Company: NOTV
Filing Date: 2025-08-07
Form Type: 10-Q
Source: 0001628280-25-039017
Chunk: 36

Company: Inotiv, Inc.
Filing Date: 2025-08-07
Form: 10-Q
Item: Part I, Item 1
Chunk 36
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 Company paid $6,500 during fiscal 2024 and $5,000 during the three months ended June 30, 2025 and expects to pay an additional $17,000 over multiple years. 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 Agreement and Plea Agreement 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 Agreement and Plea Agreement at an annual rate of 4.18%. Accordingly, the Company has included $12,613 and $17,000 in other long-term liabilities on its condensed consolidated balance sheets as of June 30, 2025 and September 30, 2024, respectively. 

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 

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ending September 30, 2025, the Company expects to contribute $0 to the Pension Plan. As of June 30, 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 EndedJune 30,Nine Months EndedJune 30,2025202420252024Components of net periodic benefit:Interest cost$191 $185 $555 $551 Expected return on assets(238)(196)(690)(585)Amortization of prior gain, net(24)(36)(71)(106)Net periodic benefit$(71)$(47)$(206)$(140)

7.    OTHER OPERATING EXPENSE

Other operating expense consisted of the following:Three Months EndedJune 30,Nine Months EndedJune 30,2025202420252024Acquisition and integration