Company: BHE
Filing Date: 2025-02-24
Form Type: 10-K
Source: 0000950170-25-025644
Chunk: 92

Company: BENCHMARK ELECTRONICS INC
Filing Date: 2025-02-24
Form: 10-K
Item: Item 1B
Chunk 92
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 borrowings outstanding under the Revolving Credit Facility and $4.4 million in letters of credit outstanding under the Revolving Credit Facility. As of December 31, 2024, the Company had $410.6 million available for future borrowings under the Revolving Credit Facility subject to compliance with financial covenants as to interest coverage and debt leverage, in addition to other debt covenant restrictions.As of December 31, 2024, the Company's long-term debt matures as follows: $6.6 million in 2025 and $251.5 million in 2026. The Company has no maturities after 2026.

Note 6 – LeasesThe Company determines if a contract is or contains a lease at inception. The Company leases certain facilities, vehicles and other equipment. The Company’s leases primarily consist of operating leases which expire at various dates through 2036. Variable lease payments are generally expensed as incurred and primarily include certain index-based changes in rent and certain non-lease components, such as maintenance and other services provided by the lessor.The components of lease expense were as follows: 

        Year EndedDecember 31,

        (in thousands)
         
        2024

        2023

        2022

        Finance lease costs:

        Amortization of right-of-use assets (included in depreciation expense)
         
        $
        —

        $
        48

        $
        96

        Interest on lease liabilities

        12

        21

        29

        Operating lease costs

        22,264

        19,280

        17,485

        Short-term lease costs

        704

        618

        307

        Variable lease costs

        1,924

        1,770

        1,892

        Total lease costs
         
        $
        24,904

        $
        21,737

        $
        19,809

       A summary of cash flow information related to leases follows: 

        Year EndedDecember 31,

        (in thousands)
        2024

        2023

        2022

        Cash paid for amounts included in the measurement of lease liabilities:

        Operating cash flows used for operating leases
        $
        22,018

        $
        17,702

        $
        17,277

        Operating cash flows used for finance leases
         
        12