Company: PLPC
Filing Date: 2025-07-31
Form Type: 10-Q
Source: 0000080035-25-000013
Chunk: 13

Company: PREFORMED LINE PRODUCTS CO
Filing Date: 2025-07-31
Form: 10-Q
Item: Part I, Item 1
Chunk 13
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4,478)$(55,828)$(60,306)Other comprehensive income (loss) before reclassifications:Foreign currency translation adjustment— 20,352 20,352 — (12,536)(12,536)Loss on pension asset— — — — — — Amounts reclassified from AOCI:Amortization of defined benefit pension actuarial gain (a)246 — 246 178 — 178 Net current period other comprehensive income (loss)246 20,352 20,598 178 (12,536)(12,358)Balance at June 30$(5,127)$(57,184)$(62,311)$(4,300)$(68,364)$(72,664)(a)This AOCI component is included in the computation of net periodic pension expense as noted in Note 6 – Pension Plans.

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NOTE 8 - DEBT AND CREDIT ARRANGEMENTSAs of June 30, 2025, the Company maintained a credit facility (the "Facility") with PNC Bank, National Association ("PNC") with a capacity of  $90.0 million. On March 14, 2025, the Company amended the Facility to extend the maturity date from March 2, 2026 to June 30, 2028. In addition, the amendment increased the amount of unsecured borrowings that the Company is permitted to incur outside of the Facility from $40.0 million to $60.0 million and included PLP Spain as an additional borrower. The interest rate for U.S. borrowing is defined as the Secured Overnight Financing Rate (“SOFR”) plus 1.225% unless the Company’s funded debt to Earnings before Interest, Taxes and Depreciation ratio exceeds 3.00 to 1, at which point the SOFR spread becomes 1.600%. At June 30, 2025, the Company had utilized $10.4 million with $79.6 million available on the Facility. There were no long-term outstanding letters of credit on the Facility as of June 30, 2025. Our bank debt to equity percentage was 7.9%. The Facility contains, among other provisions, requirements for maintaining levels of net worth and profitability. At June 30, 2025, the Company was in compliance with these covenants.On January 19, 2021, the Company received funding