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LONG-TERM DEBT | 3 Months Ended
--- | ---
Mar. 31, 2025
LONG-TERM DEBT. |
LONG-TERM DEBT | NOTE 8. LONG-TERM DEBT Long-term debt as of March 31, 2025 and December 31, 2024, was as follows: ​
​ | ​ | ​ | ​ | ​ | ​
​ | March 31, 2025 |  | December 31, 2024
​ | ​ | ​ | ​ | ​ | ​
Revolving credit facility (a) | $ | - | ​ | $ | -
Other debt (b) | ​ | 1,919 | ​ | ​ | 1,888
Term loan (c) | ​ | - | ​ | ​ | -
​ | ​ | 1,919 | ​ | ​ | 1,888
Less current portion | ​ | (1,919) | ​ | ​ | (1,888)
​ | $ | - | ​ | $ | -
​
| (a) | On February 29, 2024, upon the closing of the disposition of the Precision Sport segment, the Company terminated and paid off amounts outstanding under the revolving credit facility, and pursuant to the Credit Agreement with JPMorgan Chase Bank, N.A., as administrative agent and the lenders party thereto (the “Restated Credit Agreement”), in full. The Company paid interest monthly on any borrowings on the Restated Credit Agreement.
| (b) | On December 5, 2024, pursuant to the RockyMounts Purchase Agreement, Clarus and its wholly-owned subsidiary, Rhino-Rack USA LLC, issued a promissory note in favor of RockyMounts, Inc. in the principal amount of $2,000, payable on December 5, 2025. Imputed interest is included within the principal amount and the fair value of the note was $1,878 on the date of issuance. As of March 31, 2025 and December 31, 2024, the borrowing rate was 6.5%.
Foreign subsidiaries of the Company had term debt with financial institutions, which was repaid as of December 31, 2024. The foreign subsidiaries paid interest monthly on any borrowings on the credit facility as well as monthly payments on the term debt. The term debt was secured by certain assets of the foreign subsidiaries.
| (c) | On February 29, 2024, upon the closing of the disposition of the Precision Sport segment, the Company terminated and paid off amounts outstanding under the term loan in full. The Company paid interest monthly on any borrowings on the Restated Credit Agreement.

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- Definition The entire disclosure for long-term debt. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 470 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org/470/tableOfContent + Details
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