Company: UFPT
Filing Date: 2025-11-07
Form Type: 10-Q
Source: 0001628280-25-050425
Chunk: 75

Company: UFP TECHNOLOGIES INC
Filing Date: 2025-11-07
Form: 10-Q
Item: Part I, Item 8
Chunk 75
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 months ended September 30, 2025, respectively, and $2.0 million and $4.2 million for the three and nine months ended September 30, 2024, respectively. The estimated remaining amortization expense as of September 30, 2025 is as follows (in thousands):Remainder of 2025$2,482 20269,923 20279,867 20289,820 20299,788 Thereafter101,380 Total$143,261 

(15)    Other Long-Term Liabilities

Other long-term liabilities consist of the following (in thousands):September 30,2025December 31,2024Present value of non-competition payments$3,165 $4,989 Accrued contingent consideration791 4,938 Other321 1,217 $4,277 $11,144 

(16)    Income Taxes

The determination of income tax expense in the accompanying unaudited condensed consolidated statements of income is based upon the estimated effective tax rate for the year, adjusted for the impact of any discrete items which are accounted for in the period in which they occur. The Company recorded income tax expense of approximately 22.2% and 19.4% of income before income tax expense for the three and nine months ended September 30, 2025, respectively, and 22.9% and 21.0% of income before income tax expense for the three and nine months ended September 30, 2024, respectively.Enactment of the “One Big Beautiful Bill Act” (OBBBA)On July 4, 2025, President Donald Trump signed the “One Big Beautiful Bill Act” (OBBBA) into law, which is considered the enactment date under U.S. GAAP. Key corporate tax provisions include the restoration of 100% bonus depreciation, immediate expensing for domestic research and experimental expenditures, changes to Section 163(j) interest limitations, updates to GILTI and FDII rules, amendments to energy credits, and expanded Section 162(m) aggregation requirements. In accordance with ASC 740, the effects of the new tax law have been recognized in the period of enactment. The impact of OBBBA to income tax expense is immaterial.

(17)    Debt

On June 27, 2024, the Company, as the borrower, entered into a secured $275 million Amended and