depreciation expense$7,356 $3,972 $1,288 
Restructuring$809 $8 $— 
For the year ended December 31, 2022
Vehicle SolutionsElectrical SystemsAftermarket & AccessoriesTotal
Revenues$470,334 $180,404 $131,845 $782,583 
Cost of goods sold427,260 156,411 113,384 697,055 
Gross profit43,074 23,993 18,461 85,528 
Selling, general & administrative expenses23,533 5,775 6,915 36,223 
Operating income
$19,541 $18,218 $11,546 $49,305 
Corporate and other unallocated costs
24,484 
Other (income) expense
10,463 
Interest expense
9,159 
Loss on early extinguishment of debt921 
Income before provision for income taxes
$4,278 
Capital expenditures, depreciation and restructuring:
  Capital expenditures$7,774 $3,936 $3,692 
Depreciation expense$7,490 $3,496 $1,309 
Restructuring$751 $674 $1,909 
The following table presents revenues and long-lived assets for the geographic areas in which we operate:
Years Ended December 31,
202420232022
Revenues
Long-lived
Assets
Revenues
Long-lived
Assets
RevenuesLong-lived
Assets
United States$504,455 $65,957 $596,620 $67,727 $550,783 $65,279 
Czech Republic93,106 6,679 102,786 8,583 88,295 6,565 
All other countries125,794 26,253 136,063 23,983 143,505 17,835 
$723,355 $98,889 $835,469 $100,293 $782,583 $89,679 
Sales to two of our customers was individually in excess of 10% of total Company revenues in each of the years ended December 31, 2024, 2023 and 2022, as noted in the table below. The following table presents revenue from the above mentioned customer as a percentage of total revenue:
Years Ended December 31,
CustomerPrimary Segment202420232022
Customer AVehicle Solutions13 %13 %13 %
Customer BVehicle Solutions11 %10 %16 %