Company: ARRY
Filing Date: 2025-08-07
Form Type: 10-Q
Source: 0001820721-25-000085
Chunk: 51

Company: Array Technologies, Inc.
Filing Date: 2025-08-07
Form: 10-Q
Item: Part I, Item 1
Chunk 51
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 respectively.

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Prepaid expenses and other current assetsThe following table shows the components of Prepaid expenses and other current assets (in thousands):June 30, 2025December 31, 2024IRA vendor rebates$69,906 $115,458 Prepaid taxes25,305 14,650 Other19,332 27,819 Total Prepaid expenses and other current assets$114,543 $157,927 

4.    Property, Plant and Equipment, Net 

Property, plant and equipment, net consisted of the following (in thousands, except useful lives): Estimated Useful Lives (Years)June 30, 2025December 31, 2024LandN/A$1,650 $1,585 Buildings and land improvements15-3910,871 9,108 Manufacturing equipment729,002 27,853 Furniture, fixtures and equipment5-75,370 4,287 Vehicles5627 603 Hardware3-53,946 3,603 Construction in progressN/A9,789 3,948 Total61,255 50,987 Less: accumulated depreciation(26,174)(24,765)Property, plant and equipment, net$35,081 $26,222 Depreciation expense was $1.1 million and $1.1 million for the three months ended June 30, 2025 and 2024, respectively, of which $0.6 million and $0.4 million, respectively, was included in Cost of product and service revenue and $0.5 million and $0.7 million, respectively, was included in Depreciation and amortization on the accompanying condensed consolidated statements of operations.Depreciation expense was $2.2 million and $2.0 million for the six months ended June 30, 2025 and 2024, respectively, of which $1.2 million and $0.9 million, respectively, was included in Cost of product and service revenue and $1.0 million and $1.1 million, respectively, was included in Depreciation and amortization on the accompanying condensed consolidated statements of operations.

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5.    Goodwill and Other Intangible Assets, Net 

Goodwill Changes in the carrying amount of goodwill by operating segment during the six months ended June 30, 2025, consisted of the following (in thousands):Array