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COMPONENTS OF THE COMPANY'S CONDENSED CONSOLIDATED BALANCE SHEETS

9 Months Ended

Sep. 30, 2024

COMPONENTS OF THE COMPANY'S CONDENSED CONSOLIDATED BALANCE SHEETS

COMPONENTS OF THE COMPANY'S CONDENSED CONSOLIDATED BALANCE SHEETS

3. COMPONENTS OF THE COMPANY’S CONDENSED CONSOLIDATED BALANCE SHEETS:

Accounts Receivable


	September 30,		December 31,
(In thousands)	2024		2023
Accounts receivable trade	$	50,090	$	53,147
Allowance for ship and debit		(30,445)		(36,017)
Allowance for stock rotation and rebate		(2,789)		(1,775)
Allowance for credit losses		(222)		(681)
Total	$	16,634	$	14,674

The Company maintains an allowance for estimated credit losses resulting from the inability of customers to make required payments. This allowance is established using estimates formulated by the Company’s management based upon factors such as the composition of the accounts receivable aging, historical losses, changes in payment patterns, customer creditworthiness and current economic trends. Receivables determined to be uncollectible are written off and deducted from the allowance.


	Allowance for Credit Losses
	Three Months Ended				Nine Months Ended
	September 30,				September 30,
(In thousands)	2024		2023		2024		2023
Beginning balance	$	(1,007)	$	(681)	$	(681)	$	(1,135)
Provision for credit loss expense		(202)		(671)		(1,050)		(1,498)
Receivables written off		—		—		—		—
Recoveries collected		987		671		1,509		1,952
Ending balance	$	(222)	$	(681)	$	(222)	$	(681)

Inventories


	September 30,		December 31,
(In thousands)	2024		2023
Raw materials	$	104,084	$	96,467
Work-in-process		28,775		24,727
Finished goods		34,821		41,970
Total	$	167,680	$	163,164

Accumulated Other Comprehensive Income (Loss)

Changes in accumulated other comprehensive income (loss) for the three and nine months ended September 30, 2024 and 2023, were as follows:


	Unrealized Gains
	and Losses on				Defined Benefit						Foreign Currency
	Marketable Securities				Pension Items						Items				Total
	Three Months Ended				Three Months Ended						Three Months Ended				Three Months Ended
	September 30,				September 30,						September 30,				September 30,
(In thousands)	2024		2023		2024			2023			2024		2023		2024		2023
Beginning balance	$	(749)	$	(3,295)	$	1,500		$	821		$	(3,940)	$	(3,283)	$	(3,189)	$	(5,757)
Other comprehensive income (loss) before reclassifications		3,005		455		—			—			1,235		(407)		4,240		48
Amounts reclassified from accumulated other comprehensive income (loss)		—		—		(43)	⁽¹⁾		(21)	⁽¹⁾		—		—		(43)		(21)
Net-current period other comprehensive income (loss)		3,005		455		(43)			(21)			1,235		(407)		4,197		27
Ending balance	$	2,256	$	(2,840)	$	1,457		$	800		$	(2,705)	$	(3,690)	$	1,008	$	(5,730)

(1)	This component of accumulated other comprehensive income (loss) is included in the computation of net periodic pension cost for the three months ended September 30, 2024 and 2023.


	Unrealized Gains
	and Losses on				Defined Benefit						Foreign Currency
	Marketable Securities				Pension Items						Items				Total
	Nine Months Ended				Nine Months Ended						Nine Months Ended				Nine Months Ended
	September 30,				September 30,						September 30,				September 30,
(In thousands)	2024		2023		2024			2023			2024		2023		2024		2023
Beginning balance	$	256	$	(5,323)	$	1,585		$	862		$	(3,303)	$	(2,883)	$	(1,462)	$	(7,344)
Other comprehensive income (loss) before reclassifications		2,000		2,483		—			—			598		(807)		2,598		1,676
Amounts reclassified from accumulated other comprehensive income (loss)		—		—		(128)	⁽¹⁾		(62)	⁽¹⁾		—		—		(128)		(62)
Net-current period other comprehensive income (loss)		2,000		2,483		(128)			(62)			598		(807)		2,470		1,614
Ending balance	$	2,256	$	(2,840)	$	1,457		$	800		$	(2,705)	$	(3,690)	$	1,008	$	(5,730)

(1)	This component of accumulated other comprehensive income (loss) is included in the computation of net periodic pension cost for the nine months ended September 30, 2024 and 2023.