Company: IPGP
Filing Date: 2025-05-06
Form Type: 10-Q
Source: 0001111928-25-000069
Chunk: 59

Company: IPG PHOTONICS CORP
Filing Date: 2025-05-06
Form: 10-Q
Item: Part I, Item 8
Chunk 59
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 therefore requiring an entity to develop its own assumptions. The Company classifies its financial instruments according to the prescribed criteria.The fair value of money market fund deposits, cash equivalent term deposits, accounts receivable, accounts payable and drawings on revolving lines of credit is reasonably close to their carrying amounts due to the short maturity of most of these instruments or as a result of the competitive market interest rates, which have been negotiated. The fair value of the Company's  term deposits, commercial paper, corporate bonds, and U.S. Treasury and agency obligations are based on Level 2 inputs. 

8

Table of ContentsIPG PHOTONICS CORPORATIONNOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS - (Continued)(In thousands, except share and per share data)

The following table presents fair value information related to the Company's assets and liabilities measured at amortized cost on the Condensed Consolidated Balance Sheets:  Fair Value Measurements at March 31, 2025TotalLevel 1Level 2Level 3AssetsCash equivalents:Money market fund deposits$53,093 $53,093 $— $— Term deposits80,450 — 80,450 — Total cash equivalents133,543 53,093 80,450 — Short-term investments:Commercial paper392,733 — 392,733 — Corporate bonds118,704 — 118,704 — U.S. Treasury and agency obligations49,124 — 49,124 — Term deposits3,104 — 3,104 — Total short-term investments563,665 — 563,665 — Total$697,208 $53,093 $644,115 $—  Fair Value Measurements at December 31, 2024TotalLevel 1Level 2Level 3AssetsCash equivalents:Money market fund deposits$77,855 $77,855 $— $— Commercial paper163,589 — 163,589 — U.S. Treasury and agency obligations47,770 — 47,770 — Term deposits45,079 — 45,079 — Corporate bonds15,777 — 15,777 — Total cash equivalents350,070 77,855 272,215 — Short-term investments:Commercial paper219,355 — 219,355 — Corporate bonds60,