Company: CVGI
Filing Date: 2025-03-17
Form Type: 10-K
Source: 0001628280-25-012913
Chunk: 105

Company: Commercial Vehicle Group, Inc.
Filing Date: 2025-03-17
Form: 10-K
Item: Item 8
Chunk 105
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 Finance Leases     Right-of-use assets, netOther assets$97 $205 Current liabilitiesAccrued liabilities and other57 108 Non-current liabilitiesOther long-term liabilities37 107      Total finance lease liabilities$94 $215 Weighted Average Remaining Lease Term     Operating leases6.7 years7.1 years     Finance leases1.7 years3.0 yearsWeighted Average Discount Rate     Operating leases12.7 %11.3 %     Finance leases8.6 %6.6 %As most of our leases do not provide an implicit rate, we use our incremental borrowing rate based on the information available at the lease commencement date in determining the present value of the lease payments. We utilize an incremental borrowing rate, which is reflective of the specific term of the leases and economic environment of each geographic region, and apply a portfolio approach for certain machinery and equipment that have consistent terms in a specific geographic region.Anticipated future lease costs, which are based in part on certain assumptions to approximate minimum annual rental commitments under non-cancelable leases, are as follows:Year Ending December 31,OperatingFinancingTotal2025$11,184 $63 $11,247 20268,582 30 8,612 20275,461 8 5,469 20283,972 1 3,973 20293,051 — 3,051  Thereafter14,904 — 14,904 Total lease payments$47,154 $102 $47,256 Less: Imputed interest(16,326)(8)(16,334)Present value of lease liabilities$30,828 $94 $30,922 As of December 31, 2024, the Company had an additional lease that had not commenced which will create approximately $7 million of additional right-of-use assets in the first quarter of 2025.

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7.    Income Taxes 

Pre-tax income (loss) consisted of the following for the years ended December 31:202420232022Domestic $(20,095)$(1,017)$(25,410)Foreign11,854 29,447 29,688 Total$(8,241)$28,430 $4,278 A reconciliation of income taxes computed at the statutory rates to the reported income tax provision for the years ended December 31 follows:202420232022