Company: OCC
Filing Date: 2025-06-05
Form Type: 10-Q
Source: 0001437749-25-019494
Chunk: 73

Company: OPTICAL CABLE CORP
Filing Date: 2025-06-05
Form: 10-Q
Item: Item 8
Chunk 73
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 CABLE CORPORATION

Condensed Notes to Condensed Consolidated Financial Statements

Six Months Ended April 30, 2025

(Unaudited)

For the three months ended April 30, 2025 and 2024, cash paid for operating lease liabilities totaled $147,622 and $111,770, respectively. For the three months ended April 30, 2025 and 2024, there were no right-of-use assets obtained in exchange for new operating lease liabilities.

Finance lease right-of-use assets of $97,096 and $111,844 were included in other assets at April 30, 2025 and October 31, 2024, respectively. Finance lease liabilities of $40,219 and $33,827 were included in accounts payable and accrued expenses, and other noncurrent liabilities, respectively, at April 30, 2025. Finance lease liabilities of $39,277 and $54,174 were included in accounts payable and accrued expenses, and other noncurrent liabilities, respectively, at October 31, 2024. Interest expense related to the finance lease totaled $956 and $2,028, respectively, for the three months and six months ended April 30, 2025. Interest expense related to the finance lease totaled $1,409 and $2,927, respectively, for the three months and six months ended April 30, 2024. For the three months ended April 30, 2025 and 2024, amortization expense related to the finance lease totaled $7,374. For the six months ended April 30, 2025 and 2024, amortization expense related to the finance lease totaled $14,748.

The remaining lease term for the finance lease is 16 months and the discount rate is 4.75% as of April 30, 2025.

For the three months ended April 30, 2025, cash paid for the finance lease liability totaled $956 for interest and $9,761 for principal. For the six months ended April 30, 2025, cash paid for the finance lease liability totaled $2,028 for interest and $19,405 for principal. For the three months ended April 30, 2024, cash paid for the finance lease liability totaled $1,409 for interest and $9,309 for principal. For the six months ended April 30, 2024, cash paid for the finance lease liability totaled $2,927 for