Company: NOTV
Filing Date: 2025-05-08
Form Type: 10-Q
Source: 0001628280-25-023370
Chunk: 145

Company: Inotiv, Inc.
Filing Date: 2025-05-08
Form: 10-Q
Item: Part II, Item 8
Chunk 145
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088 Fees invoiced in advance$40,463 $41,986 The composition of other liabilities is as follows: March 31,September 30,20252024Long-term client deposits$16,966 $16,966 Long-term finance leases2,427 433 Other534 564 Resolution and Plea Agreements (1)17,399 17,000 Other long-term liabilities$37,326 $34,963 (1) Pursuant to the Resolution Agreement and Plea Agreement, the Company paid $6,500 during fiscal 2024 and expects to pay an additional $22,000 over multiple years. Accordingly, the Company has included $17,000 in other long-term liabilities on its condensed consolidated balance sheets as of each of March 31, 2025 and September 30, 2024. Further, all interest accrued on the liabilities associated with the Resolution Agreement and Plea Agreement is payable at the time of the due date of the final payment, which is June 3, 2028. Therefore, accrued interest related to the Resolution and Plea Agreements is also presented within other long-term liabilities. Beginning in October 2024, interest accrues on the entire unpaid balance of the liabilities associated with the Resolution and Plea Agreements at an annual rate of 4.18%.

6.    DEFINED BENEFIT PLAN

The Company has a defined benefit plan in the U.K., the Harlan Laboratories UK Limited Occupational Pension Scheme (the "Pension Plan"), which operated through April 2012. As of April 30, 2012, the accumulation of plan benefits of employees in the Pension Plan was permanently suspended and therefore the Pension Plan was curtailed. During the year ending September 30, 2025, the Company expects to contribute $0 to the Pension Plan. As of March 31, 2025, the funded status of the defined benefit plan obligation of $3,126 is included in other assets (non-current) in the condensed consolidated balance sheets. Net periodic expense is included in the condensed consolidated statements of operations in general and administrative expenses.The following table provides the components of net periodic benefit costs for the Pension Plan, which is included in general and administrative expenses in the condensed consolidated statements of operations.Three Months EndedMarch 31,Six Months EndedMarch 31,2025202420252024Components of net periodic expense:Interest cost$186 $185 $364 $366