Company: STGW
Filing Date: 2025-03-11
Form Type: 10-K
Source: 0000876883-25-000009
Chunk: 135

Company: Stagwell Inc
Filing Date: 2025-03-11
Form: 10-K
Item: Item 8
Chunk 135
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aterial.In the year ended December 31, 2024, the Company ceased using certain office space and as such recognized a charge of $1.7 million to reduce the carrying value of two of its right-of-use lease assets and related leasehold improvements. The right-of-use lease assets and related leasehold improvements were related to an agency within the Integrated Agencies Network and to Corporate.In the year ended December 31, 2023, the Company ceased using certain office space and as such recognized a charge of $10.0 million to reduce the carrying value of four of its right-of-use assets and related leasehold improvements. The right-of-use lease assets were related to agencies within the Integrated Agencies Network and the Brand Performance Network. In the year ended December 31, 2022, the Company recognized a charge of $2.6 million, to reduce the carrying value of three of its right-of-use lease assets and related leasehold improvements. The right-of-use lease assets and related leasehold improvements related to agencies within the Integrated Agencies Network and the Brand Performance Network. With regard to the aforementioned impairments, the Company evaluated the facts and circumstances related to the use of the assets which indicated that they may not be recoverable. Using sublease income to develop expected future cash flows, it was determined that the fair value of the assets was less than their carrying value. The impairment charge is included in Impairment and other losses within the Consolidated Statements of Operations.

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The following table presents minimum future rental payments under the Company’s leases as of December 31, 2024, and their reconciliation to the corresponding lease liabilities: Maturity Analysis(dollars in thousands)2025$75,646 202663,482 202755,380 202849,550 202944,696 Thereafter72,152 Total360,906 Less: Present value discount(55,314)Lease liability$305,592 

11. DebtThe following tables present the Company’s indebtedness as reported on the Consolidated Balance Sheets as of December 31,:20242023(dollars in thousands)Credit Agreement$264,000 $59,000 5.625% Notes1,100,000 1,100,000 Debt issuance costs(10,376)(13,172)5.625% Notes, net of debt issuance costs1,089,624 1,086,828 Total long-term debt$1,353,624 $1,145