Company: IPGP
Filing Date: 2025-05-06
Form Type: 10-Q
Source: 0001111928-25-000069
Chunk: 101

Company: IPG PHOTONICS CORP
Filing Date: 2025-05-06
Form: 10-Q
Item: Part I, Item 2
Chunk 101
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 investments, minus current liabilities)319,475 295,784 

Included in cash and cash equivalents is $2.2 million of cash located in Belarus, as of March 31, 2025. 

Short-term investments at March 31, 2025 consist of liquid investments including commercial paper, corporate bonds, U.S. Treasury and agency obligations and term deposits with original maturities of greater than three months but less than one year. See Note 4, "Fair Value Measurements" in the notes to the Condensed Consolidated Financial Statements for further information about our short-term investments. 

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The following table details our line-of-credit facilities as of March 31, 2025: 

DescriptionTotal FacilityInterest RateMaturitySecurityU.S. Revolving Line of Credit (1)$75.0 millionSOFR plus 0.9% to 1.6%, depending on our performanceJune 2025UnsecuredEuro Credit Facility (Germany) (2)Euro 5.0 million ($5.4 million)€STR rate plus 0.97%December 2028Unsecured, guaranteed by parent companyEuro Facility (3)Euro 1.5 million($1.6 million)Euribor plus 1.25%July 2025Common pool of assets of Italian subsidiary

(1)  This facility is available to certain foreign subsidiaries in their respective local currencies. At March 31, 2025, there were no amounts drawn on this line; however, there were $2.1 million of guarantees issued against the line which reduces total availability. 

(2)  This facility is available to certain foreign subsidiaries in their respective local currencies. At March 31, 2025, there were no amounts drawn on this line; however, there were $1.5 million of guarantees issued against the line which reduces total availability. 

(3)  At March 31, 2025, there were no drawings. 

At March 31, 2025, our committed credit line is with Bank of America N.A. in the amount of $75.0 million, which is not syndicated. On April 4, 2025, we amended the U.S. revolving line of credit with Bank of America N.A., extending its maturity through June 2025. We are in the process of negotiating a new credit facility. We are required to meet certain financial covenants associated with this credit line. These covenants