Company: BHE
Filing Date: 2025-02-27
Form Type: 10-K/A
Source: 0000950170-25-029247
Chunk: 20

Company: BENCHMARK ELECTRONICS INC
Filing Date: 2025-02-27
Form: 10-K/A
Chunk 20
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 in letters of credit outstanding under the Revolving Credit Facility. As of December 31, 2024, the Company had $ 410.6 million available for future borrowings under the Revolving Credit Facility subject to compliance with financial covenants as to interest coverage and debt leverage, in addition to other debt covenant restrictions. As of December 31, 2024, the Company's long-term debt matures as follows: $ 6.6 million in 2025 and $ 251.5 million in 2026 . The Company has no maturities after 2026.

Note 6 – Leases

The Company determines if a contract is or contains a lease at inception. The Company leases certain facilities, vehicles and other equipment. The Company’s leases primarily consist of operating leases which expire at various dates through 2036. Variable lease payments are generally expensed as incurred and primarily include certain index-based changes in rent and certain non-lease components, such as maintenance and other services provided by the lessor.

The components of lease expense were as follows:

|                                                                        | (in thousands) | Year Ended   
 December 31, |   2024 |     |   |   2023 |     |   |   2022 |
|:-----------------------------------------------------------------------|:---------------|:-------------|-------:|:----|:--|-------:|:----|:--|-------:|
| Finance lease costs:                                                   |                |              |        |     |   |        |     |   |        |
| Amortization of right-of-use assets (included in depreciation expense) |                | $            |      — |     | $ |     48 |     | $ |     96 |
| Interest on lease liabilities                                          |                |              |     12 |     |   |     21 |     |   |     29 |
| Operating lease costs                                                  |                |              | 22,264 |     |   | 19,280 |     |   | 17,485 |
| Short-term lease costs                                                 |                |              |    704 |     |   |    618 |     |   |    307 |
| Variable lease costs                                                   |                |              |  1,924 |     |   |  1,770 |     |   |  1,892 |
| Total lease costs                                                      |                | $            | 24,904 |     | $ | 21,737 |     | $