Company: IPGP
Filing Date: 2025-05-06
Form Type: 10-Q
Source: 0001111928-25-000069
Chunk: 29

Company: IPG PHOTONICS CORP
Filing Date: 2025-05-06
Form: 10-Q
Item: Part I, Item 1
Chunk 29
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 8 yearsPatents8,034 (8,034)— 8 years8,034 (8,034)— 8 yearsTotal$128,793 $(74,496)$54,297 $127,193 $(71,817)$55,376 Amortization expense for the three months ended March 31, 2025 and 2024 was $2,502 and $1,425, respectively. The estimated future amortization expense for intangibles for the remainder of 2025 and subsequent years is as follows:2025 (a)2026202720282029ThereafterTotal$7,044 $7,746 $7,533 $7,163 $6,922 $17,889 $54,297 (a) For the nine-month period beginning April 1, 2025.

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Table of ContentsIPG PHOTONICS CORPORATIONNOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS - (Continued)(In thousands, except share and per share data)

8. OTHER LIABILITIES

Accrued expenses and other current liabilities consist of the following:March 31,December 31, 20252024Contract liabilities$61,776 $56,454 Accrued compensation53,873 56,568 Current portion of accrued warranty20,492 21,398 Short-term lease liabilities4,318 4,835 Other12,370 12,793 Total$152,829 $152,048 Other long-term liabilities and deferred income taxes consist of the following:March 31,December 31, 20252024Deferred income taxes$14,209 $14,206 Unrecognized tax benefits13,718 13,855 Accrued warranty12,624 12,954 Long-term lease liabilities11,999 13,124 Other7,322 5,635 Total$59,872 $59,774 

9. PRODUCT WARRANTIES

The Company typically provides one to five years parts and service warranties on lasers, laser and non-laser systems, and amplifiers. Most of the Company's sales offices provide support to customers in their respective geographic areas. Warranty reserves have generally been sufficient to cover product warranty repair and replacement costs. Activity related to the warranty accrual was as follows:Three Months Ended March 31,20252024Balance, beginning of period$34,352