Company: IPGP
Filing Date: 2025-08-05
Form Type: 10-Q
Source: 0001111928-25-000132
Chunk: 96

Company: IPG PHOTONICS CORP
Filing Date: 2025-08-05
Form: 10-Q
Item: Part I, Item 8
Chunk 96
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 sources of liquidity:

June 30,December 31, 20252024(In thousands)Cash and cash equivalents$359,184 $620,040 Short-term investments540,414 310,152 Unused credit lines and overdraft facilities222,596 78,115 Working capital (defined as current assets excluding cash, cash equivalents and short-term investments, minus current liabilities)357,606 295,784 

Included in cash and cash equivalents is $1.5 million of cash located in Belarus, as of June 30, 2025. 

Short-term investments at June 30, 2025 consist of liquid investments including commercial paper, corporate bonds, U.S. Treasury and agency obligations and term deposits with original maturities of greater than three months but less than one year. See Note 4, "Fair Value Measurements" in the notes to the Condensed Consolidated Financial Statements for further information about our short-term investments. 

24

The following table details our Credit Facilities as of June 30, 2025: 

DescriptionTotal FacilityInterest RateMaturitySecurityU.S. Revolving Line of Credit (1)$200.0 millionSOFR plus 1.25% to 1.45%, depending on our performanceJune 2030UnsecuredOther Lines of Credit (2)$20.6 millionVariousVariousUnsecuredEuro Credit Facility (Germany) (3)Euro 5.0 million ($5.9 million)€STR rate plus 0.97%December 2028Unsecured, guaranteed by parent companyEuro Facility (4)Euro 1.5 million($1.8 million)3.35%March 2026Common pool of assets of Italian subsidiary

(1)  At June 30, 2025, there were no amounts drawn on this line; however, there were $1.3 million of guarantees issued against the line which reduces total availability. 

(2) Other lines of credit available to certain foreign subsidiaries in U.S. dollars and their respective local currencies. At June 30, 2025, there were immaterial amounts drawn on these lines; and there were $1.9 million of guarantees issued against the lines which reduces total availability.

(3)  This facility is available to certain foreign subsidiaries in their respective local currencies. At June 30, 2025, there were no amounts drawn on this line; however, there were $1.9 million of guarantees issued against the line which reduces total