Ultra Clean Holdings Inc
For the period ended Sep 27, 2024. Filed Oct 30, 2024.
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Sep 27, 2024 · Filed Oct 30, 2024
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Leases
- LEASES
The Company leases land, offices, facilities and equipment in locations throughout the United States, Asia Pacific and EMEA.
In 2023, the Company entered into a 60-year land lease in Malaysia with the intent of building a manufacturing site. The commencement date of the lease occurred in July 2024 contemporaneous with the Company obtaining control of the identified asset.
In the first quarter of 2024, the Company commenced a 10-year lease of manufacturing space in Austin, Texas, with a single 7-year renewal option at lease end. Additionally, the Company’s subsidiary in Czech Republic entered into 8-year lease of additional manufacturing and office space.
As a result, $21.9 million and $16.8 million were recorded at commencement date to operating lease right-of-use assets and to operating lease liabilities, respectively, in the Company’s Condensed Consolidated Balance Sheet .
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