Company: ARRY
Filing Date: 2025-08-07
Form Type: 10-Q
Source: 0001820721-25-000085
Chunk: 111

Company: Array Technologies, Inc.
Filing Date: 2025-08-07
Form: 10-Q
Item: Part I, Item 8
Chunk 111
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, 2024, inventory valued using moving average cost and FIFO, was $154.4 million and $46.4 million, respectively.

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Prepaid expenses and other current assetsThe following table shows the components of Prepaid expenses and other current assets (in thousands):June 30, 2025December 31, 2024IRA vendor rebates$69,906 $115,458 Prepaid taxes25,305 14,650 Other19,332 27,819 Total Prepaid expenses and other current assets$114,543 $157,927 

4.    Property, Plant and Equipment, Net 

Property, plant and equipment, net consisted of the following (in thousands, except useful lives): Estimated Useful Lives (Years)June 30, 2025December 31, 2024LandN/A$1,650 $1,585 Buildings and land improvements15-3910,871 9,108 Manufacturing equipment729,002 27,853 Furniture, fixtures and equipment5-75,370 4,287 Vehicles5627 603 Hardware3-53,946 3,603 Construction in progressN/A9,789 3,948 Total61,255 50,987 Less: accumulated depreciation(26,174)(24,765)Property, plant and equipment, net$35,081 $26,222 Depreciation expense was $1.1 million and $1.1 million for the three months ended June 30, 2025 and 2024, respectively, of which $0.6 million and $0.4 million, respectively, was included in Cost of product and service revenue and $0.5 million and $0.7 million, respectively, was included in Depreciation and amortization on the accompanying condensed consolidated statements of operations.Depreciation expense was $2.2 million and $2.0 million for the six months ended June 30, 2025 and 2024, respectively, of which $1.2 million and $0.9 million, respectively, was included in Cost of product and service revenue and $1.0 million and $1.1 million, respectively, was included in Depreciation and amortization on the accompanying condensed consolidated statements of operations.

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5.    Goodwill and Other Intangible Assets, Net 

Goodwill Changes in the