Company: PLPC
Filing Date: 2025-10-30
Form Type: 10-Q
Source: 0000080035-25-000022
Chunk: 17

Company: PREFORMED LINE PRODUCTS CO
Filing Date: 2025-10-30
Form: 10-Q
Item: Part I, Item 1
Chunk 17
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 discrete tax benefit recorded related to the release of amounts in OCI attributed to the pension termination. For the nine-month period ended September 30, 2025 and 2024, the Company’s effective tax rate was 19% and 20%, respectively. The lower effective tax rates for the nine months ended September 30, 2025 compared to the nine months ended September 30, 2024 was due to a discrete tax benefit recorded in the third quarter related to the release of amounts in OCI attributed to the pension termination, partially offset by increased foreign withholding taxes in the same period in 2024.

The Company provides valuation allowances against deferred tax assets when it is more likely than not that some portion or all of its deferred tax assets will not be realized. During the period ended September 30, 2025, the Company did not record any additional valuation allowances in various jurisdictions on its deferred tax assets.

15

For the nine-month periods ending September 30, 2025 and 2024, the Company did not record any new uncertain tax positions.

NOTE 10 - COMPUTATION OF EARNINGS PER SHAREBasic earnings per share were computed by dividing net income by the weighted-average number of common shares outstanding for each respective period. Diluted earnings per share were calculated by dividing net income by the weighted-average of all potentially dilutive common shares that were outstanding during the periods presented.The calculation of basic and diluted earnings per share for the three and nine months ended September 30, was as follows:Three Months Ended September 30,Nine Months Ended September 30,2025202420252024NumeratorNet income$2,626 $7,680 $26,848 $26,642 DenominatorDetermination of shares (in thousands)Weighted-average common shares outstanding4,9154,9044,9254,911Dilutive effect – share-based awards26732648Diluted weighted-average common shares outstanding4,9414,9774,9514,959Earnings per common shareBasic$0.53 $1.57 $5.45 $5.42 Diluted$0.53 $1.54 $5.42 $5.37 

For the three and nine months ended September 30, 2025 and 2024, there were 7,500 and zero share-based awards, respectively, excluded from the calculation of diluted earnings per share as the effect would have been anti-dilutive.

NOTE