BENCHMARK ELECTRONICS INC
For the period ended Sep 30, 2025. Filed Nov 5, 2025.
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A company's report for each of its first three quarters. The financial statements are not audited. It shows how the business has moved since the last annual report, and what management says changed.
Sep 30, 2025 · Filed Nov 5, 2025
BHE$63.64+0.5%Stored close · as of Nov 10, 2026
Extracted filing text, with the paragraph anchors used by the comparison.
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Condensed Consolidated Statements of Cash Flows
| Nine Months EndedSeptember 30, | ||
|---|---|---|
| (in thousands) | 2025 | 2024 |
| Cash flows from operating activities: | ||
| Net income | $18,879 | $44,904 |
| Adjustments to reconcile net income to net cash provided by (used in) operating activities: | ||
| Depreciation | 27,898 | 26,897 |
| Amortization | 7,731 | 7,681 |
| Stock-based compensation expense | 15,077 | 10,740 |
| Provision for doubtful accounts | — | 671 |
| Deferred income taxes | (1,442) | (5,119) |
| Loss (gain) on the sale of property, plant and equipment | 44 | (7) |
| Gain on business divestiture | (2,351) | — |
| Changes in operating assets and liabilities: | ||
| Accounts receivable | 38,744 | 76,479 |
| Contract assets | (31,429) | (11,559) |
| Inventories | 48,547 | 102,540 |
| Prepaid expenses and other assets | (20,926) | (8,888) |
| Accounts payable | 19,566 | (16,107) |
| Advance payments from customers | (19,449) | (59,533) |
| Accrued liabilities | (12,365) | (28,127) |
| Operating leases | 1,908 | 1,192 |
| Income taxes | (25,144) | 1,545 |
| Net cash provided by operating activities | 65,288 | 143,309 |
| Cash flows from investing activities: | ||
| Additions to property, plant and equipment | (25,175) | (22,555) |
| Additions to capitalized purchased software | (2,779) | (1,666) |
| Cash received from business divestiture | 5,056 | — |
| Proceeds from the disposal of property, plant and equipment | 89 | 2,004 |
| Other, net | (1) | (1,521) |
| Net cash used in investing activities | (22,810) | (23,738) |
| Cash flows from financing activities: | ||
| Borrowings under credit agreement | 733,594 | 455,000 |
| Principal payments on credit agreement | (772,578) | (507,461) |
| Dividends paid | (18,360) | (17,794) |
| Employee taxes paid with shares withheld | (7,152) | (6,195) |
| Proceeds from stock options exercised | 4 | 482 |
| Debt issuance costs | (2,289) | — |
| Principal payments on finance leases | (142) | (135) |
| Share repurchases | (25,994) | (5,101) |
| Net cash used in financing activities | (92,917) | (81,204) |
| Effect of exchange rate changes on cash, cash equivalents and restricted cash | 8,473 | 2,843 |
| Net (decrease) increase in cash, cash equivalents and restricted cash | (41,966) | 41,210 |
| Cash, cash equivalents and restricted cash at the beginning of the year | 328,027 | 283,213 |
| Cash, cash equivalents and restricted cash at the end of the period | $286,061 | $324,423 |
| Supplemental cash flow information: | ||
| Income taxes paid, net | $58,974 | $38,807 |
| Interest paid | 15,461 | 21,806 |
| Non-cash investing activities: | ||
| Unpaid purchases of property, plant and equipment at the end of the period | 3,978 | 3,088 |
| Unpaid purchases of capitalized purchased software costs at the end of the period | 2,053 | 1,320 |
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