Company: IPGP
Filing Date: 2025-08-05
Form Type: 10-Q
Source: 0001111928-25-000132
Chunk: 30

Company: IPG PHOTONICS CORP
Filing Date: 2025-08-05
Form: 10-Q
Item: Part I, Item 1
Chunk 30
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 held-to-maturity at June 30, 2025 and 2024. The Company holds highly-rated held-to-maturity instruments that are within one year of maturity.The Company did not have any allowance for credit losses other than the allowance for uncollectible accounts receivable. As of June 30, 2025 and December 31, 2024, the allowance for credit losses on trade receivables was $2,957 and $2,462, respectively.The following table presents the effective maturity dates of debt investments, which are held-to-maturity:June 30, 2025December 31, 2024Book ValueFair ValueBook ValueFair ValueInvestment maturityLess than 1 year$540,414 $540,229 $310,152 $310,057 

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

5. INVENTORIES

Inventories consist of the following:June 30,December 31, 20252024Components and raw materials$153,341 $150,257 Work-in-process38,510 28,973 Finished goods111,990 105,550 Total$303,841 $284,780 The Company recorded inventory provisions totaling $7,839 and $14,009 for the three months ended June 30, 2025 and 2024, respectively, and $17,309 and $26,851 for the six months ended June 30, 2025 and 2024 respectively. These provisions relate to the recoverability of the value of inventories due to technological changes and excess quantities, and are reported as a reduction to components and raw materials, work-in-process and finished goods.

6. BUSINESS COMBINATION

During the fourth quarter of 2024, the Company acquired 100% of the shares of Clean‐Lasersysteme GmbH ("cleanLASER") a leader in laser cleaning systems for $66,738, net of cash acquired, subject to a net working capital adjustment to be finalized in the second half of 2025. As of June 30, 2025, the purchase price allocations included in the Company's Condensed Consolidated Financial Statements are not complete, pending finalization of the working capital adjustment to the purchase price.

7. GOODWILL AND INTANGIBLES

The following