Company: UFPT
Filing Date: 2025-11-07
Form Type: 10-Q
Source: 0001628280-25-050425
Chunk: 71

Company: UFP TECHNOLOGIES INC
Filing Date: 2025-11-07
Form: 10-Q
Item: Part I, Item 8
Chunk 71
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 determining the present value of lease payments.ROU assets and lease liabilities consist of the following (in thousands):September 30,2025December 31,2024Operating lease ROU assets$18,881 $16,056 Finance lease ROU assets47 92 Total ROU assets$18,928 $16,148 Operating lease liabilities - current$4,909 $4,165 Finance lease liabilities - current43 61 Total lease liabilities - current$4,952 $4,226 Operating lease liabilities - long-term$14,431 $12,398 Finance lease liabilities - long-term6 34 Total lease liabilities - long-term$14,437 $12,432 

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The components of lease costs for the nine months ended September 30, 2025 and 2024 consist of the following (in thousands):Nine Months Ended September 30,20252024Lease Cost:Finance lease cost:Amortization of right of use assets$45 $71 Interest on lease liabilities1 5 Operating lease cost3,691 2,776 Variable lease cost531 241 Short-term lease cost151 136 Total lease cost$4,419 $3,229 Weighted-average remaining lease term (years):Finance1.131.40Operating6.024.21Weighted-average discount rate:Finance2.15 %2.11 %Operating5.45 %4.87 %The following table provides additional details of cash flow information related to the Company's leases (in thousands):Nine Months Ended September 30,20252024Cash paid for amounts included in measurement of lease liabilities:Operating cash flows from operating leases$3,571 $2,723 Financing cash flows from finance leases$47 $58 Total operating cash flows$3,618 $2,781 Supplemental non-cash information:ROU assets obtained in exchange for new lease liabilities$3,784 $4,078 

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The aggregate future lease payments for leases as of September 30, 2025 are as follows (in thousands):OperatingFinanceRemainder of 2025$1,310 $16 20265,305 29 20274,665 6 20283,632 — 20293,247 — Thereafter4,153 — Total lease payments22,312 51