Company: BKTI
Filing Date: 2025-03-27
Form Type: 10-K
Source: 0001437749-25-009464
Chunk: 309

Company: BK Technologies Corp
Filing Date: 2025-03-27
Form: 10-K
Item: Item 3
Chunk 309
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   3. Allowance for Credit Losses
    
   Changes in the allowance for credit losses are composed of the following:

       Years Ended December 31,  
   2024    2023  
 Balance, beginning of year  $50  $50 
 Provision for credit losses   122   — 
 Uncollectible accounts written off   (122)  — 
 Balance, end of year  $50  $50 

   4. Property, Plant and Equipment, net
    
   Property, plant and equipment, net include the following:

       December 31,  
   2024    2023  
 Leasehold improvements  $704  $659 
 Machinery and equipment   18,977   17,793 
 Gross Property, Plant, and Equipment   19,681   18,452 
 Less accumulated depreciation and amortization   (14,770)  (13,086)
 Property, plant and equipment, net  $4,911  $5,366 

   Depreciation and amortization expense relating to property, plant and equipment for the years ended  December 31, 2024 and 2023 was approximately $1,692 and $1,635 respectively. During the year ended  December 31, 2024, the company removed from its records approximately $8 of fully depreciated machinery and equipment and none in the year ended  December 31, 2023.

        F-
       13

        BK TECHNOLOGIES CORPORATION

        YEARS ENDED
        DECEMBER 31, 2024 AND
       2023

        NOTES TO CONSOLIDATED FINANCIAL STATEMENTS

        (in thousands, except share data and percentages)

   5. Capitalized Product Development Costs
    
                 The Company accounts for the costs of Land Mobile Radio (LMR) multi-band development within its products in accordance with ASC Topic 350-30, “ Intangibles – Goodwill and Other,” under which certain LMR multi-band radio development costs incurred subsequent to the establishment of technological feasibility are capitalized and amortized over the estimated lives of the related products. The Company determined technological feasibility was established for multi-band LMR radio products by the introduction of the BKR 9000 multi-band portable product to the market in  June 2023, as specified by Topic