Company: THRM
Filing Date: 2025-02-19
Form Type: 10-K
Source: 0000950170-25-023344
Chunk: 51

Company: Gentherm Inc
Filing Date: 2025-02-19
Form: 10-K
Item: Item 16
Chunk 51
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 we completed the sale of our former headquarters building in Northville, Michigan in January 2025. The sale resulted in cash proceeds of $3,740 and is expected to result in a loss on sale of $2,311 that will be recognized in the first quarter of 2025.

 F-24

GENTHERM INCORPORATED NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS (Continued)(In thousands, except share and per share data)  

Note 9 — Debt The following table summarizes the Company’s debt as of December 31, 2024 and 2023:

        December 31,

        2024

        2023

        InterestRate

        PrincipalBalance

        InterestRate

        PrincipalBalance

        Credit Agreement:

        U.S. Revolving Note (U.S. Dollar denominations)

        5.86
        %
         
        $
        220,000

        6.58
        %
         
        $
        222,000

        Other loans

        —

        —

        3.90
        %

        233

        Finance leases

        3.46
        %

        201

        3.53
        %

        605

        Total debt

        220,201

        222,838

        Current maturities

        (137
        )

        (621
        )

        Long-term debt, less current maturities

        $
        220,064

        $
        222,217

      Credit AgreementOn June 10, 2022, the Company entered into a Second Amended and Restated Credit Agreement (the “Second Amended and Restated Credit Agreement”) with a consortium of lenders and Bank of America, N.A. as administrative agent (the “Agent”). The Second Amended and Restated Credit Agreement amended and restated in its entirety the Amended and Restated Credit Agreement dated June 27, 2019, by and among Gentherm, certain of its direct and indirect subsidiaries, the lenders party thereto and the Agent.The Second Amended and Restated Credit Agreement provides for a $500,000 secured revolving credit facility (the “Revolving Credit Facility”) (a $25,000 increase from the revolving credit facility under the Amended and Restated Credit Agreement), with a $50,000 sublimit for swing line loans and a $15,000 sublimit for the issuance of standby letters