Company: OCC
Filing Date: 2025-09-11
Form Type: 10-Q
Source: 0001437749-25-028857
Chunk: 22

Company: OPTICAL CABLE CORP
Filing Date: 2025-09-11
Form: 10-Q
Item: Item 1
Chunk 22
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2024, cash paid for operating lease liabilities totaled $112,670 and $335,628, respectively. For the three months ended July 31, 2025, there were no right-of-use assets obtained in exchange for new operating lease liabilities. For the nine months ended July 31, 2025, right-of-use assets obtained in exchange for new operating lease liabilities totaled $266,141 and there was a reduction in right-of-use assets for terminated lease liabilities totaling $21,344. For the three months and nine months ended July 31, 2024, there were no right-of-use assets obtained in exchange for new operating lease liabilities.

For the three months and nine months ended July 31, 2025, right-of-use assets obtained in exchange for new finance lease liabilities totaled $188,185. For the three months and nine months ended July 31, 2024, there were no right-of-use assets obtained in exchange for new finance lease liabilities.

10

OPTICAL CABLE CORPORATION

Condensed Notes to Condensed Consolidated Financial Statements

Nine Months Ended July 31, 2025

(Unaudited)

Finance lease right-of-use assets of $274,770 and $111,844 were included in other assets at July 31, 2025 and October 31, 2024, respectively. Finance lease liabilities of $72,903 and $176,879 were included in accounts payable and accrued expenses, and other noncurrent liabilities, respectively, at July 31, 2025. Finance lease liabilities of $39,277 and $54,174 were included in accounts payable and accrued expenses, and other noncurrent liabilities, respectively, at October 31, 2024. Interest expense related to the finance leases totaled $2,070 and $4,098, respectively, for the three months and nine months ended July 31, 2025. Interest expense related to the finance lease totaled $1,297 and $4,224, respectively, for the three months and nine months ended July 31, 2024. For the three months and nine months ended July 31, 2025, amortization expense related to the finance leases totaled $10,511 and $25,260, respectively. For the three months and nine months ended July 31, 2024, amortization expense related to the finance lease totaled $7,374 and $22,123.

The weighted average remaining lease term for the finance leases was 47.2 months and