Company: QXO-PB
Filing Date: 2025-11-06
Form Type: 10-Q
Source: 0001628280-25-050298
Chunk: 151

Company: QXO, Inc.
Filing Date: 2025-11-06
Form: 10-Q
Item: Part I, Item 8
Chunk 151
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, 2025, there were $17.2 million of unamortized debt issuance costs related to the ABL Facility. As of September 30, 2025, the outstanding balance on the ABL Facility was $43.0 million. The Borrower and its restricted subsidiaries also had $21.2 million in outstanding standby letters of credit issued under the ABL Facility as of September 30, 2025.

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Other InformationAs of September 30, 2025, principal payments on outstanding debt mature after December 31, 2029.Under the terms of the ABL Facility, the Term Loan Facility and the Notes, QXO Building Products is limited in making certain restricted payments, including dividends on its common stock. Based on the provisions in the respective debt agreements and given the Company’s intention to not pay common stock dividends in the foreseeable future, the Company does not believe that the restrictions are significant.

10. Leases

The Company primarily operates in leased facilities, which are accounted for as operating leases. The real estate leases expire between 2025 and 2037. The Company also leases equipment such as trucks and forklifts. Equipment leases are accounted for as either operating or finance leases. The equipment leases expire between 2025 and 2032.The following table presents components of lease costs recognized in the condensed consolidated statements of operations: Three Months Ended September 30,Nine Months Ended September 30,(in millions)2025202420252024Operating lease costs$41.6 $0.1 $71.0 $0.2 Finance lease costs:Amortization of right-of-use assets11.9 — 19.6 0.1 Interest on lease obligations2.9 — 4.9 — Variable lease costs4.9 — 8.1 — Total lease costs$61.3 $0.1 $103.6 $0.3 The following table presents supplemental cash flow information related to the Company’s leases: Nine Months Ended September 30,(in millions)20252024Cash paid for amounts included in measurement of lease obligations:Operating cash outflows from operating leases$66.7 $0.2 Operating cash outflows from finance leases$4.9 $— Financing cash outflows from finance leases$18.5 $0.2 Right-of-use assets obtained in exchange for new finance lease liabilities$21