Company: CVGI
Filing Date: 2025-03-17
Form Type: 10-K
Source: 0001628280-25-012913
Chunk: 104

Company: Commercial Vehicle Group, Inc.
Filing Date: 2025-03-17
Form: 10-K
Item: Item 8
Chunk 104
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ryingAmountFair ValueTerm loan and security agreement 1$85,000 $84,363 $141,514 $139,213 Revolving Credit Facility $50,500 $50,500 $— $— 1    Presented in the Consolidated Balance Sheets as the current portion of long-term debt of $8.4 million and long-term debt of $76.6 million as of December 31, 2024, and current portion of long-term debt of $15.3 million and long-term debt of $126.2 million as of December 31, 2023.

6.    Leases 

The Company leases office, warehouse and manufacturing space and certain equipment under non-cancelable operating lease agreements that generally require us to pay maintenance, insurance, taxes and other expenses in addition to annual rental fees. Our leases have remaining lease terms of one year to eighteen years, some of which include options to extend the leases for up to five years, and some of which include options to terminate the leases within one year.The components of lease expense are as follows: Twelve Months Ended December 31,20242023Operating lease cost$10,289 $9,225 Finance lease cost:     Amortization of right-of-use assets92 150      Interest on lease liabilities9 14 Finance lease cost$101 $164 Short-term lease cost 14,423 6,168 Total lease expense$14,813 $15,557 1.Includes variable lease costs, which are not significant. Supplemental cash flow information related to leases is as follows: Twelve Months Ended December 31, 2024Twelve Months Ended December 31, 2023Cash paid for amounts included in the measurement of lease liabilities:     Operating cash flows from operating leases$8,797 $8,843      Financing cash flows from finance leases$107 $154 

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Supplemental balance sheet information related to leases is as follows:Balance Sheet LocationDecember 31, 2024December 31, 2023Operating LeasesRight-of-use assets, netOperating lease right-of-use asset, net$29,931 $31,165 Current liabilitiesCurrent operating lease liabilities8,033 7,502 Non-current liabilitiesLong-term operating lease liabilities22,795 24,417      Total operating lease liabilities$30,828 $31,919