Company: CODI-PB
Filing Date: 2025-12-08
Form Type: 10-K/A
Source: 0001345126-25-000078
Chunk: 288

Company: Compass Diversified Holdings
Filing Date: 2025-12-08
Form: 10-K/A
Chunk 288
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 obligations, including the Lugano financing arrangements which are classified as current. As noted above, the Company was not in compliance with the financial covenants as required by the 2022 Credit Facility as of the years ended December 31, 2024 and 2023 and as a result, the 2022 Revolving Credit Facility, the 2022 Term Loan and the 2029 and 2032 Senior Notes have been classified as current in the accompanying Consolidated Balance Sheets at December 31, 2024 and 2023. The contractual annual maturities of the Company's debt obligations are as follows ( restated, in thousands ):

| 2025                |     | $ |   184,765 |
| 2026                |     |   |    25,000 |
| 2027                |     |   |   445,000 |
| 2028                |     |   |         — |
| 2029                |     |   | 1,000,000 |
| 2030 and thereafter |     |   |   300,000 |
|                     |     | $ | 1,954,765 |

Letters of credit

The 2022 Credit Facility allows for letters of credit in an aggregate face amount of up to $ 100million. Letters of credit outstanding at December 31, 2024 and December 31, 2023 totaled $ 3.5million and $ 2.2million, respectively.

Debt Issuance Costs

Deferred debt issuance costs represent the costs associated with the issuance of the Company's financing arrangements. In connection with entering into the 2022 Credit Facility, the Company recognized $ 2.5million in deferred financing costs associated with the 2022 Term Loan, and $ 2.8million in deferred financing costs associated with the 2022 Revolving Credit Facility. The Company recorded $ 5.4million in deferred financing costs in connection with entry into the 2021 Credit Facility, $ 0.5million of which was recorded as a loss on debt extinguishment upon entry into the 2022 Credit Facility.

Since the Company can borrow, repay and reborrow principal under the 2022 Revolving Credit Facility, the debt issuance costs associated with the 2022 Revolving Credit Facility have been classified as other non-current assets in the accompanying consolidated balance sheet. The debt issuance costs associated with the 2022 Term Loan and Senior Notes are classified as a reduction of long