Company: BHE
Filing Date: 2025-02-24
Form Type: 10-K
Source: 0000950170-25-025644
Chunk: 80

Company: BENCHMARK ELECTRONICS INC
Filing Date: 2025-02-24
Form: 10-K
Item: Item 1B
Chunk 80
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The consolidated financial statements have been prepared in accordance with accounting principles generally accepted in the United States (U.S. GAAP) and include the financial statements of Benchmark Electronics, Inc. and its wholly owned and majority owned subsidiaries. All significant intercompany balances and transactions have been eliminated in consolidation.(c) Cash, Cash Equivalents and Restricted CashThe Company considers all highly liquid debt instruments with an original maturity at the date of purchase of three months or less to be cash equivalents. Cash equivalents of $144.2 million and $121.2 million at December 31, 2024 and 2023, respectively, consisted primarily of money-market funds and time deposits with an initial term of less than three months. Restricted cash represents cash received from customers to settle invoices sold under trade accounts receivable sale program purchase agreements that is contractually required to be set aside until the cash is remitted to the purchaser.(d) Allowance for Doubtful AccountsAccounts receivable are recorded net of allowances for amounts not expected to be collected. In estimating the allowance, management considers a specific customer’s financial condition, payment history, current conditions, and various information or disclosures by the customer or other publicly available information. Accounts receivable are charged against the allowance after all reasonable efforts to collect the full amount (including litigation, where appropriate) have been exhausted. The following table summarizes the activity of the Company’s allowance for doubtful accounts: 

          (in thousands)
           
          Balance as ofthe Beginningof the Year

          Charges toOperations

          Deductions

          Balance as ofthe Endof the Year

          Year ended December 31, 2024:

          Allowance for doubtful accounts (1)
           
          $
          470

          $
          671

          $
          (900
          )
           
          $
          241

          Year ended December 31, 2023:

          Allowance for doubtful accounts (1)

          514

          1,321

          (1,365
          )

          470

          Year ended December 31, 2022:

          Allowance for doubtful accounts (1)

          788

          489

          (763
          )

          514

         (1)Deductions in the allowance for doubtful accounts represent write-offs, net of recoveries, of amounts determined to be uncollectible.

48

(e) InventoriesInventories are stated at the lower of cost (first-in, first-out method) and net real