Perimeter Solutions, SA Quarterly report pursuant to Section 13 or 15(d)

LEASES (Tables)

6 Months Ended

Jun. 30, 2024

Lease cost for the three and six months ended June 30, 2024 and 2023 are as follows (in thousands):


	Three Months Ended June 30,				Six Months Ended June 30,
	2024		2023		2024		2023
Operating lease cost (1)	$	839	$	1,117	$	1,752	$	2,271
Finance lease cost:
Amortization of right-of-use assets	259		118		600		118
Interest on lease liabilities	132		75		270		75
Total lease cost	$	1,230	$	1,310	$	2,622	$	2,464

Reported in:
Cost of goods sold	$	1,090	$	1,171	$	2,323	$	2,264
Selling, general and administrative expense	140		139		299		200
Total lease cost	$	1,230	$	1,310	$	2,622	$	2,464

(1)Operating lease cost does not include short-term leases or variable costs, all of which are immaterial.

Supplemental cash flow information related to leases for the six months ended June 30, 2024 and June 30, 2023 are as follows (in thousands):


	Six Months Ended June 30,
	2024		2023
Cash paid for amounts included in the measurement of operating lease liabilities:
Operating cash flows for operating leases	$	1,629	$	2,263
Operating cash flows for finance leases	262		67
Financing cash flows for finance leases	367		103
Right-of-use assets obtained in exchange for new lease obligations:
Operating leases	$	273	$	—
Financing leases	751		4,688
Net change in operating lease right-of-use assets due to lease modifications resulting in reclassification of leases from operating to finance	$	—	$	(1,514)

As of June 30, 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	$	1,620	$	632
2025	3,202		1,195
2026	2,870		1,067
2027	2,690		914
2028	1,996		1,632
Thereafter	9,042		4,064
Total lease payments	21,420		9,504
Less: imputed interest	(5,126)		(2,674)
Present value of lease liabilities	$	16,294	$	6,830