Company: ARRY
Filing Date: 2025-11-05
Form Type: 10-Q
Source: 0001820721-25-000095
Chunk: 118

Company: Array Technologies, Inc.
Filing Date: 2025-11-05
Form: 10-Q
Item: Part I, Item 8
Chunk 118
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,230 Total inventories, net$180,885 $200,818 The Company values inventory using costing methods that approximate a first-in, first-out (“FIFO”) basis.Prepaid expenses and other current assetsThe following table shows the components of Prepaid expenses and other current assets (in thousands):September 30, 2025December 31, 2024IRA vendor rebates$42,742 $115,458 Prepaid taxes24,088 14,650 Other17,139 27,819 Total prepaid expenses and other current assets$83,969 $157,927 Other assetsThe following table shows the components of Other assets (in thousands):September 30, 2025December 31, 2024IRA vendor rebates$110,593 $— Other72,344 41,701 Total other assets$182,937 $41,701 Contingent considerationThe following table shows the components of contingent consideration (in thousands):September 30, 2025December 31, 2024Current portion of contingent considerationTRA$3,093 $1,193 Earnout Consideration14,573 — Total current portion of contingent consideration$17,666 $1,193 Contingent consideration, net of current portionTRA$5,375 $7,868 Earnout Consideration5,837 — Total contingent consideration, net of current portion$11,212 $7,868 

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5.    Property, Plant and Equipment, Net 

Property, plant and equipment, net consisted of the following (in thousands, except useful lives): Estimated Useful Lives (Years)September 30, 2025December 31, 2024LandN/A$1,676 $1,585 Buildings and land improvements15-3912,443 9,108 Manufacturing equipment742,748 27,853 Furniture, fixtures and equipment5-76,014 4,287 Vehicles51,324 603 Hardware3-54,669 3,603 Construction in progressN/A14,260 3,948 Total83,134 50,987 Less: accumulated depreciation(28,470)(24,765)Property, plant and equipment, net$54,664 $26,222 Depreciation expense was $1.6 million and $1.3 million for the