Perimeter Solutions SA
For the period ended Mar 31, 2024. Filed May 9, 2024.
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A company's report for each of its first three quarters. The financial statements are not audited. It shows how the business has moved since the last annual report, and what management says changed.
Mar 31, 2024 · Filed May 9, 2024
Extracted filing text, with the paragraph anchors used by the comparison.
See the whole filing, with its images and exhibitsContents
. Leases
- LEASES
Lease costfor the three months ended March 31, 2024 and 2023 are as follows (in thousands):
| Three Months Ended March 31, | ||
|---|---|---|
| 2024 | 2023 | |
| Operating lease cost (1) | $913 | $1,153 |
| Finance lease cost: | ||
| Amortization of right-of-use assets | 341 | — |
| Interest on lease liabilities | 138 | — |
| Total lease cost | $1,392 | $1,153 |
| Reported in: | ||
| Cost of goods sold | $1,233 | $1,092 |
| Selling, general and administrative expense | 159 | 61 |
| Total lease cost | $1,392 | $1,153 |
(1)Operating lease cost does not include short-term leases or variable costs, all of which are immaterial.
As of March 31, 2024, the weighted-average remaining lease terms of the Company’s operating leases and finance leases were approximately 8.2 years and 7.0 years, respectively, and the weighted-average discount rates applied were 6.7% and 7.6%, respectively.
Supplemental cash flow information related to leasesfor the three months ended March 31, 2024 and 2023 are as follows (in thousands):
| Three Months Ended March 31, | ||
|---|---|---|
| 2024 | 2023 | |
| Cash paid for amounts included in the measurement of operating lease liabilities: | ||
| Operating cash flows for operating leases | $838 | $1,169 |
| Operating cash flows for finance leases | 130 | — |
| Financing cash flows for finance leases | 172 | — |
| Right-of-use assets obtained in exchange for new lease obligations: | ||
| Operating leases | $97 | $10 |
| Financing leases | 686 | — |
As of March 31, 2024, the estimated future minimum payment obligations for non-cancelable operating and finance leases are as follows (in thousands):
| Operating Leases · Finance Leases | ||
|---|---|---|
| Remainder of 2024 | $2,371 | $949 |
| 2025 | 3,142 | 1,177 |
| 2026 | 2,811 | 1,049 |
| 2027 | 2,667 | 889 |
| 2028 | 1,995 | 1,632 |
| Thereafter | 9,065 | 4,063 |
| Total lease payments | 22,051 | 9,759 |
| Less: imputed interest | (5,385) | (2,798) |
| Present value of lease liabilities | $16,666 | $6,961 |
The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.