Company: BHE
Filing Date: 2025-02-27
Form Type: 10-K/A
Source: 0000950170-25-029247
Chunk: 6

Company: BENCHMARK ELECTRONICS INC
Filing Date: 2025-02-27
Form: 10-K/A
Chunk 6
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AP) 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 Cash The 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 Accounts

Accounts 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)                      
 Year ended December 31, 2024:       |     | Balance as of 
 the Beginning 
 of the Year   |     |     | Charges to 
 Operations |       |     | Deductions |        |   |     | Balance as of 
 the End       
 of the Year   |     |
|:------------------------------------|:----|:--------------|----:|:----|:-----------|------:|:----|:-----------|:-------|:--|:----|:--------------|----:|
| 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