Company: UFPT
Filing Date: 2025-05-12
Form Type: 10-Q
Source: 0001171843-25-003049
Chunk: 20

Company: UFP TECHNOLOGIES INC
Filing Date: 2025-05-12
Form: 10-Q
Item: Part I, Item 8
Chunk 20
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12.3 years

			13.2 years

			8.7 years

			Gross amount

			$
			130,162

			$
			27,664

			$
			1,038

			$
			6,721

			$
			165,585

			Accumulated amortization

			(17,307
			)

			(2,987
			)

			(289
			)

			(2,334
			)
			 
			$
			(22,917
			)

			Net balance

			$
			112,855

			$
			24,677

			$
			749

			$
			4,387

			$
			142,668

Amortization expense related to intangible assets was approximately $2.4 million and $1.0 million for the three-month periods ended March 31, 2025 and 2024, respectively. The estimated remaining amortization expense as of March 31, 2025 is as follows (in thousands):

			Remainder of 2025

			$
			7,188

			2026

			9,581

			2027

			9,528

			2028

			9,482

			2029

			9,452

			Thereafter

			97,437

			Total

			$
			142,668

			(15)

			Other Long-Term Liabilities

Other long-term liabilities consist of the following (in thousands):

			March 31,

			December 31,

			2025

			2024

			Accrued contingent consideration (earn-out)

			$
			5,077

			$
			4,989

			Present value of non-competition payments

			3,241

			4,938

			Other

			500

			1,217

			$
			8,818

			$
			11,144

			(16)

			Income Taxes

The determination of income tax expense in the accompanying unaudited condensed consolidated statements of income is based upon the estimated effective tax rate for the year, adjusted for the impact of any discrete items which are accounted for in