HAVERTY FURNITURE COMPANIES INCHVT

HAVERTY FURNITURE COMPANIES INC Debt Disclosure

10-KFiled Feb 26, 20261 min read
Credit Arrangement:
We have an $80.0 million revolving credit facility (the "Credit Agreement") secured by our inventory, accounts receivable, cash, and certain other personal property and maturing on October 24, 2027, and replace the LIBOR rate with the SOFR rate as the interest rate benchmark. Availability fluctuates based on a borrowing base calculation reduced by outstanding letters of credit. Amounts available to borrow are based on the lesser of the borrowing base or the $80.0 million line amount. The credit facility contains covenants that, among other things, limit our ability to incur certain types of debt or liens, enter into mergers and consolidations or use proceeds of borrowing for other than permitted uses. The covenants also limit our ability to pay dividends if unused availability is less than $12.5 million.
The borrowing base was $137.1 million at December 31, 2025 and there were no outstanding letters of credit, accordingly, the net availability was $80.0 million.

Historical Timeline

Fiscal YearFiled
2025Feb 26, 2026Showing above
2018Mar 4, 2019
2017Mar 2, 2018
2016Mar 3, 2017

About Debt Disclosures

Debt disclosures detail a company's borrowing structure — the types of instruments, interest rates, maturity schedule, and covenant restrictions that define its financial obligations and flexibility. This section is essential for assessing refinancing risk, interest rate exposure, and the margin of safety against financial distress.

Key signals: the maturity schedule reveals concentration risk — large maturities within 1-2 years during tight credit markets can force dilutive refinancing or asset sales. Compare the fair value of debt against carrying amount to gauge whether the market views the company's credit risk differently than the balance sheet suggests. Watch covenant compliance disclosures for tightening cushions, especially leverage and interest coverage ratios. Variable-rate debt exposure quantifies sensitivity to interest rate changes. Secured versus unsecured mix affects recovery rates and future borrowing capacity. Compare net debt-to-EBITDA against industry peers and covenant limits to assess financial health.

Other Available Disclosures

Income TaxesRevenueEarnings Per SharePP&ELeasesSegmentsStock CompensationNew Standards