Company: NOTV
Filing Date: 2025-05-08
Form Type: 10-Q
Source: 0001628280-25-023370
Chunk: 49

Company: Inotiv, Inc.
Filing Date: 2025-05-08
Form: 10-Q
Item: Part I, Item 1
Chunk 49
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 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 and Plea Agreements 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 and Plea Agreements at an annual rate of 4.18%.

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 ending September 30, 2025, the Company expects to contribute $0 to the Pension Plan. As of March 31, 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 EndedMarch 31,Six Months EndedMarch 31,2025202420252024Components of net periodic expense:Interest cost$186 $185 $364 $366 Expected return on assets(231)(197)(452)(389)Amortization of prior loss(24)(35)(47)(70)Net periodic expense$(69)$(47)$(135)$(93)

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7.    OTHER OPERATING INCOME / EXPENSE

Other operating (income) expense consisted of the following:Three Months EndedMarch 31,Six Months EndedMarch 31,2025202420252024Acquisition and integration costs$— $— $— $70 Restructuring costs 11,009 1,368 1,233 2,402 Startup costs558 967 1,117 1,797 Remediation costs— 369 — 652 Other costs1,858 1,236 3,152 2,338 Settlement Agreement 2(7,550)— (7,