AVALON HOLDINGS CORP
For the period ended Dec 31, 2024. Filed Mar 20, 2025.
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FY2024 · Filed Mar 20, 2025
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EX-13.1 · Interest Expense
Interest Expense
Net interest expense was approximately $2.0 million in 2024 compared to $2.1 million in 2023. During 2024, the slight decrease in net interest expense was primarily result of a higher interest rate earned on our restricted cash savings, resulting in additional interest income. The additional interest income was an offset to interest expense in 2024 compared to 2023. The weighted average debt outstanding during 2024 was approximately $33.2 million compared to $32.9 million in 2023. During the years ended December 31, 2024 and 2023, the weighted average interest rate on outstanding borrowings was 6.24% and 6.17%, respectively.
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