Company: CVGI
Filing Date: 2025-11-10
Form Type: 10-Q
Source: 0001628280-25-051174
Chunk: 21

Company: Commercial Vehicle Group, Inc.
Filing Date: 2025-11-10
Form: 10-Q
Item: Item 1
Chunk 21
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 Total lease expense$4,249 $3,906 $12,982 $10,888 Supplemental balance sheet information related to leases is as follows:Balance Sheet LocationSeptember 30, 2025December 31, 2024Operating LeasesRight-of-use assets, netOther assets, net$33,402 $29,931 Current liabilitiesAccrued liabilities and other8,088 8,033 Non-current liabilitiesOther long-term liabilities26,304 22,795      Total operating lease liabilities$34,392 $30,828 Finance Leases     Right-of-use assets, netOther assets, net$217 $97 Current liabilitiesAccrued liabilities and other61 57 Non-current liabilitiesOther long-term liabilities159 37      Total finance lease liabilities$220 $94 Cash payments on operating leases were $8.7 million and $7.3 million for the nine months ended September 30, 2025 and 2024, respectively. 

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Anticipated future lease costs, which are based in part on certain assumptions to approximate annual rental commitments under non-cancelable leases, are as follows:OperatingFinancingTotalRemainder of 2025$3,093 $35 $3,128 202610,920 139 11,059 20277,619 117 7,736 20285,861 110 5,971 20294,507 105 4,612 Thereafter12,441 37 12,478 Total lease payments$44,441 $543 $44,984 Less: Imputed interest(10,049)(323)(10,372)Present value of lease liabilities$34,392 $220 $34,612 

8. Income Taxes

We recorded a $0.7 million tax provision, or (11)% effective tax rate for the three months ended September 30, 2025, and $4.5 million tax provision, or (47)% effective tax rate for the nine months ended September 30, 2025, compared to a $1.5 million tax benefit, or 63% effective tax rate for the three months ended September 30, 2024, and 1.1 million tax benefit, or 60% effective tax rate for the nine months ended September 30, 2024. The effective tax rate is impacted by