Company: PLPC
Filing Date: 2025-10-30
Form Type: 10-Q
Source: 0000080035-25-000022
Chunk: 11

Company: PREFORMED LINE PRODUCTS CO
Filing Date: 2025-10-30
Form: 10-Q
Item: Part I, Item 1
Chunk 11
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 for credit losses, beginning of period$6,958 $8,260 Additions (reductions) charged to costs and expenses893 (1,165)Write-offs(250)(209)Foreign exchange and other57 (203)Allowance for credit losses, end of period$7,658 $6,683 

NOTE 3 - INVENTORIES, NETInventories, netInventory is carried at lower of cost or net realizable value. The components of inventory are as follows:September 30, 2025December 31, 2024Raw materials$87,824 $75,138 Work-in-process17,860 12,225 Finished products56,850 52,792 Inventories, net of excess and obsolete inventory reserve162,534 140,155 Excess of current cost over LIFO cost(16,445)(10,242)Inventories at LIFO cost$146,089 $129,913 

Costs for inventories of certain material, mainly in the U.S., are determined using the Last-In First-Out ("LIFO") method and totaled approximately $39.6 million at September 30, 2025 and $46.5 million at December 31, 2024. An actual valuation of inventories under the LIFO method can be made only at the end of the year based on the inventory levels and costs at that time. Accordingly, interim LIFO calculations are based on management’s estimates of expected year-end inventory levels and costs. Because these estimates are subject to change and may be different than the actual inventory levels and costs at the end of the year, interim results are subject to the final year-end LIFO inventory valuation. During the three-month periods ended September 30, 2025 and 2024, the net change in LIFO inventories resulted in expense of $3.8 million and $0.2 million, respectively, to Cost of products sold. During the nine-month periods ended September 30, 2025 and 2024, the net change in LIFO inventories resulted in expense of $6.2 million and of $0.6 million, respectively, to Cost of products sold. The Company’s reserves for slow moving and obsolete inventory were $17.9 million at September 30, 2025 and $17.7 million at December 31, 2024. 

NOTE 4 - PROPERTY AND EQUIPMENT, NETMajor