Company: HFFG
Filing Date: 2025-03-17
Form Type: 10-K
Source: 0001680873-25-000006
Chunk: 105

Company: HF Foods Group Inc.
Filing Date: 2025-03-17
Form: 10-K
Item: Item 8
Chunk 105
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 changes of these IRS contracts are accounted for and recognized as a change in fair value of interest rate swap contracts in the consolidated statements of operations and comprehensive income (loss).

As of December 31, 2024, the Company determined that the fair values of the IRS contracts were $0.5 million in an asset position and none in a liability position. As of December 31, 2023, the fair values of the IRS contracts were $0.4 million in an asset position and $1.6 million in a liability position. The Company includes these in other long-term assets and other long-term liabilities, respectively, on the consolidated balance sheets. 

Note 10 - DebtLong-term debt at December 31, 2024 and December 31, 2023 is summarized as follows:($ in thousands)Bank NameMaturityInterest Rate at December 31, 2024December 31, 2024December 31, 2023Bank of America (a)October 2026 - December 20294.34% - 7.22%$2,176 $2,362 East West Bank (b)August 2027 - September 20296.81% - 8.00%5,518 5,675 JPMorgan Chase (c)January 20306.53%101,255 106,337 Other finance institutions (d)July 2024N/A— 45 Total debt, principal amount108,949 114,419 Less: debt issuance costs(215)(258)Total debt, carrying value108,734 114,161 Less: current portion(5,410)(5,450)Long-term debt$103,324 $108,711 _______________(a)Loan balance consists of real estate term loan and equipment term loan, collateralized by one real property and specific equipment. The real estate term loan is pegged to TERM SOFR + 2.5%. (b)Real estate term loans with East West Bank are collateralized by three real properties. Balloon payments of $2.2 million and $3.3 million are due at maturity in 2027 and 2029, respectively.

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(c)Real estate term loan with a principal balance of $101.3 million as of December 31, 2024 and $106.3 million as of December 31, 2023 is secured by assets held by the Company and