Company: PLPC
Filing Date: 2025-10-30
Form Type: 10-Q
Source: 0000080035-25-000022
Chunk: 59

Company: PREFORMED LINE PRODUCTS CO
Filing Date: 2025-10-30
Form: 10-Q
Item: Part I, Item 2
Chunk 59
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 non-cash items of  $22.9 million, including the pension termination, offset by changes in operating assets and liabilities. 

29

Net cash used in investing activities for the nine months ended September 30, 2025 was $33.2 million compared to $7.7 million in the comparable prior year nine-month period. The $25.5 million change was primarily a result of the acquisition of JAP Telecom in May 2025 and an increase in capital expenditures, primarily related to the acquisition of new land and a building in Spain and the construction of a new manufacturing plant in Poland.

Net cash used in financing activities for the nine months ended September 30, 2025 was $7.3 million compared to $40.8 million in the comparable prior year nine-month period. The $33.5 million change was primarily the result of a reduction in net payments of long-term debt.

We have commitments under operating leases primarily for office and manufacturing space, transportation equipment, office and computer equipment and finance leases primarily for equipment. At September 30, 2025, we had $1.8 million of current operating lease liabilities and $6.2 million of noncurrent operating lease liabilities. Total liabilities related to finance lease obligations were approximately $0.7 million at September 30, 2025.

As of September 30, 2025, the Company had total outstanding guarantees of $14.7 million. Additionally, certain domestic and foreign customers require the Company to issue letters of credit or performance bonds as a condition of placing an order. As of September 30, 2025, the Company had total outstanding letters of credit of $3.5 million.

The Company has borrowing facilities at certain of its foreign subsidiaries, which consist of overdraft lines, working capital credit lines, and facilities for the issuance of letters of credit and short-term borrowing needs. At September 30, 2025, and December 31, 2024, $19.9 million and $8.8 million was outstanding, of which $5.5 million and $8.2 million were classified as current, respectively. These facilities support commitments made in the ordinary course of business.

FORWARD LOOKING STATEMENTS

Cautionary Statement for “Safe Harbor” Purposes Under The Private Securities Litigation Reform Act of 1995

This Form 10-Q and other documents we file with the SEC contain forward-looking statements regarding the Company’s and management’s beliefs and expectations. Any forward-looking statements are made pursuant