v3.25.3

Condensed Consolidated Balance Sheets (Current Period Unaudited) - USD ($) $ in Thousands	Sep. 30, 2025	Dec. 31, 2024
Current Assets:
Cash and cash equivalents	$ 57,743	$ 68,253
Held to maturity U.S. Treasury securities	0	950
Accounts receivable, net of allowance of $689 and $1,336, respectively	126,007	111,376
Inventories	166,112	161,370
Unbilled receivables	9,091	4,994
Assets held for sale	0	2,062
Other current assets	28,733	24,525
Total current assets	387,686	373,530
Property, plant and equipment, net	47,555	47,879
Right-of-use assets	21,980	25,125
Equity method investment	9,960	9,265
Intangible assets, net	221,212	231,948
Goodwill, net	214,643	208,036
Deferred income taxes	12,715	16,430
Other Assets, Noncurrent	33,131	34,639
Total assets	952,804	949,789
Current Liabilities:
Accounts payable	54,219	49,182
Accrued expenses	46,042	53,031
Operating lease liabilities, current	8,215	7,954
Other current liabilities	18,284	17,902
Total current liabilities	126,760	128,069
Long-term Liabilities:
Long-term debt	225,000	287,500
Operating lease liabilities, long-term	14,883	17,763
Liability for uncertain tax positions	17,658	18,127
Minimum pension obligation and unfunded pension liability	18,681	18,431
Deferred income taxes	30,274	28,916
Other Liabilities, Noncurrent	9,158	4,826
Total liabilities	443,773	508,627
Redeemable noncontrolling interest	81,271	80,586
Commitments and contingencies (see Note 15)
Shareholders' Equity:
Preferred stock, no par value, 1,000,000 shares authorized; none issued	0	0
Additional paid-in capital	36,163	31,514
Retained earnings	409,417	345,031
Accumulated other comprehensive loss	(19,090)	(17,227)
Total shareholders' equity	427,760	360,576
Total liabilities, redeemable noncontrolling interest and shareholders' equity	952,804	949,789
Common Class A [Member]
Shareholders' Equity:
Common stock	212	212
Common Class B [Member]
Shareholders' Equity:
Common stock	1,058	1,046
Related Party [Member]
Current Assets:
Related party note receivable	3,922	2,937
Long-term Liabilities:
Related-party note payable	$ 1,359	$ 4,995

Carrying value as of the balance sheet date of liabilities incurred (and for which invoices have typically been received) and payable to vendors for goods and services received that are used in an entity's business. Used to reflect the current portion of the liabilities (due within one year or within the normal operating cycle if longer).

BEL FUSE INC /NJ 10-Q