Company: BHE
Filing Date: 2025-02-24
Form Type: 10-K
Source: 0000950170-25-025644
Chunk: 102

Company: BENCHMARK ELECTRONICS INC
Filing Date: 2025-02-24
Form: 10-K
Item: Item 1B
Chunk 102
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. The advance payments are not considered a significant financing component because they are used to meet working capital demands of a contract, offset inventory risks and protect the Company from the failure of other parties to fulfill obligations under a contract.

64

Note 10—Segment, Geographic Information and Major Customer The Company’s Chief Executive Officer is our Chief Operating Decision Maker (CODM) who evaluates how resources are allocated, assesses performance and makes strategic and operational decisions. The Company currently has manufacturing facilities in the Americas, Asia and Europe to serve its customers. The Company is operated and managed geographically, and management evaluates performance and allocates the Company’s resources on a geographic basis. We provide manufacturing services, design and engineering services, and technology solutions in the Americas, Asia and Europe. Intersegment sales are generally recorded at prices that approximate arm’s length transactions. Operating segments’ measure of profitability is based on income from operations. Corporate and intersegment eliminations include (1) corporate expenses not allocated to the Company’s three reporting segments, which are primarily general and administrative expenses such as corporate employee payroll and benefit costs and corporate facility costs, and (2) income from operations on intersegment sales between reporting segments. Corporate functions include legal, finance, tax, treasury, information technology, risk management, human resources, business development and other administrative functions. The accounting policies for the reportable operating segments are the same as for the Company taken as a whole. The Company has three reportable operating segments: Americas, Asia, and Europe.Information about the Company's operating segments follows: 

        (in thousands)
         
        Americas

        Asia

        Europe

        Total

        2024

        Sales from external customers
         
        $
        1,277,702

        $
        1,050,415

        $
        327,988

        $
        2,656,105

        Intersegment sales

        52,659

        40,734

        11,349

        104,742

        $
        1,330,361

        $
        1,091,149

        $
        339,337

        $
        2,760,847

        Reconciliation of sales

        Elimination of intersegment sales

        (104,742
        )

        Sales

        $
        2,656,105

        Less:

        Cost of sales

        1,201,073

        895,842

        292,115