Company: UFPT
Filing Date: 2025-08-11
Form Type: 10-Q
Source: 0001171843-25-005268
Chunk: 58

Company: UFP TECHNOLOGIES INC
Filing Date: 2025-08-11
Form: 10-Q
Item: Part I, Item 1
Chunk 58
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 information consists of the following (in thousands):

			Six Months Ended

			June 30,

			2025

			2024

			Cash paid for:

			Interest

			$
			5,528

			$
			1,228

			Income taxes, net of refunds

			881

			5,735

			Non-cash investing and financing activities:

			Capital additions accrued but not yet paid

			$
			275

			$
			102

			(6)

			Receivables and Allowance for Credit Losses

Receivables consist of the following (in thousands):

			June 30,

			December 31,

			December 31,

			2025

			2024

			2023

			Accounts receivable–trade

			$
			85,693

			$
			85,562

			$
			65,176

			Less allowance for credit losses

			(762
			)

			(885
			)

			(727
			)

			Receivables, net

			$
			84,931

			$
			84,677

			$
			64,449

14

The Company is exposed to credit losses primarily through sales of products and services. The Company’s expected loss allowance methodology is developed using historical collection experience, current and future economic and market conditions, and a review of the current status of customers' trade accounts receivables. The estimate of the amount of accounts receivable that may not be collected is based on the aging of the accounts receivable balances as well as the financial condition of customers. Additionally, specific allowance amounts are established to record the appropriate provision for customers that have a higher probability of default. The Company’s monitoring activities include timely account reconciliation, dispute resolution, payment confirmation, consideration of customers' financial condition and macroeconomic conditions. Balances are written off when determined to be uncollectible.

The following table provides a roll-forward of the allowance for credit losses that is deducted from accounts receivable to present the net amount expected to be collected for the six months ended June 30, 2025 and 2024 (in thousands):

			Allowance for Credit Losses

			Six Months Ended June 30, 

			2025

			2024

			Allow