BEL FUSE INC NJ
For the period ended Dec 31, 2023. Filed Mar 11, 2024.
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FY2023 · Filed Mar 11, 2024
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, 2023 and 2022
BEL FUSE INC. AND SUBSIDIARIES
CONSOLIDATED BALANCE SHEETS
(dollars in thousands, except share and per share data)
| December 31, | December 31, | |
|---|---|---|
| 2023 | 2022 | |
| ASSETS | ||
| Current assets: | ||
| Cash and cash equivalents | $89,371 | $70,266 |
| Held to maturity U.S. Treasury securities | 37,548 | - |
| Accounts receivable, net of allowance of $1,388 and $1,552, at December 31, 2023 and 2022, respectively | 84,129 | 107,274 |
| Inventories | 136,540 | 172,465 |
| Unbilled receivables | 12,793 | 18,244 |
| Other current assets | 21,097 | 13,159 |
| Total current assets | 381,478 | 381,408 |
| Property, plant and equipment, net | 36,533 | 36,833 |
| Right-of-use assets | 20,481 | 21,551 |
| Related-party note receivable | 2,152 | - |
| Equity method investment | 10,282 | - |
| Intangible assets, net | 49,391 | 54,111 |
| Goodwill, net | 26,642 | 25,099 |
| Deferred income taxes | 11,553 | 7,281 |
| Other assets | 33,119 | 34,183 |
| Total assets | $571,631 | $560,466 |
| LIABILITIES AND STOCKHOLDERS' EQUITY | ||
| Current liabilities: | ||
| Accounts payable | $40,441 | $64,589 |
| Accrued expenses | 54,657 | 50,873 |
| Operating lease liability, current | 6,350 | 5,870 |
| Other current liabilities | 9,161 | 14,972 |
| Total current liabilities | 110,609 | 136,304 |
| Long-term liabilities: | ||
| Long-term debt | 60,000 | 95,000 |
| Operating lease liability, long-term | 14,212 | 15,742 |
| Liability for uncertain tax positions | 19,823 | 24,798 |
| Minimum pension obligation and unfunded pension liability | 19,876 | 18,522 |
| Deferred income taxes | 1,456 | 1,257 |
| Other long-term liabilities | 5,097 | 6,497 |
| Total liabilities | 231,073 | 298,120 |
| Commitments and contingencies (see Note 19) | ||
| 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; 2,141,589 shares outstanding at each date (net of 1,072,769 restricted treasury shares) | 214 | 214 |
| Class B common stock, par value $.10 per share, 30,000,000 shares authorized; 10,620,260 shares and 10,642,760 shares outstanding at December 31, 2023 and December 31, 2022, respectively (net of 3,218,307 restricted treasury shares) | 1,065 | 1,067 |
| Treasury stock (unrestricted, consisting of 3,323 Class A shares and 17,342 Class B shares) | (454) | (349) |
| Additional paid-in capital | 44,260 | 40,772 |
| Retained earnings | 307,510 | 237,188 |
| Accumulated other comprehensive loss | (12,037) | (16,546) |
| Total stockholders' equity | 340,558 | 262,346 |
| Total liabilities and stockholders' equity | $571,631 | $560,466 |
See accompanying notes to consolidated financial statements.
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