Company: STGW
Filing Date: 2025-05-08
Form Type: 10-Q
Source: 0000876883-25-000017
Chunk: 14

Company: Stagwell Inc
Filing Date: 2025-05-08
Form: 10-Q
Item: Item 8
Chunk 14
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 thousands)Operating lease cost$17,118$20,946Variable lease cost6,0075,937Sublease rental income(2,135)(2,480)Total lease cost$20,990$24,403Additional information:Cash paid for amounts included in the measurement of lease liabilities for operating leasesOperating cash flows$20,185$21,660Right-of-use lease assets obtained in exchange for operating lease liabilities and other non-cash adjustments$1,520$5,967As of March 31, 2025, the weighted average remaining lease term was 5.7 years, and the weighted average discount rate was 5.7%.Operating lease expense is included in Office and general expenses in the Unaudited Consolidated Statements of Operations. The Company’s lease expense for leases with a term of 12 months or less is immaterial.The following table presents minimum future rental payments under the Company’s leases as of March 31, 2025, and their reconciliation to the corresponding lease liabilities: Maturity Analysis(dollars in thousands)2025$54,714 202662,375 202753,918 202846,596 202942,366 Thereafter71,271 Total331,240 Less: Present value discount(50,527)Lease liability$280,713 

8. DebtThe following tables present the Company’s indebtedness as reported on the Unaudited Consolidated Balance Sheets as of March 31, 2025 and December 31, 2024:March 31, 2025December 31, 2024(dollars in thousands)Credit Agreement$375,000 $264,000 5.625% Notes1,100,000 1,100,000 Debt issuance costs(9,677)(10,376)5.625% Notes, net of debt issuance costs1,090,323 1,089,624 Total long-term debt$1,465,323 $1,353,624 Interest expense related to long-term debt included in Interest expense, net on the Unaudited Consolidated Statements of Operations for the three months ended March 31, 2025 and 2024 was $22.7 million and $20.4 million, respectively.

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The amortization of debt issuance costs included in Interest expense, net on the Unaudited Consolidated Statements of Operations for the three months ended March 31, 2025 and