Company: PLPC
Filing Date: 2025-03-13
Form Type: 10-K
Source: 0001628280-25-012640
Chunk: 47

Company: PREFORMED LINE PRODUCTS CO
Filing Date: 2025-03-13
Form: 10-K
Item: Item 7
Chunk 47
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139.1 million for the year ended December 31, 2024 decreased $11.6 million, or 8%, when compared to 2023. Excluding the effect of currency translation, costs and expenses decreased $10.9 million, or 7%, as summarized in the following table:

Year Ended December 31,(Thousands of dollars)20242023ChangeChange Due to Currency TranslationChange Excluding Currency Translation% ChangeCosts and expensesPLP-USA$72,593 $79,289 $(6,696)$— $(6,696)(8)%The Americas18,655 22,724 (4,069)(799)(3,270)(14)EMEA26,090 28,193 (2,103)257 (2,360)(8)Asia-Pacific21,716 20,488 1,228 (158)1,386 7 Consolidated$139,054 $150,694 $(11,640)$(700)$(10,940)(7)%

PLP-USA costs and expenses of $72.6 million decreased $6.7 million, or 8% year-over-year. PLP-USA’s decrease was primarily attributable to lower selling costs and lower personnel and professional services costs, primarily as a result of cost containment efforts. International costs and expenses for the year ended December 31, 2024 had a favorable impact by $0.7 million when local currencies were translated to U.S. dollars. The following discussion of costs and expenses excludes the effect of currency translation. The Americas costs and expenses of $18.7 million decreased $3.3 million primarily due to a legal settlement in the third quarter of 2023 and the impact of foreign currency remeasurement. EMEA costs and expenses of $26.1 million decreased by $2.4 million primarily due to lower personnel costs and bad debt expenses. Asia-Pacific costs and expenses of $21.7 million increased $1.4 million primarily due to the net impact of the sale of capital assets year over year and foreign currency remeasurement. 

Other (expense) income, net. Other income, net as of the year ended December 31, 2024 was favorable by $1.8 million when compared to Other expense, net for the year ended December 31, 2024 of $1.8 million. The favorable movement was due to higher interest income earned on cash balances in certain international jurisdictions and