Company: BHE
Filing Date: 2025-02-27
Form Type: 10-K/A
Source: 0000950170-25-029247
Chunk: 29

Company: BENCHMARK ELECTRONICS INC
Filing Date: 2025-02-27
Form: 10-K/A
Chunk 29
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| Balance as of the beginning of the year |                | $            |    174,979 |   |     | $ |    183,613 |   |
| Revenue recognized                      |                |              |  2,304,221 |   |     |   |  2,495,298 |   |
| Amounts collected or invoiced           |                |              | (2,311,622 | ) |     |   | (2,503,932 | ) |
| Balance as of the end of the period     |                | $            |    167,578 |   |     | $ |    174,979 |   |

As of December 31, 2024 and 2023, the Company had $143.6million and $204.9million, respectively, in advance payments from customers. Of those amounts $132.5million and $191.6million, respectively, were related to both customer deposits and prepayments of inventory and $11.1million and $13.3million, respectively, were related to the contractual timing of payments. The advance paymentsare not considered a significant financing component because they are used to meet working capital demands of a contract, offset inventory risks and protect the Company from the failure of other parties to fulfill obligations under a contract.

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Note 10—Segment, Geographic Information and Major Customer

The Company’sChief Executive Officeris our Chief Operating Decision Maker (CODM) who evaluates how resources are allocated, assesses performance and makes strategic and operational decisions.The Company currently has manufacturing facilities in the Americas, Asia and Europe to serve its customers. The Company is operated and managed geographically, and management evaluates performance and allocates the Company’s resources on a geographic basis. We provide manufacturing services, design and engineering services, and technology solutions in the Americas, Asia and Europe.Intersegment sales are generally recorded at prices that approximate arm’s length transactions.Operating segments’ measure of profitability is based on income from operations.Corporate and intersegment eliminations include (1) corporate expenses not allocated to the Company’sthreereporting segments, which are primarily general and administrative expenses such as corporate employee payroll and benefit costs and corporate facility costs, and (2) income from operations on intersegment sales between reporting segments. Corporate functions include legal, finance, tax, treasury, information technology, risk management