Company: PLPC
Filing Date: 2025-07-31
Form Type: 10-Q
Source: 0000080035-25-000013
Chunk: 18

Company: PREFORMED LINE PRODUCTS CO
Filing Date: 2025-07-31
Form: 10-Q
Item: Part I, Item 1
Chunk 18
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 data.The following table summarizes the Company’s assets and liabilities, recorded and measured at fair value, in the Consolidated Balance Sheets as of June 30, 2025 and December 31, 2024:DescriptionBalance as ofJune 30, 2025Quoted Prices in Active Markets forIdentical Assets or Liabilities(Level 1)Significant Other Observable Inputs(Level 2)Significant Unobservable Inputs(Level 3)Assets:  Foreign currency forward contracts$— $— $— $— Fixed income investments— — — — Total assets$— $— $— $—    Liabilities:  Foreign currency forward contracts$4 $— $4 $— Supplemental profit sharing plan10,105 — 10,105 — Total liabilities$10,109 $— $10,109 $— 

16

DescriptionBalance as of December 31, 2024Quoted Prices in Active Markets forIdentical Assets or Liabilities(Level 1)Significant Other Observable Inputs(Level 2)Significant Unobservable Inputs(Level 3)Assets:  Foreign currency forward contracts$65 $— $65 $— Fixed income investments1,142 1,142 — — Total assets$1,207 $1,142 $65 $—    Liabilities:  Foreign currency forward contracts$71 $— $71 $— Supplemental profit sharing plan9,031 — 9,031 — Total liabilities$9,102 $— $9,102 $— 

The Company operates internationally and enters into intercompany transactions denominated in foreign currencies. Consequently, the Company is subject to market risk arising from exchange rate movements between the dates foreign currency transactions occur and the dates they are settled. The Company currently uses foreign currency forward contracts to reduce the risk related to some of these transactions. These contracts usually have maturities of 90 days or less and generally require an exchange of foreign currencies for U.S. dollars at maturity at rates stated in the contracts. These contracts are not designated as hedging instruments under U.S. GAAP. Accordingly, the changes in the fair value of the foreign currency forward contracts are recognized in each accounting period in Other operating expense (income), net on the Consolidated Statements of Income together with the transaction gain or loss from the related