Company: UFPT
Filing Date: 2025-08-11
Form Type: 10-Q
Source: 0001171843-25-005268
Chunk: 23

Company: UFP TECHNOLOGIES INC
Filing Date: 2025-08-11
Form: 10-Q
Item: Part I, Item 8
Chunk 23
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$
			112,515

			$
			24,446

			$
			780

			$
			4,233

			$
			141,974

Amortization expense related to intangible assets was approximately $2.4 million and $4.8 million for the three and six months ended June 30, 2025, respectively, $1.0 million and $2.0 million for the three and six months ended June 30, 2024, respectively. The estimated remaining amortization expense as of June 30, 2025 is as follows (in thousands):

			Remainder of 2025

			$
			4,847

			2026

			9,692

			2027

			9,636

			2028

			9,589

			2029

			9,557

			Thereafter

			98,653

			Total

			$
			141,974

22

			(15)

			Other Long-Term Liabilities

Other long-term liabilities consist of the following (in thousands):

			June 30,

			December 31,

			2025

			2024

			Present value of non-competition payments

			$
			3,127

			$
			4,989

			Accrued contingent consideration

			791

			4,938

			Other

			250

			1,217

			$
			4,168

			$
			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 20.6% and 18.0% of income before income tax expense for the three and six months ended June 30, 2025, respectively, and 22.0% and 19.8% of income before income tax expense for the three and six months ended June 30, 2024, respectively.

			(17)

			Debt

On June 27, 2024, the Company, as the borrower, entered into a secured $