Company: CVGI
Filing Date: 2025-05-06
Form Type: 10-Q
Source: 0001628280-25-022764
Chunk: 47

Company: Commercial Vehicle Group, Inc.
Filing Date: 2025-05-06
Form: 10-Q
Item: Item 8
Chunk 47
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 exceptions and the Company's ability to re-invest and use proceeds towards acquisitions permitted by the Credit Agreement.Voluntary prepayments of amounts outstanding under the Credit Facilities are permitted at any time, without premium or penalty. See Note 15, Commitments and Contingencies, for the future minimum principal payments due on long-term debt for the next five years.Foreign Facility During the quarter ended March 31, 2023, we established a credit facility in China consisting of a line of credit which is subject to annual renewal (the "China Credit Facility"). The China Credit Facility was renewed during the quarter ended December 31, 2024, with availability of approximately $11.0 million (denominated in the local currency). We utilize the China Credit Facility to meet local working capital demands, fund letters of credit and bank guarantees, and support other short-term cash requirements of our China operations. We had no outstanding borrowings under the China Credit Facility as of March 31, 2025 and December 31, 2024. At March 31, 2025, we had $11.0 million of availability under the China Credit Facility.

8

Cash Paid for InterestFor the three months ended March 31, 2025 and 2024, cash payments for interest were $2.8 million and $2.9 million, respectively.

5. Intangible Assets

Our definite-lived intangible assets were comprised of the following: March 31, 2025December 31, 2024Weighted-AverageAmortizationPeriodGrossCarryingAmountAccumulatedAmortizationNetCarryingAmountGrossCarryingAmountAccumulatedAmortizationNetCarryingAmountTrademarks/tradenames30 years$6,889 $(4,010)$2,879 $8,182 $(5,251)$2,931 Customer relationships15 years5,235 (4,333)902 5,227 (4,240)987 $12,124 $(8,343)$3,781 $13,409 $(9,491)$3,918          The aggregate intangible asset amortization expense was $0.1 million and $0.2 million for the three months ended March 31, 2025 and 2024, respectively.

6. Fair Value Measurement

Fair value is the price that would be received from selling an asset or paid to transfer a liability in an orderly transaction between market participants at