LGL GROUP INC
For the period ended Dec 31, 2024. Filed Mar 31, 2025.
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FY2024 · Filed Mar 31, 2025
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Other Financial Statement Information
15. Other Financial Statement Information
Inventories, Net
The Company reduces the value of its inventories to net realizable value when the net realizable value is believed to be less than the cost of the item.
The components of inventory as of* December 31, 2024and2023* are summarized below:
| December 31, | ||
|---|---|---|
| 2024 | 2023 | |
| Raw materials | $302 | $271 |
| Work in process | 5 | 9 |
| Finished goods | 31 | — |
| Total gross inventory | 338 | 280 |
| Reserve for excess and obsolete inventory | (71) | (76) |
| Inventories, net | $267 | $204 |
Intangible Assets, Net
The components of intangible assets as of* December 31, 2024and2023* are summarized below:
| December 31, | ||
|---|---|---|
| 2024 | 2023 | |
| Intellectual property | $214 | $214 |
| Gross intangible assets | 214 | 214 |
| Less: Accumulated amortization | (178) | (157) |
| Intangible assets, net | $36 | $57 |
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