Company: CRL
Filing Date: 2025-11-05
Form Type: 10-Q
Source: 0001100682-25-000043
Chunk: 39

Company: CHARLES RIVER LABORATORIES INTERNATIONAL, INC.
Filing Date: 2025-11-05
Form: 10-Q
Item: Item 2
Chunk 39
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 execution of a Cooperation Agreement entered into with a shareholder earlier this year. Costs as a percentage of revenue for the nine months ended September 27, 2025 were 6.2%, a decrease of 20 bps from 6.4% for the corresponding period in 2024.

Other Income (Expense)

Nine Months EndedSeptember 27, 2025September 28, 2024$ change% change(in thousands, except percentages)Other income (expense):Interest income$3,923 $6,740 $(2,817)(41.8)%Interest expense(83,254)(98,054)14,800 (15.1)%Other income (expense), net(34,675)6,185 (40,860)(660.6)%Total other expense, net$(114,006)$(85,129)$(28,877)33.9 %

Interest income for the nine months ended September 27, 2025 was $3.9 million, a decrease of $2.8 million, or 41.8%, driven primarily from lower interest rates and interest earning asset balances.

Interest expense for the nine months ended September 27, 2025 was $83.3 million, a decrease of $14.8 million, or 15.1%, compared to $98.1 million in the corresponding period in 2024 due primarily to lower average debt balances.

Other expense, net for the nine months ended September 27, 2025 was $34.7 million compared to Other income, net of $6.2 million for the corresponding period in 2024 due primarily to venture capital investment losses and impairments of $10.3 million as compared to gains of $8.4 million coupled with strategic equity investment losses and impairments of $23.7 million as compared to $9.4 million of net losses and impairments in the corresponding period in 2024.

Income Taxes

Nine Months EndedSeptember 27, 2025September 28, 2024$ change% change(in thousands, except percentages)Provision for income taxes$60,469 $70,867 $(10,398)(14.7)%Effective tax rate31.1 %22.9 %820 bps

Income tax expense for the nine months ended September 27, 2025 was $60.5 million, a decrease of $10.4 million compared to $70.9 million for the corresponding period