Investments in Affiliated Companies

12 Months Ended

Dec. 31, 2024

Investments in Affiliated Companies

Investments in Affiliated Companies

3. Investments in Affiliated Companies

The company owns a 50% interest in two joint ventures with Marubun Corporation (collectively “Marubun/Arrow”) and a 50% interest in one other joint venture. These investments are accounted for using the equity method.

The following table presents the company’s investment in affiliated companies:

(thousands)	2024		2023
Marubun/Arrow	$	43,851	$	50,779
Other		13,448		11,962
	$	57,299	$	62,741

The equity in earnings of affiliated companies consists of the following:

(thousands)	2024		2023		2022
Marubun/Arrow	$	(463)	$	4,452	$	6,289
Other		1,831		1,955		1,375
	$	1,368	$	6,407	$	7,664

Under the terms of various joint venture agreements, the company is required to pay its pro-rata share of the third-party debt of the joint ventures in the event that the joint ventures are unable to meet their obligations. There were no outstanding borrowings under the third-party debt agreements of the joint ventures as of December 31, 2024 and 2023.