Company: IPGP
Filing Date: 2025-11-04
Form Type: 10-Q
Source: 0001111928-25-000168
Chunk: 30

Company: IPG PHOTONICS CORP
Filing Date: 2025-11-04
Form: 10-Q
Item: Part I, Item 1
Chunk 30
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,893 56,454 Current portion of accrued warranty19,110 21,398 Short-term lease liabilities4,903 4,835 Other13,114 12,793 Total$171,028 $152,048 Other long-term liabilities and deferred income taxes consist of the following:September 30,December 31, 20252024Unrecognized tax benefits$16,387 $13,855 Accrued warranty13,538 12,954 Long-term lease liabilities12,460 13,124 Deferred income taxes11,044 14,206 Other9,341 5,635 Total$62,770 $59,774 

9. PRODUCT WARRANTIES

The Company typically provides one to five years parts and service warranties on lasers, laser and non-laser systems, and amplifiers. Most of the Company's sales offices provide support to customers in their respective geographic areas. Warranty reserves have generally been sufficient to cover product warranty repair and replacement costs. 

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

Activity related to the warranty accrual was as follows:Nine Months Ended September 30,20252024Balance, beginning of period$34,352 $47,209 Provision for warranty accrual7,807 4,603 Warranty claims(11,946)(12,902)Warranty related to business divested— (1,603)Foreign currency translation2,435 118 Balance, end of period$32,648 $37,425 Accrued warranty reported in the accompanying Condensed Consolidated Financial Statements as of September 30, 2025 and December 31, 2024 consist of $19,110 and $21,398 in Accrued expenses and other current liabilities, respectively, and $13,538 and $12,954 in Other long-term liabilities and deferred income taxes, respectively.

10. FINANCING ARRANGEMENTS

Revolving Line of Credit Facilities:On June 24, 2025, the Company entered into a new credit agreement with Bank of America, N.A. which matures on June 24, 2030. The credit agreement provides a $200,000 unsecured, revolving credit facility, of which $25,000 may be used for the issuance