Company: KVHI
Filing Date: 2025-11-06
Form Type: 10-Q
Source: 0001007587-25-000022
Chunk: 154

Company: KVH INDUSTRIES INC \DE\
Filing Date: 2025-11-06
Form: 10-Q
Item: Part I, Item 8
Chunk 154
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 and India. In general, the statute of limitations with respect to the Company's United States federal income taxes has expired for years prior to 2020, and the relevant state and foreign statutes vary. However, preceding years remain open to examination by United States federal and state and foreign taxing authorities to the extent of future utilization of net operating losses and research and development tax credits generated in each preceding year.On July 4, 2025, the One Big Beautiful Bill Act (“OBBBA”) was enacted in the U.S. The OBBBA makes permanent key elements of the Tax Cuts and Jobs Act, including 100% bonus depreciation, domestic research cost expensing, and the business interest expense limitation. The legislation has multiple effective dates, with certain provisions effective in 2025 and others implemented through 2027. The Company does not expect the OBBBA to have a material impact on its consolidated financial statements.

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(16)     Leases

LesseeThe Company has operating leases for office facilities, equipment, and satellite service capacity and related equipment. Lease expense was $232 and $376 for the three months ended September 30, 2025 and 2024, respectively, and $738 and $1,095 for the nine months ended September 30, 2025 and 2024, respectively. Short-term operating lease costs were $24 and $20 for the three months ended September 30, 2025 and 2024, respectively, and $70 and $59 for the nine months ended September 30, 2025 and 2024, respectively. Maturities of lease liabilities as of September 30, 2025 under operating leases having an initial or remaining non-cancelable term of one year or more are as follows:Remainder of 2025$233 2026741 2027840 2028 and thereafter3,695 Total minimum lease payments$5,509 Less amount representing interest$(901)Present value of net minimum operating lease payments$4,608 Less current installments of obligation under current-operating lease liabilities$591 Obligations under long-term operating lease liabilities, excluding current installments$4,017 Weighted-average remaining lease term - operating leases (years)6.14Weighted-average discount rate - operating leases5.50 %On July 23, 2025, the Company entered into a new lease agreement for approximately 32,000 square feet of office and warehouse