Company: CVGI
Filing Date: 2025-08-04
Form Type: 10-Q
Source: 0001290900-25-000010
Chunk: 76

Company: Commercial Vehicle Group, Inc.
Filing Date: 2025-08-04
Form: 10-Q
Item: Item 8
Chunk 76
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.   Leases 

The components of lease expense are as follows:Three Months Ended June 30,Six Months Ended June 30,2025202420252024Operating lease cost $3,264 $2,566 $6,475 $4,965 Finance lease cost35 31 61 65 Short-term lease cost 1,171 1,156 2,197 1,952 Total lease expense$4,470 $3,753 $8,733 $6,982 Supplemental balance sheet information related to leases is as follows:Balance Sheet LocationJune 30, 2025December 31, 2024Operating LeasesRight-of-use assets, netOther assets, net$34,412 $29,931 Current liabilitiesAccrued liabilities and other8,041 8,033 Non-current liabilitiesOther long-term liabilities27,338 22,795      Total operating lease liabilities$35,379 $30,828 Finance Leases     Right-of-use assets, netOther assets, net$229 $97 Current liabilitiesAccrued liabilities and other62 57 Non-current liabilitiesOther long-term liabilities164 37      Total finance lease liabilities$226 $94 Cash payments on operating leases were $5.8 million and $4.8 million for the six months ended June 30, 2025 and 2024 respectively. 

14

Anticipated future lease costs, which are based in part on certain assumptions to approximate annual rental commitments under non-cancelable leases, are as follows:OperatingFinancingTotalRemainder of 2025$6,150 $44 $6,194 202610,461 79 10,540 20277,124 57 7,181 20285,563 50 5,613 20294,508 45 4,553 Thereafter20,598 6 20,604 Total lease payments$54,404 $281 $54,685 Less: Imputed interest(19,025)(55)(19,080)Present value of lease liabilities$35,379 $226 $35,605 

8. Income Taxes

We recorded a $1.7 million tax provision, or (72)% effective tax rate for the three months ended June 30, 2025, and $3.8 million tax provision,