Company: IPGP
Filing Date: 2025-05-06
Form Type: 10-Q
Source: 0001111928-25-000069
Chunk: 63

Company: IPG PHOTONICS CORP
Filing Date: 2025-05-06
Form: 10-Q
Item: Part I, Item 8
Chunk 63
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ving Line of Credit Facilities:The Company maintains a $75,000 U.S. revolving line of credit, which is available to certain foreign subsidiaries and allows for borrowings in the local currencies of those subsidiaries. At March 31, 2025 and December 31, 2024, there were no amounts drawn on the U.S. line-of-credit, and there were $2,144 and $2,103, respectively, of guarantees issued against the facility, which reduce the amount of the facility available to draw. After providing for the guarantees used, the remaining availability under this line was $72,856 at March 31, 2025. In addition, the Company maintains Euro lines of credit facilities with a total principal amount of €6,500 ($7,033 and $6,751 as of March 31, 2025 and December 31, 2024, respectively), which are available to certain European subsidiaries. At March 31, 2025 and December 31, 2024, there were no amounts drawn on the 

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Table of ContentsIPG PHOTONICS CORPORATIONNOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS - (Continued)(In thousands, except share and per share data)

Euro lines of credit, and there were $1,505 and $1,533, respectively, of guarantees issued against the facility, which reduce the amount of the facility available to draw.

11. COMMITMENTS AND CONTINGENCIES

From time to time, the Company may be involved in legal disputes and other proceedings in the ordinary course of its business. These matters may include allegations of infringement of intellectual property, commercial disputes and employment matters. As of March 31, 2025 and through the filing date of these Condensed Consolidated Financial Statements, the Company is aware of no ongoing legal proceedings that management estimates could have a material effect on the Company's Condensed Consolidated Financial Statements.Effective January 1, 2025, the Company is self-insured for employee medical benefits in the United States. The employee medical obligations are managed by a third-party provider and the related liabilities are included in the consolidated financial statements. To limit the Company’s potential liabilities for these risks, the Company purchases insurance from a third party that provides stop-loss protection for medical costs in the United States that exceed $225 per person per annum.The Company provides product warranties on its lasers, laser and non-laser systems, and amplifiers. Refer to Note 9, "Product