Company: BHE
Filing Date: 2025-02-24
Form Type: 10-K
Source: 0000950170-25-025644
Chunk: 156

Company: BENCHMARK ELECTRONICS INC
Filing Date: 2025-02-24
Form: 10-K
Item: Item 8
Chunk 156
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 beginning after December 15, 2023 and interim periods within fiscal years beginning after December 15, 2024. The adoption of ASU 2023-07 did not have a material impact to the Company’s financial statements or financial position.The Company has determined that other recently issued accounting standards will either not have a material impact on its consolidated financial position, results of operations or cash flows, or will not apply to its operations.Not Yet Adopted In November 2024, the FASB issued ASU 2024-03, “Income Statement – Reporting Comprehensive Income – Expense Disaggregation Disclosures (Subtopic 220-40): Disaggregation of Income Statement Expenses” (ASU 2024-03), which requires public entities to disclose specified information about certain costs and expenses. ASU 2024-03 is effective for annual periods beginning after December 15, 2026. Early adoption is permitted. The Company is currently evaluating the guidance and its impact to the financial statements.In December 2023, the FASB issued ASU 2023-09, Improvements to Income Tax Disclosures (Topic 740) (ASU 2023-09), which improves the transparency of income tax disclosures by requiring consistent categories and greater disaggregation of information in the rate reconciliation and income taxes paid disaggregated by jurisdiction. The ASU is effective for annual periods beginning after December 15, 2024. Early adoption is permitted. The Company is currently evaluating the guidance and its impact to the financial statements.

Note 2—InventoriesInventory costs are summarized as follows: 

        December 31,

        December 31,

        (in thousands)
         
        2024

        2023

        Raw materials
         
        $
        528,424

        $
        659,210

        Work in process

        18,761

        22,088

        Finished goods

        6,469

        2,503

        Total inventories
         
        $
        553,654

        $
        683,801

Note 3—Property, Plant and EquipmentProperty, plant and equipment consists of the following: 

        December 31,

        (in thousands)
         
        2024

        2023

        Land
         
        $
        5,867

        $
        5,867

        Buildings and building improvements

        92,371