Company: CRL
Filing Date: 2025-02-19
Form Type: 10-K
Source: 0001100682-25-000011
Chunk: 171

Company: CHARLES RIVER LABORATORIES INTERNATIONAL, INC.
Filing Date: 2025-02-19
Form: 10-K
Item: Item 8
Chunk 171
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 and capitalized approximately $5.0 million of debt issuance costs incurred as a reduction to total outstanding debt. 

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CHARLES RIVER LABORATORIES INTERNATIONAL, INC.NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (Continued)

2028 Senior NotesIn fiscal year 2019, the Company issued $500 million of 4.25% Senior Notes due in 2028 (2028 Senior Notes) in an unregistered offering. Interest on the 2028 Senior Notes is payable semi-annually.2029 Senior Notes and 2031 Senior NotesIn fiscal year 2021, the Company issued $1 billion of debt split between $500 million of 3.75% Senior Notes due in 2029 (2029 Senior Notes), and $500 million of 4.00% Senior Notes due in 2031 (2031 Senior Notes), in an unregistered offering. Interest on the 2029 and 2031 Senior Notes is payable semi-annually.Foreign currency transactionsDuring fiscal year 2022, the Company had multiple U.S. dollar denominated loans borrowed by a non-U.S. Euro functional currency entity under the Prior Credit Facility, which were between $250 million and $400 million each. To limit this foreign currency exposure, the Company entered into foreign exchange forward contracts, which are not designated as hedging instruments. The gains and losses incurred on these transactions were as follows: December 31, 2022Affected Line Item in the Consolidated Statements of Income(in thousands)Gain on foreign exchange forward contract$49,712 Interest expenseLoss on foreign debt remeasurement(46,529)Other income (expense)The Company did not have any U.S. dollar denominated loans borrowed by a non-U.S. Euro functional currency entity under the Credit Facility during fiscal years 2024 or 2023.Principal Maturities Principal maturities of existing debt for the periods set forth in the table below, are as follows:Fiscal YearPrincipal(in thousands)2025$800 20261,509 20272,826 2028502,909 20291,217,932 Thereafter504,575 Total$2,230,551 Letters of CreditAs of December 28, 2024 and December 30, 2023, the Company had $22.4 million and $21.6 million, respectively, in outstanding letters of credit.

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CHARLES RIVER LABOR