Company: CRL
Filing Date: 2025-02-19
Form Type: 10-K
Source: 0001100682-25-000011
Chunk: 169

Company: CHARLES RIVER LABORATORIES INTERNATIONAL, INC.
Filing Date: 2025-02-19
Form: 10-K
Item: Item 8
Chunk 169
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, resulting in a significant reduction in cash flows. The Company concluded that there were no impairments to the long-lived asset group, which includes client relationships. However the remaining useful life of the client relationships was reduced. As a result of the decrease in the remaining useful life, $9.4 million of accelerated amortization was recognized within the accompanying consolidated statements of income. The remaining value of these client relationships is $75.9 million and will be amortized over the remaining useful life of approximately 6 months in fiscal year 2025.The decrease in intangible assets, net during fiscal year 2024 related primarily to normal amortization over the useful lives and the accelerated amortization of certain client relationships in the Biologics Solutions reporting unit. Amortization expense of definite-lived intangible assets for fiscal years 2024, 2023 and 2022 was $138.5 million, $137.4 million and $146.6 million, respectively. 

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CHARLES RIVER LABORATORIES INTERNATIONAL, INC.NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (Continued)

As of December 28, 2024, estimated amortization expense for intangible assets for each of the next five fiscal years is expected to be as follows:Fiscal YearAmortization Expense(in thousands)2025$185,783 2026$104,595 2027$92,904 2028$81,659 2029$73,704 

11. DEBT AND OTHER FINANCING ARRANGEMENTS

Long-term debt, net and finance leases consists of the following:December 28, 2024December 30, 2023(in thousands)Revolving credit facility$714,948 $1,129,243 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 Other debt15,603 9,575 Finance leases 28,444 28,550 Total debt and finance leases2,258,995 2,667,368 Less:Current portion of long-term debt155 3,172 Current portion of finance leases2,774 2,398 Current portion of long-term debt and finance leases2,929 5,570 Long-term debt and finance leases2,256,