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

Company: PREFORMED LINE PRODUCTS CO
Filing Date: 2025-07-31
Form: 10-Q
Item: Part I, Item 1
Chunk 10
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, net of excess and obsolete inventory reserve156,010 140,155 Excess of current cost over LIFO cost(12,641)(10,242)Inventories at LIFO cost$143,369 $129,913 

Costs for inventories of certain material, mainly in the U.S., are determined using the Last-In First-Out ("LIFO") method and totaled approximately $41.3 million at June 30, 2025 and $46.5 million at December 31, 2024. An actual valuation of inventories under the LIFO method can be made only at the end of the year based on the inventory levels and costs at that time. Accordingly, interim LIFO calculations are based on management’s estimates of expected year-end inventory levels and costs. Because these estimates are subject to change and may be different than the actual inventory levels and costs at the end of the year, interim results are subject to the final year-end LIFO inventory valuation. During the three-month periods ended June 30, 2025 and 2024, the net change in LIFO inventories resulted in expense of $1.9 million and $0.3 million, respectively, to Cost of products sold. During the six-month periods ended June 30, 2025 and 2024, the net change in LIFO inventories resulted in expense of $2.4 million and of $0.4 million, respectively, to Cost of products sold. The Company’s reserves for slow moving and obsolete inventory were $17.5 million at June 30, 2025 and $17.7 million at December 31, 2024. 

NOTE 4 - PROPERTY AND EQUIPMENT, NETMajor classes of property, plant and equipment are as follows:June 30, 2025December 31, 2024Land and improvements$27,141 $20,204 Buildings and improvements130,899 125,076 Machinery, equipment and aircraft267,767 252,759 Construction in progress15,422 10,884 Property, plant and equipment, gross441,229 408,923 Less accumulated depreciation(229,306)(213,837)Property, plant and equipment, net$211,923 $195,086 

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NOTE 5 - CONTINGENT AND OTHER LIABILITIES The Company can be party to a variety of pending legal proceedings and claims arising in the normal course of business, including