Company: CRL
Filing Date: 2025-05-07
Form Type: 10-Q
Source: 0001100682-25-000021
Chunk: 36

Company: CHARLES RIVER LABORATORIES INTERNATIONAL, INC.
Filing Date: 2025-05-07
Form: 10-Q
Item: Item 2
Chunk 36
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 of common stock upon vesting of stock-based awards in order to satisfy individual statutory tax withholding requirements

•Payment of $19.1 million for the remaining 8% equity interest in Vital River 

For the three months ended March 30, 2024, net cash provided by financing activities was primarily driven by the following activity:

•Net proceeds of $4.3 million from our Credit Facility

•Net proceeds from exercises of employee stock options of $21.5 million

•Treasury stock purchases of $9.4 million made due to the netting of common stock upon vesting of stock-based awards in order to satisfy individual statutory tax withholding requirements

•Dividend payments to noncontrolling interest holders of $2.2 million

30 

CHARLES RIVER LABORATORIES INTERNATIONAL, INC.

Financing and Market Risk

We are exposed to market risk from changes in interest rates and currency exchange rates, which could affect our future results of operations and financial condition. We manage our exposure to these risks through our regular operating and financing activities.

Amounts outstanding under our Credit Facility and our Senior Notes were as follows:March 29, 2025December 28, 2024(in thousands)Revolving facility$984,650 $714,948 4.25% Senior Notes due 2028500,000 500,000 3.75% Senior Notes due 2029500,000 500,000 4.00% Senior Notes due 2031500,000 500,000 Total$2,484,650 $2,214,948 

The Credit Facility provides for up to $2.0 billion of multi-currency revolving credit and has a maturity date of December 2029, with no required scheduled payment before that date. The interest rates applicable to the revolving facility are equal to (A) for revolving loans denominated in U.S. dollars, at our option, either the base rate (which is the higher of (1) the prime rate, (2) the federal funds rate plus 0.50%, or (3) the one-month adjusted SOFR rate plus 1.0%) or the adjusted SOFR rate, (B) for revolving loans denominated in euros, the adjusted EURIBOR rate and (C) for revolving loans denominated in sterling, the daily simple SONIA rate, in each case, plus an interest rate margin based upon our leverage ratio.

Our off-balance