Company: BHE
Filing Date: 2025-02-24
Form Type: 10-K
Source: 0000950170-25-025644
Chunk: 78

Company: BENCHMARK ELECTRONICS INC
Filing Date: 2025-02-24
Form: 10-K
Item: Item 1B
Chunk 78
---
 (6,271
    )

    —

    —

    (6,292
    )

    Balances, December 31, 2024

    35,992

    $
    3,599

    $
    534,945

    $
    596,010

    $
    (21,241
    )
     
    $
    1,113,313

See accompanying notes to the consolidated financial statements.

46

BENCHMARK ELECTRONICS, INC. AND SUBSIDIARIES

Consolidated Statements of Cash Flows

    Year Ended December 31,

    (in thousands)
     
    2024

    2023

    2022

    Cash flows from operating activities:

    Net income
     
    $
    63,327

    $
    64,315

    $
    68,229

    Adjustments to reconcile net income to net cash provided by (used in) operating activities:

    Depreciation

    35,911

    34,368

    33,339

    Amortization

    10,233

    11,042

    10,913

    Stock-based compensation expense

    13,366

    15,286

    18,485

    Provision for doubtful accounts

    671

    1,321

    489

    Deferred income taxes

    (5,928
    )

    (14,992
    )

    (7,248
    )

    Asset impairments

    —

    1,075

    —

    Gain on the sale of property, plant and equipment

    —

    (101
    )

    (289
    )

    Gain on assets held for sale

    —

    —

    (393
    )

    Changes in operating assets and liabilities:

    Accounts receivable

    33,953

    42,050

    (136,455
    )

    Contract assets

    7,401

    8,634

    (28,370
    )

    Inventories

    127,840

    45,071

    (206,247
    )

    Prepaid expenses and other assets

    (8,159
    )

    (4,648
    )

    (6,467
    )

    Accounts payable

    (18,283
    )

    (35,320