Company: APT
Filing Date: 2025-11-06
Form Type: 10-Q
Source: 0001437749-25-033545
Chunk: 8

Company: ALPHA PRO TECH LTD
Filing Date: 2025-11-06
Form: 10-Q
Item: Part I, Item 1
Chunk 8
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4, the Company did not generate sales from any single country, other than the United States, that were significant to the Company’s consolidated net sales.

The following table summarizes the locations of the Company’s long-lived assets by geographic region as of September 30, 2025 and December 31, 2024:

                                              September 30,                     December 31,                 
                                              2025                              2024                         
 ─────────────────────────────────────────────────────────────────────────────────────────────────────────────
  Long-lived assets by geographic region                                                                     
  United States                               $                  7,006,000      $                 7,325,000  
  International                                                  1,201,000                        1,195,000  
  Consolidated total long-lived assets        $                  8,207,000      $                 8,520,000  

  12.      Related Party Transactions  
 ───────────────────────────────────────

As of September 30, 2025, the Company had no related party transactions, other than the Company’s transactions with its unconsolidated affiliate, Harmony. See Note 6 of these Notes to Condensed Consolidated Financial Statements (Unaudited).

  13.      Leases  
 ───────────────────

The Company has operating leases for the Company’s corporate office and manufacturing facilities, which expire at various dates through 2034. The Company’s primary operating lease commitments as of September 30, 2025, related to the Company’s manufacturing facilities in Valdosta, Georgia and Nogales, Arizona, as well as the Company’s corporate headquarters in Aurora, Ontario, Canada.

As of September 30, 2025, the Company had operating lease right-of-use assets of $8,016,000and operating lease liabilities of $8,105,000. As of September 30, 2025, we did nothave any finance leases recorded on the Company’s consolidated balance sheet. Operating lease expense was approximately $1,132,000during the nine months ended September 30, 2025.

The aggregate future minimum lease payments and reconciliation to lease liabilities as of September 30, 2025 were as follows:

                                           September 30,                   
 ───────────────────────────────────────────────────────────────────────────
                                           2025                            
  Remaining three months of 2025           $                      369,000  
  2026                                                          1,473,000  
  2027                                                          1,459,