Company: IPGP
Filing Date: 2025-02-20
Form Type: 10-K
Source: 0001111928-25-000023
Chunk: 37

Company: IPG PHOTONICS CORP
Filing Date: 2025-02-20
Form: 10-K
Item: Item 16
Chunk 37
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11,145)4,520 8 years12,130 (9,606)2,524 8 yearsPatents8,034 (8,034)— 8 years8,035 (7,987)48 8 yearsTotal$127,193 $(71,817)$55,376 $95,309 $(69,075)$26,234 Amortization expense for the years ended December 31, 2024, 2023 and 2022 was $5,933, $7,895 and $10,454, respectively.The estimated future amortization expense for intangibles as of December 31, 2024 is as follows:20252026202720282029ThereafterTotal$9,431 $7,643 $7,430 $7,059 $6,821 $16,992 $55,376 

9. PROPERTY, PLANT AND EQUIPMENT

Property, plant and equipment consist of the following:  December 31, 20242023Land$40,799 $52,506 Buildings419,641 446,031 Machinery and equipment468,140 457,968 Office furniture and fixtures81,538 81,313 Construction-in-progress152,680 118,341 Total property, plant and equipment1,162,798 1,156,159 Accumulated depreciation(574,423)(553,902)Total property, plant and equipment — net$588,375 $602,257 The Company recorded depreciation expense of $52,399, $58,245 and $76,063 for the years ended December 31, 2024, 2023 and 2022, respectively.

F-20

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

Long-lived assets include property, plant and equipment, related deposits on such assets and demonstration equipment. The geographic locations of the Company's long-lived assets, net, based on physical location of the assets, as of December 31, 2024 and 2023 are as follows: December 31, 20242023United States$375,757 $384,088 Germany167,867 132,218 Canada13,520 6,615 Japan11,919 9,024 Italy9,539