Company: QXO-PB
Filing Date: 2025-03-04
Form Type: 10-K
Source: 0001628280-25-009626
Chunk: 27

Company: QXO, Inc.
Filing Date: 2025-03-04
Form: 10-K
Item: Item 16
Chunk 27
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7749 2028639 2029363 thereafter515 Total intangible asset amortization$4,024 

NOTE 6 – LONG-TERM DEBT

During the year ended December 31, 2024, the Company extinguished all long-term debt obligations. As of December 31, 2023, the Company’s long-term debt was $1.7 million.

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NOTE 7 – LEASES

The Company leases its corporate offices and data centers under non-cancelable operating lease agreements. The terms of the Company’s real estate leases generally range from 3 to 5 years. Corporate office leases expire at various dates through 2026. The Company also leases certain equipment under finance leases. The terms of equipment leases generally range from 3 to five years. These leases expire at various dates through 2027.The following table presents the operating and financing lease-related assets and liabilities recorded on the consolidated balance sheets:(in thousands)As ofLeasesBalance Sheet ClassificationDecember 31, 2024December 31, 2023AssetsOperatingOperating lease right-of-use assets$259 $522 FinanceProperty and equipment, net197 332 Total lease assets$456 $854 LiabilitiesCurrent:OperatingOperating lease liabilities – current portion$188 $263 FinanceFinance lease obligations – current portion128 154 Non-current:OperatingOperating lease liabilities net of current portion71 259 FinanceFinance lease obligations net of current portion190 247 Total lease liabilities$577 $923 The following table presents supplemental weighted-average information for operating and finance leases as follows:As ofDecember 31, 2024December 31, 2023Weighted average remaining lease termOperating1.4 years2.1 yearsFinance2.4 years2.9 yearsWeighted-average discount rateOperating4.77 %4.77 %Finance7.77 %7.15 %The following table presents components of lease cost for operating and finance leases as follows:(in thousands)Year Ended December 31, Lease cost20242023Operating lease cost$279 $376 Finance lease cost:Amortization of leased assets247 329 Interest on lease liabilities28 2 Short-term lease cost and variable lease cost155 38 Net lease cost$709 $745 

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The following table presents supplemental cash flow information related to operating and finance leases as follows:Year Ended December 31, (in thousands)202