Company: JBI
Filing Date: 2025-08-07
Form Type: 10-Q
Source: 0001839839-25-000141
Chunk: 49

Company: Janus International Group, Inc.
Filing Date: 2025-08-07
Form: 10-Q
Item: Part I, Item 8
Chunk 49
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, and accounts payable approximate the carrying amounts due to the short-term maturities of these instruments. The fair value of our debt is estimated using fair value-based risk measurements that are indirectly observable, such as credit risk that fall within Level 2 of the Fair Value hierarchy. Our debt approximates its carrying amount as of June 28, 2025 and December 28, 2024 due to its variable interest rate that is tied to the current Secured Overnight Financing Rate (“SOFR”) rate plus an applicable margin (see Notes 9 and 10 to our Unaudited Condensed Consolidated Financial Statements in this Form 10-Q for a further discussion of our debt). Cash equivalents are highly liquid investments purchased three months or less from maturity. 

Significant Accounting Policies Our significant accounting policies have not changed materially from those described in its Annual Report on Form 10-K for the fiscal year ended December 28, 2024.Cash and Cash EquivalentsCash and cash equivalents include short-term highly liquid investments that are readily convertible to known amounts of cash and have maturities of three months or less from the date of purchase. Interest income on cash equivalents is offset against interest expense on the Unaudited Condensed Consolidated Statements of Operations and Comprehensive Income. Interest income was $1.2 and $2.3 for the three and six month periods ended June 28, 2025, respectively. Interest income was $0.4 for the three and six month periods ended June 29, 2024. Accounts Receivable and Allowance for Credit Losses Accounts receivable primarily arise from the sale of products and services to customers. Accounts receivable are recorded at the invoiced amount and do not bear interest. Additionally, accounts receivable are stated at estimated net realizable value, net of allowance for credit losses, which is based on our assessment of the collectability of customer accounts. The activity for the allowance for credit losses during the six month periods ended June 28, 2025 and June 29, 2024, is as follows:(dollar amounts in millions)Balance at December 28, 2024$18.1 Write-offs (3.8)Provision for expected credit losses, net0.3 Balance at June 28, 2025$14.6 (dollar amounts in millions)Balance at December 30, 2023$3.6 Write-offs (0.1)Provision for expected credit losses, net0.5