Company: IPGP
Filing Date: 2025-11-04
Form Type: 10-Q
Source: 0001111928-25-000168
Chunk: 77

Company: IPG PHOTONICS CORP
Filing Date: 2025-11-04
Form: 10-Q
Item: Part I, Item 8
Chunk 77
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Balance, September 30, 2024$(68,731)$(68,731)

13

Table of ContentsIPG PHOTONICS CORPORATIONNOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS - (Continued)(In thousands, except share and per share data)

Foreign currency translation adjustments and otherTotalBalance, January 1, 2025$(119,367)$(119,367)Other comprehensive income, net of tax:Foreign currency translation adjustments and other, net of tax expense of $21880,641 80,641 Total other comprehensive income80,641 80,641 Balance, September 30, 2025$(38,726)$(38,726)Balance, January 1, 2024$(212,530)$(212,530)Other comprehensive income, net of tax:Foreign currency translation adjustments and other before reclassification, net of tax expense of $1127,129 7,129 Reclassification of foreign currency translation adjustments related to the divestiture of Russian operations to net loss, net of tax expense of $1,324136,670 136,670 Total other comprehensive income143,799 143,799 Balance, September 30, 2024$(68,731)$(68,731)

13. INCOME TAXES

The Provision for income taxes were $8,191 and $16,714 for the three and nine months ended September 30, 2025, respectively. The Provision for income taxes was a benefit of $8,920 and a tax expense of $5,441, for the three and nine months ended September 30, 2024, respectively. The effective tax rates were 52.3% and 48.4% for the three and nine months ended September 30, 2025, respectively. The effective tax rate was 3.7% for the three months ended September 30, 2024. For the nine months ended September 30, 2024, there was a tax expense provided on the Loss before provision for income taxes.For the three months ended September 30, 2025, the Company recorded discrete tax items of $3,803 primarily due to uncertain tax positions resulting from tax audit activity. For the nine months ended September 30, 2025, the Company recorded discrete tax items of $8,692, primarily due to equity-based compensation expense reflected in the Company's Condensed Consolidated Financial Statements of Operations