v3.25.3

Consolidated Condensed Balance Sheets - USD ($) $ in Thousands	Sep. 30, 2025	Dec. 31, 2024
Current assets:
Cash and cash equivalents	$ 201,693	$ 295,305
Receivables, net of allowance for doubtful accounts	115,056	84,325
Inventories:
Finished goods	26,180	24,022
Work in process	30,291	36,705
Raw materials	96,156	82,681
Total inventories	152,627	143,408
Prepaid expenses and other current assets	25,210	17,078
Total current assets	494,586	540,116
Property, plant and equipment, at cost	246,217	233,203
Less accumulated depreciation	(167,855)	(158,943)
Net property, plant and equipment	78,362	74,260
Intangible assets, at cost less accumulated amortization	122,060	45,066
Other assets	13,955	12,676
Deferred income taxes	32,653	32,525
Goodwill	236,654	111,770
Total assets	978,270	816,413
Current liabilities:
Payables	69,786	55,659
Accrued compensation and employee benefits	33,524	34,912
Warranty and after-sale costs, current	8,926	7,283
Other current liabilities	41,186	20,351
Total current liabilities	153,422	118,205
Long-term deferred revenue	69,180	64,153
Deferred income taxes	24,065	3,652
Accrued non-pension postretirement benefits	3,395	3,033
Other accrued employee benefits	6,447	6,927
Warranty and after-sale costs, long-term	12,833	9,410
Other long-term liabilities	6,418	4,801
Commitments and contingencies (Note 5)
Shareholders’ equity:
Common stock, $1 par, authorized 80,000,000, issued 37,221,098 shares in 2025 and 2024	37,221	37,221
Capital in excess of par value	72,541	65,819
Reinvested earnings	624,054	547,796
Accumulated other comprehensive income (loss)	5,115	(7,906)
Less: Treasury stock, at cost, 7,751,313 shares in 2025 and 7,810,158 in 2024	(36,421)	(36,698)
Total shareholders’ equity	702,510	606,232
Total liabilities and shareholders’ equity	$ 978,270	$ 816,413

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).

BADGER METER INC 10-Q