Company: IPGP
Filing Date: 2025-08-05
Form Type: 10-Q
Source: 0001111928-25-000132
Chunk: 35

Company: IPG PHOTONICS CORP
Filing Date: 2025-08-05
Form: 10-Q
Item: Part I, Item 1
Chunk 35
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,240)Balance, April 1, 2024$(230,258)$(230,258)Other comprehensive income, net of tax:Foreign currency translation adjustments and other, net of tax benefit of $923,406 3,406 Total other comprehensive income3,406 3,406 Balance, June 30, 2024$(226,852)$(226,852)Foreign currency translation adjustments and otherTotalBalance, January 1, 2025$(119,367)$(119,367)Other comprehensive income, net of tax:Foreign currency translation adjustments and other, net of tax expense of $31282,127 82,127 Total other comprehensive income82,127 82,127 Balance, June 30, 2025$(37,240)$(37,240)Balance, January 1, 2024$(212,530)$(212,530)Other comprehensive loss, net of tax:Foreign currency translation adjustments and other, net of tax benefit of $125(14,322)(14,322)Total other comprehensive loss(14,322)(14,322)Balance, June 30, 2024$(226,852)$(226,852)

13. INCOME TAXES

The provision for income taxes was an expense of $1,666 and $4,858, for the three months ended June 30, 2025, and 2024, respectively and $8,523 and $14,361 for the six months ended June 30, 2025, and 2024, respectively. The effective tax rate was 20.1% and 19.4% for the three months ended June 30, 2025 and 2024, respectively, and 45.1% and 24.5% for the six months ended June 30, 2025, and 2024, respectively.The decrease in tax expense was primarily due to lower Income before provision for income taxes for the three and six months ended June 30, 2025, as compared to the three and six months ended June 30, 2024, respectively. The six month decrease as compared to the prior year was partially offset by an increase in discrete tax items for the six months ended June 30, 2025, as compared to the six months ended June 30, 2024. The discrete tax detriment was $275 for the three months ended June 30, 2025 and is related