We are often required to obtain standby letters of credit (LOCs) or bonds in support of our obligations for customer contracts. These standby LOCs or bonds typically provide a guarantee to the customer for our future performance, which usually covers the installation phase of a contract and may, on occasion, cover the operations and maintenance phase of outsourcing contracts.


In thousands	June 30, 2025		December 31, 2024
Credit facility
Multicurrency revolving line of credit	$	500,000	$	500,000

Standby LOCs issued and outstanding	(45,253)		(46,013)
Net available for additional borrowings under the multicurrency revolving line of credit	$	454,747	$	453,987

Net available for additional standby LOCs under sub-facility	$	254,747	$	253,987

Unsecured multicurrency revolving lines of credit with various financial institutions
Multicurrency revolving lines of credit	$	96,259	$	87,230
Standby LOCs issued and outstanding	(25,675)		(19,541)
Short-term borrowings	—		—
Net available for additional borrowings and LOCs	$	70,584	$	67,689

Unsecured surety bonds in force	$	350,490	$	363,097

In the event any such standby LOC or bond were called, we would be obligated to reimburse the issuer of the standby LOC or bond. As of July 31, 2025, we are not aware of any valid claims against our outstanding standby LOCs or bonds.

We generally provide an indemnification related to the infringement of any patent, copyright, trademark, or other intellectual property right on software or equipment within our sales contracts, which indemnifies the customer from, and pays the resulting costs, damages, and attorney's fees awarded against a customer with respect to, such a claim provided that (a) the customer promptly notifies us in writing of the claim and (b) we have the sole control of the defense and all related settlement negotiations. We may also provide an indemnification to our customers for third-party claims resulting from damages caused by the negligence or willful misconduct of our employees/agents in connection with the performance of certain contracts. The

terms of our indemnifications generally do not limit the maximum potential payments. It is not possible to predict the maximum potential amount of future payments under these or similar agreements.

We are subject to various legal proceedings and claims of which the outcomes are subject to significant uncertainty. Our policy is to assess the likelihood of any adverse judgments or outcomes related to legal matters, as well as ranges of probable losses. A determination of the amount of the liability required, if any, for these contingencies is made after an analysis of each known issue. A liability would be recognized and charged to operating expense when we determine that a loss is probable and the amount can be reasonably estimated. Additionally, we disclose contingencies for which a material loss is reasonably possible, but not probable.


	Three Months Ended June 30,				Six Months Ended June 30,
In thousands	2025		2024		2025		2024
Beginning balance	$	22,517	$	23,575	$	22,141	$	22,164

New product warranties	1,167		1,529		2,483		3,227
Other adjustments and expirations, net	645		(552)		1,409		928
Claims activity	(3,934)		(1,653)		(5,773)		(3,343)
Effect of change in exchange rates	372		(60)		507		(137)
Ending balance	20,767		22,839		20,767		22,839
Less: current portion of warranty	13,312		14,612		13,312		14,612
Long-term warranty	$	7,455	$	8,227	$	7,455	$	8,227

Total warranty expense is classified within cost of revenues and consists of new product warranties issued, costs related to insurance and supplier recoveries, other changes and adjustments to warranties, and customer claims.