Company: MYND
Filing Date: 2025-03-26
Form Type: 20-F
Source: 0001628280-25-014832
Chunk: 108

Company: Mynd.ai, Inc.
Filing Date: 2025-03-26
Form: 20-F
Item: Item 18
Chunk 108
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 balances are charged against the allowance for credit losses when the Company determines it is probable the receivable will not be recovered. All allowance for credit losses are charged to general and administrative expenses on the Company’s consolidated statements of operations.

Table of contents

Mynd. ai. Inc.

NOTES TO CONSOLIDATED FINANCIAL STATEMENTS

(In thousands of U. S. dollars, except share and per share data, or otherwise noted)

The allowance for credit losses as of December 31, 2024, and 2023 was as follows:

                                                             December 31,                                                         
                                                             2024                         2023                   2022             
 ──────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────
  Balance at beginning of period                             $                 2,599      $           2,970      $         2,970  
  Adjustments and provision for estimated credit losses      —                            ( 371)                 —                
  Write-offs and collections of accounts receivable          ( 2,379)                     —                      —                
  Foreign currency adjustments                               ( 9)                         —                      —                
  Balance at end of period                                   $                   211      $           2,599      $         2,970  

Inventories

Inventories are valued at the lower of cost or net realizable value (NRV). The Company measures the cost of inventories based on the first-in, first-out method. Inventory costs include expenditures incurred in acquiring the inventories, production or conversion costs, as well as other costs incurred in bringing them to their existing location and condition. Inventory is comprised of raw materials and finished products intended for sale. The Company periodically makes judgments and estimates regarding the future utility and carrying value of inventory. The carrying value of inventory is periodically reviewed and impairments, if any, are recognized when the expected net realizable value is less than carrying value.

Property, Plant and Equipment, Net

Property, plant and equipment are stated at cost less accumulated depreciation. Maintenance and repairs are charged to expense when incurred. Additions and improvements that extend the economic useful life of the asset are capitalized and depreciated over the remaining useful lives of the assets. The cost and accumulated depreciation of assets sold or retired are removed from the respective accounts, and any resulting gain or loss is reflected in current earnings. Depreciation is recognized using the straight-line method in amounts considered to be sufficient to allocate the cost of the assets to operations over the estimated useful lives or lease terms