Company: IPGP
Filing Date: 2025-05-06
Form Type: 10-Q
Source: 0001111928-25-000069
Chunk: 60

Company: IPG PHOTONICS CORP
Filing Date: 2025-05-06
Form: 10-Q
Item: Part I, Item 8
Chunk 60
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306 — 60,306 — U.S. Treasury and agency obligations27,348 — 27,348 — Term deposits3,048 — 3,048 — Total short-term investments310,057 — 310,057 — Total$660,127 $77,855 $582,272 $— There were no impairments for the investments considered held-to-maturity during the quarters ended March 31, 2025 and 2024. There were no current expected credit loss allowances for the investments considered held-to-maturity at March 31, 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 March 31, 2025 and December 31, 2024, the allowance for credit losses on trade receivables was $2,941 and $2,462, respectively.The following table presents the effective maturity dates of debt investments, which are held-to-maturity:March 31, 2025December 31, 2024Book ValueFair ValueBook ValueFair ValueInvestment maturityLess than 1 year$563,832 $563,665 $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:March 31,December 31, 20252024Components and raw materials$150,651 $150,257 Work-in-process33,247 28,973 Finished goods103,725 105,550 Total$287,623 $284,780 The Company recorded inventory provisions totaling $9,470 and $12,842 for the three months ended March 31, 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").