BEL FUSE INC NJ
For the period ended Dec 31, 2024. Filed Feb 28, 2025.
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FY2024 · Filed Feb 28, 2025
BELFB$223.38-0.4%Stored close · as of Nov 10, 2026
Extracted filing text, with the paragraph anchors used by the comparison.
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Consolidated Balance Sheets - December 31, 2024 and 2023
BEL FUSE INC. AND SUBSIDIARIES
CONSOLIDATED BALANCE SHEETS
(dollars in thousands, except share and per share data)
| December 31, | December 31, | |
|---|---|---|
| 2024 | 2023 | |
| ASSETS | ||
| Current assets: | ||
| Cash and cash equivalents | $68,253 | $89,371 |
| Held to maturity U.S. Treasury securities | 950 | 37,548 |
| Accounts receivable, net of credit losses of $1,336 and $1,388, at December 31, 2024 and 2023, respectively | 111,376 | 84,129 |
| Inventories | 161,370 | 136,540 |
| Unbilled receivables | 4,994 | 12,793 |
| Assets held for sale | 2,062 | 1,278 |
| Other current assets | 24,525 | 19,819 |
| Total current assets | 373,530 | 381,478 |
| Property, plant and equipment, net | 47,879 | 36,533 |
| Right-of-use assets | 25,125 | 20,481 |
| Related-party note receivable | 2,937 | 2,152 |
| Equity method investment | 9,265 | 10,282 |
| Intangible assets, net | 231,948 | 49,391 |
| Goodwill, net | 208,036 | 26,642 |
| Deferred income taxes | 16,430 | 11,553 |
| Other assets | 34,639 | 33,119 |
| Total assets | $949,789 | $571,631 |
| LIABILITIES, REDEEMABLE NONCONTROLLING INTEREST AND STOCKHOLDERS' EQUITY | ||
| Current liabilities: | ||
| Accounts payable | $49,182 | $40,441 |
| Accrued expenses | 53,031 | 54,657 |
| Operating lease liability, current | 7,954 | 6,350 |
| Other current liabilities | 17,902 | 9,161 |
| Total current liabilities | 128,069 | 110,609 |
| Long-term liabilities: | ||
| Long-term debt | 287,500 | 60,000 |
| Operating lease liability, long-term | 17,763 | 14,212 |
| Liability for uncertain tax positions | 18,127 | 19,823 |
| Minimum pension obligation and unfunded pension liability | 18,431 | 19,876 |
| Deferred income taxes | 28,916 | 1,456 |
| Related-party note payable | 4,995 | - |
| Other long-term liabilities | 4,826 | 5,097 |
| Total liabilities | 508,627 | 231,073 |
| Commitments and contingencies (see Note 19) | ||
| Redeemable noncontrolling interest | 80,586 | - |
| Stockholders' equity: | ||
| Preferred stock, no par value, 1,000,000 shares authorized; none issued | - | - |
| Class A common stock, par value $.10 per share, 10,000,000 shares authorized; 2,115,263 shares and 2,141,589 shares outstanding at December 31, 2024 and December 31, 2023, respectively (net of 1,072,769 restricted treasury shares) | 212 | 214 |
| Class B common stock, par value $.10 per share, 30,000,000 shares authorized; 10,425,175 shares and 10,620,260 shares outstanding at December 31, 2024 and December 31, 2023, respectively (net of 3,218,307 restricted treasury shares) | 1,046 | 1,065 |
| Treasury stock (unrestricted; none outstanding at December 31, 2024, consisted of 3,323 Class A shares and 17,342 Class B shares at December 31, 2023) | - | (454) |
| Additional paid-in capital | 31,514 | 44,260 |
| Retained earnings | 345,031 | 307,510 |
| Accumulated other comprehensive loss | (17,227) | (12,037) |
| Total stockholders' equity | 360,576 | 340,558 |
| Total liabilities, redeemable noncontrolling interest and stockholders' equity | $949,789 | $571,631 |
See accompanying notes to consolidated financial statements.
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