Company: OCC
Filing Date: 2025-09-11
Form Type: 10-Q
Source: 0001437749-25-028857
Chunk: 23

Company: OPTICAL CABLE CORP
Filing Date: 2025-09-11
Form: 10-Q
Item: Item 1
Chunk 23
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 the weighted average discount rate was 7.1% as of July 31, 2025.

For the three months ended July 31, 2025, cash paid for the finance lease liabilities totaled $2,070 for interest and $12,449 for principal. For the nine months ended July 31, 2025, cash paid for the finance lease liabilities totaled $4,098 for interest and $31,854 for principal. For the three months ended July 31, 2024, cash paid for the finance lease liability totaled $1,297 for interest and $9,419 for principal. For the nine months ended July 31, 2024, cash paid for the finance lease liability totaled $4,224 for interest and $27,927 for principal.

The Company’s future payments due under leases reconciled to the lease liabilities are as follows:

			Fiscal Year

			Operating 

			leases

			Finance 

			leases

			2025    (1)

			$
			147,390

			$
			22,121

			2026

			540,420

			101,330

			2027

			493,180

			45,616

			2028

			510,241

			45,616

			2029

			527,981

			45,616

			Thereafter

			44,122

			30,411

			Total undiscounted lease payments

			2,263,334

			290,710

			Present value discount

			(407,468
			)

			(40,928
			)

			Total lease liability

			$
			1,855,866

			$
			249,782

(1) Remaining three months of fiscal year 2025.

			(8)

			Fair Value Measurements

The carrying amounts reported in the condensed consolidated balance sheets as of July 31, 2025 and October 31, 2024 for cash, trade accounts receivable, income taxes refundable – current, other receivables, current installments of long-term debt, accounts payable and accrued expenses, accrued compensation and payroll taxes, and income taxes payable approximate fair value because of the short maturity of these instruments. The carrying value reported in the condensed consolidated balance sheets as of July 31,