Company: BHE
Filing Date: 2025-02-24
Form Type: 10-K
Source: 0000950170-25-025644
Chunk: 147

Company: BENCHMARK ELECTRONICS INC
Filing Date: 2025-02-24
Form: 10-K
Item: Item 8
Chunk 147
---
    Cash, cash equivalents and restricted cash at the end of the year
     
    $
    328,027

    $
    283,213

    $
    207,430

    Supplemental cash flow information:

    Income taxes paid, net
     
    $
    46,727

    $
    37,659

    $
    28,478

    Interest paid

    28,032

    30,551

    11,627

    Non-cash investing activities:

    Unpaid purchases of property, plant and equipment at the end of the period

    5,025

    1,558

    23,734

    Unpaid purchases of capitalized purchased software costs at the end of the period

    1,320

    —

    —

See accompanying notes to the consolidated financial statements.

47

BENCHMARK ELECTRONICS, INC.

Notes to the Consolidated Financial Statements

(Amounts in thousands, except per share data, unless otherwise noted)

Note 1—Summary of Significant Accounting Policies(a) Business Benchmark Electronics, Inc. (Benchmark or the Company) is a Texas corporation that provides advanced manufacturing services, which include design and engineering services and technology solutions. From initial product concept to volume production, including direct order fulfillment and aftermarket services, the Company has been providing integrated services and solutions to original equipment manufacturers (OEMs) since 1979. The Company serves the following market sectors: industrial, aerospace and defense (A&D), medical, semiconductor capital equipment (semi-cap), and advanced computing and communications (AC&C). The Company has manufacturing operations located in the United States and Mexico (the Americas), Asia and Europe.(b) Principles of ConsolidationThe consolidated financial statements have been prepared in accordance with accounting principles generally accepted in the United States (U.S. GAAP) and include the financial statements of Benchmark Electronics, Inc. and its wholly owned and majority owned subsidiaries. All significant intercompany balances and transactions have been eliminated in consolidation.(c) Cash, Cash Equivalents and Restricted CashThe Company considers all highly liquid debt instruments with an original maturity at the date of purchase of three months or less to be cash equivalents. Cash equivalents of $144.2 million and $121.2 million at December 31, 2024 and 2023, respectively, consisted primarily of money-market funds and time deposits with an initial term of less than three months. Restricted cash represents cash received from customers to settle invoices sold