GENTEX CORP
For the period ended Dec 31, 2024. Filed Feb 25, 2025.
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A company's yearly report to the SEC, with audited financial statements. It is the fullest account a company gives of its business, its finances and the risks it sees.
FY2024 · Filed Feb 25, 2025
GNTX$19.42-0.4%Stored close · as of Nov 10, 2026
Extracted filing text, with the paragraph anchors used by the comparison.
See the whole filing, with its images and exhibitsContents
Consolidated Balance Sheets as of December 31, 202 and
CONSOLIDATED BALANCE SHEETS
AS OF DECEMBER 31, 2024 AND 2023
| 2024 | 2023 | |
|---|---|---|
| ASSETS | ||
| CURRENT ASSETS: | ||
| Cash and cash equivalents | $233,318,766 | $226,435,019 |
| Short-term investments | 22,304,829 | 14,356,476 |
| Accounts receivable, net | 295,344,353 | 321,809,868 |
| Inventories, net | 436,497,445 | 402,473,028 |
| Prepaid expenses and other | 49,862,777 | 32,663,762 |
| Total current assets | 1,037,328,170 | 997,738,153 |
| PLANT AND EQUIPMENT: | ||
| Land, buildings and improvements | 531,261,137 | 472,112,320 |
| Machinery and equipment | 1,065,109,667 | 1,011,930,699 |
| Construction-in-process | 177,907,293 | 158,327,247 |
| Total Plant and Equipment | 1,774,278,097 | 1,642,370,266 |
| Less- Accumulated depreciation | (1,045,796,630) | (989,492,594) |
| Net Plant and Equipment | 728,481,467 | 652,877,672 |
| OTHER ASSETS: | ||
| Goodwill | 340,668,927 | 340,105,631 |
| Long-term investments | 339,604,044 | 299,080,876 |
| Intangible assets, net | 195,157,160 | 214,005,910 |
| Deferred tax asset | 53,154,832 | 41,113,759 |
| Patents and other assets, net | 66,426,375 | 66,515,551 |
| Total Other Assets | 995,011,338 | 960,821,727 |
| TOTAL ASSETS | $2,760,820,975 | $2,611,437,552 |
| LIABILITIES AND SHAREHOLDERS’ INVESTMENT | ||
| CURRENT LIABILITIES: | ||
| Accounts payable | $168,314,912 | $184,398,820 |
| Accrued liabilities: | ||
| Salaries, wages and vacation | 19,526,367 | 22,725,631 |
| Income taxes | 439,545 | 693,391 |
| Royalties | 21,087,480 | 20,898,949 |
| Dividends payable | 27,264,897 | 27,774,653 |
| Other | 16,059,475 | 15,117,532 |
| Total current liabilities | 252,692,676 | 271,608,976 |
| OTHER NON-CURRENT LIABILITIES | 36,028,644 | 27,311,507 |
| TOTAL LIABILITIES | 288,721,320 | 298,920,483 |
| SHAREHOLDERS’ INVESTMENT: | ||
| Common stock, par value 0.06 per share; 400,000,000 shares authorized; 227,207,472 and 231,455,443 shares issued and outstanding in 2024 and 2023 respectively. | 13,632,448 | 13,887,326 |
| Additional paid-in capital | 1,010,440,420 | 968,245,875 |
| Retained earnings | 1,450,287,128 | 1,336,940,990 |
| Accumulated other comprehensive (loss) income: | ||
| Unrealized loss on investments, net | (591,605) | (2,022,403) |
| Cumulative translation adjustment | (5,817,736) | (4,534,719) |
| TOTAL GENTEX CORPORATION SHAREHOLDERS' INVESTMENT | 2,467,950,655 | 2,312,517,069 |
| Non-controlling Interest | 4,149,000 | — |
| TOTAL LIABILITIES AND SHAREHOLDERS' INVESTMENT | $2,760,820,975 | $2,611,437,552 |
The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.