Company: PLPC
Filing Date: 2025-03-13
Form Type: 10-K
Source: 0001628280-25-012640
Chunk: 49

Company: PREFORMED LINE PRODUCTS CO
Filing Date: 2025-03-13
Form: 10-K
Item: Item 7
Chunk 49
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, net income decreased $25.5 million as summarized in the following table.

Year Ended December 31,(Thousands of dollars)20242023ChangeChange Due to Currency TranslationChange Excluding Currency Translation% ChangeNet income (loss)PLP-USA$13,940 $45,392 $(31,452)$— $(31,452)(69)%The Americas8,951 5,755 3,196 (803)3,999 69 EMEA7,762 5,796 1,966 128 1,838 32 Asia-Pacific6,441 6,389 52 (52)104 2 Consolidated$37,094 $63,332 $(26,238)$(727)$(25,511)(40)%

WORKING CAPITAL, LIQUIDITY AND CAPITAL RESOURCES

Management Assessment of Liquidity

We measure liquidity on the basis of our ability to meet short-term and long-term operating needs, fund additional investments, including acquisitions, and make dividend payments to shareholders. Significant factors affecting the management of liquidity are cash flows from operating activities, capital expenditures, cash dividends, business acquisitions and access to bank lines of credit.

Our investments include expenditures required for equipment and facilities as well as expenditures in support of our strategic initiatives. In 2024, we used cash of $14.7 million for capital expenditures. At December 31, 2024, we had $57.2 million of cash, cash equivalents and restricted cash (collectively “Cash”). Our Cash is held in various locations throughout the world. At December 31, 2024, the majority of our cash is held outside the U.S. 

We expect the majority of accumulated non-U.S. cash balances will remain outside of the U.S. and that we will meet U.S. liquidity needs through future cash flows, use of U.S. cash balances, external borrowings, or some combination of these sources. 

We complete comprehensive reviews of our significant customers and their creditworthiness by analyzing financial statements for customers where we have identified a measure of increased risk. We closely monitor payments and developments that may signal possible customer credit issues. We currently have not identified any potential material impact on our liquidity from customer credit issues.

Total debt, including notes payable, at December 31, 2024 was $28.6 million. At December 31, 2024, our unused availability under our credit facility (the "Facility") was $