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IL Ramat Gavriel Industrial Park P.O. Box 619 Migdal Haemek 2310502 IL Nati Somekh, 972 4-6506109 natiso@towersemi.com Ramat Gavriel Industrial Park P.O. Box 619 Migdal Haemek 2310502 IL Ordinary Shares, par value New Israeli Shekels 15.00 per share TSEM NASDAQ 112534404 Yes No Yes Yes Large Accelerated Filer false true false false true <div style="font-size:10pt;font-family:Times New Roman"> <div> <div style="text-align:justify;line-height:1.25;font-family:'Times New Roman', Times, serif;font-weight:bold"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">Risk Management and Strategy</span></span></div> <div style="line-height:1.25"> </div> <div style="text-align:justify;text-indent:36pt;line-height:1.25;font-family:'Times New Roman', Times, serif"> <span style="font-size:10pt;font-family:Times New Roman"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">We believe an effective cybersecurity program is critical to safeguard the confidentiality, integrity, and availability of our information systems and the data residing within those systems. We have built and continue to develop processes for assessing, identifying, preventing, mitigating and managing material risks arising from cybersecurity threats. We have integrated the oversight and management of cybersecurity risk within our enterprise risk management framework to guide our cybersecurity risk management program and help drive a company-wide culture of cybersecurity risk management.  In addition, we have established policies and procedures, as well as disclosure controls with a structured reporting mechanism, to ensure the proper and timely flow of information as well as appropriate management of events, threats and any related matters.</span></span></span> </div> <div style="line-height:1.25"> </div> <div style="text-align:justify;text-indent:36pt;line-height:1.25;font-family:'Times New Roman', Times, serif"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">Our Information Technology Department uses a wide range of activities, including cybersecurity risk assessments, audits, vulnerability and penetration testing, security monitoring tools, and system scanning, among other technological and human resources, to monitor and identify cybersecurity threats and incidents, as well as to evaluate the effectiveness of our cybersecurity measures. We perform regular phishing testing on a monthly basis, and employees who fail the test receive a warning and in-person training on a quarterly basis.  We provide annual training on information security and cyber awareness for our personnel with over 98% participation rate among all employees.  In addition, we provide face-to-face training and learning management system (LMS) training on cybersecurity for all new employees.  New employees are also requested to sign a form detailing the permitted use of our computer resources.  In addition, every quarter, we send a cybersecurity awareness brochure to all employees. These training activities provide employees with effective tools to address cybersecurity threats and implement our evolving security processes and practices.</span></span></div> <div style="line-height:1.25"> </div> <div style="text-align:justify;text-indent:36pt;line-height:1.25;font-family:'Times New Roman', Times, serif"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">We engage a third party to provide 24/7 cybersecurity monitoring, detection and response services. With the third party’s assistance, our Information Technology Department tracks metrics that monitor our cybersecurity risk posture, including any identified cybersecurity threats and risks, employee security awareness proficiency, and any system vulnerabilities and patching requirements. We also engage third parties to perform assessments of our cybersecurity measures (including audits) and to assist in improving our processes and practices. The results of such assessments, audits and reviews are reported by the Chief Information Security Officer (CISO) and/or a delegate of the CISO to the Company’s management and to our Audit Committee. We are committed to adjusting our cybersecurity processes and practices as necessary based on the information provided by these assessments, audits and reviews.  Our cybersecurity processes and practices are modeled on industry best practices, including the ISO/IEC 27001 Standard.</span></span></div> <div style="line-height:1.25"> </div> <div style="text-align:justify;text-indent:36pt;line-height:1.25;font-family:'Times New Roman', Times, serif"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">We require all third-party vendors that may have access to Company, employee, customer, or other third-party data, and/or access to the Company’s systems, to complete a questionnaire and undergo a vetting process prior to being approved and onboarded. The vetting process may include a review of the vendor's relevant policies and procedures, standard certifications, technology architecture, business practices and cybersecurity profile. Third-party vendor agreements include confidentiality obligations and specify the data elements to which the third-party has access, how the third-party protects the data, personal information and data subject’s rights, and procedures for the return or destruction of protected data.</span></span></div> <div style="line-height:1.25"> </div> <div style="text-align:justify;text-indent:36pt;line-height:1.25;font-family:'Times New Roman', Times, serif"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">In addition to the above processes and resources, we deploy technical safeguards and maintain a cybersecurity incident response process designed to protect our information systems from cybersecurity threats. These safeguards include firewalls, intrusion prevention and detection systems, anti-malware functionality, access controls, system backups, denial of service attack prevention, endpoint protection, network protection and cloud workload protection, all of which are evaluated and improved through vulnerability assessments and cybersecurity threat intelligence.  In addition, within the Information Technology Department, we have an Incident Response Team, which maintains and is responsible for communicating any cybersecurity incidents in accordance with a written incident response plan (the “Incident Response Plan”). The Incident Response Plan defines responsibilities and immediate actions necessary to mitigate risk, outlines the reporting of incidents to management, and identifies necessary steps to remediate the incident and prevent future incidents. The Incident Response Team is responsible for identifying and assessing the impact of various factors, including the duration of the breach or other incident, the number of systems and users affected, the actual or potential system downtime and associated financial impact, as well as the cost and timing of system and data recovery.  We also implement controls and procedures that provide for the escalation of certain cybersecurity incidents so that decisions regarding the public disclosure and reporting of such incidents can be made by management in a timely manner.  Third parties engaged in monitoring and detection are required to report all cybersecurity incidents immediately to the CISO. Our CISO is responsible for reporting critical cybersecurity incidents that may affect Tower’s operations immediately to our senior management team and the Company’s compliance officer. Depending on the nature and severity of an incident, the incident may also need to be reported to our Disclosure Committee to determine whether the incident is or is reasonably likely to become material and shall be reported to the Audit Committee and the Board of Directors, and whether the Company must disclose the incident to the relevant authorities, as may be required by applicable regulation.</span></span></div> </div> </div> <span style="font-size:10pt;font-family:Times New Roman"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">We believe an effective cybersecurity program is critical to safeguard the confidentiality, integrity, and availability of our information systems and the data residing within those systems. We have built and continue to develop processes for assessing, identifying, preventing, mitigating and managing material risks arising from cybersecurity threats. We have integrated the oversight and management of cybersecurity risk within our enterprise risk management framework to guide our cybersecurity risk management program and help drive a company-wide culture of cybersecurity risk management.  In addition, we have established policies and procedures, as well as disclosure controls with a structured reporting mechanism, to ensure the proper and timely flow of information as well as appropriate management of events, threats and any related matters.</span></span></span> true true true <div style="font-size:10pt;font-family:Times New Roman"> <div> <div style="text-align:justify;line-height:1.25;font-family:'Times New Roman', Times, serif;font-weight:bold"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">Governance</span></span></div> <div style="line-height:1.25"> </div> <div style="text-align:justify;text-indent:36pt;line-height:1.25;font-family:'Times New Roman', Times, serif"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span style="font-size:10pt;font-family:Times New Roman">Our Board of Directors recognizes the importance of managing the risk of cybersecurity threats to the Company. The Board and its committees are responsible for overseeing our enterprise risk management activities. With respect to cybersecurity risk, the Audit Committee, responsible for, among other things, overseeing our compliance with internal controls and our management of enterprise risks, specifically oversees cybersecurity risks and the Company’s risk mitigation framework with a focus on the following: data governance, information systems, incident response for cybersecurity incidents, disaster recovery and compliance risks.</span></span></span></div> <div style="line-height:1.25"> </div> <div style="text-align:justify;text-indent:36pt;line-height:1.25;font-family:'Times New Roman', Times, serif"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span style="font-size:10pt;font-family:Times New Roman">The Audit Committee meets at least four times each year and as often as necessary to fulfill its responsibilities. <span style="font-size:10pt;font-family:Times New Roman">Our senior management team, which includes our Chief Executive Officer, Chief Financial Officer and Chief Legal Officer, together with the VP of Information Technology or CISO, report on a regular basis to the Audit Committee with a review of the cybersecurity program, status updates, progress of the annual plan, and cybersecurity risks and trends, as well as other information necessary to assess such risks and oversee the development and performance of our risk mitigation processes.  The Board of Directors and Audit Committee receive prompt and timely information regarding any cybersecurity incidents that meet established reporting thresholds, as well as required subsequent updates.</span></span></span></span></div> <div style="line-height:1.25"> </div> <div> <div style="font-size:10pt;font-family:Times New Roman"> <div> <div style="text-align:justify;text-indent:36pt;line-height:1.25;font-family:'Times New Roman', Times, serif"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span style="font-size:10pt;font-family:Times New Roman">The VP of Information Technology leads our Information Technology Department and is responsible for overseeing our information security program. The VP of Information Technology has over 25 years of industry experience and is responsible for assessing and managing cybersecurity risks, as well as communicating cybersecurity incidents, matters and trends to Company management, the Audit Committee and the Board of Directors. Team members who support our information security program have relevant educational and industry experience and regularly report to the VP of Information Technology. Our Information Technology Department regularly reports to senior management and other relevant teams on various cybersecurity threats, assessments, and findings.</span></span></span></div> <div style="line-height:1.25"> </div> <div style="text-align:justify;text-indent:36pt;line-height:1.25;font-family:'Times New Roman', Times, serif"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">The CISO, and/or a delegate of the CISO, in coordination with our Chief Executive Officer and Chief Legal Officer, work collaboratively to implement a program designed to protect our information systems from cybersecurity threats and to promptly respond to any cybersecurity incidents in accordance with our incident response and recovery plans. The CISO, and/or a delegate of the CISO, monitors the prevention, detection, mitigation and remediation of cybersecurity incidents, and reports such incidents to the Disclosure Committee when appropriate.</span></span></div> </div> </div> </div> <div style="line-height:1.25"> </div> <div style="text-align:justify;text-indent:36pt;line-height:1.25;font-family:'Times New Roman', Times, serif"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span style="font-size:10pt;font-family:Times New Roman">We face risks from cybersecurity threats that could have a material adverse effect on our business, strategy, operations, financial condition, results of operations, cash flows, or reputation. The rapid expansion in the availability and sophistication of AI and ML driven tools is significantly reshaping the cyber threat landscape.  These tools are increasingly being leveraged by malicious actors to automate, scale and refine cyberattacks, making them more targeted, convincing and difficult to detect.  To this end, there is a critical need to adopt and update AI and ML powered cybersecurity defenses and measures to minimize exposure and vulnerability. However, to date, we have not experienced any cybersecurity incidents that have had a material adverse effect. We cannot provide assurance that we will not be materially affected in the future by such risks and any future material incidents.  See “Item 3. “Key Information – D. Risk Factors - Risks Related to Our Business – “<span style="font-style:italic">Security, cyber and privacy breaches may harm our business and operations”; and “If we are unable to successfully deploy artificial intelligence (“AI”) and/or machine learning (“ML”), we may suffer a competitive disadvantage”.</span></span></span></span></div> </div> </div> <span style="font-size:10pt;font-family:Times New Roman">Our Board of Directors recognizes the importance of managing the risk of cybersecurity threats to the Company. The Board and its committees are responsible for overseeing our enterprise risk management activities. With respect to cybersecurity risk, the Audit Committee, responsible for, among other things, overseeing our compliance with internal controls and our management of enterprise risks, specifically oversees cybersecurity risks and the Company’s risk mitigation framework with a focus on the following: data governance, information systems, incident response for cybersecurity incidents, disaster recovery and compliance risks.</span> <span style="font-size:10pt;font-family:Times New Roman">The Audit Committee meets at least four times each year and as often as necessary to fulfill its responsibilities. <span style="font-size:10pt;font-family:Times New Roman">Our senior management team, which includes our Chief Executive Officer, Chief Financial Officer and Chief Legal Officer, together with the VP of Information Technology or CISO, report on a regular basis to the Audit Committee with a review of the cybersecurity program, status updates, progress of the annual plan, and cybersecurity risks and trends, as well as other information necessary to assess such risks and oversee the development and performance of our risk mitigation processes.  The Board of Directors and Audit Committee receive prompt and timely information regarding any cybersecurity incidents that meet established reporting thresholds, as well as required subsequent updates.</span></span> <span style="font-size:10pt;font-family:Times New Roman">Our senior management team, which includes our Chief Executive Officer, Chief Financial Officer and Chief Legal Officer, together with the VP of Information Technology or CISO, report on a regular basis to the Audit Committee with a review of the cybersecurity program, status updates, progress of the annual plan, and cybersecurity risks and trends, as well as other information necessary to assess such risks and oversee the development and performance of our risk mitigation processes.  The Board of Directors and Audit Committee receive prompt and timely information regarding any cybersecurity incidents that meet established reporting thresholds, as well as required subsequent updates.</span> true <div style="font-size:10pt;font-family:Times New Roman"> <div> <div style="text-align:justify;text-indent:36pt;line-height:1.25;font-family:'Times New Roman', Times, serif"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span style="font-size:10pt;font-family:Times New Roman">The VP of Information Technology leads our Information Technology Department and is responsible for overseeing our information security program. The VP of Information Technology has over 25 years of industry experience and is responsible for assessing and managing cybersecurity risks, as well as communicating cybersecurity incidents, matters and trends to Company management, the Audit Committee and the Board of Directors. Team members who support our information security program have relevant educational and industry experience and regularly report to the VP of Information Technology. Our Information Technology Department regularly reports to senior management and other relevant teams on various cybersecurity threats, assessments, and findings.</span></span></span></div> <div style="line-height:1.25"> </div> <div style="text-align:justify;text-indent:36pt;line-height:1.25;font-family:'Times New Roman', Times, serif"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">The CISO, and/or a delegate of the CISO, in coordination with our Chief Executive Officer and Chief Legal Officer, work collaboratively to implement a program designed to protect our information systems from cybersecurity threats and to promptly respond to any cybersecurity incidents in accordance with our incident response and recovery plans. The CISO, and/or a delegate of the CISO, monitors the prevention, detection, mitigation and remediation of cybersecurity incidents, and reports such incidents to the Disclosure Committee when appropriate.</span></span></div> </div> </div> <div style="font-size:10pt;font-family:Times New Roman"> <div> <div style="text-align:justify;text-indent:36pt;line-height:1.25;font-family:'Times New Roman', Times, serif"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span style="font-size:10pt;font-family:Times New Roman">The VP of Information Technology leads our Information Technology Department and is responsible for overseeing our information security program. The VP of Information Technology has over 25 years of industry experience and is responsible for assessing and managing cybersecurity risks, as well as communicating cybersecurity incidents, matters and trends to Company management, the Audit Committee and the Board of Directors. Team members who support our information security program have relevant educational and industry experience and regularly report to the VP of Information Technology. Our Information Technology Department regularly reports to senior management and other relevant teams on various cybersecurity threats, assessments, and findings.</span></span></span></div> <div style="line-height:1.25"> </div> <div style="text-align:justify;text-indent:36pt;line-height:1.25;font-family:'Times New Roman', Times, serif"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">The CISO, and/or a delegate of the CISO, in coordination with our Chief Executive Officer and Chief Legal Officer, work collaboratively to implement a program designed to protect our information systems from cybersecurity threats and to promptly respond to any cybersecurity incidents in accordance with our incident response and recovery plans. The CISO, and/or a delegate of the CISO, monitors the prevention, detection, mitigation and remediation of cybersecurity incidents, and reports such incidents to the Disclosure Committee when appropriate.</span></span></div> </div> </div> <span style="font-size:10pt;font-family:Times New Roman">The VP of Information Technology leads our Information Technology Department and is responsible for overseeing our information security program. The VP of Information Technology has over 25 years of industry experience and is responsible for assessing and managing cybersecurity risks, as well as communicating cybersecurity incidents, matters and trends to Company management, the Audit Committee and the Board of Directors. Team members who support our information security program have relevant educational and industry experience and regularly report to the VP of Information Technology. Our Information Technology Department regularly reports to senior management and other relevant teams on various cybersecurity threats, assessments, and findings.</span> true <span style="font-size:10pt;font-family:Times New Roman">We face risks from cybersecurity threats that could have a material adverse effect on our business, strategy, operations, financial condition, results of operations, cash flows, or reputation. The rapid expansion in the availability and sophistication of AI and ML driven tools is significantly reshaping the cyber threat landscape.  These tools are increasingly being leveraged by malicious actors to automate, scale and refine cyberattacks, making them more targeted, convincing and difficult to detect.  To this end, there is a critical need to adopt and update AI and ML powered cybersecurity defenses and measures to minimize exposure and vulnerability. However, to date, we have not experienced any cybersecurity incidents that have had a material adverse effect. We cannot provide assurance that we will not be materially affected in the future by such risks and any future material incidents.  See “Item 3. “Key Information – D. Risk Factors - Risks Related to Our Business – “<span style="font-style:italic">Security, cyber and privacy breaches may harm our business and operations”; and “If we are unable to successfully deploy artificial intelligence (“AI”) and/or machine learning (“ML”), we may suffer a competitive disadvantage”.</span></span> false 1197 <div style="font-size:10pt;font-family:Times New Roman"> <div> <div style="text-align:left;line-height:1.25;font-weight:bold"><span style="font-family:Times New Roman,Times,serif">Opinion on the Financial Statements</span></div> <div style="line-height:1.25"> </div> <div style="text-align:left;line-height:1.25"><span style="font-family:Times New Roman,Times,serif">We have audited the accompanying consolidated balance sheets of Tower Semiconductor Ltd. and subsidiaries (the "Company") as of December 31, 2025 and 2024, the related consolidated statements of operations, comprehensive income, changes in shareholders' equity, and cash flows, for each of the three years in the period ended December 31, 2025, and the related notes (collectively referred to as the "financial statements"). In our opinion, the financial statements present fairly, in all material respects, the financial position of the Company as of December 31, 2025 and 2024, and the results of its operations and its cash flows for each of the three years in the period ended December 31, 2025, in conformity with accounting principles generally accepted in the United States of America.</span></div> <div style="line-height:1.25"> </div> <div style="text-align:left;line-height:1.25"><span style="font-family:Times New Roman,Times,serif">We have also audited, in accordance with the standards of the Public Company Accounting Oversight Board (United States) (PCAOB), the Company's internal control over financial reporting as of December 31, 2025, based on criteria established in <span style="font-style:italic">Internal Control — Integrated Framework (2013)</span> issued by the Committee of Sponsoring Organizations of the Treadway Commission and our report dated March 2, 2026, expressed an unqualified opinion on the Company's internal control over financial reporting.</span></div> </div> </div> Brightman Almagor Zohar & Co. 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(“Tower”) include the financial statements of Tower, and (i) its wholly-owned subsidiary Tower US Holdings Inc., the sole owner of: (1) Tower Semiconductor NPB Holdings, Inc., its wholly-owned subsidiary, Tower Semiconductor Newport Beach, Inc., an independent semiconductor foundry and its wholly-owned subsidiary Newport Fab LLC (Tower Semiconductor NPB Holdings, Inc., Tower Semiconductor Newport Beach, Inc. and Newport Fab LLC, collectively referred to herein as “TSNB”); and (2) Tower Semiconductor San Antonio, Inc. (“TSSA”); (ii) its 51% owned subsidiary, Tower Partners Semiconductor Co., Ltd. (“TPSCo”), an independent semiconductor foundry which operated three semiconductor facilities located in Tonami, Uozu and Arai in Hokuriku Japan, (one of which, the Arai facility, ceased its operations in 2022, see Note 12B(ii), with the other 49% of TPSCo’s shares held by Nuvoton Technology Corporation Japan (“NTCJ”), formerly named “Panasonic Semiconductor Systems Co., Ltd.” (“PSCS”); and (iii) its wholly-owned subsidiary Tower Semiconductor Italy S.r.l. (“TSIT”), incorporated in 2021 following the collaborative arrangement signed in 2021 with ST Microelectronics S.r.l (“ST”) with regards to ST’s 300 mm facility in Agrate, Italy (see Note 12E).</div> <div style="line-height:1.25"> </div> <div style="text-align:justify;line-height:1.25">Tower and its subsidiaries are collectively referred to as the “Company”.</div> <div style="line-height:1.25"> </div> <div style="text-align:justify;line-height:1.25">The Company is a leading global analog foundry of high value semiconductor solutions, providing technology, development and process platforms for its customers in growing markets such as consumer, industrial, automotive, mobile, infrastructure, medical and aerospace and defense, The Company offers a broad range of advanced and innovative analog technology offering, comprised of a broad range of customizable process technologies including: SiPho, SiGe, BiCMOS, mixed signal/ CMOS, RF CMOS, CMOS image sensor, non-imaging sensors, displays and integrated power management. The Company also provides a world-class design enablement platform for a quick and accurate design cycle, as well as development, transfer and optimization services to integrated device manufacturers and fabless companies that require capacity. To provide multi-fab sourcing and expanded capacities and capabilities for its customers, as of December 31, 2025, the Company owns a facility in Israel (200mm), two facilities in the U.S. (200mm), two in Japan through its 51% holding in TPSCo (200mm and 300mm) and shares a clean room and capacity in a 300mm facility in Italy with ST.</div> <div style="line-height:1.25"> </div> <div style="text-align:justify;line-height:1.25">Tower’s ordinary shares are traded on the NASDAQ Global Select Market and on the Tel-Aviv Stock Exchange (“TASE”) under the symbol TSEM.</div> </td> </tr> </table> </div> </div> </div> 0.51 0.49 <div> <div style="line-height:1.25"> <div style="line-height:1.25"> <table border="0" cellpadding="0" cellspacing="0" style="font-family:'Times New Roman', Times, serif;font-size:10pt;color:#000000;width:100%"> <tr> <td style="width:56pt"><span style="font-weight:bold">NOTE 2:</span></td> <td style="width:auto"><span style="font-weight:bold">SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES</span></td> </tr> </table> </div> <div style="line-height:1.25"> </div> </div> <div style="line-height:1.25"> <div> <table border="0" cellpadding="0" cellspacing="0" style="font-family:'Times New Roman', Times, serif;font-size:10pt;color:#000000;width:100%"> <tr> <td style="width:56pt"> </td> <td style="width:22pt"><span style="font-weight:bold">A.</span></td> <td style="width:auto"><span style="font-weight:bold">Basis of Presentation</span></td> </tr> </table> <div style="line-height:1.25"> <table border="0" cellpadding="0" cellspacing="0" style="font-family:'Times New Roman', Times, serif;font-size:10pt;color:#000000;width:100%"> <tr> <td style="width:56pt"> <div> </div> </td> <td style="width:22pt"> </td> <td style="width:auto"> <div style="text-align:justify;line-height:1.25">The Company’s consolidated financial statements are presented in accordance with U.S. generally accepted accounting principles (“US GAAP”).</div> </td> </tr> </table> </div> </div> <p style="margin:0pt"> </p> <div> <div style="line-height:1.25"> <div style="line-height:1.25"> <table border="0" cellpadding="0" cellspacing="0" style="font-family:'Times New Roman', Times, serif;font-size:10pt;color:#000000;width:100%"> <tr> <td style="width:56pt"> <div> </div> </td> <td style="width:22pt"><span style="font-weight:bold">B.</span></td> <td style="width:auto"><span style="font-weight:bold">Use of Estimates in Preparation of Financial Statements</span></td> </tr> </table> <div style="line-height:1.25"> <table border="0" cellpadding="0" cellspacing="0" style="font-family:'Times New Roman', Times, serif;font-size:10pt;color:#000000;width:100%"> <tr> <td style="width:56pt"> <div> </div> </td> <td style="width:22pt"> </td> <td style="width:auto"> <div style="text-align:justify;line-height:1.25">The preparation of financial statements in conformity with US GAAP requires the Company to make estimates and assumptions that affect the reported amounts of assets and liabilities, the disclosure of contingent assets and liabilities as of the date of the financial statements, and the reported amounts of revenue and expenses during the reporting periods. Actual results could differ from those estimates.</div> </td> </tr> </table> </div> </div> </div> </div> <p style="margin:0pt"> </p> <div style="line-height:1.25"> <div style="line-height:1.25"> <div> <table border="0" cellpadding="0" cellspacing="0" style="font-family:'Times New Roman', Times, serif;font-size:10pt;color:#000000;width:100%"> <tr> <td style="width:56pt"> </td> <td style="width:22pt"><span style="font-weight:bold">C.</span></td> <td style="width:auto"><span style="font-weight:bold">Principals of Consolidation</span></td> </tr> </table> <div style="line-height:1.25"> <table border="0" cellpadding="0" cellspacing="0" style="font-family:'Times New Roman', Times, serif;font-size:10pt;color:#000000;width:100%"> <tr> <td style="width:56pt"> <div> </div> </td> <td style="width:22pt"> </td> <td style="width:auto"> <div style="text-align:justify;line-height:1.25">The Company’s consolidated financial statements include the financial statements of Tower and its subsidiaries. The Company’s consolidated financial statements are presented after the elimination of inter-company transactions and balances.</div> </td> </tr> </table> </div> </div>  <div style="line-height:1.25"> <div> <table border="0" cellpadding="0" cellspacing="0" style="font-family:'Times New Roman', Times, serif;font-size:10pt;color:#000000;width:100%"> <tr> <td style="width:56pt"> </td> <td style="width:22pt"><span style="font-weight:bold">D.</span></td> <td style="width:auto"><span style="font-weight:bold">Reclassifications</span></td> </tr> </table> <div style="line-height:1.25"> <table border="0" cellpadding="0" cellspacing="0" style="font-family:'Times New Roman', Times, serif;font-size:10pt;color:#000000;width:100%"> <tr> <td style="width:56pt"> <div> </div> </td> <td style="width:22pt"> </td> <td style="width:auto"> <div style="text-align:justify;line-height:1.25">Certain prior year amounts have been reclassified to conform to the current financial statement presentation.</div> </td> </tr> </table> </div> </div>  <div style="line-height:1.25"> <div> <table border="0" cellpadding="0" cellspacing="0" style="font-family:'Times New Roman', Times, serif;font-size:10pt;color:#000000;width:100%"> <tr> <td style="width:56pt"> </td> <td style="width:22pt"><span style="font-weight:bold">E.</span></td> <td style="width:auto"><span style="font-weight:bold">Cash and Cash Equivalents</span></td> </tr> </table> <div style="line-height:1.25"> <table border="0" cellpadding="0" cellspacing="0" style="font-family:'Times New Roman', Times, serif;font-size:10pt;color:#000000;width:100%"> <tr> <td style="width:56pt"> <div> </div> </td> <td style="width:22pt"> </td> <td style="width:auto"> <div style="text-align:justify;line-height:1.25">Cash and cash equivalents consist of cash, highly liquid bank deposits and money market funds readily convertible to known amounts of cash with original maturities of three months or less as of the date of its purchase.</div> </td> </tr> </table> </div> </div>  <div style="line-height:1.25"> <div> <table border="0" cellpadding="0" cellspacing="0" style="font-family:'Times New Roman', Times, serif;font-size:10pt;color:#000000;width:100%"> <tr> <td style="width:56pt"> </td> <td style="width:22pt"><span style="font-weight:bold">F.</span></td> <td style="width:auto"><span style="font-weight:bold">Short Term Interest-Bearing Deposits</span></td> </tr> </table> <div style="line-height:1.25"> <table border="0" cellpadding="0" cellspacing="0" style="font-family:'Times New Roman', Times, serif;font-size:10pt;color:#000000;width:100%"> <tr> <td style="width:56pt"> <div> </div> </td> <td style="width:22pt"> </td> <td style="width:auto"> <div style="text-align:justify;line-height:1.25">Short-term deposits include bank deposits with original maturities greater than three months and with remaining maturities of less than one year. Such deposits are presented at cost plus accrued interest, which approximates their fair value.</div> </td> </tr> </table> </div> </div>  <div style="line-height:1.25"> <div> <table border="0" cellpadding="0" cellspacing="0" style="font-family:'Times New Roman', Times, serif;font-size:10pt;color:#000000;width:100%"> <tr> <td style="width:56pt"> </td> <td style="font-weight:bold;width:22pt">G.</td> <td style="width:auto"> <div style="font-weight:bold">Trade Accounts Receivable - Allowance for Expected Credit Loss</div> </td> </tr> </table> <div style="line-height:1.25"> <table border="0" cellpadding="0" cellspacing="0" style="font-family:'Times New Roman', Times, serif;font-size:10pt;color:#000000;width:100%"> <tr> <td style="width:56pt"> <div> </div> </td> <td style="width:22pt"> </td> <td style="width:auto"> <div style="text-align:justify;line-height:1.25">The Company maintains an allowance based on specific analysis of each customer account receivable’s aging, assessment of its related risk and ability of the customer to make the required payment. In addition, in accordance with ASC 326, <span style="font-style:italic">"Financial Instruments - Credit Losses"</span>, an allowance is maintained for such estimated expected losses. The amount of the allowance is determined principally on the basis of past collection experience and known financial factors regarding specific customers. Trade accounts receivable are written off using this allowance when it is probable that collection will not occur. Credit is extended to customers satisfying pre-defined credit criteria.</div> <div style="text-align:justify;text-indent:0.3pt;margin-left:78pt;line-height:1.25"> </div> <div style="text-align:justify;line-height:1.25"> <div style="line-height:1.25">The total allowance for expected credit losses was $4,602 and $4,982 as of December 31, 2025 and 2024, respectively.</div> </div> </td> </tr> </table> </div> </div> <p style="margin:0pt"> </p> </div> </div> </div> </div> </div> </div> </div> <div style="margin-top:0px;margin-bottom:0px"></div> <div style="line-height:1.25"> <div style="line-height:1.25"> <div style="line-height:1.25"> <div> <div style="line-height:1.25"> <div> <table border="0" cellpadding="0" cellspacing="0" style="font-family:'Times New Roman', Times, serif;font-size:10pt;color:#000000;width:100%"> <tr> <td style="width:56pt"> </td> <td style="width:22pt"><span style="font-weight:bold">H.</span></td> <td style="width:auto"><span style="font-weight:bold">Inventories</span></td> </tr> </table> <div style="line-height:1.25"> <table border="0" cellpadding="0" cellspacing="0" style="font-family:'Times New Roman', Times, serif;font-size:10pt;color:#000000;width:100%"> <tr> <td style="width:56pt"> <div> </div> </td> <td style="width:22pt"> </td> <td style="width:auto"> <div style="text-align:justify;line-height:1.25"> <div style="line-height:1.25">Inventories are stated at the lower of aggregate cost or net realizable value. If inventory costs exceed expected net realizable value, the Company writes down the difference between the cost and the expected net realizable value. Cost of raw materials is determined mainly on the basis of the weighted average moving price per unit. Work in progress is measured at cost including acquisition costs, processing costs and other costs incurred in bringing the inventories to their present stage.</div> </div> </td> </tr> </table> </div> </div> <p style="margin:0pt"> </p> </div> </div> </div> <div style="line-height:1.25"> <div style="line-height:1.25"> <div> <table border="0" cellpadding="0" cellspacing="0" style="font-family:'Times New Roman', Times, serif;font-size:10pt;color:#000000;width:100%"> <tr> <td style="width:56pt"> </td> <td style="width:22pt"><span style="font-weight:bold">I.</span></td> <td style="width:auto"> <div style="text-align:justify;line-height:1.25"><span style="font-weight:bold">Investments in Privately Held Companies</span></div> </td> </tr> </table> <div style="line-height:1.25"> <table border="0" cellpadding="0" cellspacing="0" style="font-family:'Times New Roman', Times, serif;font-size:10pt;color:#000000;width:100%"> <tr> <td style="width:56pt"> <div> </div> </td> <td style="width:22pt"> </td> <td style="width:auto"> <div style="text-align:justify;line-height:1.25"> <div style="line-height:1.25">Long-term investments include equity investments in privately-held companies without readily determinable fair values. In accordance with ASC 321 - <span style="font-style:italic">“Investments - Equity Securities”,</span> the Company may elect to measure those investments either at fair value, or at cost less any impairment and changes resulting from observable price changes in orderly transactions for the identical or similar investment of the same issuer (“Measurement Alternative”). The Company elected to use the Measurement Alternative for each of its investments. Any adjustments resulting from impairments and/or observable price changes are recorded under “other income (expense), net” in the consolidated statements of operations. See also Note 2L below.</div> </div> </td> </tr> </table> </div> </div> <p style="margin:0pt"> </p> </div> </div> </div> </div> <div> <div style="line-height:1.25"> <div style="line-height:1.25"> <div style="line-height:1.25"> <div style="line-height:1.25"> <div style="line-height:1.25"> <div style="line-height:1.25"> <table border="0" cellpadding="0" cellspacing="0" style="font-family:'Times New Roman', Times, serif;font-size:10pt;color:#000000;width:100%"> <tr> <td style="width:56pt"> </td> <td style="width:22pt"><span style="font-weight:bold">J.</span></td> <td style="width:auto"> <div style="text-align:justify;line-height:1.25"><span style="font-weight:bold">Property and Equipment</span></div> </td> </tr> </table> <div style="line-height:1.25"> <table border="0" cellpadding="0" cellspacing="0" style="font-family:'Times New Roman', Times, serif;font-size:10pt;color:#000000;width:100%"> <tr> <td style="width:56pt"> <div> </div> </td> <td style="width:22pt"> </td> <td style="width:auto"> <div style="text-align:justify;line-height:1.25"> <div style="line-height:1.25">The Company accounts for property and equipment in accordance with Accounting Standards Codification ASC 360 “<span style="font-style:italic">Accounting for the Property, Plant and Equipment</span>”. Property and equipment are presented at cost, including capitalizable costs. Capitalizable costs include only costs that are identifiable with, and related to, the property and equipment, and are incurred prior to their initial operation. Identifiable incremental direct costs include costs associated with constructing, establishing, and installing facilities and equipment, as well as technology transfer.</div> </div> </td> </tr> </table> <div> </div> <div> <div style="line-height:1.25"> <table border="0" cellpadding="0" cellspacing="0" style="font-family:'Times New Roman', Times, serif;font-size:10pt;color:#000000;width:100%"> <tr> <td style="width:56pt"> <div> </div> </td> <td style="width:22pt"> </td> <td style="width:auto"> <div style="text-align:justify;line-height:1.25"> <div style="line-height:1.25"> <div style="line-height:1.25">Maintenance and repairs are charged to expenses as incurred.</div> </div> </div> </td> </tr> </table> <div style="line-height:1.25"> <table border="0" cellpadding="0" cellspacing="0" style="font-family:'Times New Roman', Times, serif;font-size:10pt;color:#000000;width:100%"> <tr> <td style="width:56pt"> <div> </div> </td> <td style="width:22pt"> </td> <td style="width:auto"> <div style="text-align:justify;line-height:1.25"> <div style="line-height:1.25"> <div style="line-height:1.25">Property and equipment are presented net of investment grants and government subsidies received and less accumulated depreciation.</div> </div> </div> </td> </tr> </table> <div style="line-height:1.25"> <table border="0" cellpadding="0" cellspacing="0" style="font-family:'Times New Roman', Times, serif;font-size:10pt;color:#000000;width:100%"> <tr> <td style="width:56pt"> <div> </div> </td> <td style="width:22pt"> </td> <td style="width:auto"> <div style="text-align:justify;line-height:1.25"> <div style="line-height:1.25"> <div style="line-height:1.25">Depreciation is calculated based on the straight-line method over the Company’s estimated useful lives of the assets, as follows:</div> </div> </div> </td> </tr> </table> <div style="line-height:1.25"> <table border="0" cellpadding="0" cellspacing="0" style="font-family:'Times New Roman', Times, serif;font-size:10pt;color:#000000;width:100%"> <tr> <td style="width:78pt"> <div> </div> </td> <td style="width:22pt">•</td> <td style="width:auto"> <div style="text-align:justify;line-height:1.25"> <div style="line-height:1.25"> <div style="line-height:1.25"> <div>Buildings and building improvements, including facility infrastructure: 7-25 years.</div> </div> </div> </div> </td> </tr> </table> <div style="line-height:1.25"> <table border="0" cellpadding="0" cellspacing="0" style="font-family:'Times New Roman', Times, serif;font-size:10pt;color:#000000;width:100%"> <tr> <td style="width:78pt"> <div> </div> </td> <td style="width:22pt">•</td> <td style="width:auto"> <div style="text-align:justify;line-height:1.25"> <div style="line-height:1.25"> <div style="line-height:1.25"> <div>Machinery and equipment: 15 years.</div> </div> </div> </div> </td> </tr> </table> <div style="line-height:1.25"> <table border="0" cellpadding="0" cellspacing="0" style="font-family:'Times New Roman', Times, serif;font-size:10pt;color:#000000;width:100%"> <tr> <td style="width:78pt"> <div> </div> </td> <td style="width:22pt">•</td> <td style="width:auto"> <div style="text-align:justify;line-height:1.25"> <div style="line-height:1.25"> <div style="line-height:1.25"> <div>Software, hardware and others: 3-11 years.</div> </div> </div> </div> </td> </tr> </table> </div> </div> </div> </div> </div> </div> </div> </div> </div> </div> </div> </div> </div> </div> <div style="line-height:1.25"> <div> <div style="line-height:1.25"> <div style="line-height:1.25"> <div style="line-height:1.25"> <table border="0" cellpadding="0" cellspacing="0" style="font-family:'Times New Roman', Times, serif;font-size:10pt;color:#000000;width:100%"> <tr> <td style="width:56pt"> </td> <td style="width:22pt"> </td> <td style="width:auto"> </td> </tr> <tr> <td style="width:56pt"> <div> </div> </td> <td style="width:22pt"> </td> <td style="width:auto"> <div style="text-align:justify;line-height:1.25"> <div style="line-height:1.25"> <div style="line-height:1.25"> <div style="line-height:1.25">Impairment charges, if needed, are determined based on the policy outlined in Note 2L below.</div> </div> </div> </div> </td> </tr> <tr> <td style="width:56pt"> </td> <td style="width:22pt"> </td> <td style="width:auto"> </td> </tr> </table> </div> </div> </div> </div> <div> <div style="line-height:1.25"> <div style="line-height:1.25"> <div style="line-height:1.25"> <table border="0" cellpadding="0" cellspacing="0" style="font-family:'Times New Roman', Times, serif;font-size:10pt;color:#000000;width:100%"> <tr> <td style="width:56pt"> <div> </div> </td> <td style="width:22pt"> </td> <td style="width:auto"> <div style="text-align:justify;line-height:1.25"> <div style="line-height:1.25"> <div style="line-height:1.25"> <div style="line-height:1.25">Property and equipment also include assets under capital leases, which are depreciated over their applicable useful life.</div> </div> </div> </div> </td> </tr> </table> </div> </div> </div> </div> </div> </div> <p style="margin:0pt"> </p> <div style="margin-top:0px;margin-bottom:0px"></div> <div style="line-height:1.25"> <div style="line-height:1.25"> <div style="line-height:1.25"> <div style="line-height:1.25"> <div> <div style="line-height:1.25"> <div> <table border="0" cellpadding="0" cellspacing="0" style="font-family:'Times New Roman', Times, serif;font-size:10pt;color:#000000;width:100%"> <tr> <td style="width:56pt"> </td> <td style="width:22pt"><span style="font-weight:bold">K.</span></td> <td style="width:auto"><span style="font-weight:bold">Intangible Assets and Goodwill</span></td> </tr> </table> <div style="line-height:1.25"> <table border="0" cellpadding="0" cellspacing="0" style="font-family:'Times New Roman', Times, serif;font-size:10pt;color:#000000;width:100%"> <tr> <td style="width:56pt"> <div> </div> </td> <td style="width:22pt"> </td> <td style="width:auto"> <div style="text-align:justify;line-height:1.25"> <div style="line-height:1.25"> <div style="line-height:1.25">The Company accounts for intangible assets and goodwill in accordance with ASC 350 “<span style="font-style:italic">Intangibles-Goodwill and Other</span>”. Intangible assets include the values assigned to the intangible assets as part of the purchase price allocation made at the time of acquisition. Intangible assets are amortized over the expected estimated economic life commonly used in the industry. Goodwill is not amortized and subject to impairment testing. Impairment charges on intangibles or goodwill, if needed, are determined based on the policy outlined in Note 2L below.</div> </div> </div> </td> </tr> </table> </div> </div> <div style="line-height:1.25"> <div> </div> <div> <div style="line-height:1.25"> <div> <table border="0" cellpadding="0" cellspacing="0" style="font-family:'Times New Roman', Times, serif;font-size:10pt;color:#000000;width:100%"> <tr> <td style="width:56pt"> </td> <td style="width:22pt"><span style="font-weight:bold">L.</span></td> <td style="width:auto"> <div style="text-align:justify;line-height:1.25"> <div style="line-height:1.25"><span style="font-weight:bold">Impairment of Assets</span></div> </div> </td> </tr> </table> <div style="line-height:1.25"> <table border="0" cellpadding="0" cellspacing="0" style="font-family:'Times New Roman', Times, serif;font-size:10pt;color:#000000;width:100%"> <tr> <td style="width:56pt"> <div> </div> </td> <td style="width:22pt"> </td> <td style="width:auto"> <div style="text-align:justify;line-height:1.25"> <div style="line-height:1.25"> <div style="line-height:1.25;font-style:italic;font-weight:bold">Impairment of Property, Equipment and Intangible Assets</div> </div> </div> </td> </tr> </table> <div style="line-height:1.25"> <table border="0" cellpadding="0" cellspacing="0" style="font-family:'Times New Roman', Times, serif;font-size:10pt;color:#000000;width:100%"> <tr> <td style="width:56pt"> <div> </div> </td> <td style="width:22pt"> </td> <td style="width:auto"> <div style="text-align:justify;line-height:1.25"> <div style="line-height:1.25"> <div style="line-height:1.25">The Company reviews long-lived assets and intangible assets on a periodic basis, as well as when such review is required based upon relevant circumstances, to determine whether events or changes in circumstances indicate that the carrying amount of such assets may not be recoverable, considering the undiscounted cash flows expected from them. If applicable, the Company recognizes an impairment loss based upon the difference between the carrying amount and the fair value of such assets, in accordance with ASC 360-10 “<span style="font-style:italic">Property, Plant and Equipment</span>”. As of December 31, 2025, the Company concluded there was no impairment required to its long-lived assets and intangible assets.</div> </div> </div> </td> </tr> </table> <div style="line-height:1.25"> <table border="0" cellpadding="0" cellspacing="0" style="font-family:'Times New Roman', Times, serif;font-size:10pt;color:#000000;width:100%"> <tr> <td style="width:56pt"> <div> </div> </td> <td style="width:22pt"> </td> <td style="width:auto"> <div style="text-align:justify;line-height:1.25"> <div style="line-height:1.25"> <div style="line-height:1.25;font-style:italic;font-weight:bold">Impairment of Goodwill</div> </div> </div> </td> </tr> </table> <div style="line-height:1.25"> <table border="0" cellpadding="0" cellspacing="0" style="font-family:'Times New Roman', Times, serif;font-size:10pt;color:#000000;width:100%"> <tr> <td style="width:56pt"> <div> </div> </td> <td style="width:22pt"> </td> <td style="width:auto"> <div style="text-align:justify;line-height:1.25"> <div style="line-height:1.25"> <div style="line-height:1.25">The Company performs a qualitative analysis when testing goodwill for impairment. A qualitative goodwill impairment test is performed when the fair value of a reporting unit historically has significantly exceeded the carrying value of its net assets and based on current operations is expected to continue to exceed it. Otherwise, the Company is required to conduct a quantitative impairment test and estimate the fair value of the reporting unit using a combination of an income approach based on discounted cash flow analysis and a market approach based on market multiples. If the fair value of a reporting unit is less than its carrying value, a goodwill impairment charge is recorded for the difference. As of December 31, 2025, the Company performed a qualitative impairment test for its reporting unit and concluded there was no impairment of goodwill.</div> </div> </div> </td> </tr> </table> <div style="line-height:1.25"> <table border="0" cellpadding="0" cellspacing="0" style="font-family:'Times New Roman', Times, serif;font-size:10pt;color:#000000;width:100%"> <tr> <td style="width:56pt"> <div> </div> </td> <td style="width:22pt"> </td> <td style="width:auto"> <div style="text-align:justify;line-height:1.25"> <div style="line-height:1.25"> <div style="line-height:1.25;font-style:italic;font-weight:bold">Impairment of Investment in Privately Held Companies</div> </div> </div> </td> </tr> </table> <div style="line-height:1.25"> <table border="0" cellpadding="0" cellspacing="0" style="font-family:'Times New Roman', Times, serif;font-size:10pt;color:#000000;width:100%"> <tr> <td style="width:56pt"> <div> </div> </td> <td style="width:22pt"> </td> <td style="width:auto"> <div style="text-align:justify;line-height:1.25"> <div style="line-height:1.25"> <div style="line-height:1.25">Investments in privately held companies accounted for using the Measurement Alternative are subject to periodic impairment reviews. Based on ASC 321-10-35-3, the Company’s impairment analysis considers qualitative factors to evaluate whether the investment is impaired.</div> </div> </div> </td> </tr> </table> </div> </div> </div> </div> </div> </div> </div> <p style="margin:0pt"> </p> </div> </div> </div> </div> </div> </div> </div> </div> </div> <div style="margin-top:0px;margin-bottom:0px"></div> <div style="line-height:1.25"> <div style="line-height:1.25"> <div style="line-height:1.25"> <div style="line-height:1.25"> <div> <div style="line-height:1.25"> <div> <table border="0" cellpadding="0" cellspacing="0" style="font-family:'Times New Roman', Times, serif;font-size:10pt;color:#000000;width:100%"> <tr> <td style="width:56pt"> </td> <td style="width:22pt"><span style="font-weight:bold">M.</span></td> <td style="width:auto"><span style="font-weight:bold">Leases</span></td> </tr> </table> <div style="line-height:1.25"> <table border="0" cellpadding="0" cellspacing="0" style="font-family:'Times New Roman', Times, serif;font-size:10pt;color:#000000;width:100%"> <tr> <td style="width:56pt"> <div> </div> </td> <td style="width:22pt"> </td> <td style="width:auto"> <div style="text-align:justify;line-height:1.25"> <div style="line-height:1.25"> <div style="line-height:1.25"> <div style="line-height:1.25">The Company recognizes a right-of-use asset (“ROU”) and lease liability for all operating and capital leases with a term greater than twelve months upon lease arrangement inception.</div> </div> </div> </div> </td> </tr> </table> <div> <div style="line-height:1.25"> <table border="0" cellpadding="0" cellspacing="0" style="font-family:'Times New Roman', Times, serif;font-size:10pt;color:#000000;width:100%"> <tr> <td style="width:56pt"> <div> </div> </td> <td style="width:22pt"> </td> <td style="width:auto"> <div style="text-align:justify;line-height:1.25"> <div style="line-height:1.25"> <div style="line-height:1.25"> <div style="line-height:1.25">ROU assets represent the Company’s right to use an underlying asset for the lease term and lease liabilities represent the Company’s obligation to make lease payments arising from the terms of lease contracts. ROU assets and lease liabilities are recognized at the lease commencement date based on the present value of lease payments over the lease term. Since most of the Company’s leases do not provide an implicit rate, the Company's incremental borrowing rate is used based on the information available at the commencement date in determining the present value of lease payments. The lease terms used to calculate the ROU asset and related lease liability include options to terminate the lease or extend it when it is reasonably certain that the Company will exercise that option. Lease expense for operating leases is recognized on a straight-line basis over the lease term as an operating expense. For additional information, see Notes 9D and 9E.</div> </div> </div> </div> </td> </tr> </table> </div> </div> </div> </div> <div style="line-height:1.25"> <div> <div style="line-height:1.25"> <div> <div style="line-height:1.25"> <div> <table border="0" cellpadding="0" cellspacing="0" style="font-family:'Times New Roman', Times, serif;font-size:10pt;color:#000000;width:100%"> <tr> <td style="width:56pt"> </td> <td style="width:22pt"><span style="font-weight:bold">N.</span></td> <td style="width:auto"> <div style="text-align:justify;line-height:1.25"> <div style="line-height:1.25"> <div style="line-height:1.25"><span style="font-weight:bold">Revenue Recognition</span></div> </div> </div> </td> </tr> </table> <div> <div style="line-height:1.25"> <table border="0" cellpadding="0" cellspacing="0" style="font-family:'Times New Roman', Times, serif;font-size:10pt;color:#000000;width:100%"> <tr> <td style="width:56pt"> <div> </div> </td> <td style="width:22pt"> </td> <td style="width:auto"> <div style="text-align:justify;line-height:1.25"> <div style="line-height:1.25"> <div style="line-height:1.25"> <div style="line-height:1.25">The Company recognizes revenue in accordance with ASC 606 “<span style="font-style:italic">Revenue from Contracts with Customers</span>” when it transfers the control of promised goods or services to customers in an amount that reflects the consideration the Company expects to be entitled to in exchange for those goods or services.</div> </div> </div> </div> </td> </tr> </table> <div> <div style="line-height:1.25"> <table border="0" cellpadding="0" cellspacing="0" style="font-family:'Times New Roman', Times, serif;font-size:10pt;color:#000000;width:100%"> <tr> <td style="width:56pt"> <div> </div> </td> <td style="width:22pt"> </td> <td style="width:auto"> <div style="text-align:justify;line-height:1.25"> <div style="line-height:1.25"> <div style="line-height:1.25"> <div style="line-height:1.25">The Company’s revenue is generated principally from providing its customers with manufacturing services it performs over wafers it processes in its various fabrications located around the globe through its engineering and technological facilities’ process platforms and equipment, as well as revenue from its design and technology support services. Most of the Company’s sales are achieved through the effort of its direct sales and business development force.</div> </div> </div> </div> </td> </tr> </table> <div> <div style="line-height:1.25"> <table border="0" cellpadding="0" cellspacing="0" style="font-family:'Times New Roman', Times, serif;font-size:10pt;color:#000000;width:100%"> <tr> <td style="width:56pt"> <div> </div> </td> <td style="width:22pt"> </td> <td style="width:auto"> <div style="text-align:justify;line-height:1.25"> <div style="line-height:1.25"> <div style="line-height:1.25"> <div style="line-height:1.25">Wafer sales typically contain a single performance obligation that is fulfilled on the date of delivery and recognized at a point in time, which is upon shipment of the Company’s products to unaffiliated customers, depending on shipping terms stipulated in the contract. Accordingly, control of the products transfers to the customer in accordance with the transaction's shipping terms. Taxes imposed by governmental authorities, such as sales taxes or value-added taxes, are excluded from net sales.</div> </div> </div> </div> </td> </tr> </table> <div> <div style="line-height:1.25"> <div style="line-height:1.25"> <div style="line-height:1.25"> <div style="line-height:1.25"> <div> <div style="line-height:1.25"> <div style="line-height:1.25"> <div> <div style="line-height:1.25"> <div> <div style="line-height:1.25"> <div> <div style="line-height:1.25"> <div> <div style="line-height:1.25"> <div> <div style="line-height:1.25"> <table border="0" cellpadding="0" cellspacing="0" style="font-family:'Times New Roman', Times, serif;font-size:10pt;color:#000000;width:100%"> <tr> <td style="width:56pt"> <div> </div> </td> <td style="width:22pt"> </td> <td style="width:auto"> <div style="text-align:justify;line-height:1.25"> <div style="line-height:1.25"> <div style="line-height:1.25"> <div style="line-height:1.25"> <div style="line-height:1.25">The Company provides for sales returns allowance relating to specified yield or quality commitments as a reduction of revenue, based on past experience and specific identification of relevant events, which has been in immaterial amounts.</div> </div> </div> </div> </div> </td> </tr> </table> <div> </div> </div> </div> </div> </div> </div> </div> </div> </div> </div> </div> </div> </div> </div> </div> </div> </div> </div> <div style="line-height:1.25"> <div style="line-height:1.25"> <div style="line-height:1.25"> <div style="line-height:1.25"> <div style="line-height:1.25"> <div> <div style="line-height:1.25"> <div style="line-height:1.25"> <div> <div style="line-height:1.25"> <div> <div style="line-height:1.25"> <div> <div style="line-height:1.25"> <div> <div style="line-height:1.25"> <div> <div style="line-height:1.25"> <table border="0" cellpadding="0" cellspacing="0" style="font-family:'Times New Roman', Times, serif;font-size:10pt;color:#000000;width:100%"> <tr> <td style="width:56pt"> <div> </div> </td> <td style="width:22pt"> </td> <td style="width:auto"> <div style="text-align:justify;line-height:1.25"> <div style="line-height:1.25"> <div style="line-height:1.25"> <div style="line-height:1.25"> <div style="line-height:1.25">The Company provides its customers with other services that are less significant in scope and amount and for which recognition occurs over time when customers receive the services.</div> </div> </div> </div> </div> </td> </tr> </table> </div> </div> </div> </div> </div> </div> </div> </div> </div> </div> </div> </div> </div> </div> </div> </div> </div> </div> </div> </div> </div> </div> </div> </div> </div> </div> <p style="margin:0pt"> </p> </div> </div> </div> </div> </div> </div> </div> </div> </div> </div> </div> <div style="margin-top:0px;margin-bottom:0px"></div> <div style="line-height:1.25"> <div> <div style="line-height:1.25"> <div> <table border="0" cellpadding="0" cellspacing="0" style="font-family:'Times New Roman', Times, serif;font-size:10pt;color:#000000;width:100%"> <tr> <td style="width:56pt"> </td> <td style="width:22pt"><span style="font-weight:bold">O.</span></td> <td style="width:auto"><span style="font-weight:bold">Research and Development</span></td> </tr> </table> <div style="line-height:1.25"> <table border="0" cellpadding="0" cellspacing="0" style="font-family:'Times New Roman', Times, serif;font-size:10pt;color:#000000;width:100%"> <tr> <td style="width:56pt"> <div> </div> </td> <td style="width:22pt"> </td> <td style="width:auto"> <div style="text-align:justify;line-height:1.25"> <div style="line-height:1.25"> <div style="line-height:1.25"> <div style="line-height:1.25"> <div style="line-height:1.25">Research and development costs are charged to operations as incurred. Amounts received or receivable from the government of Israel and others, such as participation in research and development programs, are offset from research and development costs. The accrual for grants receivable is determined based on the terms of the programs, provided that the criteria for entitlement have been met. As of December 31, 2025, the grants receivable amount was immaterial.</div> </div> </div> </div> </div> </td> </tr> </table> </div> </div> <div style="line-height:1.25"> <div> <div style="line-height:1.25"> <div> <table border="0" cellpadding="0" cellspacing="0" style="font-family:'Times New Roman', Times, serif;font-size:10pt;color:#000000;width:100%"> <tr> <td style="width:56pt"> </td> <td style="width:22pt"><span style="font-weight:bold">P.</span></td> <td style="width:auto"> <div style="text-align:justify;line-height:1.25"> <div style="line-height:1.25"> <div style="line-height:1.25"> <div style="line-height:1.25"><span style="font-weight:bold">Income Taxes</span></div> </div> </div> </div> </td> </tr> </table> <div> <div style="line-height:1.25"> <table border="0" cellpadding="0" cellspacing="0" style="font-family:'Times New Roman', Times, serif;font-size:10pt;color:#000000;width:100%"> <tr> <td style="width:56pt"> <div> </div> </td> <td style="width:22pt"> </td> <td style="width:auto"> <div style="text-align:justify;line-height:1.25"> <div style="line-height:1.25"> <div style="line-height:1.25"> <div style="line-height:1.25"> <div style="line-height:1.25">The Company accounts for income taxes using an asset and liability approach as prescribed in ASC 740-10 <span style="font-style:italic">“Income Taxes”.</span> This topic prescribes the use of the liability method whereby deferred tax asset and liability balances are determined based on differences between financial reporting and tax bases of assets and liabilities. Deferred taxes are measured using the enacted tax rates under applicable law expected to be in effect for the year in which the differences are expected to reverse as of the balance sheet date. Deferred tax assets and liabilities, as well as any related valuation allowance, are presented as noncurrent items on the balance sheets.</div> </div> </div> </div> </div> </td> </tr> </table> <div> <div style="line-height:1.25"> <table border="0" cellpadding="0" cellspacing="0" style="font-family:'Times New Roman', Times, serif;font-size:10pt;color:#000000;width:100%"> <tr> <td style="width:56pt"> <div> </div> </td> <td style="width:22pt"> </td> <td style="width:auto"> <div style="text-align:justify;line-height:1.25"> <div style="line-height:1.25"> <div style="line-height:1.25"> <div style="line-height:1.25"> <div style="line-height:1.25">The Company evaluates the potential realization of its deferred tax assets for each jurisdiction in which the Company operates at each reporting date and establishes valuation allowances when it is more likely than not that all or a part of its deferred tax assets will not be realized. The ultimate realization of deferred tax assets is dependent upon the generation of future taxable income of the same character and in the same jurisdiction. The Company considers all available positive and negative evidence in making this assessment, including, but not limited to, the scheduled reversal of deferred tax liabilities and deferred tax assets and projected future taxable income.</div> </div> </div> </div> </div> </td> </tr> </table> <div> <div style="line-height:1.25"> <table border="0" cellpadding="0" cellspacing="0" style="font-family:'Times New Roman', Times, serif;font-size:10pt;color:#000000;width:100%"> <tr> <td style="width:56pt"> <div> </div> </td> <td style="width:22pt"> </td> <td style="width:auto"> <div style="text-align:justify;line-height:1.25"> <div style="line-height:1.25"> <div style="line-height:1.25"> <div style="line-height:1.25"> <div style="line-height:1.25">A valuation allowance is established, when necessary, to reduce deferred tax assets to the amount that is more likely than not to be realized based on all available evidence.</div> </div> </div> </div> </div> </td> </tr> </table> <div> <div style="line-height:1.25"> <table border="0" cellpadding="0" cellspacing="0" style="font-family:'Times New Roman', Times, serif;font-size:10pt;color:#000000;width:100%"> <tr> <td style="width:56pt"> <div> </div> </td> <td style="width:22pt"> </td> <td style="width:auto"> <div style="text-align:justify;line-height:1.25"> <div style="line-height:1.25"> <div style="line-height:1.25"> <div style="line-height:1.25"> <div style="line-height:1.25">ASC 740-10 prescribes a two-step approach for recognizing and measuring uncertain tax positions. The first step is to evaluate tax positions taken or expected to be taken in a tax return by assessing whether they are more-likely-than-not sustainable, based solely on their technical merits including resolution of any related appeals or litigation process. The second step is to measure the associated tax benefit of each position as the largest amount that the Company believes is more-likely-than-not realizable. Differences between the amount of tax benefits taken or expected to be taken in its income tax returns and the amount of tax benefits recognized in its financial statements, represent the Company's unrecognized income tax benefits. The Company's policy is to include interest and penalties related to unrecognized income tax benefits as a component of income tax expense.</div> </div> </div> </div> </div> </td> </tr> </table> </div> </div> </div> </div> </div> </div> </div> </div> </div> <div> <div style="line-height:1.25"> <div> <div style="line-height:1.25"> <div> <div style="line-height:1.25"> <div> <div style="line-height:1.25"> <div> </div> </div> </div> </div> </div> </div> </div> </div> </div> </div> </div> </div> </div> </div> </div> <div style="margin-top:0px;margin-bottom:0px"></div> <div style="line-height:1.25"> <div style="line-height:1.25"> <div> <div style="line-height:1.25"> <div> <table border="0" cellpadding="0" cellspacing="0" style="font-family:'Times New Roman', Times, serif;font-size:10pt;color:#000000;width:100%"> <tr> <td style="width:56pt"> </td> <td style="width:22pt"><span style="font-weight:bold">Q.</span></td> <td style="width:auto"><span style="font-weight:bold">Earnings per Ordinary Share</span></td> </tr> </table> <div style="line-height:1.25"> <table border="0" cellpadding="0" cellspacing="0" style="font-family:'Times New Roman', Times, serif;font-size:10pt;color:#000000;width:100%"> <tr> <td style="width:56pt"> <div> </div> </td> <td style="width:22pt"> </td> <td style="width:auto"> <div style="text-align:justify;line-height:1.25">Basic earnings per share is calculated in accordance with ASC 260, “Earnings Per Share” by dividing net profit or loss attributable to ordinary equity holders of Tower (the numerator) by the weighted average number of ordinary shares outstanding during the reported period (the denominator). Diluted earnings per share is calculated, if applicable, by adjusting the net profit attributable to ordinary equity holders of Tower, and the weighted average number of ordinary shares, taking into effect all potential dilutive ordinary shares.</div> </td> </tr> </table> </div> </div> <div style="line-height:1.25"> <div> <div style="line-height:1.25"> <div> <div style="line-height:1.25"> <div> <table border="0" cellpadding="0" cellspacing="0" style="font-family:'Times New Roman', Times, serif;font-size:10pt;color:#000000;width:100%"> <tr> <td style="width:56pt"> </td> <td style="width:22pt"><span style="font-weight:bold">R.</span></td> <td style="width:auto"><span style="font-weight:bold">Comprehensive Income</span></td> </tr> </table> <div style="line-height:1.25"> <table border="0" cellpadding="0" cellspacing="0" style="font-family:'Times New Roman', Times, serif;font-size:10pt;color:#000000;width:100%"> <tr> <td style="width:56pt"> <div> </div> </td> <td style="width:22pt"> </td> <td style="width:auto"> <div style="text-align:justify;line-height:1.25">In accordance with ASC 220 “<span style="font-style:italic">Comprehensive Income</span>”, comprehensive income represents the change in shareholders’ equity during a reporting period from transactions and other events and circumstances from non-owner sources. It includes all changes in equity during a reporting period except those resulting from investments by owners and distributions to owners. Other comprehensive income (“OCI”) represents gains and losses that are included in comprehensive income but excluded from net profit.</div> </td> </tr> </table> </div> </div> <div style="line-height:1.25"> <div> <div style="line-height:1.25"> <div> <div style="line-height:1.25"> <div> <table border="0" cellpadding="0" cellspacing="0" style="font-family:'Times New Roman', Times, serif;font-size:10pt;color:#000000;width:100%"> <tr> <td style="width:56pt"> </td> <td style="width:22pt"><span style="font-weight:bold">S.</span></td> <td style="width:auto"><span style="font-weight:bold">Functional Currency and Exchange Rate Results</span></td> </tr> </table> <div style="line-height:1.25"> <table border="0" cellpadding="0" cellspacing="0" style="font-family:'Times New Roman', Times, serif;font-size:10pt;color:#000000;width:100%"> <tr> <td style="width:56pt"> <div> </div> </td> <td style="width:22pt"> </td> <td style="width:auto"> <div style="text-align:justify;line-height:1.25">The currency of the primary economic environment in which Tower, TSSA, TSNB and TSIT conduct their operations is the U.S. Dollar (“dollar”). Thus, the dollar is their functional and reporting currency. Accordingly, monetary accounts maintained in currencies other than the dollar are re-measured into dollars in accordance with ASC 830-10 “Foreign Currency Matters”. All transaction gains and losses from the re-measurement of monetary balance sheet items are reflected in the statements of operations as financial income or expenses, as appropriate. The financial statements of TPSCo, whose functional currency is the Japanese Yen (“JPY”), have been translated into dollars. The assets and liabilities have been translated using the exchange rate in effect as of the balance sheet date. The statements of operations of TPSCo have been translated using the average exchange rate for the reported period. The resulting translation adjustments are charged or credited to OCI.</div> </td> </tr> </table> </div> </div> <div style="line-height:1.25"> <div> <div style="line-height:1.25"> <div> <div style="line-height:1.25"> <div> <table border="0" cellpadding="0" cellspacing="0" style="font-family:'Times New Roman', Times, serif;font-size:10pt;color:#000000;width:100%"> <tr> <td style="width:56pt"> </td> <td style="width:22pt"><span style="font-weight:bold">T.</span></td> <td style="width:auto"><span style="font-weight:bold">Stock-based Compensation</span></td> </tr> </table> <div style="line-height:1.25"> <table border="0" cellpadding="0" cellspacing="0" style="font-family:'Times New Roman', Times, serif;font-size:10pt;color:#000000;width:100%"> <tr> <td style="width:56pt"> <div> </div> </td> <td style="width:22pt"> </td> <td style="width:auto"> <div style="text-align:justify;line-height:1.25">The Company applies the provisions of ASC Topic 718 “<span style="font-style:italic">Compensation - Stock Compensation</span>”, under which employees’ share-based equity awards (mostly restricted stock units and performance unit shares) are recognized based on the grant-date fair values.</div> </td> </tr> </table> <div> <div style="line-height:1.25"> <table border="0" cellpadding="0" cellspacing="0" style="font-family:'Times New Roman', Times, serif;font-size:10pt;color:#000000;width:100%"> <tr> <td style="width:56pt"> <div> </div> </td> <td style="width:22pt"> </td> <td style="width:auto"> <div style="text-align:justify;line-height:1.25"> <div style="line-height:1.25">The compensation costs are recognized using the graded vesting attribution method based on the vesting terms of each unit included in the award resulting in an accelerated recognition of compensation costs.</div> </div> </td> </tr> </table> </div> </div> </div> </div> <p style="margin:0pt"> </p> </div> </div> </div> </div> </div> </div> </div> </div> </div> </div> </div> </div> </div> </div> </div> </div> </div> </div> </div> <div style="margin-top:0px;margin-bottom:0px"></div> <div style="line-height:1.25"> <div style="line-height:1.25"> <div> <div style="line-height:1.25"> <div> <table border="0" cellpadding="0" cellspacing="0" style="font-family:'Times New Roman', Times, serif;font-size:10pt;color:#000000;width:100%"> <tr> <td style="width:56pt"> </td> <td style="width:22pt"><span style="font-weight:bold">U.</span></td> <td style="width:auto"><span style="font-weight:bold">Fair Value Measurements of Financial Instruments</span></td> </tr> </table> <div style="line-height:1.25"> <table border="0" cellpadding="0" cellspacing="0" style="font-family:'Times New Roman', Times, serif;font-size:10pt;color:#000000;width:100%"> <tr> <td style="width:56pt"> <div> </div> </td> <td style="width:22pt"> </td> <td style="width:auto"> <div style="text-align:justify;line-height:1.25"> <div style="line-height:1.25"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">ASC 820, "<em>Fair Value Measurements and Disclosures</em>" (“<em>ASC 820</em>”), requires an entity to maximize the use of observable inputs and minimize the use of unobservable inputs when measuring fair value. ASC 820 establishes a fair value hierarchy based on the level of independent, objective evidence surrounding the inputs used to measure fair value. A financial instrument's categorization within the fair value hierarchy is based upon the lowest level of input that is significant to the fair value measurement.</span></span></div> </div> </td> </tr> </table> <div> <div style="line-height:1.25"> <table border="0" cellpadding="0" cellspacing="0" style="font-family:'Times New Roman', Times, serif;font-size:10pt;color:#000000;width:100%"> <tr> <td style="width:56pt"> <div> </div> </td> <td style="width:22pt"> </td> <td style="width:auto"> <div style="text-align:justify;line-height:1.25"> <div style="line-height:1.25">ASC 820 prioritizes the considerations that may be used to measure fair value to the following three levels:</div> </div> </td> </tr> </table> <div> <div style="line-height:1.25"> <table border="0" cellpadding="0" cellspacing="0" style="font-family:'Times New Roman', Times, serif;font-size:10pt;color:#000000;width:100%"> <tr> <td style="width:56pt"> <div> </div> </td> <td style="width:22pt"> </td> <td style="font-weight:bold;font-style:italic;width:auto"> <div style="text-align:justify;line-height:1.25">Level 1</div> </td> </tr> </table> <div> <div style="line-height:1.25"> <table border="0" cellpadding="0" cellspacing="0" style="font-family:'Times New Roman', Times, serif;font-size:10pt;color:#000000;width:100%"> <tr> <td style="width:56pt"> <div> </div> </td> <td style="width:22pt"> </td> <td style="width:auto"> <div style="text-align:justify;line-height:1.25"> <div style="line-height:1.25">Level 1 applies to assets or liabilities for which there are quoted prices in active markets for identical assets or liabilities.</div> </div> </td> </tr> </table> <div> <div style="line-height:1.25"> <table border="0" cellpadding="0" cellspacing="0" style="font-family:'Times New Roman', Times, serif;font-size:10pt;color:#000000;width:100%"> <tr> <td style="width:56pt"> <div> </div> </td> <td style="width:22pt"> </td> <td style="width:auto"> <div style="text-align:justify;line-height:1.25;font-weight:bold;font-style:italic">Level 2</div> </td> </tr> </table> <div> <div style="line-height:1.25"> <table border="0" cellpadding="0" cellspacing="0" style="font-family:'Times New Roman', Times, serif;font-size:10pt;color:#000000;width:100%"> <tr> <td style="width:56pt"> <div> </div> </td> <td style="width:22pt"> </td> <td style="width:auto"> <div style="text-align:justify;line-height:1.25"> <div style="line-height:1.25">Level 2 applies to assets or liabilities for which there are inputs other than quoted prices that are observable for the asset or liability such as quoted prices for similar assets or liabilities in active markets; quoted prices for identical assets or liabilities in markets with insufficient volume or infrequent transactions (less active markets); or model-derived valuations in which significant inputs are observable or can be derived principally from, or corroborated by, observable market data.</div> </div> </td> </tr> </table> <div> <div style="line-height:1.25"> <table border="0" cellpadding="0" cellspacing="0" style="font-family:'Times New Roman', Times, serif;font-size:10pt;color:#000000;width:100%"> <tr> <td style="width:56pt"> <div> </div> </td> <td style="width:22pt"> </td> <td style="font-weight:bold;font-style:italic;width:auto"> <div style="text-align:justify;line-height:1.25">Level 3</div> </td> </tr> </table> <div> <div style="line-height:1.25"> <table border="0" cellpadding="0" cellspacing="0" style="font-family:'Times New Roman', Times, serif;font-size:10pt;color:#000000;width:100%"> <tr> <td style="width:56pt"> <div> </div> </td> <td style="width:22pt"> </td> <td style="width:auto"> <div style="text-align:justify;line-height:1.25"> <div style="line-height:1.25">Level 3 applies to assets or liabilities for which there are unobservable inputs to the valuation methodology that are significant to the measurement of the fair value of the assets or liabilities.</div> </div> </td> </tr> </table> <div> <div style="line-height:1.25"> <table border="0" cellpadding="0" cellspacing="0" style="font-family:'Times New Roman', Times, serif;font-size:10pt;color:#000000;width:100%"> <tr> <td style="width:56pt"> <div> </div> </td> <td style="width:22pt"> </td> <td style="width:auto"> <div style="text-align:justify;line-height:1.25"> <div style="line-height:1.25">The carrying value of the Company’s bank deposits, accounts receivable, payable and accrued liabilities, approximate their current fair values in accordance with their nature and respective maturity dates or durations. The Company had no financial assets or liabilities carried and measured on a non-recurring basis during the reporting periods. Financial assets and liabilities measured on a recurring basis are those that are adjusted to fair value each time a financial statement is prepared such as marketable securities and investments in privately-held companies.</div> </div> </td> </tr> </table> </div> </div> </div> </div> </div> </div> </div> </div> </div> </div> </div> </div> </div> </div> </div> </div> </div> </div> <p style="margin:0pt"> </p> </div> </div> </div> </div> <div style="margin-top:0px;margin-bottom:0px"></div> <div> <div style="text-align:justify;line-height:1.25"> <div style="line-height:1.25"> <div> <div style="line-height:1.25"> <table border="0" cellpadding="0" cellspacing="0" style="font-family:'Times New Roman', Times, serif;font-size:10pt;color:#000000;width:100%"> <tr> <td style="width:56pt"> </td> <td style="font-weight:bold;width:22pt">V.</td> <td style="font-weight:bold;width:auto">Derivatives and Hedging</td> </tr> </table> <div style="line-height:1.25"> <table border="0" cellpadding="0" cellspacing="0" style="font-family:'Times New Roman', Times, serif;font-size:10pt;color:#000000;width:100%"> <tr> <td style="width:56pt"> <div> </div> </td> <td style="width:22pt"> </td> <td style="width:auto"> <div style="text-align:justify;line-height:1.25"> <div style="line-height:1.25"> <div style="line-height:1.25">In accordance with ASC Topic 815, Derivative and Hedging ("ASC 815"), the Company recognizes all its derivative instruments as either assets or liabilities and carries them at fair value.</div> </div> </div> </td> </tr> </table> <div> </div> </div> </div> </div> </div> </div> <div style="line-height:1.25"> <div style="line-height:1.25"> <table border="0" cellpadding="0" cellspacing="0" style="font-family:'Times New Roman', Times, serif;font-size:10pt;color:#000000;width:100%"> <tr> <td style="width:56pt"> <div> </div> </td> <td style="width:22pt"> </td> <td style="width:auto"> <div style="text-align:justify;line-height:1.25"> <div style="line-height:1.25"> <div style="line-height:1.25">For derivative instruments that are designated and qualify as cash flow hedges, the derivative's gain or loss is initially reported as a component of OCI and is subsequently recorded into earnings when the hedged exposure affects earnings, in the same line item as the underlying hedged item on the consolidated statements of earnings.</div> </div> </div> </td> </tr> </table> <div> <div style="line-height:1.25"> <table border="0" cellpadding="0" cellspacing="0" style="font-family:'Times New Roman', Times, serif;font-size:10pt;color:#000000;width:100%"> <tr> <td style="width:56pt"> <div> </div> </td> <td style="width:22pt"> </td> <td style="width:auto"> <div style="text-align:justify;line-height:1.25"> <div style="line-height:1.25"> <div style="line-height:1.25">Cash flow hedges related to anticipated transactions are designated and documented at the inception of each hedge. Cash flows from hedging transactions are presented in the same categories as the cash flows from the respective hedged items.</div> </div> </div> </td> </tr> </table> </div> </div> </div> </div> </div> <div style="line-height:1.25"> <div style="line-height:1.25"> <div> <div style="line-height:1.25"> <div> <div style="line-height:1.25"> <div> <table border="0" cellpadding="0" cellspacing="0" style="font-family:'Times New Roman', Times, serif;font-size:10pt;color:#000000;width:100%"> <tr> <td style="width:56pt"> <div> </div> </td> <td style="font-weight:bold;width:22pt">W</td> <td style="font-weight:bold;width:auto"> <div style="text-align:justify;line-height:1.25"> <div style="line-height:1.25">Recently Adopted Accounting Pronouncements</div> </div> </td> </tr> </table> <div> <div style="line-height:1.25"> <table border="0" cellpadding="0" cellspacing="0" style="font-family:'Times New Roman', Times, serif;font-size:10pt;color:#000000;width:100%"> <tr> <td style="width:56pt"> <div> </div> </td> <td style="width:22pt"> </td> <td style="width:auto"> <div style="text-align:justify;line-height:1.25"> <div style="line-height:1.25"> <div style="line-height:1.25">In November 2023, the Financial Accounting Standards Board (“FASB”) issued ASU No. 2023-07, Segment Reporting (Topic 280): Improvements to Reportable Segment Disclosures, which requires public entities to disclose information about their reportable segments’ significant expenses and other segment items on an interim and annual basis. Public entities with a single reportable segment are required to apply the disclosure requirements in ASU No. 2023-07, as well as all existing segment disclosures and reconciliation requirements in ASC 280 on an interim and annual basis. The new standard is effective for fiscal years beginning after December 15, 2023, and interim periods within fiscal years beginning after December 15, 2024. The adoption of this ASU did not have any impact on the Company’s financial position, results of operations or cash flow reports. See Note 14E with regards to applicable disclosure.</div> </div> </div> </td> </tr> </table> <div> <div style="line-height:1.25"> <table border="0" cellpadding="0" cellspacing="0" style="font-family:'Times New Roman', Times, serif;font-size:10pt;color:#000000;width:100%"> <tr> <td style="width:56pt"> <div> </div> </td> <td style="width:22pt"> </td> <td style="width:auto"> <div style="text-align:justify;line-height:1.25"> <div style="line-height:1.25"> <div style="line-height:1.25">On December 23, 2023, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update (“ASU”) No.<span style="font-weight:bold"> </span>2023-09 -<span style="font-weight:bold"> </span>Income<span style="font-weight:bold"> </span>taxes (topic 740): improvements to income tax disclosures. This ASU requires disclosure of specific categories in rate reconciliation and additional information for reconciling items that meet a quantitative threshold. The amendment also includes other changes to improve the effectiveness of income tax disclosures, including further disaggregation of income taxes paid for individually significant jurisdictions. The amendment is effective for annual periods beginning after December 15, 2024. The adoption of the amendment did not have an impact on the Company’s financial position, results of operations or cash flows. See Note 17 with regards to applicable disclosure.</div> </div> </div> </td> </tr> </table> </div> </div> </div> </div> </div> <div> <div style="line-height:1.25"> <div> <div style="line-height:1.25"> <div> </div> </div> </div> </div> </div> </div> </div> </div> </div> </div> </div> <div style="margin-top:0px;margin-bottom:0px"></div> <div style="line-height:1.25"> <div style="line-height:1.25"> <div> <div style="line-height:1.25"> <div> <table border="0" cellpadding="0" cellspacing="0" style="font-family:'Times New Roman', Times, serif;font-size:10pt;color:#000000;width:100%"> <tr> <td style="width:56pt"> </td> <td style="font-weight:bold;width:22pt">X.</td> <td style="font-weight:bold;width:auto">Recently Issued Accounting Pronouncements Not Yet Adopted</td> </tr> </table> <div style="line-height:1.25"> <div> <div style="line-height:1.25"> <table border="0" cellpadding="0" cellspacing="0" style="font-family:'Times New Roman', Times, serif;font-size:10pt;color:#000000;width:100%"> <tr> <td style="width:56pt"> <div> </div> </td> <td style="font-weight:bold;width:22pt"> </td> <td style="font-weight:bold;width:auto"> <div style="text-align:justify;line-height:1.25;font-weight:normal">In November 2024, the FASB issued ASU 2024-03, Income Statement – Reporting Comprehensive Income – Expense Disaggregation Disclosures (Subtopic 220-40): Disaggregation of Income Statement Expenses. ASU 2024-03 requires disclosure of specified information about certain costs and expenses on an interim and annual basis in the notes to the financial statements. The guidance is effective for fiscal years beginning after December 15, 2026, and interim reporting periods beginning after December 15, 2027. The Company does not expect the new standard to have a material impact on its consolidated financial statements.</div> <div style="line-height:1.25;font-weight:normal"> </div> <div style="text-align:justify;line-height:1.25;font-weight:normal">In July 2025, the FASB issued ASU No. 2025-05, Financial Instruments-Credit Losses (Topic 326): Measurement of Credit Losses for Accounts Receivable and Contract Assets (“ASU 2025-05”), which provides a practical expedient to measure credit losses on current accounts receivable and current contract assets under ASC 606, Revenue from Contracts with Customers. The practical expedient assumes that current conditions as of the balance sheet date do not change for the remaining life of the asset. The ASU 2025-05 is effective for annual reporting period beginning after December 15, 2025 and interim reporting within those annual reporting periods. The new standard is not expected to have a material impact on the Company’s consolidated financial statements.</div> <div style="line-height:1.25;font-weight:normal"> </div> <div style="text-align:justify;line-height:1.25;font-weight:normal">In November 2025, the FASB issued ASU No. 2025-09, Hedge Accounting Improvements (Topic 815), which amends certain aspects of the hedge accounting guidance in ASC 815, to more closely align hedge accounting with the economics of an entity’s risk management activities. The ASU is effective for annual periods beginning after December 15, 2026 and interim reporting within those annual reporting periods. The ASU is not expected to have a material impact on the Company’s consolidated financial statements.</div> <div style="line-height:1.25;font-weight:normal"> </div> <div style="text-align:justify;line-height:1.25"><span style="font-weight:normal">In December 2025, the FASB issued ASU No. 2025-10, Government Grants (Topic 832): Accounting for Government Grants Received by Business Entities, which adds guidance to ASC 832 on the recognition, measurement, and presentation of government grants. The ASU requires entities to recognize government grant income when all eligibility criteria have been met and the related costs have been incurred, clarifying the timing and presentation of such grants within the financial statements. The ASU is effective for annual periods beginning after December 15, 2028 and interim reporting within those annual reporting periods. The company is still evaluating the potential impact of the new standard on its financial statements.</span></div> </td> </tr> </table> </div> </div> </div> </div> </div> </div> </div> </div> </div> <div> <table border="0" cellpadding="0" cellspacing="0" style="font-family:'Times New Roman', Times, serif;font-size:10pt;color:#000000;width:100%"> <tr> <td style="width:56pt"> </td> <td style="width:22pt"><span style="font-weight:bold">A.</span></td> <td style="width:auto"><span style="font-weight:bold">Basis of Presentation</span></td> </tr> </table> <div style="line-height:1.25"> <table border="0" cellpadding="0" cellspacing="0" style="font-family:'Times New Roman', Times, serif;font-size:10pt;color:#000000;width:100%"> <tr> <td style="width:56pt"> <div> </div> </td> <td style="width:22pt"> </td> <td style="width:auto"> <div style="text-align:justify;line-height:1.25">The Company’s consolidated financial statements are presented in accordance with U.S. generally accepted accounting principles (“US GAAP”).</div> </td> </tr> </table> </div> </div> <div> <div style="line-height:1.25"> <div style="line-height:1.25"> <table border="0" cellpadding="0" cellspacing="0" style="font-family:'Times New Roman', Times, serif;font-size:10pt;color:#000000;width:100%"> <tr> <td style="width:56pt"> <div> </div> </td> <td style="width:22pt"><span style="font-weight:bold">B.</span></td> <td style="width:auto"><span style="font-weight:bold">Use of Estimates in Preparation of Financial Statements</span></td> </tr> </table> <div style="line-height:1.25"> <table border="0" cellpadding="0" cellspacing="0" style="font-family:'Times New Roman', Times, serif;font-size:10pt;color:#000000;width:100%"> <tr> <td style="width:56pt"> <div> </div> </td> <td style="width:22pt"> </td> <td style="width:auto"> <div style="text-align:justify;line-height:1.25">The preparation of financial statements in conformity with US GAAP requires the Company to make estimates and assumptions that affect the reported amounts of assets and liabilities, the disclosure of contingent assets and liabilities as of the date of the financial statements, and the reported amounts of revenue and expenses during the reporting periods. Actual results could differ from those estimates.</div> </td> </tr> </table> </div> </div> </div> </div> <div> <table border="0" cellpadding="0" cellspacing="0" style="font-family:'Times New Roman', Times, serif;font-size:10pt;color:#000000;width:100%"> <tr> <td style="width:56pt"> </td> <td style="width:22pt"><span style="font-weight:bold">C.</span></td> <td style="width:auto"><span style="font-weight:bold">Principals of Consolidation</span></td> </tr> </table> <div style="line-height:1.25"> <table border="0" cellpadding="0" cellspacing="0" style="font-family:'Times New Roman', Times, serif;font-size:10pt;color:#000000;width:100%"> <tr> <td style="width:56pt"> <div> </div> </td> <td style="width:22pt"> </td> <td style="width:auto"> <div style="text-align:justify;line-height:1.25">The Company’s consolidated financial statements include the financial statements of Tower and its subsidiaries. The Company’s consolidated financial statements are presented after the elimination of inter-company transactions and balances.</div> </td> </tr> </table> </div> </div> <div> <table border="0" cellpadding="0" cellspacing="0" style="font-family:'Times New Roman', Times, serif;font-size:10pt;color:#000000;width:100%"> <tr> <td style="width:56pt"> </td> <td style="width:22pt"><span style="font-weight:bold">D.</span></td> <td style="width:auto"><span style="font-weight:bold">Reclassifications</span></td> </tr> </table> <div style="line-height:1.25"> <table border="0" cellpadding="0" cellspacing="0" style="font-family:'Times New Roman', Times, serif;font-size:10pt;color:#000000;width:100%"> <tr> <td style="width:56pt"> <div> </div> </td> <td style="width:22pt"> </td> <td style="width:auto"> <div style="text-align:justify;line-height:1.25">Certain prior year amounts have been reclassified to conform to the current financial statement presentation.</div> </td> </tr> </table> </div> </div> <div> <table border="0" cellpadding="0" cellspacing="0" style="font-family:'Times New Roman', Times, serif;font-size:10pt;color:#000000;width:100%"> <tr> <td style="width:56pt"> </td> <td style="width:22pt"><span style="font-weight:bold">E.</span></td> <td style="width:auto"><span style="font-weight:bold">Cash and Cash Equivalents</span></td> </tr> </table> <div style="line-height:1.25"> <table border="0" cellpadding="0" cellspacing="0" style="font-family:'Times New Roman', Times, serif;font-size:10pt;color:#000000;width:100%"> <tr> <td style="width:56pt"> <div> </div> </td> <td style="width:22pt"> </td> <td style="width:auto"> <div style="text-align:justify;line-height:1.25">Cash and cash equivalents consist of cash, highly liquid bank deposits and money market funds readily convertible to known amounts of cash with original maturities of three months or less as of the date of its purchase.</div> </td> </tr> </table> </div> </div> <div> <table border="0" cellpadding="0" cellspacing="0" style="font-family:'Times New Roman', Times, serif;font-size:10pt;color:#000000;width:100%"> <tr> <td style="width:56pt"> </td> <td style="width:22pt"><span style="font-weight:bold">F.</span></td> <td style="width:auto"><span style="font-weight:bold">Short Term Interest-Bearing Deposits</span></td> </tr> </table> <div style="line-height:1.25"> <table border="0" cellpadding="0" cellspacing="0" style="font-family:'Times New Roman', Times, serif;font-size:10pt;color:#000000;width:100%"> <tr> <td style="width:56pt"> <div> </div> </td> <td style="width:22pt"> </td> <td style="width:auto"> <div style="text-align:justify;line-height:1.25">Short-term deposits include bank deposits with original maturities greater than three months and with remaining maturities of less than one year. Such deposits are presented at cost plus accrued interest, which approximates their fair value.</div> </td> </tr> </table> </div> </div> <div> <table border="0" cellpadding="0" cellspacing="0" style="font-family:'Times New Roman', Times, serif;font-size:10pt;color:#000000;width:100%"> <tr> <td style="width:56pt"> </td> <td style="font-weight:bold;width:22pt">G.</td> <td style="width:auto"> <div style="font-weight:bold">Trade Accounts Receivable - Allowance for Expected Credit Loss</div> </td> </tr> </table> <div style="line-height:1.25"> <table border="0" cellpadding="0" cellspacing="0" style="font-family:'Times New Roman', Times, serif;font-size:10pt;color:#000000;width:100%"> <tr> <td style="width:56pt"> <div> </div> </td> <td style="width:22pt"> </td> <td style="width:auto"> <div style="text-align:justify;line-height:1.25">The Company maintains an allowance based on specific analysis of each customer account receivable’s aging, assessment of its related risk and ability of the customer to make the required payment. In addition, in accordance with ASC 326, <span style="font-style:italic">"Financial Instruments - Credit Losses"</span>, an allowance is maintained for such estimated expected losses. The amount of the allowance is determined principally on the basis of past collection experience and known financial factors regarding specific customers. Trade accounts receivable are written off using this allowance when it is probable that collection will not occur. Credit is extended to customers satisfying pre-defined credit criteria.</div> <div style="text-align:justify;text-indent:0.3pt;margin-left:78pt;line-height:1.25"> </div> <div style="text-align:justify;line-height:1.25"> <div style="line-height:1.25">The total allowance for expected credit losses was $4,602 and $4,982 as of December 31, 2025 and 2024, respectively.</div> </div> </td> </tr> </table> </div> </div> 4602000 4982000 <div> <table border="0" cellpadding="0" cellspacing="0" style="font-family:'Times New Roman', Times, serif;font-size:10pt;color:#000000;width:100%"> <tr> <td style="width:56pt"> </td> <td style="width:22pt"><span style="font-weight:bold">H.</span></td> <td style="width:auto"><span style="font-weight:bold">Inventories</span></td> </tr> </table> <div style="line-height:1.25"> <table border="0" cellpadding="0" cellspacing="0" style="font-family:'Times New Roman', Times, serif;font-size:10pt;color:#000000;width:100%"> <tr> <td style="width:56pt"> <div> </div> </td> <td style="width:22pt"> </td> <td style="width:auto"> <div style="text-align:justify;line-height:1.25"> <div style="line-height:1.25">Inventories are stated at the lower of aggregate cost or net realizable value. If inventory costs exceed expected net realizable value, the Company writes down the difference between the cost and the expected net realizable value. Cost of raw materials is determined mainly on the basis of the weighted average moving price per unit. Work in progress is measured at cost including acquisition costs, processing costs and other costs incurred in bringing the inventories to their present stage.</div> </div> </td> </tr> </table> </div> </div> <div> <table border="0" cellpadding="0" cellspacing="0" style="font-family:'Times New Roman', Times, serif;font-size:10pt;color:#000000;width:100%"> <tr> <td style="width:56pt"> </td> <td style="width:22pt"><span style="font-weight:bold">I.</span></td> <td style="width:auto"> <div style="text-align:justify;line-height:1.25"><span style="font-weight:bold">Investments in Privately Held Companies</span></div> </td> </tr> </table> <div style="line-height:1.25"> <table border="0" cellpadding="0" cellspacing="0" style="font-family:'Times New Roman', Times, serif;font-size:10pt;color:#000000;width:100%"> <tr> <td style="width:56pt"> <div> </div> </td> <td style="width:22pt"> </td> <td style="width:auto"> <div style="text-align:justify;line-height:1.25"> <div style="line-height:1.25">Long-term investments include equity investments in privately-held companies without readily determinable fair values. In accordance with ASC 321 - <span style="font-style:italic">“Investments - Equity Securities”,</span> the Company may elect to measure those investments either at fair value, or at cost less any impairment and changes resulting from observable price changes in orderly transactions for the identical or similar investment of the same issuer (“Measurement Alternative”). The Company elected to use the Measurement Alternative for each of its investments. Any adjustments resulting from impairments and/or observable price changes are recorded under “other income (expense), net” in the consolidated statements of operations. See also Note 2L below.</div> </div> </td> </tr> </table> </div> </div> <div> <div style="line-height:1.25"> <div style="line-height:1.25"> <div style="line-height:1.25"> <div style="line-height:1.25"> <div style="line-height:1.25"> <div style="line-height:1.25"> <table border="0" cellpadding="0" cellspacing="0" style="font-family:'Times New Roman', Times, serif;font-size:10pt;color:#000000;width:100%"> <tr> <td style="width:56pt"> </td> <td style="width:22pt"><span style="font-weight:bold">J.</span></td> <td style="width:auto"> <div style="text-align:justify;line-height:1.25"><span style="font-weight:bold">Property and Equipment</span></div> </td> </tr> </table> <div style="line-height:1.25"> <table border="0" cellpadding="0" cellspacing="0" style="font-family:'Times New Roman', Times, serif;font-size:10pt;color:#000000;width:100%"> <tr> <td style="width:56pt"> <div> </div> </td> <td style="width:22pt"> </td> <td style="width:auto"> <div style="text-align:justify;line-height:1.25"> <div style="line-height:1.25">The Company accounts for property and equipment in accordance with Accounting Standards Codification ASC 360 “<span style="font-style:italic">Accounting for the Property, Plant and Equipment</span>”. Property and equipment are presented at cost, including capitalizable costs. Capitalizable costs include only costs that are identifiable with, and related to, the property and equipment, and are incurred prior to their initial operation. Identifiable incremental direct costs include costs associated with constructing, establishing, and installing facilities and equipment, as well as technology transfer.</div> </div> </td> </tr> </table> <div> </div> <div> <div style="line-height:1.25"> <table border="0" cellpadding="0" cellspacing="0" style="font-family:'Times New Roman', Times, serif;font-size:10pt;color:#000000;width:100%"> <tr> <td style="width:56pt"> <div> </div> </td> <td style="width:22pt"> </td> <td style="width:auto"> <div style="text-align:justify;line-height:1.25"> <div style="line-height:1.25"> <div style="line-height:1.25">Maintenance and repairs are charged to expenses as incurred.</div> </div> </div> </td> </tr> </table> <div style="line-height:1.25"> <table border="0" cellpadding="0" cellspacing="0" style="font-family:'Times New Roman', Times, serif;font-size:10pt;color:#000000;width:100%"> <tr> <td style="width:56pt"> <div> </div> </td> <td style="width:22pt"> </td> <td style="width:auto"> <div style="text-align:justify;line-height:1.25"> <div style="line-height:1.25"> <div style="line-height:1.25">Property and equipment are presented net of investment grants and government subsidies received and less accumulated depreciation.</div> </div> </div> </td> </tr> </table> <div style="line-height:1.25"> <table border="0" cellpadding="0" cellspacing="0" style="font-family:'Times New Roman', Times, serif;font-size:10pt;color:#000000;width:100%"> <tr> <td style="width:56pt"> <div> </div> </td> <td style="width:22pt"> </td> <td style="width:auto"> <div style="text-align:justify;line-height:1.25"> <div style="line-height:1.25"> <div style="line-height:1.25">Depreciation is calculated based on the straight-line method over the Company’s estimated useful lives of the assets, as follows:</div> </div> </div> </td> </tr> </table> <div style="line-height:1.25"> <table border="0" cellpadding="0" cellspacing="0" style="font-family:'Times New Roman', Times, serif;font-size:10pt;color:#000000;width:100%"> <tr> <td style="width:78pt"> <div> </div> </td> <td style="width:22pt">•</td> <td style="width:auto"> <div style="text-align:justify;line-height:1.25"> <div style="line-height:1.25"> <div style="line-height:1.25"> <div>Buildings and building improvements, including facility infrastructure: 7-25 years.</div> </div> </div> </div> </td> </tr> </table> <div style="line-height:1.25"> <table border="0" cellpadding="0" cellspacing="0" style="font-family:'Times New Roman', Times, serif;font-size:10pt;color:#000000;width:100%"> <tr> <td style="width:78pt"> <div> </div> </td> <td style="width:22pt">•</td> <td style="width:auto"> <div style="text-align:justify;line-height:1.25"> <div style="line-height:1.25"> <div style="line-height:1.25"> <div>Machinery and equipment: 15 years.</div> </div> </div> </div> </td> </tr> </table> <div style="line-height:1.25"> <table border="0" cellpadding="0" cellspacing="0" style="font-family:'Times New Roman', Times, serif;font-size:10pt;color:#000000;width:100%"> <tr> <td style="width:78pt"> <div> </div> </td> <td style="width:22pt">•</td> <td style="width:auto"> <div style="text-align:justify;line-height:1.25"> <div style="line-height:1.25"> <div style="line-height:1.25"> <div>Software, hardware and others: 3-11 years.</div> </div> </div> </div> </td> </tr> </table> </div> </div> </div> </div> </div> </div> </div> </div> </div> </div> </div> </div> </div> </div> <div style="line-height:1.25"> <div> <div style="line-height:1.25"> <div style="line-height:1.25"> <div style="line-height:1.25"> <table border="0" cellpadding="0" cellspacing="0" style="font-family:'Times New Roman', Times, serif;font-size:10pt;color:#000000;width:100%"> <tr> <td style="width:56pt"> </td> <td style="width:22pt"> </td> <td style="width:auto"> </td> </tr> <tr> <td style="width:56pt"> <div> </div> </td> <td style="width:22pt"> </td> <td style="width:auto"> <div style="text-align:justify;line-height:1.25"> <div style="line-height:1.25"> <div style="line-height:1.25"> <div style="line-height:1.25">Impairment charges, if needed, are determined based on the policy outlined in Note 2L below.</div> </div> </div> </div> </td> </tr> <tr> <td style="width:56pt"> </td> <td style="width:22pt"> </td> <td style="width:auto"> </td> </tr> </table> </div> </div> </div> </div> <div> <div style="line-height:1.25"> <div style="line-height:1.25"> <div style="line-height:1.25"> <table border="0" cellpadding="0" cellspacing="0" style="font-family:'Times New Roman', Times, serif;font-size:10pt;color:#000000;width:100%"> <tr> <td style="width:56pt"> <div> </div> </td> <td style="width:22pt"> </td> <td style="width:auto"> <div style="text-align:justify;line-height:1.25"> <div style="line-height:1.25"> <div style="line-height:1.25"> <div style="line-height:1.25">Property and equipment also include assets under capital leases, which are depreciated over their applicable useful life.</div> </div> </div> </div> </td> </tr> </table> </div> </div> </div> </div> </div> </div> P7Y P25Y P15Y P3Y P11Y <div> <table border="0" cellpadding="0" cellspacing="0" style="font-family:'Times New Roman', Times, serif;font-size:10pt;color:#000000;width:100%"> <tr> <td style="width:56pt"> </td> <td style="width:22pt"><span style="font-weight:bold">K.</span></td> <td style="width:auto"><span style="font-weight:bold">Intangible Assets and Goodwill</span></td> </tr> </table> <div style="line-height:1.25"> <table border="0" cellpadding="0" cellspacing="0" style="font-family:'Times New Roman', Times, serif;font-size:10pt;color:#000000;width:100%"> <tr> <td style="width:56pt"> <div> </div> </td> <td style="width:22pt"> </td> <td style="width:auto"> <div style="text-align:justify;line-height:1.25"> <div style="line-height:1.25"> <div style="line-height:1.25">The Company accounts for intangible assets and goodwill in accordance with ASC 350 “<span style="font-style:italic">Intangibles-Goodwill and Other</span>”. Intangible assets include the values assigned to the intangible assets as part of the purchase price allocation made at the time of acquisition. Intangible assets are amortized over the expected estimated economic life commonly used in the industry. Goodwill is not amortized and subject to impairment testing. Impairment charges on intangibles or goodwill, if needed, are determined based on the policy outlined in Note 2L below.</div> </div> </div> </td> </tr> </table> </div> </div> <div> <table border="0" cellpadding="0" cellspacing="0" style="font-family:'Times New Roman', Times, serif;font-size:10pt;color:#000000;width:100%"> <tr> <td style="width:56pt"> </td> <td style="width:22pt"><span style="font-weight:bold">L.</span></td> <td style="width:auto"> <div style="text-align:justify;line-height:1.25"> <div style="line-height:1.25"><span style="font-weight:bold">Impairment of Assets</span></div> </div> </td> </tr> </table> <div style="line-height:1.25"> <table border="0" cellpadding="0" cellspacing="0" style="font-family:'Times New Roman', Times, serif;font-size:10pt;color:#000000;width:100%"> <tr> <td style="width:56pt"> <div> </div> </td> <td style="width:22pt"> </td> <td style="width:auto"> <div style="text-align:justify;line-height:1.25"> <div style="line-height:1.25"> <div style="line-height:1.25;font-style:italic;font-weight:bold">Impairment of Property, Equipment and Intangible Assets</div> </div> </div> </td> </tr> </table> <div style="line-height:1.25"> <table border="0" cellpadding="0" cellspacing="0" style="font-family:'Times New Roman', Times, serif;font-size:10pt;color:#000000;width:100%"> <tr> <td style="width:56pt"> <div> </div> </td> <td style="width:22pt"> </td> <td style="width:auto"> <div style="text-align:justify;line-height:1.25"> <div style="line-height:1.25"> <div style="line-height:1.25">The Company reviews long-lived assets and intangible assets on a periodic basis, as well as when such review is required based upon relevant circumstances, to determine whether events or changes in circumstances indicate that the carrying amount of such assets may not be recoverable, considering the undiscounted cash flows expected from them. If applicable, the Company recognizes an impairment loss based upon the difference between the carrying amount and the fair value of such assets, in accordance with ASC 360-10 “<span style="font-style:italic">Property, Plant and Equipment</span>”. As of December 31, 2025, the Company concluded there was no impairment required to its long-lived assets and intangible assets.</div> </div> </div> </td> </tr> </table> <div style="line-height:1.25"> <table border="0" cellpadding="0" cellspacing="0" style="font-family:'Times New Roman', Times, serif;font-size:10pt;color:#000000;width:100%"> <tr> <td style="width:56pt"> <div> </div> </td> <td style="width:22pt"> </td> <td style="width:auto"> <div style="text-align:justify;line-height:1.25"> <div style="line-height:1.25"> <div style="line-height:1.25;font-style:italic;font-weight:bold">Impairment of Goodwill</div> </div> </div> </td> </tr> </table> <div style="line-height:1.25"> <table border="0" cellpadding="0" cellspacing="0" style="font-family:'Times New Roman', Times, serif;font-size:10pt;color:#000000;width:100%"> <tr> <td style="width:56pt"> <div> </div> </td> <td style="width:22pt"> </td> <td style="width:auto"> <div style="text-align:justify;line-height:1.25"> <div style="line-height:1.25"> <div style="line-height:1.25">The Company performs a qualitative analysis when testing goodwill for impairment. A qualitative goodwill impairment test is performed when the fair value of a reporting unit historically has significantly exceeded the carrying value of its net assets and based on current operations is expected to continue to exceed it. Otherwise, the Company is required to conduct a quantitative impairment test and estimate the fair value of the reporting unit using a combination of an income approach based on discounted cash flow analysis and a market approach based on market multiples. If the fair value of a reporting unit is less than its carrying value, a goodwill impairment charge is recorded for the difference. As of December 31, 2025, the Company performed a qualitative impairment test for its reporting unit and concluded there was no impairment of goodwill.</div> </div> </div> </td> </tr> </table> <div style="line-height:1.25"> <table border="0" cellpadding="0" cellspacing="0" style="font-family:'Times New Roman', Times, serif;font-size:10pt;color:#000000;width:100%"> <tr> <td style="width:56pt"> <div> </div> </td> <td style="width:22pt"> </td> <td style="width:auto"> <div style="text-align:justify;line-height:1.25"> <div style="line-height:1.25"> <div style="line-height:1.25;font-style:italic;font-weight:bold">Impairment of Investment in Privately Held Companies</div> </div> </div> </td> </tr> </table> <div style="line-height:1.25"> <table border="0" cellpadding="0" cellspacing="0" style="font-family:'Times New Roman', Times, serif;font-size:10pt;color:#000000;width:100%"> <tr> <td style="width:56pt"> <div> </div> </td> <td style="width:22pt"> </td> <td style="width:auto"> <div style="text-align:justify;line-height:1.25"> <div style="line-height:1.25"> <div style="line-height:1.25">Investments in privately held companies accounted for using the Measurement Alternative are subject to periodic impairment reviews. Based on ASC 321-10-35-3, the Company’s impairment analysis considers qualitative factors to evaluate whether the investment is impaired.</div> </div> </div> </td> </tr> </table> </div> </div> </div> </div> </div> </div> </div> <div> <table border="0" cellpadding="0" cellspacing="0" style="font-family:'Times New Roman', Times, serif;font-size:10pt;color:#000000;width:100%"> <tr> <td style="width:56pt"> </td> <td style="width:22pt"><span style="font-weight:bold">M.</span></td> <td style="width:auto"><span style="font-weight:bold">Leases</span></td> </tr> </table> <div style="line-height:1.25"> <table border="0" cellpadding="0" cellspacing="0" style="font-family:'Times New Roman', Times, serif;font-size:10pt;color:#000000;width:100%"> <tr> <td style="width:56pt"> <div> </div> </td> <td style="width:22pt"> </td> <td style="width:auto"> <div style="text-align:justify;line-height:1.25"> <div style="line-height:1.25"> <div style="line-height:1.25"> <div style="line-height:1.25">The Company recognizes a right-of-use asset (“ROU”) and lease liability for all operating and capital leases with a term greater than twelve months upon lease arrangement inception.</div> </div> </div> </div> </td> </tr> </table> <div> <div style="line-height:1.25"> <table border="0" cellpadding="0" cellspacing="0" style="font-family:'Times New Roman', Times, serif;font-size:10pt;color:#000000;width:100%"> <tr> <td style="width:56pt"> <div> </div> </td> <td style="width:22pt"> </td> <td style="width:auto"> <div style="text-align:justify;line-height:1.25"> <div style="line-height:1.25"> <div style="line-height:1.25"> <div style="line-height:1.25">ROU assets represent the Company’s right to use an underlying asset for the lease term and lease liabilities represent the Company’s obligation to make lease payments arising from the terms of lease contracts. ROU assets and lease liabilities are recognized at the lease commencement date based on the present value of lease payments over the lease term. Since most of the Company’s leases do not provide an implicit rate, the Company's incremental borrowing rate is used based on the information available at the commencement date in determining the present value of lease payments. The lease terms used to calculate the ROU asset and related lease liability include options to terminate the lease or extend it when it is reasonably certain that the Company will exercise that option. Lease expense for operating leases is recognized on a straight-line basis over the lease term as an operating expense. For additional information, see Notes 9D and 9E.</div> </div> </div> </div> </td> </tr> </table> </div> </div> </div> </div> <div> <table border="0" cellpadding="0" cellspacing="0" style="font-family:'Times New Roman', Times, serif;font-size:10pt;color:#000000;width:100%"> <tr> <td style="width:56pt"> </td> <td style="width:22pt"><span style="font-weight:bold">N.</span></td> <td style="width:auto"> <div style="text-align:justify;line-height:1.25"> <div style="line-height:1.25"> <div style="line-height:1.25"><span style="font-weight:bold">Revenue Recognition</span></div> </div> </div> </td> </tr> </table> <div> <div style="line-height:1.25"> <table border="0" cellpadding="0" cellspacing="0" style="font-family:'Times New Roman', Times, serif;font-size:10pt;color:#000000;width:100%"> <tr> <td style="width:56pt"> <div> </div> </td> <td style="width:22pt"> </td> <td style="width:auto"> <div style="text-align:justify;line-height:1.25"> <div style="line-height:1.25"> <div style="line-height:1.25"> <div style="line-height:1.25">The Company recognizes revenue in accordance with ASC 606 “<span style="font-style:italic">Revenue from Contracts with Customers</span>” when it transfers the control of promised goods or services to customers in an amount that reflects the consideration the Company expects to be entitled to in exchange for those goods or services.</div> </div> </div> </div> </td> </tr> </table> <div> <div style="line-height:1.25"> <table border="0" cellpadding="0" cellspacing="0" style="font-family:'Times New Roman', Times, serif;font-size:10pt;color:#000000;width:100%"> <tr> <td style="width:56pt"> <div> </div> </td> <td style="width:22pt"> </td> <td style="width:auto"> <div style="text-align:justify;line-height:1.25"> <div style="line-height:1.25"> <div style="line-height:1.25"> <div style="line-height:1.25">The Company’s revenue is generated principally from providing its customers with manufacturing services it performs over wafers it processes in its various fabrications located around the globe through its engineering and technological facilities’ process platforms and equipment, as well as revenue from its design and technology support services. Most of the Company’s sales are achieved through the effort of its direct sales and business development force.</div> </div> </div> </div> </td> </tr> </table> <div> <div style="line-height:1.25"> <table border="0" cellpadding="0" cellspacing="0" style="font-family:'Times New Roman', Times, serif;font-size:10pt;color:#000000;width:100%"> <tr> <td style="width:56pt"> <div> </div> </td> <td style="width:22pt"> </td> <td style="width:auto"> <div style="text-align:justify;line-height:1.25"> <div style="line-height:1.25"> <div style="line-height:1.25"> <div style="line-height:1.25">Wafer sales typically contain a single performance obligation that is fulfilled on the date of delivery and recognized at a point in time, which is upon shipment of the Company’s products to unaffiliated customers, depending on shipping terms stipulated in the contract. Accordingly, control of the products transfers to the customer in accordance with the transaction's shipping terms. Taxes imposed by governmental authorities, such as sales taxes or value-added taxes, are excluded from net sales.</div> </div> </div> </div> </td> </tr> </table> <div> <div style="line-height:1.25"> <div style="line-height:1.25"> <div style="line-height:1.25"> <div style="line-height:1.25"> <div> <div style="line-height:1.25"> <div style="line-height:1.25"> <div> <div style="line-height:1.25"> <div> <div style="line-height:1.25"> <div> <div style="line-height:1.25"> <div> <div style="line-height:1.25"> <div> <div style="line-height:1.25"> <table border="0" cellpadding="0" cellspacing="0" style="font-family:'Times New Roman', Times, serif;font-size:10pt;color:#000000;width:100%"> <tr> <td style="width:56pt"> <div> </div> </td> <td style="width:22pt"> </td> <td style="width:auto"> <div style="text-align:justify;line-height:1.25"> <div style="line-height:1.25"> <div style="line-height:1.25"> <div style="line-height:1.25"> <div style="line-height:1.25">The Company provides for sales returns allowance relating to specified yield or quality commitments as a reduction of revenue, based on past experience and specific identification of relevant events, which has been in immaterial amounts.</div> </div> </div> </div> </div> </td> </tr> </table> <div> </div> </div> </div> </div> </div> </div> </div> </div> </div> </div> </div> </div> </div> </div> </div> </div> </div> </div> <div style="line-height:1.25"> <div style="line-height:1.25"> <div style="line-height:1.25"> <div style="line-height:1.25"> <div style="line-height:1.25"> <div> <div style="line-height:1.25"> <div style="line-height:1.25"> <div> <div style="line-height:1.25"> <div> <div style="line-height:1.25"> <div> <div style="line-height:1.25"> <div> <div style="line-height:1.25"> <div> <div style="line-height:1.25"> <table border="0" cellpadding="0" cellspacing="0" style="font-family:'Times New Roman', Times, serif;font-size:10pt;color:#000000;width:100%"> <tr> <td style="width:56pt"> <div> </div> </td> <td style="width:22pt"> </td> <td style="width:auto"> <div style="text-align:justify;line-height:1.25"> <div style="line-height:1.25"> <div style="line-height:1.25"> <div style="line-height:1.25"> <div style="line-height:1.25">The Company provides its customers with other services that are less significant in scope and amount and for which recognition occurs over time when customers receive the services.</div> </div> </div> </div> </div> </td> </tr> </table> </div> </div> </div> </div> </div> </div> </div> </div> </div> </div> </div> </div> </div> </div> </div> </div> </div> </div> </div> </div> </div> </div> </div> </div> </div> </div> <div> <table border="0" cellpadding="0" cellspacing="0" style="font-family:'Times New Roman', Times, serif;font-size:10pt;color:#000000;width:100%"> <tr> <td style="width:56pt"> </td> <td style="width:22pt"><span style="font-weight:bold">O.</span></td> <td style="width:auto"><span style="font-weight:bold">Research and Development</span></td> </tr> </table> <div style="line-height:1.25"> <table border="0" cellpadding="0" cellspacing="0" style="font-family:'Times New Roman', Times, serif;font-size:10pt;color:#000000;width:100%"> <tr> <td style="width:56pt"> <div> </div> </td> <td style="width:22pt"> </td> <td style="width:auto"> <div style="text-align:justify;line-height:1.25"> <div style="line-height:1.25"> <div style="line-height:1.25"> <div style="line-height:1.25"> <div style="line-height:1.25">Research and development costs are charged to operations as incurred. Amounts received or receivable from the government of Israel and others, such as participation in research and development programs, are offset from research and development costs. The accrual for grants receivable is determined based on the terms of the programs, provided that the criteria for entitlement have been met. As of December 31, 2025, the grants receivable amount was immaterial.</div> </div> </div> </div> </div> </td> </tr> </table> </div> </div> <div> <table border="0" cellpadding="0" cellspacing="0" style="font-family:'Times New Roman', Times, serif;font-size:10pt;color:#000000;width:100%"> <tr> <td style="width:56pt"> </td> <td style="width:22pt"><span style="font-weight:bold">P.</span></td> <td style="width:auto"> <div style="text-align:justify;line-height:1.25"> <div style="line-height:1.25"> <div style="line-height:1.25"> <div style="line-height:1.25"><span style="font-weight:bold">Income Taxes</span></div> </div> </div> </div> </td> </tr> </table> <div> <div style="line-height:1.25"> <table border="0" cellpadding="0" cellspacing="0" style="font-family:'Times New Roman', Times, serif;font-size:10pt;color:#000000;width:100%"> <tr> <td style="width:56pt"> <div> </div> </td> <td style="width:22pt"> </td> <td style="width:auto"> <div style="text-align:justify;line-height:1.25"> <div style="line-height:1.25"> <div style="line-height:1.25"> <div style="line-height:1.25"> <div style="line-height:1.25">The Company accounts for income taxes using an asset and liability approach as prescribed in ASC 740-10 <span style="font-style:italic">“Income Taxes”.</span> This topic prescribes the use of the liability method whereby deferred tax asset and liability balances are determined based on differences between financial reporting and tax bases of assets and liabilities. Deferred taxes are measured using the enacted tax rates under applicable law expected to be in effect for the year in which the differences are expected to reverse as of the balance sheet date. Deferred tax assets and liabilities, as well as any related valuation allowance, are presented as noncurrent items on the balance sheets.</div> </div> </div> </div> </div> </td> </tr> </table> <div> <div style="line-height:1.25"> <table border="0" cellpadding="0" cellspacing="0" style="font-family:'Times New Roman', Times, serif;font-size:10pt;color:#000000;width:100%"> <tr> <td style="width:56pt"> <div> </div> </td> <td style="width:22pt"> </td> <td style="width:auto"> <div style="text-align:justify;line-height:1.25"> <div style="line-height:1.25"> <div style="line-height:1.25"> <div style="line-height:1.25"> <div style="line-height:1.25">The Company evaluates the potential realization of its deferred tax assets for each jurisdiction in which the Company operates at each reporting date and establishes valuation allowances when it is more likely than not that all or a part of its deferred tax assets will not be realized. The ultimate realization of deferred tax assets is dependent upon the generation of future taxable income of the same character and in the same jurisdiction. The Company considers all available positive and negative evidence in making this assessment, including, but not limited to, the scheduled reversal of deferred tax liabilities and deferred tax assets and projected future taxable income.</div> </div> </div> </div> </div> </td> </tr> </table> <div> <div style="line-height:1.25"> <table border="0" cellpadding="0" cellspacing="0" style="font-family:'Times New Roman', Times, serif;font-size:10pt;color:#000000;width:100%"> <tr> <td style="width:56pt"> <div> </div> </td> <td style="width:22pt"> </td> <td style="width:auto"> <div style="text-align:justify;line-height:1.25"> <div style="line-height:1.25"> <div style="line-height:1.25"> <div style="line-height:1.25"> <div style="line-height:1.25">A valuation allowance is established, when necessary, to reduce deferred tax assets to the amount that is more likely than not to be realized based on all available evidence.</div> </div> </div> </div> </div> </td> </tr> </table> <div> <div style="line-height:1.25"> <table border="0" cellpadding="0" cellspacing="0" style="font-family:'Times New Roman', Times, serif;font-size:10pt;color:#000000;width:100%"> <tr> <td style="width:56pt"> <div> </div> </td> <td style="width:22pt"> </td> <td style="width:auto"> <div style="text-align:justify;line-height:1.25"> <div style="line-height:1.25"> <div style="line-height:1.25"> <div style="line-height:1.25"> <div style="line-height:1.25">ASC 740-10 prescribes a two-step approach for recognizing and measuring uncertain tax positions. The first step is to evaluate tax positions taken or expected to be taken in a tax return by assessing whether they are more-likely-than-not sustainable, based solely on their technical merits including resolution of any related appeals or litigation process. The second step is to measure the associated tax benefit of each position as the largest amount that the Company believes is more-likely-than-not realizable. Differences between the amount of tax benefits taken or expected to be taken in its income tax returns and the amount of tax benefits recognized in its financial statements, represent the Company's unrecognized income tax benefits. The Company's policy is to include interest and penalties related to unrecognized income tax benefits as a component of income tax expense.</div> </div> </div> </div> </div> </td> </tr> </table> </div> </div> </div> </div> </div> </div> </div> </div> </div> <div> <table border="0" cellpadding="0" cellspacing="0" style="font-family:'Times New Roman', Times, serif;font-size:10pt;color:#000000;width:100%"> <tr> <td style="width:56pt"> </td> <td style="width:22pt"><span style="font-weight:bold">Q.</span></td> <td style="width:auto"><span style="font-weight:bold">Earnings per Ordinary Share</span></td> </tr> </table> <div style="line-height:1.25"> <table border="0" cellpadding="0" cellspacing="0" style="font-family:'Times New Roman', Times, serif;font-size:10pt;color:#000000;width:100%"> <tr> <td style="width:56pt"> <div> </div> </td> <td style="width:22pt"> </td> <td style="width:auto"> <div style="text-align:justify;line-height:1.25">Basic earnings per share is calculated in accordance with ASC 260, “Earnings Per Share” by dividing net profit or loss attributable to ordinary equity holders of Tower (the numerator) by the weighted average number of ordinary shares outstanding during the reported period (the denominator). Diluted earnings per share is calculated, if applicable, by adjusting the net profit attributable to ordinary equity holders of Tower, and the weighted average number of ordinary shares, taking into effect all potential dilutive ordinary shares.</div> </td> </tr> </table> </div> </div> <div> <table border="0" cellpadding="0" cellspacing="0" style="font-family:'Times New Roman', Times, serif;font-size:10pt;color:#000000;width:100%"> <tr> <td style="width:56pt"> </td> <td style="width:22pt"><span style="font-weight:bold">R.</span></td> <td style="width:auto"><span style="font-weight:bold">Comprehensive Income</span></td> </tr> </table> <div style="line-height:1.25"> <table border="0" cellpadding="0" cellspacing="0" style="font-family:'Times New Roman', Times, serif;font-size:10pt;color:#000000;width:100%"> <tr> <td style="width:56pt"> <div> </div> </td> <td style="width:22pt"> </td> <td style="width:auto"> <div style="text-align:justify;line-height:1.25">In accordance with ASC 220 “<span style="font-style:italic">Comprehensive Income</span>”, comprehensive income represents the change in shareholders’ equity during a reporting period from transactions and other events and circumstances from non-owner sources. It includes all changes in equity during a reporting period except those resulting from investments by owners and distributions to owners. Other comprehensive income (“OCI”) represents gains and losses that are included in comprehensive income but excluded from net profit.</div> </td> </tr> </table> </div> </div> <div> <table border="0" cellpadding="0" cellspacing="0" style="font-family:'Times New Roman', Times, serif;font-size:10pt;color:#000000;width:100%"> <tr> <td style="width:56pt"> </td> <td style="width:22pt"><span style="font-weight:bold">S.</span></td> <td style="width:auto"><span style="font-weight:bold">Functional Currency and Exchange Rate Results</span></td> </tr> </table> <div style="line-height:1.25"> <table border="0" cellpadding="0" cellspacing="0" style="font-family:'Times New Roman', Times, serif;font-size:10pt;color:#000000;width:100%"> <tr> <td style="width:56pt"> <div> </div> </td> <td style="width:22pt"> </td> <td style="width:auto"> <div style="text-align:justify;line-height:1.25">The currency of the primary economic environment in which Tower, TSSA, TSNB and TSIT conduct their operations is the U.S. Dollar (“dollar”). Thus, the dollar is their functional and reporting currency. Accordingly, monetary accounts maintained in currencies other than the dollar are re-measured into dollars in accordance with ASC 830-10 “Foreign Currency Matters”. All transaction gains and losses from the re-measurement of monetary balance sheet items are reflected in the statements of operations as financial income or expenses, as appropriate. The financial statements of TPSCo, whose functional currency is the Japanese Yen (“JPY”), have been translated into dollars. The assets and liabilities have been translated using the exchange rate in effect as of the balance sheet date. The statements of operations of TPSCo have been translated using the average exchange rate for the reported period. The resulting translation adjustments are charged or credited to OCI.</div> </td> </tr> </table> </div> </div> <div> <table border="0" cellpadding="0" cellspacing="0" style="font-family:'Times New Roman', Times, serif;font-size:10pt;color:#000000;width:100%"> <tr> <td style="width:56pt"> </td> <td style="width:22pt"><span style="font-weight:bold">T.</span></td> <td style="width:auto"><span style="font-weight:bold">Stock-based Compensation</span></td> </tr> </table> <div style="line-height:1.25"> <table border="0" cellpadding="0" cellspacing="0" style="font-family:'Times New Roman', Times, serif;font-size:10pt;color:#000000;width:100%"> <tr> <td style="width:56pt"> <div> </div> </td> <td style="width:22pt"> </td> <td style="width:auto"> <div style="text-align:justify;line-height:1.25">The Company applies the provisions of ASC Topic 718 “<span style="font-style:italic">Compensation - Stock Compensation</span>”, under which employees’ share-based equity awards (mostly restricted stock units and performance unit shares) are recognized based on the grant-date fair values.</div> </td> </tr> </table> <div> <div style="line-height:1.25"> <table border="0" cellpadding="0" cellspacing="0" style="font-family:'Times New Roman', Times, serif;font-size:10pt;color:#000000;width:100%"> <tr> <td style="width:56pt"> <div> </div> </td> <td style="width:22pt"> </td> <td style="width:auto"> <div style="text-align:justify;line-height:1.25"> <div style="line-height:1.25">The compensation costs are recognized using the graded vesting attribution method based on the vesting terms of each unit included in the award resulting in an accelerated recognition of compensation costs.</div> </div> </td> </tr> </table> </div> </div> </div> </div> <div> <table border="0" cellpadding="0" cellspacing="0" style="font-family:'Times New Roman', Times, serif;font-size:10pt;color:#000000;width:100%"> <tr> <td style="width:56pt"> </td> <td style="width:22pt"><span style="font-weight:bold">U.</span></td> <td style="width:auto"><span style="font-weight:bold">Fair Value Measurements of Financial Instruments</span></td> </tr> </table> <div style="line-height:1.25"> <table border="0" cellpadding="0" cellspacing="0" style="font-family:'Times New Roman', Times, serif;font-size:10pt;color:#000000;width:100%"> <tr> <td style="width:56pt"> <div> </div> </td> <td style="width:22pt"> </td> <td style="width:auto"> <div style="text-align:justify;line-height:1.25"> <div style="line-height:1.25"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">ASC 820, "<em>Fair Value Measurements and Disclosures</em>" (“<em>ASC 820</em>”), requires an entity to maximize the use of observable inputs and minimize the use of unobservable inputs when measuring fair value. ASC 820 establishes a fair value hierarchy based on the level of independent, objective evidence surrounding the inputs used to measure fair value. A financial instrument's categorization within the fair value hierarchy is based upon the lowest level of input that is significant to the fair value measurement.</span></span></div> </div> </td> </tr> </table> <div> <div style="line-height:1.25"> <table border="0" cellpadding="0" cellspacing="0" style="font-family:'Times New Roman', Times, serif;font-size:10pt;color:#000000;width:100%"> <tr> <td style="width:56pt"> <div> </div> </td> <td style="width:22pt"> </td> <td style="width:auto"> <div style="text-align:justify;line-height:1.25"> <div style="line-height:1.25">ASC 820 prioritizes the considerations that may be used to measure fair value to the following three levels:</div> </div> </td> </tr> </table> <div> <div style="line-height:1.25"> <table border="0" cellpadding="0" cellspacing="0" style="font-family:'Times New Roman', Times, serif;font-size:10pt;color:#000000;width:100%"> <tr> <td style="width:56pt"> <div> </div> </td> <td style="width:22pt"> </td> <td style="font-weight:bold;font-style:italic;width:auto"> <div style="text-align:justify;line-height:1.25">Level 1</div> </td> </tr> </table> <div> <div style="line-height:1.25"> <table border="0" cellpadding="0" cellspacing="0" style="font-family:'Times New Roman', Times, serif;font-size:10pt;color:#000000;width:100%"> <tr> <td style="width:56pt"> <div> </div> </td> <td style="width:22pt"> </td> <td style="width:auto"> <div style="text-align:justify;line-height:1.25"> <div style="line-height:1.25">Level 1 applies to assets or liabilities for which there are quoted prices in active markets for identical assets or liabilities.</div> </div> </td> </tr> </table> <div> <div style="line-height:1.25"> <table border="0" cellpadding="0" cellspacing="0" style="font-family:'Times New Roman', Times, serif;font-size:10pt;color:#000000;width:100%"> <tr> <td style="width:56pt"> <div> </div> </td> <td style="width:22pt"> </td> <td style="width:auto"> <div style="text-align:justify;line-height:1.25;font-weight:bold;font-style:italic">Level 2</div> </td> </tr> </table> <div> <div style="line-height:1.25"> <table border="0" cellpadding="0" cellspacing="0" style="font-family:'Times New Roman', Times, serif;font-size:10pt;color:#000000;width:100%"> <tr> <td style="width:56pt"> <div> </div> </td> <td style="width:22pt"> </td> <td style="width:auto"> <div style="text-align:justify;line-height:1.25"> <div style="line-height:1.25">Level 2 applies to assets or liabilities for which there are inputs other than quoted prices that are observable for the asset or liability such as quoted prices for similar assets or liabilities in active markets; quoted prices for identical assets or liabilities in markets with insufficient volume or infrequent transactions (less active markets); or model-derived valuations in which significant inputs are observable or can be derived principally from, or corroborated by, observable market data.</div> </div> </td> </tr> </table> <div> <div style="line-height:1.25"> <table border="0" cellpadding="0" cellspacing="0" style="font-family:'Times New Roman', Times, serif;font-size:10pt;color:#000000;width:100%"> <tr> <td style="width:56pt"> <div> </div> </td> <td style="width:22pt"> </td> <td style="font-weight:bold;font-style:italic;width:auto"> <div style="text-align:justify;line-height:1.25">Level 3</div> </td> </tr> </table> <div> <div style="line-height:1.25"> <table border="0" cellpadding="0" cellspacing="0" style="font-family:'Times New Roman', Times, serif;font-size:10pt;color:#000000;width:100%"> <tr> <td style="width:56pt"> <div> </div> </td> <td style="width:22pt"> </td> <td style="width:auto"> <div style="text-align:justify;line-height:1.25"> <div style="line-height:1.25">Level 3 applies to assets or liabilities for which there are unobservable inputs to the valuation methodology that are significant to the measurement of the fair value of the assets or liabilities.</div> </div> </td> </tr> </table> <div> <div style="line-height:1.25"> <table border="0" cellpadding="0" cellspacing="0" style="font-family:'Times New Roman', Times, serif;font-size:10pt;color:#000000;width:100%"> <tr> <td style="width:56pt"> <div> </div> </td> <td style="width:22pt"> </td> <td style="width:auto"> <div style="text-align:justify;line-height:1.25"> <div style="line-height:1.25">The carrying value of the Company’s bank deposits, accounts receivable, payable and accrued liabilities, approximate their current fair values in accordance with their nature and respective maturity dates or durations. The Company had no financial assets or liabilities carried and measured on a non-recurring basis during the reporting periods. Financial assets and liabilities measured on a recurring basis are those that are adjusted to fair value each time a financial statement is prepared such as marketable securities and investments in privately-held companies.</div> </div> </td> </tr> </table> </div> </div> </div> </div> </div> </div> </div> </div> </div> </div> </div> </div> </div> </div> </div> </div> </div> </div> <div> <div style="text-align:justify;line-height:1.25"> <div style="line-height:1.25"> <div> <div style="line-height:1.25"> <table border="0" cellpadding="0" cellspacing="0" style="font-family:'Times New Roman', Times, serif;font-size:10pt;color:#000000;width:100%"> <tr> <td style="width:56pt"> </td> <td style="font-weight:bold;width:22pt">V.</td> <td style="font-weight:bold;width:auto">Derivatives and Hedging</td> </tr> </table> <div style="line-height:1.25"> <table border="0" cellpadding="0" cellspacing="0" style="font-family:'Times New Roman', Times, serif;font-size:10pt;color:#000000;width:100%"> <tr> <td style="width:56pt"> <div> </div> </td> <td style="width:22pt"> </td> <td style="width:auto"> <div style="text-align:justify;line-height:1.25"> <div style="line-height:1.25"> <div style="line-height:1.25">In accordance with ASC Topic 815, Derivative and Hedging ("ASC 815"), the Company recognizes all its derivative instruments as either assets or liabilities and carries them at fair value.</div> </div> </div> </td> </tr> </table> <div> </div> </div> </div> </div> </div> </div> <div style="line-height:1.25"> <div style="line-height:1.25"> <table border="0" cellpadding="0" cellspacing="0" style="font-family:'Times New Roman', Times, serif;font-size:10pt;color:#000000;width:100%"> <tr> <td style="width:56pt"> <div> </div> </td> <td style="width:22pt"> </td> <td style="width:auto"> <div style="text-align:justify;line-height:1.25"> <div style="line-height:1.25"> <div style="line-height:1.25">For derivative instruments that are designated and qualify as cash flow hedges, the derivative's gain or loss is initially reported as a component of OCI and is subsequently recorded into earnings when the hedged exposure affects earnings, in the same line item as the underlying hedged item on the consolidated statements of earnings.</div> </div> </div> </td> </tr> </table> <div> <div style="line-height:1.25"> <table border="0" cellpadding="0" cellspacing="0" style="font-family:'Times New Roman', Times, serif;font-size:10pt;color:#000000;width:100%"> <tr> <td style="width:56pt"> <div> </div> </td> <td style="width:22pt"> </td> <td style="width:auto"> <div style="text-align:justify;line-height:1.25"> <div style="line-height:1.25"> <div style="line-height:1.25">Cash flow hedges related to anticipated transactions are designated and documented at the inception of each hedge. Cash flows from hedging transactions are presented in the same categories as the cash flows from the respective hedged items.</div> </div> </div> </td> </tr> </table> </div> </div> </div> </div> </div> <div> <table border="0" cellpadding="0" cellspacing="0" style="font-family:'Times New Roman', Times, serif;font-size:10pt;color:#000000;width:100%"> <tr> <td style="width:56pt"> <div> </div> </td> <td style="font-weight:bold;width:22pt">W</td> <td style="font-weight:bold;width:auto"> <div style="text-align:justify;line-height:1.25"> <div style="line-height:1.25">Recently Adopted Accounting Pronouncements</div> </div> </td> </tr> </table> <div> <div style="line-height:1.25"> <table border="0" cellpadding="0" cellspacing="0" style="font-family:'Times New Roman', Times, serif;font-size:10pt;color:#000000;width:100%"> <tr> <td style="width:56pt"> <div> </div> </td> <td style="width:22pt"> </td> <td style="width:auto"> <div style="text-align:justify;line-height:1.25"> <div style="line-height:1.25"> <div style="line-height:1.25">In November 2023, the Financial Accounting Standards Board (“FASB”) issued ASU No. 2023-07, Segment Reporting (Topic 280): Improvements to Reportable Segment Disclosures, which requires public entities to disclose information about their reportable segments’ significant expenses and other segment items on an interim and annual basis. Public entities with a single reportable segment are required to apply the disclosure requirements in ASU No. 2023-07, as well as all existing segment disclosures and reconciliation requirements in ASC 280 on an interim and annual basis. The new standard is effective for fiscal years beginning after December 15, 2023, and interim periods within fiscal years beginning after December 15, 2024. The adoption of this ASU did not have any impact on the Company’s financial position, results of operations or cash flow reports. See Note 14E with regards to applicable disclosure.</div> </div> </div> </td> </tr> </table> <div> <div style="line-height:1.25"> <table border="0" cellpadding="0" cellspacing="0" style="font-family:'Times New Roman', Times, serif;font-size:10pt;color:#000000;width:100%"> <tr> <td style="width:56pt"> <div> </div> </td> <td style="width:22pt"> </td> <td style="width:auto"> <div style="text-align:justify;line-height:1.25"> <div style="line-height:1.25"> <div style="line-height:1.25">On December 23, 2023, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update (“ASU”) No.<span style="font-weight:bold"> </span>2023-09 -<span style="font-weight:bold"> </span>Income<span style="font-weight:bold"> </span>taxes (topic 740): improvements to income tax disclosures. This ASU requires disclosure of specific categories in rate reconciliation and additional information for reconciling items that meet a quantitative threshold. The amendment also includes other changes to improve the effectiveness of income tax disclosures, including further disaggregation of income taxes paid for individually significant jurisdictions. The amendment is effective for annual periods beginning after December 15, 2024. The adoption of the amendment did not have an impact on the Company’s financial position, results of operations or cash flows. See Note 17 with regards to applicable disclosure.</div> </div> </div> </td> </tr> </table> </div> </div> </div> </div> </div> <div> <table border="0" cellpadding="0" cellspacing="0" style="font-family:'Times New Roman', Times, serif;font-size:10pt;color:#000000;width:100%"> <tr> <td style="width:56pt"> </td> <td style="font-weight:bold;width:22pt">X.</td> <td style="font-weight:bold;width:auto">Recently Issued Accounting Pronouncements Not Yet Adopted</td> </tr> </table> <div style="line-height:1.25"> <div> <div style="line-height:1.25"> <table border="0" cellpadding="0" cellspacing="0" style="font-family:'Times New Roman', Times, serif;font-size:10pt;color:#000000;width:100%"> <tr> <td style="width:56pt"> <div> </div> </td> <td style="font-weight:bold;width:22pt"> </td> <td style="font-weight:bold;width:auto"> <div style="text-align:justify;line-height:1.25;font-weight:normal">In November 2024, the FASB issued ASU 2024-03, Income Statement – Reporting Comprehensive Income – Expense Disaggregation Disclosures (Subtopic 220-40): Disaggregation of Income Statement Expenses. ASU 2024-03 requires disclosure of specified information about certain costs and expenses on an interim and annual basis in the notes to the financial statements. The guidance is effective for fiscal years beginning after December 15, 2026, and interim reporting periods beginning after December 15, 2027. The Company does not expect the new standard to have a material impact on its consolidated financial statements.</div> <div style="line-height:1.25;font-weight:normal"> </div> <div style="text-align:justify;line-height:1.25;font-weight:normal">In July 2025, the FASB issued ASU No. 2025-05, Financial Instruments-Credit Losses (Topic 326): Measurement of Credit Losses for Accounts Receivable and Contract Assets (“ASU 2025-05”), which provides a practical expedient to measure credit losses on current accounts receivable and current contract assets under ASC 606, Revenue from Contracts with Customers. The practical expedient assumes that current conditions as of the balance sheet date do not change for the remaining life of the asset. The ASU 2025-05 is effective for annual reporting period beginning after December 15, 2025 and interim reporting within those annual reporting periods. The new standard is not expected to have a material impact on the Company’s consolidated financial statements.</div> <div style="line-height:1.25;font-weight:normal"> </div> <div style="text-align:justify;line-height:1.25;font-weight:normal">In November 2025, the FASB issued ASU No. 2025-09, Hedge Accounting Improvements (Topic 815), which amends certain aspects of the hedge accounting guidance in ASC 815, to more closely align hedge accounting with the economics of an entity’s risk management activities. The ASU is effective for annual periods beginning after December 15, 2026 and interim reporting within those annual reporting periods. The ASU is not expected to have a material impact on the Company’s consolidated financial statements.</div> <div style="line-height:1.25;font-weight:normal"> </div> <div style="text-align:justify;line-height:1.25"><span style="font-weight:normal">In December 2025, the FASB issued ASU No. 2025-10, Government Grants (Topic 832): Accounting for Government Grants Received by Business Entities, which adds guidance to ASC 832 on the recognition, measurement, and presentation of government grants. The ASU requires entities to recognize government grant income when all eligibility criteria have been met and the related costs have been incurred, clarifying the timing and presentation of such grants within the financial statements. The ASU is effective for annual periods beginning after December 15, 2028 and interim reporting within those annual reporting periods. The company is still evaluating the potential impact of the new standard on its financial statements.</span></div> </td> </tr> </table> </div> </div> </div> </div> <div> <div style="line-height:1.25"> <div style="line-height:1.25"> <div style="line-height:1.25"> <div style="line-height:1.25"> <div style="line-height:1.25"> <table border="0" cellpadding="0" cellspacing="0" style="font-family:'Times New Roman', Times, serif;font-size:10pt;color:#000000;width:100%"> <tr> <td style="width:56pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span style="font-weight:bold">NOTE 3:</span></span></span></td> <td style="width:auto"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span style="font-weight:bold">INVENTORIES</span></span></span></td> </tr> </table> <div> <div style="line-height:1.25"> <div style="line-height:1.25"> <div style="line-height:1.25"> <div style="line-height:1.25"> <div style="line-height:1.25"> <table border="0" cellpadding="0" cellspacing="0" style="font-family:'Times New Roman', Times, serif;font-size:10pt;color:#000000;width:100%"> <tr> <td style="width:56pt"> </td> <td style="width:auto"> <div style="text-align:justify;line-height:1.25"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">Inventories consist of the following as of December 31, 2025 and 2024:</span></span></div> </td> </tr> </table> <div> </div> </div> </div> </div> </div> </div> </div> </div> </div> </div> </div> </div> <div style="margin-left:72pt"> <table border="0" cellpadding="0" cellspacing="0" style="width:85%;color:rgb(0, 0, 0);font-family:Times New Roman, Times, serif;font-size:10pt;text-align:left"> <tr> <td style="vertical-align:middle;padding-bottom:2px;vertical-align:bottom"> <div style="text-align:justify;line-height:1.25"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>Details</span></span></span></span></div> </td> <td colspan="1" style="vertical-align:bottom;padding-bottom:2px;vertical-align:bottom"> </td> <td colspan="2" style="vertical-align:middle;border-bottom:#000000 solid 2px;vertical-align:bottom"> <div style="text-align:center;line-height:1.25"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>2025</span></span></span></span></div> </td> <td colspan="1" style="vertical-align:bottom;padding-bottom:2px;vertical-align:bottom;white-space:nowrap"> </td> <td colspan="1" style="vertical-align:bottom;padding-bottom:2px;vertical-align:bottom"> </td> <td colspan="2" style="vertical-align:middle;border-bottom:#000000 solid 2px;vertical-align:bottom"> <div style="text-align:center;line-height:1.25"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>2024</span></span></span></span></div> </td> <td colspan="1" style="vertical-align:bottom;padding-bottom:2px;vertical-align:bottom;white-space:nowrap"> </td> </tr> <tr> <td style="vertical-align:top;width:76%;background-color:rgb(204, 238, 255);vertical-align:bottom"> <div style="text-align:justify;line-height:1.25"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>Raw materials</span></span></span></span></div> </td> <td colspan="1" style="vertical-align:bottom;width:1%;background-color:rgb(204, 238, 255);vertical-align:bottom"> </td> <td colspan="1" style="vertical-align:bottom;width:1%;background-color:rgb(204, 238, 255);vertical-align:bottom"> <div style="line-height:1.25"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>$</span></span></span></span></div> </td> <td colspan="1" style="vertical-align:bottom;text-align:right;width:9%;background-color:rgb(204, 238, 255);vertical-align:bottom"> <div style="line-height:1.25"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">105,301</span></span></div> </td> <td colspan="1" style="vertical-align:bottom;width:1%;background-color:rgb(204, 238, 255);vertical-align:bottom;white-space:nowrap"> </td> <td colspan="1" style="vertical-align:bottom;width:1%;background-color:rgb(204, 238, 255);vertical-align:bottom"> </td> <td colspan="1" style="vertical-align:bottom;width:1%;background-color:rgb(204, 238, 255);vertical-align:bottom"> <div style="line-height:1.25"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>$</span></span></span></span></div> </td> <td colspan="1" style="vertical-align:bottom;text-align:right;width:9%;background-color:rgb(204, 238, 255);vertical-align:bottom"> <div style="line-height:1.25"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">127,171</span></span></div> </td> <td colspan="1" style="vertical-align:bottom;width:1%;background-color:rgb(204, 238, 255);vertical-align:bottom;white-space:nowrap"> </td> </tr> <tr> <td style="vertical-align:top;width:76%;vertical-align:bottom"> <div style="text-align:justify;line-height:1.25"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>Work in process</span></span></span></span></div> </td> <td colspan="1" style="vertical-align:bottom;width:1%;vertical-align:bottom"> </td> <td colspan="1" style="vertical-align:bottom;width:1%;vertical-align:bottom"> </td> <td colspan="1" style="vertical-align:bottom;text-align:right;width:9%;vertical-align:bottom"> <div style="line-height:1.25"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">144,373</span></span></div> </td> <td colspan="1" style="vertical-align:bottom;width:1%;vertical-align:bottom;white-space:nowrap"> </td> <td colspan="1" style="vertical-align:bottom;width:1%;vertical-align:bottom"> </td> <td colspan="1" style="vertical-align:bottom;width:1%;vertical-align:bottom"> </td> <td colspan="1" style="vertical-align:bottom;text-align:right;width:9%;vertical-align:bottom"> <div style="line-height:1.25"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">118,642</span></span></div> </td> <td colspan="1" style="vertical-align:bottom;width:1%;vertical-align:bottom;white-space:nowrap"> </td> </tr> <tr> <td style="vertical-align:middle;width:76%;padding-bottom:2px;background-color:rgb(204, 238, 255);vertical-align:bottom"> <div style="text-align:justify;line-height:1.25"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>Finished goods</span></span></span></span></div> </td> <td colspan="1" style="vertical-align:bottom;width:1%;padding-bottom:2px;background-color:rgb(204, 238, 255);vertical-align:bottom"> </td> <td colspan="1" style="vertical-align:bottom;width:1%;border-bottom:2px solid rgb(0, 0, 0);background-color:rgb(204, 238, 255);vertical-align:bottom"> </td> <td colspan="1" style="vertical-align:bottom;text-align:right;width:9%;border-bottom:2px solid rgb(0, 0, 0);background-color:rgb(204, 238, 255);vertical-align:bottom"> <div style="line-height:1.25"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">7,181</span></span></div> </td> <td colspan="1" style="vertical-align:bottom;width:1%;padding-bottom:2px;background-color:rgb(204, 238, 255);vertical-align:bottom;white-space:nowrap"> </td> <td colspan="1" style="vertical-align:bottom;width:1%;padding-bottom:2px;background-color:rgb(204, 238, 255);vertical-align:bottom"> </td> <td colspan="1" style="vertical-align:bottom;width:1%;border-bottom:2px solid rgb(0, 0, 0);background-color:rgb(204, 238, 255);vertical-align:bottom"> </td> <td colspan="1" style="vertical-align:bottom;text-align:right;width:9%;border-bottom:2px solid rgb(0, 0, 0);background-color:rgb(204, 238, 255);vertical-align:bottom"> <div style="line-height:1.25"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">22,482</span></span></div> </td> <td colspan="1" style="vertical-align:bottom;width:1%;padding-bottom:2px;background-color:rgb(204, 238, 255);vertical-align:bottom;white-space:nowrap"> </td> </tr> <tr> <td style="vertical-align:middle;width:76%;padding-bottom:4px;vertical-align:bottom"> </td> <td colspan="1" style="vertical-align:bottom;width:1%;padding-bottom:4px;vertical-align:bottom"> </td> <td colspan="1" style="vertical-align:bottom;width:1%;border-bottom:4px double rgb(0, 0, 0);vertical-align:bottom"> <div style="line-height:1.25"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>$</span></span></span></span></div> </td> <td colspan="1" style="vertical-align:bottom;text-align:right;width:9%;border-bottom:4px double rgb(0, 0, 0);vertical-align:bottom"> <div style="line-height:1.25"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">256,855</span></span></div> </td> <td colspan="1" style="vertical-align:bottom;width:1%;padding-bottom:4px;vertical-align:bottom;white-space:nowrap"> </td> <td colspan="1" style="vertical-align:bottom;width:1%;padding-bottom:4px;vertical-align:bottom"> </td> <td colspan="1" style="vertical-align:bottom;width:1%;border-bottom:4px double rgb(0, 0, 0);vertical-align:bottom"> <div style="line-height:1.25"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>$</span></span></span></span></div> </td> <td colspan="1" style="vertical-align:bottom;text-align:right;width:9%;border-bottom:4px double rgb(0, 0, 0);vertical-align:bottom"> <div style="line-height:1.25"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">268,295</span></span></div> </td> <td colspan="1" style="vertical-align:bottom;width:1%;padding-bottom:4px;vertical-align:bottom;white-space:nowrap"> </td> </tr> </table> </div> <div style="line-height:1.25;clear:both"> <div style="line-height:1.25"> <div style="line-height:1.25"> <div style="line-height:1.25"> <div style="line-height:1.25"> <div style="line-height:1.25"> <table border="0" cellpadding="0" cellspacing="0" style="font-family:'Times New Roman', Times, serif;font-size:10pt;color:#000000;width:100%"> <tr> <td style="width:56pt"> </td> <td style="width:auto"> <div style="text-align:justify;line-height:1.25"> <div style="line-height:1.25"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">Work in process and finished goods are presented net of aggregate writes down to net realizable value of $6,057 and $8,803 as of December 31, 2025 and 2024, respectively.</span></span></div> </div> </td> </tr> </table> </div> </div> </div> </div> </div> </div> </div> <table border="0" cellpadding="0" cellspacing="0" style="width:85%;color:rgb(0, 0, 0);font-family:Times New Roman, Times, serif;font-size:10pt;text-align:left"> <tr> <td style="vertical-align:middle;padding-bottom:2px;vertical-align:bottom"> <div style="text-align:justify;line-height:1.25"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>Details</span></span></span></span></div> </td> <td colspan="1" style="vertical-align:bottom;padding-bottom:2px;vertical-align:bottom"> </td> <td colspan="2" style="vertical-align:middle;border-bottom:#000000 solid 2px;vertical-align:bottom"> <div style="text-align:center;line-height:1.25"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>2025</span></span></span></span></div> </td> <td colspan="1" style="vertical-align:bottom;padding-bottom:2px;vertical-align:bottom;white-space:nowrap"> </td> <td colspan="1" style="vertical-align:bottom;padding-bottom:2px;vertical-align:bottom"> </td> <td colspan="2" style="vertical-align:middle;border-bottom:#000000 solid 2px;vertical-align:bottom"> <div style="text-align:center;line-height:1.25"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>2024</span></span></span></span></div> </td> <td colspan="1" style="vertical-align:bottom;padding-bottom:2px;vertical-align:bottom;white-space:nowrap"> </td> </tr> <tr> <td style="vertical-align:top;width:76%;background-color:rgb(204, 238, 255);vertical-align:bottom"> <div style="text-align:justify;line-height:1.25"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>Raw materials</span></span></span></span></div> </td> <td colspan="1" style="vertical-align:bottom;width:1%;background-color:rgb(204, 238, 255);vertical-align:bottom"> </td> <td colspan="1" style="vertical-align:bottom;width:1%;background-color:rgb(204, 238, 255);vertical-align:bottom"> <div style="line-height:1.25"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>$</span></span></span></span></div> </td> <td colspan="1" style="vertical-align:bottom;text-align:right;width:9%;background-color:rgb(204, 238, 255);vertical-align:bottom"> <div style="line-height:1.25"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">105,301</span></span></div> </td> <td colspan="1" style="vertical-align:bottom;width:1%;background-color:rgb(204, 238, 255);vertical-align:bottom;white-space:nowrap"> </td> <td colspan="1" style="vertical-align:bottom;width:1%;background-color:rgb(204, 238, 255);vertical-align:bottom"> </td> <td colspan="1" style="vertical-align:bottom;width:1%;background-color:rgb(204, 238, 255);vertical-align:bottom"> <div style="line-height:1.25"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>$</span></span></span></span></div> </td> <td colspan="1" style="vertical-align:bottom;text-align:right;width:9%;background-color:rgb(204, 238, 255);vertical-align:bottom"> <div style="line-height:1.25"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">127,171</span></span></div> </td> <td colspan="1" style="vertical-align:bottom;width:1%;background-color:rgb(204, 238, 255);vertical-align:bottom;white-space:nowrap"> </td> </tr> <tr> <td style="vertical-align:top;width:76%;vertical-align:bottom"> <div style="text-align:justify;line-height:1.25"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>Work in process</span></span></span></span></div> </td> <td colspan="1" style="vertical-align:bottom;width:1%;vertical-align:bottom"> </td> <td colspan="1" style="vertical-align:bottom;width:1%;vertical-align:bottom"> </td> <td colspan="1" style="vertical-align:bottom;text-align:right;width:9%;vertical-align:bottom"> <div style="line-height:1.25"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">144,373</span></span></div> </td> <td colspan="1" style="vertical-align:bottom;width:1%;vertical-align:bottom;white-space:nowrap"> </td> <td colspan="1" style="vertical-align:bottom;width:1%;vertical-align:bottom"> </td> <td colspan="1" style="vertical-align:bottom;width:1%;vertical-align:bottom"> </td> <td colspan="1" style="vertical-align:bottom;text-align:right;width:9%;vertical-align:bottom"> <div style="line-height:1.25"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">118,642</span></span></div> </td> <td colspan="1" style="vertical-align:bottom;width:1%;vertical-align:bottom;white-space:nowrap"> </td> </tr> <tr> <td style="vertical-align:middle;width:76%;padding-bottom:2px;background-color:rgb(204, 238, 255);vertical-align:bottom"> <div style="text-align:justify;line-height:1.25"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>Finished goods</span></span></span></span></div> </td> <td colspan="1" style="vertical-align:bottom;width:1%;padding-bottom:2px;background-color:rgb(204, 238, 255);vertical-align:bottom"> </td> <td colspan="1" style="vertical-align:bottom;width:1%;border-bottom:2px solid rgb(0, 0, 0);background-color:rgb(204, 238, 255);vertical-align:bottom"> </td> <td colspan="1" style="vertical-align:bottom;text-align:right;width:9%;border-bottom:2px solid rgb(0, 0, 0);background-color:rgb(204, 238, 255);vertical-align:bottom"> <div style="line-height:1.25"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">7,181</span></span></div> </td> <td colspan="1" style="vertical-align:bottom;width:1%;padding-bottom:2px;background-color:rgb(204, 238, 255);vertical-align:bottom;white-space:nowrap"> </td> <td colspan="1" style="vertical-align:bottom;width:1%;padding-bottom:2px;background-color:rgb(204, 238, 255);vertical-align:bottom"> </td> <td colspan="1" style="vertical-align:bottom;width:1%;border-bottom:2px solid rgb(0, 0, 0);background-color:rgb(204, 238, 255);vertical-align:bottom"> </td> <td colspan="1" style="vertical-align:bottom;text-align:right;width:9%;border-bottom:2px solid rgb(0, 0, 0);background-color:rgb(204, 238, 255);vertical-align:bottom"> <div style="line-height:1.25"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">22,482</span></span></div> </td> <td colspan="1" style="vertical-align:bottom;width:1%;padding-bottom:2px;background-color:rgb(204, 238, 255);vertical-align:bottom;white-space:nowrap"> </td> </tr> <tr> <td style="vertical-align:middle;width:76%;padding-bottom:4px;vertical-align:bottom"> </td> <td colspan="1" style="vertical-align:bottom;width:1%;padding-bottom:4px;vertical-align:bottom"> </td> <td colspan="1" style="vertical-align:bottom;width:1%;border-bottom:4px double rgb(0, 0, 0);vertical-align:bottom"> <div style="line-height:1.25"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>$</span></span></span></span></div> </td> <td colspan="1" style="vertical-align:bottom;text-align:right;width:9%;border-bottom:4px double rgb(0, 0, 0);vertical-align:bottom"> <div style="line-height:1.25"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">256,855</span></span></div> </td> <td colspan="1" style="vertical-align:bottom;width:1%;padding-bottom:4px;vertical-align:bottom;white-space:nowrap"> </td> <td colspan="1" style="vertical-align:bottom;width:1%;padding-bottom:4px;vertical-align:bottom"> </td> <td colspan="1" style="vertical-align:bottom;width:1%;border-bottom:4px double rgb(0, 0, 0);vertical-align:bottom"> <div style="line-height:1.25"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>$</span></span></span></span></div> </td> <td colspan="1" style="vertical-align:bottom;text-align:right;width:9%;border-bottom:4px double rgb(0, 0, 0);vertical-align:bottom"> <div style="line-height:1.25"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">268,295</span></span></div> </td> <td colspan="1" style="vertical-align:bottom;width:1%;padding-bottom:4px;vertical-align:bottom;white-space:nowrap"> </td> </tr> </table> 105301000 127171000 144373000 118642000 7181000 22482000 256855000 268295000 6057000 8803000 <div> <div style="line-height:1.25"> <div style="line-height:1.25"> <div style="line-height:1.25"> <div style="line-height:1.25"> <div style="line-height:1.25"> <div style="line-height:1.25"> <table border="0" cellpadding="0" cellspacing="0" style="font-family:'Times New Roman', Times, serif;font-size:10pt;color:#000000;width:100%"> <tr> <td style="width:56pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span><span style="font-weight:bold">NOTE 4:</span></span></span></span></span></td> <td style="width:auto"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span><span style="font-weight:bold">OTHER CURRENT ASSETS</span></span></span></span></span></td> </tr> </table> <div> <div style="line-height:1.25"> <div style="line-height:1.25"> <div style="line-height:1.25"> <div style="line-height:1.25"> <div style="line-height:1.25"> <div style="line-height:1.25"> <table border="0" cellpadding="0" cellspacing="0" style="font-family:'Times New Roman', Times, serif;font-size:10pt;color:#000000;width:100%"> <tr> <td style="width:56pt"> </td> <td style="width:auto"> <div style="text-align:justify;line-height:1.25"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>Other current assets consist of the following as of December 31, 2025 and 2024:</span></span></span></span></div> </td> </tr> </table> <div> </div> </div> </div> </div> </div> </div> </div> </div> </div> </div> </div> </div> </div> </div> <div> <div style="margin-left:72pt"> <table border="0" cellpadding="0" cellspacing="0" style="width:85%;color:rgb(0, 0, 0);font-family:Times New Roman, Times, serif;font-size:10pt;text-align:left"> <tr> <td style="vertical-align:middle;padding-bottom:2px;vertical-align:bottom"> <div style="text-align:justify;line-height:1.25"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>Details</span></span></span></span></div> </td> <td colspan="1" style="vertical-align:bottom;padding-bottom:2px;vertical-align:bottom"> </td> <td colspan="2" style="vertical-align:middle;border-bottom:#000000 solid 2px;vertical-align:bottom"> <div style="text-align:center;line-height:1.25"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>2025</span></span></span></span></div> </td> <td colspan="1" style="vertical-align:bottom;padding-bottom:2px;vertical-align:bottom;white-space:nowrap"> </td> <td colspan="1" style="vertical-align:bottom;padding-bottom:2px;vertical-align:bottom"> </td> <td colspan="2" style="vertical-align:middle;border-bottom:#000000 solid 2px;vertical-align:bottom"> <div style="text-align:center;line-height:1.25"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>2024</span></span></span></span></div> </td> <td colspan="1" style="vertical-align:bottom;padding-bottom:2px;vertical-align:bottom;white-space:nowrap"> </td> </tr> <tr> <td style="vertical-align:middle;width:76%;background-color:rgb(204, 238, 255);vertical-align:bottom"> <div style="text-align:justify;line-height:1.25"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>Direct and indirect tax receivables</span></span></span></span></div> </td> <td colspan="1" style="vertical-align:bottom;width:1%;background-color:rgb(204, 238, 255);vertical-align:bottom"> </td> <td colspan="1" style="vertical-align:bottom;width:1%;background-color:rgb(204, 238, 255);vertical-align:bottom"> <div style="line-height:1.25"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>$</span></span></span></span></div> </td> <td colspan="1" style="vertical-align:bottom;text-align:right;width:9%;background-color:rgb(204, 238, 255);vertical-align:bottom"> <div style="line-height:1.25"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">41,197</span></span></div> </td> <td colspan="1" style="vertical-align:bottom;width:1%;background-color:rgb(204, 238, 255);vertical-align:bottom;white-space:nowrap"> </td> <td colspan="1" style="vertical-align:bottom;width:1%;background-color:rgb(204, 238, 255);vertical-align:bottom"> </td> <td colspan="1" style="vertical-align:bottom;width:1%;background-color:rgb(204, 238, 255);vertical-align:bottom"> <div style="line-height:1.25"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>$</span></span></span></span></div> </td> <td colspan="1" style="vertical-align:bottom;text-align:right;width:9%;background-color:rgb(204, 238, 255);vertical-align:bottom"> <div style="line-height:1.25"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">27,551</span></span></div> </td> <td colspan="1" style="vertical-align:bottom;width:1%;background-color:rgb(204, 238, 255);vertical-align:bottom;white-space:nowrap"> </td> </tr> <tr> <td style="vertical-align:middle;width:76%;vertical-align:bottom"> <div style="text-align:justify;line-height:1.25"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>Prepaid expenses</span></span></span></span></div> </td> <td colspan="1" style="vertical-align:bottom;width:1%;vertical-align:bottom"> </td> <td colspan="1" style="vertical-align:bottom;width:1%;vertical-align:bottom"> </td> <td colspan="1" style="vertical-align:bottom;text-align:right;width:9%;vertical-align:bottom"> <div style="line-height:1.25"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">21,928</span></span></div> </td> <td colspan="1" style="vertical-align:bottom;width:1%;vertical-align:bottom;white-space:nowrap"> </td> <td colspan="1" style="vertical-align:bottom;width:1%;vertical-align:bottom"> </td> <td colspan="1" style="vertical-align:bottom;width:1%;vertical-align:bottom"> </td> <td colspan="1" style="vertical-align:bottom;text-align:right;width:9%;vertical-align:bottom"> <div style="line-height:1.25"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">32,985</span></span></div> </td> <td colspan="1" style="vertical-align:bottom;width:1%;vertical-align:bottom;white-space:nowrap"> </td> </tr> <tr> <td style="vertical-align:middle;width:76%;background-color:rgb(204, 238, 255);vertical-align:bottom"> <div style="text-align:justify;line-height:1.25"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>Receivables from hedging transactions - see Note 10A</span></span></span></span></div> </td> <td colspan="1" style="vertical-align:bottom;width:1%;background-color:rgb(204, 238, 255);vertical-align:bottom"> </td> <td colspan="1" style="vertical-align:bottom;width:1%;background-color:rgb(204, 238, 255);vertical-align:bottom"> </td> <td colspan="1" style="vertical-align:bottom;text-align:right;width:9%;background-color:rgb(204, 238, 255);vertical-align:bottom"> <div style="line-height:1.25"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">14,463</span></span></div> </td> <td colspan="1" style="vertical-align:bottom;width:1%;background-color:rgb(204, 238, 255);vertical-align:bottom;white-space:nowrap"> </td> <td colspan="1" style="vertical-align:bottom;width:1%;background-color:rgb(204, 238, 255);vertical-align:bottom"> </td> <td colspan="1" style="vertical-align:bottom;width:1%;background-color:rgb(204, 238, 255);vertical-align:bottom"> </td> <td colspan="1" style="vertical-align:bottom;text-align:right;width:9%;background-color:rgb(204, 238, 255);vertical-align:bottom"> <div style="line-height:1.25"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">768</span></span></div> </td> <td colspan="1" style="vertical-align:bottom;width:1%;background-color:rgb(204, 238, 255);vertical-align:bottom;white-space:nowrap"> </td> </tr> <tr> <td style="vertical-align:middle;width:76%;padding-bottom:2px;vertical-align:bottom"> <div style="text-align:justify;line-height:1.25"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>Other receivables</span></span></span></span></div> </td> <td colspan="1" style="vertical-align:bottom;width:1%;padding-bottom:2px;vertical-align:bottom"> </td> <td colspan="1" style="vertical-align:bottom;width:1%;border-bottom:2px solid rgb(0, 0, 0);vertical-align:bottom"> </td> <td colspan="1" style="vertical-align:bottom;text-align:right;width:9%;border-bottom:2px solid rgb(0, 0, 0);vertical-align:bottom"> <div style="line-height:1.25"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">474</span></span></div> </td> <td colspan="1" style="vertical-align:bottom;width:1%;padding-bottom:2px;vertical-align:bottom;white-space:nowrap"> </td> <td colspan="1" style="vertical-align:bottom;width:1%;padding-bottom:2px;vertical-align:bottom"> </td> <td colspan="1" style="vertical-align:bottom;width:1%;border-bottom:2px solid rgb(0, 0, 0);vertical-align:bottom"> </td> <td colspan="1" style="vertical-align:bottom;text-align:right;width:9%;border-bottom:2px solid rgb(0, 0, 0);vertical-align:bottom"> <div style="line-height:1.25"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">513</span></span></div> </td> <td colspan="1" style="vertical-align:bottom;width:1%;padding-bottom:2px;vertical-align:bottom;white-space:nowrap"> </td> </tr> <tr> <td style="vertical-align:middle;width:76%;padding-bottom:4px;background-color:rgb(204, 238, 255);vertical-align:bottom"> </td> <td colspan="1" style="vertical-align:bottom;width:1%;padding-bottom:4px;background-color:rgb(204, 238, 255);vertical-align:bottom"> </td> <td colspan="1" style="vertical-align:bottom;width:1%;border-bottom:4px double rgb(0, 0, 0);background-color:rgb(204, 238, 255);vertical-align:bottom"> <div style="line-height:1.25"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>$</span></span></span></span></div> </td> <td colspan="1" style="vertical-align:bottom;text-align:right;width:9%;border-bottom:4px double rgb(0, 0, 0);background-color:rgb(204, 238, 255);vertical-align:bottom"> <div style="line-height:1.25"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">78,062</span></span></div> </td> <td colspan="1" style="vertical-align:bottom;width:1%;padding-bottom:4px;background-color:rgb(204, 238, 255);vertical-align:bottom;white-space:nowrap"> </td> <td colspan="1" style="vertical-align:bottom;width:1%;padding-bottom:4px;background-color:rgb(204, 238, 255);vertical-align:bottom"> </td> <td colspan="1" style="vertical-align:bottom;width:1%;border-bottom:4px double rgb(0, 0, 0);background-color:rgb(204, 238, 255);vertical-align:bottom"> <div style="line-height:1.25"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>$</span></span></span></span></div> </td> <td colspan="1" style="vertical-align:bottom;text-align:right;width:9%;border-bottom:4px double rgb(0, 0, 0);background-color:rgb(204, 238, 255);vertical-align:bottom"> <div style="line-height:1.25"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">61,817</span></span></div> </td> <td colspan="1" style="vertical-align:bottom;width:1%;padding-bottom:4px;background-color:rgb(204, 238, 255);vertical-align:bottom;white-space:nowrap"> </td> </tr> </table> </div> </div> </div> <table border="0" cellpadding="0" cellspacing="0" style="width:85%;color:rgb(0, 0, 0);font-family:Times New Roman, Times, serif;font-size:10pt;text-align:left"> <tr> <td style="vertical-align:middle;padding-bottom:2px;vertical-align:bottom"> <div style="text-align:justify;line-height:1.25"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>Details</span></span></span></span></div> </td> <td colspan="1" style="vertical-align:bottom;padding-bottom:2px;vertical-align:bottom"> </td> <td colspan="2" style="vertical-align:middle;border-bottom:#000000 solid 2px;vertical-align:bottom"> <div style="text-align:center;line-height:1.25"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>2025</span></span></span></span></div> </td> <td colspan="1" style="vertical-align:bottom;padding-bottom:2px;vertical-align:bottom;white-space:nowrap"> </td> <td colspan="1" style="vertical-align:bottom;padding-bottom:2px;vertical-align:bottom"> </td> <td colspan="2" style="vertical-align:middle;border-bottom:#000000 solid 2px;vertical-align:bottom"> <div style="text-align:center;line-height:1.25"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>2024</span></span></span></span></div> </td> <td colspan="1" style="vertical-align:bottom;padding-bottom:2px;vertical-align:bottom;white-space:nowrap"> </td> </tr> <tr> <td style="vertical-align:middle;width:76%;background-color:rgb(204, 238, 255);vertical-align:bottom"> <div style="text-align:justify;line-height:1.25"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>Direct and indirect tax receivables</span></span></span></span></div> </td> <td colspan="1" style="vertical-align:bottom;width:1%;background-color:rgb(204, 238, 255);vertical-align:bottom"> </td> <td colspan="1" style="vertical-align:bottom;width:1%;background-color:rgb(204, 238, 255);vertical-align:bottom"> <div style="line-height:1.25"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>$</span></span></span></span></div> </td> <td colspan="1" style="vertical-align:bottom;text-align:right;width:9%;background-color:rgb(204, 238, 255);vertical-align:bottom"> <div style="line-height:1.25"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">41,197</span></span></div> </td> <td colspan="1" style="vertical-align:bottom;width:1%;background-color:rgb(204, 238, 255);vertical-align:bottom;white-space:nowrap"> </td> <td colspan="1" style="vertical-align:bottom;width:1%;background-color:rgb(204, 238, 255);vertical-align:bottom"> </td> <td colspan="1" style="vertical-align:bottom;width:1%;background-color:rgb(204, 238, 255);vertical-align:bottom"> <div style="line-height:1.25"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>$</span></span></span></span></div> </td> <td colspan="1" style="vertical-align:bottom;text-align:right;width:9%;background-color:rgb(204, 238, 255);vertical-align:bottom"> <div style="line-height:1.25"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">27,551</span></span></div> </td> <td colspan="1" style="vertical-align:bottom;width:1%;background-color:rgb(204, 238, 255);vertical-align:bottom;white-space:nowrap"> </td> </tr> <tr> <td style="vertical-align:middle;width:76%;vertical-align:bottom"> <div style="text-align:justify;line-height:1.25"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>Prepaid expenses</span></span></span></span></div> </td> <td colspan="1" style="vertical-align:bottom;width:1%;vertical-align:bottom"> </td> <td colspan="1" style="vertical-align:bottom;width:1%;vertical-align:bottom"> </td> <td colspan="1" style="vertical-align:bottom;text-align:right;width:9%;vertical-align:bottom"> <div style="line-height:1.25"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">21,928</span></span></div> </td> <td colspan="1" style="vertical-align:bottom;width:1%;vertical-align:bottom;white-space:nowrap"> </td> <td colspan="1" style="vertical-align:bottom;width:1%;vertical-align:bottom"> </td> <td colspan="1" style="vertical-align:bottom;width:1%;vertical-align:bottom"> </td> <td colspan="1" style="vertical-align:bottom;text-align:right;width:9%;vertical-align:bottom"> <div style="line-height:1.25"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">32,985</span></span></div> </td> <td colspan="1" style="vertical-align:bottom;width:1%;vertical-align:bottom;white-space:nowrap"> </td> </tr> <tr> <td style="vertical-align:middle;width:76%;background-color:rgb(204, 238, 255);vertical-align:bottom"> <div style="text-align:justify;line-height:1.25"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>Receivables from hedging transactions - see Note 10A</span></span></span></span></div> </td> <td colspan="1" style="vertical-align:bottom;width:1%;background-color:rgb(204, 238, 255);vertical-align:bottom"> </td> <td colspan="1" style="vertical-align:bottom;width:1%;background-color:rgb(204, 238, 255);vertical-align:bottom"> </td> <td colspan="1" style="vertical-align:bottom;text-align:right;width:9%;background-color:rgb(204, 238, 255);vertical-align:bottom"> <div style="line-height:1.25"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">14,463</span></span></div> </td> <td colspan="1" style="vertical-align:bottom;width:1%;background-color:rgb(204, 238, 255);vertical-align:bottom;white-space:nowrap"> </td> <td colspan="1" style="vertical-align:bottom;width:1%;background-color:rgb(204, 238, 255);vertical-align:bottom"> </td> <td colspan="1" style="vertical-align:bottom;width:1%;background-color:rgb(204, 238, 255);vertical-align:bottom"> </td> <td colspan="1" style="vertical-align:bottom;text-align:right;width:9%;background-color:rgb(204, 238, 255);vertical-align:bottom"> <div style="line-height:1.25"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">768</span></span></div> </td> <td colspan="1" style="vertical-align:bottom;width:1%;background-color:rgb(204, 238, 255);vertical-align:bottom;white-space:nowrap"> </td> </tr> <tr> <td style="vertical-align:middle;width:76%;padding-bottom:2px;vertical-align:bottom"> <div style="text-align:justify;line-height:1.25"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>Other receivables</span></span></span></span></div> </td> <td colspan="1" style="vertical-align:bottom;width:1%;padding-bottom:2px;vertical-align:bottom"> </td> <td colspan="1" style="vertical-align:bottom;width:1%;border-bottom:2px solid rgb(0, 0, 0);vertical-align:bottom"> </td> <td colspan="1" style="vertical-align:bottom;text-align:right;width:9%;border-bottom:2px solid rgb(0, 0, 0);vertical-align:bottom"> <div style="line-height:1.25"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">474</span></span></div> </td> <td colspan="1" style="vertical-align:bottom;width:1%;padding-bottom:2px;vertical-align:bottom;white-space:nowrap"> </td> <td colspan="1" style="vertical-align:bottom;width:1%;padding-bottom:2px;vertical-align:bottom"> </td> <td colspan="1" style="vertical-align:bottom;width:1%;border-bottom:2px solid rgb(0, 0, 0);vertical-align:bottom"> </td> <td colspan="1" style="vertical-align:bottom;text-align:right;width:9%;border-bottom:2px solid rgb(0, 0, 0);vertical-align:bottom"> <div style="line-height:1.25"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">513</span></span></div> </td> <td colspan="1" style="vertical-align:bottom;width:1%;padding-bottom:2px;vertical-align:bottom;white-space:nowrap"> </td> </tr> <tr> <td style="vertical-align:middle;width:76%;padding-bottom:4px;background-color:rgb(204, 238, 255);vertical-align:bottom"> </td> <td colspan="1" style="vertical-align:bottom;width:1%;padding-bottom:4px;background-color:rgb(204, 238, 255);vertical-align:bottom"> </td> <td colspan="1" style="vertical-align:bottom;width:1%;border-bottom:4px double rgb(0, 0, 0);background-color:rgb(204, 238, 255);vertical-align:bottom"> <div style="line-height:1.25"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>$</span></span></span></span></div> </td> <td colspan="1" style="vertical-align:bottom;text-align:right;width:9%;border-bottom:4px double rgb(0, 0, 0);background-color:rgb(204, 238, 255);vertical-align:bottom"> <div style="line-height:1.25"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">78,062</span></span></div> </td> <td colspan="1" style="vertical-align:bottom;width:1%;padding-bottom:4px;background-color:rgb(204, 238, 255);vertical-align:bottom;white-space:nowrap"> </td> <td colspan="1" style="vertical-align:bottom;width:1%;padding-bottom:4px;background-color:rgb(204, 238, 255);vertical-align:bottom"> </td> <td colspan="1" style="vertical-align:bottom;width:1%;border-bottom:4px double rgb(0, 0, 0);background-color:rgb(204, 238, 255);vertical-align:bottom"> <div style="line-height:1.25"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>$</span></span></span></span></div> </td> <td colspan="1" style="vertical-align:bottom;text-align:right;width:9%;border-bottom:4px double rgb(0, 0, 0);background-color:rgb(204, 238, 255);vertical-align:bottom"> <div style="line-height:1.25"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">61,817</span></span></div> </td> <td colspan="1" style="vertical-align:bottom;width:1%;padding-bottom:4px;background-color:rgb(204, 238, 255);vertical-align:bottom;white-space:nowrap"> </td> </tr> </table> 41197000 27551000 21928000 32985000 14463000 768000 474000 513000 78062000 61817000 <div> <div style="line-height:1.25"> <div style="line-height:1.25"> <div style="line-height:1.25"> <div style="line-height:1.25"> <div style="line-height:1.25"> <div style="line-height:1.25"> <div style="line-height:1.25"> <table border="0" cellpadding="0" cellspacing="0" style="font-family:'Times New Roman', Times, serif;font-size:10pt;color:#000000;width:100%"> <tr> <td style="width:56pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span><span style="font-weight:bold">NOTE 5:</span></span></span></span></span></td> <td style="width:auto"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span><span style="font-weight:bold">PROPERTY AND EQUIPMENT, NET</span></span></span></span></span></td> </tr> </table> <div> </div> </div> </div> </div> </div> </div> </div> </div> <div> <div style="text-align:justify;line-height:1.25"> <div style="line-height:1.25"> <div style="line-height:1.25"> <div style="line-height:1.25"> <div style="line-height:1.25"> <div style="line-height:1.25"> <div style="line-height:1.25"> <div style="line-height:1.25"> <table border="0" cellpadding="0" cellspacing="0" style="font-family:'Times New Roman', Times, serif;font-size:10pt;color:#000000;width:100%"> <tr> <td style="width:56pt"> </td> <td style="width:auto"> <div style="text-align:justify;line-height:1.25"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>Property and equipment, net consist of the following as of December 31, 2025 and 2024:</span></span></span></span></div> </td> </tr> </table> <div> </div> </div> </div> </div> </div> </div> </div> </div> </div> <div style="margin-left:72pt"> <table border="0" cellpadding="0" cellspacing="0" style="width:85%;color:rgb(0, 0, 0);font-family:Times New Roman, Times, serif;font-size:10pt;text-align:left"> <tr> <td style="vertical-align:middle;padding-bottom:2px;vertical-align:bottom"> <div style="text-align:justify;line-height:1.25"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span><span><span>Details</span></span></span></span></span></span></div> </td> <td colspan="1" style="vertical-align:bottom;padding-bottom:2px;vertical-align:bottom"> </td> <td colspan="2" style="vertical-align:middle;border-bottom:#000000 solid 2px;vertical-align:bottom"> <div style="text-align:center;line-height:1.25"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span><span><span>2025</span></span></span></span></span></span></div> </td> <td colspan="1" style="vertical-align:bottom;padding-bottom:2px;vertical-align:bottom;white-space:nowrap"> </td> <td colspan="1" style="vertical-align:bottom;padding-bottom:2px;vertical-align:bottom"> </td> <td colspan="2" style="vertical-align:middle;border-bottom:#000000 solid 2px;vertical-align:bottom"> <div style="text-align:center;line-height:1.25"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span><span><span>2024</span></span></span></span></span></span></div> </td> <td colspan="1" style="vertical-align:bottom;padding-bottom:2px;vertical-align:bottom;white-space:nowrap"> </td> </tr> <tr> <td style="vertical-align:middle;background-color:rgb(204, 238, 255);vertical-align:bottom"> <div style="text-align:justify;line-height:1.25"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span><span><span>Original cost: (*)</span></span></span></span></span></span></div> </td> <td colspan="1" style="vertical-align:bottom;background-color:rgb(204, 238, 255);vertical-align:bottom"> </td> <td colspan="2" style="vertical-align:middle;background-color:rgb(204, 238, 255);vertical-align:bottom"> </td> <td colspan="1" style="vertical-align:bottom;background-color:rgb(204, 238, 255);vertical-align:bottom;white-space:nowrap"> </td> <td colspan="1" style="vertical-align:bottom;background-color:rgb(204, 238, 255);vertical-align:bottom"> </td> <td colspan="2" style="vertical-align:middle;background-color:rgb(204, 238, 255);vertical-align:bottom"> </td> <td colspan="1" style="vertical-align:bottom;background-color:rgb(204, 238, 255);vertical-align:bottom;white-space:nowrap"> </td> </tr> <tr> <td style="vertical-align:middle;width:76%;vertical-align:bottom"> <div style="line-height:1.25"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span><span><span>Land and buildings, including facility infrastructure</span></span></span></span></span></span></div> </td> <td colspan="1" style="vertical-align:bottom;width:1%;vertical-align:bottom"> </td> <td colspan="1" style="vertical-align:bottom;width:1%;vertical-align:bottom"> <div style="line-height:1.25"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span><span><span>$</span></span></span></span></span></span></div> </td> <td colspan="1" style="vertical-align:bottom;text-align:right;width:9%;vertical-align:bottom"> <div style="line-height:1.25"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>491,099</span></span></span></span></div> </td> <td colspan="1" style="vertical-align:bottom;width:1%;vertical-align:bottom;white-space:nowrap"> </td> <td colspan="1" style="vertical-align:bottom;width:1%;vertical-align:bottom"> </td> <td colspan="1" style="vertical-align:bottom;width:1%;vertical-align:bottom"> <div style="line-height:1.25"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span><span><span>$</span></span></span></span></span></span></div> </td> <td colspan="1" style="vertical-align:bottom;text-align:right;width:9%;vertical-align:bottom"> <div style="line-height:1.25"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>463,564</span></span></span></span></div> </td> <td colspan="1" style="vertical-align:bottom;width:1%;vertical-align:bottom;white-space:nowrap"> </td> </tr> <tr> <td style="vertical-align:middle;width:76%;padding-bottom:2px;background-color:rgb(204, 238, 255);vertical-align:bottom"> <div style="text-align:justify;line-height:1.25"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span><span><span>Machinery and equipment</span></span></span></span></span></span></div> </td> <td colspan="1" style="vertical-align:bottom;width:1%;padding-bottom:2px;background-color:rgb(204, 238, 255);vertical-align:bottom"> </td> <td colspan="1" style="vertical-align:bottom;width:1%;border-bottom:2px solid rgb(0, 0, 0);background-color:rgb(204, 238, 255);vertical-align:bottom"> </td> <td colspan="1" style="vertical-align:bottom;text-align:right;width:9%;border-bottom:2px solid rgb(0, 0, 0);background-color:rgb(204, 238, 255);vertical-align:bottom"> <div style="line-height:1.25"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>4,694,587</span></span></span></span></div> </td> <td colspan="1" style="vertical-align:bottom;width:1%;padding-bottom:2px;background-color:rgb(204, 238, 255);vertical-align:bottom;white-space:nowrap"> </td> <td colspan="1" style="vertical-align:bottom;width:1%;padding-bottom:2px;background-color:rgb(204, 238, 255);vertical-align:bottom"> </td> <td colspan="1" style="vertical-align:bottom;width:1%;border-bottom:2px solid rgb(0, 0, 0);background-color:rgb(204, 238, 255);vertical-align:bottom"> </td> <td colspan="1" style="vertical-align:bottom;text-align:right;width:9%;border-bottom:2px solid rgb(0, 0, 0);background-color:rgb(204, 238, 255);vertical-align:bottom"> <div style="line-height:1.25"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>4,281,817</span></span></span></span></div> </td> <td colspan="1" style="vertical-align:bottom;width:1%;padding-bottom:2px;background-color:rgb(204, 238, 255);vertical-align:bottom;white-space:nowrap"> </td> </tr> <tr> <td style="vertical-align:middle;width:76%;padding-bottom:2px;vertical-align:bottom"> </td> <td colspan="1" style="vertical-align:bottom;width:1%;padding-bottom:2px;vertical-align:bottom"> </td> <td colspan="1" style="vertical-align:bottom;width:1%;border-bottom:2px solid rgb(0, 0, 0);vertical-align:bottom"> </td> <td colspan="1" style="vertical-align:bottom;text-align:right;width:9%;border-bottom:2px solid rgb(0, 0, 0);vertical-align:bottom"> <div style="line-height:1.25"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>5,185,686</span></span></span></span></div> </td> <td colspan="1" style="vertical-align:bottom;width:1%;padding-bottom:2px;vertical-align:bottom;white-space:nowrap"> </td> <td colspan="1" style="vertical-align:bottom;width:1%;padding-bottom:2px;vertical-align:bottom"> </td> <td colspan="1" style="vertical-align:bottom;width:1%;border-bottom:2px solid rgb(0, 0, 0);vertical-align:bottom"> </td> <td colspan="1" style="vertical-align:bottom;text-align:right;width:9%;border-bottom:2px solid rgb(0, 0, 0);vertical-align:bottom"> <div style="line-height:1.25"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>4,745,381</span></span></span></span></div> </td> <td colspan="1" style="vertical-align:bottom;width:1%;padding-bottom:2px;vertical-align:bottom;white-space:nowrap"> </td> </tr> <tr> <td style="vertical-align:middle;width:76%;background-color:rgb(204, 238, 255);vertical-align:bottom"> <div style="text-align:justify;line-height:1.25"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span><span><span>Accumulated depreciation:</span></span></span></span></span></span></div> </td> <td colspan="1" style="vertical-align:bottom;width:1%;background-color:rgb(204, 238, 255);vertical-align:bottom"> </td> <td colspan="1" style="vertical-align:bottom;width:1%;background-color:rgb(204, 238, 255);vertical-align:bottom"> </td> <td colspan="1" style="vertical-align:bottom;text-align:right;width:9%;background-color:rgb(204, 238, 255);vertical-align:bottom"> </td> <td colspan="1" style="vertical-align:bottom;width:1%;background-color:rgb(204, 238, 255);vertical-align:bottom;white-space:nowrap"> </td> <td colspan="1" style="vertical-align:bottom;width:1%;background-color:rgb(204, 238, 255);vertical-align:bottom"> </td> <td colspan="1" style="vertical-align:bottom;width:1%;background-color:rgb(204, 238, 255);vertical-align:bottom"> </td> <td colspan="1" style="vertical-align:bottom;text-align:right;width:9%;background-color:rgb(204, 238, 255);vertical-align:bottom"> </td> <td colspan="1" style="vertical-align:bottom;width:1%;background-color:rgb(204, 238, 255);vertical-align:bottom;white-space:nowrap"> </td> </tr> <tr> <td style="vertical-align:middle;width:76%;vertical-align:bottom"> <div style="text-align:justify;line-height:1.25"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span><span><span>Buildings, including facility infrastructure</span></span></span></span></span></span></div> </td> <td colspan="1" style="vertical-align:bottom;width:1%;vertical-align:bottom"> </td> <td colspan="1" style="vertical-align:bottom;width:1%;vertical-align:bottom"> </td> <td colspan="1" style="vertical-align:bottom;text-align:right;width:9%;vertical-align:bottom"> <div style="line-height:1.25"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>(317,082</span></span></span></span></div> </td> <td colspan="1" style="vertical-align:bottom;width:1%;vertical-align:bottom;white-space:nowrap"> <div style="line-height:1.25"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span><span><span>)</span></span></span></span></span></span></div> </td> <td colspan="1" style="vertical-align:bottom;width:1%;vertical-align:bottom"> </td> <td colspan="1" style="vertical-align:bottom;width:1%;vertical-align:bottom"> </td> <td colspan="1" style="vertical-align:bottom;text-align:right;width:9%;vertical-align:bottom"> <div style="line-height:1.25"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>(303,041</span></span></span></span></div> </td> <td colspan="1" style="vertical-align:bottom;width:1%;vertical-align:bottom;white-space:nowrap"> <div style="line-height:1.25"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span><span><span>)</span></span></span></span></span></span></div> </td> </tr> <tr> <td style="vertical-align:middle;width:76%;padding-bottom:2px;background-color:rgb(204, 238, 255);vertical-align:bottom"> <div style="text-align:justify;line-height:1.25"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span><span><span>Machinery and equipment</span></span></span></span></span></span></div> </td> <td colspan="1" style="vertical-align:bottom;width:1%;padding-bottom:2px;background-color:rgb(204, 238, 255);vertical-align:bottom"> </td> <td colspan="1" style="vertical-align:bottom;width:1%;border-bottom:2px solid rgb(0, 0, 0);background-color:rgb(204, 238, 255);vertical-align:bottom"> </td> <td colspan="1" style="vertical-align:bottom;text-align:right;width:9%;border-bottom:2px solid rgb(0, 0, 0);background-color:rgb(204, 238, 255);vertical-align:bottom"> <div style="line-height:1.25"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>(3,405,548</span></span></span></span></div> </td> <td colspan="1" style="vertical-align:bottom;width:1%;padding-bottom:2px;background-color:rgb(204, 238, 255);vertical-align:bottom;white-space:nowrap"> <div style="line-height:1.25"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span><span><span>)</span></span></span></span></span></span></div> </td> <td colspan="1" style="vertical-align:bottom;width:1%;padding-bottom:2px;background-color:rgb(204, 238, 255);vertical-align:bottom"> </td> <td colspan="1" style="vertical-align:bottom;width:1%;border-bottom:2px solid rgb(0, 0, 0);background-color:rgb(204, 238, 255);vertical-align:bottom"> </td> <td colspan="1" style="vertical-align:bottom;text-align:right;width:9%;border-bottom:2px solid rgb(0, 0, 0);background-color:rgb(204, 238, 255);vertical-align:bottom"> <div style="line-height:1.25"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>(3,155,718</span></span></span></span></div> </td> <td colspan="1" style="vertical-align:bottom;width:1%;padding-bottom:2px;background-color:rgb(204, 238, 255);vertical-align:bottom;white-space:nowrap"> <div style="line-height:1.25"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span><span><span>)</span></span></span></span></span></span></div> </td> </tr> <tr> <td style="vertical-align:middle;width:76%;padding-bottom:2px;vertical-align:bottom"> </td> <td colspan="1" style="vertical-align:bottom;width:1%;padding-bottom:2px;vertical-align:bottom"> </td> <td colspan="1" style="vertical-align:bottom;width:1%;border-bottom:2px solid rgb(0, 0, 0);vertical-align:bottom"> </td> <td colspan="1" style="vertical-align:bottom;text-align:right;width:9%;border-bottom:2px solid rgb(0, 0, 0);vertical-align:bottom"> <div style="line-height:1.25"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>(3,722,630</span></span></span></span></div> </td> <td colspan="1" style="vertical-align:bottom;width:1%;padding-bottom:2px;vertical-align:bottom;white-space:nowrap"> <div style="line-height:1.25"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span><span><span>)</span></span></span></span></span></span></div> </td> <td colspan="1" style="vertical-align:bottom;width:1%;padding-bottom:2px;vertical-align:bottom"> </td> <td colspan="1" style="vertical-align:bottom;width:1%;border-bottom:2px solid rgb(0, 0, 0);vertical-align:bottom"> </td> <td colspan="1" style="vertical-align:bottom;text-align:right;width:9%;border-bottom:2px solid rgb(0, 0, 0);vertical-align:bottom"> <div style="line-height:1.25"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>(3,458,759</span></span></span></span></div> </td> <td colspan="1" style="vertical-align:bottom;width:1%;padding-bottom:2px;vertical-align:bottom;white-space:nowrap"> <div style="line-height:1.25"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span><span><span>)</span></span></span></span></span></span></div> </td> </tr> <tr> <td style="vertical-align:middle;width:76%;padding-bottom:4px;background-color:rgb(204, 238, 255);vertical-align:bottom"> </td> <td colspan="1" style="vertical-align:bottom;width:1%;padding-bottom:4px;background-color:rgb(204, 238, 255);vertical-align:bottom"> </td> <td colspan="1" style="vertical-align:bottom;width:1%;border-bottom:4px double rgb(0, 0, 0);background-color:rgb(204, 238, 255);vertical-align:bottom"> <div style="line-height:1.25"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span><span><span>$</span></span></span></span></span></span></div> </td> <td colspan="1" style="vertical-align:bottom;text-align:right;width:9%;border-bottom:4px double rgb(0, 0, 0);background-color:rgb(204, 238, 255);vertical-align:bottom"> <div style="line-height:1.25"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>1,463,056</span></span></span></span></div> </td> <td colspan="1" style="vertical-align:bottom;width:1%;padding-bottom:4px;background-color:rgb(204, 238, 255);vertical-align:bottom;white-space:nowrap"> </td> <td colspan="1" style="vertical-align:bottom;width:1%;padding-bottom:4px;background-color:rgb(204, 238, 255);vertical-align:bottom"> </td> <td colspan="1" style="vertical-align:bottom;width:1%;border-bottom:4px double rgb(0, 0, 0);background-color:rgb(204, 238, 255);vertical-align:bottom"> <div style="line-height:1.25"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span><span><span>$</span></span></span></span></span></span></div> </td> <td colspan="1" style="vertical-align:bottom;text-align:right;width:9%;border-bottom:4px double rgb(0, 0, 0);background-color:rgb(204, 238, 255);vertical-align:bottom"> <div style="line-height:1.25"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>1,286,622</span></span></span></span></div> </td> <td colspan="1" style="vertical-align:bottom;width:1%;padding-bottom:4px;background-color:rgb(204, 238, 255);vertical-align:bottom;white-space:nowrap"> </td> </tr> </table> </div> </div> <div style="text-align:justify;margin-left:36pt;line-height:1.25;clear:both"> </div> <div style="line-height:1.25"> <div style="text-align:justify;line-height:1.25"> <div style="line-height:1.25"> <div style="line-height:1.25"> <div style="line-height:1.25"> <div style="line-height:1.25"> <div style="line-height:1.25"> <div style="line-height:1.25"> <div style="line-height:1.25"> <table border="0" cellpadding="0" cellspacing="0" style="font-family:'Times New Roman', Times, serif;font-size:10pt;color:#000000;width:100%"> <tr> <td style="width:56pt"> </td> <td style="width:auto"> <div style="text-align:justify;line-height:1.25"> <div style="line-height:1.25"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>(*) Original cost includes ROU assets under capital lease in the amount of $140,308 and $153,159 as of December 31, 2025 and 2024, respectively. The depreciation expense of such assets amounted to $13,786 and $15,195 for the years ended December 31, 2025 and 2024, respectively.</span></span></span></span></div> <div style="text-indent:0.3pt;margin-left:56.7pt;line-height:1.25"> </div> <div style="line-height:1.25"> <div style="line-height:1.25"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>As of December 31, 2025 and 2024, the original cost of land, buildings, machinery and equipment was presented net of investment grants, in the aggregate amount of approximately $285,000.</span></span></span></span></div> </div> </div> </td> </tr> </table> </div> </div> </div> </div> </div> </div> </div> </div> </div> </div> <table border="0" cellpadding="0" cellspacing="0" style="width:85%;color:rgb(0, 0, 0);font-family:Times New Roman, Times, serif;font-size:10pt;text-align:left"> <tr> <td style="vertical-align:middle;padding-bottom:2px;vertical-align:bottom"> <div style="text-align:justify;line-height:1.25"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span><span><span>Details</span></span></span></span></span></span></div> </td> <td colspan="1" style="vertical-align:bottom;padding-bottom:2px;vertical-align:bottom"> </td> <td colspan="2" style="vertical-align:middle;border-bottom:#000000 solid 2px;vertical-align:bottom"> <div style="text-align:center;line-height:1.25"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span><span><span>2025</span></span></span></span></span></span></div> </td> <td colspan="1" style="vertical-align:bottom;padding-bottom:2px;vertical-align:bottom;white-space:nowrap"> </td> <td colspan="1" style="vertical-align:bottom;padding-bottom:2px;vertical-align:bottom"> </td> <td colspan="2" style="vertical-align:middle;border-bottom:#000000 solid 2px;vertical-align:bottom"> <div style="text-align:center;line-height:1.25"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span><span><span>2024</span></span></span></span></span></span></div> </td> <td colspan="1" style="vertical-align:bottom;padding-bottom:2px;vertical-align:bottom;white-space:nowrap"> </td> </tr> <tr> <td style="vertical-align:middle;background-color:rgb(204, 238, 255);vertical-align:bottom"> <div style="text-align:justify;line-height:1.25"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span><span><span>Original cost: (*)</span></span></span></span></span></span></div> </td> <td colspan="1" style="vertical-align:bottom;background-color:rgb(204, 238, 255);vertical-align:bottom"> </td> <td colspan="2" style="vertical-align:middle;background-color:rgb(204, 238, 255);vertical-align:bottom"> </td> <td colspan="1" style="vertical-align:bottom;background-color:rgb(204, 238, 255);vertical-align:bottom;white-space:nowrap"> </td> <td colspan="1" style="vertical-align:bottom;background-color:rgb(204, 238, 255);vertical-align:bottom"> </td> <td colspan="2" style="vertical-align:middle;background-color:rgb(204, 238, 255);vertical-align:bottom"> </td> <td colspan="1" style="vertical-align:bottom;background-color:rgb(204, 238, 255);vertical-align:bottom;white-space:nowrap"> </td> </tr> <tr> <td style="vertical-align:middle;width:76%;vertical-align:bottom"> <div style="line-height:1.25"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span><span><span>Land and buildings, including facility infrastructure</span></span></span></span></span></span></div> </td> <td colspan="1" style="vertical-align:bottom;width:1%;vertical-align:bottom"> </td> <td colspan="1" style="vertical-align:bottom;width:1%;vertical-align:bottom"> <div style="line-height:1.25"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span><span><span>$</span></span></span></span></span></span></div> </td> <td colspan="1" style="vertical-align:bottom;text-align:right;width:9%;vertical-align:bottom"> <div style="line-height:1.25"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>491,099</span></span></span></span></div> </td> <td colspan="1" style="vertical-align:bottom;width:1%;vertical-align:bottom;white-space:nowrap"> </td> <td colspan="1" style="vertical-align:bottom;width:1%;vertical-align:bottom"> </td> <td colspan="1" style="vertical-align:bottom;width:1%;vertical-align:bottom"> <div style="line-height:1.25"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span><span><span>$</span></span></span></span></span></span></div> </td> <td colspan="1" style="vertical-align:bottom;text-align:right;width:9%;vertical-align:bottom"> <div style="line-height:1.25"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>463,564</span></span></span></span></div> </td> <td colspan="1" style="vertical-align:bottom;width:1%;vertical-align:bottom;white-space:nowrap"> </td> </tr> <tr> <td style="vertical-align:middle;width:76%;padding-bottom:2px;background-color:rgb(204, 238, 255);vertical-align:bottom"> <div style="text-align:justify;line-height:1.25"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span><span><span>Machinery and equipment</span></span></span></span></span></span></div> </td> <td colspan="1" style="vertical-align:bottom;width:1%;padding-bottom:2px;background-color:rgb(204, 238, 255);vertical-align:bottom"> </td> <td colspan="1" style="vertical-align:bottom;width:1%;border-bottom:2px solid rgb(0, 0, 0);background-color:rgb(204, 238, 255);vertical-align:bottom"> </td> <td colspan="1" style="vertical-align:bottom;text-align:right;width:9%;border-bottom:2px solid rgb(0, 0, 0);background-color:rgb(204, 238, 255);vertical-align:bottom"> <div style="line-height:1.25"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>4,694,587</span></span></span></span></div> </td> <td colspan="1" style="vertical-align:bottom;width:1%;padding-bottom:2px;background-color:rgb(204, 238, 255);vertical-align:bottom;white-space:nowrap"> </td> <td colspan="1" style="vertical-align:bottom;width:1%;padding-bottom:2px;background-color:rgb(204, 238, 255);vertical-align:bottom"> </td> <td colspan="1" style="vertical-align:bottom;width:1%;border-bottom:2px solid rgb(0, 0, 0);background-color:rgb(204, 238, 255);vertical-align:bottom"> </td> <td colspan="1" style="vertical-align:bottom;text-align:right;width:9%;border-bottom:2px solid rgb(0, 0, 0);background-color:rgb(204, 238, 255);vertical-align:bottom"> <div style="line-height:1.25"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>4,281,817</span></span></span></span></div> </td> <td colspan="1" style="vertical-align:bottom;width:1%;padding-bottom:2px;background-color:rgb(204, 238, 255);vertical-align:bottom;white-space:nowrap"> </td> </tr> <tr> <td style="vertical-align:middle;width:76%;padding-bottom:2px;vertical-align:bottom"> </td> <td colspan="1" style="vertical-align:bottom;width:1%;padding-bottom:2px;vertical-align:bottom"> </td> <td colspan="1" style="vertical-align:bottom;width:1%;border-bottom:2px solid rgb(0, 0, 0);vertical-align:bottom"> </td> <td colspan="1" style="vertical-align:bottom;text-align:right;width:9%;border-bottom:2px solid rgb(0, 0, 0);vertical-align:bottom"> <div style="line-height:1.25"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>5,185,686</span></span></span></span></div> </td> <td colspan="1" style="vertical-align:bottom;width:1%;padding-bottom:2px;vertical-align:bottom;white-space:nowrap"> </td> <td colspan="1" style="vertical-align:bottom;width:1%;padding-bottom:2px;vertical-align:bottom"> </td> <td colspan="1" style="vertical-align:bottom;width:1%;border-bottom:2px solid rgb(0, 0, 0);vertical-align:bottom"> </td> <td colspan="1" style="vertical-align:bottom;text-align:right;width:9%;border-bottom:2px solid rgb(0, 0, 0);vertical-align:bottom"> <div style="line-height:1.25"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>4,745,381</span></span></span></span></div> </td> <td colspan="1" style="vertical-align:bottom;width:1%;padding-bottom:2px;vertical-align:bottom;white-space:nowrap"> </td> </tr> <tr> <td style="vertical-align:middle;width:76%;background-color:rgb(204, 238, 255);vertical-align:bottom"> <div style="text-align:justify;line-height:1.25"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span><span><span>Accumulated depreciation:</span></span></span></span></span></span></div> </td> <td colspan="1" style="vertical-align:bottom;width:1%;background-color:rgb(204, 238, 255);vertical-align:bottom"> </td> <td colspan="1" style="vertical-align:bottom;width:1%;background-color:rgb(204, 238, 255);vertical-align:bottom"> </td> <td colspan="1" style="vertical-align:bottom;text-align:right;width:9%;background-color:rgb(204, 238, 255);vertical-align:bottom"> </td> <td colspan="1" style="vertical-align:bottom;width:1%;background-color:rgb(204, 238, 255);vertical-align:bottom;white-space:nowrap"> </td> <td colspan="1" style="vertical-align:bottom;width:1%;background-color:rgb(204, 238, 255);vertical-align:bottom"> </td> <td colspan="1" style="vertical-align:bottom;width:1%;background-color:rgb(204, 238, 255);vertical-align:bottom"> </td> <td colspan="1" style="vertical-align:bottom;text-align:right;width:9%;background-color:rgb(204, 238, 255);vertical-align:bottom"> </td> <td colspan="1" style="vertical-align:bottom;width:1%;background-color:rgb(204, 238, 255);vertical-align:bottom;white-space:nowrap"> </td> </tr> <tr> <td style="vertical-align:middle;width:76%;vertical-align:bottom"> <div style="text-align:justify;line-height:1.25"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span><span><span>Buildings, including facility infrastructure</span></span></span></span></span></span></div> </td> <td colspan="1" style="vertical-align:bottom;width:1%;vertical-align:bottom"> </td> <td colspan="1" style="vertical-align:bottom;width:1%;vertical-align:bottom"> </td> <td colspan="1" style="vertical-align:bottom;text-align:right;width:9%;vertical-align:bottom"> <div style="line-height:1.25"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>(317,082</span></span></span></span></div> </td> <td colspan="1" style="vertical-align:bottom;width:1%;vertical-align:bottom;white-space:nowrap"> <div style="line-height:1.25"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span><span><span>)</span></span></span></span></span></span></div> </td> <td colspan="1" style="vertical-align:bottom;width:1%;vertical-align:bottom"> </td> <td colspan="1" style="vertical-align:bottom;width:1%;vertical-align:bottom"> </td> <td colspan="1" style="vertical-align:bottom;text-align:right;width:9%;vertical-align:bottom"> <div style="line-height:1.25"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>(303,041</span></span></span></span></div> </td> <td colspan="1" style="vertical-align:bottom;width:1%;vertical-align:bottom;white-space:nowrap"> <div style="line-height:1.25"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span><span><span>)</span></span></span></span></span></span></div> </td> </tr> <tr> <td style="vertical-align:middle;width:76%;padding-bottom:2px;background-color:rgb(204, 238, 255);vertical-align:bottom"> <div style="text-align:justify;line-height:1.25"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span><span><span>Machinery and equipment</span></span></span></span></span></span></div> </td> <td colspan="1" style="vertical-align:bottom;width:1%;padding-bottom:2px;background-color:rgb(204, 238, 255);vertical-align:bottom"> </td> <td colspan="1" style="vertical-align:bottom;width:1%;border-bottom:2px solid rgb(0, 0, 0);background-color:rgb(204, 238, 255);vertical-align:bottom"> </td> <td colspan="1" style="vertical-align:bottom;text-align:right;width:9%;border-bottom:2px solid rgb(0, 0, 0);background-color:rgb(204, 238, 255);vertical-align:bottom"> <div style="line-height:1.25"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>(3,405,548</span></span></span></span></div> </td> <td colspan="1" style="vertical-align:bottom;width:1%;padding-bottom:2px;background-color:rgb(204, 238, 255);vertical-align:bottom;white-space:nowrap"> <div style="line-height:1.25"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span><span><span>)</span></span></span></span></span></span></div> </td> <td colspan="1" style="vertical-align:bottom;width:1%;padding-bottom:2px;background-color:rgb(204, 238, 255);vertical-align:bottom"> </td> <td colspan="1" style="vertical-align:bottom;width:1%;border-bottom:2px solid rgb(0, 0, 0);background-color:rgb(204, 238, 255);vertical-align:bottom"> </td> <td colspan="1" style="vertical-align:bottom;text-align:right;width:9%;border-bottom:2px solid rgb(0, 0, 0);background-color:rgb(204, 238, 255);vertical-align:bottom"> <div style="line-height:1.25"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>(3,155,718</span></span></span></span></div> </td> <td colspan="1" style="vertical-align:bottom;width:1%;padding-bottom:2px;background-color:rgb(204, 238, 255);vertical-align:bottom;white-space:nowrap"> <div style="line-height:1.25"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span><span><span>)</span></span></span></span></span></span></div> </td> </tr> <tr> <td style="vertical-align:middle;width:76%;padding-bottom:2px;vertical-align:bottom"> </td> <td colspan="1" style="vertical-align:bottom;width:1%;padding-bottom:2px;vertical-align:bottom"> </td> <td colspan="1" style="vertical-align:bottom;width:1%;border-bottom:2px solid rgb(0, 0, 0);vertical-align:bottom"> </td> <td colspan="1" style="vertical-align:bottom;text-align:right;width:9%;border-bottom:2px solid rgb(0, 0, 0);vertical-align:bottom"> <div style="line-height:1.25"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>(3,722,630</span></span></span></span></div> </td> <td colspan="1" style="vertical-align:bottom;width:1%;padding-bottom:2px;vertical-align:bottom;white-space:nowrap"> <div style="line-height:1.25"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span><span><span>)</span></span></span></span></span></span></div> </td> <td colspan="1" style="vertical-align:bottom;width:1%;padding-bottom:2px;vertical-align:bottom"> </td> <td colspan="1" style="vertical-align:bottom;width:1%;border-bottom:2px solid rgb(0, 0, 0);vertical-align:bottom"> </td> <td colspan="1" style="vertical-align:bottom;text-align:right;width:9%;border-bottom:2px solid rgb(0, 0, 0);vertical-align:bottom"> <div style="line-height:1.25"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>(3,458,759</span></span></span></span></div> </td> <td colspan="1" style="vertical-align:bottom;width:1%;padding-bottom:2px;vertical-align:bottom;white-space:nowrap"> <div style="line-height:1.25"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span><span><span>)</span></span></span></span></span></span></div> </td> </tr> <tr> <td style="vertical-align:middle;width:76%;padding-bottom:4px;background-color:rgb(204, 238, 255);vertical-align:bottom"> </td> <td colspan="1" style="vertical-align:bottom;width:1%;padding-bottom:4px;background-color:rgb(204, 238, 255);vertical-align:bottom"> </td> <td colspan="1" style="vertical-align:bottom;width:1%;border-bottom:4px double rgb(0, 0, 0);background-color:rgb(204, 238, 255);vertical-align:bottom"> <div style="line-height:1.25"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span><span><span>$</span></span></span></span></span></span></div> </td> <td colspan="1" style="vertical-align:bottom;text-align:right;width:9%;border-bottom:4px double rgb(0, 0, 0);background-color:rgb(204, 238, 255);vertical-align:bottom"> <div style="line-height:1.25"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>1,463,056</span></span></span></span></div> </td> <td colspan="1" style="vertical-align:bottom;width:1%;padding-bottom:4px;background-color:rgb(204, 238, 255);vertical-align:bottom;white-space:nowrap"> </td> <td colspan="1" style="vertical-align:bottom;width:1%;padding-bottom:4px;background-color:rgb(204, 238, 255);vertical-align:bottom"> </td> <td colspan="1" style="vertical-align:bottom;width:1%;border-bottom:4px double rgb(0, 0, 0);background-color:rgb(204, 238, 255);vertical-align:bottom"> <div style="line-height:1.25"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span><span><span>$</span></span></span></span></span></span></div> </td> <td colspan="1" style="vertical-align:bottom;text-align:right;width:9%;border-bottom:4px double rgb(0, 0, 0);background-color:rgb(204, 238, 255);vertical-align:bottom"> <div style="line-height:1.25"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>1,286,622</span></span></span></span></div> </td> <td colspan="1" style="vertical-align:bottom;width:1%;padding-bottom:4px;background-color:rgb(204, 238, 255);vertical-align:bottom;white-space:nowrap"> </td> </tr> </table> 491099000 463564000 4694587000 4281817000 5185686000 4745381000 317082000 303041000 3405548000 3155718000 3722630000 3458759000 1463056000 1286622000 140308000 153159000 13786000 15195000 285000000 285000000 <div> <div style="line-height:1.25"> <div style="line-height:1.25"> <div style="line-height:1.25"> <div style="line-height:1.25"> <div style="line-height:1.25"> <div style="line-height:1.25"> <div style="line-height:1.25"> <div style="line-height:1.25"> <table border="0" cellpadding="0" cellspacing="0" style="font-family:'Times New Roman', Times, serif;font-size:10pt;color:#000000;width:100%"> <tr> <td style="width:56pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span style="font-weight:bold">NOTE 6:</span></span></span></td> <td style="width:auto"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span style="font-weight:bold">INTANGIBLE ASSETS, NET</span></span></span></td> </tr> </table> <div> </div> </div> </div> </div> </div> </div> </div> </div> </div> <div> <div style="line-height:1.25"> <div style="line-height:1.25"> <div style="line-height:1.25"> <div style="line-height:1.25"> <div style="line-height:1.25"> <div style="line-height:1.25"> <div style="line-height:1.25"> <div style="line-height:1.25"> <table border="0" cellpadding="0" cellspacing="0" style="font-family:'Times New Roman', Times, serif;font-size:10pt;color:#000000;width:100%"> <tr> <td style="width:56pt"> </td> <td style="width:auto"> <div style="text-align:justify;line-height:1.25"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">Intangible assets, net consist of the following as of December 31, 2025:</span></span></div> </td> </tr> </table> <div> </div> </div> </div> </div> </div> </div> </div> </div> </div> <div style="margin-left:72pt"> <table border="0" cellpadding="0" cellspacing="0" style="width:85%;color:rgb(0, 0, 0);font-family:Times New Roman, Times, serif;font-size:10pt;text-align:left"> <tr> <td style="vertical-align:middle;padding-bottom:2px;vertical-align:bottom"> <div style="text-align:justify;line-height:1.25"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>Details</span></span></span></span></div> </td> <td colspan="1" style="vertical-align:bottom;padding-bottom:2px;vertical-align:bottom"> </td> <td style="vertical-align:bottom;border-bottom:2px solid rgb(0, 0, 0);text-align:center;margin-top:0pt;margin-bottom:0pt"> <div style="line-height:1.25;margin-top:0pt;margin-bottom:0pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span><span style="margin-top:0pt;margin-bottom:0pt"><span style="margin-top:0pt;margin-bottom:0pt">Useful life</span></span></span></span></span></span></div> <div style="line-height:1.25;margin-top:0pt;margin-bottom:0pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span><span style="margin-top:0pt;margin-bottom:0pt"><span style="margin-top:0pt;margin-bottom:0pt">(years)</span></span></span></span></span></span></div> </td> <td colspan="1" style="text-align:center;vertical-align:bottom;padding-bottom:2px;white-space:nowrap"> </td> <td colspan="1" style="vertical-align:bottom;padding-bottom:2px;text-align:center"> </td> <td colspan="2" style="vertical-align:bottom;border-bottom:2px solid rgb(0, 0, 0);text-align:center"> <div style="line-height:1.25"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span><span><span>Cost</span></span></span></span></span></span></div> </td> <td colspan="1" style="text-align:center;vertical-align:bottom;padding-bottom:2px;white-space:nowrap"> </td> <td colspan="1" style="vertical-align:bottom;padding-bottom:2px;text-align:center"> </td> <td colspan="2" style="vertical-align:bottom;border-bottom:2px solid rgb(0, 0, 0);text-align:center;margin-top:0pt;margin-bottom:0pt"> <div style="line-height:1.25;margin-top:0pt;margin-bottom:0pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span><span style="margin-top:0pt;margin-bottom:0pt"><span style="margin-top:0pt;margin-bottom:0pt">Accumulated</span></span></span></span></span></span></div> <div style="line-height:1.25;margin-top:0pt;margin-bottom:0pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span><span style="margin-top:0pt;margin-bottom:0pt"><span style="margin-top:0pt;margin-bottom:0pt">Amortization</span></span></span></span></span></span></div> </td> <td colspan="1" style="text-align:center;vertical-align:bottom;padding-bottom:2px;white-space:nowrap"> </td> <td colspan="1" style="vertical-align:bottom;padding-bottom:2px;text-align:center"> </td> <td colspan="2" style="vertical-align:bottom;border-bottom:2px solid rgb(0, 0, 0);text-align:center"> <div style="line-height:1.25"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span><span><span>Net</span></span></span></span></span></span></div> </td> <td colspan="1" style="vertical-align:bottom;padding-bottom:2px;vertical-align:bottom;white-space:nowrap"> </td> </tr> <tr> <td style="vertical-align:middle;width:50.65%;background-color:rgb(204, 238, 255);vertical-align:bottom"> <div style="text-align:justify;line-height:1.25"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>Facilities’ lease</span></span></span></span></div> </td> <td colspan="1" style="vertical-align:bottom;width:0.97%;background-color:rgb(204, 238, 255);vertical-align:bottom"> </td> <td colspan="1" style="vertical-align:bottom;text-align:right;width:8.93%;background-color:rgb(204, 238, 255);vertical-align:bottom"> <div style="line-height:1.25;text-align:center"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>19</span></span></span></span></div> </td> <td colspan="1" style="vertical-align:bottom;width:0.97%;background-color:rgb(204, 238, 255);vertical-align:bottom;white-space:nowrap"> </td> <td colspan="1" style="vertical-align:bottom;width:0.97%;background-color:rgb(204, 238, 255);vertical-align:bottom"> </td> <td colspan="1" style="vertical-align:bottom;width:1.46%;background-color:rgb(204, 238, 255);vertical-align:bottom"> <div style="line-height:1.25"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>$</span></span></span></span></div> </td> <td colspan="1" style="vertical-align:bottom;text-align:right;width:8.93%;background-color:rgb(204, 238, 255);vertical-align:bottom"> <div style="line-height:1.25"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">33,500</span></span></div> </td> <td colspan="1" style="vertical-align:bottom;width:0.97%;background-color:rgb(204, 238, 255);vertical-align:bottom;white-space:nowrap"> </td> <td colspan="1" style="vertical-align:bottom;width:0.97%;background-color:rgb(204, 238, 255);vertical-align:bottom"> </td> <td colspan="1" style="vertical-align:bottom;width:1.79%;background-color:rgb(204, 238, 255);vertical-align:bottom"> <div style="line-height:1.25"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>$</span></span></span></span></div> </td> <td colspan="1" style="vertical-align:bottom;text-align:right;width:10.06%;background-color:rgb(204, 238, 255);vertical-align:bottom"> <div style="line-height:1.25"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">(31,970</span></span></div> </td> <td colspan="1" style="vertical-align:bottom;width:0.97%;background-color:rgb(204, 238, 255);vertical-align:bottom;white-space:nowrap"> <div style="line-height:1.25"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>)</span></span></span></span></div> </td> <td colspan="1" style="vertical-align:bottom;width:0.97%;background-color:rgb(204, 238, 255);vertical-align:bottom"> </td> <td colspan="1" style="vertical-align:bottom;width:1.46%;background-color:rgb(204, 238, 255);vertical-align:bottom"> <div style="line-height:1.25"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>$</span></span></span></span></div> </td> <td colspan="1" style="vertical-align:bottom;text-align:right;width:8.93%;background-color:rgb(204, 238, 255);vertical-align:bottom"> <div style="line-height:1.25"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">1,530</span></span></div> </td> <td colspan="1" style="vertical-align:bottom;width:0.97%;background-color:rgb(204, 238, 255);vertical-align:bottom;white-space:nowrap"> </td> </tr> <tr> <td style="vertical-align:middle;width:50.65%;vertical-align:bottom"> <div style="text-align:justify;line-height:1.25"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>Technologies</span></span></span></span></div> </td> <td colspan="1" style="vertical-align:bottom;width:0.97%;vertical-align:bottom"> </td> <td colspan="1" style="vertical-align:bottom;text-align:right;width:8.93%;vertical-align:bottom"> <div style="line-height:1.25;text-align:center"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>10-20</span></span></span></span></div> </td> <td colspan="1" style="vertical-align:bottom;width:0.97%;vertical-align:bottom;white-space:nowrap"> </td> <td colspan="1" style="vertical-align:bottom;width:0.97%;vertical-align:bottom"> </td> <td colspan="1" style="vertical-align:bottom;width:1.46%;vertical-align:bottom"> </td> <td colspan="1" style="vertical-align:bottom;text-align:right;width:8.93%;vertical-align:bottom"> <div style="line-height:1.25"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">6,700</span></span></div> </td> <td colspan="1" style="vertical-align:bottom;width:0.97%;vertical-align:bottom;white-space:nowrap"> </td> <td colspan="1" style="vertical-align:bottom;width:0.97%;vertical-align:bottom"> </td> <td colspan="1" style="vertical-align:bottom;width:1.79%;vertical-align:bottom"> </td> <td colspan="1" style="vertical-align:bottom;text-align:right;width:10.06%;vertical-align:bottom"> <div style="line-height:1.25"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">(6,700</span></span></div> </td> <td colspan="1" style="vertical-align:bottom;width:0.97%;vertical-align:bottom;white-space:nowrap"> <div style="line-height:1.25"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>)</span></span></span></span></div> </td> <td colspan="1" style="vertical-align:bottom;width:0.97%;vertical-align:bottom"> </td> <td colspan="1" style="vertical-align:bottom;width:1.46%;vertical-align:bottom"> </td> <td colspan="1" style="vertical-align:bottom;text-align:right;width:8.93%;vertical-align:bottom"> <div style="line-height:1.25"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">-</span></span></div> </td> <td colspan="1" style="vertical-align:bottom;width:0.97%;vertical-align:bottom;white-space:nowrap"> </td> </tr> <tr> <td style="vertical-align:middle;width:50.65%;background-color:rgb(204, 238, 255);padding-bottom:2px;vertical-align:bottom"> <div style="text-align:justify;line-height:1.25"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>Customer relationships</span></span></span></span></div> </td> <td colspan="1" style="vertical-align:bottom;width:0.97%;background-color:rgb(204, 238, 255);padding-bottom:2px;vertical-align:bottom"> </td> <td colspan="1" style="vertical-align:bottom;text-align:right;width:8.93%;background-color:rgb(204, 238, 255);padding-bottom:2px;vertical-align:bottom"> <div style="line-height:1.25;text-align:center"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>15</span></span></span></span></div> </td> <td colspan="1" style="vertical-align:bottom;width:0.97%;background-color:rgb(204, 238, 255);padding-bottom:2px;vertical-align:bottom;white-space:nowrap"> </td> <td colspan="1" style="vertical-align:bottom;width:0.97%;background-color:rgb(204, 238, 255);padding-bottom:2px;vertical-align:bottom"> </td> <td colspan="1" style="vertical-align:bottom;width:1.46%;background-color:rgb(204, 238, 255);border-bottom:2px solid rgb(0, 0, 0);vertical-align:bottom"> </td> <td colspan="1" style="vertical-align:bottom;text-align:right;width:8.93%;background-color:rgb(204, 238, 255);border-bottom:2px solid rgb(0, 0, 0);vertical-align:bottom"> <div style="line-height:1.25"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">2,600</span></span></div> </td> <td colspan="1" style="vertical-align:bottom;width:0.97%;background-color:rgb(204, 238, 255);padding-bottom:2px;vertical-align:bottom;white-space:nowrap"> </td> <td colspan="1" style="vertical-align:bottom;width:0.97%;background-color:rgb(204, 238, 255);padding-bottom:2px;vertical-align:bottom"> </td> <td colspan="1" style="vertical-align:bottom;width:1.79%;background-color:rgb(204, 238, 255);border-bottom:2px solid rgb(0, 0, 0);vertical-align:bottom"> </td> <td colspan="1" style="vertical-align:bottom;text-align:right;width:10.06%;background-color:rgb(204, 238, 255);border-bottom:2px solid rgb(0, 0, 0);vertical-align:bottom"> <div style="line-height:1.25"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">(2,600</span></span></div> </td> <td colspan="1" style="vertical-align:bottom;width:0.97%;background-color:rgb(204, 238, 255);padding-bottom:2px;vertical-align:bottom;white-space:nowrap"> <div style="line-height:1.25"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>)</span></span></span></span></div> </td> <td colspan="1" style="vertical-align:bottom;width:0.97%;background-color:rgb(204, 238, 255);padding-bottom:2px;vertical-align:bottom"> </td> <td colspan="1" style="vertical-align:bottom;width:1.46%;background-color:rgb(204, 238, 255);border-bottom:2px solid rgb(0, 0, 0);vertical-align:bottom"> </td> <td colspan="1" style="vertical-align:bottom;text-align:right;width:8.93%;background-color:rgb(204, 238, 255);border-bottom:2px solid rgb(0, 0, 0);vertical-align:bottom"> <div style="line-height:1.25"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">-</span></span></div> </td> <td colspan="1" style="vertical-align:bottom;width:0.97%;background-color:rgb(204, 238, 255);padding-bottom:2px;vertical-align:bottom;white-space:nowrap"> </td> </tr> <tr> <td style="vertical-align:middle;width:50.65%;padding-bottom:4px;vertical-align:bottom"> <div style="text-align:justify;line-height:1.25"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>Total identifiable intangible assets</span></span></span></span></div> </td> <td colspan="1" style="vertical-align:bottom;width:0.97%;padding-bottom:4px;vertical-align:bottom"> </td> <td colspan="1" style="vertical-align:bottom;text-align:right;width:8.93%;padding-bottom:4px;vertical-align:bottom"> </td> <td colspan="1" style="vertical-align:bottom;width:0.97%;padding-bottom:4px;vertical-align:bottom;white-space:nowrap"> </td> <td colspan="1" style="vertical-align:bottom;width:0.97%;padding-bottom:4px;vertical-align:bottom"> </td> <td colspan="1" style="vertical-align:bottom;width:1.46%;border-bottom:4px double rgb(0, 0, 0);vertical-align:bottom"> <div style="line-height:1.25"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>$</span></span></span></span></div> </td> <td colspan="1" style="vertical-align:bottom;text-align:right;width:8.93%;border-bottom:4px double rgb(0, 0, 0);vertical-align:bottom"> <div style="line-height:1.25"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">42,800</span></span></div> </td> <td colspan="1" style="vertical-align:bottom;width:0.97%;padding-bottom:4px;vertical-align:bottom;white-space:nowrap"> </td> <td colspan="1" style="vertical-align:bottom;width:0.97%;padding-bottom:4px;vertical-align:bottom"> </td> <td colspan="1" style="vertical-align:bottom;width:1.79%;border-bottom:4px double rgb(0, 0, 0);vertical-align:bottom"> <div style="line-height:1.25"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>$</span></span></span></span></div> </td> <td colspan="1" style="vertical-align:bottom;text-align:right;width:10.06%;border-bottom:4px double rgb(0, 0, 0);vertical-align:bottom"> <div style="line-height:1.25"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">(41,270</span></span></div> </td> <td colspan="1" style="vertical-align:bottom;width:0.97%;padding-bottom:4px;vertical-align:bottom;white-space:nowrap"> <div style="line-height:1.25"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>)</span></span></span></span></div> </td> <td colspan="1" style="vertical-align:bottom;width:0.97%;padding-bottom:4px;vertical-align:bottom"> </td> <td colspan="1" style="vertical-align:bottom;width:1.46%;border-bottom:4px double rgb(0, 0, 0);vertical-align:bottom"> <div style="line-height:1.25"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>$</span></span></span></span></div> </td> <td colspan="1" style="vertical-align:bottom;text-align:right;width:8.93%;border-bottom:4px double rgb(0, 0, 0);vertical-align:bottom"> <div style="line-height:1.25"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">1,530</span></span></div> </td> <td colspan="1" style="vertical-align:bottom;width:0.97%;padding-bottom:4px;vertical-align:bottom;white-space:nowrap"> </td> </tr> </table> </div> <div style="line-height:1.25;clear:both"> </div> <div style="line-height:1.25"> <div style="line-height:1.25"> <div style="line-height:1.25"> <div style="line-height:1.25"> <div style="line-height:1.25"> <div style="line-height:1.25"> <div style="line-height:1.25"> <div style="line-height:1.25"> <div style="line-height:1.25"> <table border="0" cellpadding="0" cellspacing="0" style="font-family:'Times New Roman', Times, serif;font-size:10pt;color:#000000;width:100%"> <tr> <td style="width:56pt"> </td> <td style="width:auto"> <div style="text-align:justify;line-height:1.25"> <div style="line-height:1.25"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">Intangible assets, net consist of the following as of December 31, 2024:</span></span></div> </div> </td> </tr> </table> <div> </div> </div> </div> </div> </div> </div> </div> </div> </div> </div> <div style="margin-left:72pt"> <table border="0" cellpadding="0" cellspacing="0" style="width:85%;color:rgb(0, 0, 0);font-family:Times New Roman, Times, serif;font-size:10pt;text-align:left"> <tr> <td style="vertical-align:middle;padding-bottom:2px;vertical-align:bottom"> <div style="text-align:justify;line-height:1.25"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>Details</span></span></span></span></div> </td> <td colspan="1" style="vertical-align:bottom;padding-bottom:2px;vertical-align:bottom"> </td> <td style="vertical-align:bottom;border-bottom:2px solid rgb(0, 0, 0);text-align:center;margin-top:0pt;margin-bottom:0pt"> <div style="line-height:1.25;margin-top:0pt;margin-bottom:0pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span><span style="margin-top:0pt;margin-bottom:0pt"><span style="margin-top:0pt;margin-bottom:0pt">Useful life</span></span></span></span></span></span></div> <div style="line-height:1.25;margin-top:0pt;margin-bottom:0pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span><span style="margin-top:0pt;margin-bottom:0pt"><span style="margin-top:0pt;margin-bottom:0pt">(years)</span></span></span></span></span></span></div> </td> <td colspan="1" style="text-align:center;vertical-align:bottom;padding-bottom:2px;white-space:nowrap"> </td> <td colspan="1" style="vertical-align:bottom;padding-bottom:2px;text-align:center"> </td> <td colspan="2" style="vertical-align:bottom;border-bottom:2px solid rgb(0, 0, 0);text-align:center"> <div style="line-height:1.25"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span><span><span>Cost</span></span></span></span></span></span></div> </td> <td colspan="1" style="text-align:center;vertical-align:bottom;padding-bottom:2px;white-space:nowrap"> </td> <td colspan="1" style="vertical-align:bottom;padding-bottom:2px;text-align:center"> </td> <td colspan="2" style="vertical-align:bottom;border-bottom:2px solid rgb(0, 0, 0);text-align:center;margin-top:0pt;margin-bottom:0pt"> <div style="line-height:1.25;margin-top:0pt;margin-bottom:0pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span><span style="margin-top:0pt;margin-bottom:0pt"><span style="margin-top:0pt;margin-bottom:0pt">Accumulated</span></span></span></span></span></span></div> <div style="line-height:1.25;margin-top:0pt;margin-bottom:0pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span><span style="margin-top:0pt;margin-bottom:0pt"><span style="margin-top:0pt;margin-bottom:0pt">Amortization</span></span></span></span></span></span></div> </td> <td colspan="1" style="text-align:center;vertical-align:bottom;padding-bottom:2px;white-space:nowrap"> </td> <td colspan="1" style="vertical-align:bottom;padding-bottom:2px;text-align:center"> </td> <td colspan="2" style="vertical-align:bottom;border-bottom:2px solid rgb(0, 0, 0);text-align:center"> <div style="line-height:1.25"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span><span><span>Net</span></span></span></span></span></span></div> </td> <td colspan="1" style="vertical-align:bottom;padding-bottom:2px;vertical-align:bottom;white-space:nowrap"> </td> </tr> <tr> <td style="vertical-align:middle;width:50.65%;background-color:rgb(204, 238, 255);vertical-align:bottom"> <div style="text-align:justify;line-height:1.25"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>Facilities’ lease</span></span></span></span></div> </td> <td colspan="1" style="vertical-align:bottom;width:0.97%;background-color:rgb(204, 238, 255);vertical-align:bottom"> </td> <td colspan="1" style="vertical-align:bottom;text-align:right;width:8.93%;background-color:rgb(204, 238, 255);vertical-align:bottom"> <div style="line-height:1.25;text-align:center"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>19</span></span></span></span></div> </td> <td colspan="1" style="vertical-align:bottom;width:0.97%;background-color:rgb(204, 238, 255);vertical-align:bottom;white-space:nowrap"> </td> <td colspan="1" style="vertical-align:bottom;width:0.97%;background-color:rgb(204, 238, 255);vertical-align:bottom"> </td> <td colspan="1" style="vertical-align:bottom;width:1.46%;background-color:rgb(204, 238, 255);vertical-align:bottom"> <div style="line-height:1.25"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>$</span></span></span></span></div> </td> <td colspan="1" style="vertical-align:bottom;text-align:right;width:8.93%;background-color:rgb(204, 238, 255);vertical-align:bottom"> <div style="line-height:1.25"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">33,500</span></span></div> </td> <td colspan="1" style="vertical-align:bottom;width:0.97%;background-color:rgb(204, 238, 255);vertical-align:bottom;white-space:nowrap"> </td> <td colspan="1" style="vertical-align:bottom;width:0.97%;background-color:rgb(204, 238, 255);vertical-align:bottom"> </td> <td colspan="1" style="vertical-align:bottom;width:1.79%;background-color:rgb(204, 238, 255);vertical-align:bottom"> <div style="line-height:1.25"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>$</span></span></span></span></div> </td> <td colspan="1" style="vertical-align:bottom;text-align:right;width:10.06%;background-color:rgb(204, 238, 255);vertical-align:bottom"> <div style="line-height:1.25"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">(30,682</span></span></div> </td> <td colspan="1" style="vertical-align:bottom;width:0.97%;background-color:rgb(204, 238, 255);vertical-align:bottom;white-space:nowrap"> <div style="line-height:1.25"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>)</span></span></span></span></div> </td> <td colspan="1" style="vertical-align:bottom;width:0.97%;background-color:rgb(204, 238, 255);vertical-align:bottom"> </td> <td colspan="1" style="vertical-align:bottom;width:1.46%;background-color:rgb(204, 238, 255);vertical-align:bottom"> <div style="line-height:1.25"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>$</span></span></span></span></div> </td> <td colspan="1" style="vertical-align:bottom;text-align:right;width:8.93%;background-color:rgb(204, 238, 255);vertical-align:bottom"> <div style="line-height:1.25"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">2,818</span></span></div> </td> <td colspan="1" style="vertical-align:bottom;width:0.97%;background-color:rgb(204, 238, 255);vertical-align:bottom;white-space:nowrap"> </td> </tr> <tr> <td style="vertical-align:middle;width:50.65%;vertical-align:bottom"> <div style="text-align:justify;line-height:1.25"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>Technologies</span></span></span></span></div> </td> <td colspan="1" style="vertical-align:bottom;width:0.97%;vertical-align:bottom"> </td> <td colspan="1" style="vertical-align:bottom;text-align:right;width:8.93%;vertical-align:bottom"> <div style="line-height:1.25;text-align:center"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>10-20</span></span></span></span></div> </td> <td colspan="1" style="vertical-align:bottom;width:0.97%;vertical-align:bottom;white-space:nowrap"> </td> <td colspan="1" style="vertical-align:bottom;width:0.97%;vertical-align:bottom"> </td> <td colspan="1" style="vertical-align:bottom;width:1.46%;vertical-align:bottom"> </td> <td colspan="1" style="vertical-align:bottom;text-align:right;width:8.93%;vertical-align:bottom"> <div style="line-height:1.25"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">6,700</span></span></div> </td> <td colspan="1" style="vertical-align:bottom;width:0.97%;vertical-align:bottom;white-space:nowrap"> </td> <td colspan="1" style="vertical-align:bottom;width:0.97%;vertical-align:bottom"> </td> <td colspan="1" style="vertical-align:bottom;width:1.79%;vertical-align:bottom"> </td> <td colspan="1" style="vertical-align:bottom;text-align:right;width:10.06%;vertical-align:bottom"> <div style="line-height:1.25"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">(6,322</span></span></div> </td> <td colspan="1" style="vertical-align:bottom;width:0.97%;vertical-align:bottom;white-space:nowrap"> <div style="line-height:1.25"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>)</span></span></span></span></div> </td> <td colspan="1" style="vertical-align:bottom;width:0.97%;vertical-align:bottom"> </td> <td colspan="1" style="vertical-align:bottom;width:1.46%;vertical-align:bottom"> </td> <td colspan="1" style="vertical-align:bottom;text-align:right;width:8.93%;vertical-align:bottom"> <div style="line-height:1.25"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">378</span></span></div> </td> <td colspan="1" style="vertical-align:bottom;width:0.97%;vertical-align:bottom;white-space:nowrap"> </td> </tr> <tr> <td style="vertical-align:middle;width:50.65%;background-color:rgb(204, 238, 255);padding-bottom:2px;vertical-align:bottom"> <div style="text-align:justify;line-height:1.25"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>Customer relationships</span></span></span></span></div> </td> <td colspan="1" style="vertical-align:bottom;width:0.97%;background-color:rgb(204, 238, 255);padding-bottom:2px;vertical-align:bottom"> </td> <td colspan="1" style="vertical-align:bottom;text-align:right;width:8.93%;background-color:rgb(204, 238, 255);padding-bottom:2px;vertical-align:bottom"> <div style="line-height:1.25;text-align:center"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>15</span></span></span></span></div> </td> <td colspan="1" style="vertical-align:bottom;width:0.97%;background-color:rgb(204, 238, 255);padding-bottom:2px;vertical-align:bottom;white-space:nowrap"> </td> <td colspan="1" style="vertical-align:bottom;width:0.97%;background-color:rgb(204, 238, 255);padding-bottom:2px;vertical-align:bottom"> </td> <td colspan="1" style="vertical-align:bottom;width:1.46%;background-color:rgb(204, 238, 255);border-bottom:2px solid rgb(0, 0, 0);vertical-align:bottom"> </td> <td colspan="1" style="vertical-align:bottom;text-align:right;width:8.93%;background-color:rgb(204, 238, 255);border-bottom:2px solid rgb(0, 0, 0);vertical-align:bottom"> <div style="line-height:1.25"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">2,600</span></span></div> </td> <td colspan="1" style="vertical-align:bottom;width:0.97%;background-color:rgb(204, 238, 255);padding-bottom:2px;vertical-align:bottom;white-space:nowrap"> </td> <td colspan="1" style="vertical-align:bottom;width:0.97%;background-color:rgb(204, 238, 255);padding-bottom:2px;vertical-align:bottom"> </td> <td colspan="1" style="vertical-align:bottom;width:1.79%;background-color:rgb(204, 238, 255);border-bottom:2px solid rgb(0, 0, 0);vertical-align:bottom"> </td> <td colspan="1" style="vertical-align:bottom;text-align:right;width:10.06%;background-color:rgb(204, 238, 255);border-bottom:2px solid rgb(0, 0, 0);vertical-align:bottom"> <div style="line-height:1.25"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">(2,600</span></span></div> </td> <td colspan="1" style="vertical-align:bottom;width:0.97%;background-color:rgb(204, 238, 255);padding-bottom:2px;vertical-align:bottom;white-space:nowrap"> <div style="line-height:1.25"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>)</span></span></span></span></div> </td> <td colspan="1" style="vertical-align:bottom;width:0.97%;background-color:rgb(204, 238, 255);padding-bottom:2px;vertical-align:bottom"> </td> <td colspan="1" style="vertical-align:bottom;width:1.46%;background-color:rgb(204, 238, 255);border-bottom:2px solid rgb(0, 0, 0);vertical-align:bottom"> </td> <td colspan="1" style="vertical-align:bottom;text-align:right;width:8.93%;background-color:rgb(204, 238, 255);border-bottom:2px solid rgb(0, 0, 0);vertical-align:bottom"> <div style="line-height:1.25"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">-</span></span></div> </td> <td colspan="1" style="vertical-align:bottom;width:0.97%;background-color:rgb(204, 238, 255);padding-bottom:2px;vertical-align:bottom;white-space:nowrap"> </td> </tr> <tr> <td style="vertical-align:middle;width:50.65%;padding-bottom:4px;vertical-align:bottom"> <div style="text-align:justify;line-height:1.25"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>Total identifiable intangible assets</span></span></span></span></div> </td> <td colspan="1" style="vertical-align:bottom;width:0.97%;padding-bottom:4px;vertical-align:bottom"> </td> <td colspan="1" style="vertical-align:bottom;text-align:right;width:8.93%;padding-bottom:4px;vertical-align:bottom"> </td> <td colspan="1" style="vertical-align:bottom;width:0.97%;padding-bottom:4px;vertical-align:bottom;white-space:nowrap"> </td> <td colspan="1" style="vertical-align:bottom;width:0.97%;padding-bottom:4px;vertical-align:bottom"> </td> <td colspan="1" style="vertical-align:bottom;width:1.46%;border-bottom:4px double rgb(0, 0, 0);vertical-align:bottom"> <div style="line-height:1.25"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>$</span></span></span></span></div> </td> <td colspan="1" style="vertical-align:bottom;text-align:right;width:8.93%;border-bottom:4px double rgb(0, 0, 0);vertical-align:bottom"> <div style="line-height:1.25"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">42,800</span></span></div> </td> <td colspan="1" style="vertical-align:bottom;width:0.97%;padding-bottom:4px;vertical-align:bottom;white-space:nowrap"> </td> <td colspan="1" style="vertical-align:bottom;width:0.97%;padding-bottom:4px;vertical-align:bottom"> </td> <td colspan="1" style="vertical-align:bottom;width:1.79%;border-bottom:4px double rgb(0, 0, 0);vertical-align:bottom"> <div style="line-height:1.25"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>$</span></span></span></span></div> </td> <td colspan="1" style="vertical-align:bottom;text-align:right;width:10.06%;border-bottom:4px double rgb(0, 0, 0);vertical-align:bottom"> <div style="line-height:1.25"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">(39,604</span></span></div> </td> <td colspan="1" style="vertical-align:bottom;width:0.97%;padding-bottom:4px;vertical-align:bottom;white-space:nowrap"> <div style="line-height:1.25"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>)</span></span></span></span></div> </td> <td colspan="1" style="vertical-align:bottom;width:0.97%;padding-bottom:4px;vertical-align:bottom"> </td> <td colspan="1" style="vertical-align:bottom;width:1.46%;border-bottom:4px double rgb(0, 0, 0);vertical-align:bottom"> <div style="line-height:1.25"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>$</span></span></span></span></div> </td> <td colspan="1" style="vertical-align:bottom;text-align:right;width:8.93%;border-bottom:4px double rgb(0, 0, 0);vertical-align:bottom"> <div style="line-height:1.25"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">3,196</span></span></div> </td> <td colspan="1" style="vertical-align:bottom;width:0.97%;padding-bottom:4px;vertical-align:bottom;white-space:nowrap"> </td> </tr> </table> </div> </div> </div> <div> <div style="line-height:1.25"> <div style="line-height:1.25"> <div style="line-height:1.25"> <div style="line-height:1.25"> <div style="line-height:1.25"> <div style="line-height:1.25"> <div style="line-height:1.25"> <div style="line-height:1.25"> <table border="0" cellpadding="0" cellspacing="0" style="font-family:'Times New Roman', Times, serif;font-size:10pt;color:#000000;width:100%"> <tr> <td style="width:56pt"> </td> <td style="width:auto"> <div style="text-align:justify;line-height:1.25"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">Intangible assets, net consist of the following as of December 31, 2025:</span></span></div> </td> </tr> </table> <div> </div> </div> </div> </div> </div> </div> </div> </div> </div> <div style="margin-left:72pt"> <table border="0" cellpadding="0" cellspacing="0" style="width:85%;color:rgb(0, 0, 0);font-family:Times New Roman, Times, serif;font-size:10pt;text-align:left"> <tr> <td style="vertical-align:middle;padding-bottom:2px;vertical-align:bottom"> <div style="text-align:justify;line-height:1.25"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>Details</span></span></span></span></div> </td> <td colspan="1" style="vertical-align:bottom;padding-bottom:2px;vertical-align:bottom"> </td> <td style="vertical-align:bottom;border-bottom:2px solid rgb(0, 0, 0);text-align:center;margin-top:0pt;margin-bottom:0pt"> <div style="line-height:1.25;margin-top:0pt;margin-bottom:0pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span><span style="margin-top:0pt;margin-bottom:0pt"><span style="margin-top:0pt;margin-bottom:0pt">Useful life</span></span></span></span></span></span></div> <div style="line-height:1.25;margin-top:0pt;margin-bottom:0pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span><span style="margin-top:0pt;margin-bottom:0pt"><span style="margin-top:0pt;margin-bottom:0pt">(years)</span></span></span></span></span></span></div> </td> <td colspan="1" style="text-align:center;vertical-align:bottom;padding-bottom:2px;white-space:nowrap"> </td> <td colspan="1" style="vertical-align:bottom;padding-bottom:2px;text-align:center"> </td> <td colspan="2" style="vertical-align:bottom;border-bottom:2px solid rgb(0, 0, 0);text-align:center"> <div style="line-height:1.25"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span><span><span>Cost</span></span></span></span></span></span></div> </td> <td colspan="1" style="text-align:center;vertical-align:bottom;padding-bottom:2px;white-space:nowrap"> </td> <td colspan="1" style="vertical-align:bottom;padding-bottom:2px;text-align:center"> </td> <td colspan="2" style="vertical-align:bottom;border-bottom:2px solid rgb(0, 0, 0);text-align:center;margin-top:0pt;margin-bottom:0pt"> <div style="line-height:1.25;margin-top:0pt;margin-bottom:0pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span><span style="margin-top:0pt;margin-bottom:0pt"><span style="margin-top:0pt;margin-bottom:0pt">Accumulated</span></span></span></span></span></span></div> <div style="line-height:1.25;margin-top:0pt;margin-bottom:0pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span><span style="margin-top:0pt;margin-bottom:0pt"><span style="margin-top:0pt;margin-bottom:0pt">Amortization</span></span></span></span></span></span></div> </td> <td colspan="1" style="text-align:center;vertical-align:bottom;padding-bottom:2px;white-space:nowrap"> </td> <td colspan="1" style="vertical-align:bottom;padding-bottom:2px;text-align:center"> </td> <td colspan="2" style="vertical-align:bottom;border-bottom:2px solid rgb(0, 0, 0);text-align:center"> <div style="line-height:1.25"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span><span><span>Net</span></span></span></span></span></span></div> </td> <td colspan="1" style="vertical-align:bottom;padding-bottom:2px;vertical-align:bottom;white-space:nowrap"> </td> </tr> <tr> <td style="vertical-align:middle;width:50.65%;background-color:rgb(204, 238, 255);vertical-align:bottom"> <div style="text-align:justify;line-height:1.25"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>Facilities’ lease</span></span></span></span></div> </td> <td colspan="1" style="vertical-align:bottom;width:0.97%;background-color:rgb(204, 238, 255);vertical-align:bottom"> </td> <td colspan="1" style="vertical-align:bottom;text-align:right;width:8.93%;background-color:rgb(204, 238, 255);vertical-align:bottom"> <div style="line-height:1.25;text-align:center"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>19</span></span></span></span></div> </td> <td colspan="1" style="vertical-align:bottom;width:0.97%;background-color:rgb(204, 238, 255);vertical-align:bottom;white-space:nowrap"> </td> <td colspan="1" style="vertical-align:bottom;width:0.97%;background-color:rgb(204, 238, 255);vertical-align:bottom"> </td> <td colspan="1" style="vertical-align:bottom;width:1.46%;background-color:rgb(204, 238, 255);vertical-align:bottom"> <div style="line-height:1.25"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>$</span></span></span></span></div> </td> <td colspan="1" style="vertical-align:bottom;text-align:right;width:8.93%;background-color:rgb(204, 238, 255);vertical-align:bottom"> <div style="line-height:1.25"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">33,500</span></span></div> </td> <td colspan="1" style="vertical-align:bottom;width:0.97%;background-color:rgb(204, 238, 255);vertical-align:bottom;white-space:nowrap"> </td> <td colspan="1" style="vertical-align:bottom;width:0.97%;background-color:rgb(204, 238, 255);vertical-align:bottom"> </td> <td colspan="1" style="vertical-align:bottom;width:1.79%;background-color:rgb(204, 238, 255);vertical-align:bottom"> <div style="line-height:1.25"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>$</span></span></span></span></div> </td> <td colspan="1" style="vertical-align:bottom;text-align:right;width:10.06%;background-color:rgb(204, 238, 255);vertical-align:bottom"> <div style="line-height:1.25"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">(31,970</span></span></div> </td> <td colspan="1" style="vertical-align:bottom;width:0.97%;background-color:rgb(204, 238, 255);vertical-align:bottom;white-space:nowrap"> <div style="line-height:1.25"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>)</span></span></span></span></div> </td> <td colspan="1" style="vertical-align:bottom;width:0.97%;background-color:rgb(204, 238, 255);vertical-align:bottom"> </td> <td colspan="1" style="vertical-align:bottom;width:1.46%;background-color:rgb(204, 238, 255);vertical-align:bottom"> <div style="line-height:1.25"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>$</span></span></span></span></div> </td> <td colspan="1" style="vertical-align:bottom;text-align:right;width:8.93%;background-color:rgb(204, 238, 255);vertical-align:bottom"> <div style="line-height:1.25"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">1,530</span></span></div> </td> <td colspan="1" style="vertical-align:bottom;width:0.97%;background-color:rgb(204, 238, 255);vertical-align:bottom;white-space:nowrap"> </td> </tr> <tr> <td style="vertical-align:middle;width:50.65%;vertical-align:bottom"> <div style="text-align:justify;line-height:1.25"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>Technologies</span></span></span></span></div> </td> <td colspan="1" style="vertical-align:bottom;width:0.97%;vertical-align:bottom"> </td> <td colspan="1" style="vertical-align:bottom;text-align:right;width:8.93%;vertical-align:bottom"> <div style="line-height:1.25;text-align:center"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>10-20</span></span></span></span></div> </td> <td colspan="1" style="vertical-align:bottom;width:0.97%;vertical-align:bottom;white-space:nowrap"> </td> <td colspan="1" style="vertical-align:bottom;width:0.97%;vertical-align:bottom"> </td> <td colspan="1" style="vertical-align:bottom;width:1.46%;vertical-align:bottom"> </td> <td colspan="1" style="vertical-align:bottom;text-align:right;width:8.93%;vertical-align:bottom"> <div style="line-height:1.25"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">6,700</span></span></div> </td> <td colspan="1" style="vertical-align:bottom;width:0.97%;vertical-align:bottom;white-space:nowrap"> </td> <td colspan="1" style="vertical-align:bottom;width:0.97%;vertical-align:bottom"> </td> <td colspan="1" style="vertical-align:bottom;width:1.79%;vertical-align:bottom"> </td> <td colspan="1" style="vertical-align:bottom;text-align:right;width:10.06%;vertical-align:bottom"> <div style="line-height:1.25"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">(6,700</span></span></div> </td> <td colspan="1" style="vertical-align:bottom;width:0.97%;vertical-align:bottom;white-space:nowrap"> <div style="line-height:1.25"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>)</span></span></span></span></div> </td> <td colspan="1" style="vertical-align:bottom;width:0.97%;vertical-align:bottom"> </td> <td colspan="1" style="vertical-align:bottom;width:1.46%;vertical-align:bottom"> </td> <td colspan="1" style="vertical-align:bottom;text-align:right;width:8.93%;vertical-align:bottom"> <div style="line-height:1.25"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">-</span></span></div> </td> <td colspan="1" style="vertical-align:bottom;width:0.97%;vertical-align:bottom;white-space:nowrap"> </td> </tr> <tr> <td style="vertical-align:middle;width:50.65%;background-color:rgb(204, 238, 255);padding-bottom:2px;vertical-align:bottom"> <div style="text-align:justify;line-height:1.25"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>Customer relationships</span></span></span></span></div> </td> <td colspan="1" style="vertical-align:bottom;width:0.97%;background-color:rgb(204, 238, 255);padding-bottom:2px;vertical-align:bottom"> </td> <td colspan="1" style="vertical-align:bottom;text-align:right;width:8.93%;background-color:rgb(204, 238, 255);padding-bottom:2px;vertical-align:bottom"> <div style="line-height:1.25;text-align:center"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>15</span></span></span></span></div> </td> <td colspan="1" style="vertical-align:bottom;width:0.97%;background-color:rgb(204, 238, 255);padding-bottom:2px;vertical-align:bottom;white-space:nowrap"> </td> <td colspan="1" style="vertical-align:bottom;width:0.97%;background-color:rgb(204, 238, 255);padding-bottom:2px;vertical-align:bottom"> </td> <td colspan="1" style="vertical-align:bottom;width:1.46%;background-color:rgb(204, 238, 255);border-bottom:2px solid rgb(0, 0, 0);vertical-align:bottom"> </td> <td colspan="1" style="vertical-align:bottom;text-align:right;width:8.93%;background-color:rgb(204, 238, 255);border-bottom:2px solid rgb(0, 0, 0);vertical-align:bottom"> <div style="line-height:1.25"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">2,600</span></span></div> </td> <td colspan="1" style="vertical-align:bottom;width:0.97%;background-color:rgb(204, 238, 255);padding-bottom:2px;vertical-align:bottom;white-space:nowrap"> </td> <td colspan="1" style="vertical-align:bottom;width:0.97%;background-color:rgb(204, 238, 255);padding-bottom:2px;vertical-align:bottom"> </td> <td colspan="1" style="vertical-align:bottom;width:1.79%;background-color:rgb(204, 238, 255);border-bottom:2px solid rgb(0, 0, 0);vertical-align:bottom"> </td> <td colspan="1" style="vertical-align:bottom;text-align:right;width:10.06%;background-color:rgb(204, 238, 255);border-bottom:2px solid rgb(0, 0, 0);vertical-align:bottom"> <div style="line-height:1.25"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">(2,600</span></span></div> </td> <td colspan="1" style="vertical-align:bottom;width:0.97%;background-color:rgb(204, 238, 255);padding-bottom:2px;vertical-align:bottom;white-space:nowrap"> <div style="line-height:1.25"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>)</span></span></span></span></div> </td> <td colspan="1" style="vertical-align:bottom;width:0.97%;background-color:rgb(204, 238, 255);padding-bottom:2px;vertical-align:bottom"> </td> <td colspan="1" style="vertical-align:bottom;width:1.46%;background-color:rgb(204, 238, 255);border-bottom:2px solid rgb(0, 0, 0);vertical-align:bottom"> </td> <td colspan="1" style="vertical-align:bottom;text-align:right;width:8.93%;background-color:rgb(204, 238, 255);border-bottom:2px solid rgb(0, 0, 0);vertical-align:bottom"> <div style="line-height:1.25"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">-</span></span></div> </td> <td colspan="1" style="vertical-align:bottom;width:0.97%;background-color:rgb(204, 238, 255);padding-bottom:2px;vertical-align:bottom;white-space:nowrap"> </td> </tr> <tr> <td style="vertical-align:middle;width:50.65%;padding-bottom:4px;vertical-align:bottom"> <div style="text-align:justify;line-height:1.25"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>Total identifiable intangible assets</span></span></span></span></div> </td> <td colspan="1" style="vertical-align:bottom;width:0.97%;padding-bottom:4px;vertical-align:bottom"> </td> <td colspan="1" style="vertical-align:bottom;text-align:right;width:8.93%;padding-bottom:4px;vertical-align:bottom"> </td> <td colspan="1" style="vertical-align:bottom;width:0.97%;padding-bottom:4px;vertical-align:bottom;white-space:nowrap"> </td> <td colspan="1" style="vertical-align:bottom;width:0.97%;padding-bottom:4px;vertical-align:bottom"> </td> <td colspan="1" style="vertical-align:bottom;width:1.46%;border-bottom:4px double rgb(0, 0, 0);vertical-align:bottom"> <div style="line-height:1.25"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>$</span></span></span></span></div> </td> <td colspan="1" style="vertical-align:bottom;text-align:right;width:8.93%;border-bottom:4px double rgb(0, 0, 0);vertical-align:bottom"> <div style="line-height:1.25"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">42,800</span></span></div> </td> <td colspan="1" style="vertical-align:bottom;width:0.97%;padding-bottom:4px;vertical-align:bottom;white-space:nowrap"> </td> <td colspan="1" style="vertical-align:bottom;width:0.97%;padding-bottom:4px;vertical-align:bottom"> </td> <td colspan="1" style="vertical-align:bottom;width:1.79%;border-bottom:4px double rgb(0, 0, 0);vertical-align:bottom"> <div style="line-height:1.25"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>$</span></span></span></span></div> </td> <td colspan="1" style="vertical-align:bottom;text-align:right;width:10.06%;border-bottom:4px double rgb(0, 0, 0);vertical-align:bottom"> <div style="line-height:1.25"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">(41,270</span></span></div> </td> <td colspan="1" style="vertical-align:bottom;width:0.97%;padding-bottom:4px;vertical-align:bottom;white-space:nowrap"> <div style="line-height:1.25"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>)</span></span></span></span></div> </td> <td colspan="1" style="vertical-align:bottom;width:0.97%;padding-bottom:4px;vertical-align:bottom"> </td> <td colspan="1" style="vertical-align:bottom;width:1.46%;border-bottom:4px double rgb(0, 0, 0);vertical-align:bottom"> <div style="line-height:1.25"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>$</span></span></span></span></div> </td> <td colspan="1" style="vertical-align:bottom;text-align:right;width:8.93%;border-bottom:4px double rgb(0, 0, 0);vertical-align:bottom"> <div style="line-height:1.25"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">1,530</span></span></div> </td> <td colspan="1" style="vertical-align:bottom;width:0.97%;padding-bottom:4px;vertical-align:bottom;white-space:nowrap"> </td> </tr> </table> </div> <div style="line-height:1.25;clear:both"> </div> <div style="line-height:1.25"> <div style="line-height:1.25"> <div style="line-height:1.25"> <div style="line-height:1.25"> <div style="line-height:1.25"> <div style="line-height:1.25"> <div style="line-height:1.25"> <div style="line-height:1.25"> <div style="line-height:1.25"> <table border="0" cellpadding="0" cellspacing="0" style="font-family:'Times New Roman', Times, serif;font-size:10pt;color:#000000;width:100%"> <tr> <td style="width:56pt"> </td> <td style="width:auto"> <div style="text-align:justify;line-height:1.25"> <div style="line-height:1.25"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">Intangible assets, net consist of the following as of December 31, 2024:</span></span></div> </div> </td> </tr> </table> <div> </div> </div> </div> </div> </div> </div> </div> </div> </div> </div> <div style="margin-left:72pt"> <table border="0" cellpadding="0" cellspacing="0" style="width:85%;color:rgb(0, 0, 0);font-family:Times New Roman, Times, serif;font-size:10pt;text-align:left"> <tr> <td style="vertical-align:middle;padding-bottom:2px;vertical-align:bottom"> <div style="text-align:justify;line-height:1.25"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>Details</span></span></span></span></div> </td> <td colspan="1" style="vertical-align:bottom;padding-bottom:2px;vertical-align:bottom"> </td> <td style="vertical-align:bottom;border-bottom:2px solid rgb(0, 0, 0);text-align:center;margin-top:0pt;margin-bottom:0pt"> <div style="line-height:1.25;margin-top:0pt;margin-bottom:0pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span><span style="margin-top:0pt;margin-bottom:0pt"><span style="margin-top:0pt;margin-bottom:0pt">Useful life</span></span></span></span></span></span></div> <div style="line-height:1.25;margin-top:0pt;margin-bottom:0pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span><span style="margin-top:0pt;margin-bottom:0pt"><span style="margin-top:0pt;margin-bottom:0pt">(years)</span></span></span></span></span></span></div> </td> <td colspan="1" style="text-align:center;vertical-align:bottom;padding-bottom:2px;white-space:nowrap"> </td> <td colspan="1" style="vertical-align:bottom;padding-bottom:2px;text-align:center"> </td> <td colspan="2" style="vertical-align:bottom;border-bottom:2px solid rgb(0, 0, 0);text-align:center"> <div style="line-height:1.25"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span><span><span>Cost</span></span></span></span></span></span></div> </td> <td colspan="1" style="text-align:center;vertical-align:bottom;padding-bottom:2px;white-space:nowrap"> </td> <td colspan="1" style="vertical-align:bottom;padding-bottom:2px;text-align:center"> </td> <td colspan="2" style="vertical-align:bottom;border-bottom:2px solid rgb(0, 0, 0);text-align:center;margin-top:0pt;margin-bottom:0pt"> <div style="line-height:1.25;margin-top:0pt;margin-bottom:0pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span><span style="margin-top:0pt;margin-bottom:0pt"><span style="margin-top:0pt;margin-bottom:0pt">Accumulated</span></span></span></span></span></span></div> <div style="line-height:1.25;margin-top:0pt;margin-bottom:0pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span><span style="margin-top:0pt;margin-bottom:0pt"><span style="margin-top:0pt;margin-bottom:0pt">Amortization</span></span></span></span></span></span></div> </td> <td colspan="1" style="text-align:center;vertical-align:bottom;padding-bottom:2px;white-space:nowrap"> </td> <td colspan="1" style="vertical-align:bottom;padding-bottom:2px;text-align:center"> </td> <td colspan="2" style="vertical-align:bottom;border-bottom:2px solid rgb(0, 0, 0);text-align:center"> <div style="line-height:1.25"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span><span><span>Net</span></span></span></span></span></span></div> </td> <td colspan="1" style="vertical-align:bottom;padding-bottom:2px;vertical-align:bottom;white-space:nowrap"> </td> </tr> <tr> <td style="vertical-align:middle;width:50.65%;background-color:rgb(204, 238, 255);vertical-align:bottom"> <div style="text-align:justify;line-height:1.25"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>Facilities’ lease</span></span></span></span></div> </td> <td colspan="1" style="vertical-align:bottom;width:0.97%;background-color:rgb(204, 238, 255);vertical-align:bottom"> </td> <td colspan="1" style="vertical-align:bottom;text-align:right;width:8.93%;background-color:rgb(204, 238, 255);vertical-align:bottom"> <div style="line-height:1.25;text-align:center"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>19</span></span></span></span></div> </td> <td colspan="1" style="vertical-align:bottom;width:0.97%;background-color:rgb(204, 238, 255);vertical-align:bottom;white-space:nowrap"> </td> <td colspan="1" style="vertical-align:bottom;width:0.97%;background-color:rgb(204, 238, 255);vertical-align:bottom"> </td> <td colspan="1" style="vertical-align:bottom;width:1.46%;background-color:rgb(204, 238, 255);vertical-align:bottom"> <div style="line-height:1.25"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>$</span></span></span></span></div> </td> <td colspan="1" style="vertical-align:bottom;text-align:right;width:8.93%;background-color:rgb(204, 238, 255);vertical-align:bottom"> <div style="line-height:1.25"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">33,500</span></span></div> </td> <td colspan="1" style="vertical-align:bottom;width:0.97%;background-color:rgb(204, 238, 255);vertical-align:bottom;white-space:nowrap"> </td> <td colspan="1" style="vertical-align:bottom;width:0.97%;background-color:rgb(204, 238, 255);vertical-align:bottom"> </td> <td colspan="1" style="vertical-align:bottom;width:1.79%;background-color:rgb(204, 238, 255);vertical-align:bottom"> <div style="line-height:1.25"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>$</span></span></span></span></div> </td> <td colspan="1" style="vertical-align:bottom;text-align:right;width:10.06%;background-color:rgb(204, 238, 255);vertical-align:bottom"> <div style="line-height:1.25"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">(30,682</span></span></div> </td> <td colspan="1" style="vertical-align:bottom;width:0.97%;background-color:rgb(204, 238, 255);vertical-align:bottom;white-space:nowrap"> <div style="line-height:1.25"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>)</span></span></span></span></div> </td> <td colspan="1" style="vertical-align:bottom;width:0.97%;background-color:rgb(204, 238, 255);vertical-align:bottom"> </td> <td colspan="1" style="vertical-align:bottom;width:1.46%;background-color:rgb(204, 238, 255);vertical-align:bottom"> <div style="line-height:1.25"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>$</span></span></span></span></div> </td> <td colspan="1" style="vertical-align:bottom;text-align:right;width:8.93%;background-color:rgb(204, 238, 255);vertical-align:bottom"> <div style="line-height:1.25"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">2,818</span></span></div> </td> <td colspan="1" style="vertical-align:bottom;width:0.97%;background-color:rgb(204, 238, 255);vertical-align:bottom;white-space:nowrap"> </td> </tr> <tr> <td style="vertical-align:middle;width:50.65%;vertical-align:bottom"> <div style="text-align:justify;line-height:1.25"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>Technologies</span></span></span></span></div> </td> <td colspan="1" style="vertical-align:bottom;width:0.97%;vertical-align:bottom"> </td> <td colspan="1" style="vertical-align:bottom;text-align:right;width:8.93%;vertical-align:bottom"> <div style="line-height:1.25;text-align:center"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>10-20</span></span></span></span></div> </td> <td colspan="1" style="vertical-align:bottom;width:0.97%;vertical-align:bottom;white-space:nowrap"> </td> <td colspan="1" style="vertical-align:bottom;width:0.97%;vertical-align:bottom"> </td> <td colspan="1" style="vertical-align:bottom;width:1.46%;vertical-align:bottom"> </td> <td colspan="1" style="vertical-align:bottom;text-align:right;width:8.93%;vertical-align:bottom"> <div style="line-height:1.25"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">6,700</span></span></div> </td> <td colspan="1" style="vertical-align:bottom;width:0.97%;vertical-align:bottom;white-space:nowrap"> </td> <td colspan="1" style="vertical-align:bottom;width:0.97%;vertical-align:bottom"> </td> <td colspan="1" style="vertical-align:bottom;width:1.79%;vertical-align:bottom"> </td> <td colspan="1" style="vertical-align:bottom;text-align:right;width:10.06%;vertical-align:bottom"> <div style="line-height:1.25"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">(6,322</span></span></div> </td> <td colspan="1" style="vertical-align:bottom;width:0.97%;vertical-align:bottom;white-space:nowrap"> <div style="line-height:1.25"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>)</span></span></span></span></div> </td> <td colspan="1" style="vertical-align:bottom;width:0.97%;vertical-align:bottom"> </td> <td colspan="1" style="vertical-align:bottom;width:1.46%;vertical-align:bottom"> </td> <td colspan="1" style="vertical-align:bottom;text-align:right;width:8.93%;vertical-align:bottom"> <div style="line-height:1.25"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">378</span></span></div> </td> <td colspan="1" style="vertical-align:bottom;width:0.97%;vertical-align:bottom;white-space:nowrap"> </td> </tr> <tr> <td style="vertical-align:middle;width:50.65%;background-color:rgb(204, 238, 255);padding-bottom:2px;vertical-align:bottom"> <div style="text-align:justify;line-height:1.25"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>Customer relationships</span></span></span></span></div> </td> <td colspan="1" style="vertical-align:bottom;width:0.97%;background-color:rgb(204, 238, 255);padding-bottom:2px;vertical-align:bottom"> </td> <td colspan="1" style="vertical-align:bottom;text-align:right;width:8.93%;background-color:rgb(204, 238, 255);padding-bottom:2px;vertical-align:bottom"> <div style="line-height:1.25;text-align:center"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>15</span></span></span></span></div> </td> <td colspan="1" style="vertical-align:bottom;width:0.97%;background-color:rgb(204, 238, 255);padding-bottom:2px;vertical-align:bottom;white-space:nowrap"> </td> <td colspan="1" style="vertical-align:bottom;width:0.97%;background-color:rgb(204, 238, 255);padding-bottom:2px;vertical-align:bottom"> </td> <td colspan="1" style="vertical-align:bottom;width:1.46%;background-color:rgb(204, 238, 255);border-bottom:2px solid rgb(0, 0, 0);vertical-align:bottom"> </td> <td colspan="1" style="vertical-align:bottom;text-align:right;width:8.93%;background-color:rgb(204, 238, 255);border-bottom:2px solid rgb(0, 0, 0);vertical-align:bottom"> <div style="line-height:1.25"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">2,600</span></span></div> </td> <td colspan="1" style="vertical-align:bottom;width:0.97%;background-color:rgb(204, 238, 255);padding-bottom:2px;vertical-align:bottom;white-space:nowrap"> </td> <td colspan="1" style="vertical-align:bottom;width:0.97%;background-color:rgb(204, 238, 255);padding-bottom:2px;vertical-align:bottom"> </td> <td colspan="1" style="vertical-align:bottom;width:1.79%;background-color:rgb(204, 238, 255);border-bottom:2px solid rgb(0, 0, 0);vertical-align:bottom"> </td> <td colspan="1" style="vertical-align:bottom;text-align:right;width:10.06%;background-color:rgb(204, 238, 255);border-bottom:2px solid rgb(0, 0, 0);vertical-align:bottom"> <div style="line-height:1.25"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">(2,600</span></span></div> </td> <td colspan="1" style="vertical-align:bottom;width:0.97%;background-color:rgb(204, 238, 255);padding-bottom:2px;vertical-align:bottom;white-space:nowrap"> <div style="line-height:1.25"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>)</span></span></span></span></div> </td> <td colspan="1" style="vertical-align:bottom;width:0.97%;background-color:rgb(204, 238, 255);padding-bottom:2px;vertical-align:bottom"> </td> <td colspan="1" style="vertical-align:bottom;width:1.46%;background-color:rgb(204, 238, 255);border-bottom:2px solid rgb(0, 0, 0);vertical-align:bottom"> </td> <td colspan="1" style="vertical-align:bottom;text-align:right;width:8.93%;background-color:rgb(204, 238, 255);border-bottom:2px solid rgb(0, 0, 0);vertical-align:bottom"> <div style="line-height:1.25"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">-</span></span></div> </td> <td colspan="1" style="vertical-align:bottom;width:0.97%;background-color:rgb(204, 238, 255);padding-bottom:2px;vertical-align:bottom;white-space:nowrap"> </td> </tr> <tr> <td style="vertical-align:middle;width:50.65%;padding-bottom:4px;vertical-align:bottom"> <div style="text-align:justify;line-height:1.25"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>Total identifiable intangible assets</span></span></span></span></div> </td> <td colspan="1" style="vertical-align:bottom;width:0.97%;padding-bottom:4px;vertical-align:bottom"> </td> <td colspan="1" style="vertical-align:bottom;text-align:right;width:8.93%;padding-bottom:4px;vertical-align:bottom"> </td> <td colspan="1" style="vertical-align:bottom;width:0.97%;padding-bottom:4px;vertical-align:bottom;white-space:nowrap"> </td> <td colspan="1" style="vertical-align:bottom;width:0.97%;padding-bottom:4px;vertical-align:bottom"> </td> <td colspan="1" style="vertical-align:bottom;width:1.46%;border-bottom:4px double rgb(0, 0, 0);vertical-align:bottom"> <div style="line-height:1.25"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>$</span></span></span></span></div> </td> <td colspan="1" style="vertical-align:bottom;text-align:right;width:8.93%;border-bottom:4px double rgb(0, 0, 0);vertical-align:bottom"> <div style="line-height:1.25"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">42,800</span></span></div> </td> <td colspan="1" style="vertical-align:bottom;width:0.97%;padding-bottom:4px;vertical-align:bottom;white-space:nowrap"> </td> <td colspan="1" style="vertical-align:bottom;width:0.97%;padding-bottom:4px;vertical-align:bottom"> </td> <td colspan="1" style="vertical-align:bottom;width:1.79%;border-bottom:4px double rgb(0, 0, 0);vertical-align:bottom"> <div style="line-height:1.25"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>$</span></span></span></span></div> </td> <td colspan="1" style="vertical-align:bottom;text-align:right;width:10.06%;border-bottom:4px double rgb(0, 0, 0);vertical-align:bottom"> <div style="line-height:1.25"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">(39,604</span></span></div> </td> <td colspan="1" style="vertical-align:bottom;width:0.97%;padding-bottom:4px;vertical-align:bottom;white-space:nowrap"> <div style="line-height:1.25"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>)</span></span></span></span></div> </td> <td colspan="1" style="vertical-align:bottom;width:0.97%;padding-bottom:4px;vertical-align:bottom"> </td> <td colspan="1" style="vertical-align:bottom;width:1.46%;border-bottom:4px double rgb(0, 0, 0);vertical-align:bottom"> <div style="line-height:1.25"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>$</span></span></span></span></div> </td> <td colspan="1" style="vertical-align:bottom;text-align:right;width:8.93%;border-bottom:4px double rgb(0, 0, 0);vertical-align:bottom"> <div style="line-height:1.25"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">3,196</span></span></div> </td> <td colspan="1" style="vertical-align:bottom;width:0.97%;padding-bottom:4px;vertical-align:bottom;white-space:nowrap"> </td> </tr> </table> </div> </div> P19Y 33500000 31970000 1530000 P10Y P20Y 6700000 6700000 0 P15Y 2600000 2600000 0 42800000 41270000 1530000 P19Y 33500000 30682000 2818000 P10Y P20Y 6700000 6322000 378000 P15Y 2600000 2600000 0 42800000 39604000 3196000 <div> <div style="line-height:1.25"> <div style="line-height:1.25"> <div style="line-height:1.25"> <div style="line-height:1.25"> <div style="line-height:1.25"> <div style="line-height:1.25"> <div style="line-height:1.25"> <div style="line-height:1.25"> <div style="line-height:1.25"> <table border="0" cellpadding="0" cellspacing="0" style="font-family:'Times New Roman', Times, serif;font-size:10pt;color:#000000;width:100%"> <tr> <td style="width:56pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span style="font-weight:bold">NOTE 7:</span></span></span></td> <td style="width:auto"> <p style="font-size:10pt;font-family:Times New Roman, Times, serif;margin-top:0pt;margin-bottom:0pt"><span style="font-size:10pt;font-family:Times New Roman, Times, serif;font-weight:bold">OTHER LONG-TERM ASSETS, NET</span></p> </td> </tr> <tr> <td style="width:56pt"> </td> <td style="width:auto"> </td> </tr> </table> </div> </div> </div> </div> </div> </div> </div> </div> </div> <div> <div style="line-height:1.25"> <div style="line-height:1.25"> <div style="line-height:1.25"> <div style="line-height:1.25"> <div style="line-height:1.25"> <div style="line-height:1.25"> <div style="line-height:1.25"> <div style="line-height:1.25"> <div style="line-height:1.25"> <div> <div style="line-height:1.25"> <div style="line-height:1.25"> <div style="line-height:1.25"> <div style="line-height:1.25"> <div style="line-height:1.25"> <div style="line-height:1.25"> <div style="line-height:1.25"> <div style="line-height:1.25"> <div style="line-height:1.25"> <table border="0" cellpadding="0" cellspacing="0" style="font-family:'Times New Roman', Times, serif;font-size:10pt;color:#000000;width:100%"> <tr> <td style="width:56pt"> </td> <td style="width:auto"> <div style="line-height:1.25"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">Other long-term assets, net consist of the following as of December 31, 2025 and 2024:</span></span></div> </td> </tr> </table> <div> </div> <div> <div style="margin-left:72pt"> <table cellpadding="0" cellspacing="0" style="font-family:'Times New Roman',Times,serif;font-size:10pt;text-align:left;color:rgb(0, 0, 0);width:85%"> <tr> <td style="vertical-align:middle;padding-bottom:2px;font-weight:normal;width:76%;vertical-align:bottom"> <div style="text-align:justify;line-height:1.25"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">Details</span></span></div> </td> <td colspan="1" style="vertical-align:bottom;padding-bottom:2px;width:1%;vertical-align:bottom"> </td> <td colspan="2" style="vertical-align:middle;border-bottom:2px solid rgb(0, 0, 0);vertical-align:bottom"> <div style="text-align:center;line-height:1.25;font-family:'Times New Roman', Times, serif;font-weight:bold"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">2025</span></span></div> </td> <td colspan="1" style="vertical-align:bottom;padding-bottom:2px;width:1%;vertical-align:bottom;white-space:nowrap"> </td> <td colspan="1" style="vertical-align:bottom;padding-bottom:2px;width:1%;vertical-align:bottom"> </td> <td colspan="2" style="vertical-align:middle;border-bottom:2px solid rgb(0, 0, 0);vertical-align:bottom"> <div style="text-align:center;line-height:1.25;font-family:'Times New Roman', Times, serif;font-weight:bold"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">2024</span></span></div> </td> <td colspan="1" style="vertical-align:bottom;padding-bottom:2px;width:1%;vertical-align:bottom;white-space:nowrap"> </td> </tr> <tr> <td style="vertical-align:middle;width:76%;background-color:rgb(204, 238, 255);vertical-align:bottom"> <div style="text-align:justify;line-height:1.25;font-family:'Times New Roman', Times, serif"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">ROU - assets under operating leases, see Note 12D</span></span></div> </td> <td colspan="1" style="vertical-align:bottom;width:1%;background-color:rgb(204, 238, 255);vertical-align:bottom"> </td> <td colspan="1" style="vertical-align:bottom;width:1%;background-color:rgb(204, 238, 255);vertical-align:bottom"> <div style="line-height:1.25;font-family:'Times New Roman', Times, serif"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">$</span></span></div> </td> <td colspan="1" style="vertical-align:bottom;text-align:right;width:9%;background-color:rgb(204, 238, 255);vertical-align:bottom"> <div style="line-height:1.25;font-family:'Times New Roman', Times, serif"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">117,704</span></span></div> </td> <td colspan="1" style="vertical-align:bottom;width:1%;background-color:rgb(204, 238, 255);vertical-align:bottom;white-space:nowrap"> </td> <td colspan="1" style="vertical-align:bottom;width:1%;background-color:rgb(204, 238, 255);vertical-align:bottom"> </td> <td colspan="1" style="vertical-align:bottom;width:1%;background-color:rgb(204, 238, 255);vertical-align:bottom"> <div style="line-height:1.25;font-family:'Times New Roman', Times, serif"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">$</span></span></div> </td> <td colspan="1" style="vertical-align:bottom;text-align:right;width:9%;background-color:rgb(204, 238, 255);vertical-align:bottom"> <div style="line-height:1.25;font-family:'Times New Roman', Times, serif"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">7,874</span></span></div> </td> <td colspan="1" style="vertical-align:bottom;width:1%;background-color:rgb(204, 238, 255);vertical-align:bottom;white-space:nowrap"> </td> </tr> <tr> <td style="vertical-align:middle;width:76%;vertical-align:bottom"> <div style="text-align:justify;line-height:1.25;font-family:'Times New Roman', Times, serif"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">Deferred tax asset - see Note 17C</span></span></div> </td> <td colspan="1" style="vertical-align:bottom;width:1%;vertical-align:bottom"> </td> <td colspan="1" style="vertical-align:bottom;width:1%;vertical-align:bottom"> </td> <td colspan="1" style="vertical-align:bottom;text-align:right;width:9%;vertical-align:bottom"> <div style="line-height:1.25;font-family:'Times New Roman', Times, serif"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">13,354</span></span></div> </td> <td colspan="1" style="vertical-align:bottom;width:1%;vertical-align:bottom;white-space:nowrap"> </td> <td colspan="1" style="vertical-align:bottom;width:1%;vertical-align:bottom"> </td> <td colspan="1" style="vertical-align:bottom;width:1%;vertical-align:bottom"> </td> <td colspan="1" style="vertical-align:bottom;text-align:right;width:9%;vertical-align:bottom"> <div style="line-height:1.25;font-family:'Times New Roman', Times, serif"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">1,768</span></span></div> </td> <td colspan="1" style="vertical-align:bottom;width:1%;vertical-align:bottom;white-space:nowrap"> </td> </tr> <tr> <td style="vertical-align:middle;width:76%;background-color:rgb(204, 238, 255);vertical-align:bottom"> <div style="text-align:justify;line-height:1.25;font-family:'Times New Roman', Times, serif"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">Investments in privately held companies</span></span></div> </td> <td colspan="1" style="vertical-align:bottom;width:1%;background-color:rgb(204, 238, 255);vertical-align:bottom"> </td> <td colspan="1" style="vertical-align:bottom;width:1%;background-color:rgb(204, 238, 255);vertical-align:bottom"> </td> <td colspan="1" style="vertical-align:bottom;text-align:right;width:9%;background-color:rgb(204, 238, 255);vertical-align:bottom"> <div style="line-height:1.25;font-family:'Times New Roman', Times, serif"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">4,427</span></span></div> </td> <td colspan="1" style="vertical-align:bottom;width:1%;background-color:rgb(204, 238, 255);vertical-align:bottom;white-space:nowrap"> </td> <td colspan="1" style="vertical-align:bottom;width:1%;background-color:rgb(204, 238, 255);vertical-align:bottom"> </td> <td colspan="1" style="vertical-align:bottom;width:1%;background-color:rgb(204, 238, 255);vertical-align:bottom"> </td> <td colspan="1" style="vertical-align:bottom;text-align:right;width:9%;background-color:rgb(204, 238, 255);vertical-align:bottom"> <div style="line-height:1.25;font-family:'Times New Roman', Times, serif"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">6,780</span></span></div> </td> <td colspan="1" style="vertical-align:bottom;width:1%;background-color:rgb(204, 238, 255);vertical-align:bottom;white-space:nowrap"> </td> </tr> <tr> <td style="vertical-align:middle;width:76%;vertical-align:bottom"> <div style="text-align:justify;line-height:1.25;font-family:'Times New Roman', Times, serif"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">Prepaid long-term land lease, net</span></span></div> </td> <td colspan="1" style="vertical-align:bottom;width:1%;vertical-align:bottom"> </td> <td colspan="1" style="vertical-align:bottom;width:1%;vertical-align:bottom"> </td> <td colspan="1" style="vertical-align:bottom;text-align:right;width:9%;vertical-align:bottom"> <div style="line-height:1.25;font-family:'Times New Roman', Times, serif"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">2,451</span></span></div> </td> <td colspan="1" style="vertical-align:bottom;width:1%;vertical-align:bottom;white-space:nowrap"> </td> <td colspan="1" style="vertical-align:bottom;width:1%;vertical-align:bottom"> </td> <td colspan="1" style="vertical-align:bottom;width:1%;vertical-align:bottom"> </td> <td colspan="1" style="vertical-align:bottom;text-align:right;width:9%;vertical-align:bottom"> <div style="line-height:1.25;font-family:'Times New Roman', Times, serif"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">2,572</span></span></div> </td> <td colspan="1" style="vertical-align:bottom;width:1%;vertical-align:bottom;white-space:nowrap"> </td> </tr> <tr> <td style="vertical-align:middle;width:76%;background-color:rgb(204, 238, 255);vertical-align:bottom"> <div style="text-align:justify;line-height:1.25;font-family:'Times New Roman', Times, serif"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">Pension plan net assets</span></span></div> </td> <td colspan="1" style="vertical-align:bottom;width:1%;background-color:rgb(204, 238, 255);vertical-align:bottom"> </td> <td colspan="1" style="vertical-align:bottom;width:1%;background-color:rgb(204, 238, 255);vertical-align:bottom"> </td> <td colspan="1" style="vertical-align:bottom;text-align:right;width:9%;background-color:rgb(204, 238, 255);vertical-align:bottom"> <div style="line-height:1.25;font-family:'Times New Roman', Times, serif"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">1,810</span></span></div> </td> <td colspan="1" style="vertical-align:bottom;width:1%;background-color:rgb(204, 238, 255);vertical-align:bottom;white-space:nowrap"> </td> <td colspan="1" style="vertical-align:bottom;width:1%;background-color:rgb(204, 238, 255);vertical-align:bottom"> </td> <td colspan="1" style="vertical-align:bottom;width:1%;background-color:rgb(204, 238, 255);vertical-align:bottom"> </td> <td colspan="1" style="vertical-align:bottom;text-align:right;width:9%;background-color:rgb(204, 238, 255);vertical-align:bottom"> <div style="line-height:1.25;font-family:'Times New Roman', Times, serif"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">1,870</span></span></div> </td> <td colspan="1" style="vertical-align:bottom;width:1%;background-color:rgb(204, 238, 255);vertical-align:bottom;white-space:nowrap"> </td> </tr> <tr> <td style="vertical-align:middle;width:76%;padding-bottom:2px;vertical-align:bottom"> <div style="text-align:justify;line-height:1.25;font-family:'Times New Roman', Times, serif"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">Long-term prepaid expenses</span></span></div> </td> <td colspan="1" style="vertical-align:bottom;width:1%;padding-bottom:2px;vertical-align:bottom"> </td> <td colspan="1" style="vertical-align:bottom;width:1%;border-bottom:2px solid rgb(0, 0, 0);vertical-align:bottom"> </td> <td colspan="1" style="vertical-align:bottom;text-align:right;width:9%;border-bottom:2px solid rgb(0, 0, 0);vertical-align:bottom"> <div style="line-height:1.25;font-family:'Times New Roman', Times, serif"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">1,336</span></span></div> </td> <td colspan="1" style="vertical-align:bottom;width:1%;padding-bottom:2px;vertical-align:bottom;white-space:nowrap"> </td> <td colspan="1" style="vertical-align:bottom;width:1%;padding-bottom:2px;vertical-align:bottom"> </td> <td colspan="1" style="vertical-align:bottom;width:1%;border-bottom:2px solid rgb(0, 0, 0);vertical-align:bottom"> </td> <td colspan="1" style="vertical-align:bottom;text-align:right;width:9%;border-bottom:2px solid rgb(0, 0, 0);vertical-align:bottom"> <div style="line-height:1.25;font-family:'Times New Roman', Times, serif"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">2,514</span></span></div> </td> <td colspan="1" style="vertical-align:bottom;width:1%;padding-bottom:2px;vertical-align:bottom;white-space:nowrap"> </td> </tr> <tr> <td style="vertical-align:middle;width:76%;padding-bottom:4px;background-color:rgb(204, 238, 255);vertical-align:bottom"> </td> <td colspan="1" style="vertical-align:bottom;width:1%;padding-bottom:4px;background-color:rgb(204, 238, 255);vertical-align:bottom"> </td> <td colspan="1" style="vertical-align:bottom;width:1%;border-bottom:4px double rgb(0, 0, 0);background-color:rgb(204, 238, 255);vertical-align:bottom"> <div style="line-height:1.25"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span>$</span></span></span></div> </td> <td colspan="1" style="vertical-align:bottom;text-align:right;width:9%;border-bottom:4px double rgb(0, 0, 0);background-color:rgb(204, 238, 255);vertical-align:bottom"> <div style="line-height:1.25"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span>141,082</span></span></span></div> </td> <td colspan="1" style="vertical-align:bottom;width:1%;padding-bottom:4px;background-color:rgb(204, 238, 255);vertical-align:bottom;white-space:nowrap"> </td> <td colspan="1" style="vertical-align:bottom;width:1%;padding-bottom:4px;background-color:rgb(204, 238, 255);vertical-align:bottom"> </td> <td colspan="1" style="vertical-align:bottom;width:1%;border-bottom:4px double rgb(0, 0, 0);background-color:rgb(204, 238, 255);vertical-align:bottom"> <div style="line-height:1.25"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span>$</span></span></span></div> </td> <td colspan="1" style="vertical-align:bottom;text-align:right;width:9%;border-bottom:4px double rgb(0, 0, 0);background-color:rgb(204, 238, 255);vertical-align:bottom"> <div style="line-height:1.25"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span>23,378</span></span></span></div> </td> <td colspan="1" style="vertical-align:bottom;width:1%;padding-bottom:4px;background-color:rgb(204, 238, 255);vertical-align:bottom;white-space:nowrap"> </td> </tr> </table> </div> </div> </div> </div> </div> </div> </div> </div> </div> </div> </div> </div> </div> </div> </div> </div> </div> </div> </div> </div> </div> </div> </div> <div> <div style="line-height:1.25"> <div style="line-height:1.25"> <div style="line-height:1.25"> <div style="line-height:1.25"> <div style="line-height:1.25"> <div style="line-height:1.25"> <div style="line-height:1.25"> <div style="line-height:1.25"> <div style="line-height:1.25"> <div> <div style="line-height:1.25"> <div style="line-height:1.25"> <div style="line-height:1.25"> <div style="line-height:1.25"> <div style="line-height:1.25"> <div style="line-height:1.25"> <div style="line-height:1.25"> <div style="line-height:1.25"> <div style="line-height:1.25"> <table border="0" cellpadding="0" cellspacing="0" style="font-family:'Times New Roman', Times, serif;font-size:10pt;color:#000000;width:100%"> <tr> <td style="width:56pt"> </td> <td style="width:auto"> <div style="line-height:1.25"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">Other long-term assets, net consist of the following as of December 31, 2025 and 2024:</span></span></div> </td> </tr> </table> <div> </div> <div> <div style="margin-left:72pt"> <table cellpadding="0" cellspacing="0" style="font-family:'Times New Roman',Times,serif;font-size:10pt;text-align:left;color:rgb(0, 0, 0);width:85%"> <tr> <td style="vertical-align:middle;padding-bottom:2px;font-weight:normal;width:76%;vertical-align:bottom"> <div style="text-align:justify;line-height:1.25"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">Details</span></span></div> </td> <td colspan="1" style="vertical-align:bottom;padding-bottom:2px;width:1%;vertical-align:bottom"> </td> <td colspan="2" style="vertical-align:middle;border-bottom:2px solid rgb(0, 0, 0);vertical-align:bottom"> <div style="text-align:center;line-height:1.25;font-family:'Times New Roman', Times, serif;font-weight:bold"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">2025</span></span></div> </td> <td colspan="1" style="vertical-align:bottom;padding-bottom:2px;width:1%;vertical-align:bottom;white-space:nowrap"> </td> <td colspan="1" style="vertical-align:bottom;padding-bottom:2px;width:1%;vertical-align:bottom"> </td> <td colspan="2" style="vertical-align:middle;border-bottom:2px solid rgb(0, 0, 0);vertical-align:bottom"> <div style="text-align:center;line-height:1.25;font-family:'Times New Roman', Times, serif;font-weight:bold"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">2024</span></span></div> </td> <td colspan="1" style="vertical-align:bottom;padding-bottom:2px;width:1%;vertical-align:bottom;white-space:nowrap"> </td> </tr> <tr> <td style="vertical-align:middle;width:76%;background-color:rgb(204, 238, 255);vertical-align:bottom"> <div style="text-align:justify;line-height:1.25;font-family:'Times New Roman', Times, serif"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">ROU - assets under operating leases, see Note 12D</span></span></div> </td> <td colspan="1" style="vertical-align:bottom;width:1%;background-color:rgb(204, 238, 255);vertical-align:bottom"> </td> <td colspan="1" style="vertical-align:bottom;width:1%;background-color:rgb(204, 238, 255);vertical-align:bottom"> <div style="line-height:1.25;font-family:'Times New Roman', Times, serif"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">$</span></span></div> </td> <td colspan="1" style="vertical-align:bottom;text-align:right;width:9%;background-color:rgb(204, 238, 255);vertical-align:bottom"> <div style="line-height:1.25;font-family:'Times New Roman', Times, serif"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">117,704</span></span></div> </td> <td colspan="1" style="vertical-align:bottom;width:1%;background-color:rgb(204, 238, 255);vertical-align:bottom;white-space:nowrap"> </td> <td colspan="1" style="vertical-align:bottom;width:1%;background-color:rgb(204, 238, 255);vertical-align:bottom"> </td> <td colspan="1" style="vertical-align:bottom;width:1%;background-color:rgb(204, 238, 255);vertical-align:bottom"> <div style="line-height:1.25;font-family:'Times New Roman', Times, serif"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">$</span></span></div> </td> <td colspan="1" style="vertical-align:bottom;text-align:right;width:9%;background-color:rgb(204, 238, 255);vertical-align:bottom"> <div style="line-height:1.25;font-family:'Times New Roman', Times, serif"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">7,874</span></span></div> </td> <td colspan="1" style="vertical-align:bottom;width:1%;background-color:rgb(204, 238, 255);vertical-align:bottom;white-space:nowrap"> </td> </tr> <tr> <td style="vertical-align:middle;width:76%;vertical-align:bottom"> <div style="text-align:justify;line-height:1.25;font-family:'Times New Roman', Times, serif"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">Deferred tax asset - see Note 17C</span></span></div> </td> <td colspan="1" style="vertical-align:bottom;width:1%;vertical-align:bottom"> </td> <td colspan="1" style="vertical-align:bottom;width:1%;vertical-align:bottom"> </td> <td colspan="1" style="vertical-align:bottom;text-align:right;width:9%;vertical-align:bottom"> <div style="line-height:1.25;font-family:'Times New Roman', Times, serif"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">13,354</span></span></div> </td> <td colspan="1" style="vertical-align:bottom;width:1%;vertical-align:bottom;white-space:nowrap"> </td> <td colspan="1" style="vertical-align:bottom;width:1%;vertical-align:bottom"> </td> <td colspan="1" style="vertical-align:bottom;width:1%;vertical-align:bottom"> </td> <td colspan="1" style="vertical-align:bottom;text-align:right;width:9%;vertical-align:bottom"> <div style="line-height:1.25;font-family:'Times New Roman', Times, serif"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">1,768</span></span></div> </td> <td colspan="1" style="vertical-align:bottom;width:1%;vertical-align:bottom;white-space:nowrap"> </td> </tr> <tr> <td style="vertical-align:middle;width:76%;background-color:rgb(204, 238, 255);vertical-align:bottom"> <div style="text-align:justify;line-height:1.25;font-family:'Times New Roman', Times, serif"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">Investments in privately held companies</span></span></div> </td> <td colspan="1" style="vertical-align:bottom;width:1%;background-color:rgb(204, 238, 255);vertical-align:bottom"> </td> <td colspan="1" style="vertical-align:bottom;width:1%;background-color:rgb(204, 238, 255);vertical-align:bottom"> </td> <td colspan="1" style="vertical-align:bottom;text-align:right;width:9%;background-color:rgb(204, 238, 255);vertical-align:bottom"> <div style="line-height:1.25;font-family:'Times New Roman', Times, serif"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">4,427</span></span></div> </td> <td colspan="1" style="vertical-align:bottom;width:1%;background-color:rgb(204, 238, 255);vertical-align:bottom;white-space:nowrap"> </td> <td colspan="1" style="vertical-align:bottom;width:1%;background-color:rgb(204, 238, 255);vertical-align:bottom"> </td> <td colspan="1" style="vertical-align:bottom;width:1%;background-color:rgb(204, 238, 255);vertical-align:bottom"> </td> <td colspan="1" style="vertical-align:bottom;text-align:right;width:9%;background-color:rgb(204, 238, 255);vertical-align:bottom"> <div style="line-height:1.25;font-family:'Times New Roman', Times, serif"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">6,780</span></span></div> </td> <td colspan="1" style="vertical-align:bottom;width:1%;background-color:rgb(204, 238, 255);vertical-align:bottom;white-space:nowrap"> </td> </tr> <tr> <td style="vertical-align:middle;width:76%;vertical-align:bottom"> <div style="text-align:justify;line-height:1.25;font-family:'Times New Roman', Times, serif"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">Prepaid long-term land lease, net</span></span></div> </td> <td colspan="1" style="vertical-align:bottom;width:1%;vertical-align:bottom"> </td> <td colspan="1" style="vertical-align:bottom;width:1%;vertical-align:bottom"> </td> <td colspan="1" style="vertical-align:bottom;text-align:right;width:9%;vertical-align:bottom"> <div style="line-height:1.25;font-family:'Times New Roman', Times, serif"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">2,451</span></span></div> </td> <td colspan="1" style="vertical-align:bottom;width:1%;vertical-align:bottom;white-space:nowrap"> </td> <td colspan="1" style="vertical-align:bottom;width:1%;vertical-align:bottom"> </td> <td colspan="1" style="vertical-align:bottom;width:1%;vertical-align:bottom"> </td> <td colspan="1" style="vertical-align:bottom;text-align:right;width:9%;vertical-align:bottom"> <div style="line-height:1.25;font-family:'Times New Roman', Times, serif"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">2,572</span></span></div> </td> <td colspan="1" style="vertical-align:bottom;width:1%;vertical-align:bottom;white-space:nowrap"> </td> </tr> <tr> <td style="vertical-align:middle;width:76%;background-color:rgb(204, 238, 255);vertical-align:bottom"> <div style="text-align:justify;line-height:1.25;font-family:'Times New Roman', Times, serif"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">Pension plan net assets</span></span></div> </td> <td colspan="1" style="vertical-align:bottom;width:1%;background-color:rgb(204, 238, 255);vertical-align:bottom"> </td> <td colspan="1" style="vertical-align:bottom;width:1%;background-color:rgb(204, 238, 255);vertical-align:bottom"> </td> <td colspan="1" style="vertical-align:bottom;text-align:right;width:9%;background-color:rgb(204, 238, 255);vertical-align:bottom"> <div style="line-height:1.25;font-family:'Times New Roman', Times, serif"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">1,810</span></span></div> </td> <td colspan="1" style="vertical-align:bottom;width:1%;background-color:rgb(204, 238, 255);vertical-align:bottom;white-space:nowrap"> </td> <td colspan="1" style="vertical-align:bottom;width:1%;background-color:rgb(204, 238, 255);vertical-align:bottom"> </td> <td colspan="1" style="vertical-align:bottom;width:1%;background-color:rgb(204, 238, 255);vertical-align:bottom"> </td> <td colspan="1" style="vertical-align:bottom;text-align:right;width:9%;background-color:rgb(204, 238, 255);vertical-align:bottom"> <div style="line-height:1.25;font-family:'Times New Roman', Times, serif"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">1,870</span></span></div> </td> <td colspan="1" style="vertical-align:bottom;width:1%;background-color:rgb(204, 238, 255);vertical-align:bottom;white-space:nowrap"> </td> </tr> <tr> <td style="vertical-align:middle;width:76%;padding-bottom:2px;vertical-align:bottom"> <div style="text-align:justify;line-height:1.25;font-family:'Times New Roman', Times, serif"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">Long-term prepaid expenses</span></span></div> </td> <td colspan="1" style="vertical-align:bottom;width:1%;padding-bottom:2px;vertical-align:bottom"> </td> <td colspan="1" style="vertical-align:bottom;width:1%;border-bottom:2px solid rgb(0, 0, 0);vertical-align:bottom"> </td> <td colspan="1" style="vertical-align:bottom;text-align:right;width:9%;border-bottom:2px solid rgb(0, 0, 0);vertical-align:bottom"> <div style="line-height:1.25;font-family:'Times New Roman', Times, serif"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">1,336</span></span></div> </td> <td colspan="1" style="vertical-align:bottom;width:1%;padding-bottom:2px;vertical-align:bottom;white-space:nowrap"> </td> <td colspan="1" style="vertical-align:bottom;width:1%;padding-bottom:2px;vertical-align:bottom"> </td> <td colspan="1" style="vertical-align:bottom;width:1%;border-bottom:2px solid rgb(0, 0, 0);vertical-align:bottom"> </td> <td colspan="1" style="vertical-align:bottom;text-align:right;width:9%;border-bottom:2px solid rgb(0, 0, 0);vertical-align:bottom"> <div style="line-height:1.25;font-family:'Times New Roman', Times, serif"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">2,514</span></span></div> </td> <td colspan="1" style="vertical-align:bottom;width:1%;padding-bottom:2px;vertical-align:bottom;white-space:nowrap"> </td> </tr> <tr> <td style="vertical-align:middle;width:76%;padding-bottom:4px;background-color:rgb(204, 238, 255);vertical-align:bottom"> </td> <td colspan="1" style="vertical-align:bottom;width:1%;padding-bottom:4px;background-color:rgb(204, 238, 255);vertical-align:bottom"> </td> <td colspan="1" style="vertical-align:bottom;width:1%;border-bottom:4px double rgb(0, 0, 0);background-color:rgb(204, 238, 255);vertical-align:bottom"> <div style="line-height:1.25"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span>$</span></span></span></div> </td> <td colspan="1" style="vertical-align:bottom;text-align:right;width:9%;border-bottom:4px double rgb(0, 0, 0);background-color:rgb(204, 238, 255);vertical-align:bottom"> <div style="line-height:1.25"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span>141,082</span></span></span></div> </td> <td colspan="1" style="vertical-align:bottom;width:1%;padding-bottom:4px;background-color:rgb(204, 238, 255);vertical-align:bottom;white-space:nowrap"> </td> <td colspan="1" style="vertical-align:bottom;width:1%;padding-bottom:4px;background-color:rgb(204, 238, 255);vertical-align:bottom"> </td> <td colspan="1" style="vertical-align:bottom;width:1%;border-bottom:4px double rgb(0, 0, 0);background-color:rgb(204, 238, 255);vertical-align:bottom"> <div style="line-height:1.25"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span>$</span></span></span></div> </td> <td colspan="1" style="vertical-align:bottom;text-align:right;width:9%;border-bottom:4px double rgb(0, 0, 0);background-color:rgb(204, 238, 255);vertical-align:bottom"> <div style="line-height:1.25"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span>23,378</span></span></span></div> </td> <td colspan="1" style="vertical-align:bottom;width:1%;padding-bottom:4px;background-color:rgb(204, 238, 255);vertical-align:bottom;white-space:nowrap"> </td> </tr> </table> </div> </div> </div> </div> </div> </div> </div> </div> </div> </div> </div> </div> </div> </div> </div> </div> </div> </div> </div> </div> </div> </div> 117704000 7874000 13354000 1768000 4427000 6780000 2451000 2572000 1810000 1870000 1336000 2514000 141082000 23378000 <div> <div style="line-height:1.25"> <div style="line-height:1.25"> <div style="line-height:1.25"> <div style="line-height:1.25"> <div style="line-height:1.25"> <div style="line-height:1.25"> <div style="line-height:1.25"> <div style="line-height:1.25"> <div style="line-height:1.25"> <div style="line-height:1.25"> <table border="0" cellpadding="0" cellspacing="0" style="font-family:'Times New Roman', Times, serif;font-size:10pt;color:#000000;width:100%"> <tr> <td style="width:56pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span style="font-weight:bold">NOTE 8:</span></span></span></td> <td style="width:auto"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span style="font-weight:bold">OTHER CURRENT LIABILITIES</span></span></span></td> </tr> </table> <div> </div> </div> </div> </div> </div> </div> </div> </div> </div> </div> </div> <div> <div style="line-height:1.25"> <div style="line-height:1.25"> <div style="line-height:1.25"> <div style="line-height:1.25"> <div style="line-height:1.25"> <div style="line-height:1.25"> <div style="line-height:1.25"> <div style="line-height:1.25"> <div style="line-height:1.25"> <div style="line-height:1.25"> <div style="line-height:1.25"> <table border="0" cellpadding="0" cellspacing="0" style="font-family:'Times New Roman', Times, serif;font-size:10pt;color:#000000;width:100%"> <tr> <td style="width:56pt"> </td> <td style="width:auto"> <div style="line-height:1.25"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">Other current liabilities consist of the following as of December 31, 2025 and 2024:</span></span></div> </td> </tr> </table> <div> </div> </div> </div> </div> </div> </div> </div> </div> </div> </div> </div> </div> <div style="margin-left:72pt"> <table border="0" cellpadding="0" cellspacing="0" style="width:85%;color:rgb(0, 0, 0);font-family:Times New Roman, Times, serif;font-size:10pt;text-align:left"> <tr> <td rowspan="1" style="vertical-align:top;padding-bottom:2px;vertical-align:bottom"> <div style="text-align:justify;line-height:1.25"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">Details</span></span></div> </td> <td colspan="1" rowspan="1" style="text-align:center;vertical-align:bottom;padding-bottom:2px;vertical-align:bottom"> </td> <td colspan="2" rowspan="1" style="text-align:center;vertical-align:bottom;border-bottom:#000000 solid 2px;vertical-align:bottom"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">2025</span></span></td> <td colspan="1" rowspan="1" style="vertical-align:bottom;padding-bottom:2px;vertical-align:bottom;white-space:nowrap"> </td> <td colspan="1" rowspan="1" style="text-align:center;vertical-align:bottom;padding-bottom:2px;vertical-align:bottom"> </td> <td colspan="2" rowspan="1" style="text-align:center;vertical-align:bottom;border-bottom:#000000 solid 2px;vertical-align:bottom"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">2024</span></span></td> <td colspan="1" rowspan="1" style="vertical-align:bottom;padding-bottom:2px;vertical-align:bottom;white-space:nowrap"> </td> </tr> <tr> <td style="vertical-align:top;background-color:rgb(204, 238, 255);width:76%;vertical-align:bottom"> <div style="text-align:justify;line-height:1.25"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">Tax payables</span></span></div> </td> <td colspan="1" style="text-align:right;vertical-align:bottom;width:1%;background-color:rgb(204, 238, 255);vertical-align:bottom"> </td> <td colspan="1" style="background-color:rgb(204, 238, 255);vertical-align:bottom;width:1%;vertical-align:bottom"> <div style="line-height:1.25"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">$</span></span></div> </td> <td colspan="1" style="background-color:rgb(204, 238, 255);vertical-align:bottom;text-align:right;width:9%;vertical-align:bottom"> <div style="line-height:1.25"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">7,105</span></span></div> </td> <td colspan="1" style="background-color:rgb(204, 238, 255);vertical-align:bottom;width:1%;vertical-align:bottom;white-space:nowrap"> </td> <td colspan="1" style="text-align:right;vertical-align:bottom;width:1%;background-color:rgb(204, 238, 255);vertical-align:bottom"> </td> <td colspan="1" style="background-color:rgb(204, 238, 255);vertical-align:bottom;width:1%;vertical-align:bottom"> <div style="line-height:1.25"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">$</span></span></div> </td> <td colspan="1" style="background-color:rgb(204, 238, 255);vertical-align:bottom;text-align:right;width:9%;vertical-align:bottom"> <div style="line-height:1.25"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">12,428</span></span></div> </td> <td colspan="1" style="background-color:rgb(204, 238, 255);vertical-align:bottom;width:1%;vertical-align:bottom;white-space:nowrap"> </td> </tr> <tr> <td style="vertical-align:top;width:76%;vertical-align:bottom"> <div style="text-align:justify;line-height:1.25"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">Hedging transactions related payables - see Note 10A</span></span></div> </td> <td colspan="1" style="text-align:right;vertical-align:bottom;width:1%;vertical-align:bottom"> </td> <td colspan="1" style="vertical-align:bottom;width:1%;vertical-align:bottom"> </td> <td colspan="1" style="vertical-align:bottom;text-align:right;width:9%;vertical-align:bottom"> <div style="line-height:1.25"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">4,806</span></span></div> </td> <td colspan="1" style="vertical-align:bottom;width:1%;vertical-align:bottom;white-space:nowrap"> </td> <td colspan="1" style="text-align:right;vertical-align:bottom;width:1%;vertical-align:bottom"> </td> <td colspan="1" style="vertical-align:bottom;width:1%;vertical-align:bottom"> </td> <td colspan="1" style="vertical-align:bottom;text-align:right;width:9%;vertical-align:bottom"> <div style="line-height:1.25"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">5,070</span></span></div> </td> <td colspan="1" style="vertical-align:bottom;width:1%;vertical-align:bottom;white-space:nowrap"> </td> </tr> <tr> <td style="vertical-align:top;background-color:rgb(204, 238, 255);width:76%;padding-bottom:2px;vertical-align:bottom"> <div style="text-align:justify;line-height:1.25"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">Others</span></span></div> </td> <td colspan="1" style="text-align:right;vertical-align:bottom;width:1%;padding-bottom:2px;background-color:rgb(204, 238, 255);vertical-align:bottom"> </td> <td colspan="1" style="background-color:rgb(204, 238, 255);vertical-align:bottom;width:1%;border-bottom:2px solid rgb(0, 0, 0);vertical-align:bottom"> </td> <td colspan="1" style="background-color:rgb(204, 238, 255);vertical-align:bottom;text-align:right;width:9%;border-bottom:2px solid rgb(0, 0, 0);vertical-align:bottom"> <div style="line-height:1.25"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">3,929</span></span></div> </td> <td colspan="1" style="background-color:rgb(204, 238, 255);vertical-align:bottom;width:1%;padding-bottom:2px;vertical-align:bottom;white-space:nowrap"> </td> <td colspan="1" style="text-align:right;vertical-align:bottom;width:1%;padding-bottom:2px;background-color:rgb(204, 238, 255);vertical-align:bottom"> </td> <td colspan="1" style="background-color:rgb(204, 238, 255);vertical-align:bottom;width:1%;border-bottom:2px solid rgb(0, 0, 0);vertical-align:bottom"> </td> <td colspan="1" style="background-color:rgb(204, 238, 255);vertical-align:bottom;text-align:right;width:9%;border-bottom:2px solid rgb(0, 0, 0);vertical-align:bottom"> <div style="line-height:1.25"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">1,712</span></span></div> </td> <td colspan="1" style="background-color:rgb(204, 238, 255);vertical-align:bottom;width:1%;padding-bottom:2px;vertical-align:bottom;white-space:nowrap"> </td> </tr> <tr> <td style="vertical-align:top;width:76%;padding-bottom:4px;vertical-align:bottom"> </td> <td colspan="1" style="text-align:right;vertical-align:bottom;width:1%;padding-bottom:4px;vertical-align:bottom"> </td> <td colspan="1" style="vertical-align:bottom;width:1%;border-bottom:4px double rgb(0, 0, 0);vertical-align:bottom"> <div style="line-height:1.25"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">$</span></span></div> </td> <td colspan="1" style="vertical-align:bottom;text-align:right;width:9%;border-bottom:4px double rgb(0, 0, 0);vertical-align:bottom"> <div style="line-height:1.25"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">15,840</span></span></div> </td> <td colspan="1" style="vertical-align:bottom;width:1%;padding-bottom:4px;vertical-align:bottom;white-space:nowrap"> </td> <td colspan="1" style="text-align:right;vertical-align:bottom;width:1%;padding-bottom:4px;vertical-align:bottom"> </td> <td colspan="1" style="vertical-align:bottom;width:1%;border-bottom:4px double rgb(0, 0, 0);vertical-align:bottom"> <div style="line-height:1.25"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">$</span></span></div> </td> <td colspan="1" style="vertical-align:bottom;text-align:right;width:9%;border-bottom:4px double rgb(0, 0, 0);vertical-align:bottom"> <div style="line-height:1.25"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">19,210</span></span></div> </td> </tr> </table> </div> </div> </div> <div> <div style="line-height:1.25"> <div style="line-height:1.25"> <div style="line-height:1.25"> <div style="line-height:1.25"> <div style="line-height:1.25"> <div style="line-height:1.25"> <div style="line-height:1.25"> <div style="line-height:1.25"> <div style="line-height:1.25"> <div style="line-height:1.25"> <div style="line-height:1.25"> <table border="0" cellpadding="0" cellspacing="0" style="font-family:'Times New Roman', Times, serif;font-size:10pt;color:#000000;width:100%"> <tr> <td style="width:56pt"> </td> <td style="width:auto"> <div style="line-height:1.25"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">Other current liabilities consist of the following as of December 31, 2025 and 2024:</span></span></div> </td> </tr> </table> <div> </div> </div> </div> </div> </div> </div> </div> </div> </div> </div> </div> </div> <div style="margin-left:72pt"> <table border="0" cellpadding="0" cellspacing="0" style="width:85%;color:rgb(0, 0, 0);font-family:Times New Roman, Times, serif;font-size:10pt;text-align:left"> <tr> <td rowspan="1" style="vertical-align:top;padding-bottom:2px;vertical-align:bottom"> <div style="text-align:justify;line-height:1.25"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">Details</span></span></div> </td> <td colspan="1" rowspan="1" style="text-align:center;vertical-align:bottom;padding-bottom:2px;vertical-align:bottom"> </td> <td colspan="2" rowspan="1" style="text-align:center;vertical-align:bottom;border-bottom:#000000 solid 2px;vertical-align:bottom"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">2025</span></span></td> <td colspan="1" rowspan="1" style="vertical-align:bottom;padding-bottom:2px;vertical-align:bottom;white-space:nowrap"> </td> <td colspan="1" rowspan="1" style="text-align:center;vertical-align:bottom;padding-bottom:2px;vertical-align:bottom"> </td> <td colspan="2" rowspan="1" style="text-align:center;vertical-align:bottom;border-bottom:#000000 solid 2px;vertical-align:bottom"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">2024</span></span></td> <td colspan="1" rowspan="1" style="vertical-align:bottom;padding-bottom:2px;vertical-align:bottom;white-space:nowrap"> </td> </tr> <tr> <td style="vertical-align:top;background-color:rgb(204, 238, 255);width:76%;vertical-align:bottom"> <div style="text-align:justify;line-height:1.25"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">Tax payables</span></span></div> </td> <td colspan="1" style="text-align:right;vertical-align:bottom;width:1%;background-color:rgb(204, 238, 255);vertical-align:bottom"> </td> <td colspan="1" style="background-color:rgb(204, 238, 255);vertical-align:bottom;width:1%;vertical-align:bottom"> <div style="line-height:1.25"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">$</span></span></div> </td> <td colspan="1" style="background-color:rgb(204, 238, 255);vertical-align:bottom;text-align:right;width:9%;vertical-align:bottom"> <div style="line-height:1.25"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">7,105</span></span></div> </td> <td colspan="1" style="background-color:rgb(204, 238, 255);vertical-align:bottom;width:1%;vertical-align:bottom;white-space:nowrap"> </td> <td colspan="1" style="text-align:right;vertical-align:bottom;width:1%;background-color:rgb(204, 238, 255);vertical-align:bottom"> </td> <td colspan="1" style="background-color:rgb(204, 238, 255);vertical-align:bottom;width:1%;vertical-align:bottom"> <div style="line-height:1.25"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">$</span></span></div> </td> <td colspan="1" style="background-color:rgb(204, 238, 255);vertical-align:bottom;text-align:right;width:9%;vertical-align:bottom"> <div style="line-height:1.25"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">12,428</span></span></div> </td> <td colspan="1" style="background-color:rgb(204, 238, 255);vertical-align:bottom;width:1%;vertical-align:bottom;white-space:nowrap"> </td> </tr> <tr> <td style="vertical-align:top;width:76%;vertical-align:bottom"> <div style="text-align:justify;line-height:1.25"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">Hedging transactions related payables - see Note 10A</span></span></div> </td> <td colspan="1" style="text-align:right;vertical-align:bottom;width:1%;vertical-align:bottom"> </td> <td colspan="1" style="vertical-align:bottom;width:1%;vertical-align:bottom"> </td> <td colspan="1" style="vertical-align:bottom;text-align:right;width:9%;vertical-align:bottom"> <div style="line-height:1.25"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">4,806</span></span></div> </td> <td colspan="1" style="vertical-align:bottom;width:1%;vertical-align:bottom;white-space:nowrap"> </td> <td colspan="1" style="text-align:right;vertical-align:bottom;width:1%;vertical-align:bottom"> </td> <td colspan="1" style="vertical-align:bottom;width:1%;vertical-align:bottom"> </td> <td colspan="1" style="vertical-align:bottom;text-align:right;width:9%;vertical-align:bottom"> <div style="line-height:1.25"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">5,070</span></span></div> </td> <td colspan="1" style="vertical-align:bottom;width:1%;vertical-align:bottom;white-space:nowrap"> </td> </tr> <tr> <td style="vertical-align:top;background-color:rgb(204, 238, 255);width:76%;padding-bottom:2px;vertical-align:bottom"> <div style="text-align:justify;line-height:1.25"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">Others</span></span></div> </td> <td colspan="1" style="text-align:right;vertical-align:bottom;width:1%;padding-bottom:2px;background-color:rgb(204, 238, 255);vertical-align:bottom"> </td> <td colspan="1" style="background-color:rgb(204, 238, 255);vertical-align:bottom;width:1%;border-bottom:2px solid rgb(0, 0, 0);vertical-align:bottom"> </td> <td colspan="1" style="background-color:rgb(204, 238, 255);vertical-align:bottom;text-align:right;width:9%;border-bottom:2px solid rgb(0, 0, 0);vertical-align:bottom"> <div style="line-height:1.25"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">3,929</span></span></div> </td> <td colspan="1" style="background-color:rgb(204, 238, 255);vertical-align:bottom;width:1%;padding-bottom:2px;vertical-align:bottom;white-space:nowrap"> </td> <td colspan="1" style="text-align:right;vertical-align:bottom;width:1%;padding-bottom:2px;background-color:rgb(204, 238, 255);vertical-align:bottom"> </td> <td colspan="1" style="background-color:rgb(204, 238, 255);vertical-align:bottom;width:1%;border-bottom:2px solid rgb(0, 0, 0);vertical-align:bottom"> </td> <td colspan="1" style="background-color:rgb(204, 238, 255);vertical-align:bottom;text-align:right;width:9%;border-bottom:2px solid rgb(0, 0, 0);vertical-align:bottom"> <div style="line-height:1.25"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">1,712</span></span></div> </td> <td colspan="1" style="background-color:rgb(204, 238, 255);vertical-align:bottom;width:1%;padding-bottom:2px;vertical-align:bottom;white-space:nowrap"> </td> </tr> <tr> <td style="vertical-align:top;width:76%;padding-bottom:4px;vertical-align:bottom"> </td> <td colspan="1" style="text-align:right;vertical-align:bottom;width:1%;padding-bottom:4px;vertical-align:bottom"> </td> <td colspan="1" style="vertical-align:bottom;width:1%;border-bottom:4px double rgb(0, 0, 0);vertical-align:bottom"> <div style="line-height:1.25"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">$</span></span></div> </td> <td colspan="1" style="vertical-align:bottom;text-align:right;width:9%;border-bottom:4px double rgb(0, 0, 0);vertical-align:bottom"> <div style="line-height:1.25"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">15,840</span></span></div> </td> <td colspan="1" style="vertical-align:bottom;width:1%;padding-bottom:4px;vertical-align:bottom;white-space:nowrap"> </td> <td colspan="1" style="text-align:right;vertical-align:bottom;width:1%;padding-bottom:4px;vertical-align:bottom"> </td> <td colspan="1" style="vertical-align:bottom;width:1%;border-bottom:4px double rgb(0, 0, 0);vertical-align:bottom"> <div style="line-height:1.25"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">$</span></span></div> </td> <td colspan="1" style="vertical-align:bottom;text-align:right;width:9%;border-bottom:4px double rgb(0, 0, 0);vertical-align:bottom"> <div style="line-height:1.25"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">19,210</span></span></div> </td> </tr> </table> </div> </div> 7105000 12428000 4806000 5070000 3929000 1712000 15840000 19210000 <div> <div> <div style="line-height:1.25;clear:both"> <div style="line-height:1.25"> <div style="line-height:1.25"> <div style="line-height:1.25"> <div style="line-height:1.25"> <div style="line-height:1.25"> <div style="line-height:1.25"> <div style="line-height:1.25"> <div style="line-height:1.25"> <div style="line-height:1.25"> <div style="line-height:1.25"> <table border="0" cellpadding="0" cellspacing="0" style="font-family:'Times New Roman', Times, serif;font-size:10pt;color:#000000;width:100%"> <tr> <td style="width:56pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span><span style="font-weight:bold">NOTE 9:</span></span></span></span></span></td> <td style="width:auto"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span><span style="font-weight:bold">LONG-TERM DEBT</span></span></span></span></span></td> </tr> </table> <div> <div style="line-height:1.25"> <div> <div style="line-height:1.25"> <table border="0" cellpadding="0" cellspacing="0" style="font-family:'Times New Roman', Times, serif;font-size:10pt;color:#000000;width:100%"> <tr> <td style="width:56pt"> <div> </div> </td> <td style="font-weight:bold;width:22pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>A.</span></span></span></span></td> <td style="font-weight:bold;width:auto"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span><span style="font-weight:bold">Composition</span></span></span></span></span></td> </tr> </table> <div style="line-height:1.25"> <table border="0" cellpadding="0" cellspacing="0" style="font-family:'Times New Roman', Times, serif;font-size:10pt;color:#000000;width:100%"> <tr> <td style="width:56pt"> <div> </div> </td> <td style="width:22pt"> </td> <td style="width:auto"> <div style="text-align:justify;line-height:1.25"> <div style="line-height:1.25"> <div style="line-height:1.25"> <div style="line-height:1.25"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>As of December 31, 2025 and 2024:</span></span></span></span></div> </div> </div> </div> </td> </tr> </table> <div> </div> </div> </div> </div> </div> </div> </div> </div> </div> </div> </div> </div> </div> </div> </div> </div> </div> <div style="margin-left:99pt"> <table border="0" cellpadding="0" cellspacing="0" style="width:85%;color:#000000;font-family:'Times New Roman', Times, serif;font-size:10pt;text-align:left"> <tr> <td style="vertical-align:middle;padding-bottom:2px;vertical-align:bottom"> <div style="text-align:justify;line-height:1.25"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>Details</span></span></span></span></div> </td> <td colspan="1" style="vertical-align:bottom;padding-bottom:2px;vertical-align:bottom"> </td> <td colspan="2" style="vertical-align:bottom;border-bottom:2px solid rgb(0, 0, 0);text-align:center"> <div style="line-height:1.25"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>2025</span></span></span></span></div> </td> <td colspan="1" style="text-align:center;vertical-align:bottom;padding-bottom:2px;white-space:nowrap"> </td> <td colspan="1" style="vertical-align:bottom;padding-bottom:2px;text-align:center"> </td> <td colspan="2" style="vertical-align:bottom;border-bottom:2px solid rgb(0, 0, 0);text-align:center"> <div style="line-height:1.25"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>2024</span></span></span></span></div> </td> <td colspan="1" style="vertical-align:bottom;padding-bottom:2px;vertical-align:bottom;white-space:nowrap"> </td> </tr> <tr> <td style="vertical-align:top;width:76%;background-color:rgb(204, 238, 255);vertical-align:bottom"> <div style="text-align:justify;line-height:1.25"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>JPY loans - principal amount - see Notes 9B and 9C below</span></span></span></span></div> </td> <td colspan="1" style="vertical-align:bottom;width:1%;background-color:rgb(204, 238, 255);vertical-align:bottom"> </td> <td colspan="1" style="vertical-align:bottom;width:1%;background-color:rgb(204, 238, 255);vertical-align:bottom"> <div style="line-height:1.25"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>$</span></span></span></span></div> </td> <td colspan="1" style="vertical-align:bottom;text-align:right;width:9%;background-color:rgb(204, 238, 255);vertical-align:bottom"> <div style="line-height:1.25"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">92,568</span></span></div> </td> <td colspan="1" style="vertical-align:bottom;width:1%;background-color:rgb(204, 238, 255);vertical-align:bottom;white-space:nowrap"> </td> <td colspan="1" style="vertical-align:bottom;width:1%;background-color:rgb(204, 238, 255);vertical-align:bottom"> </td> <td colspan="1" style="vertical-align:bottom;width:1%;background-color:rgb(204, 238, 255);vertical-align:bottom"> <div style="line-height:1.25"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>$</span></span></span></span></div> </td> <td colspan="1" style="vertical-align:bottom;text-align:right;width:9%;background-color:rgb(204, 238, 255);vertical-align:bottom"> <div style="line-height:1.25"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">98,962</span></span></div> </td> <td colspan="1" style="vertical-align:bottom;width:1%;background-color:rgb(204, 238, 255);vertical-align:bottom;white-space:nowrap"> </td> </tr> <tr> <td style="vertical-align:top;width:76%;vertical-align:bottom"> <div style="text-align:justify;line-height:1.25"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span><span style="-sec-ix-hidden:Fxbrl_20260224110048599"><span style="-sec-ix-hidden:Fxbrl_20240229205751255">Capital leases and other long-term liabilities - see Note 9D below</span></span></span></span></span></span></div> </td> <td colspan="1" style="vertical-align:bottom;width:1%;vertical-align:bottom"> </td> <td colspan="1" style="vertical-align:bottom;width:1%;vertical-align:bottom"> </td> <td colspan="1" style="vertical-align:bottom;text-align:right;width:9%;vertical-align:bottom"> <div style="line-height:1.25"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">52,928</span></span></div> </td> <td colspan="1" style="vertical-align:bottom;width:1%;vertical-align:bottom;white-space:nowrap"> </td> <td colspan="1" style="vertical-align:bottom;width:1%;vertical-align:bottom"> </td> <td colspan="1" style="vertical-align:bottom;width:1%;vertical-align:bottom"> </td> <td colspan="1" style="vertical-align:bottom;text-align:right;width:9%;vertical-align:bottom"> <div style="line-height:1.25"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">73,977</span></span></div> </td> <td colspan="1" style="vertical-align:bottom;width:1%;vertical-align:bottom;white-space:nowrap"> </td> </tr> <tr> <td style="vertical-align:bottom;width:76%;background-color:rgb(204, 238, 255);vertical-align:bottom"> <div style="text-align:justify;line-height:1.25"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>Operating leases - see Note 9E below</span></span></span></span></div> </td> <td colspan="1" style="vertical-align:bottom;width:1%;background-color:rgb(204, 238, 255);vertical-align:bottom"> </td> <td colspan="1" style="vertical-align:bottom;width:1%;background-color:rgb(204, 238, 255);vertical-align:bottom"> </td> <td colspan="1" style="vertical-align:bottom;text-align:right;width:9%;background-color:rgb(204, 238, 255);vertical-align:bottom"> <div style="line-height:1.25"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">16,022</span></span></div> </td> <td colspan="1" style="vertical-align:bottom;width:1%;background-color:rgb(204, 238, 255);vertical-align:bottom;white-space:nowrap"> </td> <td colspan="1" style="vertical-align:bottom;width:1%;background-color:rgb(204, 238, 255);vertical-align:bottom"> </td> <td colspan="1" style="vertical-align:bottom;width:1%;background-color:rgb(204, 238, 255);vertical-align:bottom"> </td> <td colspan="1" style="vertical-align:bottom;text-align:right;width:9%;background-color:rgb(204, 238, 255);vertical-align:bottom"> <div style="line-height:1.25"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">7,874</span></span></div> </td> <td colspan="1" style="vertical-align:bottom;width:1%;background-color:rgb(204, 238, 255);vertical-align:bottom;white-space:nowrap"> </td> </tr> <tr> <td style="vertical-align:bottom;width:76%;padding-bottom:2px;vertical-align:bottom"> <div style="text-align:justify;line-height:1.25"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>Less - current maturities</span></span></span></span></div> </td> <td colspan="1" style="vertical-align:bottom;width:1%;padding-bottom:2px;vertical-align:bottom"> </td> <td colspan="1" style="vertical-align:bottom;width:1%;border-bottom:2px solid rgb(0, 0, 0);vertical-align:bottom"> </td> <td colspan="1" style="vertical-align:bottom;text-align:right;width:9%;border-bottom:2px solid rgb(0, 0, 0);vertical-align:bottom"> <div style="line-height:1.25"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">(28,112</span></span></div> </td> <td colspan="1" style="vertical-align:bottom;width:1%;padding-bottom:2px;vertical-align:bottom;white-space:nowrap"> <div style="line-height:1.25"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>)</span></span></span></span></div> </td> <td colspan="1" style="vertical-align:bottom;width:1%;padding-bottom:2px;vertical-align:bottom"> </td> <td colspan="1" style="vertical-align:bottom;width:1%;border-bottom:2px solid rgb(0, 0, 0);vertical-align:bottom"> </td> <td colspan="1" style="vertical-align:bottom;text-align:right;width:9%;border-bottom:2px solid rgb(0, 0, 0);vertical-align:bottom"> <div style="line-height:1.25"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">(48,376</span></span></div> </td> <td colspan="1" style="vertical-align:bottom;width:1%;padding-bottom:2px;vertical-align:bottom;white-space:nowrap"> <div style="line-height:1.25"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>)</span></span></span></span></div> </td> </tr> <tr> <td style="vertical-align:middle;width:76%;padding-bottom:4px;background-color:rgb(204, 238, 255);vertical-align:bottom"> </td> <td colspan="1" style="vertical-align:bottom;width:1%;padding-bottom:4px;background-color:rgb(204, 238, 255);vertical-align:bottom"> </td> <td colspan="1" style="vertical-align:bottom;width:1%;border-bottom:4px double rgb(0, 0, 0);background-color:rgb(204, 238, 255);vertical-align:bottom"> <div style="line-height:1.25"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>$</span></span></span></span></div> </td> <td colspan="1" style="vertical-align:bottom;text-align:right;width:9%;border-bottom:4px double rgb(0, 0, 0);background-color:rgb(204, 238, 255);vertical-align:bottom"> <div style="line-height:1.25"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">133,406</span></span></div> </td> <td colspan="1" style="vertical-align:bottom;width:1%;padding-bottom:4px;background-color:rgb(204, 238, 255);vertical-align:bottom;white-space:nowrap"> </td> <td colspan="1" style="vertical-align:bottom;width:1%;padding-bottom:4px;background-color:rgb(204, 238, 255);vertical-align:bottom"> </td> <td colspan="1" style="vertical-align:bottom;width:1%;border-bottom:4px double rgb(0, 0, 0);background-color:rgb(204, 238, 255);vertical-align:bottom"> <div style="line-height:1.25"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>$</span></span></span></span></div> </td> <td colspan="1" style="vertical-align:bottom;text-align:right;width:9%;border-bottom:4px double rgb(0, 0, 0);background-color:rgb(204, 238, 255);vertical-align:bottom"> <div style="line-height:1.25"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">132,437</span></span></div> </td> <td colspan="1" style="vertical-align:bottom;width:1%;padding-bottom:4px;background-color:rgb(204, 238, 255);vertical-align:bottom;white-space:nowrap"> </td> </tr> </table> </div> <div style="line-height:1.25;clear:both"> <div style="line-height:1.25"> <div> <div style="line-height:1.25"> <table border="0" cellpadding="0" cellspacing="0" style="font-family:'Times New Roman', Times, serif;font-size:10pt;color:#000000;width:100%"> <tr> <td style="width:56pt"> <div> </div> </td> <td style="font-weight:bold;width:22pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>B.</span></span></span></span></td> <td style="font-weight:bold;width:auto"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span><span style="font-weight:bold">Repayment Schedule of Long-term JPY Loans</span></span></span></span></span></td> </tr> </table> <div style="line-height:1.25"> <table border="0" cellpadding="0" cellspacing="0" style="font-family:'Times New Roman', Times, serif;font-size:10pt;color:#000000;width:100%"> <tr> <td style="width:56pt"> <div> </div> </td> <td style="width:22pt"> </td> <td style="width:auto"> <div style="text-align:justify;line-height:1.25"> <div style="line-height:1.25"> <div style="line-height:1.25"> <div style="line-height:1.25"> <div style="line-height:1.25"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>As of December 31, 2025:</span></span></span></span></div> </div> </div> </div> </div> </td> </tr> </table> <div style="text-align:justify;margin-left:63pt;line-height:1.25"> </div> </div> </div> </div> </div> </div> <div> <div style="margin-left:99pt"> <table border="0" cellpadding="0" cellspacing="0" style="width:85%;color:#000000;font-family:'Times New Roman', Times, serif;font-size:10pt;text-align:left"> <tr> <td style="vertical-align:bottom;border-bottom:2px solid rgb(0, 0, 0);text-align:center"> <div style="line-height:1.25"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>Details</span></span></span></span></div> </td> <td colspan="1" style="vertical-align:bottom;padding-bottom:2px;vertical-align:bottom"> </td> <td colspan="2" style="vertical-align:bottom;border-bottom:2px solid rgb(0, 0, 0);text-align:center"> <div style="line-height:1.25"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>Interest</span></span></span></span></div> <div style="line-height:1.25"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>Rate</span></span></span></span></div> </td> <td colspan="1" style="text-align:center;vertical-align:bottom;padding-bottom:2px;white-space:nowrap"> </td> <td colspan="1" style="vertical-align:bottom;padding-bottom:2px;text-align:center"> </td> <td colspan="2" style="vertical-align:bottom;border-bottom:2px solid rgb(0, 0, 0);text-align:center"> <div style="line-height:1.25"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>2026</span></span></span></span></div> </td> <td colspan="1" style="text-align:center;vertical-align:bottom;padding-bottom:2px;white-space:nowrap"> </td> <td colspan="1" style="vertical-align:bottom;padding-bottom:2px;text-align:center"> </td> <td colspan="2" style="vertical-align:bottom;border-bottom:2px solid rgb(0, 0, 0);text-align:center"> <div style="line-height:1.25"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>2027</span></span></span></span></div> </td> <td colspan="1" style="text-align:center;vertical-align:bottom;padding-bottom:2px;white-space:nowrap"> </td> <td colspan="1" style="vertical-align:bottom;padding-bottom:2px;text-align:center"> </td> <td colspan="2" style="vertical-align:bottom;border-bottom:2px solid rgb(0, 0, 0);text-align:center"> <div style="line-height:1.25"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>2028</span></span></span></span></div> </td> <td colspan="1" style="text-align:center;vertical-align:bottom;padding-bottom:2px;white-space:nowrap"> </td> <td colspan="1" style="vertical-align:bottom;padding-bottom:2px;text-align:center"> </td> <td colspan="2" style="vertical-align:bottom;border-bottom:2px solid rgb(0, 0, 0);text-align:center"> <div style="line-height:1.25"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>2029</span></span></span></span></div> </td> <td colspan="1" style="text-align:center;vertical-align:bottom;padding-bottom:2px;white-space:nowrap"> </td> <td colspan="1" style="vertical-align:bottom;padding-bottom:2px;text-align:center"> </td> <td colspan="2" style="vertical-align:bottom;border-bottom:2px solid rgb(0, 0, 0);text-align:center"> <div style="line-height:1.25"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>2030</span></span></span></span></div> </td> <td colspan="1" style="text-align:center;vertical-align:bottom;padding-bottom:2px;white-space:nowrap"> </td> <td colspan="1" style="vertical-align:bottom;padding-bottom:2px;text-align:center"> </td> <td colspan="2" style="vertical-align:bottom;border-bottom:2px solid rgb(0, 0, 0);text-align:center"> <div style="line-height:1.25"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>Total</span></span></span></span></div> </td> <td colspan="1" style="vertical-align:bottom;padding-bottom:2px;vertical-align:bottom;white-space:nowrap"> </td> </tr> <tr> <td style="vertical-align:top;width:16%;padding-bottom:4px;background-color:rgb(204, 238, 255);vertical-align:bottom"> <div style="text-align:justify;line-height:1.25"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>Long-term JPY loans</span></span></span></span></div> </td> <td colspan="1" style="vertical-align:bottom;width:1%;padding-bottom:4px;background-color:rgb(204, 238, 255);vertical-align:bottom"> </td> <td colspan="1" style="vertical-align:bottom;width:1%;background-color:rgb(204, 238, 255);padding-bottom:4px;vertical-align:bottom"> </td> <td colspan="1" style="vertical-align:bottom;text-align:right;width:9%;background-color:rgb(204, 238, 255);padding-bottom:4px;vertical-align:bottom"> <div style="line-height:1.25"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">2.0</span></span></div> </td> <td colspan="1" style="vertical-align:bottom;width:1%;padding-bottom:4px;background-color:rgb(204, 238, 255);vertical-align:bottom;white-space:nowrap"> </td> <td colspan="1" style="vertical-align:bottom;width:1%;padding-bottom:4px;background-color:rgb(204, 238, 255);vertical-align:bottom"> </td> <td colspan="1" style="vertical-align:bottom;width:1%;border-bottom:4px double rgb(0, 0, 0);background-color:rgb(204, 238, 255);vertical-align:bottom"> <div style="line-height:1.25"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>$</span></span></span></span></div> </td> <td colspan="1" style="vertical-align:bottom;text-align:right;width:9%;border-bottom:4px double rgb(0, 0, 0);background-color:rgb(204, 238, 255);vertical-align:bottom"> <div style="line-height:1.25"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">-</span></span></div> </td> <td colspan="1" style="vertical-align:bottom;width:1%;padding-bottom:4px;background-color:rgb(204, 238, 255);vertical-align:bottom;white-space:nowrap"> </td> <td colspan="1" style="vertical-align:bottom;width:1%;padding-bottom:4px;background-color:rgb(204, 238, 255);vertical-align:bottom"> </td> <td colspan="1" style="vertical-align:bottom;width:1%;border-bottom:4px double rgb(0, 0, 0);background-color:rgb(204, 238, 255);vertical-align:bottom"> <div style="line-height:1.25"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>$</span></span></span></span></div> </td> <td colspan="1" style="vertical-align:bottom;text-align:right;width:9%;border-bottom:4px double rgb(0, 0, 0);background-color:rgb(204, 238, 255);vertical-align:bottom"> <div style="line-height:1.25"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">13,224</span></span></div> </td> <td colspan="1" style="vertical-align:bottom;width:1%;padding-bottom:4px;background-color:rgb(204, 238, 255);vertical-align:bottom;white-space:nowrap"> </td> <td colspan="1" style="vertical-align:bottom;width:1%;padding-bottom:4px;background-color:rgb(204, 238, 255);vertical-align:bottom"> </td> <td colspan="1" style="vertical-align:bottom;width:1%;border-bottom:4px double rgb(0, 0, 0);background-color:rgb(204, 238, 255);vertical-align:bottom"> <div style="line-height:1.25"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>$</span></span></span></span></div> </td> <td colspan="1" style="vertical-align:bottom;text-align:right;width:9%;border-bottom:4px double rgb(0, 0, 0);background-color:rgb(204, 238, 255);vertical-align:bottom"> <div style="line-height:1.25"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">26,448</span></span></div> </td> <td colspan="1" style="vertical-align:bottom;width:1%;padding-bottom:4px;background-color:rgb(204, 238, 255);vertical-align:bottom;white-space:nowrap"> </td> <td colspan="1" style="vertical-align:bottom;width:1%;padding-bottom:4px;background-color:rgb(204, 238, 255);vertical-align:bottom"> </td> <td colspan="1" style="vertical-align:bottom;width:1%;border-bottom:4px double rgb(0, 0, 0);background-color:rgb(204, 238, 255);vertical-align:bottom"> <div style="line-height:1.25"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>$</span></span></span></span></div> </td> <td colspan="1" style="vertical-align:bottom;text-align:right;width:9%;border-bottom:4px double rgb(0, 0, 0);background-color:rgb(204, 238, 255);vertical-align:bottom"> <div style="line-height:1.25"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">26,448</span></span></div> </td> <td colspan="1" style="vertical-align:bottom;width:1%;padding-bottom:4px;background-color:rgb(204, 238, 255);vertical-align:bottom;white-space:nowrap"> </td> <td colspan="1" style="vertical-align:bottom;width:1%;padding-bottom:4px;background-color:rgb(204, 238, 255);vertical-align:bottom"> </td> <td colspan="1" style="vertical-align:bottom;width:1%;border-bottom:4px double rgb(0, 0, 0);background-color:rgb(204, 238, 255);vertical-align:bottom"> <div style="line-height:1.25"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>$</span></span></span></span></div> </td> <td colspan="1" style="vertical-align:bottom;text-align:right;width:9%;border-bottom:4px double rgb(0, 0, 0);background-color:rgb(204, 238, 255);vertical-align:bottom"> <div style="line-height:1.25"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">26,448</span></span></div> </td> <td colspan="1" style="vertical-align:bottom;width:1%;padding-bottom:4px;background-color:rgb(204, 238, 255);vertical-align:bottom;white-space:nowrap"> </td> <td colspan="1" style="vertical-align:bottom;width:1%;padding-bottom:4px;background-color:rgb(204, 238, 255);vertical-align:bottom"> </td> <td colspan="1" style="vertical-align:bottom;width:1%;border-bottom:4px double rgb(0, 0, 0);background-color:rgb(204, 238, 255);vertical-align:bottom"> <div style="line-height:1.25"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>$</span></span></span></span></div> </td> <td colspan="1" style="vertical-align:bottom;text-align:right;width:9%;border-bottom:4px double rgb(0, 0, 0);background-color:rgb(204, 238, 255);vertical-align:bottom"> <div style="line-height:1.25"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">92,568</span></span></div> </td> <td colspan="1" style="vertical-align:bottom;width:1%;padding-bottom:4px;background-color:rgb(204, 238, 255);vertical-align:bottom;white-space:nowrap"> </td> </tr> </table> </div> </div> <div style="line-height:1.25;clear:both"> </div> <div></div> <div style="line-height:1.25"> <div> <div style="line-height:1.25"> <table border="0" cellpadding="0" cellspacing="0" style="font-family:'Times New Roman', Times, serif;font-size:10pt;color:#000000;width:100%"> <tr> <td style="width:56pt"> <div> </div> </td> <td style="font-weight:bold;width:22pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>C.</span></span></span></span></td> <td style="font-weight:bold;width:auto"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span><span style="font-weight:bold">Long-term JPY Loans</span></span></span></span></span></td> </tr> </table> <div style="line-height:1.25"> <div> <div style="line-height:1.25"> <table border="0" cellpadding="0" cellspacing="0" style="font-family:'Times New Roman', Times, serif;font-size:10pt;color:#000000;width:100%"> <tr> <td style="width:56pt"> <div> </div> </td> <td style="font-weight:bold;width:22pt"> </td> <td style="font-weight:normal;width:auto"> <div style="text-align:justify;line-height:1.25"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>In December 2021, TPSCo refinanced its then existing loan with an 11 billion JPY (approximately $70,000 as of December 31, 2025) asset-based loan with a consortium of financial institutions consisting of (i) JA Mitsui Leasing, Ltd., (ii) Mitsubishi HC Capital Inc., (iii) Taishin International Bank Co., Ltd. Tokyo Branch, and (iv) BOT lease Co. Ltd. (“2021 JPY Loan”). The 2021 JPY Loan carried a fixed interest rate of 1.95% per annum with principal payable in seven semiannual payments from December 2024 until December 2027. The 2021 JPY Loan was secured mainly by a lien over the machinery and equipment of TPSCo located in the Uozu and Tonami facilities.</span></span></span></span></div> <div style="text-align:justify;line-height:1.25"> </div> <div style="text-align:justify;line-height:1.25"> <div style="line-height:1.25"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>In September 2023, TPSCo entered into a term loan agreement with JA Mitsui Leasing Ltd. for an additional 3.5 billion JPY (approximately $22,000 as of December 31, 2025) term loan (“2023 JPY Loan”). The 2023 JPY Loan carried a fixed interest rate of approximately 2% per annum with principal payable in seven semiannual payments from September 2024 until September 2027. The 2023 JPY Loan was secured by a second lien over the machinery and equipment of TPSCo located in the Uozu and Tonami facilities.</span></span></span></span></div> <div style="line-height:1.25"> </div> <div style="line-height:1.25"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>In December 2024, TPSCo signed an agreement with its lenders to refinance its 2021 JPY Loan and 2023 JPY Loan with a new 14.5 billion JPY (approximately $92,000 as of December 31, 2025) asset-based loan (“2024 JPY Loan”). 12.5 billion JPY were drawn in 2024 and used to repay 11.5 billion JPY of the 2021 JPY Loan and 2023 JPY Loan, resulting in outstanding JPY Loans of 15.5 billion JPY (approximately $100,000) as of December 31, 2024.  In accordance with this agreement, during the first half of 2025, 3 billion JPY were used to repay the remaining 2021 JPY Loan and 2023 JPY Loan and an additional amount of 2 billion JPY was withdrawn, resulting in outstanding JPY Loans of 14.5 billion JPY (approximately $92,000) as of December 31, 2025.  The lenders of the 2024 JPY Loan are a consortium of financial institutions consisting of (i) JA Mitsui Leasing, Ltd., (ii) Mitsubishi HC Capital Inc. and (iii) BOT lease Co. Ltd.. The 2024 JPY Loan carries a fixed interest rate of 2% per annum with principal payable in seven semiannual payments from December 2027 to December 2030. The 2024 JPY Loan is secured mainly by a lien over the machinery and equipment of TPSCo located in the Uozu and Tonami facilities.</span></span></span></span></div> <div style="line-height:1.25"> </div> <div style="line-height:1.25"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>The 2024 JPY Loan contains certain financial ratios and covenants, as well as customary definitions of events of default and acceleration of the repayment schedule. TPSCo’s obligations pursuant to the JPY Loan are not guaranteed by Tower, NTCJ, or any of their affiliates.</span></span></span></span></div> <div style="line-height:1.25"> </div> <div style="line-height:1.25"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>As of December 31, 2025, TPSCo maintained compliance with all of the financial covenants under the 2024 JPY Loan.</span></span></span></span></div> </div> </td> </tr> </table> </div> </div> </div> </div> </div> </div> <p style="margin-top:0pt;margin-bottom:0pt;font-family:Times New Roman,Times,serif;text-align:left;font-size:10pt"> </p> <div></div> <div style="line-height:1.25"> <div style="line-height:1.25"> <div> <div style="line-height:1.25"> <table border="0" cellpadding="0" cellspacing="0" style="font-family:'Times New Roman', Times, serif;font-size:10pt;color:#000000;width:100%"> <tr> <td style="width:56pt"> <div> </div> </td> <td style="font-weight:bold;width:22pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>D.</span></span></span></span></td> <td style="font-weight:bold;width:auto"> <div><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span><span style="font-weight:bold">Capital Lease Agreements and Other Long-term Liabilities</span></span></span></span></span></div> </td> </tr> </table> <div style="line-height:1.25"> <div> <div style="line-height:1.25"> <table border="0" cellpadding="0" cellspacing="0" style="font-family:'Times New Roman', Times, serif;font-size:10pt;color:#000000;width:100%"> <tr> <td style="width:56pt"> <div> </div> </td> <td style="font-weight:bold;width:22pt"> </td> <td style="font-weight:normal;width:auto"> <div> <div style="text-align:justify;line-height:1.25"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>Certain of the Company’s subsidiaries enter into capital lease agreements from time to time for certain machinery and equipment, usually for a period of four years, with an option to buy the machinery and equipment after a period of between three to four years from the start of the lease period. The lease agreements are denominated in JPY and contain annual interest rates of approximately 2%, and the assets under the lease agreements are pledged to the lender until the time at which the respective subsidiary acquires the assets. The obligations under the capital lease agreements are guaranteed by Tower, except for TPSCo’s obligations under its capital lease agreements.</span></span></span></span></div> <div style="line-height:1.25"> </div> <div style="text-align:justify;line-height:1.25"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>TPSCo leases its facility buildings in Japan from NTCJ under a long-term capital lease with a term through at least March 2032.</span></span></span></span></div> <div style="line-height:1.25"> </div> <div style="text-align:justify;line-height:1.25"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>As of December 31, 2025 and 2024, the Company’s total outstanding capital lease liabilities for fixed assets were $52,928 and $73,453, respectively, of which $25,043 and $24,785, respectively, were included under current maturities of long-term debt.</span></span></span></span></div> <div style="line-height:1.25"> </div> <div style="text-align:justify;line-height:1.25"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>The following presents the maturity of capital lease and other long-term liabilities as of December 31, 2025:</span></span></span></span></div> </div> </td> </tr> </table> </div> </div> </div> </div> </div> </div> </div> <p style="margin-top:0pt;margin-bottom:0pt;font-family:Times New Roman,Times,serif;text-align:left;font-size:10pt"> </p> <table border="0" cellpadding="0" cellspacing="0" style="width:60%;color:#000000;font-family:'Times New Roman', Times, serif;font-size:10pt;text-align:left;margin:auto"> <tr> <td style="vertical-align:top;border-bottom:2px solid rgb(0, 0, 0);vertical-align:bottom"> <div style="text-align:justify;line-height:1.25"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>Fiscal Year</span></span></span></span></div> </td> <td colspan="1" style="vertical-align:bottom;padding-bottom:2px;vertical-align:bottom"> </td> <td colspan="2" style="vertical-align:top;border-bottom:2px solid rgb(0, 0, 0);vertical-align:bottom"> <div style="text-align:center;line-height:1.25"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>Amount ($)</span></span></span></span></div> </td> <td colspan="1" style="vertical-align:bottom;padding-bottom:2px;vertical-align:bottom;white-space:nowrap"> </td> </tr> <tr> <td style="vertical-align:top;width:88%;background-color:rgb(204, 238, 255);vertical-align:bottom"> <div style="text-align:justify;line-height:1.25"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>2026</span></span></span></span></div> </td> <td colspan="1" style="vertical-align:bottom;width:1%;background-color:rgb(204, 238, 255);vertical-align:bottom"> </td> <td colspan="1" style="vertical-align:bottom;width:1%;background-color:rgb(204, 238, 255);vertical-align:bottom"> <div style="line-height:1.25"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>$</span></span></span></span></div> </td> <td colspan="1" style="vertical-align:bottom;text-align:right;width:9%;background-color:rgb(204, 238, 255);vertical-align:bottom"> <div style="line-height:1.25"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">25,838</span></span></div> </td> <td colspan="1" style="vertical-align:bottom;width:1%;background-color:rgb(204, 238, 255);vertical-align:bottom;white-space:nowrap"> </td> </tr> <tr> <td style="vertical-align:top;width:88%;vertical-align:bottom"> <div style="text-align:justify;line-height:1.25"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>2027</span></span></span></span></div> </td> <td colspan="1" style="vertical-align:bottom;width:1%;vertical-align:bottom"> </td> <td colspan="1" style="vertical-align:bottom;width:1%;vertical-align:bottom"> </td> <td colspan="1" style="vertical-align:bottom;text-align:right;width:9%;vertical-align:bottom"> <div style="line-height:1.25"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">8,245</span></span></div> </td> <td colspan="1" style="vertical-align:bottom;width:1%;vertical-align:bottom;white-space:nowrap"> </td> </tr> <tr> <td style="vertical-align:top;width:88%;background-color:rgb(204, 238, 255);vertical-align:bottom"> <div style="text-align:justify;line-height:1.25"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>2028</span></span></span></span></div> </td> <td colspan="1" style="vertical-align:bottom;width:1%;background-color:rgb(204, 238, 255);vertical-align:bottom"> </td> <td colspan="1" style="vertical-align:bottom;width:1%;background-color:rgb(204, 238, 255);vertical-align:bottom"> </td> <td colspan="1" style="vertical-align:bottom;text-align:right;width:9%;background-color:rgb(204, 238, 255);vertical-align:bottom"> <div style="line-height:1.25"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">6,112</span></span></div> </td> <td colspan="1" style="vertical-align:bottom;width:1%;background-color:rgb(204, 238, 255);vertical-align:bottom;white-space:nowrap"> </td> </tr> <tr> <td style="vertical-align:top;width:88%;vertical-align:bottom"> <div style="text-align:justify;line-height:1.25"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>2029</span></span></span></span></div> </td> <td colspan="1" style="vertical-align:bottom;width:1%;vertical-align:bottom"> </td> <td colspan="1" style="vertical-align:bottom;width:1%;vertical-align:bottom"> </td> <td colspan="1" style="vertical-align:bottom;text-align:right;width:9%;vertical-align:bottom"> <div style="line-height:1.25"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">5,495</span></span></div> </td> <td colspan="1" style="vertical-align:bottom;width:1%;vertical-align:bottom;white-space:nowrap"> </td> </tr> <tr> <td style="vertical-align:top;width:88%;background-color:rgb(204, 238, 255);vertical-align:bottom"> <div style="text-align:justify;line-height:1.25"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>2030</span></span></span></span></div> </td> <td colspan="1" style="vertical-align:bottom;width:1%;background-color:rgb(204, 238, 255);vertical-align:bottom"> </td> <td colspan="1" style="vertical-align:bottom;width:1%;background-color:rgb(204, 238, 255);vertical-align:bottom"> </td> <td colspan="1" style="vertical-align:bottom;text-align:right;width:9%;background-color:rgb(204, 238, 255);vertical-align:bottom"> <div style="line-height:1.25"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>4,118</span></span></span></span></div> </td> <td colspan="1" style="vertical-align:bottom;width:1%;background-color:rgb(204, 238, 255);vertical-align:bottom;white-space:nowrap"> </td> </tr> <tr> <td style="vertical-align:top;width:88%;vertical-align:bottom"> <div style="text-align:justify;line-height:1.25"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>2031 and on</span></span></span></span></div> </td> <td colspan="1" style="vertical-align:bottom;width:1%;vertical-align:bottom"> </td> <td colspan="1" style="vertical-align:bottom;width:1%;vertical-align:bottom"> </td> <td colspan="1" style="vertical-align:bottom;text-align:right;width:9%;vertical-align:bottom"> <div style="line-height:1.25"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>5,148</span></span></span></span></div> </td> <td colspan="1" style="vertical-align:bottom;width:1%;vertical-align:bottom;white-space:nowrap"> </td> </tr> <tr> <td style="vertical-align:top;width:88%;padding-bottom:2px;background-color:rgb(204, 238, 255);vertical-align:bottom"> <div style="text-align:justify;line-height:1.25"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>Total</span></span></span></span></div> </td> <td colspan="1" style="vertical-align:bottom;width:1%;padding-bottom:2px;background-color:rgb(204, 238, 255);vertical-align:bottom"> </td> <td colspan="1" style="vertical-align:bottom;width:1%;border-bottom:2px solid rgb(0, 0, 0);background-color:rgb(204, 238, 255);vertical-align:bottom"> </td> <td colspan="1" style="vertical-align:bottom;text-align:right;width:9%;border-bottom:2px solid rgb(0, 0, 0);background-color:rgb(204, 238, 255);vertical-align:bottom"> <div style="line-height:1.25"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">54,956</span></span></div> </td> <td colspan="1" style="vertical-align:bottom;width:1%;padding-bottom:2px;background-color:rgb(204, 238, 255);vertical-align:bottom;white-space:nowrap"> </td> </tr> <tr> <td style="vertical-align:top;width:88%;padding-bottom:2px;vertical-align:bottom"> <div style="text-align:justify;line-height:1.25"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>Less - imputed interest</span></span></span></span></div> </td> <td colspan="1" style="vertical-align:bottom;width:1%;padding-bottom:2px;vertical-align:bottom"> </td> <td colspan="1" style="vertical-align:bottom;width:1%;border-bottom:2px solid rgb(0, 0, 0);vertical-align:bottom"> </td> <td colspan="1" style="vertical-align:bottom;text-align:right;width:9%;border-bottom:2px solid rgb(0, 0, 0);vertical-align:bottom"> <div style="line-height:1.25"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">(2,028</span></span></div> </td> <td colspan="1" style="vertical-align:bottom;width:1%;padding-bottom:2px;vertical-align:bottom;white-space:nowrap"> <div style="line-height:1.25"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>)</span></span></span></span></div> </td> </tr> <tr> <td style="vertical-align:top;width:88%;padding-bottom:4px;background-color:rgb(204, 238, 255);vertical-align:bottom"> <div style="text-align:justify;line-height:1.25"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>Total</span></span></span></span></div> </td> <td colspan="1" style="vertical-align:bottom;width:1%;padding-bottom:4px;background-color:rgb(204, 238, 255);vertical-align:bottom"> </td> <td colspan="1" style="vertical-align:bottom;width:1%;border-bottom:4px double rgb(0, 0, 0);background-color:rgb(204, 238, 255);vertical-align:bottom"> <div style="line-height:1.25"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>$</span></span></span></span></div> </td> <td colspan="1" style="vertical-align:bottom;text-align:right;width:9%;border-bottom:4px double rgb(0, 0, 0);background-color:rgb(204, 238, 255);vertical-align:bottom"> <div style="line-height:1.25"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">52,928</span></span></div> </td> <td colspan="1" style="vertical-align:bottom;width:1%;padding-bottom:4px;background-color:rgb(204, 238, 255);vertical-align:bottom;white-space:nowrap"> </td> </tr> </table> <div style="line-height:1.25"> </div> <div></div> <div style="line-height:1.25"> <div style="line-height:1.25"> <div> <div style="line-height:1.25"> <table border="0" cellpadding="0" cellspacing="0" style="font-family:'Times New Roman', Times, serif;font-size:10pt;color:#000000;width:100%"> <tr> <td style="width:56pt"> <div> </div> </td> <td style="font-weight:bold;width:22pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>E.</span></span></span></span></td> <td style="font-weight:bold;width:auto"> <div><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span><span style="font-weight:bold">Operating Lease Agreements</span></span></span></span></span></div> </td> </tr> </table> <div style="line-height:1.25"> <div> <div style="line-height:1.25"> <table border="0" cellpadding="0" cellspacing="0" style="font-family:'Times New Roman', Times, serif;font-size:10pt;color:#000000;width:100%"> <tr> <td style="width:56pt"> <div> </div> </td> <td style="font-weight:bold;width:22pt"> </td> <td style="font-weight:normal;width:auto"> <div> <div style="text-align:justify;line-height:1.25"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>The Company entered into operating leases, primarily with regard to certain of its operating and other facilities. In 2025 TSNB entered into an operating lease agreement to extend its current building lease, see Note 12D.   Operating lease cost for the years ended December 31, 2025, 2024 and 2023 was $8,899, $4,592 and $4,807, respectively. During 2025, cash paid for operating lease liabilities was $110,582.</span></span></span></span></div> <div style="text-align:justify;line-height:1.25"> </div> <div style="text-align:justify;line-height:1.25"> <div style="line-height:1.25"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>The following presents the composition of operating leases in the balance sheets:</span></span></span></span></div> </div> </div> </td> </tr> </table> </div> </div> </div> </div> </div> </div> </div> <p style="margin-top:0pt;margin-bottom:0pt;font-family:Times New Roman,Times,serif;text-align:left;font-size:10pt"> </p> <div> <div style="margin-left:99pt"> <table border="0" cellpadding="0" cellspacing="0" style="width:85%;color:#000000;font-family:'Times New Roman', Times, serif;font-size:10pt;text-align:left"> <tr> <td style="vertical-align:bottom;border-bottom:2px solid rgb(0, 0, 0);width:37%"> <div style="line-height:1.25"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>Details</span></span></span></span></div> </td> <td colspan="1" style="vertical-align:bottom;width:1%;padding-bottom:2px"> </td> <td style="vertical-align:bottom;border-bottom:2px solid rgb(0, 0, 0);width:38%"> <div style="line-height:1.25"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>Presentation in the Consolidated Balance Sheets</span></span></span></span></div> </td> <td colspan="1" style="vertical-align:bottom;padding-bottom:2px;width:1%;vertical-align:bottom"> </td> <td colspan="2" style="vertical-align:middle;border-bottom:2px solid rgb(0, 0, 0);vertical-align:bottom"> <div style="text-align:center;line-height:1.25"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>December 31, 2025</span></span></span></span></div> </td> <td colspan="1" style="vertical-align:bottom;padding-bottom:2px;width:1%;vertical-align:bottom;white-space:nowrap"> </td> <td colspan="1" style="vertical-align:bottom;padding-bottom:2px;width:1%;vertical-align:bottom"> </td> <td colspan="2" style="vertical-align:middle;border-bottom:2px solid rgb(0, 0, 0);vertical-align:bottom"> <div style="text-align:center;line-height:1.25"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>December 31, 2024</span></span></span></span></div> </td> <td colspan="1" style="vertical-align:bottom;padding-bottom:2px;width:1%;vertical-align:bottom;white-space:nowrap"> </td> </tr> <tr> <td style="vertical-align:middle;width:37%;padding-bottom:4px;background-color:rgb(204, 238, 255);vertical-align:bottom"> <div style="text-align:justify;line-height:1.25"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>ROU - assets under operating leases</span></span></span></span></div> </td> <td colspan="1" style="vertical-align:middle;width:1%;padding-bottom:4px;background-color:rgb(204, 238, 255);vertical-align:bottom"> </td> <td style="vertical-align:middle;width:38%;padding-bottom:4px;background-color:rgb(204, 238, 255);vertical-align:bottom"> <div style="line-height:1.25"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span><span style="-sec-ix-hidden:Fxbrl_20240227102139632"><span>Other long-term assets, net</span></span></span></span></span></span></div> </td> <td colspan="1" style="vertical-align:bottom;width:1%;padding-bottom:4px;background-color:rgb(204, 238, 255);vertical-align:bottom"> </td> <td colspan="1" style="vertical-align:bottom;width:1%;border-bottom:4px double rgb(0, 0, 0);background-color:rgb(204, 238, 255);vertical-align:bottom"> <div style="line-height:1.25"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>$</span></span></span></span></div> </td> <td colspan="1" style="vertical-align:bottom;text-align:right;width:9%;border-bottom:4px double rgb(0, 0, 0);background-color:rgb(204, 238, 255);vertical-align:bottom"> <div style="line-height:1.25"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">117,704</span></span></div> </td> <td colspan="1" style="vertical-align:bottom;width:1%;padding-bottom:4px;background-color:rgb(204, 238, 255);vertical-align:bottom;white-space:nowrap"> </td> <td colspan="1" style="vertical-align:bottom;width:1%;padding-bottom:4px;background-color:rgb(204, 238, 255);vertical-align:bottom"> </td> <td colspan="1" style="vertical-align:bottom;width:1%;border-bottom:4px double rgb(0, 0, 0);background-color:rgb(204, 238, 255);vertical-align:bottom"> <div style="line-height:1.25"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>$</span></span></span></span></div> </td> <td colspan="1" style="vertical-align:bottom;text-align:right;width:9%;border-bottom:4px double rgb(0, 0, 0);background-color:rgb(204, 238, 255);vertical-align:bottom"> <div style="line-height:1.25"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">7,874</span></span></div> </td> <td colspan="1" style="vertical-align:bottom;width:1%;padding-bottom:4px;background-color:rgb(204, 238, 255);vertical-align:bottom;white-space:nowrap"> </td> </tr> <tr> <td style="vertical-align:middle;width:37%;vertical-align:bottom"> <div style="text-align:justify;line-height:1.25"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>Lease liabilities:</span></span></span></span></div> </td> <td colspan="1" style="vertical-align:middle;width:1%;vertical-align:bottom"> </td> <td style="vertical-align:middle;width:38%;vertical-align:bottom"> </td> <td colspan="1" style="vertical-align:bottom;width:1%;vertical-align:bottom"> </td> <td colspan="1" style="vertical-align:bottom;width:1%;vertical-align:bottom"> </td> <td colspan="1" style="vertical-align:bottom;text-align:right;width:9%;vertical-align:bottom"> </td> <td colspan="1" style="vertical-align:bottom;width:1%;vertical-align:bottom;white-space:nowrap"> </td> <td colspan="1" style="vertical-align:bottom;width:1%;vertical-align:bottom"> </td> <td colspan="1" style="vertical-align:bottom;width:1%;vertical-align:bottom"> </td> <td colspan="1" style="vertical-align:bottom;text-align:right;width:9%;vertical-align:bottom"> </td> <td colspan="1" style="vertical-align:bottom;width:1%;vertical-align:bottom;white-space:nowrap"> </td> </tr> <tr> <td style="vertical-align:middle;width:37%;background-color:rgb(204, 238, 255);vertical-align:bottom"> <div style="text-align:justify;line-height:1.25"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>Current operating lease liabilities</span></span></span></span></div> </td> <td colspan="1" style="vertical-align:middle;width:1%;background-color:rgb(204, 238, 255);vertical-align:bottom"> </td> <td style="vertical-align:middle;width:38%;background-color:rgb(204, 238, 255);vertical-align:bottom"> <div style="line-height:1.25"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span><span style="-sec-ix-hidden:Fxbrl_20240229205832423"><span>Current maturities of long-term debt</span></span></span></span></span></span></div> </td> <td colspan="1" style="vertical-align:bottom;width:1%;background-color:rgb(204, 238, 255);vertical-align:bottom"> </td> <td colspan="1" style="vertical-align:bottom;width:1%;background-color:rgb(204, 238, 255);vertical-align:bottom"> <div style="line-height:1.25"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>$</span></span></span></span></div> </td> <td colspan="1" style="vertical-align:bottom;text-align:right;width:9%;background-color:rgb(204, 238, 255);vertical-align:bottom"> <div style="line-height:1.25"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">3,069</span></span></div> </td> <td colspan="1" style="vertical-align:bottom;width:1%;background-color:rgb(204, 238, 255);vertical-align:bottom;white-space:nowrap"> </td> <td colspan="1" style="vertical-align:bottom;width:1%;background-color:rgb(204, 238, 255);vertical-align:bottom"> </td> <td colspan="1" style="vertical-align:bottom;width:1%;background-color:rgb(204, 238, 255);vertical-align:bottom"> <div style="line-height:1.25"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>$</span></span></span></span></div> </td> <td colspan="1" style="vertical-align:bottom;text-align:right;width:9%;background-color:rgb(204, 238, 255);vertical-align:bottom"> <div style="line-height:1.25"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">3,913</span></span></div> </td> <td colspan="1" style="vertical-align:bottom;width:1%;background-color:rgb(204, 238, 255);vertical-align:bottom;white-space:nowrap"> </td> </tr> <tr> <td style="vertical-align:middle;width:37%;padding-bottom:2px;vertical-align:bottom"> <div style="text-align:justify;line-height:1.25"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>Long-term operating lease liabilities</span></span></span></span></div> </td> <td colspan="1" style="vertical-align:middle;width:1%;padding-bottom:2px;vertical-align:bottom"> </td> <td style="vertical-align:middle;width:38%;padding-bottom:2px;vertical-align:bottom"> <div style="line-height:1.25"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span><span style="-sec-ix-hidden:Fxbrl_20240227102101706"><span>Long-term debt</span></span></span></span></span></span></div> </td> <td colspan="1" style="vertical-align:bottom;width:1%;padding-bottom:2px;vertical-align:bottom"> </td> <td colspan="1" style="vertical-align:bottom;width:1%;border-bottom:2px solid rgb(0, 0, 0);vertical-align:bottom"> </td> <td colspan="1" style="vertical-align:bottom;text-align:right;width:9%;border-bottom:2px solid rgb(0, 0, 0);vertical-align:bottom"> <div style="line-height:1.25"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">12,953</span></span></div> </td> <td colspan="1" style="vertical-align:bottom;width:1%;padding-bottom:2px;vertical-align:bottom;white-space:nowrap"> </td> <td colspan="1" style="vertical-align:bottom;width:1%;padding-bottom:2px;vertical-align:bottom"> </td> <td colspan="1" style="vertical-align:bottom;width:1%;border-bottom:2px solid rgb(0, 0, 0);vertical-align:bottom"> </td> <td colspan="1" style="vertical-align:bottom;text-align:right;width:9%;border-bottom:2px solid rgb(0, 0, 0);vertical-align:bottom"> <div style="line-height:1.25"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">3,961</span></span></div> </td> <td colspan="1" style="vertical-align:bottom;width:1%;padding-bottom:2px;vertical-align:bottom;white-space:nowrap"> </td> </tr> <tr> <td style="vertical-align:middle;width:37%;padding-bottom:4px;background-color:rgb(204, 238, 255);vertical-align:bottom"> <div style="text-align:justify;line-height:1.25"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>Total operating lease liabilities</span></span></span></span></div> </td> <td colspan="1" style="vertical-align:middle;width:1%;padding-bottom:4px;background-color:rgb(204, 238, 255);vertical-align:bottom"> </td> <td style="vertical-align:middle;width:38%;padding-bottom:4px;background-color:rgb(204, 238, 255);vertical-align:bottom"> </td> <td colspan="1" style="vertical-align:bottom;width:1%;padding-bottom:4px;background-color:rgb(204, 238, 255);vertical-align:bottom"> </td> <td colspan="1" style="vertical-align:bottom;width:1%;border-bottom:4px double rgb(0, 0, 0);background-color:rgb(204, 238, 255);vertical-align:bottom"> <div style="line-height:1.25"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>$</span></span></span></span></div> </td> <td colspan="1" style="vertical-align:bottom;text-align:right;width:9%;border-bottom:4px double rgb(0, 0, 0);background-color:rgb(204, 238, 255);vertical-align:bottom"> <div style="line-height:1.25"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">16,022</span></span></div> </td> <td colspan="1" style="vertical-align:bottom;width:1%;padding-bottom:4px;background-color:rgb(204, 238, 255);vertical-align:bottom;white-space:nowrap"> </td> <td colspan="1" style="vertical-align:bottom;width:1%;padding-bottom:4px;background-color:rgb(204, 238, 255);vertical-align:bottom"> </td> <td colspan="1" style="vertical-align:bottom;width:1%;border-bottom:4px double rgb(0, 0, 0);background-color:rgb(204, 238, 255);vertical-align:bottom"> <div style="line-height:1.25"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>$</span></span></span></span></div> </td> <td colspan="1" style="vertical-align:bottom;text-align:right;width:9%;border-bottom:4px double rgb(0, 0, 0);background-color:rgb(204, 238, 255);vertical-align:bottom"> <div style="line-height:1.25"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">7,874</span></span></div> </td> <td colspan="1" style="vertical-align:bottom;width:1%;padding-bottom:4px;background-color:rgb(204, 238, 255);vertical-align:bottom;white-space:nowrap"> </td> </tr> <tr> <td style="vertical-align:middle;width:37%;padding-bottom:4px;vertical-align:bottom"> <div style="line-height:1.25"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>Weighted average remaining lease term (years)</span></span></span></span></div> </td> <td colspan="1" style="vertical-align:middle;width:1%;padding-bottom:4px;vertical-align:bottom"> </td> <td style="vertical-align:top;width:38%;padding-bottom:4px;vertical-align:bottom"> </td> <td colspan="1" style="vertical-align:bottom;width:1%;padding-bottom:4px;vertical-align:bottom"> </td> <td colspan="1" style="vertical-align:bottom;width:1%;border-bottom:4px double rgb(0, 0, 0);vertical-align:bottom"> </td> <td colspan="1" style="vertical-align:bottom;text-align:right;width:9%;border-bottom:4px double rgb(0, 0, 0);vertical-align:bottom"> <div style="line-height:1.25"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">4.5</span></span></div> </td> <td colspan="1" style="vertical-align:bottom;width:1%;padding-bottom:4px;vertical-align:bottom;white-space:nowrap"> </td> <td colspan="1" style="vertical-align:bottom;width:1%;padding-bottom:4px;vertical-align:bottom"> </td> <td colspan="1" style="vertical-align:bottom;width:1%;border-bottom:4px double rgb(0, 0, 0);vertical-align:bottom"> </td> <td colspan="1" style="vertical-align:bottom;text-align:right;width:9%;border-bottom:4px double rgb(0, 0, 0);vertical-align:bottom"> <div style="line-height:1.25"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">2.6</span></span></div> </td> <td colspan="1" style="vertical-align:bottom;width:1%;padding-bottom:4px;vertical-align:bottom;white-space:nowrap"> </td> </tr> <tr> <td style="vertical-align:middle;width:37%;padding-bottom:2px;background-color:rgb(204, 238, 255);vertical-align:bottom"> <div style="text-align:justify;line-height:1.25"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>Weighted average discount rate</span></span></span></span></div> </td> <td colspan="1" style="vertical-align:middle;width:1%;padding-bottom:2px;background-color:rgb(204, 238, 255);vertical-align:bottom"> </td> <td style="vertical-align:top;width:38%;padding-bottom:2px;background-color:rgb(204, 238, 255);vertical-align:bottom"> </td> <td colspan="1" style="vertical-align:bottom;width:1%;padding-bottom:2px;background-color:rgb(204, 238, 255);vertical-align:bottom"> </td> <td colspan="1" style="vertical-align:bottom;width:1%;border-bottom:2px solid rgb(0, 0, 0);background-color:rgb(204, 238, 255);vertical-align:bottom"> </td> <td colspan="1" style="vertical-align:bottom;text-align:right;width:9%;border-bottom:2px solid rgb(0, 0, 0);background-color:rgb(204, 238, 255);vertical-align:bottom"> <div style="line-height:1.25"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">1.95</span></span></div> </td> <td colspan="1" style="vertical-align:bottom;width:1%;padding-bottom:2px;background-color:rgb(204, 238, 255);vertical-align:bottom;white-space:nowrap"> <div style="line-height:1.25"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>%</span></span></span></span></div> </td> <td colspan="1" style="vertical-align:bottom;width:1%;padding-bottom:2px;background-color:rgb(204, 238, 255);vertical-align:bottom"> </td> <td colspan="1" style="vertical-align:bottom;width:1%;border-bottom:2px solid rgb(0, 0, 0);background-color:rgb(204, 238, 255);vertical-align:bottom"> </td> <td colspan="1" style="vertical-align:bottom;text-align:right;width:9%;border-bottom:2px solid rgb(0, 0, 0);background-color:rgb(204, 238, 255);vertical-align:bottom"> <div style="line-height:1.25"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">1.95</span></span></div> </td> <td colspan="1" style="vertical-align:bottom;width:1%;padding-bottom:2px;background-color:rgb(204, 238, 255);vertical-align:bottom;white-space:nowrap"> <div style="line-height:1.25"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>%</span></span></span></span></div> </td> </tr> </table> </div> </div> <div style="line-height:1.25;clear:both"> </div> <div style="line-height:1.25"> <div style="line-height:1.25"> <div> <div style="line-height:1.25"> <table border="0" cellpadding="0" cellspacing="0" style="font-family:'Times New Roman', Times, serif;font-size:10pt;color:#000000;width:100%"> <tr> <td style="width:56pt"> <div> </div> </td> <td style="font-weight:bold;width:22pt"> </td> <td style="font-weight:normal;width:auto"> <div> <div style="text-align:justify;line-height:1.25"> <div style="line-height:1.25"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>The following presents the maturity presentation of operating lease liabilities as of December 31, 2025:</span></span></span></span></div> </div> </div> </td> </tr> </table> </div> </div> </div> </div> <p style="margin-top:0pt;margin-bottom:0pt;font-family:Times New Roman,Times,serif;text-align:left;font-size:10pt"> </p> <table border="0" cellpadding="0" cellspacing="0" style="width:60%;color:#000000;font-family:'Times New Roman', Times, serif;font-size:10pt;text-align:left;margin:auto"> <tr> <td style="vertical-align:bottom;border-bottom:2px solid rgb(0, 0, 0)"> <div style="line-height:1.25"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>Fiscal Year</span></span></span></span></div> </td> <td colspan="1" style="vertical-align:bottom;padding-bottom:2px;vertical-align:bottom"> </td> <td colspan="2" style="vertical-align:middle;border-bottom:2px solid rgb(0, 0, 0);vertical-align:bottom"> <div style="text-align:center;line-height:1.25"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>Amount ($)</span></span></span></span></div> </td> <td colspan="1" style="vertical-align:bottom;padding-bottom:2px;vertical-align:bottom;white-space:nowrap"> </td> </tr> <tr> <td style="vertical-align:middle;width:88%;background-color:rgb(204, 238, 255);vertical-align:bottom"> <div style="text-align:justify;line-height:1.25"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>2026</span></span></span></span></div> </td> <td colspan="1" style="vertical-align:bottom;width:1%;background-color:rgb(204, 238, 255);vertical-align:bottom"> </td> <td colspan="1" style="vertical-align:bottom;width:1%;background-color:rgb(204, 238, 255);vertical-align:bottom"> <div style="line-height:1.25"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>$</span></span></span></span></div> </td> <td colspan="1" style="vertical-align:bottom;text-align:right;width:9%;background-color:rgb(204, 238, 255);vertical-align:bottom"> <div style="line-height:1.25"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">3,330</span></span></div> </td> <td colspan="1" style="vertical-align:bottom;width:1%;background-color:rgb(204, 238, 255);vertical-align:bottom;white-space:nowrap"> </td> </tr> <tr> <td style="vertical-align:middle;width:88%;vertical-align:bottom"> <div style="text-align:justify;line-height:1.25"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>2027</span></span></span></span></div> </td> <td colspan="1" style="vertical-align:bottom;width:1%;vertical-align:bottom"> </td> <td colspan="1" style="vertical-align:bottom;width:1%;vertical-align:bottom"> </td> <td colspan="1" style="vertical-align:bottom;text-align:right;width:9%;vertical-align:bottom"> <div style="line-height:1.25"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">5,016</span></span></div> </td> <td colspan="1" style="vertical-align:bottom;width:1%;vertical-align:bottom;white-space:nowrap"> </td> </tr> <tr> <td style="vertical-align:middle;width:88%;background-color:rgb(204, 238, 255);vertical-align:bottom"> <div style="text-align:justify;line-height:1.25"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>2028</span></span></span></span></div> </td> <td colspan="1" style="vertical-align:bottom;width:1%;background-color:rgb(204, 238, 255);vertical-align:bottom"> </td> <td colspan="1" style="vertical-align:bottom;width:1%;background-color:rgb(204, 238, 255);vertical-align:bottom"> </td> <td colspan="1" style="vertical-align:bottom;text-align:right;width:9%;background-color:rgb(204, 238, 255);vertical-align:bottom"> <div style="line-height:1.25"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>5,007</span></span></span></span></div> </td> <td colspan="1" style="vertical-align:bottom;width:1%;background-color:rgb(204, 238, 255);vertical-align:bottom;white-space:nowrap"> </td> </tr> <tr> <td style="vertical-align:middle;width:88%;padding-bottom:2px;vertical-align:bottom"> <div style="text-align:justify;line-height:1.25"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>2029</span></span></span></span></div> </td> <td colspan="1" style="vertical-align:bottom;width:1%;padding-bottom:2px;vertical-align:bottom"> </td> <td colspan="1" style="vertical-align:bottom;width:1%;border-bottom:2px solid rgb(0, 0, 0);vertical-align:bottom"> </td> <td colspan="1" style="vertical-align:bottom;text-align:right;width:9%;border-bottom:2px solid rgb(0, 0, 0);vertical-align:bottom"> <div style="line-height:1.25"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>3,293</span></span></span></span></div> </td> <td colspan="1" style="vertical-align:bottom;width:1%;padding-bottom:2px;vertical-align:bottom;white-space:nowrap"> </td> </tr> <tr> <td style="vertical-align:middle;width:88%;background-color:rgb(204, 238, 255);vertical-align:bottom"> <div style="text-align:justify;line-height:1.25"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>Total</span></span></span></span></div> </td> <td colspan="1" style="vertical-align:bottom;width:1%;background-color:rgb(204, 238, 255);vertical-align:bottom"> </td> <td colspan="1" style="vertical-align:bottom;width:1%;background-color:rgb(204, 238, 255);vertical-align:bottom"> </td> <td colspan="1" style="vertical-align:bottom;text-align:right;width:9%;background-color:rgb(204, 238, 255);vertical-align:bottom"> <div style="line-height:1.25"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">16,646</span></span></div> </td> <td colspan="1" style="vertical-align:bottom;width:1%;background-color:rgb(204, 238, 255);vertical-align:bottom;white-space:nowrap"> </td> </tr> <tr> <td style="vertical-align:middle;width:88%;padding-bottom:2px;vertical-align:bottom"> <div style="text-align:justify;line-height:1.25"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>Less - imputed interest</span></span></span></span></div> </td> <td colspan="1" style="vertical-align:bottom;width:1%;padding-bottom:2px;vertical-align:bottom"> </td> <td colspan="1" style="vertical-align:bottom;width:1%;border-bottom:2px solid rgb(0, 0, 0);vertical-align:bottom"> </td> <td colspan="1" style="vertical-align:bottom;text-align:right;width:9%;border-bottom:2px solid rgb(0, 0, 0);vertical-align:bottom"> <div style="line-height:1.25"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">(624</span></span></div> </td> <td colspan="1" style="vertical-align:bottom;width:1%;padding-bottom:2px;vertical-align:bottom;white-space:nowrap"> <div style="line-height:1.25"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>)</span></span></span></span></div> </td> </tr> <tr> <td style="vertical-align:middle;width:88%;padding-bottom:4px;background-color:rgb(204, 238, 255);vertical-align:bottom"> <div style="text-align:justify;line-height:1.25"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>Total</span></span></span></span></div> </td> <td colspan="1" style="vertical-align:bottom;width:1%;padding-bottom:4px;background-color:rgb(204, 238, 255);vertical-align:bottom"> </td> <td colspan="1" style="vertical-align:bottom;width:1%;border-bottom:4px double rgb(0, 0, 0);background-color:rgb(204, 238, 255);vertical-align:bottom"> <div style="line-height:1.25"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>$</span></span></span></span></div> </td> <td colspan="1" style="vertical-align:bottom;text-align:right;width:9%;border-bottom:4px double rgb(0, 0, 0);background-color:rgb(204, 238, 255);vertical-align:bottom"> <div style="line-height:1.25"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">16,022</span></span></div> </td> <td colspan="1" style="vertical-align:bottom;width:1%;padding-bottom:4px;background-color:rgb(204, 238, 255);vertical-align:bottom;white-space:nowrap"> </td> </tr> </table> </div> </div> <table border="0" cellpadding="0" cellspacing="0" style="width:85%;color:#000000;font-family:'Times New Roman', Times, serif;font-size:10pt;text-align:left"> <tr> <td style="vertical-align:middle;padding-bottom:2px;vertical-align:bottom"> <div style="text-align:justify;line-height:1.25"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>Details</span></span></span></span></div> </td> <td colspan="1" style="vertical-align:bottom;padding-bottom:2px;vertical-align:bottom"> </td> <td colspan="2" style="vertical-align:bottom;border-bottom:2px solid rgb(0, 0, 0);text-align:center"> <div style="line-height:1.25"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>2025</span></span></span></span></div> </td> <td colspan="1" style="text-align:center;vertical-align:bottom;padding-bottom:2px;white-space:nowrap"> </td> <td colspan="1" style="vertical-align:bottom;padding-bottom:2px;text-align:center"> </td> <td colspan="2" style="vertical-align:bottom;border-bottom:2px solid rgb(0, 0, 0);text-align:center"> <div style="line-height:1.25"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>2024</span></span></span></span></div> </td> <td colspan="1" style="vertical-align:bottom;padding-bottom:2px;vertical-align:bottom;white-space:nowrap"> </td> </tr> <tr> <td style="vertical-align:top;width:76%;background-color:rgb(204, 238, 255);vertical-align:bottom"> <div style="text-align:justify;line-height:1.25"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>JPY loans - principal amount - see Notes 9B and 9C below</span></span></span></span></div> </td> <td colspan="1" style="vertical-align:bottom;width:1%;background-color:rgb(204, 238, 255);vertical-align:bottom"> </td> <td colspan="1" style="vertical-align:bottom;width:1%;background-color:rgb(204, 238, 255);vertical-align:bottom"> <div style="line-height:1.25"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>$</span></span></span></span></div> </td> <td colspan="1" style="vertical-align:bottom;text-align:right;width:9%;background-color:rgb(204, 238, 255);vertical-align:bottom"> <div style="line-height:1.25"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">92,568</span></span></div> </td> <td colspan="1" style="vertical-align:bottom;width:1%;background-color:rgb(204, 238, 255);vertical-align:bottom;white-space:nowrap"> </td> <td colspan="1" style="vertical-align:bottom;width:1%;background-color:rgb(204, 238, 255);vertical-align:bottom"> </td> <td colspan="1" style="vertical-align:bottom;width:1%;background-color:rgb(204, 238, 255);vertical-align:bottom"> <div style="line-height:1.25"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>$</span></span></span></span></div> </td> <td colspan="1" style="vertical-align:bottom;text-align:right;width:9%;background-color:rgb(204, 238, 255);vertical-align:bottom"> <div style="line-height:1.25"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">98,962</span></span></div> </td> <td colspan="1" style="vertical-align:bottom;width:1%;background-color:rgb(204, 238, 255);vertical-align:bottom;white-space:nowrap"> </td> </tr> <tr> <td style="vertical-align:top;width:76%;vertical-align:bottom"> <div style="text-align:justify;line-height:1.25"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span><span style="-sec-ix-hidden:Fxbrl_20260224110048599"><span style="-sec-ix-hidden:Fxbrl_20240229205751255">Capital leases and other long-term liabilities - see Note 9D below</span></span></span></span></span></span></div> </td> <td colspan="1" style="vertical-align:bottom;width:1%;vertical-align:bottom"> </td> <td colspan="1" style="vertical-align:bottom;width:1%;vertical-align:bottom"> </td> <td colspan="1" style="vertical-align:bottom;text-align:right;width:9%;vertical-align:bottom"> <div style="line-height:1.25"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">52,928</span></span></div> </td> <td colspan="1" style="vertical-align:bottom;width:1%;vertical-align:bottom;white-space:nowrap"> </td> <td colspan="1" style="vertical-align:bottom;width:1%;vertical-align:bottom"> </td> <td colspan="1" style="vertical-align:bottom;width:1%;vertical-align:bottom"> </td> <td colspan="1" style="vertical-align:bottom;text-align:right;width:9%;vertical-align:bottom"> <div style="line-height:1.25"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">73,977</span></span></div> </td> <td colspan="1" style="vertical-align:bottom;width:1%;vertical-align:bottom;white-space:nowrap"> </td> </tr> <tr> <td style="vertical-align:bottom;width:76%;background-color:rgb(204, 238, 255);vertical-align:bottom"> <div style="text-align:justify;line-height:1.25"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>Operating leases - see Note 9E below</span></span></span></span></div> </td> <td colspan="1" style="vertical-align:bottom;width:1%;background-color:rgb(204, 238, 255);vertical-align:bottom"> </td> <td colspan="1" style="vertical-align:bottom;width:1%;background-color:rgb(204, 238, 255);vertical-align:bottom"> </td> <td colspan="1" style="vertical-align:bottom;text-align:right;width:9%;background-color:rgb(204, 238, 255);vertical-align:bottom"> <div style="line-height:1.25"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">16,022</span></span></div> </td> <td colspan="1" style="vertical-align:bottom;width:1%;background-color:rgb(204, 238, 255);vertical-align:bottom;white-space:nowrap"> </td> <td colspan="1" style="vertical-align:bottom;width:1%;background-color:rgb(204, 238, 255);vertical-align:bottom"> </td> <td colspan="1" style="vertical-align:bottom;width:1%;background-color:rgb(204, 238, 255);vertical-align:bottom"> </td> <td colspan="1" style="vertical-align:bottom;text-align:right;width:9%;background-color:rgb(204, 238, 255);vertical-align:bottom"> <div style="line-height:1.25"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">7,874</span></span></div> </td> <td colspan="1" style="vertical-align:bottom;width:1%;background-color:rgb(204, 238, 255);vertical-align:bottom;white-space:nowrap"> </td> </tr> <tr> <td style="vertical-align:bottom;width:76%;padding-bottom:2px;vertical-align:bottom"> <div style="text-align:justify;line-height:1.25"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>Less - current maturities</span></span></span></span></div> </td> <td colspan="1" style="vertical-align:bottom;width:1%;padding-bottom:2px;vertical-align:bottom"> </td> <td colspan="1" style="vertical-align:bottom;width:1%;border-bottom:2px solid rgb(0, 0, 0);vertical-align:bottom"> </td> <td colspan="1" style="vertical-align:bottom;text-align:right;width:9%;border-bottom:2px solid rgb(0, 0, 0);vertical-align:bottom"> <div style="line-height:1.25"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">(28,112</span></span></div> </td> <td colspan="1" style="vertical-align:bottom;width:1%;padding-bottom:2px;vertical-align:bottom;white-space:nowrap"> <div style="line-height:1.25"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>)</span></span></span></span></div> </td> <td colspan="1" style="vertical-align:bottom;width:1%;padding-bottom:2px;vertical-align:bottom"> </td> <td colspan="1" style="vertical-align:bottom;width:1%;border-bottom:2px solid rgb(0, 0, 0);vertical-align:bottom"> </td> <td colspan="1" style="vertical-align:bottom;text-align:right;width:9%;border-bottom:2px solid rgb(0, 0, 0);vertical-align:bottom"> <div style="line-height:1.25"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">(48,376</span></span></div> </td> <td colspan="1" style="vertical-align:bottom;width:1%;padding-bottom:2px;vertical-align:bottom;white-space:nowrap"> <div style="line-height:1.25"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>)</span></span></span></span></div> </td> </tr> <tr> <td style="vertical-align:middle;width:76%;padding-bottom:4px;background-color:rgb(204, 238, 255);vertical-align:bottom"> </td> <td colspan="1" style="vertical-align:bottom;width:1%;padding-bottom:4px;background-color:rgb(204, 238, 255);vertical-align:bottom"> </td> <td colspan="1" style="vertical-align:bottom;width:1%;border-bottom:4px double rgb(0, 0, 0);background-color:rgb(204, 238, 255);vertical-align:bottom"> <div style="line-height:1.25"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>$</span></span></span></span></div> </td> <td colspan="1" style="vertical-align:bottom;text-align:right;width:9%;border-bottom:4px double rgb(0, 0, 0);background-color:rgb(204, 238, 255);vertical-align:bottom"> <div style="line-height:1.25"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">133,406</span></span></div> </td> <td colspan="1" style="vertical-align:bottom;width:1%;padding-bottom:4px;background-color:rgb(204, 238, 255);vertical-align:bottom;white-space:nowrap"> </td> <td colspan="1" style="vertical-align:bottom;width:1%;padding-bottom:4px;background-color:rgb(204, 238, 255);vertical-align:bottom"> </td> <td colspan="1" style="vertical-align:bottom;width:1%;border-bottom:4px double rgb(0, 0, 0);background-color:rgb(204, 238, 255);vertical-align:bottom"> <div style="line-height:1.25"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>$</span></span></span></span></div> </td> <td colspan="1" style="vertical-align:bottom;text-align:right;width:9%;border-bottom:4px double rgb(0, 0, 0);background-color:rgb(204, 238, 255);vertical-align:bottom"> <div style="line-height:1.25"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">132,437</span></span></div> </td> <td colspan="1" style="vertical-align:bottom;width:1%;padding-bottom:4px;background-color:rgb(204, 238, 255);vertical-align:bottom;white-space:nowrap"> </td> </tr> </table> 92568000 98962000 52928000 73977000 16022000 7874000 28112000 48376000 133406000 132437000 <div> <div style="margin-left:99pt"> <table border="0" cellpadding="0" cellspacing="0" style="width:85%;color:#000000;font-family:'Times New Roman', Times, serif;font-size:10pt;text-align:left"> <tr> <td style="vertical-align:bottom;border-bottom:2px solid rgb(0, 0, 0);text-align:center"> <div style="line-height:1.25"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>Details</span></span></span></span></div> </td> <td colspan="1" style="vertical-align:bottom;padding-bottom:2px;vertical-align:bottom"> </td> <td colspan="2" style="vertical-align:bottom;border-bottom:2px solid rgb(0, 0, 0);text-align:center"> <div style="line-height:1.25"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>Interest</span></span></span></span></div> <div style="line-height:1.25"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>Rate</span></span></span></span></div> </td> <td colspan="1" style="text-align:center;vertical-align:bottom;padding-bottom:2px;white-space:nowrap"> </td> <td colspan="1" style="vertical-align:bottom;padding-bottom:2px;text-align:center"> </td> <td colspan="2" style="vertical-align:bottom;border-bottom:2px solid rgb(0, 0, 0);text-align:center"> <div style="line-height:1.25"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>2026</span></span></span></span></div> </td> <td colspan="1" style="text-align:center;vertical-align:bottom;padding-bottom:2px;white-space:nowrap"> </td> <td colspan="1" style="vertical-align:bottom;padding-bottom:2px;text-align:center"> </td> <td colspan="2" style="vertical-align:bottom;border-bottom:2px solid rgb(0, 0, 0);text-align:center"> <div style="line-height:1.25"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>2027</span></span></span></span></div> </td> <td colspan="1" style="text-align:center;vertical-align:bottom;padding-bottom:2px;white-space:nowrap"> </td> <td colspan="1" style="vertical-align:bottom;padding-bottom:2px;text-align:center"> </td> <td colspan="2" style="vertical-align:bottom;border-bottom:2px solid rgb(0, 0, 0);text-align:center"> <div style="line-height:1.25"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>2028</span></span></span></span></div> </td> <td colspan="1" style="text-align:center;vertical-align:bottom;padding-bottom:2px;white-space:nowrap"> </td> <td colspan="1" style="vertical-align:bottom;padding-bottom:2px;text-align:center"> </td> <td colspan="2" style="vertical-align:bottom;border-bottom:2px solid rgb(0, 0, 0);text-align:center"> <div style="line-height:1.25"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>2029</span></span></span></span></div> </td> <td colspan="1" style="text-align:center;vertical-align:bottom;padding-bottom:2px;white-space:nowrap"> </td> <td colspan="1" style="vertical-align:bottom;padding-bottom:2px;text-align:center"> </td> <td colspan="2" style="vertical-align:bottom;border-bottom:2px solid rgb(0, 0, 0);text-align:center"> <div style="line-height:1.25"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>2030</span></span></span></span></div> </td> <td colspan="1" style="text-align:center;vertical-align:bottom;padding-bottom:2px;white-space:nowrap"> </td> <td colspan="1" style="vertical-align:bottom;padding-bottom:2px;text-align:center"> </td> <td colspan="2" style="vertical-align:bottom;border-bottom:2px solid rgb(0, 0, 0);text-align:center"> <div style="line-height:1.25"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>Total</span></span></span></span></div> </td> <td colspan="1" style="vertical-align:bottom;padding-bottom:2px;vertical-align:bottom;white-space:nowrap"> </td> </tr> <tr> <td style="vertical-align:top;width:16%;padding-bottom:4px;background-color:rgb(204, 238, 255);vertical-align:bottom"> <div style="text-align:justify;line-height:1.25"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>Long-term JPY loans</span></span></span></span></div> </td> <td colspan="1" style="vertical-align:bottom;width:1%;padding-bottom:4px;background-color:rgb(204, 238, 255);vertical-align:bottom"> </td> <td colspan="1" style="vertical-align:bottom;width:1%;background-color:rgb(204, 238, 255);padding-bottom:4px;vertical-align:bottom"> </td> <td colspan="1" style="vertical-align:bottom;text-align:right;width:9%;background-color:rgb(204, 238, 255);padding-bottom:4px;vertical-align:bottom"> <div style="line-height:1.25"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">2.0</span></span></div> </td> <td colspan="1" style="vertical-align:bottom;width:1%;padding-bottom:4px;background-color:rgb(204, 238, 255);vertical-align:bottom;white-space:nowrap"> </td> <td colspan="1" style="vertical-align:bottom;width:1%;padding-bottom:4px;background-color:rgb(204, 238, 255);vertical-align:bottom"> </td> <td colspan="1" style="vertical-align:bottom;width:1%;border-bottom:4px double rgb(0, 0, 0);background-color:rgb(204, 238, 255);vertical-align:bottom"> <div style="line-height:1.25"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>$</span></span></span></span></div> </td> <td colspan="1" style="vertical-align:bottom;text-align:right;width:9%;border-bottom:4px double rgb(0, 0, 0);background-color:rgb(204, 238, 255);vertical-align:bottom"> <div style="line-height:1.25"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">-</span></span></div> </td> <td colspan="1" style="vertical-align:bottom;width:1%;padding-bottom:4px;background-color:rgb(204, 238, 255);vertical-align:bottom;white-space:nowrap"> </td> <td colspan="1" style="vertical-align:bottom;width:1%;padding-bottom:4px;background-color:rgb(204, 238, 255);vertical-align:bottom"> </td> <td colspan="1" style="vertical-align:bottom;width:1%;border-bottom:4px double rgb(0, 0, 0);background-color:rgb(204, 238, 255);vertical-align:bottom"> <div style="line-height:1.25"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>$</span></span></span></span></div> </td> <td colspan="1" style="vertical-align:bottom;text-align:right;width:9%;border-bottom:4px double rgb(0, 0, 0);background-color:rgb(204, 238, 255);vertical-align:bottom"> <div style="line-height:1.25"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">13,224</span></span></div> </td> <td colspan="1" style="vertical-align:bottom;width:1%;padding-bottom:4px;background-color:rgb(204, 238, 255);vertical-align:bottom;white-space:nowrap"> </td> <td colspan="1" style="vertical-align:bottom;width:1%;padding-bottom:4px;background-color:rgb(204, 238, 255);vertical-align:bottom"> </td> <td colspan="1" style="vertical-align:bottom;width:1%;border-bottom:4px double rgb(0, 0, 0);background-color:rgb(204, 238, 255);vertical-align:bottom"> <div style="line-height:1.25"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>$</span></span></span></span></div> </td> <td colspan="1" style="vertical-align:bottom;text-align:right;width:9%;border-bottom:4px double rgb(0, 0, 0);background-color:rgb(204, 238, 255);vertical-align:bottom"> <div style="line-height:1.25"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">26,448</span></span></div> </td> <td colspan="1" style="vertical-align:bottom;width:1%;padding-bottom:4px;background-color:rgb(204, 238, 255);vertical-align:bottom;white-space:nowrap"> </td> <td colspan="1" style="vertical-align:bottom;width:1%;padding-bottom:4px;background-color:rgb(204, 238, 255);vertical-align:bottom"> </td> <td colspan="1" style="vertical-align:bottom;width:1%;border-bottom:4px double rgb(0, 0, 0);background-color:rgb(204, 238, 255);vertical-align:bottom"> <div style="line-height:1.25"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>$</span></span></span></span></div> </td> <td colspan="1" style="vertical-align:bottom;text-align:right;width:9%;border-bottom:4px double rgb(0, 0, 0);background-color:rgb(204, 238, 255);vertical-align:bottom"> <div style="line-height:1.25"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">26,448</span></span></div> </td> <td colspan="1" style="vertical-align:bottom;width:1%;padding-bottom:4px;background-color:rgb(204, 238, 255);vertical-align:bottom;white-space:nowrap"> </td> <td colspan="1" style="vertical-align:bottom;width:1%;padding-bottom:4px;background-color:rgb(204, 238, 255);vertical-align:bottom"> </td> <td colspan="1" style="vertical-align:bottom;width:1%;border-bottom:4px double rgb(0, 0, 0);background-color:rgb(204, 238, 255);vertical-align:bottom"> <div style="line-height:1.25"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>$</span></span></span></span></div> </td> <td colspan="1" style="vertical-align:bottom;text-align:right;width:9%;border-bottom:4px double rgb(0, 0, 0);background-color:rgb(204, 238, 255);vertical-align:bottom"> <div style="line-height:1.25"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">26,448</span></span></div> </td> <td colspan="1" style="vertical-align:bottom;width:1%;padding-bottom:4px;background-color:rgb(204, 238, 255);vertical-align:bottom;white-space:nowrap"> </td> <td colspan="1" style="vertical-align:bottom;width:1%;padding-bottom:4px;background-color:rgb(204, 238, 255);vertical-align:bottom"> </td> <td colspan="1" style="vertical-align:bottom;width:1%;border-bottom:4px double rgb(0, 0, 0);background-color:rgb(204, 238, 255);vertical-align:bottom"> <div style="line-height:1.25"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>$</span></span></span></span></div> </td> <td colspan="1" style="vertical-align:bottom;text-align:right;width:9%;border-bottom:4px double rgb(0, 0, 0);background-color:rgb(204, 238, 255);vertical-align:bottom"> <div style="line-height:1.25"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">92,568</span></span></div> </td> <td colspan="1" style="vertical-align:bottom;width:1%;padding-bottom:4px;background-color:rgb(204, 238, 255);vertical-align:bottom;white-space:nowrap"> </td> </tr> </table> </div> </div> 2.0 0 13224000 26448000 26448000 26448000 92568000 11000000000 70000000 0.0195 principal payable in seven semiannual payments from December 2024 until December 2027. The 2021 JPY Loan was secured mainly by a lien over the machinery and equipment of TPSCo located in the Uozu and Tonami facilities. 3500000000 22000000 0.02 payable in seven semiannual payments from September 2024 until September 2027. The 2023 JPY Loan was secured by a second lien over the machinery and equipment of TPSCo located in the Uozu and Tonami facilities. 14500000000 92000000 12500000000 11500000000 15500000000 100000000 3000000000 2000000000 14500000000 92000000 0.02 principal payable in seven semiannual payments from December 2027 to December 2030. The 2024 JPY Loan is secured mainly by a lien over the machinery and equipment of TPSCo located in the Uozu and Tonami facilities. 0.02 52928000 73453000 25043000 24785000 <table border="0" cellpadding="0" cellspacing="0" style="width:60%;color:#000000;font-family:'Times New Roman', Times, serif;font-size:10pt;text-align:left;margin:auto"> <tr> <td style="vertical-align:top;border-bottom:2px solid rgb(0, 0, 0);vertical-align:bottom"> <div style="text-align:justify;line-height:1.25"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>Fiscal Year</span></span></span></span></div> </td> <td colspan="1" style="vertical-align:bottom;padding-bottom:2px;vertical-align:bottom"> </td> <td colspan="2" style="vertical-align:top;border-bottom:2px solid rgb(0, 0, 0);vertical-align:bottom"> <div style="text-align:center;line-height:1.25"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>Amount ($)</span></span></span></span></div> </td> <td colspan="1" style="vertical-align:bottom;padding-bottom:2px;vertical-align:bottom;white-space:nowrap"> </td> </tr> <tr> <td style="vertical-align:top;width:88%;background-color:rgb(204, 238, 255);vertical-align:bottom"> <div style="text-align:justify;line-height:1.25"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>2026</span></span></span></span></div> </td> <td colspan="1" style="vertical-align:bottom;width:1%;background-color:rgb(204, 238, 255);vertical-align:bottom"> </td> <td colspan="1" style="vertical-align:bottom;width:1%;background-color:rgb(204, 238, 255);vertical-align:bottom"> <div style="line-height:1.25"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>$</span></span></span></span></div> </td> <td colspan="1" style="vertical-align:bottom;text-align:right;width:9%;background-color:rgb(204, 238, 255);vertical-align:bottom"> <div style="line-height:1.25"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">25,838</span></span></div> </td> <td colspan="1" style="vertical-align:bottom;width:1%;background-color:rgb(204, 238, 255);vertical-align:bottom;white-space:nowrap"> </td> </tr> <tr> <td style="vertical-align:top;width:88%;vertical-align:bottom"> <div style="text-align:justify;line-height:1.25"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>2027</span></span></span></span></div> </td> <td colspan="1" style="vertical-align:bottom;width:1%;vertical-align:bottom"> </td> <td colspan="1" style="vertical-align:bottom;width:1%;vertical-align:bottom"> </td> <td colspan="1" style="vertical-align:bottom;text-align:right;width:9%;vertical-align:bottom"> <div style="line-height:1.25"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">8,245</span></span></div> </td> <td colspan="1" style="vertical-align:bottom;width:1%;vertical-align:bottom;white-space:nowrap"> </td> </tr> <tr> <td style="vertical-align:top;width:88%;background-color:rgb(204, 238, 255);vertical-align:bottom"> <div style="text-align:justify;line-height:1.25"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>2028</span></span></span></span></div> </td> <td colspan="1" style="vertical-align:bottom;width:1%;background-color:rgb(204, 238, 255);vertical-align:bottom"> </td> <td colspan="1" style="vertical-align:bottom;width:1%;background-color:rgb(204, 238, 255);vertical-align:bottom"> </td> <td colspan="1" style="vertical-align:bottom;text-align:right;width:9%;background-color:rgb(204, 238, 255);vertical-align:bottom"> <div style="line-height:1.25"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">6,112</span></span></div> </td> <td colspan="1" style="vertical-align:bottom;width:1%;background-color:rgb(204, 238, 255);vertical-align:bottom;white-space:nowrap"> </td> </tr> <tr> <td style="vertical-align:top;width:88%;vertical-align:bottom"> <div style="text-align:justify;line-height:1.25"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>2029</span></span></span></span></div> </td> <td colspan="1" style="vertical-align:bottom;width:1%;vertical-align:bottom"> </td> <td colspan="1" style="vertical-align:bottom;width:1%;vertical-align:bottom"> </td> <td colspan="1" style="vertical-align:bottom;text-align:right;width:9%;vertical-align:bottom"> <div style="line-height:1.25"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">5,495</span></span></div> </td> <td colspan="1" style="vertical-align:bottom;width:1%;vertical-align:bottom;white-space:nowrap"> </td> </tr> <tr> <td style="vertical-align:top;width:88%;background-color:rgb(204, 238, 255);vertical-align:bottom"> <div style="text-align:justify;line-height:1.25"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>2030</span></span></span></span></div> </td> <td colspan="1" style="vertical-align:bottom;width:1%;background-color:rgb(204, 238, 255);vertical-align:bottom"> </td> <td colspan="1" style="vertical-align:bottom;width:1%;background-color:rgb(204, 238, 255);vertical-align:bottom"> </td> <td colspan="1" style="vertical-align:bottom;text-align:right;width:9%;background-color:rgb(204, 238, 255);vertical-align:bottom"> <div style="line-height:1.25"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>4,118</span></span></span></span></div> </td> <td colspan="1" style="vertical-align:bottom;width:1%;background-color:rgb(204, 238, 255);vertical-align:bottom;white-space:nowrap"> </td> </tr> <tr> <td style="vertical-align:top;width:88%;vertical-align:bottom"> <div style="text-align:justify;line-height:1.25"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>2031 and on</span></span></span></span></div> </td> <td colspan="1" style="vertical-align:bottom;width:1%;vertical-align:bottom"> </td> <td colspan="1" style="vertical-align:bottom;width:1%;vertical-align:bottom"> </td> <td colspan="1" style="vertical-align:bottom;text-align:right;width:9%;vertical-align:bottom"> <div style="line-height:1.25"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>5,148</span></span></span></span></div> </td> <td colspan="1" style="vertical-align:bottom;width:1%;vertical-align:bottom;white-space:nowrap"> </td> </tr> <tr> <td style="vertical-align:top;width:88%;padding-bottom:2px;background-color:rgb(204, 238, 255);vertical-align:bottom"> <div style="text-align:justify;line-height:1.25"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>Total</span></span></span></span></div> </td> <td colspan="1" style="vertical-align:bottom;width:1%;padding-bottom:2px;background-color:rgb(204, 238, 255);vertical-align:bottom"> </td> <td colspan="1" style="vertical-align:bottom;width:1%;border-bottom:2px solid rgb(0, 0, 0);background-color:rgb(204, 238, 255);vertical-align:bottom"> </td> <td colspan="1" style="vertical-align:bottom;text-align:right;width:9%;border-bottom:2px solid rgb(0, 0, 0);background-color:rgb(204, 238, 255);vertical-align:bottom"> <div style="line-height:1.25"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">54,956</span></span></div> </td> <td colspan="1" style="vertical-align:bottom;width:1%;padding-bottom:2px;background-color:rgb(204, 238, 255);vertical-align:bottom;white-space:nowrap"> </td> </tr> <tr> <td style="vertical-align:top;width:88%;padding-bottom:2px;vertical-align:bottom"> <div style="text-align:justify;line-height:1.25"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>Less - imputed interest</span></span></span></span></div> </td> <td colspan="1" style="vertical-align:bottom;width:1%;padding-bottom:2px;vertical-align:bottom"> </td> <td colspan="1" style="vertical-align:bottom;width:1%;border-bottom:2px solid rgb(0, 0, 0);vertical-align:bottom"> </td> <td colspan="1" style="vertical-align:bottom;text-align:right;width:9%;border-bottom:2px solid rgb(0, 0, 0);vertical-align:bottom"> <div style="line-height:1.25"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">(2,028</span></span></div> </td> <td colspan="1" style="vertical-align:bottom;width:1%;padding-bottom:2px;vertical-align:bottom;white-space:nowrap"> <div style="line-height:1.25"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>)</span></span></span></span></div> </td> </tr> <tr> <td style="vertical-align:top;width:88%;padding-bottom:4px;background-color:rgb(204, 238, 255);vertical-align:bottom"> <div style="text-align:justify;line-height:1.25"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>Total</span></span></span></span></div> </td> <td colspan="1" style="vertical-align:bottom;width:1%;padding-bottom:4px;background-color:rgb(204, 238, 255);vertical-align:bottom"> </td> <td colspan="1" style="vertical-align:bottom;width:1%;border-bottom:4px double rgb(0, 0, 0);background-color:rgb(204, 238, 255);vertical-align:bottom"> <div style="line-height:1.25"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>$</span></span></span></span></div> </td> <td colspan="1" style="vertical-align:bottom;text-align:right;width:9%;border-bottom:4px double rgb(0, 0, 0);background-color:rgb(204, 238, 255);vertical-align:bottom"> <div style="line-height:1.25"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">52,928</span></span></div> </td> <td colspan="1" style="vertical-align:bottom;width:1%;padding-bottom:4px;background-color:rgb(204, 238, 255);vertical-align:bottom;white-space:nowrap"> </td> </tr> </table> 25838000 8245000 6112000 5495000 4118000 5148000 54956000 2028000 52928000 8899000 4592000 4807000 110582000 <div> <div style="margin-left:99pt"> <table border="0" cellpadding="0" cellspacing="0" style="width:85%;color:#000000;font-family:'Times New Roman', Times, serif;font-size:10pt;text-align:left"> <tr> <td style="vertical-align:bottom;border-bottom:2px solid rgb(0, 0, 0);width:37%"> <div style="line-height:1.25"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>Details</span></span></span></span></div> </td> <td colspan="1" style="vertical-align:bottom;width:1%;padding-bottom:2px"> </td> <td style="vertical-align:bottom;border-bottom:2px solid rgb(0, 0, 0);width:38%"> <div style="line-height:1.25"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>Presentation in the Consolidated Balance Sheets</span></span></span></span></div> </td> <td colspan="1" style="vertical-align:bottom;padding-bottom:2px;width:1%;vertical-align:bottom"> </td> <td colspan="2" style="vertical-align:middle;border-bottom:2px solid rgb(0, 0, 0);vertical-align:bottom"> <div style="text-align:center;line-height:1.25"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>December 31, 2025</span></span></span></span></div> </td> <td colspan="1" style="vertical-align:bottom;padding-bottom:2px;width:1%;vertical-align:bottom;white-space:nowrap"> </td> <td colspan="1" style="vertical-align:bottom;padding-bottom:2px;width:1%;vertical-align:bottom"> </td> <td colspan="2" style="vertical-align:middle;border-bottom:2px solid rgb(0, 0, 0);vertical-align:bottom"> <div style="text-align:center;line-height:1.25"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>December 31, 2024</span></span></span></span></div> </td> <td colspan="1" style="vertical-align:bottom;padding-bottom:2px;width:1%;vertical-align:bottom;white-space:nowrap"> </td> </tr> <tr> <td style="vertical-align:middle;width:37%;padding-bottom:4px;background-color:rgb(204, 238, 255);vertical-align:bottom"> <div style="text-align:justify;line-height:1.25"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>ROU - assets under operating leases</span></span></span></span></div> </td> <td colspan="1" style="vertical-align:middle;width:1%;padding-bottom:4px;background-color:rgb(204, 238, 255);vertical-align:bottom"> </td> <td style="vertical-align:middle;width:38%;padding-bottom:4px;background-color:rgb(204, 238, 255);vertical-align:bottom"> <div style="line-height:1.25"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span><span style="-sec-ix-hidden:Fxbrl_20240227102139632"><span>Other long-term assets, net</span></span></span></span></span></span></div> </td> <td colspan="1" style="vertical-align:bottom;width:1%;padding-bottom:4px;background-color:rgb(204, 238, 255);vertical-align:bottom"> </td> <td colspan="1" style="vertical-align:bottom;width:1%;border-bottom:4px double rgb(0, 0, 0);background-color:rgb(204, 238, 255);vertical-align:bottom"> <div style="line-height:1.25"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>$</span></span></span></span></div> </td> <td colspan="1" style="vertical-align:bottom;text-align:right;width:9%;border-bottom:4px double rgb(0, 0, 0);background-color:rgb(204, 238, 255);vertical-align:bottom"> <div style="line-height:1.25"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">117,704</span></span></div> </td> <td colspan="1" style="vertical-align:bottom;width:1%;padding-bottom:4px;background-color:rgb(204, 238, 255);vertical-align:bottom;white-space:nowrap"> </td> <td colspan="1" style="vertical-align:bottom;width:1%;padding-bottom:4px;background-color:rgb(204, 238, 255);vertical-align:bottom"> </td> <td colspan="1" style="vertical-align:bottom;width:1%;border-bottom:4px double rgb(0, 0, 0);background-color:rgb(204, 238, 255);vertical-align:bottom"> <div style="line-height:1.25"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>$</span></span></span></span></div> </td> <td colspan="1" style="vertical-align:bottom;text-align:right;width:9%;border-bottom:4px double rgb(0, 0, 0);background-color:rgb(204, 238, 255);vertical-align:bottom"> <div style="line-height:1.25"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">7,874</span></span></div> </td> <td colspan="1" style="vertical-align:bottom;width:1%;padding-bottom:4px;background-color:rgb(204, 238, 255);vertical-align:bottom;white-space:nowrap"> </td> </tr> <tr> <td style="vertical-align:middle;width:37%;vertical-align:bottom"> <div style="text-align:justify;line-height:1.25"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>Lease liabilities:</span></span></span></span></div> </td> <td colspan="1" style="vertical-align:middle;width:1%;vertical-align:bottom"> </td> <td style="vertical-align:middle;width:38%;vertical-align:bottom"> </td> <td colspan="1" style="vertical-align:bottom;width:1%;vertical-align:bottom"> </td> <td colspan="1" style="vertical-align:bottom;width:1%;vertical-align:bottom"> </td> <td colspan="1" style="vertical-align:bottom;text-align:right;width:9%;vertical-align:bottom"> </td> <td colspan="1" style="vertical-align:bottom;width:1%;vertical-align:bottom;white-space:nowrap"> </td> <td colspan="1" style="vertical-align:bottom;width:1%;vertical-align:bottom"> </td> <td colspan="1" style="vertical-align:bottom;width:1%;vertical-align:bottom"> </td> <td colspan="1" style="vertical-align:bottom;text-align:right;width:9%;vertical-align:bottom"> </td> <td colspan="1" style="vertical-align:bottom;width:1%;vertical-align:bottom;white-space:nowrap"> </td> </tr> <tr> <td style="vertical-align:middle;width:37%;background-color:rgb(204, 238, 255);vertical-align:bottom"> <div style="text-align:justify;line-height:1.25"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>Current operating lease liabilities</span></span></span></span></div> </td> <td colspan="1" style="vertical-align:middle;width:1%;background-color:rgb(204, 238, 255);vertical-align:bottom"> </td> <td style="vertical-align:middle;width:38%;background-color:rgb(204, 238, 255);vertical-align:bottom"> <div style="line-height:1.25"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span><span style="-sec-ix-hidden:Fxbrl_20240229205832423"><span>Current maturities of long-term debt</span></span></span></span></span></span></div> </td> <td colspan="1" style="vertical-align:bottom;width:1%;background-color:rgb(204, 238, 255);vertical-align:bottom"> </td> <td colspan="1" style="vertical-align:bottom;width:1%;background-color:rgb(204, 238, 255);vertical-align:bottom"> <div style="line-height:1.25"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>$</span></span></span></span></div> </td> <td colspan="1" style="vertical-align:bottom;text-align:right;width:9%;background-color:rgb(204, 238, 255);vertical-align:bottom"> <div style="line-height:1.25"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">3,069</span></span></div> </td> <td colspan="1" style="vertical-align:bottom;width:1%;background-color:rgb(204, 238, 255);vertical-align:bottom;white-space:nowrap"> </td> <td colspan="1" style="vertical-align:bottom;width:1%;background-color:rgb(204, 238, 255);vertical-align:bottom"> </td> <td colspan="1" style="vertical-align:bottom;width:1%;background-color:rgb(204, 238, 255);vertical-align:bottom"> <div style="line-height:1.25"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>$</span></span></span></span></div> </td> <td colspan="1" style="vertical-align:bottom;text-align:right;width:9%;background-color:rgb(204, 238, 255);vertical-align:bottom"> <div style="line-height:1.25"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">3,913</span></span></div> </td> <td colspan="1" style="vertical-align:bottom;width:1%;background-color:rgb(204, 238, 255);vertical-align:bottom;white-space:nowrap"> </td> </tr> <tr> <td style="vertical-align:middle;width:37%;padding-bottom:2px;vertical-align:bottom"> <div style="text-align:justify;line-height:1.25"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>Long-term operating lease liabilities</span></span></span></span></div> </td> <td colspan="1" style="vertical-align:middle;width:1%;padding-bottom:2px;vertical-align:bottom"> </td> <td style="vertical-align:middle;width:38%;padding-bottom:2px;vertical-align:bottom"> <div style="line-height:1.25"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span><span style="-sec-ix-hidden:Fxbrl_20240227102101706"><span>Long-term debt</span></span></span></span></span></span></div> </td> <td colspan="1" style="vertical-align:bottom;width:1%;padding-bottom:2px;vertical-align:bottom"> </td> <td colspan="1" style="vertical-align:bottom;width:1%;border-bottom:2px solid rgb(0, 0, 0);vertical-align:bottom"> </td> <td colspan="1" style="vertical-align:bottom;text-align:right;width:9%;border-bottom:2px solid rgb(0, 0, 0);vertical-align:bottom"> <div style="line-height:1.25"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">12,953</span></span></div> </td> <td colspan="1" style="vertical-align:bottom;width:1%;padding-bottom:2px;vertical-align:bottom;white-space:nowrap"> </td> <td colspan="1" style="vertical-align:bottom;width:1%;padding-bottom:2px;vertical-align:bottom"> </td> <td colspan="1" style="vertical-align:bottom;width:1%;border-bottom:2px solid rgb(0, 0, 0);vertical-align:bottom"> </td> <td colspan="1" style="vertical-align:bottom;text-align:right;width:9%;border-bottom:2px solid rgb(0, 0, 0);vertical-align:bottom"> <div style="line-height:1.25"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">3,961</span></span></div> </td> <td colspan="1" style="vertical-align:bottom;width:1%;padding-bottom:2px;vertical-align:bottom;white-space:nowrap"> </td> </tr> <tr> <td style="vertical-align:middle;width:37%;padding-bottom:4px;background-color:rgb(204, 238, 255);vertical-align:bottom"> <div style="text-align:justify;line-height:1.25"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>Total operating lease liabilities</span></span></span></span></div> </td> <td colspan="1" style="vertical-align:middle;width:1%;padding-bottom:4px;background-color:rgb(204, 238, 255);vertical-align:bottom"> </td> <td style="vertical-align:middle;width:38%;padding-bottom:4px;background-color:rgb(204, 238, 255);vertical-align:bottom"> </td> <td colspan="1" style="vertical-align:bottom;width:1%;padding-bottom:4px;background-color:rgb(204, 238, 255);vertical-align:bottom"> </td> <td colspan="1" style="vertical-align:bottom;width:1%;border-bottom:4px double rgb(0, 0, 0);background-color:rgb(204, 238, 255);vertical-align:bottom"> <div style="line-height:1.25"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>$</span></span></span></span></div> </td> <td colspan="1" style="vertical-align:bottom;text-align:right;width:9%;border-bottom:4px double rgb(0, 0, 0);background-color:rgb(204, 238, 255);vertical-align:bottom"> <div style="line-height:1.25"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">16,022</span></span></div> </td> <td colspan="1" style="vertical-align:bottom;width:1%;padding-bottom:4px;background-color:rgb(204, 238, 255);vertical-align:bottom;white-space:nowrap"> </td> <td colspan="1" style="vertical-align:bottom;width:1%;padding-bottom:4px;background-color:rgb(204, 238, 255);vertical-align:bottom"> </td> <td colspan="1" style="vertical-align:bottom;width:1%;border-bottom:4px double rgb(0, 0, 0);background-color:rgb(204, 238, 255);vertical-align:bottom"> <div style="line-height:1.25"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>$</span></span></span></span></div> </td> <td colspan="1" style="vertical-align:bottom;text-align:right;width:9%;border-bottom:4px double rgb(0, 0, 0);background-color:rgb(204, 238, 255);vertical-align:bottom"> <div style="line-height:1.25"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">7,874</span></span></div> </td> <td colspan="1" style="vertical-align:bottom;width:1%;padding-bottom:4px;background-color:rgb(204, 238, 255);vertical-align:bottom;white-space:nowrap"> </td> </tr> <tr> <td style="vertical-align:middle;width:37%;padding-bottom:4px;vertical-align:bottom"> <div style="line-height:1.25"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>Weighted average remaining lease term (years)</span></span></span></span></div> </td> <td colspan="1" style="vertical-align:middle;width:1%;padding-bottom:4px;vertical-align:bottom"> </td> <td style="vertical-align:top;width:38%;padding-bottom:4px;vertical-align:bottom"> </td> <td colspan="1" style="vertical-align:bottom;width:1%;padding-bottom:4px;vertical-align:bottom"> </td> <td colspan="1" style="vertical-align:bottom;width:1%;border-bottom:4px double rgb(0, 0, 0);vertical-align:bottom"> </td> <td colspan="1" style="vertical-align:bottom;text-align:right;width:9%;border-bottom:4px double rgb(0, 0, 0);vertical-align:bottom"> <div style="line-height:1.25"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">4.5</span></span></div> </td> <td colspan="1" style="vertical-align:bottom;width:1%;padding-bottom:4px;vertical-align:bottom;white-space:nowrap"> </td> <td colspan="1" style="vertical-align:bottom;width:1%;padding-bottom:4px;vertical-align:bottom"> </td> <td colspan="1" style="vertical-align:bottom;width:1%;border-bottom:4px double rgb(0, 0, 0);vertical-align:bottom"> </td> <td colspan="1" style="vertical-align:bottom;text-align:right;width:9%;border-bottom:4px double rgb(0, 0, 0);vertical-align:bottom"> <div style="line-height:1.25"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">2.6</span></span></div> </td> <td colspan="1" style="vertical-align:bottom;width:1%;padding-bottom:4px;vertical-align:bottom;white-space:nowrap"> </td> </tr> <tr> <td style="vertical-align:middle;width:37%;padding-bottom:2px;background-color:rgb(204, 238, 255);vertical-align:bottom"> <div style="text-align:justify;line-height:1.25"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>Weighted average discount rate</span></span></span></span></div> </td> <td colspan="1" style="vertical-align:middle;width:1%;padding-bottom:2px;background-color:rgb(204, 238, 255);vertical-align:bottom"> </td> <td style="vertical-align:top;width:38%;padding-bottom:2px;background-color:rgb(204, 238, 255);vertical-align:bottom"> </td> <td colspan="1" style="vertical-align:bottom;width:1%;padding-bottom:2px;background-color:rgb(204, 238, 255);vertical-align:bottom"> </td> <td colspan="1" style="vertical-align:bottom;width:1%;border-bottom:2px solid rgb(0, 0, 0);background-color:rgb(204, 238, 255);vertical-align:bottom"> </td> <td colspan="1" style="vertical-align:bottom;text-align:right;width:9%;border-bottom:2px solid rgb(0, 0, 0);background-color:rgb(204, 238, 255);vertical-align:bottom"> <div style="line-height:1.25"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">1.95</span></span></div> </td> <td colspan="1" style="vertical-align:bottom;width:1%;padding-bottom:2px;background-color:rgb(204, 238, 255);vertical-align:bottom;white-space:nowrap"> <div style="line-height:1.25"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>%</span></span></span></span></div> </td> <td colspan="1" style="vertical-align:bottom;width:1%;padding-bottom:2px;background-color:rgb(204, 238, 255);vertical-align:bottom"> </td> <td colspan="1" style="vertical-align:bottom;width:1%;border-bottom:2px solid rgb(0, 0, 0);background-color:rgb(204, 238, 255);vertical-align:bottom"> </td> <td colspan="1" style="vertical-align:bottom;text-align:right;width:9%;border-bottom:2px solid rgb(0, 0, 0);background-color:rgb(204, 238, 255);vertical-align:bottom"> <div style="line-height:1.25"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">1.95</span></span></div> </td> <td colspan="1" style="vertical-align:bottom;width:1%;padding-bottom:2px;background-color:rgb(204, 238, 255);vertical-align:bottom;white-space:nowrap"> <div style="line-height:1.25"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>%</span></span></span></span></div> </td> </tr> </table> </div> </div> 117704000 7874000 3069000 3913000 12953000 3961000 16022000 7874000 P4Y6M P2Y7M6D 0.0195 0.0195 <table border="0" cellpadding="0" cellspacing="0" style="width:60%;color:#000000;font-family:'Times New Roman', Times, serif;font-size:10pt;text-align:left;margin:auto"> <tr> <td style="vertical-align:bottom;border-bottom:2px solid rgb(0, 0, 0)"> <div style="line-height:1.25"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>Fiscal Year</span></span></span></span></div> </td> <td colspan="1" style="vertical-align:bottom;padding-bottom:2px;vertical-align:bottom"> </td> <td colspan="2" style="vertical-align:middle;border-bottom:2px solid rgb(0, 0, 0);vertical-align:bottom"> <div style="text-align:center;line-height:1.25"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>Amount ($)</span></span></span></span></div> </td> <td colspan="1" style="vertical-align:bottom;padding-bottom:2px;vertical-align:bottom;white-space:nowrap"> </td> </tr> <tr> <td style="vertical-align:middle;width:88%;background-color:rgb(204, 238, 255);vertical-align:bottom"> <div style="text-align:justify;line-height:1.25"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>2026</span></span></span></span></div> </td> <td colspan="1" style="vertical-align:bottom;width:1%;background-color:rgb(204, 238, 255);vertical-align:bottom"> </td> <td colspan="1" style="vertical-align:bottom;width:1%;background-color:rgb(204, 238, 255);vertical-align:bottom"> <div style="line-height:1.25"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>$</span></span></span></span></div> </td> <td colspan="1" style="vertical-align:bottom;text-align:right;width:9%;background-color:rgb(204, 238, 255);vertical-align:bottom"> <div style="line-height:1.25"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">3,330</span></span></div> </td> <td colspan="1" style="vertical-align:bottom;width:1%;background-color:rgb(204, 238, 255);vertical-align:bottom;white-space:nowrap"> </td> </tr> <tr> <td style="vertical-align:middle;width:88%;vertical-align:bottom"> <div style="text-align:justify;line-height:1.25"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>2027</span></span></span></span></div> </td> <td colspan="1" style="vertical-align:bottom;width:1%;vertical-align:bottom"> </td> <td colspan="1" style="vertical-align:bottom;width:1%;vertical-align:bottom"> </td> <td colspan="1" style="vertical-align:bottom;text-align:right;width:9%;vertical-align:bottom"> <div style="line-height:1.25"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">5,016</span></span></div> </td> <td colspan="1" style="vertical-align:bottom;width:1%;vertical-align:bottom;white-space:nowrap"> </td> </tr> <tr> <td style="vertical-align:middle;width:88%;background-color:rgb(204, 238, 255);vertical-align:bottom"> <div style="text-align:justify;line-height:1.25"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>2028</span></span></span></span></div> </td> <td colspan="1" style="vertical-align:bottom;width:1%;background-color:rgb(204, 238, 255);vertical-align:bottom"> </td> <td colspan="1" style="vertical-align:bottom;width:1%;background-color:rgb(204, 238, 255);vertical-align:bottom"> </td> <td colspan="1" style="vertical-align:bottom;text-align:right;width:9%;background-color:rgb(204, 238, 255);vertical-align:bottom"> <div style="line-height:1.25"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>5,007</span></span></span></span></div> </td> <td colspan="1" style="vertical-align:bottom;width:1%;background-color:rgb(204, 238, 255);vertical-align:bottom;white-space:nowrap"> </td> </tr> <tr> <td style="vertical-align:middle;width:88%;padding-bottom:2px;vertical-align:bottom"> <div style="text-align:justify;line-height:1.25"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>2029</span></span></span></span></div> </td> <td colspan="1" style="vertical-align:bottom;width:1%;padding-bottom:2px;vertical-align:bottom"> </td> <td colspan="1" style="vertical-align:bottom;width:1%;border-bottom:2px solid rgb(0, 0, 0);vertical-align:bottom"> </td> <td colspan="1" style="vertical-align:bottom;text-align:right;width:9%;border-bottom:2px solid rgb(0, 0, 0);vertical-align:bottom"> <div style="line-height:1.25"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>3,293</span></span></span></span></div> </td> <td colspan="1" style="vertical-align:bottom;width:1%;padding-bottom:2px;vertical-align:bottom;white-space:nowrap"> </td> </tr> <tr> <td style="vertical-align:middle;width:88%;background-color:rgb(204, 238, 255);vertical-align:bottom"> <div style="text-align:justify;line-height:1.25"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>Total</span></span></span></span></div> </td> <td colspan="1" style="vertical-align:bottom;width:1%;background-color:rgb(204, 238, 255);vertical-align:bottom"> </td> <td colspan="1" style="vertical-align:bottom;width:1%;background-color:rgb(204, 238, 255);vertical-align:bottom"> </td> <td colspan="1" style="vertical-align:bottom;text-align:right;width:9%;background-color:rgb(204, 238, 255);vertical-align:bottom"> <div style="line-height:1.25"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">16,646</span></span></div> </td> <td colspan="1" style="vertical-align:bottom;width:1%;background-color:rgb(204, 238, 255);vertical-align:bottom;white-space:nowrap"> </td> </tr> <tr> <td style="vertical-align:middle;width:88%;padding-bottom:2px;vertical-align:bottom"> <div style="text-align:justify;line-height:1.25"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>Less - imputed interest</span></span></span></span></div> </td> <td colspan="1" style="vertical-align:bottom;width:1%;padding-bottom:2px;vertical-align:bottom"> </td> <td colspan="1" style="vertical-align:bottom;width:1%;border-bottom:2px solid rgb(0, 0, 0);vertical-align:bottom"> </td> <td colspan="1" style="vertical-align:bottom;text-align:right;width:9%;border-bottom:2px solid rgb(0, 0, 0);vertical-align:bottom"> <div style="line-height:1.25"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">(624</span></span></div> </td> <td colspan="1" style="vertical-align:bottom;width:1%;padding-bottom:2px;vertical-align:bottom;white-space:nowrap"> <div style="line-height:1.25"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>)</span></span></span></span></div> </td> </tr> <tr> <td style="vertical-align:middle;width:88%;padding-bottom:4px;background-color:rgb(204, 238, 255);vertical-align:bottom"> <div style="text-align:justify;line-height:1.25"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>Total</span></span></span></span></div> </td> <td colspan="1" style="vertical-align:bottom;width:1%;padding-bottom:4px;background-color:rgb(204, 238, 255);vertical-align:bottom"> </td> <td colspan="1" style="vertical-align:bottom;width:1%;border-bottom:4px double rgb(0, 0, 0);background-color:rgb(204, 238, 255);vertical-align:bottom"> <div style="line-height:1.25"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>$</span></span></span></span></div> </td> <td colspan="1" style="vertical-align:bottom;text-align:right;width:9%;border-bottom:4px double rgb(0, 0, 0);background-color:rgb(204, 238, 255);vertical-align:bottom"> <div style="line-height:1.25"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">16,022</span></span></div> </td> <td colspan="1" style="vertical-align:bottom;width:1%;padding-bottom:4px;background-color:rgb(204, 238, 255);vertical-align:bottom;white-space:nowrap"> </td> </tr> </table> 3330000 5016000 5007000 3293000 16646000 624000 16022000 <div> <div style="line-height:1.25"> <div style="text-align:justify;line-height:1.25"> <div style="line-height:1.25"> <div style="line-height:1.25"> <div style="line-height:1.25"> <div style="line-height:1.25"> <table border="0" cellpadding="0" cellspacing="0" style="font-family:'Times New Roman', Times, serif;font-size:10pt;color:#000000;width:100%"> <tr> <td style="width:56pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span style="font-weight:bold">NOTE 10:</span></span></span></td> <td style="width:auto"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span style="font-weight:bold">FINANCIAL INSTRUMENTS AND FAIR VALUE MEASUREMENTS</span></span></span></td> </tr> </table> <div style="line-height:1.25"> </div> </div> </div> </div> </div> </div> </div> <div style="line-height:1.25"> <div style="line-height:1.25"> <div> <div style="line-height:1.25"> <table border="0" cellpadding="0" cellspacing="0" style="font-family:'Times New Roman', Times, serif;font-size:10pt;color:#000000;width:100%"> <tr> <td style="width:56pt"> <div> </div> </td> <td style="font-weight:bold;width:22pt"> </td> <td style="font-weight:bold;width:auto"> <div> <div style="text-align:justify;line-height:1.25;font-weight:normal"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">The Company makes certain disclosures as detailed below with regards to financial instruments, including derivatives. These disclosures include, among other matters, the nature and terms of derivative transactions, information about significant concentrations of credit risk and the fair value of financial assets and liabilities.</span></span></div> <div style="line-height:1.25;font-weight:normal"> </div> <div style="text-align:justify;line-height:1.25;font-weight:normal"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">The Company formally designates qualifying derivatives as hedge relationships (“hedges”) and applies hedge accounting when considered appropriate. The Company does not use derivative financial instruments for trading or speculative purposes.</span></span></div> </div> </td> </tr> </table> </div> </div> </div> </div> <p style="margin-top:0pt;margin-bottom:0pt;font-family:Times New Roman,Times,serif;text-align:left;font-size:10pt"> </p> <div style="margin-top:0px;margin-bottom:0px"></div> <div style="line-height:1.25"> <div style="line-height:1.25"> <div> <div style="line-height:1.25"> <table border="0" cellpadding="0" cellspacing="0" style="font-family:'Times New Roman', Times, serif;font-size:10pt;color:#000000;width:100%"> <tr> <td style="width:56pt"> <div> </div> </td> <td style="font-weight:bold;width:22pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">A.</span></span></td> <td style="font-weight:bold;width:auto"> <div><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span style="font-weight:bold">Exchange Rate Transactions</span></span></span></div> </td> </tr> </table> <div style="line-height:1.25"> <div style="line-height:1.25"> <div> <div style="line-height:1.25"> <table border="0" cellpadding="0" cellspacing="0" style="font-family:'Times New Roman', Times, serif;font-size:10pt;color:#000000;width:100%"> <tr> <td style="width:56pt"> <div> </div> </td> <td style="font-weight:bold;width:22pt"> </td> <td style="font-weight:normal;width:auto"> <div> <div style="text-align:justify;line-height:1.25"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">As the functional currency of the Company is the USD and a portion of Tower’s expenses are denominated in NIS, the Company enters into exchange rate agreements from time to time to partially hedge the volatility of future cash flows caused by changes in foreign exchange rates on NIS-denominated expenses. The exchange rate transaction-related derivatives were accounted for as hedge accounting, resulting in gain or loss initially reported as a component of OCI and subsequently, upon maturity, recorded in the statement of operations, when the hedged item’s exposure affects earnings. As of December 31, 2025 and 2024, the fair values of these exchange rate translation-related derivatives, net were $13,540 and $768, respectively, in an asset position, presented in other current assets. The face values of such agreements as of such dates were $156,000 and $156,000, respectively.</span></span></div> <div style="line-height:1.25"> </div> <div style="text-align:justify;line-height:1.25"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">As the functional currency of the Company is the USD and TPSCo revenue and a portion of its expenses are denominated in JPY, the Company enters into exchange rate agreements from time to time to partially hedge the volatility of future cash flows caused by changes in foreign exchange rates on JPY-denominated amounts. The exchange rate transaction related derivatives were accounted for as hedge accounting resulting in gain or loss initially reported as a component of OCI and subsequently, upon maturity, recorded in the statement of operations, when the hedged item’s exposure affects earnings. As of December 31, 2025, the fair value of these exchange rate translation-related derivatives, net was $6,996 in a liability position, of which $4,806 presented in other current liabilities and $2,190 presented in other long term liabilities. As of December 31, 2024, the fair value of such derivatives was $4,261 in a liability position, presented in other current liabilities. As of December 31, 2025 and 2024, the face value amounts of such agreements were $243,000 and $186,000, respectively.</span></span></div> <div style="line-height:1.25"> </div> <div style="text-align:justify;line-height:1.25"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">As the functional currency of the Company is the USD and a portion of TSIT’s expenses are denominated in EUR, the Company enters into exchange rate agreements from time to time to partially hedge the volatility of future cash flows caused by changes in foreign exchange rates on EUR-denominated expenses.  The exchange rate transaction-related derivatives were accounted for as hedge accounting resulting in gain or loss initially reported as a component of OCI and subsequently, upon maturity, recorded in the statement of operations, when the hedged item’s exposure affects earnings. As of December 31, 2025, the fair value of these exchange rate translation-related derivatives, net was $923 in an asset position, presented in other current assets and as of December 31, 2024, the fair value of such derivatives, net was $809 in a liability position, presented in other current liabilities. The face value amounts of such exchange rate agreements as of such dates were $48,000 and $39,600, respectively.</span></span></div> </div> </td> </tr> </table> </div> </div> </div> </div> </div> </div> </div> </div> <p style="margin-top:0pt;margin-bottom:0pt;font-family:Times New Roman,Times,serif;text-align:left;font-size:10pt"> </p> <div style="margin-top:0px;margin-bottom:0px"></div> <div style="line-height:1.25"> <div style="line-height:1.25"> <div style="line-height:1.25"> <div> <div style="line-height:1.25"> <table border="0" cellpadding="0" cellspacing="0" style="font-family:'Times New Roman', Times, serif;font-size:10pt;color:#000000;width:100%"> <tr> <td style="width:56pt"> <div> </div> </td> <td style="font-weight:bold;width:22pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">B.</span></span></td> <td style="font-weight:bold;width:auto"> <div> <div style="font-weight:bold"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">Concentration of Credit Risks</span></span></div> </div> </td> </tr> </table> <div style="line-height:1.25"> <div style="line-height:1.25"> <div> <div style="line-height:1.25"> <table border="0" cellpadding="0" cellspacing="0" style="font-family:'Times New Roman', Times, serif;font-size:10pt;color:#000000;width:100%"> <tr> <td style="width:56pt"> <div> </div> </td> <td style="font-weight:bold;width:22pt"> </td> <td style="font-weight:bold;width:auto"> <div> <div style="font-weight:bold"> <div style="text-align:justify;line-height:1.25;font-weight:normal"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">Financial instruments that potentially subject the Company to concentrations of credit risk consist principally of cash and cash equivalents, bank deposits, derivatives, trade receivables and government and other receivables. The Company’s cash, deposits and derivatives are maintained with large and reputable banks and investment banks. The composition and maturities of investments are regularly monitored by the Company. Generally, these securities may be redeemed upon demand and bear minimal risk.</span></span></div> <div style="line-height:1.25;font-weight:normal"> </div> <div style="text-align:justify;line-height:1.25;font-weight:normal"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">The Company generally does not require collateral for insurance of receivables; however, in certain circumstances, the Company obtains credit insurance or may require advance payments. An allowance for current expected credit losses is maintained with respect to trade accounts receivable which as of December 31, 2025 was an insignificant amount. The Company performs ongoing credit evaluations of its customers.</span></span></div> </div> </div> </td> </tr> <tr> <td style="width:56pt"> </td> <td style="font-weight:bold;width:22pt"> </td> <td style="font-weight:bold;width:auto"> </td> </tr> </table> </div> </div> </div> </div> </div> </div> </div> </div> </div> <div style="line-height:1.25"> <div style="line-height:1.25"> <div style="line-height:1.25"> <div> <div style="line-height:1.25"> <table border="0" cellpadding="0" cellspacing="0" style="font-family:'Times New Roman', Times, serif;font-size:10pt;color:#000000;width:100%"> <tr> <td style="width:56pt"> <div> </div> </td> <td style="font-weight:bold;width:22pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">C.</span></span></td> <td style="font-weight:bold;width:auto"> <div> <div style="font-weight:bold"> <div style="font-weight:bold"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">Fair Value of Financial Instruments</span></span></div> </div> </div> </td> </tr> </table> <div style="line-height:1.25"> <div style="line-height:1.25"> <div style="line-height:1.25"> <div> <div style="line-height:1.25"> <table border="0" cellpadding="0" cellspacing="0" style="font-family:'Times New Roman', Times, serif;font-size:10pt;color:#000000;width:100%"> <tr> <td style="width:56pt"> <div> </div> </td> <td style="font-weight:bold;width:22pt"> </td> <td style="font-weight:normal;width:auto"> <div> <div> <div> <div style="text-align:justify;line-height:1.25"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">The estimated fair values of the Company’s financial instruments do not materially differ from their respective carrying amounts as of December 31, 2025 and 2024.</span></span></div> </div> </div> </div> </td> </tr> </table> </div> </div> </div> </div> </div> </div> </div> </div> </div> </div> <div style="line-height:1.25"> <div style="line-height:1.25"> <div style="line-height:1.25"> <div> <div style="line-height:1.25"> <table border="0" cellpadding="0" cellspacing="0" style="font-family:'Times New Roman', Times, serif;font-size:10pt;color:#000000;width:100%"> <tr> <td style="width:56pt"> </td> <td style="font-weight:bold;width:22pt"> </td> <td style="font-weight:bold;width:auto"> </td> </tr> <tr> <td style="width:56pt"> <div> </div> </td> <td style="font-weight:bold;width:22pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">D.</span></span></td> <td style="font-weight:bold;width:auto"> <div> <div style="font-weight:bold"> <div style="font-weight:bold"> <div style="font-weight:bold"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">Fair Value Measurements</span></span></div> </div> </div> </div> </td> </tr> </table> <div style="line-height:1.25"> <div style="line-height:1.25"> <div style="line-height:1.25"> <div> <div style="line-height:1.25"> <table border="0" cellpadding="0" cellspacing="0" style="font-family:'Times New Roman', Times, serif;font-size:10pt;color:#000000;width:100%"> <tr> <td style="width:56pt"> <div> </div> </td> <td style="font-weight:bold;width:22pt"> </td> <td style="font-weight:bold;font-style:italic;width:auto"> <div> <div style="font-weight:bold"> <div style="font-weight:bold"> <div style="font-weight:bold"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">Valuation Techniques</span></span></div> </div> </div> </div> </td> </tr> </table> <div style="line-height:1.25"> <div style="line-height:1.25"> <div style="line-height:1.25"> <div> <div style="line-height:1.25"> <table border="0" cellpadding="0" cellspacing="0" style="font-family:'Times New Roman', Times, serif;font-size:10pt;color:#000000;width:100%"> <tr> <td style="width:56pt"> <div> </div> </td> <td style="font-weight:bold;width:22pt"> </td> <td style="font-weight:normal;font-style:normal;width:auto"> <div> <div> <div> <div> <div style="text-align:justify;line-height:1.25"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">In general, and where applicable, the Company uses quoted prices in active markets for identical assets or liabilities to determine fair value. This pricing methodology applies to the Company’s Level 1 assets and liabilities. If quoted prices in active markets for identical assets and liabilities are not available to determine fair value, the Company uses quoted prices for similar assets and liabilities or inputs other than the quoted prices that are observable, either directly or indirectly. This pricing methodology applies to the Company’s Level 2 and Level 3 assets and liabilities.</span></span></div> </div> </div> </div> </div> </td> </tr> <tr> <td style="width:56pt"> </td> <td style="font-weight:bold;width:22pt"> </td> <td style="font-weight:normal;font-style:normal;width:auto"> </td> </tr> </table> </div> </div> </div> </div> </div> </div> </div> </div> </div> </div> </div> </div> </div> </div> </div> <div style="line-height:1.25"> <div style="line-height:1.25"> <div style="line-height:1.25"> <div style="line-height:1.25"> <div> <div style="line-height:1.25"> <table border="0" cellpadding="0" cellspacing="0" style="font-family:'Times New Roman', Times, serif;font-size:10pt;color:#000000;width:100%"> <tr> <td style="width:56pt"> <div> </div> </td> <td style="font-weight:bold;width:22pt"> </td> <td style="font-weight:bold;font-style:italic;width:auto"> <div> <div style="font-weight:bold"> <div style="font-weight:bold"> <div style="font-weight:bold"> <div style="text-align:justify;line-height:1.25;font-style:italic;font-weight:bold"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">Level 1 Measurements</span></span></div> </div> </div> </div> </div> </td> </tr> </table> <div style="line-height:1.25"> <div style="line-height:1.25"> <div style="line-height:1.25"> <div> <div style="line-height:1.25"> <table border="0" cellpadding="0" cellspacing="0" style="font-family:'Times New Roman', Times, serif;font-size:10pt;color:#000000;width:100%"> <tr> <td style="width:56pt"> <div> </div> </td> <td style="font-weight:bold;width:22pt"> </td> <td style="font-weight:normal;font-style:normal;width:auto"> <div> <div> <div> <div> <div style="text-align:justify;line-height:1.25"> <div style="line-height:1.25"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">Securities classified as available-for-sale are reported at fair value on a recurring basis. These securities are classified as Level 1 of the valuation hierarchy where quoted market prices from reputable third-party brokers are available in an active market. Changes in fair value of securities available-for-sale are recorded in other comprehensive income. During 2024, the Company sold its entire marketable securities portfolio and had no outstanding marketable securities as of December 31, 2024.</span></span></div> </div> </div> </div> </div> </div> </td> </tr> </table> <p style="margin-top:0pt;margin-bottom:0pt;font-family:Times New Roman,Times,serif;text-align:left;font-size:10pt"> </p> </div> </div> </div> </div> </div> </div> </div> </div> </div> </div> </div> <div style="margin-top:0px;margin-bottom:0px"></div> <div style="line-height:1.25"> <div style="line-height:1.25"> <div style="line-height:1.25"> <div> <div style="line-height:1.25"> <div style="line-height:1.25"> <div style="line-height:1.25"> <div style="line-height:1.25"> <div style="line-height:1.25"> <div> <div style="line-height:1.25"> <table border="0" cellpadding="0" cellspacing="0" style="font-family:'Times New Roman', Times, serif;font-size:10pt;color:#000000;width:100%"> <tr> <td style="width:56pt"> <div> </div> </td> <td style="font-weight:bold;width:22pt"> </td> <td style="font-weight:bold;font-style:italic;width:auto"> <div> <div style="font-weight:bold"> <div style="font-weight:bold"> <div style="font-weight:bold"> <div style="text-align:justify;line-height:1.25;font-style:italic;font-weight:bold"> <div style="line-height:1.25;font-style:italic;font-weight:bold"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">Level 2 Measurements</span></span></div> </div> </div> </div> </div> </div> </td> </tr> </table> <div style="line-height:1.25"> <div style="line-height:1.25"> <div style="line-height:1.25"> <div> <div style="line-height:1.25"> <table border="0" cellpadding="0" cellspacing="0" style="font-family:'Times New Roman', Times, serif;font-size:10pt;color:#000000;width:100%"> <tr> <td style="width:56pt"> <div> </div> </td> <td style="font-weight:bold;width:22pt"> </td> <td style="font-weight:normal;font-style:normal;width:auto"> <div> <div> <div> <div> <div style="text-align:justify;line-height:1.25"> <div style="line-height:1.25"> <div style="line-height:1.25"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">If quoted market prices are not available, or the prices of securities are derived from various sources, and do not necessarily represent the prices at which these securities could have been bought or sold, the Company obtains fair value measurements of these securities or of similar assets and liabilities from an independent pricing service. These securities are reported using Level 2 inputs and the fair value measurements consider observable data that may include dealer quotes, market spreads, cash flows, U.S. government and agency yield curves, live trading levels, trade execution data, market consensus prepayment speeds, credit information, and the security’s terms and conditions, among other factors.</span></span></div> <div style="text-indent:0.3pt;margin-left:78pt;line-height:1.25"> </div> <div style="line-height:1.25"> <div style="line-height:1.25"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">For cross-currency swap and derivatives measured under Level 2, the Company uses the market approach using quotations from banks and other public information.</span></span></div> </div> </div> </div> </div> </div> </div> </div> </td> </tr> </table> <div style="line-height:1.25"> <div style="line-height:1.25"> <div style="line-height:1.25"> <div style="line-height:1.25"> <div> <div style="line-height:1.25"> <table border="0" cellpadding="0" cellspacing="0" style="font-family:'Times New Roman', Times, serif;font-size:10pt;color:#000000;width:100%"> <tr> <td style="width:56pt"> <div> </div> </td> <td style="font-weight:bold;width:22pt"> </td> <td style="font-weight:bold;font-style:italic;width:auto"> <div> <div style="font-weight:bold"> <div style="font-weight:bold"> <div style="font-weight:bold"> <div style="text-align:justify;line-height:1.25;font-style:italic;font-weight:bold"> <div style="line-height:1.25;font-style:italic;font-weight:bold"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">Level 3 Measurements</span></span></div> </div> </div> </div> </div> </div> </td> </tr> </table> <div style="line-height:1.25"> <div style="line-height:1.25"> <div style="line-height:1.25"> <div> <div style="line-height:1.25"> <table border="0" cellpadding="0" cellspacing="0" style="font-family:'Times New Roman', Times, serif;font-size:10pt;color:#000000;width:100%"> <tr> <td style="width:56pt"> <div> </div> </td> <td style="font-weight:bold;width:22pt"> </td> <td style="font-weight:normal;font-style:normal;width:auto"> <div> <div> <div> <div> <div style="text-align:justify;line-height:1.25"> <div style="line-height:1.25"> <div style="line-height:1.25"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">Investments in equity securities of privately-held companies without readily determinable fair values are measured using the Measurement Alternatives (see Note 2L). The Company reviews these investments for impairment and observable price changes on a quarterly basis and adjusts the carrying value accordingly. For the year ended December 31, 2025, the Company recorded a decrease of $2,354 in the value of such investments, presented in other income (expense), net in the statements of operations, and for the year ended December 31 2024, the Company did not record significant changes to the carrying value of such investments.</span></span></div> <div style="line-height:1.25"> </div> <div style="line-height:1.25"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">Recurring fair value measurements using the indicated inputs:</span></span></div> </div> </div> </div> </div> </div> </div> </td> </tr> </table> <p style="margin:0pt"> </p> </div> </div> </div> </div> </div> </div> </div> </div> </div> </div> </div> </div> </div> </div> </div> </div> </div> </div> </div> </div> </div> </div> </div> </div> </div> </div> </div> <div> <div style="margin-left:99pt"> <table border="0" cellpadding="0" cellspacing="0" style="color:#000000;font-family:'Times New Roman',Times,serif;font-size:10pt;text-align:left;width:85%"> <tr> <td style="vertical-align:bottom;padding-bottom:2px"> <div style="line-height:1.25"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">Details</span></span></div> </td> <td colspan="1" style="vertical-align:bottom;padding-bottom:2px;vertical-align:bottom"> </td> <td colspan="2" style="vertical-align:bottom;border-bottom:2px solid rgb(0, 0, 0);text-align:center"> <div style="line-height:1.25"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">December 31, 2025</span></span></div> </td> <td colspan="1" style="text-align:center;vertical-align:bottom;padding-bottom:2px;white-space:nowrap"> </td> <td colspan="1" style="vertical-align:bottom;padding-bottom:2px;text-align:center"> </td> <td colspan="2" style="vertical-align:bottom;border-bottom:2px solid rgb(0, 0, 0);text-align:center"> <div style="line-height:1.25"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">Quoted prices in active market</span></span></div> <div style="line-height:1.25"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">(Level 1)</span></span></div> </td> <td colspan="1" style="text-align:center;vertical-align:bottom;padding-bottom:2px;white-space:nowrap"> </td> <td colspan="1" style="vertical-align:bottom;padding-bottom:2px;text-align:center"> </td> <td colspan="2" style="vertical-align:bottom;border-bottom:2px solid rgb(0, 0, 0);text-align:center"> <div style="line-height:1.25"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">Significant other observable inputs</span></span></div> <div style="line-height:1.25"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">(Level 2)</span></span></div> </td> <td colspan="1" style="text-align:center;vertical-align:bottom;padding-bottom:2px;white-space:nowrap"> </td> <td colspan="1" style="vertical-align:bottom;padding-bottom:2px;text-align:center"> </td> <td colspan="2" style="vertical-align:bottom;border-bottom:2px solid rgb(0, 0, 0);text-align:center"> <div style="line-height:1.25"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">Significant unobservable inputs</span></span></div> <div style="line-height:1.25"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">(Level 3)</span></span></div> </td> <td colspan="1" style="vertical-align:bottom;padding-bottom:2px;vertical-align:bottom;white-space:nowrap"> </td> </tr> <tr> <td style="vertical-align:middle;width:52%;background-color:rgb(204, 238, 255);vertical-align:bottom"> <div style="line-height:1.25"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">Privately held companies</span></span></div> </td> <td colspan="1" style="vertical-align:bottom;width:1%;background-color:rgb(204, 238, 255);vertical-align:bottom"> </td> <td colspan="1" style="vertical-align:bottom;width:1%;background-color:rgb(204, 238, 255);vertical-align:bottom"> <div style="line-height:1.25"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">$</span></span></div> </td> <td colspan="1" style="vertical-align:bottom;text-align:right;width:9%;background-color:rgb(204, 238, 255);vertical-align:bottom"> <div style="line-height:1.25">4,427</div> </td> <td colspan="1" style="vertical-align:bottom;width:1%;background-color:rgb(204, 238, 255);vertical-align:bottom;white-space:nowrap"> </td> <td colspan="1" style="vertical-align:bottom;width:1%;background-color:rgb(204, 238, 255);vertical-align:bottom"> </td> <td colspan="1" style="vertical-align:bottom;width:1%;background-color:rgb(204, 238, 255);vertical-align:bottom"> <div style="line-height:1.25"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">$</span></span></div> </td> <td colspan="1" style="vertical-align:bottom;text-align:right;width:9%;background-color:rgb(204, 238, 255);vertical-align:bottom"> <div style="line-height:1.25">-</div> </td> <td colspan="1" style="vertical-align:bottom;width:1%;background-color:rgb(204, 238, 255);vertical-align:bottom;white-space:nowrap"> </td> <td colspan="1" style="vertical-align:bottom;width:1%;background-color:rgb(204, 238, 255);vertical-align:bottom"> </td> <td colspan="1" style="vertical-align:bottom;width:1%;background-color:rgb(204, 238, 255);vertical-align:bottom"> <div style="line-height:1.25"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">$</span></span></div> </td> <td colspan="1" style="vertical-align:bottom;text-align:right;width:9%;background-color:rgb(204, 238, 255);vertical-align:bottom"> <div style="line-height:1.25">-</div> </td> <td colspan="1" style="vertical-align:bottom;width:1%;background-color:rgb(204, 238, 255);vertical-align:bottom;white-space:nowrap"> </td> <td colspan="1" style="vertical-align:bottom;width:1%;background-color:rgb(204, 238, 255);vertical-align:bottom"> </td> <td colspan="1" style="vertical-align:bottom;width:1%;background-color:rgb(204, 238, 255);vertical-align:bottom"> <div style="line-height:1.25"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">$</span></span></div> </td> <td colspan="1" style="vertical-align:bottom;text-align:right;width:9%;background-color:rgb(204, 238, 255);vertical-align:bottom"> <div style="line-height:1.25">4,427</div> </td> <td colspan="1" style="vertical-align:bottom;width:1%;background-color:rgb(204, 238, 255);vertical-align:bottom;white-space:nowrap"> </td> </tr> <tr> <td style="vertical-align:middle;width:52%;padding-bottom:2px;vertical-align:bottom"> <div style="line-height:1.25"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">Foreign exchange forward and cylinders - net asset position</span></span></div> </td> <td colspan="1" style="vertical-align:bottom;width:1%;padding-bottom:2px;vertical-align:bottom"> </td> <td colspan="1" style="vertical-align:bottom;width:1%;border-bottom:2px solid rgb(0, 0, 0);vertical-align:bottom"> </td> <td colspan="1" style="vertical-align:bottom;text-align:right;width:9%;border-bottom:2px solid rgb(0, 0, 0);vertical-align:bottom"> <div style="line-height:1.25">9,618</div> </td> <td colspan="1" style="vertical-align:bottom;width:1%;padding-bottom:2px;vertical-align:bottom;white-space:nowrap"> </td> <td colspan="1" style="vertical-align:bottom;width:1%;padding-bottom:2px;vertical-align:bottom"> </td> <td colspan="1" style="vertical-align:bottom;width:1%;border-bottom:2px solid rgb(0, 0, 0);vertical-align:bottom"> </td> <td colspan="1" style="vertical-align:bottom;text-align:right;width:9%;border-bottom:2px solid rgb(0, 0, 0);vertical-align:bottom"> <div style="line-height:1.25">-</div> </td> <td colspan="1" style="vertical-align:bottom;width:1%;padding-bottom:2px;vertical-align:bottom;white-space:nowrap"> </td> <td colspan="1" style="vertical-align:bottom;width:1%;padding-bottom:2px;vertical-align:bottom"> </td> <td colspan="1" style="vertical-align:bottom;width:1%;border-bottom:2px solid rgb(0, 0, 0);vertical-align:bottom"> </td> <td colspan="1" style="vertical-align:bottom;text-align:right;width:9%;border-bottom:2px solid rgb(0, 0, 0);vertical-align:bottom"> <div style="line-height:1.25">9,618</div> </td> <td colspan="1" style="vertical-align:bottom;width:1%;padding-bottom:2px;vertical-align:bottom;white-space:nowrap"> </td> <td colspan="1" style="vertical-align:bottom;width:1%;padding-bottom:2px;vertical-align:bottom"> </td> <td colspan="1" style="vertical-align:bottom;width:1%;border-bottom:2px solid rgb(0, 0, 0);vertical-align:bottom"> </td> <td colspan="1" style="vertical-align:bottom;text-align:right;width:9%;border-bottom:2px solid rgb(0, 0, 0);vertical-align:bottom"> <div style="line-height:1.25">-</div> </td> <td colspan="1" style="vertical-align:bottom;width:1%;padding-bottom:2px;vertical-align:bottom;white-space:nowrap"> </td> </tr> <tr> <td style="vertical-align:middle;width:52%;padding-bottom:4px;background-color:rgb(204, 238, 255);vertical-align:bottom"> </td> <td colspan="1" style="vertical-align:bottom;width:1%;padding-bottom:4px;background-color:rgb(204, 238, 255);vertical-align:bottom"> </td> <td colspan="1" style="vertical-align:bottom;width:1%;border-bottom:4px double rgb(0, 0, 0);background-color:rgb(204, 238, 255);vertical-align:bottom"> <div style="line-height:1.25"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">$</span></span></div> </td> <td colspan="1" style="vertical-align:bottom;text-align:right;width:9%;border-bottom:4px double rgb(0, 0, 0);background-color:rgb(204, 238, 255);vertical-align:bottom"> <div style="line-height:1.25">14,045</div> </td> <td colspan="1" style="vertical-align:bottom;width:1%;padding-bottom:4px;background-color:rgb(204, 238, 255);vertical-align:bottom;white-space:nowrap"> </td> <td colspan="1" style="vertical-align:bottom;width:1%;padding-bottom:4px;background-color:rgb(204, 238, 255);vertical-align:bottom"> </td> <td colspan="1" style="vertical-align:bottom;width:1%;border-bottom:4px double rgb(0, 0, 0);background-color:rgb(204, 238, 255);vertical-align:bottom"> <div style="line-height:1.25"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">$</span></span></div> </td> <td colspan="1" style="vertical-align:bottom;text-align:right;width:9%;border-bottom:4px double rgb(0, 0, 0);background-color:rgb(204, 238, 255);vertical-align:bottom"> <div style="line-height:1.25">-</div> </td> <td colspan="1" style="vertical-align:bottom;width:1%;padding-bottom:4px;background-color:rgb(204, 238, 255);vertical-align:bottom;white-space:nowrap"> </td> <td colspan="1" style="vertical-align:bottom;width:1%;padding-bottom:4px;background-color:rgb(204, 238, 255);vertical-align:bottom"> </td> <td colspan="1" style="vertical-align:bottom;width:1%;border-bottom:4px double rgb(0, 0, 0);background-color:rgb(204, 238, 255);vertical-align:bottom"> <div style="line-height:1.25"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">$</span></span></div> </td> <td colspan="1" style="vertical-align:bottom;text-align:right;width:9%;border-bottom:4px double rgb(0, 0, 0);background-color:rgb(204, 238, 255);vertical-align:bottom"> <div style="line-height:1.25">9,618</div> </td> <td colspan="1" style="vertical-align:bottom;width:1%;padding-bottom:4px;background-color:rgb(204, 238, 255);vertical-align:bottom;white-space:nowrap"> </td> <td colspan="1" style="vertical-align:bottom;width:1%;padding-bottom:4px;background-color:rgb(204, 238, 255);vertical-align:bottom"> </td> <td colspan="1" style="vertical-align:bottom;width:1%;border-bottom:4px double rgb(0, 0, 0);background-color:rgb(204, 238, 255);vertical-align:bottom"> <div style="line-height:1.25"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">$</span></span></div> </td> <td colspan="1" style="vertical-align:bottom;text-align:right;width:9%;border-bottom:4px double rgb(0, 0, 0);background-color:rgb(204, 238, 255);vertical-align:bottom"> <div style="line-height:1.25">4,427</div> </td> <td colspan="1" style="vertical-align:bottom;width:1%;padding-bottom:4px;background-color:rgb(204, 238, 255);vertical-align:bottom;white-space:nowrap"> </td> </tr> </table> </div> <div style="line-height:1.25;clear:both"> </div> <div style="margin-left:99pt"> <table border="0" cellpadding="0" cellspacing="0" style="color:#000000;font-family:'Times New Roman',Times,serif;font-size:10pt;text-align:left;width:85%"> <tr> <td style="vertical-align:bottom;padding-bottom:2px"> <div style="line-height:1.25"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">Details</span></span></div> </td> <td colspan="1" style="vertical-align:bottom;padding-bottom:2px;vertical-align:bottom"> </td> <td colspan="2" style="vertical-align:bottom;border-bottom:2px solid rgb(0, 0, 0);text-align:center"> <div style="line-height:1.25"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">December 31, 2024</span></span></div> </td> <td colspan="1" style="text-align:center;vertical-align:bottom;padding-bottom:2px;white-space:nowrap"> </td> <td colspan="1" style="vertical-align:bottom;padding-bottom:2px;text-align:center"> </td> <td colspan="2" style="vertical-align:bottom;border-bottom:2px solid rgb(0, 0, 0);text-align:center"> <div style="line-height:1.25"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">Quoted prices in active market</span></span></div> <div style="line-height:1.25"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">(Level 1)</span></span></div> </td> <td colspan="1" style="text-align:center;vertical-align:bottom;padding-bottom:2px;white-space:nowrap"> </td> <td colspan="1" style="vertical-align:bottom;padding-bottom:2px;text-align:center"> </td> <td colspan="2" style="vertical-align:bottom;border-bottom:2px solid rgb(0, 0, 0);text-align:center"> <div style="line-height:1.25"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">Significant other observable inputs</span></span></div> <div style="line-height:1.25"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">(Level 2)</span></span></div> </td> <td colspan="1" style="text-align:center;vertical-align:bottom;padding-bottom:2px;white-space:nowrap"> </td> <td colspan="1" style="vertical-align:bottom;padding-bottom:2px;text-align:center"> </td> <td colspan="2" style="vertical-align:bottom;border-bottom:2px solid rgb(0, 0, 0);text-align:center"> <div style="line-height:1.25"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">Significant unobservable inputs</span></span></div> <div style="line-height:1.25"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">(Level 3)</span></span></div> </td> <td colspan="1" style="vertical-align:bottom;padding-bottom:2px;vertical-align:bottom;white-space:nowrap"> </td> </tr> <tr> <td style="vertical-align:middle;width:52%;background-color:rgb(204, 238, 255);vertical-align:bottom"> <div style="line-height:1.25"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">Privately held companies</span></span></div> </td> <td colspan="1" style="vertical-align:bottom;width:1%;background-color:rgb(204, 238, 255);vertical-align:bottom"> </td> <td colspan="1" style="vertical-align:bottom;width:1%;background-color:rgb(204, 238, 255);vertical-align:bottom"> <div style="line-height:1.25"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">$</span></span></div> </td> <td colspan="1" style="vertical-align:bottom;text-align:right;width:9%;background-color:rgb(204, 238, 255);vertical-align:bottom"> <div style="line-height:1.25">6,780</div> </td> <td colspan="1" style="vertical-align:bottom;width:1%;background-color:rgb(204, 238, 255);vertical-align:bottom;white-space:nowrap"> </td> <td colspan="1" style="vertical-align:bottom;width:1%;background-color:rgb(204, 238, 255);vertical-align:bottom"> </td> <td colspan="1" style="vertical-align:bottom;width:1%;background-color:rgb(204, 238, 255);vertical-align:bottom"> <div style="line-height:1.25"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">$</span></span></div> </td> <td colspan="1" style="vertical-align:bottom;text-align:right;width:9%;background-color:rgb(204, 238, 255);vertical-align:bottom"> <div style="line-height:1.25">-</div> </td> <td colspan="1" style="vertical-align:bottom;width:1%;background-color:rgb(204, 238, 255);vertical-align:bottom;white-space:nowrap"> </td> <td colspan="1" style="vertical-align:bottom;width:1%;background-color:rgb(204, 238, 255);vertical-align:bottom"> </td> <td colspan="1" style="vertical-align:bottom;width:1%;background-color:rgb(204, 238, 255);vertical-align:bottom"> <div style="line-height:1.25"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">$</span></span></div> </td> <td colspan="1" style="vertical-align:bottom;text-align:right;width:9%;background-color:rgb(204, 238, 255);vertical-align:bottom"> <div style="line-height:1.25">-</div> </td> <td colspan="1" style="vertical-align:bottom;width:1%;background-color:rgb(204, 238, 255);vertical-align:bottom;white-space:nowrap"> </td> <td colspan="1" style="vertical-align:bottom;width:1%;background-color:rgb(204, 238, 255);vertical-align:bottom"> </td> <td colspan="1" style="vertical-align:bottom;width:1%;background-color:rgb(204, 238, 255);vertical-align:bottom"> <div style="line-height:1.25"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">$</span></span></div> </td> <td colspan="1" style="vertical-align:bottom;text-align:right;width:9%;background-color:rgb(204, 238, 255);vertical-align:bottom"> <div style="line-height:1.25">6,780</div> </td> <td colspan="1" style="vertical-align:bottom;width:1%;background-color:rgb(204, 238, 255);vertical-align:bottom;white-space:nowrap"> </td> </tr> <tr> <td style="vertical-align:middle;width:52%;padding-bottom:2px;vertical-align:bottom"> <div style="line-height:1.25"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">Foreign exchange forward and cylinders - net liability position</span></span></div> </td> <td colspan="1" style="vertical-align:bottom;width:1%;padding-bottom:2px;vertical-align:bottom"> </td> <td colspan="1" style="vertical-align:bottom;width:1%;border-bottom:2px solid rgb(0, 0, 0);vertical-align:bottom"> </td> <td colspan="1" style="vertical-align:bottom;text-align:right;width:9%;border-bottom:2px solid rgb(0, 0, 0);vertical-align:bottom"> <div style="line-height:1.25">(4,302</div> </td> <td colspan="1" style="vertical-align:bottom;width:1%;padding-bottom:2px;vertical-align:bottom;white-space:nowrap"> <div style="line-height:1.25"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">)</span></span></div> </td> <td colspan="1" style="vertical-align:bottom;width:1%;padding-bottom:2px;vertical-align:bottom"> </td> <td colspan="1" style="vertical-align:bottom;width:1%;border-bottom:2px solid rgb(0, 0, 0);vertical-align:bottom"> </td> <td colspan="1" style="vertical-align:bottom;text-align:right;width:9%;border-bottom:2px solid rgb(0, 0, 0);vertical-align:bottom"> <div style="line-height:1.25">-</div> </td> <td colspan="1" style="vertical-align:bottom;width:1%;padding-bottom:2px;vertical-align:bottom;white-space:nowrap"> </td> <td colspan="1" style="vertical-align:bottom;width:1%;padding-bottom:2px;vertical-align:bottom"> </td> <td colspan="1" style="vertical-align:bottom;width:1%;border-bottom:2px solid rgb(0, 0, 0);vertical-align:bottom"> </td> <td colspan="1" style="vertical-align:bottom;text-align:right;width:9%;border-bottom:2px solid rgb(0, 0, 0);vertical-align:bottom"> <div style="line-height:1.25">(4,302</div> </td> <td colspan="1" style="vertical-align:bottom;width:1%;padding-bottom:2px;vertical-align:bottom;white-space:nowrap"> <div style="line-height:1.25"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">)</span></span></div> </td> <td colspan="1" style="vertical-align:bottom;width:1%;padding-bottom:2px;vertical-align:bottom"> </td> <td colspan="1" style="vertical-align:bottom;width:1%;border-bottom:2px solid rgb(0, 0, 0);vertical-align:bottom"> </td> <td colspan="1" style="vertical-align:bottom;text-align:right;width:9%;border-bottom:2px solid rgb(0, 0, 0);vertical-align:bottom"> <div style="line-height:1.25">-</div> </td> <td colspan="1" style="vertical-align:bottom;width:1%;padding-bottom:2px;vertical-align:bottom;white-space:nowrap"> </td> </tr> <tr> <td style="vertical-align:middle;width:52%;padding-bottom:4px;background-color:rgb(204, 238, 255);vertical-align:bottom"> </td> <td colspan="1" style="vertical-align:bottom;width:1%;padding-bottom:4px;background-color:rgb(204, 238, 255);vertical-align:bottom"> </td> <td colspan="1" style="vertical-align:bottom;width:1%;border-bottom:4px double rgb(0, 0, 0);background-color:rgb(204, 238, 255);vertical-align:bottom"> <div style="line-height:1.25"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">$</span></span></div> </td> <td colspan="1" style="vertical-align:bottom;text-align:right;width:9%;border-bottom:4px double rgb(0, 0, 0);background-color:rgb(204, 238, 255);vertical-align:bottom"> <div style="line-height:1.25">2,478</div> </td> <td colspan="1" style="vertical-align:bottom;width:1%;padding-bottom:4px;background-color:rgb(204, 238, 255);vertical-align:bottom;white-space:nowrap"> </td> <td colspan="1" style="vertical-align:bottom;width:1%;padding-bottom:4px;background-color:rgb(204, 238, 255);vertical-align:bottom"> </td> <td colspan="1" style="vertical-align:bottom;width:1%;border-bottom:4px double rgb(0, 0, 0);background-color:rgb(204, 238, 255);vertical-align:bottom"> <div style="line-height:1.25"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">$</span></span></div> </td> <td colspan="1" style="vertical-align:bottom;text-align:right;width:9%;border-bottom:4px double rgb(0, 0, 0);background-color:rgb(204, 238, 255);vertical-align:bottom"> <div style="line-height:1.25">-</div> </td> <td colspan="1" style="vertical-align:bottom;width:1%;padding-bottom:4px;background-color:rgb(204, 238, 255);vertical-align:bottom;white-space:nowrap"> </td> <td colspan="1" style="vertical-align:bottom;width:1%;padding-bottom:4px;background-color:rgb(204, 238, 255);vertical-align:bottom"> </td> <td colspan="1" style="vertical-align:bottom;width:1%;border-bottom:4px double rgb(0, 0, 0);background-color:rgb(204, 238, 255);vertical-align:bottom"> <div style="line-height:1.25"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">$</span></span></div> </td> <td colspan="1" style="vertical-align:bottom;text-align:right;width:9%;border-bottom:4px double rgb(0, 0, 0);background-color:rgb(204, 238, 255);vertical-align:bottom"> <div style="line-height:1.25">(4,302</div> </td> <td colspan="1" style="vertical-align:bottom;width:1%;padding-bottom:4px;background-color:rgb(204, 238, 255);vertical-align:bottom;white-space:nowrap"> <div style="line-height:1.25"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">)</span></span></div> </td> <td colspan="1" style="vertical-align:bottom;width:1%;padding-bottom:4px;background-color:rgb(204, 238, 255);vertical-align:bottom"> </td> <td colspan="1" style="vertical-align:bottom;width:1%;border-bottom:4px double rgb(0, 0, 0);background-color:rgb(204, 238, 255);vertical-align:bottom"> <div style="line-height:1.25"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">$</span></span></div> </td> <td colspan="1" style="vertical-align:bottom;text-align:right;width:9%;border-bottom:4px double rgb(0, 0, 0);background-color:rgb(204, 238, 255);vertical-align:bottom"> <div style="line-height:1.25">6,780</div> </td> <td colspan="1" style="vertical-align:bottom;width:1%;padding-bottom:4px;background-color:rgb(204, 238, 255);vertical-align:bottom;white-space:nowrap"> </td> </tr> </table> </div> </div> <p style="margin-top:0pt;margin-bottom:0pt;font-family:Times New Roman,Times,serif;text-align:left;font-size:10pt"> </p> <div style="margin-top:0px;margin-bottom:0px"></div> <div style="line-height:1.25"> <div style="line-height:1.25"> <div style="text-align:justify;line-height:1.25"> <div style="line-height:1.25"> <div style="line-height:1.25"> <div style="line-height:1.25"> <div style="line-height:1.25"> <div style="line-height:1.25"> <div style="line-height:1.25"> <div style="line-height:1.25"> <div> <div style="line-height:1.25"> <table border="0" cellpadding="0" cellspacing="0" style="font-family:'Times New Roman', Times, serif;font-size:10pt;color:#000000;width:100%"> <tr> <td style="width:56pt"> <div> </div> </td> <td style="font-weight:bold;width:22pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">E.</span></span></td> <td style="font-weight:bold;width:auto"> <div> <div style="font-weight:bold"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span style="font-weight:bold">Short-Term Deposits</span></span></span></div> </div> </td> </tr> </table> <div style="line-height:1.25"> <div style="line-height:1.25"> <div> <div style="line-height:1.25"> <table border="0" cellpadding="0" cellspacing="0" style="font-family:'Times New Roman', Times, serif;font-size:10pt;color:#000000;width:100%"> <tr> <td style="width:56pt"> <div> </div> </td> <td style="font-weight:bold;width:22pt"> </td> <td style="font-weight:normal;width:auto"> <div> <div> <div style="text-align:justify;line-height:1.25"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">Short-term deposits amounted to $916,541 and $946,351, as of December 31, 2025 and December 31, 2024, respectively.</span></span></div> </div> </div> </td> </tr> </table> </div> </div> </div> </div> </div> </div> </div> </div> </div> </div> </div> </div> </div> </div> </div> </div> </div> 13540000 768000 156000000 156000000 6996000 4806000 2190000 4261000 243000000 186000000 923000 809000 48000000 39600000 2354000 <div> <div style="margin-left:99pt"> <table border="0" cellpadding="0" cellspacing="0" style="color:#000000;font-family:'Times New Roman',Times,serif;font-size:10pt;text-align:left;width:85%"> <tr> <td style="vertical-align:bottom;padding-bottom:2px"> <div style="line-height:1.25"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">Details</span></span></div> </td> <td colspan="1" style="vertical-align:bottom;padding-bottom:2px;vertical-align:bottom"> </td> <td colspan="2" style="vertical-align:bottom;border-bottom:2px solid rgb(0, 0, 0);text-align:center"> <div style="line-height:1.25"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">December 31, 2025</span></span></div> </td> <td colspan="1" style="text-align:center;vertical-align:bottom;padding-bottom:2px;white-space:nowrap"> </td> <td colspan="1" style="vertical-align:bottom;padding-bottom:2px;text-align:center"> </td> <td colspan="2" style="vertical-align:bottom;border-bottom:2px solid rgb(0, 0, 0);text-align:center"> <div style="line-height:1.25"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">Quoted prices in active market</span></span></div> <div style="line-height:1.25"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">(Level 1)</span></span></div> </td> <td colspan="1" style="text-align:center;vertical-align:bottom;padding-bottom:2px;white-space:nowrap"> </td> <td colspan="1" style="vertical-align:bottom;padding-bottom:2px;text-align:center"> </td> <td colspan="2" style="vertical-align:bottom;border-bottom:2px solid rgb(0, 0, 0);text-align:center"> <div style="line-height:1.25"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">Significant other observable inputs</span></span></div> <div style="line-height:1.25"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">(Level 2)</span></span></div> </td> <td colspan="1" style="text-align:center;vertical-align:bottom;padding-bottom:2px;white-space:nowrap"> </td> <td colspan="1" style="vertical-align:bottom;padding-bottom:2px;text-align:center"> </td> <td colspan="2" style="vertical-align:bottom;border-bottom:2px solid rgb(0, 0, 0);text-align:center"> <div style="line-height:1.25"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">Significant unobservable inputs</span></span></div> <div style="line-height:1.25"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">(Level 3)</span></span></div> </td> <td colspan="1" style="vertical-align:bottom;padding-bottom:2px;vertical-align:bottom;white-space:nowrap"> </td> </tr> <tr> <td style="vertical-align:middle;width:52%;background-color:rgb(204, 238, 255);vertical-align:bottom"> <div style="line-height:1.25"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">Privately held companies</span></span></div> </td> <td colspan="1" style="vertical-align:bottom;width:1%;background-color:rgb(204, 238, 255);vertical-align:bottom"> </td> <td colspan="1" style="vertical-align:bottom;width:1%;background-color:rgb(204, 238, 255);vertical-align:bottom"> <div style="line-height:1.25"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">$</span></span></div> </td> <td colspan="1" style="vertical-align:bottom;text-align:right;width:9%;background-color:rgb(204, 238, 255);vertical-align:bottom"> <div style="line-height:1.25">4,427</div> </td> <td colspan="1" style="vertical-align:bottom;width:1%;background-color:rgb(204, 238, 255);vertical-align:bottom;white-space:nowrap"> </td> <td colspan="1" style="vertical-align:bottom;width:1%;background-color:rgb(204, 238, 255);vertical-align:bottom"> </td> <td colspan="1" style="vertical-align:bottom;width:1%;background-color:rgb(204, 238, 255);vertical-align:bottom"> <div style="line-height:1.25"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">$</span></span></div> </td> <td colspan="1" style="vertical-align:bottom;text-align:right;width:9%;background-color:rgb(204, 238, 255);vertical-align:bottom"> <div style="line-height:1.25">-</div> </td> <td colspan="1" style="vertical-align:bottom;width:1%;background-color:rgb(204, 238, 255);vertical-align:bottom;white-space:nowrap"> </td> <td colspan="1" style="vertical-align:bottom;width:1%;background-color:rgb(204, 238, 255);vertical-align:bottom"> </td> <td colspan="1" style="vertical-align:bottom;width:1%;background-color:rgb(204, 238, 255);vertical-align:bottom"> <div style="line-height:1.25"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">$</span></span></div> </td> <td colspan="1" style="vertical-align:bottom;text-align:right;width:9%;background-color:rgb(204, 238, 255);vertical-align:bottom"> <div style="line-height:1.25">-</div> </td> <td colspan="1" style="vertical-align:bottom;width:1%;background-color:rgb(204, 238, 255);vertical-align:bottom;white-space:nowrap"> </td> <td colspan="1" style="vertical-align:bottom;width:1%;background-color:rgb(204, 238, 255);vertical-align:bottom"> </td> <td colspan="1" style="vertical-align:bottom;width:1%;background-color:rgb(204, 238, 255);vertical-align:bottom"> <div style="line-height:1.25"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">$</span></span></div> </td> <td colspan="1" style="vertical-align:bottom;text-align:right;width:9%;background-color:rgb(204, 238, 255);vertical-align:bottom"> <div style="line-height:1.25">4,427</div> </td> <td colspan="1" style="vertical-align:bottom;width:1%;background-color:rgb(204, 238, 255);vertical-align:bottom;white-space:nowrap"> </td> </tr> <tr> <td style="vertical-align:middle;width:52%;padding-bottom:2px;vertical-align:bottom"> <div style="line-height:1.25"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">Foreign exchange forward and cylinders - net asset position</span></span></div> </td> <td colspan="1" style="vertical-align:bottom;width:1%;padding-bottom:2px;vertical-align:bottom"> </td> <td colspan="1" style="vertical-align:bottom;width:1%;border-bottom:2px solid rgb(0, 0, 0);vertical-align:bottom"> </td> <td colspan="1" style="vertical-align:bottom;text-align:right;width:9%;border-bottom:2px solid rgb(0, 0, 0);vertical-align:bottom"> <div style="line-height:1.25">9,618</div> </td> <td colspan="1" style="vertical-align:bottom;width:1%;padding-bottom:2px;vertical-align:bottom;white-space:nowrap"> </td> <td colspan="1" style="vertical-align:bottom;width:1%;padding-bottom:2px;vertical-align:bottom"> </td> <td colspan="1" style="vertical-align:bottom;width:1%;border-bottom:2px solid rgb(0, 0, 0);vertical-align:bottom"> </td> <td colspan="1" style="vertical-align:bottom;text-align:right;width:9%;border-bottom:2px solid rgb(0, 0, 0);vertical-align:bottom"> <div style="line-height:1.25">-</div> </td> <td colspan="1" style="vertical-align:bottom;width:1%;padding-bottom:2px;vertical-align:bottom;white-space:nowrap"> </td> <td colspan="1" style="vertical-align:bottom;width:1%;padding-bottom:2px;vertical-align:bottom"> </td> <td colspan="1" style="vertical-align:bottom;width:1%;border-bottom:2px solid rgb(0, 0, 0);vertical-align:bottom"> </td> <td colspan="1" style="vertical-align:bottom;text-align:right;width:9%;border-bottom:2px solid rgb(0, 0, 0);vertical-align:bottom"> <div style="line-height:1.25">9,618</div> </td> <td colspan="1" style="vertical-align:bottom;width:1%;padding-bottom:2px;vertical-align:bottom;white-space:nowrap"> </td> <td colspan="1" style="vertical-align:bottom;width:1%;padding-bottom:2px;vertical-align:bottom"> </td> <td colspan="1" style="vertical-align:bottom;width:1%;border-bottom:2px solid rgb(0, 0, 0);vertical-align:bottom"> </td> <td colspan="1" style="vertical-align:bottom;text-align:right;width:9%;border-bottom:2px solid rgb(0, 0, 0);vertical-align:bottom"> <div style="line-height:1.25">-</div> </td> <td colspan="1" style="vertical-align:bottom;width:1%;padding-bottom:2px;vertical-align:bottom;white-space:nowrap"> </td> </tr> <tr> <td style="vertical-align:middle;width:52%;padding-bottom:4px;background-color:rgb(204, 238, 255);vertical-align:bottom"> </td> <td colspan="1" style="vertical-align:bottom;width:1%;padding-bottom:4px;background-color:rgb(204, 238, 255);vertical-align:bottom"> </td> <td colspan="1" style="vertical-align:bottom;width:1%;border-bottom:4px double rgb(0, 0, 0);background-color:rgb(204, 238, 255);vertical-align:bottom"> <div style="line-height:1.25"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">$</span></span></div> </td> <td colspan="1" style="vertical-align:bottom;text-align:right;width:9%;border-bottom:4px double rgb(0, 0, 0);background-color:rgb(204, 238, 255);vertical-align:bottom"> <div style="line-height:1.25">14,045</div> </td> <td colspan="1" style="vertical-align:bottom;width:1%;padding-bottom:4px;background-color:rgb(204, 238, 255);vertical-align:bottom;white-space:nowrap"> </td> <td colspan="1" style="vertical-align:bottom;width:1%;padding-bottom:4px;background-color:rgb(204, 238, 255);vertical-align:bottom"> </td> <td colspan="1" style="vertical-align:bottom;width:1%;border-bottom:4px double rgb(0, 0, 0);background-color:rgb(204, 238, 255);vertical-align:bottom"> <div style="line-height:1.25"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">$</span></span></div> </td> <td colspan="1" style="vertical-align:bottom;text-align:right;width:9%;border-bottom:4px double rgb(0, 0, 0);background-color:rgb(204, 238, 255);vertical-align:bottom"> <div style="line-height:1.25">-</div> </td> <td colspan="1" style="vertical-align:bottom;width:1%;padding-bottom:4px;background-color:rgb(204, 238, 255);vertical-align:bottom;white-space:nowrap"> </td> <td colspan="1" style="vertical-align:bottom;width:1%;padding-bottom:4px;background-color:rgb(204, 238, 255);vertical-align:bottom"> </td> <td colspan="1" style="vertical-align:bottom;width:1%;border-bottom:4px double rgb(0, 0, 0);background-color:rgb(204, 238, 255);vertical-align:bottom"> <div style="line-height:1.25"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">$</span></span></div> </td> <td colspan="1" style="vertical-align:bottom;text-align:right;width:9%;border-bottom:4px double rgb(0, 0, 0);background-color:rgb(204, 238, 255);vertical-align:bottom"> <div style="line-height:1.25">9,618</div> </td> <td colspan="1" style="vertical-align:bottom;width:1%;padding-bottom:4px;background-color:rgb(204, 238, 255);vertical-align:bottom;white-space:nowrap"> </td> <td colspan="1" style="vertical-align:bottom;width:1%;padding-bottom:4px;background-color:rgb(204, 238, 255);vertical-align:bottom"> </td> <td colspan="1" style="vertical-align:bottom;width:1%;border-bottom:4px double rgb(0, 0, 0);background-color:rgb(204, 238, 255);vertical-align:bottom"> <div style="line-height:1.25"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">$</span></span></div> </td> <td colspan="1" style="vertical-align:bottom;text-align:right;width:9%;border-bottom:4px double rgb(0, 0, 0);background-color:rgb(204, 238, 255);vertical-align:bottom"> <div style="line-height:1.25">4,427</div> </td> <td colspan="1" style="vertical-align:bottom;width:1%;padding-bottom:4px;background-color:rgb(204, 238, 255);vertical-align:bottom;white-space:nowrap"> </td> </tr> </table> </div> <div style="line-height:1.25;clear:both"> </div> <div style="margin-left:99pt"> <table border="0" cellpadding="0" cellspacing="0" style="color:#000000;font-family:'Times New Roman',Times,serif;font-size:10pt;text-align:left;width:85%"> <tr> <td style="vertical-align:bottom;padding-bottom:2px"> <div style="line-height:1.25"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">Details</span></span></div> </td> <td colspan="1" style="vertical-align:bottom;padding-bottom:2px;vertical-align:bottom"> </td> <td colspan="2" style="vertical-align:bottom;border-bottom:2px solid rgb(0, 0, 0);text-align:center"> <div style="line-height:1.25"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">December 31, 2024</span></span></div> </td> <td colspan="1" style="text-align:center;vertical-align:bottom;padding-bottom:2px;white-space:nowrap"> </td> <td colspan="1" style="vertical-align:bottom;padding-bottom:2px;text-align:center"> </td> <td colspan="2" style="vertical-align:bottom;border-bottom:2px solid rgb(0, 0, 0);text-align:center"> <div style="line-height:1.25"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">Quoted prices in active market</span></span></div> <div style="line-height:1.25"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">(Level 1)</span></span></div> </td> <td colspan="1" style="text-align:center;vertical-align:bottom;padding-bottom:2px;white-space:nowrap"> </td> <td colspan="1" style="vertical-align:bottom;padding-bottom:2px;text-align:center"> </td> <td colspan="2" style="vertical-align:bottom;border-bottom:2px solid rgb(0, 0, 0);text-align:center"> <div style="line-height:1.25"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">Significant other observable inputs</span></span></div> <div style="line-height:1.25"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">(Level 2)</span></span></div> </td> <td colspan="1" style="text-align:center;vertical-align:bottom;padding-bottom:2px;white-space:nowrap"> </td> <td colspan="1" style="vertical-align:bottom;padding-bottom:2px;text-align:center"> </td> <td colspan="2" style="vertical-align:bottom;border-bottom:2px solid rgb(0, 0, 0);text-align:center"> <div style="line-height:1.25"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">Significant unobservable inputs</span></span></div> <div style="line-height:1.25"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">(Level 3)</span></span></div> </td> <td colspan="1" style="vertical-align:bottom;padding-bottom:2px;vertical-align:bottom;white-space:nowrap"> </td> </tr> <tr> <td style="vertical-align:middle;width:52%;background-color:rgb(204, 238, 255);vertical-align:bottom"> <div style="line-height:1.25"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">Privately held companies</span></span></div> </td> <td colspan="1" style="vertical-align:bottom;width:1%;background-color:rgb(204, 238, 255);vertical-align:bottom"> </td> <td colspan="1" style="vertical-align:bottom;width:1%;background-color:rgb(204, 238, 255);vertical-align:bottom"> <div style="line-height:1.25"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">$</span></span></div> </td> <td colspan="1" style="vertical-align:bottom;text-align:right;width:9%;background-color:rgb(204, 238, 255);vertical-align:bottom"> <div style="line-height:1.25">6,780</div> </td> <td colspan="1" style="vertical-align:bottom;width:1%;background-color:rgb(204, 238, 255);vertical-align:bottom;white-space:nowrap"> </td> <td colspan="1" style="vertical-align:bottom;width:1%;background-color:rgb(204, 238, 255);vertical-align:bottom"> </td> <td colspan="1" style="vertical-align:bottom;width:1%;background-color:rgb(204, 238, 255);vertical-align:bottom"> <div style="line-height:1.25"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">$</span></span></div> </td> <td colspan="1" style="vertical-align:bottom;text-align:right;width:9%;background-color:rgb(204, 238, 255);vertical-align:bottom"> <div style="line-height:1.25">-</div> </td> <td colspan="1" style="vertical-align:bottom;width:1%;background-color:rgb(204, 238, 255);vertical-align:bottom;white-space:nowrap"> </td> <td colspan="1" style="vertical-align:bottom;width:1%;background-color:rgb(204, 238, 255);vertical-align:bottom"> </td> <td colspan="1" style="vertical-align:bottom;width:1%;background-color:rgb(204, 238, 255);vertical-align:bottom"> <div style="line-height:1.25"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">$</span></span></div> </td> <td colspan="1" style="vertical-align:bottom;text-align:right;width:9%;background-color:rgb(204, 238, 255);vertical-align:bottom"> <div style="line-height:1.25">-</div> </td> <td colspan="1" style="vertical-align:bottom;width:1%;background-color:rgb(204, 238, 255);vertical-align:bottom;white-space:nowrap"> </td> <td colspan="1" style="vertical-align:bottom;width:1%;background-color:rgb(204, 238, 255);vertical-align:bottom"> </td> <td colspan="1" style="vertical-align:bottom;width:1%;background-color:rgb(204, 238, 255);vertical-align:bottom"> <div style="line-height:1.25"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">$</span></span></div> </td> <td colspan="1" style="vertical-align:bottom;text-align:right;width:9%;background-color:rgb(204, 238, 255);vertical-align:bottom"> <div style="line-height:1.25">6,780</div> </td> <td colspan="1" style="vertical-align:bottom;width:1%;background-color:rgb(204, 238, 255);vertical-align:bottom;white-space:nowrap"> </td> </tr> <tr> <td style="vertical-align:middle;width:52%;padding-bottom:2px;vertical-align:bottom"> <div style="line-height:1.25"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">Foreign exchange forward and cylinders - net liability position</span></span></div> </td> <td colspan="1" style="vertical-align:bottom;width:1%;padding-bottom:2px;vertical-align:bottom"> </td> <td colspan="1" style="vertical-align:bottom;width:1%;border-bottom:2px solid rgb(0, 0, 0);vertical-align:bottom"> </td> <td colspan="1" style="vertical-align:bottom;text-align:right;width:9%;border-bottom:2px solid rgb(0, 0, 0);vertical-align:bottom"> <div style="line-height:1.25">(4,302</div> </td> <td colspan="1" style="vertical-align:bottom;width:1%;padding-bottom:2px;vertical-align:bottom;white-space:nowrap"> <div style="line-height:1.25"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">)</span></span></div> </td> <td colspan="1" style="vertical-align:bottom;width:1%;padding-bottom:2px;vertical-align:bottom"> </td> <td colspan="1" style="vertical-align:bottom;width:1%;border-bottom:2px solid rgb(0, 0, 0);vertical-align:bottom"> </td> <td colspan="1" style="vertical-align:bottom;text-align:right;width:9%;border-bottom:2px solid rgb(0, 0, 0);vertical-align:bottom"> <div style="line-height:1.25">-</div> </td> <td colspan="1" style="vertical-align:bottom;width:1%;padding-bottom:2px;vertical-align:bottom;white-space:nowrap"> </td> <td colspan="1" style="vertical-align:bottom;width:1%;padding-bottom:2px;vertical-align:bottom"> </td> <td colspan="1" style="vertical-align:bottom;width:1%;border-bottom:2px solid rgb(0, 0, 0);vertical-align:bottom"> </td> <td colspan="1" style="vertical-align:bottom;text-align:right;width:9%;border-bottom:2px solid rgb(0, 0, 0);vertical-align:bottom"> <div style="line-height:1.25">(4,302</div> </td> <td colspan="1" style="vertical-align:bottom;width:1%;padding-bottom:2px;vertical-align:bottom;white-space:nowrap"> <div style="line-height:1.25"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">)</span></span></div> </td> <td colspan="1" style="vertical-align:bottom;width:1%;padding-bottom:2px;vertical-align:bottom"> </td> <td colspan="1" style="vertical-align:bottom;width:1%;border-bottom:2px solid rgb(0, 0, 0);vertical-align:bottom"> </td> <td colspan="1" style="vertical-align:bottom;text-align:right;width:9%;border-bottom:2px solid rgb(0, 0, 0);vertical-align:bottom"> <div style="line-height:1.25">-</div> </td> <td colspan="1" style="vertical-align:bottom;width:1%;padding-bottom:2px;vertical-align:bottom;white-space:nowrap"> </td> </tr> <tr> <td style="vertical-align:middle;width:52%;padding-bottom:4px;background-color:rgb(204, 238, 255);vertical-align:bottom"> </td> <td colspan="1" style="vertical-align:bottom;width:1%;padding-bottom:4px;background-color:rgb(204, 238, 255);vertical-align:bottom"> </td> <td colspan="1" style="vertical-align:bottom;width:1%;border-bottom:4px double rgb(0, 0, 0);background-color:rgb(204, 238, 255);vertical-align:bottom"> <div style="line-height:1.25"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">$</span></span></div> </td> <td colspan="1" style="vertical-align:bottom;text-align:right;width:9%;border-bottom:4px double rgb(0, 0, 0);background-color:rgb(204, 238, 255);vertical-align:bottom"> <div style="line-height:1.25">2,478</div> </td> <td colspan="1" style="vertical-align:bottom;width:1%;padding-bottom:4px;background-color:rgb(204, 238, 255);vertical-align:bottom;white-space:nowrap"> </td> <td colspan="1" style="vertical-align:bottom;width:1%;padding-bottom:4px;background-color:rgb(204, 238, 255);vertical-align:bottom"> </td> <td colspan="1" style="vertical-align:bottom;width:1%;border-bottom:4px double rgb(0, 0, 0);background-color:rgb(204, 238, 255);vertical-align:bottom"> <div style="line-height:1.25"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">$</span></span></div> </td> <td colspan="1" style="vertical-align:bottom;text-align:right;width:9%;border-bottom:4px double rgb(0, 0, 0);background-color:rgb(204, 238, 255);vertical-align:bottom"> <div style="line-height:1.25">-</div> </td> <td colspan="1" style="vertical-align:bottom;width:1%;padding-bottom:4px;background-color:rgb(204, 238, 255);vertical-align:bottom;white-space:nowrap"> </td> <td colspan="1" style="vertical-align:bottom;width:1%;padding-bottom:4px;background-color:rgb(204, 238, 255);vertical-align:bottom"> </td> <td colspan="1" style="vertical-align:bottom;width:1%;border-bottom:4px double rgb(0, 0, 0);background-color:rgb(204, 238, 255);vertical-align:bottom"> <div style="line-height:1.25"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">$</span></span></div> </td> <td colspan="1" style="vertical-align:bottom;text-align:right;width:9%;border-bottom:4px double rgb(0, 0, 0);background-color:rgb(204, 238, 255);vertical-align:bottom"> <div style="line-height:1.25">(4,302</div> </td> <td colspan="1" style="vertical-align:bottom;width:1%;padding-bottom:4px;background-color:rgb(204, 238, 255);vertical-align:bottom;white-space:nowrap"> <div style="line-height:1.25"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">)</span></span></div> </td> <td colspan="1" style="vertical-align:bottom;width:1%;padding-bottom:4px;background-color:rgb(204, 238, 255);vertical-align:bottom"> </td> <td colspan="1" style="vertical-align:bottom;width:1%;border-bottom:4px double rgb(0, 0, 0);background-color:rgb(204, 238, 255);vertical-align:bottom"> <div style="line-height:1.25"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">$</span></span></div> </td> <td colspan="1" style="vertical-align:bottom;text-align:right;width:9%;border-bottom:4px double rgb(0, 0, 0);background-color:rgb(204, 238, 255);vertical-align:bottom"> <div style="line-height:1.25">6,780</div> </td> <td colspan="1" style="vertical-align:bottom;width:1%;padding-bottom:4px;background-color:rgb(204, 238, 255);vertical-align:bottom;white-space:nowrap"> </td> </tr> </table> </div> </div> 4427000 0 0 4427000 9618000 0 9618000 0 14045000 0 9618000 4427000 6780000 0 0 6780000 4302000 0 4302000 0 2478000 0 -4302000 6780000 916541000 946351000 <div> <div style="line-height:1.25"> <div style="line-height:1.25"> <div style="text-align:justify;line-height:1.25"> <div style="line-height:1.25"> <div style="line-height:1.25"> <div style="line-height:1.25"> <div style="line-height:1.25"> <table border="0" cellpadding="0" cellspacing="0" style="font-family:'Times New Roman', Times, serif;font-size:10pt;color:#000000;width:100%"> <tr> <td style="width:56pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span style="font-weight:bold">NOTE 11:</span></span></span></td> <td style="width:auto"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span style="font-weight:bold">EMPLOYEE RELATED LIABILITIES</span></span></span></td> </tr> </table> <div style="line-height:1.25"> </div> </div> </div> </div> </div> </div> </div> </div> <div style="line-height:1.25"> <div style="line-height:1.25"> <div style="line-height:1.25"> <div> <div style="line-height:1.25"> <table border="0" cellpadding="0" cellspacing="0" style="font-family:'Times New Roman', Times, serif;font-size:10pt;color:#000000;width:100%"> <tr> <td style="width:56pt"> <div> </div> </td> <td style="font-weight:bold;width:22pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">A.</span></span></td> <td style="font-weight:bold;width:auto"> <div> <div style="font-weight:bold"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span style="font-weight:bold">Employee Termination Benefits</span></span></span></div> </div> </td> </tr> </table> <div> </div> <div> <div style="line-height:1.25"> <div style="line-height:1.25"> <div style="line-height:1.25"> <div> <div style="line-height:1.25"> <table border="0" cellpadding="0" cellspacing="0" style="font-family:'Times New Roman', Times, serif;font-size:10pt;color:#000000;width:100%"> <tr> <td style="width:56pt"> <div> </div> </td> <td style="font-weight:bold;width:22pt"> </td> <td style="font-weight:normal;font-style:normal;width:auto"> <div> <div> <div> <div> <div style="text-align:justify;line-height:1.25"> <div style="line-height:1.25"> <div style="line-height:1.25"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">Israeli law, labor agreements and corporate policy determine the obligations of Tower to make severance payments to dismissed Israeli employees and to Israeli employees leaving employment under certain circumstances. Generally, the liability for severance pay benefits, as determined by Israeli law, is based upon length of service and the employee’s monthly salary. This liability is primarily covered by regular deposits made each month by Tower into recognized severance and pension funds and by insurance policies maintained by Tower, based on the employee’s salary for the relevant month.</span></span></div> <div style="line-height:1.25"> </div> <div style="line-height:1.25"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">Tower implements a labor agreement with regard to most of its Israeli employees, according to which monthly deposits into recognized severance and pension funds or insurance policies release it from any additional severance obligation in excess of the balance in such accounts to such Israeli employees and, therefore, Tower incurs no liability or asset with respect to such severance obligations and deposits. Payments relating to Israeli employee termination benefits were $7,098, $5,716 and $5,752 for 2025, 2024 and 2023, respectively.</span></span></div> <div style="line-height:1.25"> </div> <div style="line-height:1.25"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">TPSCo established a Defined Contribution Retirement Plan (the “DC Plan”) for its employees through which TPSCo contributes approximately 8% of employee base salary to the DC Plan. Such contribution releases the employer from further obligation to any payments upon termination of employment. The contribution is remitted either to third party benefit funds based on employee preference, or directly, to those employees who elected not to enroll in the DC Plan. Total payments under the DC Plan in 2025, 2024 and 2023 amounted to $3,660, $3,853 and $4,266 respectively.</span></span></div> </div> </div> </div> </div> </div> </div> </td> </tr> </table> <p style="margin:0pt"> </p> </div> </div> </div> </div> </div> </div> </div> </div> </div> </div> </div> <div style="margin-top:0px;margin-bottom:0px"></div> <div style="line-height:1.25"> <div style="line-height:1.25"> <div style="text-align:justify;line-height:1.25"> <div style="line-height:1.25"> <div style="line-height:1.25"> <div style="line-height:1.25"> <div style="line-height:1.25"> <div style="line-height:1.25"> <div style="line-height:1.25"> <div style="line-height:1.25"> <div> <div style="line-height:1.25"> <table border="0" cellpadding="0" cellspacing="0" style="font-family:'Times New Roman', Times, serif;font-size:10pt;color:#000000;width:100%"> <tr> <td style="width:56pt"> <div> </div> </td> <td style="font-weight:bold;width:22pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">B.</span></span></td> <td style="font-weight:bold;width:auto"> <div> <div style="font-weight:bold"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span style="font-weight:bold">TSNB Employee Benefit Plans</span></span></span></div> </div> </td> </tr> </table> <div style="line-height:1.25"> <div style="line-height:1.25"> <div> <div style="line-height:1.25"> <table border="0" cellpadding="0" cellspacing="0" style="font-family:'Times New Roman', Times, serif;font-size:10pt;color:#000000;width:100%"> <tr> <td style="width:56pt"> <div> </div> </td> <td style="font-weight:bold;width:22pt"> </td> <td style="font-weight:bold;width:auto"> <div> <div style="font-weight:bold"> <div style="text-align:justify;line-height:1.25;font-style:italic;font-weight:bold"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">TSNB Pension Plan</span></span></div> </div> </div> </td> </tr> <tr> <td style="width:56pt"> </td> <td style="font-weight:bold;width:22pt"> </td> <td style="font-weight:bold;width:auto"> </td> </tr> </table> </div> </div> </div> </div> </div> </div> </div> </div> </div> </div> </div> </div> </div> </div> </div> </div> <div style="line-height:1.25"> <div style="line-height:1.25"> <div> <div style="line-height:1.25"> <table border="0" cellpadding="0" cellspacing="0" style="font-family:'Times New Roman', Times, serif;font-size:10pt;color:#000000;width:100%"> <tr> <td style="width:56pt"> <div> </div> </td> <td style="font-weight:bold;width:22pt"> </td> <td style="font-weight:normal;width:auto"> <div> <div> <div style="text-align:justify;line-height:1.25"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">TSNB has a pension plan that provides monthly pension payments to eligible employees upon retirement. The pension benefits are based on years of service and specified benefit amounts. TSNB uses a December 31 measurement date each year. TSNB’s funding policy is to make contributions that satisfy at least the minimum required contribution for IRS qualified plans.</span></span></div> <div style="line-height:1.25"> </div> <div style="text-align:justify;line-height:1.25"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">Funded status surplus under the plan was $1,810 and $1,870 as of December 31, 2025 and 2024, respectively, comprising of plan assets with a fair value of $19,203 and $18,904 as of December 31, 2025 and 2024 respectively, net of benefit obligation of $17,393 and $17,034, as of December 31, 2025 and 2024, respectively. The funded status surplus is included in non-current assets.</span></span></div> <div style="line-height:1.25"> </div> <div style="text-align:justify;line-height:1.25"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">Net expense recognized on the plan were $183, $87 and $183 for the years ended December 31, 2025, 2024 and 2023, respectively, comprised primarily of expected return on plan assets of $1,099, $1,075 and $1,034 for the years ended December 31, 2025, 2024 and 2023, respectively, offset by interest costs of $918, $868 and $891, for the years ending December 31, 2025, 2024 and 2023, respectively. No service costs were incurred during the years included in these financial statements as the plan did not include active employees during those years.</span></span></div> <div style="line-height:1.25"> </div> <div style="text-align:justify;line-height:1.25"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">Unrecognized losses under the plan as of December 31, 2025 and 2024 were $3,599 and $3,681, respectively. Amortization of unrecognized losses included in net expense recognized on the plan was approximately $100 per year. Unrecognized losses are substantially in their entirety comprised of historically deferred net actuarial gains and losses.</span></span></div> <div style="line-height:1.25"> </div> <div style="text-align:justify;line-height:1.25"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">Weighted average assumptions used in determining the funded status surplus were as follows:</span></span></div> </div> </div> </td> </tr> </table> <p style="margin:0pt"> </p> </div> </div> </div> </div> <div> <div style="margin-left:99pt"> <table border="0" cellpadding="0" cellspacing="0" style="color:#000000;font-family:'Times New Roman',Times,serif;font-size:10pt;text-align:left;width:85%"> <tr> <td style="width:56%;vertical-align:middle;padding-bottom:2px"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">Details</span></span></td> <td style="width:14%;vertical-align:middle;border-bottom:2px solid rgb(0, 0, 0)"> <div style="text-align:center;line-height:1.25"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>2025</span></span></span></span></div> </td> <td colspan="1" style="width:1%;vertical-align:middle;padding-bottom:2px"> </td> <td style="width:14%;vertical-align:middle;border-bottom:2px solid rgb(0, 0, 0)"> <div style="text-align:center;line-height:1.25"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>2024</span></span></span></span></div> </td> <td colspan="1" style="width:1%;vertical-align:middle;padding-bottom:2px"> </td> <td style="width:14%;vertical-align:middle;border-bottom:2px solid rgb(0, 0, 0)"> <div style="text-align:center;line-height:1.25"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>2023</span></span></span></span></div> </td> </tr> <tr> <td style="width:56%;vertical-align:middle;background-color:rgb(204, 238, 255)"> <div style="line-height:1.25"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>Discount rate</span></span></span></span></div> </td> <td style="width:14%;vertical-align:middle;background-color:rgb(204, 238, 255)"> <div style="text-align:right;line-height:1.25"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">5.30%</span></span></div> </td> <td colspan="1" style="width:1%;vertical-align:middle;background-color:rgb(204, 238, 255)"> </td> <td style="width:14%;vertical-align:middle;background-color:rgb(204, 238, 255)"> <div style="text-align:right;line-height:1.25"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">5.60%</span></span></div> </td> <td colspan="1" style="width:1%;vertical-align:middle;background-color:rgb(204, 238, 255)"> </td> <td style="width:14%;vertical-align:middle;background-color:rgb(204, 238, 255)"> <div style="text-align:right;line-height:1.25"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">4.90%</span></span></div> </td> </tr> <tr> <td style="width:56%;vertical-align:middle"> <div style="line-height:1.25"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>Expected return on plan assets</span></span></span></span></div> </td> <td style="width:14%;vertical-align:middle"> <div style="text-align:right;line-height:1.25"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">6.10%</span></span></div> </td> <td colspan="1" style="width:1%;vertical-align:middle"> </td> <td style="width:14%;vertical-align:middle"> <div style="text-align:right;line-height:1.25"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">5.60%</span></span></div> </td> <td colspan="1" style="width:1%;vertical-align:middle"> </td> <td style="width:14%;vertical-align:middle"> <div style="text-align:right;line-height:1.25"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">5.60%</span></span></div> </td> </tr> <tr> <td style="width:56%;vertical-align:middle;background-color:rgb(204, 238, 255)"> <div style="line-height:1.25"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>Rate of compensation increases</span></span></span></span></div> </td> <td style="width:14%;vertical-align:middle;background-color:rgb(204, 238, 255)"> <div style="text-align:right;line-height:1.25"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span style="-sec-ix-hidden:F20250222114549147_191">N/A</span></span></span></div> </td> <td colspan="1" style="width:1%;vertical-align:middle;background-color:rgb(204, 238, 255)"> </td> <td style="width:14%;vertical-align:middle;background-color:rgb(204, 238, 255)"> <div style="text-align:right;line-height:1.25"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span style="-sec-ix-hidden:F20250222114549148_192">N/A</span></span></span></div> </td> <td colspan="1" style="width:1%;vertical-align:middle;background-color:rgb(204, 238, 255)"> </td> <td style="width:14%;vertical-align:middle;background-color:rgb(204, 238, 255)"> <div style="text-align:right;line-height:1.25"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span style="-sec-ix-hidden:F20250222114549150_193">N/A</span></span></span></div> </td> </tr> </table> </div> </div> <div style="line-height:1.25"> <div style="line-height:1.25"> <div style="line-height:1.25"> <div> <div style="line-height:1.25"> <p style="margin:0pt"> </p> <table border="0" cellpadding="0" cellspacing="0" style="font-family:'Times New Roman', Times, serif;font-size:10pt;color:#000000;width:100%"> <tr> <td style="width:56pt"> <div> </div> </td> <td style="font-weight:bold;width:22pt"> </td> <td style="font-weight:normal;width:auto"> <div> <div> <div style="text-align:justify;line-height:1.25"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">The estimated expected return on assets of the plan is based on assumptions derived from, among other things, the historical return on assets of the plan, the current and expected investment allocation of assets held by the plan and the current and expected future rates of return in the debt and equity markets for investments held by the plan. The obligations under the plan could differ from the obligation currently recorded, if management's estimates are not consistent with actual investment performance.</span></span></div> </div> </div> </td> </tr> </table> <p style="margin:0pt"> </p> </div> </div> </div> </div> </div> <div style="margin-top:0px;margin-bottom:0px"></div> <div style="line-height:1.25"> <div style="line-height:1.25"> <div style="text-align:justify;line-height:1.25"> <div style="line-height:1.25"> <div style="line-height:1.25"> <div style="line-height:1.25"> <div style="line-height:1.25"> <div style="line-height:1.25"> <div style="line-height:1.25"> <div style="line-height:1.25"> <div> <div style="line-height:1.25"> <div style="line-height:1.25"> <div style="line-height:1.25"> <div> <div style="line-height:1.25"> <table border="0" cellpadding="0" cellspacing="0" style="font-family:'Times New Roman', Times, serif;font-size:10pt;color:#000000;width:100%"> <tr> <td style="width:56pt"> <div> </div> </td> <td style="font-weight:bold;width:22pt"> </td> <td style="font-weight:normal;width:auto"> <div> <div> <div style="text-align:justify;line-height:1.25"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">Benefits paid under the plan during the years ending December 31, 2025 and 2024 were appropriately $1,000 per year. The following benefit payments are expected to be paid in each of the next five fiscal years and in the aggregate for the five fiscal years thereafter:</span></span></div> </div> </div> </td> </tr> </table> <p style="margin:0pt"> </p> </div> </div> </div> </div> </div> </div> </div> </div> </div> </div> </div> </div> </div> </div> </div> </div> <div> <div style="margin-left:99pt"> <table border="0" cellpadding="0" cellspacing="0" style="color:#000000;font-family:'Times New Roman',Times,serif;font-size:10pt;text-align:left;width:40%"> <tr> <td style="vertical-align:bottom;padding-bottom:2px"> <div style="line-height:1.25"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">Fiscal Year</span></span></div> </td> <td colspan="1" style="vertical-align:bottom;padding-bottom:2px;vertical-align:bottom"> </td> <td colspan="2" style="border-bottom:2px solid rgb(0, 0, 0);vertical-align:bottom;margin-top:0pt;margin-bottom:0pt"> <div style="line-height:1.25;margin-top:0pt;margin-bottom:0pt;text-align:center"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span style="margin-top:0pt;margin-bottom:0pt"><span style="margin-top:0pt;margin-bottom:0pt">Other</span></span></span></span></div> <div style="line-height:1.25;margin-top:0pt;margin-bottom:0pt;text-align:center"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span style="margin-top:0pt;margin-bottom:0pt"><span style="margin-top:0pt;margin-bottom:0pt">Benefits</span></span></span></span></div> </td> <td colspan="1" style="vertical-align:bottom;padding-bottom:2px;vertical-align:bottom;white-space:nowrap"> </td> </tr> <tr> <td style="vertical-align:middle;width:88%;background-color:rgb(204, 238, 255);vertical-align:bottom"> <div style="text-align:justify;line-height:1.25"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">2026</span></span></div> </td> <td colspan="1" style="vertical-align:bottom;width:1%;background-color:rgb(204, 238, 255);vertical-align:bottom"> </td> <td colspan="1" style="vertical-align:bottom;width:1%;background-color:rgb(204, 238, 255);vertical-align:bottom"> <div style="line-height:1.25"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">$</span></span></div> </td> <td colspan="1" style="vertical-align:bottom;text-align:right;width:9%;background-color:rgb(204, 238, 255);vertical-align:bottom"> <div style="line-height:1.25">1,262</div> </td> <td colspan="1" style="vertical-align:bottom;width:1%;background-color:rgb(204, 238, 255);vertical-align:bottom;white-space:nowrap"> </td> </tr> <tr> <td style="vertical-align:middle;width:88%;vertical-align:bottom"> <div style="text-align:justify;line-height:1.25"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">2027</span></span></div> </td> <td colspan="1" style="vertical-align:bottom;width:1%;vertical-align:bottom"> </td> <td colspan="1" style="vertical-align:bottom;width:1%;vertical-align:bottom"> </td> <td colspan="1" style="vertical-align:bottom;text-align:right;width:9%;vertical-align:bottom"> <div style="line-height:1.25">1,335</div> </td> <td colspan="1" style="vertical-align:bottom;width:1%;vertical-align:bottom;white-space:nowrap"> </td> </tr> <tr> <td style="vertical-align:middle;width:88%;background-color:rgb(204, 238, 255);vertical-align:bottom"> <div style="text-align:justify;line-height:1.25"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">2028</span></span></div> </td> <td colspan="1" style="vertical-align:bottom;width:1%;background-color:rgb(204, 238, 255);vertical-align:bottom"> </td> <td colspan="1" style="vertical-align:bottom;width:1%;background-color:rgb(204, 238, 255);vertical-align:bottom"> </td> <td colspan="1" style="vertical-align:bottom;text-align:right;width:9%;background-color:rgb(204, 238, 255);vertical-align:bottom"> <div style="line-height:1.25">1,368</div> </td> <td colspan="1" style="vertical-align:bottom;width:1%;background-color:rgb(204, 238, 255);vertical-align:bottom;white-space:nowrap"> </td> </tr> <tr> <td style="vertical-align:middle;width:88%;vertical-align:bottom"> <div style="text-align:justify;line-height:1.25"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">2029</span></span></div> </td> <td colspan="1" style="vertical-align:bottom;width:1%;vertical-align:bottom"> </td> <td colspan="1" style="vertical-align:bottom;width:1%;vertical-align:bottom"> </td> <td colspan="1" style="vertical-align:bottom;text-align:right;width:9%;vertical-align:bottom"> <div style="line-height:1.25">1,389</div> </td> <td colspan="1" style="vertical-align:bottom;width:1%;vertical-align:bottom;white-space:nowrap"> </td> </tr> <tr> <td style="vertical-align:middle;width:88%;background-color:rgb(204, 238, 255);vertical-align:bottom"> <div style="text-align:justify;line-height:1.25"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">2030</span></span></div> </td> <td colspan="1" style="vertical-align:bottom;width:1%;background-color:rgb(204, 238, 255);vertical-align:bottom"> </td> <td colspan="1" style="vertical-align:bottom;width:1%;background-color:rgb(204, 238, 255);vertical-align:bottom"> </td> <td colspan="1" style="vertical-align:bottom;text-align:right;width:9%;background-color:rgb(204, 238, 255);vertical-align:bottom"> <div style="line-height:1.25"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">1,395</span></span></div> </td> <td colspan="1" style="vertical-align:bottom;width:1%;background-color:rgb(204, 238, 255);vertical-align:bottom;white-space:nowrap"> </td> </tr> <tr> <td style="vertical-align:middle;width:88%;vertical-align:bottom"> <div style="text-align:justify;line-height:1.25"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">2031 - 2035</span></span></div> </td> <td colspan="1" style="vertical-align:bottom;width:1%;vertical-align:bottom"> </td> <td colspan="1" style="vertical-align:bottom;width:1%;vertical-align:bottom"> <div style="line-height:1.25"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">$</span></span></div> </td> <td colspan="1" style="vertical-align:bottom;text-align:right;width:9%;vertical-align:bottom"> <div style="line-height:1.25"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">6,717</span></span></div> </td> <td colspan="1" style="vertical-align:bottom;width:1%;vertical-align:bottom;white-space:nowrap"> </td> </tr> </table> </div> </div> <div style="line-height:1.25;clear:both"> </div> <div style="line-height:1.25"> <div style="line-height:1.25"> <div style="line-height:1.25"> <div> <div style="line-height:1.25"> <table border="0" cellpadding="0" cellspacing="0" style="font-family:'Times New Roman', Times, serif;font-size:10pt;color:#000000;width:100%"> <tr> <td style="width:56pt"> <div> </div> </td> <td style="font-weight:bold;width:22pt"> </td> <td style="font-weight:normal;width:auto"> <div> <div> <div style="text-align:justify;line-height:1.25"> <div style="line-height:1.25"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">For each of the years included in these financial statements, the plan’s assets measured at fair value on a recurring basis consisted solely of investments in commingled funds, valued as a level 2 fair value measurement. The weighted average asset allocations for periods included were approximately 10% in equity securities and 90% in debt securities.</span></span></div> <div style="line-height:1.25"> </div> <div style="line-height:1.25"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">TSNB’s primary policy goals regarding the plan’s assets are to (1) provide liquidity to meet the Plan benefit payments and expenses payable from the Plan, (2) offer reasonable probability of achieving growth of assets that will assist in closing the Plan’s funding gap, and (3) manage the Plan’s assets in a liability framework. Plan assets are currently invested in commingled funds with various debt and equity investment objectives. The target asset allocation for the plan assets is 90% debt, or fixed income securities, and 10% equity securities. Individual funds are evaluated periodically based on comparisons to benchmark indices and peer group funds, and investment decisions are made by TSNB in accordance with the policy goals. Actual allocation to each asset category fluctuates and may not be within the target allocation specified above due to changes in market conditions.</span></span></div> </div> </div> </div> </td> </tr> <tr> <td style="width:56pt"> </td> <td style="font-weight:bold;width:22pt"> </td> <td style="font-weight:normal;width:auto"> </td> </tr> </table> </div> </div> </div> </div> </div> <div style="line-height:1.25"> <div style="line-height:1.25"> <div style="line-height:1.25"> <div> <div style="line-height:1.25"> <table border="0" cellpadding="0" cellspacing="0" style="font-family:'Times New Roman', Times, serif;font-size:10pt;color:#000000;width:100%"> <tr> <td style="width:56pt"> <div> </div> </td> <td style="font-weight:bold;width:22pt"> </td> <td style="font-weight:normal;width:auto"> <div> <div> <div style="text-align:justify;line-height:1.25"> <div style="line-height:1.25;font-style:italic;font-weight:bold"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">Post-Retirement Medical Plan</span></span></div> </div> </div> </div> </td> </tr> </table> <div style="line-height:1.25"> <div style="line-height:1.25"> <div> <div style="line-height:1.25"> <table border="0" cellpadding="0" cellspacing="0" style="font-family:'Times New Roman', Times, serif;font-size:10pt;color:#000000;width:100%"> <tr> <td style="width:56pt"> <div> </div> </td> <td style="font-weight:bold;width:22pt"> </td> <td style="font-weight:normal;width:auto"> <div> <div> <div style="text-align:justify;line-height:1.25"> <div style="line-height:1.25"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">Additionally, TSNB has a medical plan that provides post-retirement health and life benefits to eligible employees upon retirement. Benefit obligation under the plan was $1,228 and $1,235 as of December 31, 2025 and 2024, respectively. The benefit obligation is mostly included in non-current liabilities. Unrecognized losses under the plan as of December 31, 2025 and 2024, comprised in their entirety of historically deferred net actuarial gains and losses, were $829 and $1,018, respectively. Net expense recognized on the plan and amortization of unrecognized losses included in net expense recognized on the plan were immaterial in each of the years included in these financial statements.</span></span></div> </div> </div> </div> </td> </tr> </table> </div> </div> </div> </div> </div> </div> </div> </div> </div> </div> 7098000 5716000 5752000 0.08 3660000 3853000 4266000 1810000 1870000 19203000 18904000 17393000 17034000 183000 87000 183000 1099000 1075000 1034000 918000 868000 891000 3599000 3681000 100000 <div> <div style="margin-left:99pt"> <table border="0" cellpadding="0" cellspacing="0" style="color:#000000;font-family:'Times New Roman',Times,serif;font-size:10pt;text-align:left;width:85%"> <tr> <td style="width:56%;vertical-align:middle;padding-bottom:2px"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">Details</span></span></td> <td style="width:14%;vertical-align:middle;border-bottom:2px solid rgb(0, 0, 0)"> <div style="text-align:center;line-height:1.25"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>2025</span></span></span></span></div> </td> <td colspan="1" style="width:1%;vertical-align:middle;padding-bottom:2px"> </td> <td style="width:14%;vertical-align:middle;border-bottom:2px solid rgb(0, 0, 0)"> <div style="text-align:center;line-height:1.25"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>2024</span></span></span></span></div> </td> <td colspan="1" style="width:1%;vertical-align:middle;padding-bottom:2px"> </td> <td style="width:14%;vertical-align:middle;border-bottom:2px solid rgb(0, 0, 0)"> <div style="text-align:center;line-height:1.25"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>2023</span></span></span></span></div> </td> </tr> <tr> <td style="width:56%;vertical-align:middle;background-color:rgb(204, 238, 255)"> <div style="line-height:1.25"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>Discount rate</span></span></span></span></div> </td> <td style="width:14%;vertical-align:middle;background-color:rgb(204, 238, 255)"> <div style="text-align:right;line-height:1.25"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">5.30%</span></span></div> </td> <td colspan="1" style="width:1%;vertical-align:middle;background-color:rgb(204, 238, 255)"> </td> <td style="width:14%;vertical-align:middle;background-color:rgb(204, 238, 255)"> <div style="text-align:right;line-height:1.25"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">5.60%</span></span></div> </td> <td colspan="1" style="width:1%;vertical-align:middle;background-color:rgb(204, 238, 255)"> </td> <td style="width:14%;vertical-align:middle;background-color:rgb(204, 238, 255)"> <div style="text-align:right;line-height:1.25"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">4.90%</span></span></div> </td> </tr> <tr> <td style="width:56%;vertical-align:middle"> <div style="line-height:1.25"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>Expected return on plan assets</span></span></span></span></div> </td> <td style="width:14%;vertical-align:middle"> <div style="text-align:right;line-height:1.25"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">6.10%</span></span></div> </td> <td colspan="1" style="width:1%;vertical-align:middle"> </td> <td style="width:14%;vertical-align:middle"> <div style="text-align:right;line-height:1.25"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">5.60%</span></span></div> </td> <td colspan="1" style="width:1%;vertical-align:middle"> </td> <td style="width:14%;vertical-align:middle"> <div style="text-align:right;line-height:1.25"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">5.60%</span></span></div> </td> </tr> <tr> <td style="width:56%;vertical-align:middle;background-color:rgb(204, 238, 255)"> <div style="line-height:1.25"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>Rate of compensation increases</span></span></span></span></div> </td> <td style="width:14%;vertical-align:middle;background-color:rgb(204, 238, 255)"> <div style="text-align:right;line-height:1.25"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span style="-sec-ix-hidden:F20250222114549147_191">N/A</span></span></span></div> </td> <td colspan="1" style="width:1%;vertical-align:middle;background-color:rgb(204, 238, 255)"> </td> <td style="width:14%;vertical-align:middle;background-color:rgb(204, 238, 255)"> <div style="text-align:right;line-height:1.25"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span style="-sec-ix-hidden:F20250222114549148_192">N/A</span></span></span></div> </td> <td colspan="1" style="width:1%;vertical-align:middle;background-color:rgb(204, 238, 255)"> </td> <td style="width:14%;vertical-align:middle;background-color:rgb(204, 238, 255)"> <div style="text-align:right;line-height:1.25"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span style="-sec-ix-hidden:F20250222114549150_193">N/A</span></span></span></div> </td> </tr> </table> </div> </div> 0.053 0.056 0.049 0.061 0.056 0.056 1000000 <div> <div style="margin-left:99pt"> <table border="0" cellpadding="0" cellspacing="0" style="color:#000000;font-family:'Times New Roman',Times,serif;font-size:10pt;text-align:left;width:40%"> <tr> <td style="vertical-align:bottom;padding-bottom:2px"> <div style="line-height:1.25"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">Fiscal Year</span></span></div> </td> <td colspan="1" style="vertical-align:bottom;padding-bottom:2px;vertical-align:bottom"> </td> <td colspan="2" style="border-bottom:2px solid rgb(0, 0, 0);vertical-align:bottom;margin-top:0pt;margin-bottom:0pt"> <div style="line-height:1.25;margin-top:0pt;margin-bottom:0pt;text-align:center"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span style="margin-top:0pt;margin-bottom:0pt"><span style="margin-top:0pt;margin-bottom:0pt">Other</span></span></span></span></div> <div style="line-height:1.25;margin-top:0pt;margin-bottom:0pt;text-align:center"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span style="margin-top:0pt;margin-bottom:0pt"><span style="margin-top:0pt;margin-bottom:0pt">Benefits</span></span></span></span></div> </td> <td colspan="1" style="vertical-align:bottom;padding-bottom:2px;vertical-align:bottom;white-space:nowrap"> </td> </tr> <tr> <td style="vertical-align:middle;width:88%;background-color:rgb(204, 238, 255);vertical-align:bottom"> <div style="text-align:justify;line-height:1.25"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">2026</span></span></div> </td> <td colspan="1" style="vertical-align:bottom;width:1%;background-color:rgb(204, 238, 255);vertical-align:bottom"> </td> <td colspan="1" style="vertical-align:bottom;width:1%;background-color:rgb(204, 238, 255);vertical-align:bottom"> <div style="line-height:1.25"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">$</span></span></div> </td> <td colspan="1" style="vertical-align:bottom;text-align:right;width:9%;background-color:rgb(204, 238, 255);vertical-align:bottom"> <div style="line-height:1.25">1,262</div> </td> <td colspan="1" style="vertical-align:bottom;width:1%;background-color:rgb(204, 238, 255);vertical-align:bottom;white-space:nowrap"> </td> </tr> <tr> <td style="vertical-align:middle;width:88%;vertical-align:bottom"> <div style="text-align:justify;line-height:1.25"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">2027</span></span></div> </td> <td colspan="1" style="vertical-align:bottom;width:1%;vertical-align:bottom"> </td> <td colspan="1" style="vertical-align:bottom;width:1%;vertical-align:bottom"> </td> <td colspan="1" style="vertical-align:bottom;text-align:right;width:9%;vertical-align:bottom"> <div style="line-height:1.25">1,335</div> </td> <td colspan="1" style="vertical-align:bottom;width:1%;vertical-align:bottom;white-space:nowrap"> </td> </tr> <tr> <td style="vertical-align:middle;width:88%;background-color:rgb(204, 238, 255);vertical-align:bottom"> <div style="text-align:justify;line-height:1.25"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">2028</span></span></div> </td> <td colspan="1" style="vertical-align:bottom;width:1%;background-color:rgb(204, 238, 255);vertical-align:bottom"> </td> <td colspan="1" style="vertical-align:bottom;width:1%;background-color:rgb(204, 238, 255);vertical-align:bottom"> </td> <td colspan="1" style="vertical-align:bottom;text-align:right;width:9%;background-color:rgb(204, 238, 255);vertical-align:bottom"> <div style="line-height:1.25">1,368</div> </td> <td colspan="1" style="vertical-align:bottom;width:1%;background-color:rgb(204, 238, 255);vertical-align:bottom;white-space:nowrap"> </td> </tr> <tr> <td style="vertical-align:middle;width:88%;vertical-align:bottom"> <div style="text-align:justify;line-height:1.25"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">2029</span></span></div> </td> <td colspan="1" style="vertical-align:bottom;width:1%;vertical-align:bottom"> </td> <td colspan="1" style="vertical-align:bottom;width:1%;vertical-align:bottom"> </td> <td colspan="1" style="vertical-align:bottom;text-align:right;width:9%;vertical-align:bottom"> <div style="line-height:1.25">1,389</div> </td> <td colspan="1" style="vertical-align:bottom;width:1%;vertical-align:bottom;white-space:nowrap"> </td> </tr> <tr> <td style="vertical-align:middle;width:88%;background-color:rgb(204, 238, 255);vertical-align:bottom"> <div style="text-align:justify;line-height:1.25"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">2030</span></span></div> </td> <td colspan="1" style="vertical-align:bottom;width:1%;background-color:rgb(204, 238, 255);vertical-align:bottom"> </td> <td colspan="1" style="vertical-align:bottom;width:1%;background-color:rgb(204, 238, 255);vertical-align:bottom"> </td> <td colspan="1" style="vertical-align:bottom;text-align:right;width:9%;background-color:rgb(204, 238, 255);vertical-align:bottom"> <div style="line-height:1.25"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">1,395</span></span></div> </td> <td colspan="1" style="vertical-align:bottom;width:1%;background-color:rgb(204, 238, 255);vertical-align:bottom;white-space:nowrap"> </td> </tr> <tr> <td style="vertical-align:middle;width:88%;vertical-align:bottom"> <div style="text-align:justify;line-height:1.25"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">2031 - 2035</span></span></div> </td> <td colspan="1" style="vertical-align:bottom;width:1%;vertical-align:bottom"> </td> <td colspan="1" style="vertical-align:bottom;width:1%;vertical-align:bottom"> <div style="line-height:1.25"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">$</span></span></div> </td> <td colspan="1" style="vertical-align:bottom;text-align:right;width:9%;vertical-align:bottom"> <div style="line-height:1.25"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">6,717</span></span></div> </td> <td colspan="1" style="vertical-align:bottom;width:1%;vertical-align:bottom;white-space:nowrap"> </td> </tr> </table> </div> </div> 1262000 1335000 1368000 1389000 1395000 6717000 0.10 0.90 0.90 0.10 1228000 1235000 829000 1018000 <div> <div> <div style="line-height:1.25"> <div style="line-height:1.25"> <div style="text-align:justify;line-height:1.25"> <div style="line-height:1.25"> <div style="line-height:1.25"> <div style="line-height:1.25"> <div style="line-height:1.25"> <table border="0" cellpadding="0" cellspacing="0" style="font-family:'Times New Roman', Times, serif;font-size:10pt;color:#000000;width:100%"> <tr> <td style="width:56pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span style="font-weight:bold">NOTE 12:</span></span></span></td> <td style="width:auto"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span style="font-weight:bold">COMMITMENTS AND CONTINGENCIES</span></span></span></td> </tr> </table> <div style="line-height:1.25"> <div style="line-height:1.25"> <div style="line-height:1.25"> <div> <div style="line-height:1.25"> <table border="0" cellpadding="0" cellspacing="0" style="font-family:'Times New Roman', Times, serif;font-size:10pt;color:#000000;width:100%"> <tr> <td style="width:56pt"> <div> </div> </td> <td style="font-weight:bold;width:22pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">A.</span></span></td> <td style="font-weight:bold;width:auto"> <div> <div style="font-weight:bold"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span style="font-weight:bold">Liens</span></span></span></div> </div> </td> </tr> </table> <div style="line-height:1.25"> <div style="line-height:1.25"> <div> <div style="line-height:1.25"> <table border="0" cellpadding="0" cellspacing="0" style="font-family:'Times New Roman', Times, serif;font-size:10pt;color:#000000;width:100%"> <tr> <td style="width:56pt"> <div> </div> </td> <td style="font-weight:bold;width:22pt"> </td> <td style="font-weight:bold;width:auto"> <div> <div style="font-weight:bold"> <div style="text-align:justify;line-height:1.25;font-weight:bold"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">Loans and Capital Leases</span></span></div> </div> </div> </td> </tr> </table> <div style="line-height:1.25"> <div style="line-height:1.25"> <div> <div style="line-height:1.25"> <table border="0" cellpadding="0" cellspacing="0" style="font-family:'Times New Roman', Times, serif;font-size:10pt;color:#000000;width:100%"> <tr> <td style="width:56pt"> <div> </div> </td> <td style="font-weight:bold;width:22pt"> </td> <td style="font-weight:bold;width:auto"> <div> <div style="font-weight:bold"> <div style="text-align:justify;line-height:1.25;font-weight:bold"> <div style="line-height:1.25"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span style="font-weight:normal">For liens under TPSCo’s JPY Loans, see Note 9C.  For liens under the capital lease agreements, see Note 9D. </span></span></span></div> </div> </div> </div> </td> </tr> </table> </div> </div> </div> </div> </div> </div> </div> </div> </div> </div> </div> </div> </div> </div> </div> </div> </div> </div> </div> </div> <div style="line-height:1.25"> <div style="line-height:1.25"> <div style="line-height:1.25"> <div> <div style="line-height:1.25"> <table border="0" cellpadding="0" cellspacing="0" style="font-family:'Times New Roman', Times, serif;font-size:10pt;color:#000000;width:100%"> <tr> <td style="width:56pt"> <div> </div> </td> <td style="font-weight:bold;width:22pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">B.</span></span></td> <td style="font-weight:bold;width:auto"> <div> <div style="font-weight:bold"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span style="font-weight:bold">TPSCo</span></span></span></div> </div> </td> </tr> </table> </div> <div style="line-height:1.25"> <table border="0" cellpadding="0" cellspacing="0" style="font-family:'Times New Roman', Times, serif;font-size:10pt;color:#000000;width:100%"> <tr> <td style="width:78pt"> <div> </div> </td> <td style="width:33pt"> <div style="font-weight:bold"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">I.</span></span></div> </td> <td style="width:auto"> <div> <div style="font-weight:bold"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">Renewed Contracts</span></span></div> </div> </td> </tr> </table> </div> <div style="line-height:1.25"> <div style="line-height:1.25"> </div> <div style="line-height:1.25"> <table border="0" cellpadding="0" cellspacing="0" style="font-family:'Times New Roman', Times, serif;font-size:10pt;color:#000000;width:100%"> <tr> <td style="width:78pt"> <div> </div> </td> <td style="width:33pt"> </td> <td style="width:auto"> <div style="text-align:justify;line-height:1.25"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">In 2022, Tower, TPSCo and NTCJ extended certain agreements with respect to TPSCo through March 2027 under certain amended terms, including changes to the commercial pricing for the services provided by TPSCo and enhanced financial support from Tower and NTCJ to TPSCo.</span></span></div> </td> </tr> </table> </div> <div style="line-height:1.25"> <div style="line-height:1.25"> <table border="0" cellpadding="0" cellspacing="0" style="font-family:'Times New Roman', Times, serif;font-size:10pt;color:#000000;width:100%"> <tr> <td style="width:78pt"> <div> </div> </td> <td style="font-weight:bold;width:33pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">II.</span></span></td> <td style="width:auto"> <div> <div style="font-weight:bold"> <div style="font-weight:bold"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">Japanese Operations Restructuring</span></span></div> </div> </div> </td> </tr> </table> </div> <div style="line-height:1.25"> <div style="line-height:1.25"> </div> <div style="line-height:1.25"> <table border="0" cellpadding="0" cellspacing="0" style="font-family:'Times New Roman', Times, serif;font-size:10pt;color:#000000;width:100%"> <tr> <td style="width:78pt"> <div> </div> </td> <td style="width:33pt"> </td> <td style="width:auto"> <div style="text-align:justify;line-height:1.25"> <div style="line-height:1.25"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">During 2022, TPSCo’s operation in Japan was re-organized and re-structured, maintaining operations at the Uozu and Tonami facilities unchanged, while the Arai facility, which provided products solely to NTCJ and did not serve the Company’s customers, ceased operations, with a portion of the machinery and equipment of the Arai facility being transferred to the Tonami facility. The remaining machinery and equipment were sold to third parties.</span></span></div> <div style="line-height:1.25"> </div> <div style="line-height:1.25"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">The restructuring process, including the transfer and installation of machinery and equipment in the Tonami facility and the sale of certain equipment, which was mostly completed during 2023 and finalized during 2024, resulted in restructuring gain, net from the sale of machinery and equipment of $52,168 in 2023, as well as total restructuring costs (income) of $6,270 income and $19,662 expense recorded in 2024 and 2023, respectively.</span></span></div> <div style="line-height:1.25"> </div> <div style="line-height:1.25"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">Changes in accruals related to the Arai facility cessation for the years ended December 31, 2024 and December 31, 2023 were as follows:</span></span></div> </div> </td> </tr> </table> </div> </div> </div> </div> </div> </div> </div> </div> </div> <div> <div style="line-height:1.25;font-family:'Times New Roman'"> </div> <div> <div> <div> <div> <div style="margin-left:135pt"> <table border="0" cellpadding="0" cellspacing="0" style="width:85%;color:#000000;font-family:'Times New Roman', Times, serif;font-size:10pt;text-align:left"> <tr> <td style="vertical-align:bottom;padding-bottom:2px"> <div style="line-height:1.25"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">Details</span></span></div> </td> <td colspan="1" style="vertical-align:bottom;padding-bottom:2px;vertical-align:bottom"> </td> <td colspan="2" style="vertical-align:bottom;border-bottom:#000000 solid 2px;vertical-align:bottom"> <div style="text-align:center;line-height:1.25"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">Asset disposal accrual</span></span></div> </td> <td colspan="1" style="vertical-align:bottom;padding-bottom:2px;vertical-align:bottom;white-space:nowrap"> </td> <td colspan="1" style="vertical-align:bottom;padding-bottom:2px;vertical-align:bottom"> </td> <td colspan="2" style="vertical-align:top;border-bottom:#000000 solid 2px;vertical-align:bottom"> <div style="text-align:center;line-height:1.25"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">Other Restructuring costs accrual</span></span></div> </td> <td colspan="1" style="vertical-align:bottom;padding-bottom:2px;vertical-align:bottom;white-space:nowrap"> </td> </tr> <tr> <td style="vertical-align:top;width:76%;background-color:rgb(204, 238, 255);vertical-align:bottom"> <div style="line-height:1.25"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">Accrued balance as of January 1, 2023</span></span></div> </td> <td colspan="1" style="vertical-align:bottom;width:1%;background-color:rgb(204, 238, 255);vertical-align:bottom"> </td> <td colspan="1" style="vertical-align:bottom;width:1%;background-color:rgb(204, 238, 255);vertical-align:bottom"> <div style="line-height:1.25"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">$</span></span></div> </td> <td colspan="1" style="vertical-align:bottom;text-align:right;width:9%;background-color:rgb(204, 238, 255);vertical-align:bottom"> <div style="line-height:1.25">1,963</div> </td> <td colspan="1" style="vertical-align:bottom;width:1%;background-color:rgb(204, 238, 255);vertical-align:bottom;white-space:nowrap"> </td> <td colspan="1" style="vertical-align:bottom;width:1%;background-color:rgb(204, 238, 255);vertical-align:bottom"> </td> <td colspan="1" style="vertical-align:bottom;width:1%;background-color:rgb(204, 238, 255);vertical-align:bottom"> <div style="line-height:1.25"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">$</span></span></div> </td> <td colspan="1" style="vertical-align:bottom;text-align:right;width:9%;background-color:rgb(204, 238, 255);vertical-align:bottom"> <div style="line-height:1.25">7,635</div> </td> <td colspan="1" style="vertical-align:bottom;width:1%;background-color:rgb(204, 238, 255);vertical-align:bottom;white-space:nowrap"> </td> </tr> <tr> <td style="vertical-align:top;width:76%;vertical-align:bottom"> <div style="line-height:1.25"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">Expenses accrued</span></span></div> </td> <td colspan="1" style="vertical-align:bottom;width:1%;vertical-align:bottom"> </td> <td colspan="1" style="vertical-align:bottom;width:1%;vertical-align:bottom"> </td> <td colspan="1" style="vertical-align:bottom;text-align:right;width:9%;vertical-align:bottom"> <div style="line-height:1.25">-</div> </td> <td colspan="1" style="vertical-align:bottom;width:1%;vertical-align:bottom;white-space:nowrap"> </td> <td colspan="1" style="vertical-align:bottom;width:1%;vertical-align:bottom"> </td> <td colspan="1" style="vertical-align:bottom;width:1%;vertical-align:bottom"> </td> <td colspan="1" style="vertical-align:bottom;text-align:right;width:9%;vertical-align:bottom"> <div style="line-height:1.25">19,662</div> </td> <td colspan="1" style="vertical-align:bottom;width:1%;vertical-align:bottom;white-space:nowrap"> </td> </tr> <tr> <td style="vertical-align:top;width:76%;background-color:rgb(204, 238, 255);vertical-align:bottom"> <div style="line-height:1.25"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">Accruals related to assets</span></span></div> </td> <td colspan="1" style="vertical-align:bottom;width:1%;background-color:rgb(204, 238, 255);vertical-align:bottom"> </td> <td colspan="1" style="vertical-align:bottom;width:1%;background-color:rgb(204, 238, 255);vertical-align:bottom"> </td> <td colspan="1" style="vertical-align:bottom;text-align:right;width:9%;background-color:rgb(204, 238, 255);vertical-align:bottom"> <div style="line-height:1.25">(1,741</div> </td> <td colspan="1" style="vertical-align:bottom;width:1%;background-color:rgb(204, 238, 255);vertical-align:bottom;white-space:nowrap"> <div style="line-height:1.25"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">)</span></span></div> </td> <td colspan="1" style="vertical-align:bottom;width:1%;background-color:rgb(204, 238, 255);vertical-align:bottom"> </td> <td colspan="1" style="vertical-align:bottom;width:1%;background-color:rgb(204, 238, 255);vertical-align:bottom"> </td> <td colspan="1" style="vertical-align:bottom;text-align:right;width:9%;background-color:rgb(204, 238, 255);vertical-align:bottom"> <div style="line-height:1.25">(7,318</div> </td> <td colspan="1" style="vertical-align:bottom;width:1%;background-color:rgb(204, 238, 255);vertical-align:bottom;white-space:nowrap"> <div style="line-height:1.25"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">)</span></span></div> </td> </tr> <tr> <td style="vertical-align:top;width:76%;padding-bottom:2px;vertical-align:bottom"> <div style="line-height:1.25"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">Cash payments</span></span></div> </td> <td colspan="1" style="vertical-align:bottom;width:1%;padding-bottom:2px;vertical-align:bottom"> </td> <td colspan="1" style="vertical-align:bottom;width:1%;border-bottom:2px solid rgb(0, 0, 0);vertical-align:bottom"> </td> <td colspan="1" style="vertical-align:bottom;text-align:right;width:9%;border-bottom:2px solid rgb(0, 0, 0);vertical-align:bottom"> <div style="line-height:1.25">(222</div> </td> <td colspan="1" style="vertical-align:bottom;width:1%;padding-bottom:2px;vertical-align:bottom;white-space:nowrap"> <div style="line-height:1.25"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">)</span></span></div> </td> <td colspan="1" style="vertical-align:bottom;width:1%;padding-bottom:2px;vertical-align:bottom"> </td> <td colspan="1" style="vertical-align:bottom;width:1%;border-bottom:2px solid rgb(0, 0, 0);vertical-align:bottom"> </td> <td colspan="1" style="vertical-align:bottom;text-align:right;width:9%;border-bottom:2px solid rgb(0, 0, 0);vertical-align:bottom"> <div style="line-height:1.25">(17,852</div> </td> <td colspan="1" style="vertical-align:bottom;width:1%;padding-bottom:2px;vertical-align:bottom;white-space:nowrap"> <div style="line-height:1.25"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">)</span></span></div> </td> </tr> <tr> <td style="vertical-align:top;width:76%;background-color:rgb(204, 238, 255);vertical-align:bottom"> <div style="line-height:1.25"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">Accrued balance as of December 31, 2023</span></span></div> </td> <td colspan="1" style="vertical-align:bottom;width:1%;background-color:rgb(204, 238, 255);vertical-align:bottom"> </td> <td colspan="1" style="vertical-align:bottom;width:1%;background-color:rgb(204, 238, 255);vertical-align:bottom"> <div style="line-height:1.25"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">$</span></span></div> </td> <td colspan="1" style="vertical-align:bottom;text-align:right;width:9%;background-color:rgb(204, 238, 255);vertical-align:bottom"> <div style="line-height:1.25">-</div> </td> <td colspan="1" style="vertical-align:bottom;width:1%;background-color:rgb(204, 238, 255);vertical-align:bottom;white-space:nowrap"> </td> <td colspan="1" style="vertical-align:bottom;width:1%;background-color:rgb(204, 238, 255);vertical-align:bottom"> </td> <td colspan="1" style="vertical-align:bottom;width:1%;background-color:rgb(204, 238, 255);vertical-align:bottom"> <div style="line-height:1.25"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">$</span></span></div> </td> <td colspan="1" style="vertical-align:bottom;text-align:right;width:9%;background-color:rgb(204, 238, 255);vertical-align:bottom"> <div style="line-height:1.25">2,127</div> </td> <td colspan="1" style="vertical-align:bottom;width:1%;background-color:rgb(204, 238, 255);vertical-align:bottom;white-space:nowrap"> </td> </tr> <tr> <td style="vertical-align:top;width:76%;padding-bottom:2px;vertical-align:bottom"> <div style="line-height:1.25"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">Cash payments</span></span></div> </td> <td colspan="1" style="vertical-align:bottom;width:1%;padding-bottom:2px;vertical-align:bottom"> </td> <td colspan="1" style="vertical-align:bottom;width:1%;border-bottom:2px solid rgb(0, 0, 0);vertical-align:bottom"> </td> <td colspan="1" style="vertical-align:bottom;text-align:right;width:9%;border-bottom:2px solid rgb(0, 0, 0);vertical-align:bottom"> <div style="line-height:1.25">-</div> </td> <td colspan="1" style="vertical-align:bottom;width:1%;padding-bottom:2px;vertical-align:bottom;white-space:nowrap"> </td> <td colspan="1" style="vertical-align:bottom;width:1%;padding-bottom:2px;vertical-align:bottom"> </td> <td colspan="1" style="vertical-align:bottom;width:1%;border-bottom:2px solid rgb(0, 0, 0);vertical-align:bottom"> </td> <td colspan="1" style="vertical-align:bottom;text-align:right;width:9%;border-bottom:2px solid rgb(0, 0, 0);vertical-align:bottom"> <div style="line-height:1.25">(2,127</div> </td> <td colspan="1" style="vertical-align:bottom;width:1%;padding-bottom:2px;vertical-align:bottom;white-space:nowrap"> <div style="line-height:1.25"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">)</span></span></div> </td> </tr> <tr> <td style="vertical-align:top;width:76%;padding-bottom:4px;background-color:rgb(204, 238, 255);vertical-align:bottom"> <div style="line-height:1.25"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">Accrued balance as of December 31, 2024</span></span></div> </td> <td colspan="1" style="vertical-align:bottom;width:1%;padding-bottom:4px;background-color:rgb(204, 238, 255);vertical-align:bottom"> </td> <td colspan="1" style="vertical-align:bottom;width:1%;border-bottom:4px double rgb(0, 0, 0);background-color:rgb(204, 238, 255);vertical-align:bottom"> <div style="line-height:1.25"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">$</span></span></div> </td> <td colspan="1" style="vertical-align:bottom;text-align:right;width:9%;border-bottom:4px double rgb(0, 0, 0);background-color:rgb(204, 238, 255);vertical-align:bottom"> <div style="line-height:1.25">-</div> </td> <td colspan="1" style="vertical-align:bottom;width:1%;padding-bottom:4px;background-color:rgb(204, 238, 255);vertical-align:bottom;white-space:nowrap"> </td> <td colspan="1" style="vertical-align:bottom;width:1%;padding-bottom:4px;background-color:rgb(204, 238, 255);vertical-align:bottom"> </td> <td colspan="1" style="vertical-align:bottom;width:1%;border-bottom:4px double rgb(0, 0, 0);background-color:rgb(204, 238, 255);vertical-align:bottom"> <div style="line-height:1.25"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">$</span></span></div> </td> <td colspan="1" style="vertical-align:bottom;text-align:right;width:9%;border-bottom:4px double rgb(0, 0, 0);background-color:rgb(204, 238, 255);vertical-align:bottom"> <div style="line-height:1.25">-</div> </td> <td colspan="1" style="vertical-align:bottom;width:1%;padding-bottom:4px;background-color:rgb(204, 238, 255);vertical-align:bottom;white-space:nowrap"> </td> </tr> </table> </div> </div> </div> </div> </div> </div> <div style="line-height:1.25;font-family:'Times New Roman';clear:both"> </div> <div></div> <div> <div style="line-height:1.25"> <div style="line-height:1.25"> <div style="text-align:justify;line-height:1.25"> <div style="line-height:1.25"> <div style="line-height:1.25"> <div style="line-height:1.25"> <div style="line-height:1.25"> <div style="line-height:1.25"> <div style="line-height:1.25"> <div style="line-height:1.25"> <div> <div style="line-height:1.25"> <table border="0" cellpadding="0" cellspacing="0" style="font-family:'Times New Roman', Times, serif;font-size:10pt;color:#000000;width:100%"> <tr> <td style="width:56pt"> <div> </div> </td> <td style="font-weight:bold;width:22pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">C.</span></span></td> <td style="font-weight:bold;width:auto"> <div> <div style="font-weight:bold"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span style="font-weight:bold">License Agreements</span></span></span></div> </div> </td> </tr> </table> <div style="line-height:1.25"> <div style="line-height:1.25"> <div> <div style="line-height:1.25"> <table border="0" cellpadding="0" cellspacing="0" style="font-family:'Times New Roman', Times, serif;font-size:10pt;color:#000000;width:100%"> <tr> <td style="width:56pt"> <div> </div> </td> <td style="font-weight:bold;width:22pt"> </td> <td style="font-weight:normal;width:auto"> <div> <div> <div style="text-align:justify;line-height:1.25"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">The Company enters into intellectual property and licensing agreements with third parties from time to time. The effect of each of them on the Company’s total assets and results of operations is immaterial. Certain of these agreements call for royalties to be paid by the Company to these third parties.</span></span></div> </div> </div> </td> </tr> </table> </div> </div> </div> </div> </div> </div> </div> </div> </div> </div> </div> </div> </div> </div> </div> </div> <div style="line-height:1.25"> <div style="line-height:1.25"> <div> <div style="line-height:1.25"> <table border="0" cellpadding="0" cellspacing="0" style="font-family:'Times New Roman', Times, serif;font-size:10pt;color:#000000;width:100%"> <tr> <td style="width:56pt"> <div> </div> </td> <td style="font-weight:bold;width:22pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">D.</span></span></td> <td style="font-weight:bold;width:auto"> <div> <div style="font-weight:bold"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span style="font-weight:bold">TSNB Lease Agreement</span></span></span></div> </div> </td> </tr> </table> <div style="line-height:1.25"> <div style="line-height:1.25"> <div> <div style="line-height:1.25"> <table border="0" cellpadding="0" cellspacing="0" style="font-family:'Times New Roman', Times, serif;font-size:10pt;color:#000000;width:100%"> <tr> <td style="width:56pt"> <div> </div> </td> <td style="font-weight:bold;width:22pt"> </td> <td style="font-weight:normal;width:auto"> <div> <div> <div style="text-align:justify;line-height:1.25"> <div style="line-height:1.25"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">TSNB leases its facilities under an operational lease contract that is due to expire during 2030, following an extension of the lease signed in November 2025, that extended the lease from the previous 2027 expiration. A prepayment of $105,000 that was paid in 2025 was included in cash flow used in operating activities for the year ended December 31, 2025 and is being expensed to the cost of revenue in the Company’s statement of operations during the lease extended term through 2030 at an amount of approximately $6,000 per quarter. The landlord is party to an option agreement pertaining to the Newport Beach site with a third-party, under which such third party believes he has certain collateral or other rights with respect to it, hence has stated he is considering to file claims against the landlord and/ or the Company.  The landlord and the Company dispute the third-party’s claims. The landlord has agreed to indemnify the Company and to provide a defense to any claims asserted by the third-party. In prior amendments to its lease, (i) TSNB secured various contractual safeguards designed to limit and mitigate any adverse impact of construction activities on its operations; and (ii) certain obligations of TSNB and the landlord are specified, including certain noise abatement actions at the facility. The landlord has made claims that TSNB’s noise abatement efforts are not adequate under the terms of the amended lease and has requested a judicial declaration that TSNB has committed material non-curable breach of the lease. TSNB does not agree and is disputing these claims.</span></span></div> </div> </div> </div> </td> </tr> </table> </div> </div> </div> </div> </div> </div> </div> </div> <div style="line-height:1.25"> <div style="line-height:1.25"> <div style="line-height:1.25"> <div> <div style="line-height:1.25"> <table border="0" cellpadding="0" cellspacing="0" style="font-family:'Times New Roman', Times, serif;font-size:10pt;color:#000000;width:100%"> <tr> <td style="width:56pt"> <div> </div> </td> <td style="font-weight:bold;width:22pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">E.</span></span></td> <td style="font-weight:bold;width:auto"> <div> <div style="font-weight:bold"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span style="font-weight:bold">Agreement with ST Microelectronics</span></span></span></div> </div> </td> </tr> </table> <div style="line-height:1.25"> <div style="line-height:1.25"> <div> <div style="line-height:1.25"> <table border="0" cellpadding="0" cellspacing="0" style="color:#000000;font-family:Times New Roman,Times,serif;font-size:10pt;width:100%"> <tr> <td style="width:56pt"> <div> </div> </td> <td style="font-weight:bold;width:22pt"> </td> <td style="font-weight:normal;width:auto"> <div> <div> <div style="text-align:justify;line-height:1.25"> <div style="line-height:1.25"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">In 2021, TSIT, Tower’s wholly-owned Italian subsidiary, entered into a definitive agreement with ST Microelectronics (“ST”) to share under collaborative arrangement a 300mm facility with ST in Agrate, Italy. Under this arrangement, the parties were to share the cleanroom space and the facility infrastructure, with the Company installing certain of its own equipment inside the clean room in an area which consumes approximately one-third of the total clean room space. TSIT and ST invested in their respective process equipment and have been working to accelerate the process flows’ transfer to the facility, product development, qualification and subsequent ramp-up. The comprehensive qualification process was completed in the fourth quarter of 2024, followed by the commencement of volume production and operations, which were, and will continue to be, managed by ST.</span></span></div> </div> </div> </div> </td> </tr> </table> <p style="margin:0pt"> </p> </div> </div> </div> </div> </div> </div> </div> </div> </div> <div></div> <div style="line-height:1.25"> <div style="line-height:1.25"> <div style="line-height:1.25"> <div> <div style="line-height:1.25"> <table border="0" cellpadding="0" cellspacing="0" style="font-family:'Times New Roman', Times, serif;font-size:10pt;color:#000000;width:100%"> <tr> <td style="width:56pt"> <div> </div> </td> <td style="font-weight:bold;width:22pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">F.</span></span></td> <td style="font-weight:bold;width:auto"> <div> <div style="font-weight:bold"> <div style="font-weight:bold"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">Termination of Intel Acquisition Agreement</span></span></div> </div> </div> </td> </tr> </table> <div style="line-height:1.25"> <div style="line-height:1.25"> <div style="line-height:1.25"> <div> <div style="line-height:1.25"> <table border="0" cellpadding="0" cellspacing="0" style="font-family:'Times New Roman', Times, serif;font-size:10pt;color:#000000;width:100%"> <tr> <td style="width:56pt"> <div> </div> </td> <td style="font-weight:bold;width:22pt"> </td> <td style="font-weight:normal;width:auto"> <div> <div> <div> <div style="text-align:justify;line-height:1.25"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">In February 2022, Intel and Tower have signed a definitive agreement under which Intel was to acquire all of Tower’s outstanding ordinary shares, however, the closing conditions for this transaction were not met since certain regulatory approvals were not obtained. As a result, in August 2023, Intel and Tower announced the termination of this agreement. Pursuant to the terms of the agreement, and in connection with the termination, Intel paid Tower a gross termination fee of $353,000, which is presented, net of associated fees, in a separate line within the statement of operations for the year ended December 31, 2023 in the amount of $313,501.</span></span></div> </div> </div> </div> </td> </tr> </table> <div style="line-height:1.25"> <div style="line-height:1.25"> <div style="line-height:1.25"> <div> <div style="line-height:1.25"> <table border="0" cellpadding="0" cellspacing="0" style="font-family:'Times New Roman', Times, serif;font-size:10pt;color:#000000;width:100%"> <tr> <td style="width:56pt"> <div> </div> </td> <td style="font-weight:bold;width:22pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">G.</span></span></td> <td style="font-weight:bold;width:auto"> <div> <div style="font-weight:bold"> <div style="font-weight:bold"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span style="font-weight:bold">Capacity Corridor Agreement with Intel</span></span></span></div> </div> </div> </td> </tr> </table> <div style="line-height:1.25"> <div style="line-height:1.25"> <div style="line-height:1.25"> <div> <div style="line-height:1.25"> <table border="0" cellpadding="0" cellspacing="0" style="font-family:'Times New Roman', Times, serif;font-size:10pt;color:#000000;width:100%"> <tr> <td style="width:56pt"> <div> </div> </td> <td style="font-weight:bold;width:22pt"> </td> <td style="font-weight:normal;width:auto"> <div> <div> <div> <div style="text-align:justify;line-height:1.25"> <div style="line-height:1.25"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">In September 2023, Tower and Intel signed an agreement under which Intel has committed to build a capacity corridor at Tower’s instructions, in order for Intel to manufacture wafers for Tower’s customers in Intel’s 300mm facility in New Mexico, USA. Under this agreement, Tower has committed to invest up to $300,000 for equipment and other fixed assets to be owned by Tower and to be installed and qualified for Tower processes and for its customer products in this Intel facility. As of December 31, 2025, the corridor was in the initial equipment procurement and installation stage and not qualified for production. Recently, Intel has expressed its intention not to perform under the agreement and the parties are presently in a mediation process.</span></span></div> </div> </div> </div> </div> </td> </tr> </table> </div> </div> </div> </div> </div> </div> </div> </div> </div> </div> </div> </div> </div> </div> </div> </div> </div> </div> </div> </div> <div style="line-height:1.25"> <div style="line-height:1.25"> <div style="line-height:1.25"> <div> <div style="line-height:1.25"> <div> <table border="0" cellpadding="0" cellspacing="0" style="font-family:'Times New Roman', Times, serif;font-size:10pt;color:#000000;width:100%"> <tr> <td style="width:56pt"> <div> </div> </td> <td style="font-weight:bold;width:22pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">H.</span></span></td> <td style="font-weight:bold;width:auto"> <div> <div style="font-weight:bold"> <div style="font-weight:bold"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">Other Agreements</span></span></div> </div> </div> </td> </tr> </table> <div style="line-height:1.25"> <div style="line-height:1.25"> <div style="line-height:1.25"> <div> <div style="line-height:1.25"> <table border="0" cellpadding="0" cellspacing="0" style="font-family:'Times New Roman', Times, serif;font-size:10pt;color:#000000;width:100%"> <tr> <td style="width:56pt"> <div> </div> </td> <td style="font-weight:bold;width:22pt"> </td> <td style="font-weight:normal;width:auto"> <div> <div> <div> <div style="text-align:justify;line-height:1.25"> <div style="line-height:1.25"> <div style="line-height:1.25;margin-bottom:0pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">From time to time, in the ordinary course of business, the Company enters into long-term agreements with various entities for the joint development of product IPs and processes. The developed IPs may be owned separately by either the other entity or the Company, or owned jointly by both parties, as applicable.</span></span></div> </div> </div> </div> </div> </div> </td> </tr> </table> </div> </div> </div> </div> </div> </div> </div> </div> </div> </div> </div> </div> </div> 52168000 6270000 19662000 <div> <div> <div> <div style="margin-left:135pt"> <table border="0" cellpadding="0" cellspacing="0" style="width:85%;color:#000000;font-family:'Times New Roman', Times, serif;font-size:10pt;text-align:left"> <tr> <td style="vertical-align:bottom;padding-bottom:2px"> <div style="line-height:1.25"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">Details</span></span></div> </td> <td colspan="1" style="vertical-align:bottom;padding-bottom:2px;vertical-align:bottom"> </td> <td colspan="2" style="vertical-align:bottom;border-bottom:#000000 solid 2px;vertical-align:bottom"> <div style="text-align:center;line-height:1.25"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">Asset disposal accrual</span></span></div> </td> <td colspan="1" style="vertical-align:bottom;padding-bottom:2px;vertical-align:bottom;white-space:nowrap"> </td> <td colspan="1" style="vertical-align:bottom;padding-bottom:2px;vertical-align:bottom"> </td> <td colspan="2" style="vertical-align:top;border-bottom:#000000 solid 2px;vertical-align:bottom"> <div style="text-align:center;line-height:1.25"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">Other Restructuring costs accrual</span></span></div> </td> <td colspan="1" style="vertical-align:bottom;padding-bottom:2px;vertical-align:bottom;white-space:nowrap"> </td> </tr> <tr> <td style="vertical-align:top;width:76%;background-color:rgb(204, 238, 255);vertical-align:bottom"> <div style="line-height:1.25"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">Accrued balance as of January 1, 2023</span></span></div> </td> <td colspan="1" style="vertical-align:bottom;width:1%;background-color:rgb(204, 238, 255);vertical-align:bottom"> </td> <td colspan="1" style="vertical-align:bottom;width:1%;background-color:rgb(204, 238, 255);vertical-align:bottom"> <div style="line-height:1.25"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">$</span></span></div> </td> <td colspan="1" style="vertical-align:bottom;text-align:right;width:9%;background-color:rgb(204, 238, 255);vertical-align:bottom"> <div style="line-height:1.25">1,963</div> </td> <td colspan="1" style="vertical-align:bottom;width:1%;background-color:rgb(204, 238, 255);vertical-align:bottom;white-space:nowrap"> </td> <td colspan="1" style="vertical-align:bottom;width:1%;background-color:rgb(204, 238, 255);vertical-align:bottom"> </td> <td colspan="1" style="vertical-align:bottom;width:1%;background-color:rgb(204, 238, 255);vertical-align:bottom"> <div style="line-height:1.25"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">$</span></span></div> </td> <td colspan="1" style="vertical-align:bottom;text-align:right;width:9%;background-color:rgb(204, 238, 255);vertical-align:bottom"> <div style="line-height:1.25">7,635</div> </td> <td colspan="1" style="vertical-align:bottom;width:1%;background-color:rgb(204, 238, 255);vertical-align:bottom;white-space:nowrap"> </td> </tr> <tr> <td style="vertical-align:top;width:76%;vertical-align:bottom"> <div style="line-height:1.25"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">Expenses accrued</span></span></div> </td> <td colspan="1" style="vertical-align:bottom;width:1%;vertical-align:bottom"> </td> <td colspan="1" style="vertical-align:bottom;width:1%;vertical-align:bottom"> </td> <td colspan="1" style="vertical-align:bottom;text-align:right;width:9%;vertical-align:bottom"> <div style="line-height:1.25">-</div> </td> <td colspan="1" style="vertical-align:bottom;width:1%;vertical-align:bottom;white-space:nowrap"> </td> <td colspan="1" style="vertical-align:bottom;width:1%;vertical-align:bottom"> </td> <td colspan="1" style="vertical-align:bottom;width:1%;vertical-align:bottom"> </td> <td colspan="1" style="vertical-align:bottom;text-align:right;width:9%;vertical-align:bottom"> <div style="line-height:1.25">19,662</div> </td> <td colspan="1" style="vertical-align:bottom;width:1%;vertical-align:bottom;white-space:nowrap"> </td> </tr> <tr> <td style="vertical-align:top;width:76%;background-color:rgb(204, 238, 255);vertical-align:bottom"> <div style="line-height:1.25"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">Accruals related to assets</span></span></div> </td> <td colspan="1" style="vertical-align:bottom;width:1%;background-color:rgb(204, 238, 255);vertical-align:bottom"> </td> <td colspan="1" style="vertical-align:bottom;width:1%;background-color:rgb(204, 238, 255);vertical-align:bottom"> </td> <td colspan="1" style="vertical-align:bottom;text-align:right;width:9%;background-color:rgb(204, 238, 255);vertical-align:bottom"> <div style="line-height:1.25">(1,741</div> </td> <td colspan="1" style="vertical-align:bottom;width:1%;background-color:rgb(204, 238, 255);vertical-align:bottom;white-space:nowrap"> <div style="line-height:1.25"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">)</span></span></div> </td> <td colspan="1" style="vertical-align:bottom;width:1%;background-color:rgb(204, 238, 255);vertical-align:bottom"> </td> <td colspan="1" style="vertical-align:bottom;width:1%;background-color:rgb(204, 238, 255);vertical-align:bottom"> </td> <td colspan="1" style="vertical-align:bottom;text-align:right;width:9%;background-color:rgb(204, 238, 255);vertical-align:bottom"> <div style="line-height:1.25">(7,318</div> </td> <td colspan="1" style="vertical-align:bottom;width:1%;background-color:rgb(204, 238, 255);vertical-align:bottom;white-space:nowrap"> <div style="line-height:1.25"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">)</span></span></div> </td> </tr> <tr> <td style="vertical-align:top;width:76%;padding-bottom:2px;vertical-align:bottom"> <div style="line-height:1.25"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">Cash payments</span></span></div> </td> <td colspan="1" style="vertical-align:bottom;width:1%;padding-bottom:2px;vertical-align:bottom"> </td> <td colspan="1" style="vertical-align:bottom;width:1%;border-bottom:2px solid rgb(0, 0, 0);vertical-align:bottom"> </td> <td colspan="1" style="vertical-align:bottom;text-align:right;width:9%;border-bottom:2px solid rgb(0, 0, 0);vertical-align:bottom"> <div style="line-height:1.25">(222</div> </td> <td colspan="1" style="vertical-align:bottom;width:1%;padding-bottom:2px;vertical-align:bottom;white-space:nowrap"> <div style="line-height:1.25"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">)</span></span></div> </td> <td colspan="1" style="vertical-align:bottom;width:1%;padding-bottom:2px;vertical-align:bottom"> </td> <td colspan="1" style="vertical-align:bottom;width:1%;border-bottom:2px solid rgb(0, 0, 0);vertical-align:bottom"> </td> <td colspan="1" style="vertical-align:bottom;text-align:right;width:9%;border-bottom:2px solid rgb(0, 0, 0);vertical-align:bottom"> <div style="line-height:1.25">(17,852</div> </td> <td colspan="1" style="vertical-align:bottom;width:1%;padding-bottom:2px;vertical-align:bottom;white-space:nowrap"> <div style="line-height:1.25"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">)</span></span></div> </td> </tr> <tr> <td style="vertical-align:top;width:76%;background-color:rgb(204, 238, 255);vertical-align:bottom"> <div style="line-height:1.25"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">Accrued balance as of December 31, 2023</span></span></div> </td> <td colspan="1" style="vertical-align:bottom;width:1%;background-color:rgb(204, 238, 255);vertical-align:bottom"> </td> <td colspan="1" style="vertical-align:bottom;width:1%;background-color:rgb(204, 238, 255);vertical-align:bottom"> <div style="line-height:1.25"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">$</span></span></div> </td> <td colspan="1" style="vertical-align:bottom;text-align:right;width:9%;background-color:rgb(204, 238, 255);vertical-align:bottom"> <div style="line-height:1.25">-</div> </td> <td colspan="1" style="vertical-align:bottom;width:1%;background-color:rgb(204, 238, 255);vertical-align:bottom;white-space:nowrap"> </td> <td colspan="1" style="vertical-align:bottom;width:1%;background-color:rgb(204, 238, 255);vertical-align:bottom"> </td> <td colspan="1" style="vertical-align:bottom;width:1%;background-color:rgb(204, 238, 255);vertical-align:bottom"> <div style="line-height:1.25"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">$</span></span></div> </td> <td colspan="1" style="vertical-align:bottom;text-align:right;width:9%;background-color:rgb(204, 238, 255);vertical-align:bottom"> <div style="line-height:1.25">2,127</div> </td> <td colspan="1" style="vertical-align:bottom;width:1%;background-color:rgb(204, 238, 255);vertical-align:bottom;white-space:nowrap"> </td> </tr> <tr> <td style="vertical-align:top;width:76%;padding-bottom:2px;vertical-align:bottom"> <div style="line-height:1.25"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">Cash payments</span></span></div> </td> <td colspan="1" style="vertical-align:bottom;width:1%;padding-bottom:2px;vertical-align:bottom"> </td> <td colspan="1" style="vertical-align:bottom;width:1%;border-bottom:2px solid rgb(0, 0, 0);vertical-align:bottom"> </td> <td colspan="1" style="vertical-align:bottom;text-align:right;width:9%;border-bottom:2px solid rgb(0, 0, 0);vertical-align:bottom"> <div style="line-height:1.25">-</div> </td> <td colspan="1" style="vertical-align:bottom;width:1%;padding-bottom:2px;vertical-align:bottom;white-space:nowrap"> </td> <td colspan="1" style="vertical-align:bottom;width:1%;padding-bottom:2px;vertical-align:bottom"> </td> <td colspan="1" style="vertical-align:bottom;width:1%;border-bottom:2px solid rgb(0, 0, 0);vertical-align:bottom"> </td> <td colspan="1" style="vertical-align:bottom;text-align:right;width:9%;border-bottom:2px solid rgb(0, 0, 0);vertical-align:bottom"> <div style="line-height:1.25">(2,127</div> </td> <td colspan="1" style="vertical-align:bottom;width:1%;padding-bottom:2px;vertical-align:bottom;white-space:nowrap"> <div style="line-height:1.25"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">)</span></span></div> </td> </tr> <tr> <td style="vertical-align:top;width:76%;padding-bottom:4px;background-color:rgb(204, 238, 255);vertical-align:bottom"> <div style="line-height:1.25"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">Accrued balance as of December 31, 2024</span></span></div> </td> <td colspan="1" style="vertical-align:bottom;width:1%;padding-bottom:4px;background-color:rgb(204, 238, 255);vertical-align:bottom"> </td> <td colspan="1" style="vertical-align:bottom;width:1%;border-bottom:4px double rgb(0, 0, 0);background-color:rgb(204, 238, 255);vertical-align:bottom"> <div style="line-height:1.25"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">$</span></span></div> </td> <td colspan="1" style="vertical-align:bottom;text-align:right;width:9%;border-bottom:4px double rgb(0, 0, 0);background-color:rgb(204, 238, 255);vertical-align:bottom"> <div style="line-height:1.25">-</div> </td> <td colspan="1" style="vertical-align:bottom;width:1%;padding-bottom:4px;background-color:rgb(204, 238, 255);vertical-align:bottom;white-space:nowrap"> </td> <td colspan="1" style="vertical-align:bottom;width:1%;padding-bottom:4px;background-color:rgb(204, 238, 255);vertical-align:bottom"> </td> <td colspan="1" style="vertical-align:bottom;width:1%;border-bottom:4px double rgb(0, 0, 0);background-color:rgb(204, 238, 255);vertical-align:bottom"> <div style="line-height:1.25"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">$</span></span></div> </td> <td colspan="1" style="vertical-align:bottom;text-align:right;width:9%;border-bottom:4px double rgb(0, 0, 0);background-color:rgb(204, 238, 255);vertical-align:bottom"> <div style="line-height:1.25">-</div> </td> <td colspan="1" style="vertical-align:bottom;width:1%;padding-bottom:4px;background-color:rgb(204, 238, 255);vertical-align:bottom;white-space:nowrap"> </td> </tr> </table> </div> </div> </div> </div> 1963000 7635000 0 19662000 1741000 7318000 222000 17852000 0 2127000 0 2127000 0 0 105000000 6000000 353000000 313501000 300000000 <div> <div> <div style="line-height:1.25"> <div style="line-height:1.25"> <div style="text-align:justify;line-height:1.25"> <div style="line-height:1.25"> <div style="line-height:1.25"> <div style="line-height:1.25"> <div style="line-height:1.25"> <table border="0" cellpadding="0" cellspacing="0" style="font-family:'Times New Roman', Times, serif;font-size:10pt;color:#000000;width:100%"> <tr> <td style="text-align:left;width:56pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span style="font-weight:bold">NOTE 13:</span></span></span></td> <td style="width:auto"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span style="font-weight:bold">SHAREHOLDERS’ EQUITY</span></span></span></td> </tr> </table> </div> </div> </div> </div> </div> </div> </div> <div style="line-height:1.25"> <div style="line-height:1.25"> <div style="line-height:1.25"> <div> <div style="line-height:1.25"> <table border="0" cellpadding="0" cellspacing="0" style="font-family:'Times New Roman', Times, serif;font-size:10pt;color:#000000;width:100%"> <tr> <td style="font-weight:bold;width:56pt"> </td> <td style="font-weight:bold;width:22pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">A.</span></span></td> <td style="font-weight:bold;width:auto"> <div> <div style="font-weight:bold"> <div style="font-weight:bold"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span style="font-weight:bold">Description of Ordinary Shares</span></span></span></div> </div> </div> </td> </tr> </table> <div style="line-height:1.25"> <div style="line-height:1.25"> <div style="line-height:1.25"> <div> <div style="line-height:1.25"> <table border="0" cellpadding="0" cellspacing="0" style="font-family:'Times New Roman', Times, serif;font-size:10pt;color:#000000;width:100%"> <tr> <td style="width:56pt"> <div> </div> </td> <td style="font-weight:bold;width:22pt"> </td> <td style="font-weight:normal;width:auto"> <div> <div> <div> <div style="text-align:justify;line-height:1.25"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">As of December 31, 2025, Tower had 150 million authorized ordinary shares, par value NIS 15.00 each, of which approximately 112.5 million were outstanding. Holders of ordinary shares are entitled to participate equally in the payment of cash dividends and bonus share (stock dividend) distributions, if any, and, in the event of the liquidation of Tower, in the distribution of assets after satisfaction of liabilities to creditors. Each ordinary share is entitled to one vote on all matters to be voted on by shareholders.</span></span></div> </div> </div> </div> </td> </tr> </table> <p style="margin:0pt"> </p> </div> </div> </div> </div> </div> </div> </div> </div> </div> </div> <div></div> <div style="line-height:1.25"> <div style="line-height:1.25"> <div style="line-height:1.25"> <div style="line-height:1.25"> <div> <div style="line-height:1.25"> <table border="0" cellpadding="0" cellspacing="0" style="font-family:'Times New Roman', Times, serif;font-size:10pt;color:#000000;width:100%"> <tr> <td style="font-weight:bold;width:56pt"> </td> <td style="font-weight:bold;width:22pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">B.</span></span></td> <td style="font-weight:bold;width:auto"> <div> <div style="font-weight:bold"> <div style="font-weight:bold"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span style="font-weight:bold">Equity Incentive Plans</span></span></span></div> </div> </div> </td> </tr> </table> <div style="line-height:1.25"> <div style="line-height:1.25"> <div style="line-height:1.25"> <div> <div style="line-height:1.25"> <table border="0" cellpadding="0" cellspacing="0" style="font-family:'Times New Roman', Times, serif;font-size:10pt;color:#000000;width:100%"> <tr> <td style="width:78pt"> <div> </div> </td> <td style="font-weight:bold;width:22pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">(1)</span></span></td> <td style="font-weight:bold;width:auto"> <div> <div> <div> <div style="text-align:justify;line-height:1.25"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">Tower’s 2013 Share Incentive Plan (the “2013 Plan”)</span></span></div> </div> </div> </div> </td> </tr> </table> <div style="line-height:1.25"> <div style="line-height:1.25"> <div style="line-height:1.25"> <div> <div style="line-height:1.25"> <table border="0" cellpadding="0" cellspacing="0" style="font-family:'Times New Roman', Times, serif;font-size:10pt;color:#000000;width:100%"> <tr> <td style="width:56pt"> <div> </div> </td> <td style="font-weight:bold;width:22pt"> </td> <td style="font-weight:bold;width:auto"> <div> <div style="font-weight:bold"> <div style="font-weight:bold"> <div style="line-height:1.25"> <div style="text-align:justify;line-height:1.25;font-weight:normal"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">In 2013, the Company adopted a share incentive plan for directors, officers and employees of the Company (“2013 Plan”).</span></span></div> <div style="line-height:1.25;font-weight:normal"> </div> <div style="text-align:justify;line-height:1.25;font-weight:normal"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">Under the 2013 Plan, the Company granted a total of approximately 0.78 million restricted stock units (“RSUs”) to its employees and directors during 2025 and a total of approximately 1.58 million RSUs to its employees and directors during 2024, including the below-described grants to the CEO and directors, with vesting periods of up to three years. These RSUs amounts also include performance based RSUs (“PSUs”) and market based RSUs (“MSUs”). The Company determines compensation expenses of the RSUs based on the closing market price of the ordinary shares on the last trading day immediately prior to the date of grant and amortizes it over the applicable vesting period, taking into consideration achievement, if any, of performance and market criteria.</span></span></div> <div style="line-height:1.25;font-weight:normal"> </div> <div style="text-align:justify;line-height:1.25;font-weight:normal"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">During 2025, the Company's CEO and members of the Board of Directors were awarded the following RSUs under the 2013 Plan:</span></span></div> <div style="line-height:1.25;font-weight:normal"> </div> <div style="text-align:justify;line-height:1.25;font-weight:normal"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">(i) approximately 73 thousand time-vested RSUs, 132 thousand PSUs and 44 thousand MSUs, granted to the CEO, with 33% of such RSUs, PSUs and MSUs to vest at the end of each year for 3 years following the grant date. The total compensation value of these awards was approximately $12,000. The grant also included a provision requiring the CEO to own ordinary shares of the Company at a minimum value that equals at least three times his annual base salary (the “Minimum Holding”). As of December 31, 2025, the CEO is in compliance with the Minimum Holding requirement;</span></span></div> <div style="line-height:1.25;font-weight:normal"> </div> <div style="text-align:justify;line-height:1.25;font-weight:normal"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">(ii) approximately 6.3 thousand time-vested RSUs to the chairman of the Board of Directors (the “Chairman”) for a total compensation value of $300, to vest 33% at the end of each year for 3 years following the grant date; and</span></span></div> <div style="line-height:1.25;font-weight:normal"> </div> <div style="text-align:justify;line-height:1.25;font-weight:normal"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">(iii) approximately 4.2 thousand time-vested RSUs to each of the eight members of the Board of Directors then serving (other than to the Chairman and the CEO), for a total compensation value of $200 each, vesting over a two-year period, with 50% vesting on the first anniversary of the date of grant and 50% on the second anniversary of the date of grant.</span></span></div> <div style="line-height:1.25;font-weight:normal"> </div> <div style="text-align:justify;line-height:1.25"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span style="font-weight:normal">The members of the Board have to own ordinary shares of the Company at a minimum value that equals at least 50% of their annual base fee and the Chairman will have to own ordinary shares of the Company at a minimum value that equals at least 50% of his annual cash compensation (the “BOD Minimum Holding”).<br/><br/>As of December 31, 2025, the members of the Board and the Chairman are in compliance with the BDO Minimum Holding requirement.</span></span></span></div> <div style="line-height:1.25"> </div> <div style="text-align:justify;line-height:1.25;font-weight:normal"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">During 2024, the Company's CEO and members of the Board of Directors were awarded the following RSUs under the 2013 Plan:</span></span></div> <div style="line-height:1.25"> </div> <div style="text-align:justify;line-height:1.25;font-weight:normal"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">(i) approximately 78 thousand time-vested RSUs, 176 thousand PSUs and 256 thousand MSUs, granted to the CEO, with 33% of such RSUs, PSUs and MSUs to vest at the end of each year for 3 years following the grant date. The total compensation value of these awards was approximately $16,500.</span></span></div> </div> </div> </div> </div> </td> </tr> </table> </div> </div> </div> </div> </div> </div> </div> </div> </div> </div> </div> </div> </div> </div> </div> </div> <p style="margin-top:0pt;margin-bottom:0pt;font-family:Times New Roman,Times,serif;text-align:left;font-size:10pt"> </p> <div></div> <div style="line-height:1.25"> <div style="line-height:1.25"> <div style="line-height:1.25"> <div style="line-height:1.25"> <div> <div style="line-height:1.25"> <div style="line-height:1.25"> <div style="line-height:1.25"> <div style="line-height:1.25"> <div> <div style="line-height:1.25"> <table border="0" cellpadding="0" cellspacing="0" style="font-family:'Times New Roman', Times, serif;font-size:10pt;color:#000000;width:100%"> <tr> <td style="width:56pt"> <div> </div> </td> <td style="font-weight:bold;width:22pt"> </td> <td style="font-weight:normal;width:auto"> <div> <div> <div> <div style="text-align:justify;line-height:1.25"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">(ii) approximately 7.4 thousand time-vested RSUs to the chairman of the Board of Directors (the “Chairman”) for a total compensation value of $300, to vest 33% at the end of each year for 3 years following the grant date; and</span></span></div> <div style="line-height:1.25"> </div> <div style="text-align:justify;line-height:1.25"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">(iii) approximately 4.9 thousand time-vested RSUs to each of the eight members of the Board of Directors then serving (other than to the Chairman and the CEO), for a total compensation value of $200 each, vesting over a two-year period, with 50% vesting on the first anniversary of the date of grant and 50% on the second anniversary of the date of grant.</span></span></div> </div> </div> </div> </td> </tr> </table> </div> </div> </div> </div> </div> </div> </div> </div> </div> </div> </div> <div style="line-height:1.25"> <div style="line-height:1.25"> <div style="line-height:1.25"> <div> <div style="line-height:1.25"> <table border="0" cellpadding="0" cellspacing="0" style="font-family:'Times New Roman', Times, serif;font-size:10pt;color:#000000;width:100%"> <tr> <td style="width:78pt"> <div> </div> </td> <td style="font-weight:bold;width:22pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">(2)</span></span></td> <td style="font-weight:bold;width:auto"> <div> <div> <div> <div style="text-align:justify;line-height:1.25"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">RSUs awards</span></span></div> </div> </div> </div> </td> </tr> </table> </div> </div> </div> </div> </div> </div> <div> <div> <div style="text-align:justify;text-indent:0.3pt;line-height:1.25;font-family:'Times New Roman';font-weight:bold"> </div> <div> <div> <div> <div style="margin-left:99pt"> <table border="0" cellpadding="0" cellspacing="0" style="width:85%;color:#000000;font-family:'Times New Roman', Times, serif;font-size:10pt;text-align:left"> <tr> <td style="vertical-align:middle;padding-bottom:2px;vertical-align:bottom"> </td> <td colspan="1" style="vertical-align:bottom;padding-bottom:2px;vertical-align:bottom"> </td> <td colspan="6" style="vertical-align:middle;border-bottom:#000000 solid 2px;vertical-align:bottom"> <div style="text-align:center;line-height:1.25"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">2025</span></span></div> </td> <td colspan="1" style="vertical-align:bottom;padding-bottom:2px;vertical-align:bottom;white-space:nowrap"> </td> <td colspan="1" style="vertical-align:bottom;padding-bottom:2px;vertical-align:bottom"> </td> <td colspan="6" style="vertical-align:middle;border-bottom:#000000 solid 2px;vertical-align:bottom"> <div style="text-align:center;line-height:1.25"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">2024</span></span></div> </td> <td colspan="1" style="vertical-align:bottom;padding-bottom:2px;vertical-align:bottom;white-space:nowrap"> </td> <td colspan="1" style="vertical-align:bottom;padding-bottom:2px;vertical-align:bottom"> </td> <td colspan="6" style="vertical-align:middle;border-bottom:#000000 solid 2px;vertical-align:bottom"> <div style="text-align:center;line-height:1.25"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">2023</span></span></div> </td> <td colspan="1" style="vertical-align:bottom;padding-bottom:2px;vertical-align:bottom;white-space:nowrap"> </td> </tr> <tr> <td style="vertical-align:bottom;padding-bottom:2px"> <div style="line-height:1.25;font-weight:bold"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span style="text-decoration:underline">Details</span></span></span></div> </td> <td colspan="1" style="vertical-align:bottom;padding-bottom:2px;vertical-align:bottom"> </td> <td colspan="2" style="vertical-align:bottom;border-bottom:2px solid rgb(0, 0, 0);text-align:center"> <div style="line-height:1.25;font-weight:bold"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">Number of RSUs</span></span></div> </td> <td colspan="1" style="text-align:center;vertical-align:bottom;padding-bottom:2px;white-space:nowrap"> </td> <td colspan="1" style="vertical-align:bottom;padding-bottom:2px;text-align:center"> </td> <td colspan="2" style="vertical-align:bottom;border-bottom:2px solid rgb(0, 0, 0);text-align:center"> <div style="line-height:1.25;font-weight:bold"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">Weighted average fair value</span></span></div> </td> <td colspan="1" style="text-align:center;vertical-align:bottom;padding-bottom:2px;white-space:nowrap"> </td> <td colspan="1" style="vertical-align:bottom;padding-bottom:2px;text-align:center"> </td> <td colspan="2" style="vertical-align:bottom;border-bottom:2px solid rgb(0, 0, 0);text-align:center"> <div style="line-height:1.25;font-weight:bold"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">Number of RSUs</span></span></div> </td> <td colspan="1" style="text-align:center;vertical-align:bottom;padding-bottom:2px;white-space:nowrap"> </td> <td colspan="1" style="vertical-align:bottom;padding-bottom:2px;text-align:center"> </td> <td colspan="2" style="vertical-align:bottom;border-bottom:2px solid rgb(0, 0, 0);text-align:center"> <div style="line-height:1.25;font-weight:bold"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">Weighted average fair value</span></span></div> </td> <td colspan="1" style="text-align:center;vertical-align:bottom;padding-bottom:2px;white-space:nowrap"> </td> <td colspan="1" style="vertical-align:bottom;padding-bottom:2px;text-align:center"> </td> <td colspan="2" style="vertical-align:bottom;border-bottom:2px solid rgb(0, 0, 0);text-align:center"> <div style="line-height:1.25;font-weight:bold"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">Number of RSUs</span></span></div> </td> <td colspan="1" style="text-align:center;vertical-align:bottom;padding-bottom:2px;white-space:nowrap"> </td> <td colspan="1" style="vertical-align:bottom;padding-bottom:2px;text-align:center"> </td> <td colspan="2" style="vertical-align:bottom;border-bottom:2px solid rgb(0, 0, 0);text-align:center"> <div style="line-height:1.25;font-weight:bold"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">Weighted average fair value</span></span></div> </td> <td colspan="1" style="vertical-align:bottom;padding-bottom:2px;vertical-align:bottom;white-space:nowrap"> </td> </tr> <tr> <td style="vertical-align:middle;width:28%;background-color:rgb(204, 238, 255);vertical-align:bottom"> <div style="line-height:1.25"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">Outstanding as of beginning of year</span></span></div> </td> <td colspan="1" style="vertical-align:bottom;width:1%;background-color:rgb(204, 238, 255);vertical-align:bottom"> </td> <td colspan="1" style="vertical-align:bottom;width:1%;background-color:rgb(204, 238, 255);vertical-align:bottom"> </td> <td colspan="1" style="vertical-align:bottom;text-align:right;width:9%;background-color:rgb(204, 238, 255);vertical-align:bottom"> <div style="line-height:1.25">2,398,135</div> </td> <td colspan="1" style="vertical-align:bottom;width:1%;background-color:rgb(204, 238, 255);vertical-align:bottom;white-space:nowrap"> </td> <td colspan="1" style="vertical-align:bottom;width:1%;background-color:rgb(204, 238, 255);vertical-align:bottom"> </td> <td colspan="1" style="vertical-align:bottom;width:1%;background-color:rgb(204, 238, 255);vertical-align:bottom"> <div style="line-height:1.25"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">$</span></span></div> </td> <td colspan="1" style="vertical-align:bottom;text-align:right;width:9%;background-color:rgb(204, 238, 255);vertical-align:bottom"> <div style="line-height:1.25">34.51</div> </td> <td colspan="1" style="vertical-align:bottom;width:1%;background-color:rgb(204, 238, 255);vertical-align:bottom;white-space:nowrap"> </td> <td colspan="1" style="vertical-align:bottom;width:1%;background-color:rgb(204, 238, 255);vertical-align:bottom"> </td> <td colspan="1" style="vertical-align:bottom;width:1%;background-color:rgb(204, 238, 255);vertical-align:bottom"> </td> <td colspan="1" style="vertical-align:bottom;text-align:right;width:9%;background-color:rgb(204, 238, 255);vertical-align:bottom"> <div style="line-height:1.25">1,585,560</div> </td> <td colspan="1" style="vertical-align:bottom;width:1%;background-color:rgb(204, 238, 255);vertical-align:bottom;white-space:nowrap"> </td> <td colspan="1" style="vertical-align:bottom;width:1%;background-color:rgb(204, 238, 255);vertical-align:bottom"> </td> <td colspan="1" style="vertical-align:bottom;width:1%;background-color:rgb(204, 238, 255);vertical-align:bottom"> <div style="line-height:1.25"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">$</span></span></div> </td> <td colspan="1" style="vertical-align:bottom;text-align:right;width:9%;background-color:rgb(204, 238, 255);vertical-align:bottom"> <div style="line-height:1.25">38.10</div> </td> <td colspan="1" style="vertical-align:bottom;width:1%;background-color:rgb(204, 238, 255);vertical-align:bottom;white-space:nowrap"> </td> <td colspan="1" style="vertical-align:bottom;width:1%;background-color:rgb(204, 238, 255);vertical-align:bottom"> </td> <td colspan="1" style="vertical-align:bottom;width:1%;background-color:rgb(204, 238, 255);vertical-align:bottom"> </td> <td colspan="1" style="vertical-align:bottom;text-align:right;width:9%;background-color:rgb(204, 238, 255);vertical-align:bottom"> <div style="line-height:1.25">1,712,996</div> </td> <td colspan="1" style="vertical-align:bottom;width:1%;background-color:rgb(204, 238, 255);vertical-align:bottom;white-space:nowrap"> </td> <td colspan="1" style="vertical-align:bottom;width:1%;background-color:rgb(204, 238, 255);vertical-align:bottom"> </td> <td colspan="1" style="vertical-align:bottom;width:1%;background-color:rgb(204, 238, 255);vertical-align:bottom"> <div style="line-height:1.25"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">$</span></span></div> </td> <td colspan="1" style="vertical-align:bottom;text-align:right;width:9%;background-color:rgb(204, 238, 255);vertical-align:bottom"> <div style="line-height:1.25">32.90</div> </td> <td colspan="1" style="vertical-align:bottom;width:1%;background-color:rgb(204, 238, 255);vertical-align:bottom;white-space:nowrap"> </td> </tr> <tr> <td style="vertical-align:middle;width:28%;vertical-align:bottom"> <div style="line-height:1.25"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">Granted</span></span></div> </td> <td colspan="1" style="vertical-align:bottom;width:1%;vertical-align:bottom"> </td> <td colspan="1" style="vertical-align:bottom;width:1%;vertical-align:bottom"> </td> <td colspan="1" style="vertical-align:bottom;text-align:right;width:9%;vertical-align:bottom"> <div style="line-height:1.25">781,952</div> </td> <td colspan="1" style="vertical-align:bottom;width:1%;vertical-align:bottom;white-space:nowrap"> </td> <td colspan="1" style="vertical-align:bottom;width:1%;vertical-align:bottom"> </td> <td colspan="1" style="vertical-align:bottom;width:1%;vertical-align:bottom"> <div style="line-height:1.25"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">$</span></span></div> </td> <td colspan="1" style="vertical-align:bottom;text-align:right;width:9%;vertical-align:bottom"> <div style="line-height:1.25">46.37</div> </td> <td colspan="1" style="vertical-align:bottom;width:1%;vertical-align:bottom;white-space:nowrap"> </td> <td colspan="1" style="vertical-align:bottom;width:1%;vertical-align:bottom"> </td> <td colspan="1" style="vertical-align:bottom;width:1%;vertical-align:bottom"> </td> <td colspan="1" style="vertical-align:bottom;text-align:right;width:9%;vertical-align:bottom"> <div style="line-height:1.25">1,581,492</div> </td> <td colspan="1" style="vertical-align:bottom;width:1%;vertical-align:bottom;white-space:nowrap"> </td> <td colspan="1" style="vertical-align:bottom;width:1%;vertical-align:bottom"> </td> <td colspan="1" style="vertical-align:bottom;width:1%;vertical-align:bottom"> <div style="line-height:1.25"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">$</span></span></div> </td> <td colspan="1" style="vertical-align:bottom;text-align:right;width:9%;vertical-align:bottom"> <div style="line-height:1.25">31.89</div> </td> <td colspan="1" style="vertical-align:bottom;width:1%;vertical-align:bottom;white-space:nowrap"> </td> <td colspan="1" style="vertical-align:bottom;width:1%;vertical-align:bottom"> </td> <td colspan="1" style="vertical-align:bottom;width:1%;vertical-align:bottom"> </td> <td colspan="1" style="vertical-align:bottom;text-align:right;width:9%;vertical-align:bottom"> <div style="line-height:1.25">797,241</div> </td> <td colspan="1" style="vertical-align:bottom;width:1%;vertical-align:bottom;white-space:nowrap"> </td> <td colspan="1" style="vertical-align:bottom;width:1%;vertical-align:bottom"> </td> <td colspan="1" style="vertical-align:bottom;width:1%;vertical-align:bottom"> <div style="line-height:1.25"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">$</span></span></div> </td> <td colspan="1" style="vertical-align:bottom;text-align:right;width:9%;vertical-align:bottom"> <div style="line-height:1.25">37.64</div> </td> <td colspan="1" style="vertical-align:bottom;width:1%;vertical-align:bottom;white-space:nowrap"> </td> </tr> <tr> <td style="vertical-align:middle;width:28%;background-color:rgb(204, 238, 255);vertical-align:bottom"> <div style="line-height:1.25"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">Converted</span></span></div> </td> <td colspan="1" style="vertical-align:bottom;width:1%;background-color:rgb(204, 238, 255);vertical-align:bottom"> </td> <td colspan="1" style="vertical-align:bottom;width:1%;background-color:rgb(204, 238, 255);vertical-align:bottom"> </td> <td colspan="1" style="vertical-align:bottom;text-align:right;width:9%;background-color:rgb(204, 238, 255);vertical-align:bottom"> <div style="line-height:1.25">(983,643</div> </td> <td colspan="1" style="vertical-align:bottom;width:1%;background-color:rgb(204, 238, 255);vertical-align:bottom;white-space:nowrap"> <div style="line-height:1.25"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">)</span></span></div> </td> <td colspan="1" style="vertical-align:bottom;width:1%;background-color:rgb(204, 238, 255);vertical-align:bottom"> </td> <td colspan="1" style="vertical-align:bottom;width:1%;background-color:rgb(204, 238, 255);vertical-align:bottom"> <div style="line-height:1.25"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">$</span></span></div> </td> <td colspan="1" style="vertical-align:bottom;text-align:right;width:9%;background-color:rgb(204, 238, 255);vertical-align:bottom"> <div style="line-height:1.25">35.62</div> </td> <td colspan="1" style="vertical-align:bottom;width:1%;background-color:rgb(204, 238, 255);vertical-align:bottom;white-space:nowrap"> </td> <td colspan="1" style="vertical-align:bottom;width:1%;background-color:rgb(204, 238, 255);vertical-align:bottom"> </td> <td colspan="1" style="vertical-align:bottom;width:1%;background-color:rgb(204, 238, 255);vertical-align:bottom"> </td> <td colspan="1" style="vertical-align:bottom;text-align:right;width:9%;background-color:rgb(204, 238, 255);vertical-align:bottom"> <div style="line-height:1.25">(726,007</div> </td> <td colspan="1" style="vertical-align:bottom;width:1%;background-color:rgb(204, 238, 255);vertical-align:bottom;white-space:nowrap"> <div style="line-height:1.25"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">)</span></span></div> </td> <td colspan="1" style="vertical-align:bottom;width:1%;background-color:rgb(204, 238, 255);vertical-align:bottom"> </td> <td colspan="1" style="vertical-align:bottom;width:1%;background-color:rgb(204, 238, 255);vertical-align:bottom"> <div style="line-height:1.25"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">$</span></span></div> </td> <td colspan="1" style="vertical-align:bottom;text-align:right;width:9%;background-color:rgb(204, 238, 255);vertical-align:bottom"> <div style="line-height:1.25">36.52</div> </td> <td colspan="1" style="vertical-align:bottom;width:1%;background-color:rgb(204, 238, 255);vertical-align:bottom;white-space:nowrap"> </td> <td colspan="1" style="vertical-align:bottom;width:1%;background-color:rgb(204, 238, 255);vertical-align:bottom"> </td> <td colspan="1" style="vertical-align:bottom;width:1%;background-color:rgb(204, 238, 255);vertical-align:bottom"> </td> <td colspan="1" style="vertical-align:bottom;text-align:right;width:9%;background-color:rgb(204, 238, 255);vertical-align:bottom"> <div style="line-height:1.25">(870,720</div> </td> <td colspan="1" style="vertical-align:bottom;width:1%;background-color:rgb(204, 238, 255);vertical-align:bottom;white-space:nowrap"> <div style="line-height:1.25"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">)</span></span></div> </td> <td colspan="1" style="vertical-align:bottom;width:1%;background-color:rgb(204, 238, 255);vertical-align:bottom"> </td> <td colspan="1" style="vertical-align:bottom;width:1%;background-color:rgb(204, 238, 255);vertical-align:bottom"> <div style="line-height:1.25"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">$</span></span></div> </td> <td colspan="1" style="vertical-align:bottom;text-align:right;width:9%;background-color:rgb(204, 238, 255);vertical-align:bottom"> <div style="line-height:1.25">27.80</div> </td> <td colspan="1" style="vertical-align:bottom;width:1%;background-color:rgb(204, 238, 255);vertical-align:bottom;white-space:nowrap"> </td> </tr> <tr> <td style="vertical-align:middle;width:28%;padding-bottom:2px;vertical-align:bottom"> <div style="line-height:1.25"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">Forfeited</span></span></div> </td> <td colspan="1" style="vertical-align:bottom;width:1%;padding-bottom:2px;vertical-align:bottom"> </td> <td colspan="1" style="vertical-align:bottom;width:1%;border-bottom:2px solid rgb(0, 0, 0);vertical-align:bottom"> </td> <td colspan="1" style="vertical-align:bottom;text-align:right;width:9%;border-bottom:2px solid rgb(0, 0, 0);vertical-align:bottom"> <div style="line-height:1.25">(49,820</div> </td> <td colspan="1" style="vertical-align:bottom;width:1%;padding-bottom:2px;vertical-align:bottom;white-space:nowrap"> <div style="line-height:1.25"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">)</span></span></div> </td> <td colspan="1" style="vertical-align:bottom;width:1%;padding-bottom:2px;vertical-align:bottom"> </td> <td colspan="1" style="vertical-align:bottom;width:1%;padding-bottom:2px;vertical-align:bottom"> <div style="line-height:1.25"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">$</span></span></div> </td> <td colspan="1" style="vertical-align:bottom;text-align:right;width:9%;padding-bottom:2px;vertical-align:bottom"> <div style="line-height:1.25">36.87</div> </td> <td colspan="1" style="vertical-align:bottom;width:1%;padding-bottom:2px;vertical-align:bottom;white-space:nowrap"> </td> <td colspan="1" style="vertical-align:bottom;width:1%;padding-bottom:2px;vertical-align:bottom"> </td> <td colspan="1" style="vertical-align:bottom;width:1%;border-bottom:2px solid rgb(0, 0, 0);vertical-align:bottom"> </td> <td colspan="1" style="vertical-align:bottom;text-align:right;width:9%;border-bottom:2px solid rgb(0, 0, 0);vertical-align:bottom"> <div style="line-height:1.25">(42,910</div> </td> <td colspan="1" style="vertical-align:bottom;width:1%;padding-bottom:2px;vertical-align:bottom;white-space:nowrap"> <div style="line-height:1.25"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">)</span></span></div> </td> <td colspan="1" style="vertical-align:bottom;width:1%;padding-bottom:2px;vertical-align:bottom"> </td> <td colspan="1" style="vertical-align:bottom;width:1%;padding-bottom:2px;vertical-align:bottom"> <div style="line-height:1.25"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">$</span></span></div> </td> <td colspan="1" style="vertical-align:bottom;text-align:right;width:9%;padding-bottom:2px;vertical-align:bottom"> <div style="line-height:1.25">36.96</div> </td> <td colspan="1" style="vertical-align:bottom;width:1%;padding-bottom:2px;vertical-align:bottom;white-space:nowrap"> </td> <td colspan="1" style="vertical-align:bottom;width:1%;padding-bottom:2px;vertical-align:bottom"> </td> <td colspan="1" style="vertical-align:bottom;width:1%;border-bottom:2px solid rgb(0, 0, 0);vertical-align:bottom"> </td> <td colspan="1" style="vertical-align:bottom;text-align:right;width:9%;border-bottom:2px solid rgb(0, 0, 0);vertical-align:bottom"> <div style="line-height:1.25">(53,957</div> </td> <td colspan="1" style="vertical-align:bottom;width:1%;padding-bottom:2px;vertical-align:bottom;white-space:nowrap"> <div style="line-height:1.25"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">)</span></span></div> </td> <td colspan="1" style="vertical-align:bottom;width:1%;padding-bottom:2px;vertical-align:bottom"> </td> <td colspan="1" style="vertical-align:bottom;width:1%;padding-bottom:2px;vertical-align:bottom"> <div style="line-height:1.25"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">$</span></span></div> </td> <td colspan="1" style="vertical-align:bottom;text-align:right;width:9%;padding-bottom:2px;vertical-align:bottom"> <div style="line-height:1.25">32.49</div> </td> <td colspan="1" style="vertical-align:bottom;width:1%;padding-bottom:2px;vertical-align:bottom;white-space:nowrap"> </td> </tr> <tr> <td style="vertical-align:middle;width:28%;padding-bottom:4px;background-color:rgb(204, 238, 255);vertical-align:bottom"> <div style="line-height:1.25"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">Outstanding as of end of year (*)</span></span></div> </td> <td colspan="1" style="vertical-align:bottom;width:1%;padding-bottom:4px;background-color:rgb(204, 238, 255);vertical-align:bottom"> </td> <td colspan="1" style="vertical-align:bottom;width:1%;border-bottom:4px double rgb(0, 0, 0);background-color:rgb(204, 238, 255);vertical-align:bottom"> </td> <td colspan="1" style="vertical-align:bottom;text-align:right;width:9%;border-bottom:4px double rgb(0, 0, 0);background-color:rgb(204, 238, 255);vertical-align:bottom"> <div style="line-height:1.25">2,146,624</div> </td> <td colspan="1" style="vertical-align:bottom;width:1%;padding-bottom:4px;background-color:rgb(204, 238, 255);vertical-align:bottom;white-space:nowrap"> </td> <td colspan="1" style="vertical-align:bottom;width:1%;padding-bottom:4px;background-color:rgb(204, 238, 255);vertical-align:bottom"> </td> <td colspan="1" style="vertical-align:bottom;width:1%;background-color:rgb(204, 238, 255);padding-bottom:4px;vertical-align:bottom"> <div style="line-height:1.25"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">$</span></span></div> </td> <td colspan="1" style="vertical-align:bottom;text-align:right;width:9%;background-color:rgb(204, 238, 255);padding-bottom:4px;vertical-align:bottom"> <div style="line-height:1.25">38.26</div> </td> <td colspan="1" style="vertical-align:bottom;width:1%;padding-bottom:4px;background-color:rgb(204, 238, 255);vertical-align:bottom;white-space:nowrap"> </td> <td colspan="1" style="vertical-align:bottom;width:1%;padding-bottom:4px;background-color:rgb(204, 238, 255);vertical-align:bottom"> </td> <td colspan="1" style="vertical-align:bottom;width:1%;border-bottom:4px double rgb(0, 0, 0);background-color:rgb(204, 238, 255);vertical-align:bottom"> </td> <td colspan="1" style="vertical-align:bottom;text-align:right;width:9%;border-bottom:4px double rgb(0, 0, 0);background-color:rgb(204, 238, 255);vertical-align:bottom"> <div style="line-height:1.25">2,398,135</div> </td> <td colspan="1" style="vertical-align:bottom;width:1%;padding-bottom:4px;background-color:rgb(204, 238, 255);vertical-align:bottom;white-space:nowrap"> </td> <td colspan="1" style="vertical-align:bottom;width:1%;padding-bottom:4px;background-color:rgb(204, 238, 255);vertical-align:bottom"> </td> <td colspan="1" style="vertical-align:bottom;width:1%;background-color:rgb(204, 238, 255);padding-bottom:4px;vertical-align:bottom"> <div style="line-height:1.25"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">$</span></span></div> </td> <td colspan="1" style="vertical-align:bottom;text-align:right;width:9%;background-color:rgb(204, 238, 255);padding-bottom:4px;vertical-align:bottom"> <div style="line-height:1.25">34.51</div> </td> <td colspan="1" style="vertical-align:bottom;width:1%;padding-bottom:4px;background-color:rgb(204, 238, 255);vertical-align:bottom;white-space:nowrap"> </td> <td colspan="1" style="vertical-align:bottom;width:1%;padding-bottom:4px;background-color:rgb(204, 238, 255);vertical-align:bottom"> </td> <td colspan="1" style="vertical-align:bottom;width:1%;border-bottom:4px double rgb(0, 0, 0);background-color:rgb(204, 238, 255);vertical-align:bottom"> </td> <td colspan="1" style="vertical-align:bottom;text-align:right;width:9%;border-bottom:4px double rgb(0, 0, 0);background-color:rgb(204, 238, 255);vertical-align:bottom"> <div style="line-height:1.25">1,585,560</div> </td> <td colspan="1" style="vertical-align:bottom;width:1%;padding-bottom:4px;background-color:rgb(204, 238, 255);vertical-align:bottom;white-space:nowrap"> </td> <td colspan="1" style="vertical-align:bottom;width:1%;padding-bottom:4px;background-color:rgb(204, 238, 255);vertical-align:bottom"> </td> <td colspan="1" style="vertical-align:bottom;width:1%;background-color:rgb(204, 238, 255);padding-bottom:4px;vertical-align:bottom"> <div style="line-height:1.25"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">$</span></span></div> </td> <td colspan="1" style="vertical-align:bottom;text-align:right;width:9%;background-color:rgb(204, 238, 255);padding-bottom:4px;vertical-align:bottom"> <div style="line-height:1.25">38.10</div> </td> <td colspan="1" style="vertical-align:bottom;width:1%;padding-bottom:4px;background-color:rgb(204, 238, 255);vertical-align:bottom;white-space:nowrap"> </td> </tr> </table> </div> <div style="line-height:1.25;clear:both"> <div style="line-height:1.25"> <div style="line-height:1.25"> <div style="line-height:1.25"> <div> <div style="line-height:1.25"> <div> </div> <table border="0" cellpadding="0" cellspacing="0" style="font-family:'Times New Roman', Times, serif;font-size:10pt;color:#000000;width:100%"> <tr> <td style="width:56pt"> <div> </div> </td> <td style="font-weight:bold;width:22pt"> </td> <td style="font-weight:normal;width:auto"> <div> <div> <div> <div style="text-align:justify;line-height:1.25"> <div style="line-height:1.25"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">(*) Include (i) 717,148, 736,014 and 559,184 PSUs as of December 31, 2025, 2024 and 2023, respectively and (ii) 535,809 and 649,249 MSUs as of December 31, 2025 and 2024, respectively.</span></span></div> </div> </div> </div> </div> </td> </tr> </table> </div> </div> </div> </div> </div> </div> </div> </div> </div> <div style="line-height:1.25;font-weight:bold"> <div> <div style="line-height:1.25"> <div style="line-height:1.25"> <div style="line-height:1.25"> <div> <div style="line-height:1.25"> <table border="0" cellpadding="0" cellspacing="0" style="font-family:Times New Roman, Times, serif;font-size:10pt;color:rgb(0, 0, 0);width:100%;border:0px"> <tr> <td style="width:78pt"> <div> </div> </td> <td style="font-weight:bold;width:22pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span>(3)</span></span></span></td> <td style="font-weight:bold;width:auto"> <p style="font-size:10pt;font-family:Times New Roman, Times, serif;margin-top:0pt;margin-bottom:0pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span>Summary of Information about Employees’ Share Incentive Plans</span></span></span></p> </td> </tr> </table> </div> </div> </div> </div> </div> </div> </div> <div style="line-height:1.25;font-family:'Times New Roman'"> </div> <div> <div> <div style="margin-left:99pt"> <table border="0" cellpadding="0" cellspacing="0" style="width:85%;color:#000000;font-family:'Times New Roman', Times, serif;font-size:10pt;text-align:left"> <tr> <td style="vertical-align:top;padding-bottom:2px;vertical-align:bottom"> <div style="text-align:justify;line-height:1.25"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span style="text-decoration:underline">Details for the year ended December 31,</span></span></span></div> </td> <td colspan="1" style="vertical-align:bottom;padding-bottom:2px;vertical-align:bottom"> </td> <td colspan="2" style="vertical-align:top;border-bottom:#000000 solid 2px;vertical-align:bottom"> <div style="text-align:center;line-height:1.25"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">2025</span></span></div> </td> <td colspan="1" style="vertical-align:bottom;padding-bottom:2px;vertical-align:bottom;white-space:nowrap"> </td> <td colspan="1" style="vertical-align:bottom;padding-bottom:2px;vertical-align:bottom"> </td> <td colspan="2" style="vertical-align:top;border-bottom:#000000 solid 2px;vertical-align:bottom"> <div style="text-align:center;line-height:1.25"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">2024</span></span></div> </td> <td colspan="1" style="vertical-align:bottom;padding-bottom:2px;vertical-align:bottom;white-space:nowrap"> </td> <td colspan="1" style="vertical-align:bottom;padding-bottom:2px;vertical-align:bottom"> </td> <td colspan="2" style="vertical-align:top;border-bottom:#000000 solid 2px;vertical-align:bottom"> <div style="text-align:center;line-height:1.25"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">2023</span></span></div> </td> <td colspan="1" style="vertical-align:bottom;padding-bottom:2px;vertical-align:bottom;white-space:nowrap"> </td> </tr> <tr> <td style="vertical-align:top;width:64%;background-color:rgb(204, 238, 255);vertical-align:bottom"> <div style="text-align:justify;line-height:1.25"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">The intrinsic value of converted RSUs</span></span></div> </td> <td colspan="1" style="vertical-align:bottom;width:1%;background-color:rgb(204, 238, 255);vertical-align:bottom"> </td> <td colspan="1" style="vertical-align:bottom;width:1%;background-color:rgb(204, 238, 255);vertical-align:bottom"> <div style="line-height:1.25"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">$</span></span></div> </td> <td colspan="1" style="vertical-align:bottom;text-align:right;width:9%;background-color:rgb(204, 238, 255);vertical-align:bottom"> <div style="line-height:1.25">58,605</div> </td> <td colspan="1" style="vertical-align:bottom;width:1%;background-color:rgb(204, 238, 255);vertical-align:bottom;white-space:nowrap"> </td> <td colspan="1" style="vertical-align:bottom;width:1%;background-color:rgb(204, 238, 255);vertical-align:bottom"> </td> <td colspan="1" style="vertical-align:bottom;width:1%;background-color:rgb(204, 238, 255);vertical-align:bottom"> <div style="line-height:1.25"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">$</span></span></div> </td> <td colspan="1" style="vertical-align:bottom;text-align:right;width:9%;background-color:rgb(204, 238, 255);vertical-align:bottom"> <div style="line-height:1.25">28,667</div> </td> <td colspan="1" style="vertical-align:bottom;width:1%;background-color:rgb(204, 238, 255);vertical-align:bottom;white-space:nowrap"> </td> <td colspan="1" style="vertical-align:bottom;width:1%;background-color:rgb(204, 238, 255);vertical-align:bottom"> </td> <td colspan="1" style="vertical-align:bottom;width:1%;background-color:rgb(204, 238, 255);vertical-align:bottom"> <div style="line-height:1.25"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">$</span></span></div> </td> <td colspan="1" style="vertical-align:bottom;text-align:right;width:9%;background-color:rgb(204, 238, 255);vertical-align:bottom"> <div style="line-height:1.25">26,976</div> </td> <td colspan="1" style="vertical-align:bottom;width:1%;background-color:rgb(204, 238, 255);vertical-align:bottom;white-space:nowrap"> </td> </tr> <tr> <td style="vertical-align:top;width:64%;vertical-align:bottom"> <div style="text-align:justify;line-height:1.25"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">The original fair value of converted RSUs</span></span></div> </td> <td colspan="1" style="vertical-align:bottom;width:1%;vertical-align:bottom"> </td> <td colspan="1" style="vertical-align:bottom;width:1%;vertical-align:bottom"> <div style="line-height:1.25"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">$</span></span></div> </td> <td colspan="1" style="vertical-align:bottom;text-align:right;width:9%;vertical-align:bottom"> <div style="line-height:1.25">35,039</div> </td> <td colspan="1" style="vertical-align:bottom;width:1%;vertical-align:bottom;white-space:nowrap"> </td> <td colspan="1" style="vertical-align:bottom;width:1%;vertical-align:bottom"> </td> <td colspan="1" style="vertical-align:bottom;width:1%;vertical-align:bottom"> <div style="line-height:1.25"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">$</span></span></div> </td> <td colspan="1" style="vertical-align:bottom;text-align:right;width:9%;vertical-align:bottom"> <div style="line-height:1.25">26,510</div> </td> <td colspan="1" style="vertical-align:bottom;width:1%;vertical-align:bottom;white-space:nowrap"> </td> <td colspan="1" style="vertical-align:bottom;width:1%;vertical-align:bottom"> </td> <td colspan="1" style="vertical-align:bottom;width:1%;vertical-align:bottom"> <div style="line-height:1.25"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">$</span></span></div> </td> <td colspan="1" style="vertical-align:bottom;text-align:right;width:9%;vertical-align:bottom"> <div style="line-height:1.25">24,206</div> </td> </tr> </table> </div> </div> </div> <div style="line-height:1.25;font-family:'Times New Roman'"> <div style="text-align:justify;text-indent:0.3pt;margin-left:78pt;line-height:1.25"><br/><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>Stock-based compensation expenses were recognized in the Statement of Operations for the years ended December 31, 2025, 2024 and 2023 as follows:</span></span></span></span></div> <div style="text-align:justify;text-indent:0.3pt;margin-left:78pt;line-height:1.25"> </div> </div> <div> <div> <div> <div style="margin-left:99pt"> <table border="0" cellpadding="0" cellspacing="0" style="width:85%;color:#000000;font-family:'Times New Roman', Times, serif;font-size:10pt;text-align:left"> <tr> <td style="vertical-align:middle;padding-bottom:2px;vertical-align:bottom"> <div style="text-align:justify;line-height:1.25"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span style="text-decoration:underline">Details</span></span></span></div> </td> <td colspan="1" style="vertical-align:bottom;padding-bottom:2px;vertical-align:bottom"> </td> <td colspan="2" style="vertical-align:middle;border-bottom:#000000 solid 2px;vertical-align:bottom"> <div style="text-align:center;line-height:1.25"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">2025</span></span></div> </td> <td colspan="1" style="vertical-align:bottom;padding-bottom:2px;vertical-align:bottom;white-space:nowrap"> </td> <td colspan="1" style="vertical-align:bottom;padding-bottom:2px;vertical-align:bottom"> </td> <td colspan="2" style="vertical-align:middle;border-bottom:#000000 solid 2px;vertical-align:bottom"> <div style="text-align:center;line-height:1.25"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">2024</span></span></div> </td> <td colspan="1" style="vertical-align:bottom;padding-bottom:2px;vertical-align:bottom;white-space:nowrap"> </td> <td colspan="1" style="vertical-align:bottom;padding-bottom:2px;vertical-align:bottom"> </td> <td colspan="2" style="vertical-align:middle;border-bottom:#000000 solid 2px;vertical-align:bottom"> <div style="text-align:center;line-height:1.25"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">2023</span></span></div> </td> <td colspan="1" style="vertical-align:bottom;padding-bottom:2px;vertical-align:bottom;white-space:nowrap"> </td> </tr> <tr> <td style="vertical-align:middle;width:64%;background-color:rgb(204, 238, 255);vertical-align:bottom"> <div style="text-align:justify;line-height:1.25"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">Cost of goods</span></span></div> </td> <td colspan="1" style="vertical-align:bottom;width:1%;background-color:rgb(204, 238, 255);vertical-align:bottom"> </td> <td colspan="1" style="vertical-align:bottom;width:1%;background-color:rgb(204, 238, 255);vertical-align:bottom"> <div style="line-height:1.25"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">$</span></span></div> </td> <td colspan="1" style="vertical-align:bottom;text-align:right;width:9%;background-color:rgb(204, 238, 255);vertical-align:bottom"> <div style="line-height:1.25">8,256</div> </td> <td colspan="1" style="vertical-align:bottom;width:1%;background-color:rgb(204, 238, 255);vertical-align:bottom;white-space:nowrap"> </td> <td colspan="1" style="vertical-align:bottom;width:1%;background-color:rgb(204, 238, 255);vertical-align:bottom"> </td> <td colspan="1" style="vertical-align:bottom;width:1%;background-color:rgb(204, 238, 255);vertical-align:bottom"> <div style="line-height:1.25"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">$</span></span></div> </td> <td colspan="1" style="vertical-align:bottom;text-align:right;width:9%;background-color:rgb(204, 238, 255);vertical-align:bottom"> <div style="line-height:1.25">8,764</div> </td> <td colspan="1" style="vertical-align:bottom;width:1%;background-color:rgb(204, 238, 255);vertical-align:bottom;white-space:nowrap"> </td> <td colspan="1" style="vertical-align:bottom;width:1%;background-color:rgb(204, 238, 255);vertical-align:bottom"> </td> <td colspan="1" style="vertical-align:bottom;width:1%;background-color:rgb(204, 238, 255);vertical-align:bottom"> <div style="line-height:1.25"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">$</span></span></div> </td> <td colspan="1" style="vertical-align:bottom;text-align:right;width:9%;background-color:rgb(204, 238, 255);vertical-align:bottom"> <div style="line-height:1.25">8,332</div> </td> <td colspan="1" style="vertical-align:bottom;width:1%;background-color:rgb(204, 238, 255);vertical-align:bottom;white-space:nowrap"> </td> </tr> <tr> <td style="vertical-align:middle;width:64%;vertical-align:bottom"> <div style="text-align:justify;line-height:1.25"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">Research and development, net</span></span></div> </td> <td colspan="1" style="vertical-align:bottom;width:1%;vertical-align:bottom"> </td> <td colspan="1" style="vertical-align:bottom;width:1%;vertical-align:bottom"> </td> <td colspan="1" style="vertical-align:bottom;text-align:right;width:9%;vertical-align:bottom"> <div style="line-height:1.25">7,984</div> </td> <td colspan="1" style="vertical-align:bottom;width:1%;vertical-align:bottom;white-space:nowrap"> </td> <td colspan="1" style="vertical-align:bottom;width:1%;vertical-align:bottom"> </td> <td colspan="1" style="vertical-align:bottom;width:1%;vertical-align:bottom"> </td> <td colspan="1" style="vertical-align:bottom;text-align:right;width:9%;vertical-align:bottom"> <div style="line-height:1.25">7,422</div> </td> <td colspan="1" style="vertical-align:bottom;width:1%;vertical-align:bottom;white-space:nowrap"> </td> <td colspan="1" style="vertical-align:bottom;width:1%;vertical-align:bottom"> </td> <td colspan="1" style="vertical-align:bottom;width:1%;vertical-align:bottom"> </td> <td colspan="1" style="vertical-align:bottom;text-align:right;width:9%;vertical-align:bottom"> <div style="line-height:1.25">5,639</div> </td> <td colspan="1" style="vertical-align:bottom;width:1%;vertical-align:bottom;white-space:nowrap"> </td> </tr> <tr> <td style="vertical-align:middle;width:64%;padding-bottom:2px;background-color:rgb(204, 238, 255);vertical-align:bottom"> <div style="text-align:justify;line-height:1.25"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">Marketing, general and administrative</span></span></div> </td> <td colspan="1" style="vertical-align:bottom;width:1%;padding-bottom:2px;background-color:rgb(204, 238, 255);vertical-align:bottom"> </td> <td colspan="1" style="vertical-align:bottom;width:1%;border-bottom:2px solid rgb(0, 0, 0);background-color:rgb(204, 238, 255);vertical-align:bottom"> </td> <td colspan="1" style="vertical-align:bottom;text-align:right;width:9%;border-bottom:2px solid rgb(0, 0, 0);background-color:rgb(204, 238, 255);vertical-align:bottom"> <div style="line-height:1.25">21,528</div> </td> <td colspan="1" style="vertical-align:bottom;width:1%;padding-bottom:2px;background-color:rgb(204, 238, 255);vertical-align:bottom;white-space:nowrap"> </td> <td colspan="1" style="vertical-align:bottom;width:1%;padding-bottom:2px;background-color:rgb(204, 238, 255);vertical-align:bottom"> </td> <td colspan="1" style="vertical-align:bottom;width:1%;border-bottom:2px solid rgb(0, 0, 0);background-color:rgb(204, 238, 255);vertical-align:bottom"> </td> <td colspan="1" style="vertical-align:bottom;text-align:right;width:9%;border-bottom:2px solid rgb(0, 0, 0);background-color:rgb(204, 238, 255);vertical-align:bottom"> <div style="line-height:1.25">17,651</div> </td> <td colspan="1" style="vertical-align:bottom;width:1%;padding-bottom:2px;background-color:rgb(204, 238, 255);vertical-align:bottom;white-space:nowrap"> </td> <td colspan="1" style="vertical-align:bottom;width:1%;padding-bottom:2px;background-color:rgb(204, 238, 255);vertical-align:bottom"> </td> <td colspan="1" style="vertical-align:bottom;width:1%;border-bottom:2px solid rgb(0, 0, 0);background-color:rgb(204, 238, 255);vertical-align:bottom"> </td> <td colspan="1" style="vertical-align:bottom;text-align:right;width:9%;border-bottom:2px solid rgb(0, 0, 0);background-color:rgb(204, 238, 255);vertical-align:bottom"> <div style="line-height:1.25">13,960</div> </td> <td colspan="1" style="vertical-align:bottom;width:1%;padding-bottom:2px;background-color:rgb(204, 238, 255);vertical-align:bottom;white-space:nowrap"> </td> </tr> <tr> <td style="vertical-align:middle;width:64%;padding-bottom:4px;vertical-align:bottom"> <div style="text-align:justify;line-height:1.25"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">Total stock-based compensation expense</span></span></div> </td> <td colspan="1" style="vertical-align:bottom;width:1%;padding-bottom:4px;vertical-align:bottom"> </td> <td colspan="1" style="vertical-align:bottom;width:1%;border-bottom:4px double rgb(0, 0, 0);vertical-align:bottom"> <div style="line-height:1.25"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">$</span></span></div> </td> <td colspan="1" style="vertical-align:bottom;text-align:right;width:9%;border-bottom:4px double rgb(0, 0, 0);vertical-align:bottom"> <div style="line-height:1.25">37,768</div> </td> <td colspan="1" style="vertical-align:bottom;width:1%;padding-bottom:4px;vertical-align:bottom;white-space:nowrap"> </td> <td colspan="1" style="vertical-align:bottom;width:1%;padding-bottom:4px;vertical-align:bottom"> </td> <td colspan="1" style="vertical-align:bottom;width:1%;border-bottom:4px double rgb(0, 0, 0);vertical-align:bottom"> <div style="line-height:1.25"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">$</span></span></div> </td> <td colspan="1" style="vertical-align:bottom;text-align:right;width:9%;border-bottom:4px double rgb(0, 0, 0);vertical-align:bottom"> <div style="line-height:1.25">33,837</div> </td> <td colspan="1" style="vertical-align:bottom;width:1%;padding-bottom:4px;vertical-align:bottom;white-space:nowrap"> </td> <td colspan="1" style="vertical-align:bottom;width:1%;padding-bottom:4px;vertical-align:bottom"> </td> <td colspan="1" style="vertical-align:bottom;width:1%;border-bottom:4px double rgb(0, 0, 0);vertical-align:bottom"> <div style="line-height:1.25"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">$</span></span></div> </td> <td colspan="1" style="vertical-align:bottom;text-align:right;width:9%;border-bottom:4px double rgb(0, 0, 0);vertical-align:bottom"> <div style="line-height:1.25">27,931</div> </td> <td colspan="1" style="vertical-align:bottom;width:1%;padding-bottom:4px;vertical-align:bottom;white-space:nowrap"> </td> </tr> </table> </div> </div> </div> </div> <div style="line-height:1.25;font-family:'Times New Roman';clear:both"> </div> <div></div> <div> <div style="text-align:justify;line-height:1.25"> <div style="line-height:1.25"> <div style="line-height:1.25"> <div style="line-height:1.25"> <div> <div style="line-height:1.25"> <table border="0" cellpadding="0" cellspacing="0" style="font-family:'Times New Roman', Times, serif;font-size:10pt;color:#000000;width:100%"> <tr> <td style="width:56pt"> <div> </div> </td> <td style="font-weight:bold;width:22pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">C.</span></span></td> <td style="font-weight:bold;width:auto"> <div> <div style="font-weight:bold"> <div style="font-weight:bold"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span style="font-weight:bold">Treasury Stock</span></span></span></div> </div> </div> </td> </tr> </table> </div> </div> </div> </div> </div> </div> <div style="line-height:1.25"> <div style="line-height:1.25"> <table border="0" cellpadding="0" cellspacing="0" style="font-family:'Times New Roman', Times, serif;font-size:10pt;color:#000000;width:100%"> <tr> <td style="width:56pt"> </td> <td style="font-weight:bold;width:22pt"> </td> <td style="font-weight:normal;width:auto"> </td> </tr> <tr> <td style="width:56pt"> <div> </div> </td> <td style="font-weight:bold;width:22pt"> </td> <td style="font-weight:normal;width:auto"> <div> <div> <div> <div style="text-align:justify;line-height:1.25"> <div style="line-height:1.25"> <div style="line-height:1.25"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">During 1999 and 1998, the Company funded the purchase by a trustee of an aggregate of approximately 87 thousand ordinary Tower shares. These shares are classified as treasury shares.</span></span></div> </div> </div> </div> </div> </div> </td> </tr> </table> </div> </div> </div> </div> </div> </div> 150000000 15 112500000 780000 1580000 P3Y P3Y 73000 132000 44000 0.33 0.33 0.33 P3Y P3Y P3Y 12000000 6300 300000 0.33 P3Y 4200 200000 P2Y 0.50 0.50 78000 176000 256000 0.33 0.33 0.33 P3Y P3Y P3Y 16500000 7400 300000 0.33 P3Y 4900 200000 P2Y 0.50 0.50 <div> <div> <div> <div style="margin-left:99pt"> <table border="0" cellpadding="0" cellspacing="0" style="width:85%;color:#000000;font-family:'Times New Roman', Times, serif;font-size:10pt;text-align:left"> <tr> <td style="vertical-align:middle;padding-bottom:2px;vertical-align:bottom"> </td> <td colspan="1" style="vertical-align:bottom;padding-bottom:2px;vertical-align:bottom"> </td> <td colspan="6" style="vertical-align:middle;border-bottom:#000000 solid 2px;vertical-align:bottom"> <div style="text-align:center;line-height:1.25"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">2025</span></span></div> </td> <td colspan="1" style="vertical-align:bottom;padding-bottom:2px;vertical-align:bottom;white-space:nowrap"> </td> <td colspan="1" style="vertical-align:bottom;padding-bottom:2px;vertical-align:bottom"> </td> <td colspan="6" style="vertical-align:middle;border-bottom:#000000 solid 2px;vertical-align:bottom"> <div style="text-align:center;line-height:1.25"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">2024</span></span></div> </td> <td colspan="1" style="vertical-align:bottom;padding-bottom:2px;vertical-align:bottom;white-space:nowrap"> </td> <td colspan="1" style="vertical-align:bottom;padding-bottom:2px;vertical-align:bottom"> </td> <td colspan="6" style="vertical-align:middle;border-bottom:#000000 solid 2px;vertical-align:bottom"> <div style="text-align:center;line-height:1.25"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">2023</span></span></div> </td> <td colspan="1" style="vertical-align:bottom;padding-bottom:2px;vertical-align:bottom;white-space:nowrap"> </td> </tr> <tr> <td style="vertical-align:bottom;padding-bottom:2px"> <div style="line-height:1.25;font-weight:bold"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span style="text-decoration:underline">Details</span></span></span></div> </td> <td colspan="1" style="vertical-align:bottom;padding-bottom:2px;vertical-align:bottom"> </td> <td colspan="2" style="vertical-align:bottom;border-bottom:2px solid rgb(0, 0, 0);text-align:center"> <div style="line-height:1.25;font-weight:bold"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">Number of RSUs</span></span></div> </td> <td colspan="1" style="text-align:center;vertical-align:bottom;padding-bottom:2px;white-space:nowrap"> </td> <td colspan="1" style="vertical-align:bottom;padding-bottom:2px;text-align:center"> </td> <td colspan="2" style="vertical-align:bottom;border-bottom:2px solid rgb(0, 0, 0);text-align:center"> <div style="line-height:1.25;font-weight:bold"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">Weighted average fair value</span></span></div> </td> <td colspan="1" style="text-align:center;vertical-align:bottom;padding-bottom:2px;white-space:nowrap"> </td> <td colspan="1" style="vertical-align:bottom;padding-bottom:2px;text-align:center"> </td> <td colspan="2" style="vertical-align:bottom;border-bottom:2px solid rgb(0, 0, 0);text-align:center"> <div style="line-height:1.25;font-weight:bold"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">Number of RSUs</span></span></div> </td> <td colspan="1" style="text-align:center;vertical-align:bottom;padding-bottom:2px;white-space:nowrap"> </td> <td colspan="1" style="vertical-align:bottom;padding-bottom:2px;text-align:center"> </td> <td colspan="2" style="vertical-align:bottom;border-bottom:2px solid rgb(0, 0, 0);text-align:center"> <div style="line-height:1.25;font-weight:bold"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">Weighted average fair value</span></span></div> </td> <td colspan="1" style="text-align:center;vertical-align:bottom;padding-bottom:2px;white-space:nowrap"> </td> <td colspan="1" style="vertical-align:bottom;padding-bottom:2px;text-align:center"> </td> <td colspan="2" style="vertical-align:bottom;border-bottom:2px solid rgb(0, 0, 0);text-align:center"> <div style="line-height:1.25;font-weight:bold"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">Number of RSUs</span></span></div> </td> <td colspan="1" style="text-align:center;vertical-align:bottom;padding-bottom:2px;white-space:nowrap"> </td> <td colspan="1" style="vertical-align:bottom;padding-bottom:2px;text-align:center"> </td> <td colspan="2" style="vertical-align:bottom;border-bottom:2px solid rgb(0, 0, 0);text-align:center"> <div style="line-height:1.25;font-weight:bold"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">Weighted average fair value</span></span></div> </td> <td colspan="1" style="vertical-align:bottom;padding-bottom:2px;vertical-align:bottom;white-space:nowrap"> </td> </tr> <tr> <td style="vertical-align:middle;width:28%;background-color:rgb(204, 238, 255);vertical-align:bottom"> <div style="line-height:1.25"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">Outstanding as of beginning of year</span></span></div> </td> <td colspan="1" style="vertical-align:bottom;width:1%;background-color:rgb(204, 238, 255);vertical-align:bottom"> </td> <td colspan="1" style="vertical-align:bottom;width:1%;background-color:rgb(204, 238, 255);vertical-align:bottom"> </td> <td colspan="1" style="vertical-align:bottom;text-align:right;width:9%;background-color:rgb(204, 238, 255);vertical-align:bottom"> <div style="line-height:1.25">2,398,135</div> </td> <td colspan="1" style="vertical-align:bottom;width:1%;background-color:rgb(204, 238, 255);vertical-align:bottom;white-space:nowrap"> </td> <td colspan="1" style="vertical-align:bottom;width:1%;background-color:rgb(204, 238, 255);vertical-align:bottom"> </td> <td colspan="1" style="vertical-align:bottom;width:1%;background-color:rgb(204, 238, 255);vertical-align:bottom"> <div style="line-height:1.25"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">$</span></span></div> </td> <td colspan="1" style="vertical-align:bottom;text-align:right;width:9%;background-color:rgb(204, 238, 255);vertical-align:bottom"> <div style="line-height:1.25">34.51</div> </td> <td colspan="1" style="vertical-align:bottom;width:1%;background-color:rgb(204, 238, 255);vertical-align:bottom;white-space:nowrap"> </td> <td colspan="1" style="vertical-align:bottom;width:1%;background-color:rgb(204, 238, 255);vertical-align:bottom"> </td> <td colspan="1" style="vertical-align:bottom;width:1%;background-color:rgb(204, 238, 255);vertical-align:bottom"> </td> <td colspan="1" style="vertical-align:bottom;text-align:right;width:9%;background-color:rgb(204, 238, 255);vertical-align:bottom"> <div style="line-height:1.25">1,585,560</div> </td> <td colspan="1" style="vertical-align:bottom;width:1%;background-color:rgb(204, 238, 255);vertical-align:bottom;white-space:nowrap"> </td> <td colspan="1" style="vertical-align:bottom;width:1%;background-color:rgb(204, 238, 255);vertical-align:bottom"> </td> <td colspan="1" style="vertical-align:bottom;width:1%;background-color:rgb(204, 238, 255);vertical-align:bottom"> <div style="line-height:1.25"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">$</span></span></div> </td> <td colspan="1" style="vertical-align:bottom;text-align:right;width:9%;background-color:rgb(204, 238, 255);vertical-align:bottom"> <div style="line-height:1.25">38.10</div> </td> <td colspan="1" style="vertical-align:bottom;width:1%;background-color:rgb(204, 238, 255);vertical-align:bottom;white-space:nowrap"> </td> <td colspan="1" style="vertical-align:bottom;width:1%;background-color:rgb(204, 238, 255);vertical-align:bottom"> </td> <td colspan="1" style="vertical-align:bottom;width:1%;background-color:rgb(204, 238, 255);vertical-align:bottom"> </td> <td colspan="1" style="vertical-align:bottom;text-align:right;width:9%;background-color:rgb(204, 238, 255);vertical-align:bottom"> <div style="line-height:1.25">1,712,996</div> </td> <td colspan="1" style="vertical-align:bottom;width:1%;background-color:rgb(204, 238, 255);vertical-align:bottom;white-space:nowrap"> </td> <td colspan="1" style="vertical-align:bottom;width:1%;background-color:rgb(204, 238, 255);vertical-align:bottom"> </td> <td colspan="1" style="vertical-align:bottom;width:1%;background-color:rgb(204, 238, 255);vertical-align:bottom"> <div style="line-height:1.25"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">$</span></span></div> </td> <td colspan="1" style="vertical-align:bottom;text-align:right;width:9%;background-color:rgb(204, 238, 255);vertical-align:bottom"> <div style="line-height:1.25">32.90</div> </td> <td colspan="1" style="vertical-align:bottom;width:1%;background-color:rgb(204, 238, 255);vertical-align:bottom;white-space:nowrap"> </td> </tr> <tr> <td style="vertical-align:middle;width:28%;vertical-align:bottom"> <div style="line-height:1.25"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">Granted</span></span></div> </td> <td colspan="1" style="vertical-align:bottom;width:1%;vertical-align:bottom"> </td> <td colspan="1" style="vertical-align:bottom;width:1%;vertical-align:bottom"> </td> <td colspan="1" style="vertical-align:bottom;text-align:right;width:9%;vertical-align:bottom"> <div style="line-height:1.25">781,952</div> </td> <td colspan="1" style="vertical-align:bottom;width:1%;vertical-align:bottom;white-space:nowrap"> </td> <td colspan="1" style="vertical-align:bottom;width:1%;vertical-align:bottom"> </td> <td colspan="1" style="vertical-align:bottom;width:1%;vertical-align:bottom"> <div style="line-height:1.25"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">$</span></span></div> </td> <td colspan="1" style="vertical-align:bottom;text-align:right;width:9%;vertical-align:bottom"> <div style="line-height:1.25">46.37</div> </td> <td colspan="1" style="vertical-align:bottom;width:1%;vertical-align:bottom;white-space:nowrap"> </td> <td colspan="1" style="vertical-align:bottom;width:1%;vertical-align:bottom"> </td> <td colspan="1" style="vertical-align:bottom;width:1%;vertical-align:bottom"> </td> <td colspan="1" style="vertical-align:bottom;text-align:right;width:9%;vertical-align:bottom"> <div style="line-height:1.25">1,581,492</div> </td> <td colspan="1" style="vertical-align:bottom;width:1%;vertical-align:bottom;white-space:nowrap"> </td> <td colspan="1" style="vertical-align:bottom;width:1%;vertical-align:bottom"> </td> <td colspan="1" style="vertical-align:bottom;width:1%;vertical-align:bottom"> <div style="line-height:1.25"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">$</span></span></div> </td> <td colspan="1" style="vertical-align:bottom;text-align:right;width:9%;vertical-align:bottom"> <div style="line-height:1.25">31.89</div> </td> <td colspan="1" style="vertical-align:bottom;width:1%;vertical-align:bottom;white-space:nowrap"> </td> <td colspan="1" style="vertical-align:bottom;width:1%;vertical-align:bottom"> </td> <td colspan="1" style="vertical-align:bottom;width:1%;vertical-align:bottom"> </td> <td colspan="1" style="vertical-align:bottom;text-align:right;width:9%;vertical-align:bottom"> <div style="line-height:1.25">797,241</div> </td> <td colspan="1" style="vertical-align:bottom;width:1%;vertical-align:bottom;white-space:nowrap"> </td> <td colspan="1" style="vertical-align:bottom;width:1%;vertical-align:bottom"> </td> <td colspan="1" style="vertical-align:bottom;width:1%;vertical-align:bottom"> <div style="line-height:1.25"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">$</span></span></div> </td> <td colspan="1" style="vertical-align:bottom;text-align:right;width:9%;vertical-align:bottom"> <div style="line-height:1.25">37.64</div> </td> <td colspan="1" style="vertical-align:bottom;width:1%;vertical-align:bottom;white-space:nowrap"> </td> </tr> <tr> <td style="vertical-align:middle;width:28%;background-color:rgb(204, 238, 255);vertical-align:bottom"> <div style="line-height:1.25"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">Converted</span></span></div> </td> <td colspan="1" style="vertical-align:bottom;width:1%;background-color:rgb(204, 238, 255);vertical-align:bottom"> </td> <td colspan="1" style="vertical-align:bottom;width:1%;background-color:rgb(204, 238, 255);vertical-align:bottom"> </td> <td colspan="1" style="vertical-align:bottom;text-align:right;width:9%;background-color:rgb(204, 238, 255);vertical-align:bottom"> <div style="line-height:1.25">(983,643</div> </td> <td colspan="1" style="vertical-align:bottom;width:1%;background-color:rgb(204, 238, 255);vertical-align:bottom;white-space:nowrap"> <div style="line-height:1.25"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">)</span></span></div> </td> <td colspan="1" style="vertical-align:bottom;width:1%;background-color:rgb(204, 238, 255);vertical-align:bottom"> </td> <td colspan="1" style="vertical-align:bottom;width:1%;background-color:rgb(204, 238, 255);vertical-align:bottom"> <div style="line-height:1.25"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">$</span></span></div> </td> <td colspan="1" style="vertical-align:bottom;text-align:right;width:9%;background-color:rgb(204, 238, 255);vertical-align:bottom"> <div style="line-height:1.25">35.62</div> </td> <td colspan="1" style="vertical-align:bottom;width:1%;background-color:rgb(204, 238, 255);vertical-align:bottom;white-space:nowrap"> </td> <td colspan="1" style="vertical-align:bottom;width:1%;background-color:rgb(204, 238, 255);vertical-align:bottom"> </td> <td colspan="1" style="vertical-align:bottom;width:1%;background-color:rgb(204, 238, 255);vertical-align:bottom"> </td> <td colspan="1" style="vertical-align:bottom;text-align:right;width:9%;background-color:rgb(204, 238, 255);vertical-align:bottom"> <div style="line-height:1.25">(726,007</div> </td> <td colspan="1" style="vertical-align:bottom;width:1%;background-color:rgb(204, 238, 255);vertical-align:bottom;white-space:nowrap"> <div style="line-height:1.25"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">)</span></span></div> </td> <td colspan="1" style="vertical-align:bottom;width:1%;background-color:rgb(204, 238, 255);vertical-align:bottom"> </td> <td colspan="1" style="vertical-align:bottom;width:1%;background-color:rgb(204, 238, 255);vertical-align:bottom"> <div style="line-height:1.25"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">$</span></span></div> </td> <td colspan="1" style="vertical-align:bottom;text-align:right;width:9%;background-color:rgb(204, 238, 255);vertical-align:bottom"> <div style="line-height:1.25">36.52</div> </td> <td colspan="1" style="vertical-align:bottom;width:1%;background-color:rgb(204, 238, 255);vertical-align:bottom;white-space:nowrap"> </td> <td colspan="1" style="vertical-align:bottom;width:1%;background-color:rgb(204, 238, 255);vertical-align:bottom"> </td> <td colspan="1" style="vertical-align:bottom;width:1%;background-color:rgb(204, 238, 255);vertical-align:bottom"> </td> <td colspan="1" style="vertical-align:bottom;text-align:right;width:9%;background-color:rgb(204, 238, 255);vertical-align:bottom"> <div style="line-height:1.25">(870,720</div> </td> <td colspan="1" style="vertical-align:bottom;width:1%;background-color:rgb(204, 238, 255);vertical-align:bottom;white-space:nowrap"> <div style="line-height:1.25"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">)</span></span></div> </td> <td colspan="1" style="vertical-align:bottom;width:1%;background-color:rgb(204, 238, 255);vertical-align:bottom"> </td> <td colspan="1" style="vertical-align:bottom;width:1%;background-color:rgb(204, 238, 255);vertical-align:bottom"> <div style="line-height:1.25"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">$</span></span></div> </td> <td colspan="1" style="vertical-align:bottom;text-align:right;width:9%;background-color:rgb(204, 238, 255);vertical-align:bottom"> <div style="line-height:1.25">27.80</div> </td> <td colspan="1" style="vertical-align:bottom;width:1%;background-color:rgb(204, 238, 255);vertical-align:bottom;white-space:nowrap"> </td> </tr> <tr> <td style="vertical-align:middle;width:28%;padding-bottom:2px;vertical-align:bottom"> <div style="line-height:1.25"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">Forfeited</span></span></div> </td> <td colspan="1" style="vertical-align:bottom;width:1%;padding-bottom:2px;vertical-align:bottom"> </td> <td colspan="1" style="vertical-align:bottom;width:1%;border-bottom:2px solid rgb(0, 0, 0);vertical-align:bottom"> </td> <td colspan="1" style="vertical-align:bottom;text-align:right;width:9%;border-bottom:2px solid rgb(0, 0, 0);vertical-align:bottom"> <div style="line-height:1.25">(49,820</div> </td> <td colspan="1" style="vertical-align:bottom;width:1%;padding-bottom:2px;vertical-align:bottom;white-space:nowrap"> <div style="line-height:1.25"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">)</span></span></div> </td> <td colspan="1" style="vertical-align:bottom;width:1%;padding-bottom:2px;vertical-align:bottom"> </td> <td colspan="1" style="vertical-align:bottom;width:1%;padding-bottom:2px;vertical-align:bottom"> <div style="line-height:1.25"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">$</span></span></div> </td> <td colspan="1" style="vertical-align:bottom;text-align:right;width:9%;padding-bottom:2px;vertical-align:bottom"> <div style="line-height:1.25">36.87</div> </td> <td colspan="1" style="vertical-align:bottom;width:1%;padding-bottom:2px;vertical-align:bottom;white-space:nowrap"> </td> <td colspan="1" style="vertical-align:bottom;width:1%;padding-bottom:2px;vertical-align:bottom"> </td> <td colspan="1" style="vertical-align:bottom;width:1%;border-bottom:2px solid rgb(0, 0, 0);vertical-align:bottom"> </td> <td colspan="1" style="vertical-align:bottom;text-align:right;width:9%;border-bottom:2px solid rgb(0, 0, 0);vertical-align:bottom"> <div style="line-height:1.25">(42,910</div> </td> <td colspan="1" style="vertical-align:bottom;width:1%;padding-bottom:2px;vertical-align:bottom;white-space:nowrap"> <div style="line-height:1.25"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">)</span></span></div> </td> <td colspan="1" style="vertical-align:bottom;width:1%;padding-bottom:2px;vertical-align:bottom"> </td> <td colspan="1" style="vertical-align:bottom;width:1%;padding-bottom:2px;vertical-align:bottom"> <div style="line-height:1.25"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">$</span></span></div> </td> <td colspan="1" style="vertical-align:bottom;text-align:right;width:9%;padding-bottom:2px;vertical-align:bottom"> <div style="line-height:1.25">36.96</div> </td> <td colspan="1" style="vertical-align:bottom;width:1%;padding-bottom:2px;vertical-align:bottom;white-space:nowrap"> </td> <td colspan="1" style="vertical-align:bottom;width:1%;padding-bottom:2px;vertical-align:bottom"> </td> <td colspan="1" style="vertical-align:bottom;width:1%;border-bottom:2px solid rgb(0, 0, 0);vertical-align:bottom"> </td> <td colspan="1" style="vertical-align:bottom;text-align:right;width:9%;border-bottom:2px solid rgb(0, 0, 0);vertical-align:bottom"> <div style="line-height:1.25">(53,957</div> </td> <td colspan="1" style="vertical-align:bottom;width:1%;padding-bottom:2px;vertical-align:bottom;white-space:nowrap"> <div style="line-height:1.25"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">)</span></span></div> </td> <td colspan="1" style="vertical-align:bottom;width:1%;padding-bottom:2px;vertical-align:bottom"> </td> <td colspan="1" style="vertical-align:bottom;width:1%;padding-bottom:2px;vertical-align:bottom"> <div style="line-height:1.25"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">$</span></span></div> </td> <td colspan="1" style="vertical-align:bottom;text-align:right;width:9%;padding-bottom:2px;vertical-align:bottom"> <div style="line-height:1.25">32.49</div> </td> <td colspan="1" style="vertical-align:bottom;width:1%;padding-bottom:2px;vertical-align:bottom;white-space:nowrap"> </td> </tr> <tr> <td style="vertical-align:middle;width:28%;padding-bottom:4px;background-color:rgb(204, 238, 255);vertical-align:bottom"> <div style="line-height:1.25"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">Outstanding as of end of year (*)</span></span></div> </td> <td colspan="1" style="vertical-align:bottom;width:1%;padding-bottom:4px;background-color:rgb(204, 238, 255);vertical-align:bottom"> </td> <td colspan="1" style="vertical-align:bottom;width:1%;border-bottom:4px double rgb(0, 0, 0);background-color:rgb(204, 238, 255);vertical-align:bottom"> </td> <td colspan="1" style="vertical-align:bottom;text-align:right;width:9%;border-bottom:4px double rgb(0, 0, 0);background-color:rgb(204, 238, 255);vertical-align:bottom"> <div style="line-height:1.25">2,146,624</div> </td> <td colspan="1" style="vertical-align:bottom;width:1%;padding-bottom:4px;background-color:rgb(204, 238, 255);vertical-align:bottom;white-space:nowrap"> </td> <td colspan="1" style="vertical-align:bottom;width:1%;padding-bottom:4px;background-color:rgb(204, 238, 255);vertical-align:bottom"> </td> <td colspan="1" style="vertical-align:bottom;width:1%;background-color:rgb(204, 238, 255);padding-bottom:4px;vertical-align:bottom"> <div style="line-height:1.25"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">$</span></span></div> </td> <td colspan="1" style="vertical-align:bottom;text-align:right;width:9%;background-color:rgb(204, 238, 255);padding-bottom:4px;vertical-align:bottom"> <div style="line-height:1.25">38.26</div> </td> <td colspan="1" style="vertical-align:bottom;width:1%;padding-bottom:4px;background-color:rgb(204, 238, 255);vertical-align:bottom;white-space:nowrap"> </td> <td colspan="1" style="vertical-align:bottom;width:1%;padding-bottom:4px;background-color:rgb(204, 238, 255);vertical-align:bottom"> </td> <td colspan="1" style="vertical-align:bottom;width:1%;border-bottom:4px double rgb(0, 0, 0);background-color:rgb(204, 238, 255);vertical-align:bottom"> </td> <td colspan="1" style="vertical-align:bottom;text-align:right;width:9%;border-bottom:4px double rgb(0, 0, 0);background-color:rgb(204, 238, 255);vertical-align:bottom"> <div style="line-height:1.25">2,398,135</div> </td> <td colspan="1" style="vertical-align:bottom;width:1%;padding-bottom:4px;background-color:rgb(204, 238, 255);vertical-align:bottom;white-space:nowrap"> </td> <td colspan="1" style="vertical-align:bottom;width:1%;padding-bottom:4px;background-color:rgb(204, 238, 255);vertical-align:bottom"> </td> <td colspan="1" style="vertical-align:bottom;width:1%;background-color:rgb(204, 238, 255);padding-bottom:4px;vertical-align:bottom"> <div style="line-height:1.25"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">$</span></span></div> </td> <td colspan="1" style="vertical-align:bottom;text-align:right;width:9%;background-color:rgb(204, 238, 255);padding-bottom:4px;vertical-align:bottom"> <div style="line-height:1.25">34.51</div> </td> <td colspan="1" style="vertical-align:bottom;width:1%;padding-bottom:4px;background-color:rgb(204, 238, 255);vertical-align:bottom;white-space:nowrap"> </td> <td colspan="1" style="vertical-align:bottom;width:1%;padding-bottom:4px;background-color:rgb(204, 238, 255);vertical-align:bottom"> </td> <td colspan="1" style="vertical-align:bottom;width:1%;border-bottom:4px double rgb(0, 0, 0);background-color:rgb(204, 238, 255);vertical-align:bottom"> </td> <td colspan="1" style="vertical-align:bottom;text-align:right;width:9%;border-bottom:4px double rgb(0, 0, 0);background-color:rgb(204, 238, 255);vertical-align:bottom"> <div style="line-height:1.25">1,585,560</div> </td> <td colspan="1" style="vertical-align:bottom;width:1%;padding-bottom:4px;background-color:rgb(204, 238, 255);vertical-align:bottom;white-space:nowrap"> </td> <td colspan="1" style="vertical-align:bottom;width:1%;padding-bottom:4px;background-color:rgb(204, 238, 255);vertical-align:bottom"> </td> <td colspan="1" style="vertical-align:bottom;width:1%;background-color:rgb(204, 238, 255);padding-bottom:4px;vertical-align:bottom"> <div style="line-height:1.25"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">$</span></span></div> </td> <td colspan="1" style="vertical-align:bottom;text-align:right;width:9%;background-color:rgb(204, 238, 255);padding-bottom:4px;vertical-align:bottom"> <div style="line-height:1.25">38.10</div> </td> <td colspan="1" style="vertical-align:bottom;width:1%;padding-bottom:4px;background-color:rgb(204, 238, 255);vertical-align:bottom;white-space:nowrap"> </td> </tr> </table> </div> <div style="line-height:1.25;clear:both"> <div style="line-height:1.25"> <div style="line-height:1.25"> <div style="line-height:1.25"> <div> <div style="line-height:1.25"> <div> </div> <table border="0" cellpadding="0" cellspacing="0" style="font-family:'Times New Roman', Times, serif;font-size:10pt;color:#000000;width:100%"> <tr> <td style="width:56pt"> <div> </div> </td> <td style="font-weight:bold;width:22pt"> </td> <td style="font-weight:normal;width:auto"> <div> <div> <div> <div style="text-align:justify;line-height:1.25"> <div style="line-height:1.25"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">(*) Include (i) 717,148, 736,014 and 559,184 PSUs as of December 31, 2025, 2024 and 2023, respectively and (ii) 535,809 and 649,249 MSUs as of December 31, 2025 and 2024, respectively.</span></span></div> </div> </div> </div> </div> </td> </tr> </table> </div> </div> </div> </div> </div> </div> </div> </div> </div> 2398135 34.51 1585560 38.1 1712996 32.9 781952 46.37 1581492 31.89 797241 37.64 983643 35.62 726007 36.52 870720 27.8 49820 36.87 42910 36.96 53957 32.49 2146624 38.26 2398135 34.51 1585560 38.1 717148 736014 559184 535809 649249 <div> <div style="margin-left:99pt"> <table border="0" cellpadding="0" cellspacing="0" style="width:85%;color:#000000;font-family:'Times New Roman', Times, serif;font-size:10pt;text-align:left"> <tr> <td style="vertical-align:top;padding-bottom:2px;vertical-align:bottom"> <div style="text-align:justify;line-height:1.25"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span style="text-decoration:underline">Details for the year ended December 31,</span></span></span></div> </td> <td colspan="1" style="vertical-align:bottom;padding-bottom:2px;vertical-align:bottom"> </td> <td colspan="2" style="vertical-align:top;border-bottom:#000000 solid 2px;vertical-align:bottom"> <div style="text-align:center;line-height:1.25"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">2025</span></span></div> </td> <td colspan="1" style="vertical-align:bottom;padding-bottom:2px;vertical-align:bottom;white-space:nowrap"> </td> <td colspan="1" style="vertical-align:bottom;padding-bottom:2px;vertical-align:bottom"> </td> <td colspan="2" style="vertical-align:top;border-bottom:#000000 solid 2px;vertical-align:bottom"> <div style="text-align:center;line-height:1.25"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">2024</span></span></div> </td> <td colspan="1" style="vertical-align:bottom;padding-bottom:2px;vertical-align:bottom;white-space:nowrap"> </td> <td colspan="1" style="vertical-align:bottom;padding-bottom:2px;vertical-align:bottom"> </td> <td colspan="2" style="vertical-align:top;border-bottom:#000000 solid 2px;vertical-align:bottom"> <div style="text-align:center;line-height:1.25"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">2023</span></span></div> </td> <td colspan="1" style="vertical-align:bottom;padding-bottom:2px;vertical-align:bottom;white-space:nowrap"> </td> </tr> <tr> <td style="vertical-align:top;width:64%;background-color:rgb(204, 238, 255);vertical-align:bottom"> <div style="text-align:justify;line-height:1.25"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">The intrinsic value of converted RSUs</span></span></div> </td> <td colspan="1" style="vertical-align:bottom;width:1%;background-color:rgb(204, 238, 255);vertical-align:bottom"> </td> <td colspan="1" style="vertical-align:bottom;width:1%;background-color:rgb(204, 238, 255);vertical-align:bottom"> <div style="line-height:1.25"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">$</span></span></div> </td> <td colspan="1" style="vertical-align:bottom;text-align:right;width:9%;background-color:rgb(204, 238, 255);vertical-align:bottom"> <div style="line-height:1.25">58,605</div> </td> <td colspan="1" style="vertical-align:bottom;width:1%;background-color:rgb(204, 238, 255);vertical-align:bottom;white-space:nowrap"> </td> <td colspan="1" style="vertical-align:bottom;width:1%;background-color:rgb(204, 238, 255);vertical-align:bottom"> </td> <td colspan="1" style="vertical-align:bottom;width:1%;background-color:rgb(204, 238, 255);vertical-align:bottom"> <div style="line-height:1.25"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">$</span></span></div> </td> <td colspan="1" style="vertical-align:bottom;text-align:right;width:9%;background-color:rgb(204, 238, 255);vertical-align:bottom"> <div style="line-height:1.25">28,667</div> </td> <td colspan="1" style="vertical-align:bottom;width:1%;background-color:rgb(204, 238, 255);vertical-align:bottom;white-space:nowrap"> </td> <td colspan="1" style="vertical-align:bottom;width:1%;background-color:rgb(204, 238, 255);vertical-align:bottom"> </td> <td colspan="1" style="vertical-align:bottom;width:1%;background-color:rgb(204, 238, 255);vertical-align:bottom"> <div style="line-height:1.25"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">$</span></span></div> </td> <td colspan="1" style="vertical-align:bottom;text-align:right;width:9%;background-color:rgb(204, 238, 255);vertical-align:bottom"> <div style="line-height:1.25">26,976</div> </td> <td colspan="1" style="vertical-align:bottom;width:1%;background-color:rgb(204, 238, 255);vertical-align:bottom;white-space:nowrap"> </td> </tr> <tr> <td style="vertical-align:top;width:64%;vertical-align:bottom"> <div style="text-align:justify;line-height:1.25"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">The original fair value of converted RSUs</span></span></div> </td> <td colspan="1" style="vertical-align:bottom;width:1%;vertical-align:bottom"> </td> <td colspan="1" style="vertical-align:bottom;width:1%;vertical-align:bottom"> <div style="line-height:1.25"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">$</span></span></div> </td> <td colspan="1" style="vertical-align:bottom;text-align:right;width:9%;vertical-align:bottom"> <div style="line-height:1.25">35,039</div> </td> <td colspan="1" style="vertical-align:bottom;width:1%;vertical-align:bottom;white-space:nowrap"> </td> <td colspan="1" style="vertical-align:bottom;width:1%;vertical-align:bottom"> </td> <td colspan="1" style="vertical-align:bottom;width:1%;vertical-align:bottom"> <div style="line-height:1.25"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">$</span></span></div> </td> <td colspan="1" style="vertical-align:bottom;text-align:right;width:9%;vertical-align:bottom"> <div style="line-height:1.25">26,510</div> </td> <td colspan="1" style="vertical-align:bottom;width:1%;vertical-align:bottom;white-space:nowrap"> </td> <td colspan="1" style="vertical-align:bottom;width:1%;vertical-align:bottom"> </td> <td colspan="1" style="vertical-align:bottom;width:1%;vertical-align:bottom"> <div style="line-height:1.25"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">$</span></span></div> </td> <td colspan="1" style="vertical-align:bottom;text-align:right;width:9%;vertical-align:bottom"> <div style="line-height:1.25">24,206</div> </td> </tr> </table> </div> </div> 58605000 28667000 26976000 35039000 26510000 24206000 <div> <div> <div style="margin-left:99pt"> <table border="0" cellpadding="0" cellspacing="0" style="width:85%;color:#000000;font-family:'Times New Roman', Times, serif;font-size:10pt;text-align:left"> <tr> <td style="vertical-align:middle;padding-bottom:2px;vertical-align:bottom"> <div style="text-align:justify;line-height:1.25"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span style="text-decoration:underline">Details</span></span></span></div> </td> <td colspan="1" style="vertical-align:bottom;padding-bottom:2px;vertical-align:bottom"> </td> <td colspan="2" style="vertical-align:middle;border-bottom:#000000 solid 2px;vertical-align:bottom"> <div style="text-align:center;line-height:1.25"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">2025</span></span></div> </td> <td colspan="1" style="vertical-align:bottom;padding-bottom:2px;vertical-align:bottom;white-space:nowrap"> </td> <td colspan="1" style="vertical-align:bottom;padding-bottom:2px;vertical-align:bottom"> </td> <td colspan="2" style="vertical-align:middle;border-bottom:#000000 solid 2px;vertical-align:bottom"> <div style="text-align:center;line-height:1.25"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">2024</span></span></div> </td> <td colspan="1" style="vertical-align:bottom;padding-bottom:2px;vertical-align:bottom;white-space:nowrap"> </td> <td colspan="1" style="vertical-align:bottom;padding-bottom:2px;vertical-align:bottom"> </td> <td colspan="2" style="vertical-align:middle;border-bottom:#000000 solid 2px;vertical-align:bottom"> <div style="text-align:center;line-height:1.25"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">2023</span></span></div> </td> <td colspan="1" style="vertical-align:bottom;padding-bottom:2px;vertical-align:bottom;white-space:nowrap"> </td> </tr> <tr> <td style="vertical-align:middle;width:64%;background-color:rgb(204, 238, 255);vertical-align:bottom"> <div style="text-align:justify;line-height:1.25"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">Cost of goods</span></span></div> </td> <td colspan="1" style="vertical-align:bottom;width:1%;background-color:rgb(204, 238, 255);vertical-align:bottom"> </td> <td colspan="1" style="vertical-align:bottom;width:1%;background-color:rgb(204, 238, 255);vertical-align:bottom"> <div style="line-height:1.25"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">$</span></span></div> </td> <td colspan="1" style="vertical-align:bottom;text-align:right;width:9%;background-color:rgb(204, 238, 255);vertical-align:bottom"> <div style="line-height:1.25">8,256</div> </td> <td colspan="1" style="vertical-align:bottom;width:1%;background-color:rgb(204, 238, 255);vertical-align:bottom;white-space:nowrap"> </td> <td colspan="1" style="vertical-align:bottom;width:1%;background-color:rgb(204, 238, 255);vertical-align:bottom"> </td> <td colspan="1" style="vertical-align:bottom;width:1%;background-color:rgb(204, 238, 255);vertical-align:bottom"> <div style="line-height:1.25"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">$</span></span></div> </td> <td colspan="1" style="vertical-align:bottom;text-align:right;width:9%;background-color:rgb(204, 238, 255);vertical-align:bottom"> <div style="line-height:1.25">8,764</div> </td> <td colspan="1" style="vertical-align:bottom;width:1%;background-color:rgb(204, 238, 255);vertical-align:bottom;white-space:nowrap"> </td> <td colspan="1" style="vertical-align:bottom;width:1%;background-color:rgb(204, 238, 255);vertical-align:bottom"> </td> <td colspan="1" style="vertical-align:bottom;width:1%;background-color:rgb(204, 238, 255);vertical-align:bottom"> <div style="line-height:1.25"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">$</span></span></div> </td> <td colspan="1" style="vertical-align:bottom;text-align:right;width:9%;background-color:rgb(204, 238, 255);vertical-align:bottom"> <div style="line-height:1.25">8,332</div> </td> <td colspan="1" style="vertical-align:bottom;width:1%;background-color:rgb(204, 238, 255);vertical-align:bottom;white-space:nowrap"> </td> </tr> <tr> <td style="vertical-align:middle;width:64%;vertical-align:bottom"> <div style="text-align:justify;line-height:1.25"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">Research and development, net</span></span></div> </td> <td colspan="1" style="vertical-align:bottom;width:1%;vertical-align:bottom"> </td> <td colspan="1" style="vertical-align:bottom;width:1%;vertical-align:bottom"> </td> <td colspan="1" style="vertical-align:bottom;text-align:right;width:9%;vertical-align:bottom"> <div style="line-height:1.25">7,984</div> </td> <td colspan="1" style="vertical-align:bottom;width:1%;vertical-align:bottom;white-space:nowrap"> </td> <td colspan="1" style="vertical-align:bottom;width:1%;vertical-align:bottom"> </td> <td colspan="1" style="vertical-align:bottom;width:1%;vertical-align:bottom"> </td> <td colspan="1" style="vertical-align:bottom;text-align:right;width:9%;vertical-align:bottom"> <div style="line-height:1.25">7,422</div> </td> <td colspan="1" style="vertical-align:bottom;width:1%;vertical-align:bottom;white-space:nowrap"> </td> <td colspan="1" style="vertical-align:bottom;width:1%;vertical-align:bottom"> </td> <td colspan="1" style="vertical-align:bottom;width:1%;vertical-align:bottom"> </td> <td colspan="1" style="vertical-align:bottom;text-align:right;width:9%;vertical-align:bottom"> <div style="line-height:1.25">5,639</div> </td> <td colspan="1" style="vertical-align:bottom;width:1%;vertical-align:bottom;white-space:nowrap"> </td> </tr> <tr> <td style="vertical-align:middle;width:64%;padding-bottom:2px;background-color:rgb(204, 238, 255);vertical-align:bottom"> <div style="text-align:justify;line-height:1.25"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">Marketing, general and administrative</span></span></div> </td> <td colspan="1" style="vertical-align:bottom;width:1%;padding-bottom:2px;background-color:rgb(204, 238, 255);vertical-align:bottom"> </td> <td colspan="1" style="vertical-align:bottom;width:1%;border-bottom:2px solid rgb(0, 0, 0);background-color:rgb(204, 238, 255);vertical-align:bottom"> </td> <td colspan="1" style="vertical-align:bottom;text-align:right;width:9%;border-bottom:2px solid rgb(0, 0, 0);background-color:rgb(204, 238, 255);vertical-align:bottom"> <div style="line-height:1.25">21,528</div> </td> <td colspan="1" style="vertical-align:bottom;width:1%;padding-bottom:2px;background-color:rgb(204, 238, 255);vertical-align:bottom;white-space:nowrap"> </td> <td colspan="1" style="vertical-align:bottom;width:1%;padding-bottom:2px;background-color:rgb(204, 238, 255);vertical-align:bottom"> </td> <td colspan="1" style="vertical-align:bottom;width:1%;border-bottom:2px solid rgb(0, 0, 0);background-color:rgb(204, 238, 255);vertical-align:bottom"> </td> <td colspan="1" style="vertical-align:bottom;text-align:right;width:9%;border-bottom:2px solid rgb(0, 0, 0);background-color:rgb(204, 238, 255);vertical-align:bottom"> <div style="line-height:1.25">17,651</div> </td> <td colspan="1" style="vertical-align:bottom;width:1%;padding-bottom:2px;background-color:rgb(204, 238, 255);vertical-align:bottom;white-space:nowrap"> </td> <td colspan="1" style="vertical-align:bottom;width:1%;padding-bottom:2px;background-color:rgb(204, 238, 255);vertical-align:bottom"> </td> <td colspan="1" style="vertical-align:bottom;width:1%;border-bottom:2px solid rgb(0, 0, 0);background-color:rgb(204, 238, 255);vertical-align:bottom"> </td> <td colspan="1" style="vertical-align:bottom;text-align:right;width:9%;border-bottom:2px solid rgb(0, 0, 0);background-color:rgb(204, 238, 255);vertical-align:bottom"> <div style="line-height:1.25">13,960</div> </td> <td colspan="1" style="vertical-align:bottom;width:1%;padding-bottom:2px;background-color:rgb(204, 238, 255);vertical-align:bottom;white-space:nowrap"> </td> </tr> <tr> <td style="vertical-align:middle;width:64%;padding-bottom:4px;vertical-align:bottom"> <div style="text-align:justify;line-height:1.25"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">Total stock-based compensation expense</span></span></div> </td> <td colspan="1" style="vertical-align:bottom;width:1%;padding-bottom:4px;vertical-align:bottom"> </td> <td colspan="1" style="vertical-align:bottom;width:1%;border-bottom:4px double rgb(0, 0, 0);vertical-align:bottom"> <div style="line-height:1.25"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">$</span></span></div> </td> <td colspan="1" style="vertical-align:bottom;text-align:right;width:9%;border-bottom:4px double rgb(0, 0, 0);vertical-align:bottom"> <div style="line-height:1.25">37,768</div> </td> <td colspan="1" style="vertical-align:bottom;width:1%;padding-bottom:4px;vertical-align:bottom;white-space:nowrap"> </td> <td colspan="1" style="vertical-align:bottom;width:1%;padding-bottom:4px;vertical-align:bottom"> </td> <td colspan="1" style="vertical-align:bottom;width:1%;border-bottom:4px double rgb(0, 0, 0);vertical-align:bottom"> <div style="line-height:1.25"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">$</span></span></div> </td> <td colspan="1" style="vertical-align:bottom;text-align:right;width:9%;border-bottom:4px double rgb(0, 0, 0);vertical-align:bottom"> <div style="line-height:1.25">33,837</div> </td> <td colspan="1" style="vertical-align:bottom;width:1%;padding-bottom:4px;vertical-align:bottom;white-space:nowrap"> </td> <td colspan="1" style="vertical-align:bottom;width:1%;padding-bottom:4px;vertical-align:bottom"> </td> <td colspan="1" style="vertical-align:bottom;width:1%;border-bottom:4px double rgb(0, 0, 0);vertical-align:bottom"> <div style="line-height:1.25"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">$</span></span></div> </td> <td colspan="1" style="vertical-align:bottom;text-align:right;width:9%;border-bottom:4px double rgb(0, 0, 0);vertical-align:bottom"> <div style="line-height:1.25">27,931</div> </td> <td colspan="1" style="vertical-align:bottom;width:1%;padding-bottom:4px;vertical-align:bottom;white-space:nowrap"> </td> </tr> </table> </div> </div> </div> 8256000 8764000 8332000 7984000 7422000 5639000 21528000 17651000 13960000 37768000 33837000 27931000 87000 <div> <div style="line-height:1.25"> <div style="line-height:1.25"> <div style="line-height:1.25"> <div style="line-height:1.25"> <div style="text-align:justify;line-height:1.25"> <div style="line-height:1.25"> <div style="line-height:1.25"> <div style="line-height:1.25"> <div style="line-height:1.25"> <table border="0" cellpadding="0" cellspacing="0" style="font-family:'Times New Roman', Times, serif;font-size:10pt;color:#000000;width:100%"> <tr> <td style="width:56pt"><span style="font-weight:bold">NOTE 14:</span></td> <td style="width:auto"><span style="font-weight:bold">INFORMATION ON GEOGRAPHIC AREAS AND MAJOR CUSTOMERS</span></td> </tr> </table> <div style="line-height:1.25">          </div> </div> </div> </div> </div> </div> </div> </div> </div> </div> <div> <div style="line-height:1.25"> <table border="0" cellpadding="0" cellspacing="0" style="font-family:'Times New Roman', Times, serif;font-size:10pt;color:#000000;width:100%"> <tr> <td style="width:56pt"> <div> </div> </td> <td style="font-weight:bold;width:22pt">A.</td> <td style="font-weight:bold;width:auto"> <div> <div style="font-weight:bold"> <div style="font-weight:bold"><span style="font-weight:bold">Revenue by Geographic Area - as Percentage of Total Revenue</span></div> </div> </div> </td> </tr> </table> <div style="line-height:1.25"> <div style="line-height:1.25"> <table border="0" cellpadding="0" cellspacing="0" style="font-family:'Times New Roman', Times, serif;font-size:10pt;color:#000000;width:100%"> <tr> <td style="width:56pt"> <div> </div> </td> <td style="font-weight:bold;width:22pt"> </td> <td style="font-weight:normal;width:auto"> <div> <div> <div> <div style="text-align:justify;line-height:1.25"> <div style="line-height:1.25"> <div style="line-height:1.25">Years ended December 31, 2025, 2024 and 2023:</div> </div> </div> </div> </div> </div> </td> </tr> </table> <p style="margin:0pt"> </p> </div> </div> </div> <div> <div style="margin-left:99pt"> <table border="0" cellpadding="0" cellspacing="0" style="width:85%;color:rgb(0, 0, 0);font-family:Times New Roman, Times, serif;font-size:10pt;text-align:left"> <tr> <td style="vertical-align:middle;padding-bottom:2px;vertical-align:bottom"> <div style="text-align:justify;line-height:1.25">Details</div> </td> <td colspan="1" style="vertical-align:bottom;padding-bottom:2px;vertical-align:bottom"> </td> <td colspan="2" style="vertical-align:middle;border-bottom:#000000 solid 2px;vertical-align:bottom"> <div style="text-align:center;line-height:1.25">2025</div> </td> <td colspan="1" style="vertical-align:bottom;padding-bottom:2px;vertical-align:bottom;white-space:nowrap"> </td> <td colspan="1" style="vertical-align:bottom;padding-bottom:2px;vertical-align:bottom"> </td> <td colspan="2" style="vertical-align:middle;border-bottom:#000000 solid 2px;vertical-align:bottom"> <div style="text-align:center;line-height:1.25">2024</div> </td> <td colspan="1" style="vertical-align:bottom;padding-bottom:2px;vertical-align:bottom;white-space:nowrap"> </td> <td colspan="1" style="vertical-align:bottom;padding-bottom:2px;vertical-align:bottom"> </td> <td colspan="2" style="vertical-align:middle;border-bottom:#000000 solid 2px;vertical-align:bottom"> <div style="text-align:center;line-height:1.25">2023</div> </td> <td colspan="1" style="vertical-align:bottom;padding-bottom:2px;vertical-align:bottom;white-space:nowrap"> </td> </tr> <tr> <td style="vertical-align:middle;width:64%;background-color:rgb(204, 238, 255);vertical-align:bottom"> <div style="text-align:justify;line-height:1.25">USA</div> </td> <td colspan="1" style="vertical-align:bottom;width:1%;background-color:rgb(204, 238, 255);vertical-align:bottom"> </td> <td colspan="1" style="vertical-align:bottom;width:1%;background-color:rgb(204, 238, 255);vertical-align:bottom"> </td> <td colspan="1" style="vertical-align:bottom;text-align:right;width:9%;background-color:rgb(204, 238, 255);vertical-align:bottom"> <div style="line-height:1.25">42</div> </td> <td colspan="1" style="vertical-align:bottom;width:1%;background-color:rgb(204, 238, 255);vertical-align:bottom;white-space:nowrap"> <div style="line-height:1.25">%</div> </td> <td colspan="1" style="vertical-align:bottom;width:1%;background-color:rgb(204, 238, 255);vertical-align:bottom"> </td> <td colspan="1" style="vertical-align:bottom;width:1%;background-color:rgb(204, 238, 255);vertical-align:bottom"> </td> <td colspan="1" style="vertical-align:bottom;text-align:right;width:9%;background-color:rgb(204, 238, 255);vertical-align:bottom"> <div style="line-height:1.25">42</div> </td> <td colspan="1" style="vertical-align:bottom;width:1%;background-color:rgb(204, 238, 255);vertical-align:bottom;white-space:nowrap"> <div style="line-height:1.25">%</div> </td> <td colspan="1" style="vertical-align:bottom;width:1%;background-color:rgb(204, 238, 255);vertical-align:bottom"> </td> <td colspan="1" style="vertical-align:bottom;width:1%;background-color:rgb(204, 238, 255);vertical-align:bottom"> </td> <td colspan="1" style="vertical-align:bottom;text-align:right;width:9%;background-color:rgb(204, 238, 255);vertical-align:bottom"> <div style="line-height:1.25">46</div> </td> <td colspan="1" style="vertical-align:bottom;width:1%;background-color:rgb(204, 238, 255);vertical-align:bottom;white-space:nowrap"> <div style="line-height:1.25">%</div> </td> </tr> <tr> <td style="vertical-align:middle;width:64%;vertical-align:bottom"> <div style="text-align:justify;line-height:1.25">Japan</div> </td> <td colspan="1" style="vertical-align:bottom;width:1%;vertical-align:bottom"> </td> <td colspan="1" style="vertical-align:bottom;width:1%;vertical-align:bottom"> </td> <td colspan="1" style="vertical-align:bottom;text-align:right;width:9%;vertical-align:bottom"> <div style="line-height:1.25">13</div> </td> <td colspan="1" style="vertical-align:bottom;width:1%;vertical-align:bottom;white-space:nowrap"> </td> <td colspan="1" style="vertical-align:bottom;width:1%;vertical-align:bottom"> </td> <td colspan="1" style="vertical-align:bottom;width:1%;vertical-align:bottom"> </td> <td colspan="1" style="vertical-align:bottom;text-align:right;width:9%;vertical-align:bottom"> <div style="line-height:1.25">16</div> </td> <td colspan="1" style="vertical-align:bottom;width:1%;vertical-align:bottom;white-space:nowrap"> </td> <td colspan="1" style="vertical-align:bottom;width:1%;vertical-align:bottom"> </td> <td colspan="1" style="vertical-align:bottom;width:1%;vertical-align:bottom"> </td> <td colspan="1" style="vertical-align:bottom;text-align:right;width:9%;vertical-align:bottom"> <div style="line-height:1.25">17</div> </td> <td colspan="1" style="vertical-align:bottom;width:1%;vertical-align:bottom;white-space:nowrap"> </td> </tr> <tr> <td style="vertical-align:middle;width:64%;background-color:rgb(204, 238, 255);vertical-align:bottom"> <div style="text-align:justify;line-height:1.25">Asia (other than Japan)</div> </td> <td colspan="1" style="vertical-align:bottom;width:1%;background-color:rgb(204, 238, 255);vertical-align:bottom"> </td> <td colspan="1" style="vertical-align:bottom;width:1%;background-color:rgb(204, 238, 255);vertical-align:bottom"> </td> <td colspan="1" style="vertical-align:bottom;text-align:right;width:9%;background-color:rgb(204, 238, 255);vertical-align:bottom"> <div style="line-height:1.25">39</div> </td> <td colspan="1" style="vertical-align:bottom;width:1%;background-color:rgb(204, 238, 255);vertical-align:bottom;white-space:nowrap"> </td> <td colspan="1" style="vertical-align:bottom;width:1%;background-color:rgb(204, 238, 255);vertical-align:bottom"> </td> <td colspan="1" style="vertical-align:bottom;width:1%;background-color:rgb(204, 238, 255);vertical-align:bottom"> </td> <td colspan="1" style="vertical-align:bottom;text-align:right;width:9%;background-color:rgb(204, 238, 255);vertical-align:bottom"> <div style="line-height:1.25">33</div> </td> <td colspan="1" style="vertical-align:bottom;width:1%;background-color:rgb(204, 238, 255);vertical-align:bottom;white-space:nowrap"> </td> <td colspan="1" style="vertical-align:bottom;width:1%;background-color:rgb(204, 238, 255);vertical-align:bottom"> </td> <td colspan="1" style="vertical-align:bottom;width:1%;background-color:rgb(204, 238, 255);vertical-align:bottom"> </td> <td colspan="1" style="vertical-align:bottom;text-align:right;width:9%;background-color:rgb(204, 238, 255);vertical-align:bottom"> <div style="line-height:1.25">27</div> </td> <td colspan="1" style="vertical-align:bottom;width:1%;background-color:rgb(204, 238, 255);vertical-align:bottom;white-space:nowrap"> </td> </tr> <tr> <td style="vertical-align:middle;width:64%;padding-bottom:2px;vertical-align:bottom"> <div style="text-align:justify;line-height:1.25">Europe</div> </td> <td colspan="1" style="vertical-align:bottom;width:1%;padding-bottom:2px;vertical-align:bottom"> </td> <td colspan="1" style="vertical-align:bottom;width:1%;border-bottom:2px solid rgb(0, 0, 0);vertical-align:bottom"> </td> <td colspan="1" style="vertical-align:bottom;text-align:right;width:9%;border-bottom:2px solid rgb(0, 0, 0);vertical-align:bottom"> <div style="line-height:1.25">6</div> </td> <td colspan="1" style="vertical-align:bottom;width:1%;padding-bottom:2px;vertical-align:bottom;white-space:nowrap"> </td> <td colspan="1" style="vertical-align:bottom;width:1%;padding-bottom:2px;vertical-align:bottom"> </td> <td colspan="1" style="vertical-align:bottom;width:1%;border-bottom:2px solid rgb(0, 0, 0);vertical-align:bottom"> </td> <td colspan="1" style="vertical-align:bottom;text-align:right;width:9%;border-bottom:2px solid rgb(0, 0, 0);vertical-align:bottom"> <div style="line-height:1.25">9</div> </td> <td colspan="1" style="vertical-align:bottom;width:1%;padding-bottom:2px;vertical-align:bottom;white-space:nowrap"> </td> <td colspan="1" style="vertical-align:bottom;width:1%;padding-bottom:2px;vertical-align:bottom"> </td> <td colspan="1" style="vertical-align:bottom;width:1%;border-bottom:2px solid rgb(0, 0, 0);vertical-align:bottom"> </td> <td colspan="1" style="vertical-align:bottom;text-align:right;width:9%;border-bottom:2px solid rgb(0, 0, 0);vertical-align:bottom"> <div style="line-height:1.25">10</div> </td> <td colspan="1" style="vertical-align:bottom;width:1%;padding-bottom:2px;vertical-align:bottom;white-space:nowrap"> </td> </tr> <tr> <td style="vertical-align:middle;width:64%;padding-bottom:4px;background-color:rgb(204, 238, 255);vertical-align:bottom"> <div style="text-align:justify;line-height:1.25">Total</div> </td> <td colspan="1" style="vertical-align:bottom;width:1%;padding-bottom:4px;background-color:rgb(204, 238, 255);vertical-align:bottom"> </td> <td colspan="1" style="vertical-align:bottom;width:1%;border-bottom:4px double rgb(0, 0, 0);background-color:rgb(204, 238, 255);vertical-align:bottom"> </td> <td colspan="1" style="vertical-align:bottom;text-align:right;width:9%;border-bottom:4px double rgb(0, 0, 0);background-color:rgb(204, 238, 255);vertical-align:bottom"> <div style="line-height:1.25">100</div> </td> <td colspan="1" style="vertical-align:bottom;width:1%;padding-bottom:4px;background-color:rgb(204, 238, 255);vertical-align:bottom;white-space:nowrap"> <div style="line-height:1.25">%</div> </td> <td colspan="1" style="vertical-align:bottom;width:1%;padding-bottom:4px;background-color:rgb(204, 238, 255);vertical-align:bottom"> </td> <td colspan="1" style="vertical-align:bottom;width:1%;border-bottom:4px double rgb(0, 0, 0);background-color:rgb(204, 238, 255);vertical-align:bottom"> </td> <td colspan="1" style="vertical-align:bottom;text-align:right;width:9%;border-bottom:4px double rgb(0, 0, 0);background-color:rgb(204, 238, 255);vertical-align:bottom"> <div style="line-height:1.25">100</div> </td> <td colspan="1" style="vertical-align:bottom;width:1%;padding-bottom:4px;background-color:rgb(204, 238, 255);vertical-align:bottom;white-space:nowrap"> <div style="line-height:1.25">%</div> </td> <td colspan="1" style="vertical-align:bottom;width:1%;padding-bottom:4px;background-color:rgb(204, 238, 255);vertical-align:bottom"> </td> <td colspan="1" style="vertical-align:bottom;width:1%;border-bottom:4px double rgb(0, 0, 0);background-color:rgb(204, 238, 255);vertical-align:bottom"> </td> <td colspan="1" style="vertical-align:bottom;text-align:right;width:9%;border-bottom:4px double rgb(0, 0, 0);background-color:rgb(204, 238, 255);vertical-align:bottom"> <div style="line-height:1.25">100</div> </td> <td colspan="1" style="vertical-align:bottom;width:1%;padding-bottom:4px;background-color:rgb(204, 238, 255);vertical-align:bottom;white-space:nowrap"> <div style="line-height:1.25">%</div> </td> </tr> </table> </div> </div> </div> <div style="line-height:1.25;clear:both"> </div> <div style="line-height:1.25"> <div style="line-height:1.25"> <div style="line-height:1.25"> <table border="0" cellpadding="0" cellspacing="0" style="font-family:'Times New Roman', Times, serif;font-size:10pt;color:#000000;width:100%"> <tr> <td style="width:56pt"> <div> </div> </td> <td style="font-weight:bold;width:22pt"> </td> <td style="font-weight:normal;width:auto"> <div> <div> <div> <div style="text-align:justify;line-height:1.25"> <div style="line-height:1.25"> <div style="line-height:1.25"> <div style="line-height:1.25">The basis of attributing revenue from external customers to a certain geographic area is based on the headquarters’ location of the customer issuing the purchase order.</div> </div> </div> </div> </div> </div> </div> </td> </tr> </table> <p style="margin-top:0pt;margin-bottom:0pt"> </p> </div> </div> </div> <div> <div style="line-height:1.25"> <div style="line-height:1.25"> <div style="line-height:1.25"> <div style="line-height:1.25"> <table border="0" cellpadding="0" cellspacing="0" style="font-family:'Times New Roman', Times, serif;font-size:10pt;color:#000000;width:100%"> <tr> <td style="width:56pt"> <div> </div> </td> <td style="font-weight:bold;width:22pt">B.</td> <td style="font-weight:bold;width:auto"> <div> <div style="font-weight:bold"> <div style="font-weight:bold"><span style="font-weight:bold">Long-Lived Assets by Geographic Area</span></div> </div> </div> </td> </tr> </table> <div style="line-height:1.25"> <div style="line-height:1.25"> <table border="0" cellpadding="0" cellspacing="0" style="font-family:'Times New Roman', Times, serif;font-size:10pt;color:#000000;width:100%"> <tr> <td style="width:56pt"> <div> </div> </td> <td style="font-weight:bold;width:22pt"> </td> <td style="font-weight:normal;width:auto"> <div> <div> <div> <div style="text-align:justify;line-height:1.25"> <div style="line-height:1.25"> <div style="line-height:1.25"> <div style="line-height:1.25">Substantially all of Tower’s long-lived assets are located in Israel, substantially all of TSNB’s and TSSA’s long-lived assets are located in the United States, substantially all of TPSCo’s long-lived assets are located in Japan and substantially all of TSIT’s long-lived assets are located in Italy.</div> <div style="text-indent:0.3pt;margin-left:78pt;line-height:1.25"> </div> <div style="line-height:1.25"> <div style="line-height:1.25">As of December 31, 2025 and 2024, property and equipment, net consisted of the following:</div> </div> </div> </div> </div> </div> </div> </div> </td> </tr> </table> <p style="margin-top:0pt;margin-bottom:0pt"> </p> </div> </div> </div> </div> </div> </div> <div> <div style="margin-left:99pt"> <table border="0" cellpadding="0" cellspacing="0" style="width:85%;color:rgb(0, 0, 0);font-family:Times New Roman, Times, serif;font-size:10pt;text-align:left"> <tr> <td style="vertical-align:middle;padding-bottom:2px;vertical-align:bottom"> <div style="text-align:justify;line-height:1.25">Details</div> </td> <td colspan="1" style="vertical-align:bottom;padding-bottom:2px;vertical-align:bottom"> </td> <td colspan="2" style="vertical-align:middle;border-bottom:#000000 solid 2px;vertical-align:bottom"> <div style="text-align:center;line-height:1.25">2025</div> </td> <td colspan="1" style="vertical-align:bottom;padding-bottom:2px;vertical-align:bottom;white-space:nowrap"> </td> <td colspan="1" style="vertical-align:bottom;padding-bottom:2px;vertical-align:bottom"> </td> <td colspan="2" style="vertical-align:middle;border-bottom:#000000 solid 2px;vertical-align:bottom"> <div style="text-align:center;line-height:1.25">2024</div> </td> <td colspan="1" style="vertical-align:bottom;padding-bottom:2px;vertical-align:bottom;white-space:nowrap"> </td> </tr> <tr> <td style="vertical-align:middle;width:76%;background-color:rgb(204, 238, 255);vertical-align:bottom"> <div style="text-align:justify;line-height:1.25">Israel</div> </td> <td colspan="1" style="vertical-align:bottom;width:1%;background-color:rgb(204, 238, 255);vertical-align:bottom"> </td> <td colspan="1" style="vertical-align:bottom;width:1%;background-color:rgb(204, 238, 255);vertical-align:bottom"> <div style="line-height:1.25">$</div> </td> <td colspan="1" style="vertical-align:bottom;text-align:right;width:9%;background-color:rgb(204, 238, 255);vertical-align:bottom"> <div style="line-height:1.25">348,558</div> </td> <td colspan="1" style="vertical-align:bottom;width:1%;background-color:rgb(204, 238, 255);vertical-align:bottom;white-space:nowrap"> </td> <td colspan="1" style="vertical-align:bottom;width:1%;background-color:rgb(204, 238, 255);vertical-align:bottom"> </td> <td colspan="1" style="vertical-align:bottom;width:1%;background-color:rgb(204, 238, 255);vertical-align:bottom"> <div style="line-height:1.25">$</div> </td> <td colspan="1" style="vertical-align:bottom;text-align:right;width:9%;background-color:rgb(204, 238, 255);vertical-align:bottom"> <div style="line-height:1.25">279,023</div> </td> <td colspan="1" style="vertical-align:bottom;width:1%;background-color:rgb(204, 238, 255);vertical-align:bottom;white-space:nowrap"> </td> </tr> <tr> <td style="vertical-align:middle;width:76%;vertical-align:bottom"> <div style="text-align:justify;line-height:1.25">United States</div> </td> <td colspan="1" style="vertical-align:bottom;width:1%;vertical-align:bottom"> </td> <td colspan="1" style="vertical-align:bottom;width:1%;vertical-align:bottom"> </td> <td colspan="1" style="vertical-align:bottom;text-align:right;width:9%;vertical-align:bottom"> <div style="line-height:1.25">399,227</div> </td> <td colspan="1" style="vertical-align:bottom;width:1%;vertical-align:bottom;white-space:nowrap"> </td> <td colspan="1" style="vertical-align:bottom;width:1%;vertical-align:bottom"> </td> <td colspan="1" style="vertical-align:bottom;width:1%;vertical-align:bottom"> </td> <td colspan="1" style="vertical-align:bottom;text-align:right;width:9%;vertical-align:bottom"> <div style="line-height:1.25">322,947</div> </td> <td colspan="1" style="vertical-align:bottom;width:1%;vertical-align:bottom;white-space:nowrap"> </td> </tr> <tr> <td style="vertical-align:middle;width:76%;background-color:rgb(204, 238, 255);vertical-align:bottom"> <div style="text-align:justify;line-height:1.25">Europe</div> </td> <td colspan="1" style="vertical-align:bottom;width:1%;background-color:rgb(204, 238, 255);vertical-align:bottom"> </td> <td colspan="1" style="vertical-align:bottom;width:1%;background-color:rgb(204, 238, 255);vertical-align:bottom"> </td> <td colspan="1" style="vertical-align:bottom;text-align:right;width:9%;background-color:rgb(204, 238, 255);vertical-align:bottom"> <div style="line-height:1.25">462,794</div> </td> <td colspan="1" style="vertical-align:bottom;width:1%;background-color:rgb(204, 238, 255);vertical-align:bottom;white-space:nowrap"> </td> <td colspan="1" style="vertical-align:bottom;width:1%;background-color:rgb(204, 238, 255);vertical-align:bottom"> </td> <td colspan="1" style="vertical-align:bottom;width:1%;background-color:rgb(204, 238, 255);vertical-align:bottom"> </td> <td colspan="1" style="vertical-align:bottom;text-align:right;width:9%;background-color:rgb(204, 238, 255);vertical-align:bottom"> <div style="line-height:1.25">452,557</div> </td> <td colspan="1" style="vertical-align:bottom;width:1%;background-color:rgb(204, 238, 255);vertical-align:bottom;white-space:nowrap"> </td> </tr> <tr> <td style="vertical-align:middle;width:76%;padding-bottom:2px;vertical-align:bottom"> <div style="text-align:justify;line-height:1.25">Japan</div> </td> <td colspan="1" style="vertical-align:bottom;width:1%;padding-bottom:2px;vertical-align:bottom"> </td> <td colspan="1" style="vertical-align:bottom;width:1%;border-bottom:2px solid rgb(0, 0, 0);vertical-align:bottom"> </td> <td colspan="1" style="vertical-align:bottom;text-align:right;width:9%;border-bottom:2px solid rgb(0, 0, 0);vertical-align:bottom"> <div style="line-height:1.25">252,477</div> </td> <td colspan="1" style="vertical-align:bottom;width:1%;padding-bottom:2px;vertical-align:bottom;white-space:nowrap"> </td> <td colspan="1" style="vertical-align:bottom;width:1%;padding-bottom:2px;vertical-align:bottom"> </td> <td colspan="1" style="vertical-align:bottom;width:1%;border-bottom:2px solid rgb(0, 0, 0);vertical-align:bottom"> </td> <td colspan="1" style="vertical-align:bottom;text-align:right;width:9%;border-bottom:2px solid rgb(0, 0, 0);vertical-align:bottom"> <div style="line-height:1.25">232,095</div> </td> <td colspan="1" style="vertical-align:bottom;width:1%;padding-bottom:2px;vertical-align:bottom;white-space:nowrap"> </td> </tr> <tr> <td style="vertical-align:middle;width:76%;padding-bottom:4px;background-color:rgb(204, 238, 255);vertical-align:bottom"> </td> <td colspan="1" style="vertical-align:bottom;width:1%;padding-bottom:4px;background-color:rgb(204, 238, 255);vertical-align:bottom"> </td> <td colspan="1" style="vertical-align:bottom;width:1%;border-bottom:4px double rgb(0, 0, 0);background-color:rgb(204, 238, 255);vertical-align:bottom"> <div style="line-height:1.25">$</div> </td> <td colspan="1" style="vertical-align:bottom;text-align:right;width:9%;border-bottom:4px double rgb(0, 0, 0);background-color:rgb(204, 238, 255);vertical-align:bottom"> <div style="line-height:1.25">1,463,056</div> </td> <td colspan="1" style="vertical-align:bottom;width:1%;padding-bottom:4px;background-color:rgb(204, 238, 255);vertical-align:bottom;white-space:nowrap"> </td> <td colspan="1" style="vertical-align:bottom;width:1%;padding-bottom:4px;background-color:rgb(204, 238, 255);vertical-align:bottom"> </td> <td colspan="1" style="vertical-align:bottom;width:1%;border-bottom:4px double rgb(0, 0, 0);background-color:rgb(204, 238, 255);vertical-align:bottom"> <div style="line-height:1.25">$</div> </td> <td colspan="1" style="vertical-align:bottom;text-align:right;width:9%;border-bottom:4px double rgb(0, 0, 0);background-color:rgb(204, 238, 255);vertical-align:bottom"> <div style="line-height:1.25">1,286,622</div> </td> <td colspan="1" style="vertical-align:bottom;width:1%;padding-bottom:4px;background-color:rgb(204, 238, 255);vertical-align:bottom;white-space:nowrap"> </td> </tr> </table> </div> </div> </div> <div style="line-height:1.25;clear:both;margin-top:0pt;margin-bottom:0pt"> </div> <div style="margin-top:0px;margin-bottom:0px"></div> <div style="line-height:1.25"> <div style="text-align:justify;line-height:1.25"> <div style="line-height:1.25"> <div style="line-height:1.25"> <div style="line-height:1.25"> <div> <div style="line-height:1.25"> <table border="0" cellpadding="0" cellspacing="0" style="font-family:'Times New Roman', Times, serif;font-size:10pt;color:#000000;width:100%"> <tr> <td style="width:56pt"> <div> </div> </td> <td style="font-weight:bold;width:22pt">C.</td> <td style="font-weight:bold;width:auto"> <div> <div style="font-weight:bold"> <div style="font-weight:bold"><span style="font-weight:bold">Major Customers - as Percentage of Net Accounts Receivable Balance</span></div> </div> </div> </td> </tr> </table> <p style="margin-top:0pt;margin-bottom:0pt"> </p> </div> </div> </div> </div> </div> </div> <div style="line-height:1.25"> <div style="line-height:1.25"> <table border="0" cellpadding="0" cellspacing="0" style="font-family:'Times New Roman', Times, serif;font-size:10pt;color:#000000;width:100%"> <tr> <td style="width:56pt"> <div> </div> </td> <td style="font-weight:bold;width:22pt"> </td> <td style="font-weight:normal;width:auto"> <div> <div> <div> <div style="text-align:justify;line-height:1.25"> <div style="line-height:1.25"> <div style="line-height:1.25"> <div style="line-height:1.25">As of December 31, 2025 and 2024, one and two customers, respectively exceeded 10% of the net accounts receivable balance.</div> </div> </div> </div> </div> </div> </div> </td> </tr> </table> <p style="margin-top:0pt;margin-bottom:0pt"> </p> </div> </div> </div> <div> <div style="line-height:1.25"> <div style="line-height:1.25"> <div style="line-height:1.25"> <div style="line-height:1.25"> <div> <div style="line-height:1.25"> <table border="0" cellpadding="0" cellspacing="0" style="font-family:'Times New Roman', Times, serif;font-size:10pt;color:#000000;width:100%"> <tr> <td style="width:56pt"> <div> </div> </td> <td style="font-weight:bold;width:22pt">D.</td> <td style="font-weight:bold;width:auto"> <div> <div style="font-weight:bold"> <div style="font-weight:bold"><span style="font-weight:bold">Major Customers - as Percentage of Total Revenue</span></div> </div> </div> </td> </tr> </table> <div style="line-height:1.25"> <div style="line-height:1.25"> <table border="0" cellpadding="0" cellspacing="0" style="font-family:'Times New Roman', Times, serif;font-size:10pt;color:#000000;width:100%"> <tr> <td style="width:56pt"> <div> </div> </td> <td style="font-weight:bold;width:22pt"> </td> <td style="font-weight:normal;width:auto"> <div> <div> <div> <div style="text-align:justify;line-height:1.25"> <div style="line-height:1.25"> <div style="line-height:1.25"> <div style="line-height:1.25"> <div style="line-height:1.25">Years ended December 31, 2025, 2024 and 2023:</div> </div> </div> </div> </div> </div> </div> </div> </td> </tr> </table> <p style="margin-top:0pt;margin-bottom:0pt"> </p> </div> </div> </div> </div> </div> </div> </div> </div> <div> <div style="margin-left:99pt"> <table border="0" cellpadding="0" cellspacing="0" style="width:85%;color:rgb(0, 0, 0);font-family:Times New Roman, Times, serif;font-size:10pt;text-align:left"> <tr> <td style="vertical-align:middle;padding-bottom:2px;vertical-align:bottom"> <div style="text-align:justify;line-height:1.25">Details</div> </td> <td colspan="1" style="vertical-align:bottom;padding-bottom:2px;vertical-align:bottom"> </td> <td colspan="2" style="vertical-align:middle;border-bottom:#000000 solid 2px;vertical-align:bottom"> <div style="text-align:center;line-height:1.25">2025</div> </td> <td colspan="1" style="vertical-align:bottom;padding-bottom:2px;vertical-align:bottom;white-space:nowrap"> </td> <td colspan="1" style="vertical-align:bottom;padding-bottom:2px;vertical-align:bottom"> </td> <td colspan="2" style="vertical-align:middle;border-bottom:#000000 solid 2px;vertical-align:bottom"> <div style="text-align:center;line-height:1.25">2024</div> </td> <td colspan="1" style="vertical-align:bottom;padding-bottom:2px;vertical-align:bottom;white-space:nowrap"> </td> <td colspan="1" style="vertical-align:bottom;padding-bottom:2px;vertical-align:bottom"> </td> <td colspan="2" style="vertical-align:top;border-bottom:#000000 solid 2px;vertical-align:bottom"> <div style="text-align:center;line-height:1.25">2023</div> </td> <td colspan="1" style="vertical-align:bottom;padding-bottom:2px;vertical-align:bottom;white-space:nowrap"> </td> </tr> <tr> <td style="vertical-align:middle;width:64%;background-color:rgb(204, 238, 255);vertical-align:bottom"> <div style="text-align:justify;line-height:1.25">Customer A</div> </td> <td colspan="1" style="vertical-align:bottom;width:1%;background-color:rgb(204, 238, 255);vertical-align:bottom"> </td> <td colspan="1" style="vertical-align:bottom;width:1%;background-color:rgb(204, 238, 255);vertical-align:bottom"> </td> <td colspan="1" style="vertical-align:bottom;text-align:right;width:9%;background-color:rgb(204, 238, 255);vertical-align:bottom"> <div style="line-height:1.25">11</div> </td> <td colspan="1" style="vertical-align:bottom;width:1%;background-color:rgb(204, 238, 255);vertical-align:bottom;white-space:nowrap"> <div style="line-height:1.25">%</div> </td> <td colspan="1" style="vertical-align:bottom;width:1%;background-color:rgb(204, 238, 255);vertical-align:bottom"> </td> <td colspan="1" style="vertical-align:bottom;width:1%;background-color:rgb(204, 238, 255);vertical-align:bottom"> </td> <td colspan="1" style="vertical-align:bottom;text-align:right;width:9%;background-color:rgb(204, 238, 255);vertical-align:bottom"> <div style="line-height:1.25">13</div> </td> <td colspan="1" style="vertical-align:bottom;width:1%;background-color:rgb(204, 238, 255);vertical-align:bottom;white-space:nowrap"> <div style="line-height:1.25">%</div> </td> <td colspan="1" style="vertical-align:bottom;width:1%;background-color:rgb(204, 238, 255);vertical-align:bottom"> </td> <td colspan="1" style="vertical-align:bottom;width:1%;background-color:rgb(204, 238, 255);vertical-align:bottom"> </td> <td colspan="1" style="vertical-align:bottom;text-align:right;width:9%;background-color:rgb(204, 238, 255);vertical-align:bottom"> <div style="line-height:1.25">14</div> </td> <td colspan="1" style="vertical-align:bottom;width:1%;background-color:rgb(204, 238, 255);vertical-align:bottom;white-space:nowrap"> <div style="line-height:1.25">%</div> </td> </tr> <tr> <td style="vertical-align:middle;width:64%;vertical-align:bottom"> <div style="text-align:justify;line-height:1.25">Customer B</div> </td> <td colspan="1" style="vertical-align:bottom;width:1%;vertical-align:bottom"> </td> <td colspan="1" style="vertical-align:bottom;width:1%;vertical-align:bottom"> </td> <td colspan="1" style="vertical-align:bottom;text-align:right;width:9%;vertical-align:bottom"> <div style="line-height:1.25">7</div> </td> <td colspan="1" style="vertical-align:bottom;width:1%;vertical-align:bottom;white-space:nowrap"> </td> <td colspan="1" style="vertical-align:bottom;width:1%;vertical-align:bottom"> </td> <td colspan="1" style="vertical-align:bottom;width:1%;vertical-align:bottom"> </td> <td colspan="1" style="vertical-align:bottom;text-align:right;width:9%;vertical-align:bottom"> <div style="line-height:1.25">11</div> </td> <td colspan="1" style="vertical-align:bottom;width:1%;vertical-align:bottom;white-space:nowrap"> </td> <td colspan="1" style="vertical-align:bottom;width:1%;vertical-align:bottom"> </td> <td colspan="1" style="vertical-align:bottom;width:1%;vertical-align:bottom"> </td> <td colspan="1" style="vertical-align:bottom;text-align:right;width:9%;vertical-align:bottom"> <div style="line-height:1.25">9</div> </td> <td colspan="1" style="vertical-align:bottom;width:1%;vertical-align:bottom;white-space:nowrap"> </td> </tr> <tr> <td style="vertical-align:middle;width:64%;background-color:rgb(204, 238, 255);vertical-align:bottom"> <div style="text-align:justify;line-height:1.25">Other customers *</div> </td> <td colspan="1" style="vertical-align:bottom;width:1%;background-color:rgb(204, 238, 255);vertical-align:bottom"> </td> <td colspan="1" style="vertical-align:bottom;width:1%;background-color:rgb(204, 238, 255);vertical-align:bottom"> </td> <td colspan="1" style="vertical-align:bottom;text-align:right;width:9%;background-color:rgb(204, 238, 255);vertical-align:bottom"> <div style="line-height:1.25">32</div> </td> <td colspan="1" style="vertical-align:bottom;width:1%;background-color:rgb(204, 238, 255);vertical-align:bottom;white-space:nowrap"> </td> <td colspan="1" style="vertical-align:bottom;width:1%;background-color:rgb(204, 238, 255);vertical-align:bottom"> </td> <td colspan="1" style="vertical-align:bottom;width:1%;background-color:rgb(204, 238, 255);vertical-align:bottom"> </td> <td colspan="1" style="vertical-align:bottom;text-align:right;width:9%;background-color:rgb(204, 238, 255);vertical-align:bottom"> <div style="line-height:1.25">16</div> </td> <td colspan="1" style="vertical-align:bottom;width:1%;background-color:rgb(204, 238, 255);vertical-align:bottom;white-space:nowrap"> </td> <td colspan="1" style="vertical-align:bottom;width:1%;background-color:rgb(204, 238, 255);vertical-align:bottom"> </td> <td colspan="1" style="vertical-align:bottom;width:1%;background-color:rgb(204, 238, 255);vertical-align:bottom"> </td> <td colspan="1" style="vertical-align:bottom;text-align:right;width:9%;background-color:rgb(204, 238, 255);vertical-align:bottom"> <div style="line-height:1.25">21</div> </td> <td colspan="1" style="vertical-align:bottom;width:1%;background-color:rgb(204, 238, 255);vertical-align:bottom;white-space:nowrap"> </td> </tr> </table> </div> <div style="line-height:1.25;clear:both"> <div style="line-height:1.25"> <div style="line-height:1.25"> <table border="0" cellpadding="0" cellspacing="0" style="font-family:'Times New Roman', Times, serif;font-size:10pt;color:#000000;width:100%"> <tr> <td style="width:56pt"> <div> </div> </td> <td style="font-weight:bold;text-align:left;vertical-align:top;width:22pt">*</td> <td style="font-weight:normal;text-align:left;vertical-align:top;width:auto"> <div> <div> <div> <div style="line-height:1.25"> <div style="line-height:1.25"> <div style="line-height:1.25"> <div style="line-height:1.25"> <div style="line-height:1.25"> <div style="text-align:justify">Represents aggregated revenue to six customers that accounted for between 4% and 7% of total revenue during 2025, to three customers that accounted for between 3% and 9% of total revenue during 2024, and to three customers that accounted for between 3% and 9% of total revenue during 2023.</div> </div> </div> </div> </div> </div> </div> </div> </div> </td> </tr> </table> </div> </div> </div> </div> </div> <div style="line-height:1.25;clear:both"> <div style="line-height:1.25"> <div style="line-height:1.25"> <div style="line-height:1.25"> <div style="line-height:1.25"> <div style="line-height:1.25"> <div style="line-height:1.25"> <div> <div style="line-height:1.25"> <table border="0" cellpadding="0" cellspacing="0" style="font-family:'Times New Roman', Times, serif;font-size:10pt;color:#000000;width:100%"> <tr> <td style="width:56pt"> <div> </div> </td> <td style="font-weight:bold;width:22pt">E.</td> <td style="font-weight:bold;width:auto"> <div> <div style="font-weight:bold"> <div style="font-weight:bold"><span style="font-weight:bold">Reportable Segment</span></div> </div> </div> </td> </tr> </table> <div style="line-height:1.25"> <div style="line-height:1.25"> <table border="0" cellpadding="0" cellspacing="0" style="font-family:'Times New Roman', Times, serif;font-size:10pt;color:#000000;width:100%"> <tr> <td style="width:56pt"> <div> </div> </td> <td style="font-weight:bold;width:22pt"> </td> <td style="font-weight:normal;width:auto"> <div> <div> <div> <div style="text-align:justify;line-height:1.25"> <div style="line-height:1.25"> <div style="line-height:1.25"> <div style="line-height:1.25"> <div style="line-height:1.25"> <div style="line-height:1.25">(1) The Company believes it is driving its revenue from a single reportable segment, which is its analog foundry operations that is providing semiconductor solutions offering a broad range of process technologies. To provide the capacity and expanded capabilities for its customers, as of December 31, 2025, the Company owns multiple facilities and is sharing capacity and/ or ownership in other facilities as described in Note 1.</div> <div style="line-height:1.25"> </div> <div style="line-height:1.25">(2) Since the Company has a single reportable segment, the accounting policies of the segment are the same as those described in the summary of significant accounting policies. The chief operating decision maker (“CODM”) assesses performance and decides how to allocate resources based on the consolidated results of the Company.</div> <div style="line-height:1.25"> </div> <div style="line-height:1.25">(3) Since the Company has a single reportable segment, its CODM does not allocate resources among segments but is responsible for allocating the entity’s resources. The CODM uses the consolidated measures of profit or loss mostly when assessing performance rather than allocating resources.</div> <div style="line-height:1.25"> </div> <div style="line-height:1.25">(4) Since the Company has a single reportable segment, it manages its business activities on a consolidated basis.</div> <div style="line-height:1.25"> </div> <div style="line-height:1.25">(5) The Company’s CODM is the chief executive officer of the Company.</div> </div> </div> </div> </div> </div> </div> </div> </div> </td> </tr> </table> </div> </div> </div> </div> </div> </div> </div> </div> </div> </div> </div> </div> <div> <div style="margin-left:99pt"> <table border="0" cellpadding="0" cellspacing="0" style="width:85%;color:rgb(0, 0, 0);font-family:Times New Roman, Times, serif;font-size:10pt;text-align:left"> <tr> <td style="vertical-align:middle;padding-bottom:2px;vertical-align:bottom"> <div style="text-align:justify;line-height:1.25">Details</div> </td> <td colspan="1" style="vertical-align:bottom;padding-bottom:2px;vertical-align:bottom"> </td> <td colspan="2" style="vertical-align:middle;border-bottom:#000000 solid 2px;vertical-align:bottom"> <div style="text-align:center;line-height:1.25">2025</div> </td> <td colspan="1" style="vertical-align:bottom;padding-bottom:2px;vertical-align:bottom;white-space:nowrap"> </td> <td colspan="1" style="vertical-align:bottom;padding-bottom:2px;vertical-align:bottom"> </td> <td colspan="2" style="vertical-align:middle;border-bottom:#000000 solid 2px;vertical-align:bottom"> <div style="text-align:center;line-height:1.25">2024</div> </td> <td colspan="1" style="vertical-align:bottom;padding-bottom:2px;vertical-align:bottom;white-space:nowrap"> </td> <td colspan="1" style="vertical-align:bottom;padding-bottom:2px;vertical-align:bottom"> </td> <td colspan="2" style="vertical-align:middle;border-bottom:#000000 solid 2px;vertical-align:bottom"> <div style="text-align:center;line-height:1.25">2023</div> </td> <td colspan="1" style="vertical-align:bottom;padding-bottom:2px;vertical-align:bottom;white-space:nowrap"> </td> </tr> <tr> <td style="vertical-align:middle;width:64%;background-color:rgb(204, 238, 255);vertical-align:bottom"> <div style="text-align:justify;line-height:1.25">USA</div> </td> <td colspan="1" style="vertical-align:bottom;width:1%;background-color:rgb(204, 238, 255);vertical-align:bottom"> </td> <td colspan="1" style="vertical-align:bottom;width:1%;background-color:rgb(204, 238, 255);vertical-align:bottom"> </td> <td colspan="1" style="vertical-align:bottom;text-align:right;width:9%;background-color:rgb(204, 238, 255);vertical-align:bottom"> <div style="line-height:1.25">42</div> </td> <td colspan="1" style="vertical-align:bottom;width:1%;background-color:rgb(204, 238, 255);vertical-align:bottom;white-space:nowrap"> <div style="line-height:1.25">%</div> </td> <td colspan="1" style="vertical-align:bottom;width:1%;background-color:rgb(204, 238, 255);vertical-align:bottom"> </td> <td colspan="1" style="vertical-align:bottom;width:1%;background-color:rgb(204, 238, 255);vertical-align:bottom"> </td> <td colspan="1" style="vertical-align:bottom;text-align:right;width:9%;background-color:rgb(204, 238, 255);vertical-align:bottom"> <div style="line-height:1.25">42</div> </td> <td colspan="1" style="vertical-align:bottom;width:1%;background-color:rgb(204, 238, 255);vertical-align:bottom;white-space:nowrap"> <div style="line-height:1.25">%</div> </td> <td colspan="1" style="vertical-align:bottom;width:1%;background-color:rgb(204, 238, 255);vertical-align:bottom"> </td> <td colspan="1" style="vertical-align:bottom;width:1%;background-color:rgb(204, 238, 255);vertical-align:bottom"> </td> <td colspan="1" style="vertical-align:bottom;text-align:right;width:9%;background-color:rgb(204, 238, 255);vertical-align:bottom"> <div style="line-height:1.25">46</div> </td> <td colspan="1" style="vertical-align:bottom;width:1%;background-color:rgb(204, 238, 255);vertical-align:bottom;white-space:nowrap"> <div style="line-height:1.25">%</div> </td> </tr> <tr> <td style="vertical-align:middle;width:64%;vertical-align:bottom"> <div style="text-align:justify;line-height:1.25">Japan</div> </td> <td colspan="1" style="vertical-align:bottom;width:1%;vertical-align:bottom"> </td> <td colspan="1" style="vertical-align:bottom;width:1%;vertical-align:bottom"> </td> <td colspan="1" style="vertical-align:bottom;text-align:right;width:9%;vertical-align:bottom"> <div style="line-height:1.25">13</div> </td> <td colspan="1" style="vertical-align:bottom;width:1%;vertical-align:bottom;white-space:nowrap"> </td> <td colspan="1" style="vertical-align:bottom;width:1%;vertical-align:bottom"> </td> <td colspan="1" style="vertical-align:bottom;width:1%;vertical-align:bottom"> </td> <td colspan="1" style="vertical-align:bottom;text-align:right;width:9%;vertical-align:bottom"> <div style="line-height:1.25">16</div> </td> <td colspan="1" style="vertical-align:bottom;width:1%;vertical-align:bottom;white-space:nowrap"> </td> <td colspan="1" style="vertical-align:bottom;width:1%;vertical-align:bottom"> </td> <td colspan="1" style="vertical-align:bottom;width:1%;vertical-align:bottom"> </td> <td colspan="1" style="vertical-align:bottom;text-align:right;width:9%;vertical-align:bottom"> <div style="line-height:1.25">17</div> </td> <td colspan="1" style="vertical-align:bottom;width:1%;vertical-align:bottom;white-space:nowrap"> </td> </tr> <tr> <td style="vertical-align:middle;width:64%;background-color:rgb(204, 238, 255);vertical-align:bottom"> <div style="text-align:justify;line-height:1.25">Asia (other than Japan)</div> </td> <td colspan="1" style="vertical-align:bottom;width:1%;background-color:rgb(204, 238, 255);vertical-align:bottom"> </td> <td colspan="1" style="vertical-align:bottom;width:1%;background-color:rgb(204, 238, 255);vertical-align:bottom"> </td> <td colspan="1" style="vertical-align:bottom;text-align:right;width:9%;background-color:rgb(204, 238, 255);vertical-align:bottom"> <div style="line-height:1.25">39</div> </td> <td colspan="1" style="vertical-align:bottom;width:1%;background-color:rgb(204, 238, 255);vertical-align:bottom;white-space:nowrap"> </td> <td colspan="1" style="vertical-align:bottom;width:1%;background-color:rgb(204, 238, 255);vertical-align:bottom"> </td> <td colspan="1" style="vertical-align:bottom;width:1%;background-color:rgb(204, 238, 255);vertical-align:bottom"> </td> <td colspan="1" style="vertical-align:bottom;text-align:right;width:9%;background-color:rgb(204, 238, 255);vertical-align:bottom"> <div style="line-height:1.25">33</div> </td> <td colspan="1" style="vertical-align:bottom;width:1%;background-color:rgb(204, 238, 255);vertical-align:bottom;white-space:nowrap"> </td> <td colspan="1" style="vertical-align:bottom;width:1%;background-color:rgb(204, 238, 255);vertical-align:bottom"> </td> <td colspan="1" style="vertical-align:bottom;width:1%;background-color:rgb(204, 238, 255);vertical-align:bottom"> </td> <td colspan="1" style="vertical-align:bottom;text-align:right;width:9%;background-color:rgb(204, 238, 255);vertical-align:bottom"> <div style="line-height:1.25">27</div> </td> <td colspan="1" style="vertical-align:bottom;width:1%;background-color:rgb(204, 238, 255);vertical-align:bottom;white-space:nowrap"> </td> </tr> <tr> <td style="vertical-align:middle;width:64%;padding-bottom:2px;vertical-align:bottom"> <div style="text-align:justify;line-height:1.25">Europe</div> </td> <td colspan="1" style="vertical-align:bottom;width:1%;padding-bottom:2px;vertical-align:bottom"> </td> <td colspan="1" style="vertical-align:bottom;width:1%;border-bottom:2px solid rgb(0, 0, 0);vertical-align:bottom"> </td> <td colspan="1" style="vertical-align:bottom;text-align:right;width:9%;border-bottom:2px solid rgb(0, 0, 0);vertical-align:bottom"> <div style="line-height:1.25">6</div> </td> <td colspan="1" style="vertical-align:bottom;width:1%;padding-bottom:2px;vertical-align:bottom;white-space:nowrap"> </td> <td colspan="1" style="vertical-align:bottom;width:1%;padding-bottom:2px;vertical-align:bottom"> </td> <td colspan="1" style="vertical-align:bottom;width:1%;border-bottom:2px solid rgb(0, 0, 0);vertical-align:bottom"> </td> <td colspan="1" style="vertical-align:bottom;text-align:right;width:9%;border-bottom:2px solid rgb(0, 0, 0);vertical-align:bottom"> <div style="line-height:1.25">9</div> </td> <td colspan="1" style="vertical-align:bottom;width:1%;padding-bottom:2px;vertical-align:bottom;white-space:nowrap"> </td> <td colspan="1" style="vertical-align:bottom;width:1%;padding-bottom:2px;vertical-align:bottom"> </td> <td colspan="1" style="vertical-align:bottom;width:1%;border-bottom:2px solid rgb(0, 0, 0);vertical-align:bottom"> </td> <td colspan="1" style="vertical-align:bottom;text-align:right;width:9%;border-bottom:2px solid rgb(0, 0, 0);vertical-align:bottom"> <div style="line-height:1.25">10</div> </td> <td colspan="1" style="vertical-align:bottom;width:1%;padding-bottom:2px;vertical-align:bottom;white-space:nowrap"> </td> </tr> <tr> <td style="vertical-align:middle;width:64%;padding-bottom:4px;background-color:rgb(204, 238, 255);vertical-align:bottom"> <div style="text-align:justify;line-height:1.25">Total</div> </td> <td colspan="1" style="vertical-align:bottom;width:1%;padding-bottom:4px;background-color:rgb(204, 238, 255);vertical-align:bottom"> </td> <td colspan="1" style="vertical-align:bottom;width:1%;border-bottom:4px double rgb(0, 0, 0);background-color:rgb(204, 238, 255);vertical-align:bottom"> </td> <td colspan="1" style="vertical-align:bottom;text-align:right;width:9%;border-bottom:4px double rgb(0, 0, 0);background-color:rgb(204, 238, 255);vertical-align:bottom"> <div style="line-height:1.25">100</div> </td> <td colspan="1" style="vertical-align:bottom;width:1%;padding-bottom:4px;background-color:rgb(204, 238, 255);vertical-align:bottom;white-space:nowrap"> <div style="line-height:1.25">%</div> </td> <td colspan="1" style="vertical-align:bottom;width:1%;padding-bottom:4px;background-color:rgb(204, 238, 255);vertical-align:bottom"> </td> <td colspan="1" style="vertical-align:bottom;width:1%;border-bottom:4px double rgb(0, 0, 0);background-color:rgb(204, 238, 255);vertical-align:bottom"> </td> <td colspan="1" style="vertical-align:bottom;text-align:right;width:9%;border-bottom:4px double rgb(0, 0, 0);background-color:rgb(204, 238, 255);vertical-align:bottom"> <div style="line-height:1.25">100</div> </td> <td colspan="1" style="vertical-align:bottom;width:1%;padding-bottom:4px;background-color:rgb(204, 238, 255);vertical-align:bottom;white-space:nowrap"> <div style="line-height:1.25">%</div> </td> <td colspan="1" style="vertical-align:bottom;width:1%;padding-bottom:4px;background-color:rgb(204, 238, 255);vertical-align:bottom"> </td> <td colspan="1" style="vertical-align:bottom;width:1%;border-bottom:4px double rgb(0, 0, 0);background-color:rgb(204, 238, 255);vertical-align:bottom"> </td> <td colspan="1" style="vertical-align:bottom;text-align:right;width:9%;border-bottom:4px double rgb(0, 0, 0);background-color:rgb(204, 238, 255);vertical-align:bottom"> <div style="line-height:1.25">100</div> </td> <td colspan="1" style="vertical-align:bottom;width:1%;padding-bottom:4px;background-color:rgb(204, 238, 255);vertical-align:bottom;white-space:nowrap"> <div style="line-height:1.25">%</div> </td> </tr> </table> </div> </div> 0.42 0.42 0.46 0.13 0.16 0.17 0.39 0.33 0.27 0.06 0.09 0.10 1 1 1 <div> <div style="margin-left:99pt"> <table border="0" cellpadding="0" cellspacing="0" style="width:85%;color:rgb(0, 0, 0);font-family:Times New Roman, Times, serif;font-size:10pt;text-align:left"> <tr> <td style="vertical-align:middle;padding-bottom:2px;vertical-align:bottom"> <div style="text-align:justify;line-height:1.25">Details</div> </td> <td colspan="1" style="vertical-align:bottom;padding-bottom:2px;vertical-align:bottom"> </td> <td colspan="2" style="vertical-align:middle;border-bottom:#000000 solid 2px;vertical-align:bottom"> <div style="text-align:center;line-height:1.25">2025</div> </td> <td colspan="1" style="vertical-align:bottom;padding-bottom:2px;vertical-align:bottom;white-space:nowrap"> </td> <td colspan="1" style="vertical-align:bottom;padding-bottom:2px;vertical-align:bottom"> </td> <td colspan="2" style="vertical-align:middle;border-bottom:#000000 solid 2px;vertical-align:bottom"> <div style="text-align:center;line-height:1.25">2024</div> </td> <td colspan="1" style="vertical-align:bottom;padding-bottom:2px;vertical-align:bottom;white-space:nowrap"> </td> </tr> <tr> <td style="vertical-align:middle;width:76%;background-color:rgb(204, 238, 255);vertical-align:bottom"> <div style="text-align:justify;line-height:1.25">Israel</div> </td> <td colspan="1" style="vertical-align:bottom;width:1%;background-color:rgb(204, 238, 255);vertical-align:bottom"> </td> <td colspan="1" style="vertical-align:bottom;width:1%;background-color:rgb(204, 238, 255);vertical-align:bottom"> <div style="line-height:1.25">$</div> </td> <td colspan="1" style="vertical-align:bottom;text-align:right;width:9%;background-color:rgb(204, 238, 255);vertical-align:bottom"> <div style="line-height:1.25">348,558</div> </td> <td colspan="1" style="vertical-align:bottom;width:1%;background-color:rgb(204, 238, 255);vertical-align:bottom;white-space:nowrap"> </td> <td colspan="1" style="vertical-align:bottom;width:1%;background-color:rgb(204, 238, 255);vertical-align:bottom"> </td> <td colspan="1" style="vertical-align:bottom;width:1%;background-color:rgb(204, 238, 255);vertical-align:bottom"> <div style="line-height:1.25">$</div> </td> <td colspan="1" style="vertical-align:bottom;text-align:right;width:9%;background-color:rgb(204, 238, 255);vertical-align:bottom"> <div style="line-height:1.25">279,023</div> </td> <td colspan="1" style="vertical-align:bottom;width:1%;background-color:rgb(204, 238, 255);vertical-align:bottom;white-space:nowrap"> </td> </tr> <tr> <td style="vertical-align:middle;width:76%;vertical-align:bottom"> <div style="text-align:justify;line-height:1.25">United States</div> </td> <td colspan="1" style="vertical-align:bottom;width:1%;vertical-align:bottom"> </td> <td colspan="1" style="vertical-align:bottom;width:1%;vertical-align:bottom"> </td> <td colspan="1" style="vertical-align:bottom;text-align:right;width:9%;vertical-align:bottom"> <div style="line-height:1.25">399,227</div> </td> <td colspan="1" style="vertical-align:bottom;width:1%;vertical-align:bottom;white-space:nowrap"> </td> <td colspan="1" style="vertical-align:bottom;width:1%;vertical-align:bottom"> </td> <td colspan="1" style="vertical-align:bottom;width:1%;vertical-align:bottom"> </td> <td colspan="1" style="vertical-align:bottom;text-align:right;width:9%;vertical-align:bottom"> <div style="line-height:1.25">322,947</div> </td> <td colspan="1" style="vertical-align:bottom;width:1%;vertical-align:bottom;white-space:nowrap"> </td> </tr> <tr> <td style="vertical-align:middle;width:76%;background-color:rgb(204, 238, 255);vertical-align:bottom"> <div style="text-align:justify;line-height:1.25">Europe</div> </td> <td colspan="1" style="vertical-align:bottom;width:1%;background-color:rgb(204, 238, 255);vertical-align:bottom"> </td> <td colspan="1" style="vertical-align:bottom;width:1%;background-color:rgb(204, 238, 255);vertical-align:bottom"> </td> <td colspan="1" style="vertical-align:bottom;text-align:right;width:9%;background-color:rgb(204, 238, 255);vertical-align:bottom"> <div style="line-height:1.25">462,794</div> </td> <td colspan="1" style="vertical-align:bottom;width:1%;background-color:rgb(204, 238, 255);vertical-align:bottom;white-space:nowrap"> </td> <td colspan="1" style="vertical-align:bottom;width:1%;background-color:rgb(204, 238, 255);vertical-align:bottom"> </td> <td colspan="1" style="vertical-align:bottom;width:1%;background-color:rgb(204, 238, 255);vertical-align:bottom"> </td> <td colspan="1" style="vertical-align:bottom;text-align:right;width:9%;background-color:rgb(204, 238, 255);vertical-align:bottom"> <div style="line-height:1.25">452,557</div> </td> <td colspan="1" style="vertical-align:bottom;width:1%;background-color:rgb(204, 238, 255);vertical-align:bottom;white-space:nowrap"> </td> </tr> <tr> <td style="vertical-align:middle;width:76%;padding-bottom:2px;vertical-align:bottom"> <div style="text-align:justify;line-height:1.25">Japan</div> </td> <td colspan="1" style="vertical-align:bottom;width:1%;padding-bottom:2px;vertical-align:bottom"> </td> <td colspan="1" style="vertical-align:bottom;width:1%;border-bottom:2px solid rgb(0, 0, 0);vertical-align:bottom"> </td> <td colspan="1" style="vertical-align:bottom;text-align:right;width:9%;border-bottom:2px solid rgb(0, 0, 0);vertical-align:bottom"> <div style="line-height:1.25">252,477</div> </td> <td colspan="1" style="vertical-align:bottom;width:1%;padding-bottom:2px;vertical-align:bottom;white-space:nowrap"> </td> <td colspan="1" style="vertical-align:bottom;width:1%;padding-bottom:2px;vertical-align:bottom"> </td> <td colspan="1" style="vertical-align:bottom;width:1%;border-bottom:2px solid rgb(0, 0, 0);vertical-align:bottom"> </td> <td colspan="1" style="vertical-align:bottom;text-align:right;width:9%;border-bottom:2px solid rgb(0, 0, 0);vertical-align:bottom"> <div style="line-height:1.25">232,095</div> </td> <td colspan="1" style="vertical-align:bottom;width:1%;padding-bottom:2px;vertical-align:bottom;white-space:nowrap"> </td> </tr> <tr> <td style="vertical-align:middle;width:76%;padding-bottom:4px;background-color:rgb(204, 238, 255);vertical-align:bottom"> </td> <td colspan="1" style="vertical-align:bottom;width:1%;padding-bottom:4px;background-color:rgb(204, 238, 255);vertical-align:bottom"> </td> <td colspan="1" style="vertical-align:bottom;width:1%;border-bottom:4px double rgb(0, 0, 0);background-color:rgb(204, 238, 255);vertical-align:bottom"> <div style="line-height:1.25">$</div> </td> <td colspan="1" style="vertical-align:bottom;text-align:right;width:9%;border-bottom:4px double rgb(0, 0, 0);background-color:rgb(204, 238, 255);vertical-align:bottom"> <div style="line-height:1.25">1,463,056</div> </td> <td colspan="1" style="vertical-align:bottom;width:1%;padding-bottom:4px;background-color:rgb(204, 238, 255);vertical-align:bottom;white-space:nowrap"> </td> <td colspan="1" style="vertical-align:bottom;width:1%;padding-bottom:4px;background-color:rgb(204, 238, 255);vertical-align:bottom"> </td> <td colspan="1" style="vertical-align:bottom;width:1%;border-bottom:4px double rgb(0, 0, 0);background-color:rgb(204, 238, 255);vertical-align:bottom"> <div style="line-height:1.25">$</div> </td> <td colspan="1" style="vertical-align:bottom;text-align:right;width:9%;border-bottom:4px double rgb(0, 0, 0);background-color:rgb(204, 238, 255);vertical-align:bottom"> <div style="line-height:1.25">1,286,622</div> </td> <td colspan="1" style="vertical-align:bottom;width:1%;padding-bottom:4px;background-color:rgb(204, 238, 255);vertical-align:bottom;white-space:nowrap"> </td> </tr> </table> </div> </div> 348558000 279023000 399227000 322947000 462794000 452557000 252477000 232095000 1463056000 1286622000 <div> <div style="margin-left:99pt"> <table border="0" cellpadding="0" cellspacing="0" style="width:85%;color:rgb(0, 0, 0);font-family:Times New Roman, Times, serif;font-size:10pt;text-align:left"> <tr> <td style="vertical-align:middle;padding-bottom:2px;vertical-align:bottom"> <div style="text-align:justify;line-height:1.25">Details</div> </td> <td colspan="1" style="vertical-align:bottom;padding-bottom:2px;vertical-align:bottom"> </td> <td colspan="2" style="vertical-align:middle;border-bottom:#000000 solid 2px;vertical-align:bottom"> <div style="text-align:center;line-height:1.25">2025</div> </td> <td colspan="1" style="vertical-align:bottom;padding-bottom:2px;vertical-align:bottom;white-space:nowrap"> </td> <td colspan="1" style="vertical-align:bottom;padding-bottom:2px;vertical-align:bottom"> </td> <td colspan="2" style="vertical-align:middle;border-bottom:#000000 solid 2px;vertical-align:bottom"> <div style="text-align:center;line-height:1.25">2024</div> </td> <td colspan="1" style="vertical-align:bottom;padding-bottom:2px;vertical-align:bottom;white-space:nowrap"> </td> <td colspan="1" style="vertical-align:bottom;padding-bottom:2px;vertical-align:bottom"> </td> <td colspan="2" style="vertical-align:top;border-bottom:#000000 solid 2px;vertical-align:bottom"> <div style="text-align:center;line-height:1.25">2023</div> </td> <td colspan="1" style="vertical-align:bottom;padding-bottom:2px;vertical-align:bottom;white-space:nowrap"> </td> </tr> <tr> <td style="vertical-align:middle;width:64%;background-color:rgb(204, 238, 255);vertical-align:bottom"> <div style="text-align:justify;line-height:1.25">Customer A</div> </td> <td colspan="1" style="vertical-align:bottom;width:1%;background-color:rgb(204, 238, 255);vertical-align:bottom"> </td> <td colspan="1" style="vertical-align:bottom;width:1%;background-color:rgb(204, 238, 255);vertical-align:bottom"> </td> <td colspan="1" style="vertical-align:bottom;text-align:right;width:9%;background-color:rgb(204, 238, 255);vertical-align:bottom"> <div style="line-height:1.25">11</div> </td> <td colspan="1" style="vertical-align:bottom;width:1%;background-color:rgb(204, 238, 255);vertical-align:bottom;white-space:nowrap"> <div style="line-height:1.25">%</div> </td> <td colspan="1" style="vertical-align:bottom;width:1%;background-color:rgb(204, 238, 255);vertical-align:bottom"> </td> <td colspan="1" style="vertical-align:bottom;width:1%;background-color:rgb(204, 238, 255);vertical-align:bottom"> </td> <td colspan="1" style="vertical-align:bottom;text-align:right;width:9%;background-color:rgb(204, 238, 255);vertical-align:bottom"> <div style="line-height:1.25">13</div> </td> <td colspan="1" style="vertical-align:bottom;width:1%;background-color:rgb(204, 238, 255);vertical-align:bottom;white-space:nowrap"> <div style="line-height:1.25">%</div> </td> <td colspan="1" style="vertical-align:bottom;width:1%;background-color:rgb(204, 238, 255);vertical-align:bottom"> </td> <td colspan="1" style="vertical-align:bottom;width:1%;background-color:rgb(204, 238, 255);vertical-align:bottom"> </td> <td colspan="1" style="vertical-align:bottom;text-align:right;width:9%;background-color:rgb(204, 238, 255);vertical-align:bottom"> <div style="line-height:1.25">14</div> </td> <td colspan="1" style="vertical-align:bottom;width:1%;background-color:rgb(204, 238, 255);vertical-align:bottom;white-space:nowrap"> <div style="line-height:1.25">%</div> </td> </tr> <tr> <td style="vertical-align:middle;width:64%;vertical-align:bottom"> <div style="text-align:justify;line-height:1.25">Customer B</div> </td> <td colspan="1" style="vertical-align:bottom;width:1%;vertical-align:bottom"> </td> <td colspan="1" style="vertical-align:bottom;width:1%;vertical-align:bottom"> </td> <td colspan="1" style="vertical-align:bottom;text-align:right;width:9%;vertical-align:bottom"> <div style="line-height:1.25">7</div> </td> <td colspan="1" style="vertical-align:bottom;width:1%;vertical-align:bottom;white-space:nowrap"> </td> <td colspan="1" style="vertical-align:bottom;width:1%;vertical-align:bottom"> </td> <td colspan="1" style="vertical-align:bottom;width:1%;vertical-align:bottom"> </td> <td colspan="1" style="vertical-align:bottom;text-align:right;width:9%;vertical-align:bottom"> <div style="line-height:1.25">11</div> </td> <td colspan="1" style="vertical-align:bottom;width:1%;vertical-align:bottom;white-space:nowrap"> </td> <td colspan="1" style="vertical-align:bottom;width:1%;vertical-align:bottom"> </td> <td colspan="1" style="vertical-align:bottom;width:1%;vertical-align:bottom"> </td> <td colspan="1" style="vertical-align:bottom;text-align:right;width:9%;vertical-align:bottom"> <div style="line-height:1.25">9</div> </td> <td colspan="1" style="vertical-align:bottom;width:1%;vertical-align:bottom;white-space:nowrap"> </td> </tr> <tr> <td style="vertical-align:middle;width:64%;background-color:rgb(204, 238, 255);vertical-align:bottom"> <div style="text-align:justify;line-height:1.25">Other customers *</div> </td> <td colspan="1" style="vertical-align:bottom;width:1%;background-color:rgb(204, 238, 255);vertical-align:bottom"> </td> <td colspan="1" style="vertical-align:bottom;width:1%;background-color:rgb(204, 238, 255);vertical-align:bottom"> </td> <td colspan="1" style="vertical-align:bottom;text-align:right;width:9%;background-color:rgb(204, 238, 255);vertical-align:bottom"> <div style="line-height:1.25">32</div> </td> <td colspan="1" style="vertical-align:bottom;width:1%;background-color:rgb(204, 238, 255);vertical-align:bottom;white-space:nowrap"> </td> <td colspan="1" style="vertical-align:bottom;width:1%;background-color:rgb(204, 238, 255);vertical-align:bottom"> </td> <td colspan="1" style="vertical-align:bottom;width:1%;background-color:rgb(204, 238, 255);vertical-align:bottom"> </td> <td colspan="1" style="vertical-align:bottom;text-align:right;width:9%;background-color:rgb(204, 238, 255);vertical-align:bottom"> <div style="line-height:1.25">16</div> </td> <td colspan="1" style="vertical-align:bottom;width:1%;background-color:rgb(204, 238, 255);vertical-align:bottom;white-space:nowrap"> </td> <td colspan="1" style="vertical-align:bottom;width:1%;background-color:rgb(204, 238, 255);vertical-align:bottom"> </td> <td colspan="1" style="vertical-align:bottom;width:1%;background-color:rgb(204, 238, 255);vertical-align:bottom"> </td> <td colspan="1" style="vertical-align:bottom;text-align:right;width:9%;background-color:rgb(204, 238, 255);vertical-align:bottom"> <div style="line-height:1.25">21</div> </td> <td colspan="1" style="vertical-align:bottom;width:1%;background-color:rgb(204, 238, 255);vertical-align:bottom;white-space:nowrap"> </td> </tr> </table> </div> <div style="line-height:1.25;clear:both"> <div style="line-height:1.25"> <div style="line-height:1.25"> <table border="0" cellpadding="0" cellspacing="0" style="font-family:'Times New Roman', Times, serif;font-size:10pt;color:#000000;width:100%"> <tr> <td style="width:56pt"> <div> </div> </td> <td style="font-weight:bold;text-align:left;vertical-align:top;width:22pt">*</td> <td style="font-weight:normal;text-align:left;vertical-align:top;width:auto"> <div> <div> <div> <div style="line-height:1.25"> <div style="line-height:1.25"> <div style="line-height:1.25"> <div style="line-height:1.25"> <div style="line-height:1.25"> <div style="text-align:justify">Represents aggregated revenue to six customers that accounted for between 4% and 7% of total revenue during 2025, to three customers that accounted for between 3% and 9% of total revenue during 2024, and to three customers that accounted for between 3% and 9% of total revenue during 2023.</div> </div> </div> </div> </div> </div> </div> </div> </div> </td> </tr> </table> </div> </div> </div> </div> 0.11 0.13 0.14 0.07 0.11 0.09 0.32 0.16 0.21 0.04 0.07 0.03 0.09 0.03 0.09 <div> <div style="line-height:1.25"> <div style="line-height:1.25"> <div style="text-align:justify;line-height:1.25"> <div style="line-height:1.25"> <div style="line-height:1.25"> <div style="line-height:1.25"> <div style="line-height:1.25"> <div style="line-height:1.25"> <div style="line-height:1.25"> <div style="line-height:1.25"> <div style="line-height:1.25"> <table border="0" cellpadding="0" cellspacing="0" style="font-family:'Times New Roman', Times, serif;font-size:10pt;color:#000000;width:100%"> <tr> <td style="width:56pt"><span style="font-weight:bold">NOTE 15:</span></td> <td style="width:auto"><span style="font-weight:bold">FINANCING INCOME, NET</span></td> </tr> </table> <div style="line-height:1.25">          </div> </div> </div> </div> </div> </div> </div> </div> </div> </div> </div> </div> <div> <div style="line-height:1.25"> <div style="line-height:1.25"> <div style="line-height:1.25"> <div style="line-height:1.25"> <table border="0" cellpadding="0" cellspacing="0" style="font-family:'Times New Roman', Times, serif;font-size:10pt;color:#000000;width:100%"> <tr> <td style="width:56pt"> <div> </div> </td> <td style="font-weight:bold;width:22pt"> </td> <td style="font-weight:normal;width:auto"> <div> <div> <div> <div style="text-align:justify;line-height:1.25"> <div style="line-height:1.25"> <div style="line-height:1.25"> <div style="line-height:1.25"> <div style="line-height:1.25">Financing income, net consists of the following for the years ended December 31, 2025, 2024 and 2023:</div> </div> </div> </div> </div> </div> </div> </div> </td> </tr> <tr> <td style="width:56pt"> </td> <td style="font-weight:bold;width:22pt"> </td> <td style="font-weight:normal;width:auto"> </td> </tr> </table> </div> <div style="line-height:1.25;margin-left:99pt"> <table border="0" cellpadding="0" cellspacing="0" style="font-family:'Times New Roman',Times,serif;font-size:10pt;text-align:left;color:rgb(0, 0, 0);width:85%"> <tr> <td style="vertical-align:top;font-weight:normal;padding-bottom:2px;width:64%;vertical-align:bottom"> <div style="text-align:justify;line-height:1.25">Details</div> </td> <td colspan="1" style="vertical-align:bottom;padding-bottom:2px;width:1%;vertical-align:bottom"> </td> <td colspan="2" style="vertical-align:top;border-bottom:2px solid rgb(0, 0, 0);vertical-align:bottom"> <div style="text-align:center;line-height:1.25;font-family:'Times New Roman', Times, serif;font-weight:bold">2025</div> </td> <td colspan="1" style="vertical-align:bottom;padding-bottom:2px;width:1%;vertical-align:bottom;white-space:nowrap"> </td> <td colspan="1" style="vertical-align:bottom;padding-bottom:2px;width:1%;vertical-align:bottom"> </td> <td colspan="2" style="vertical-align:top;border-bottom:2px solid rgb(0, 0, 0);vertical-align:bottom"> <div style="text-align:center;line-height:1.25;font-family:'Times New Roman', Times, serif;font-weight:bold">2024</div> </td> <td colspan="1" style="vertical-align:bottom;padding-bottom:2px;width:1%;vertical-align:bottom;white-space:nowrap"> </td> <td colspan="1" style="vertical-align:bottom;padding-bottom:2px;width:1%;vertical-align:bottom"> </td> <td colspan="2" style="vertical-align:top;border-bottom:2px solid rgb(0, 0, 0);vertical-align:bottom"> <div style="text-align:center;line-height:1.25;font-family:'Times New Roman', Times, serif;font-weight:bold">2023</div> </td> <td colspan="1" style="vertical-align:bottom;padding-bottom:2px;width:1%;vertical-align:bottom;white-space:nowrap"> </td> </tr> <tr style="background-color:rgb(204, 238, 255)"> <td style="width:64%;vertical-align:bottom;background-color:rgb(204, 238, 255)"> <div style="line-height:1.25;font-family:'Times New Roman', Times, serif">Interest income</div> </td> <td colspan="1" style="width:1%;vertical-align:bottom;background-color:rgb(204, 238, 255)"> </td> <td colspan="1" style="width:1%;vertical-align:bottom;background-color:rgb(204, 238, 255)"> </td> <td colspan="1" style="text-align:right;width:9%;vertical-align:bottom;background-color:rgb(204, 238, 255)"> <div style="line-height:1.25;font-family:'Times New Roman', Times, serif">53,792</div> </td> <td colspan="1" style="width:1%;vertical-align:bottom;white-space:nowrap;background-color:rgb(204, 238, 255)"> </td> <td colspan="1" style="width:1%;vertical-align:bottom;background-color:rgb(204, 238, 255)"> </td> <td colspan="1" style="width:1%;vertical-align:bottom;background-color:rgb(204, 238, 255)"> </td> <td colspan="1" style="text-align:right;width:9%;vertical-align:bottom;background-color:rgb(204, 238, 255)"> <div style="line-height:1.25;font-family:'Times New Roman', Times, serif">55,488</div> </td> <td colspan="1" style="width:1%;vertical-align:bottom;white-space:nowrap;background-color:rgb(204, 238, 255)"> </td> <td colspan="1" style="width:1%;vertical-align:bottom;background-color:rgb(204, 238, 255)"> </td> <td colspan="1" style="width:1%;vertical-align:bottom;background-color:rgb(204, 238, 255)"> </td> <td colspan="1" style="text-align:right;width:9%;vertical-align:bottom;background-color:rgb(204, 238, 255)"> <div style="line-height:1.25;font-family:'Times New Roman', Times, serif">39,987</div> </td> <td colspan="1" style="width:1%;vertical-align:bottom;white-space:nowrap;background-color:rgb(204, 238, 255)"> </td> </tr> <tr style="background-color:rgb(255, 255, 255)"> <td style="width:64%;vertical-align:bottom;background-color:rgb(255, 255, 255)"> <div style="line-height:1.25;font-family:'Times New Roman', Times, serif">Interest expense</div> </td> <td colspan="1" style="width:1%;vertical-align:bottom;background-color:rgb(255, 255, 255)"> </td> <td colspan="1" style="width:1%;vertical-align:bottom;background-color:rgb(255, 255, 255)"> <div style="line-height:1.25"><span style="font-family:'Times New Roman', Times, serif">$</span></div> </td> <td colspan="1" style="text-align:right;width:9%;vertical-align:bottom;background-color:rgb(255, 255, 255)"> <div style="line-height:1.25"><span style="font-family:'Times New Roman', Times, serif">(3,658</span></div> </td> <td colspan="1" style="width:1%;vertical-align:bottom;white-space:nowrap;background-color:rgb(255, 255, 255)"> <div style="line-height:1.25"><span style="font-family:'Times New Roman', Times, serif">)</span></div> </td> <td colspan="1" style="width:1%;vertical-align:bottom;background-color:rgb(255, 255, 255)"> </td> <td colspan="1" style="width:1%;vertical-align:bottom;background-color:rgb(255, 255, 255)"> <div style="line-height:1.25;font-family:'Times New Roman', Times, serif">$</div> </td> <td colspan="1" style="text-align:right;width:9%;vertical-align:bottom;background-color:rgb(255, 255, 255)"> <div style="line-height:1.25;font-family:'Times New Roman', Times, serif">(4,029</div> </td> <td colspan="1" style="width:1%;vertical-align:bottom;white-space:nowrap;background-color:rgb(255, 255, 255)"> <div style="line-height:1.25;font-family:'Times New Roman', Times, serif">)</div> </td> <td colspan="1" style="width:1%;vertical-align:bottom;background-color:rgb(255, 255, 255)"> </td> <td colspan="1" style="width:1%;vertical-align:bottom;background-color:rgb(255, 255, 255)"> <div style="line-height:1.25"><span style="font-family:'Times New Roman', Times, serif">$</span></div> </td> <td colspan="1" style="text-align:right;width:9%;vertical-align:bottom;background-color:rgb(255, 255, 255)"> <div style="line-height:1.25"><span style="font-family:'Times New Roman', Times, serif">(4,444</span></div> </td> <td colspan="1" style="width:1%;vertical-align:bottom;white-space:nowrap;background-color:rgb(255, 255, 255)"> <div style="line-height:1.25"><span style="font-family:'Times New Roman', Times, serif">)</span></div> </td> </tr> <tr style="background-color:rgb(204, 238, 255)"> <td style="width:64%;vertical-align:bottom;background-color:rgb(204, 238, 255)"> <div style="line-height:1.25;font-family:'Times New Roman', Times, serif">Exchange rate results</div> </td> <td colspan="1" style="width:1%;vertical-align:bottom;background-color:rgb(204, 238, 255)"> </td> <td colspan="1" style="width:1%;vertical-align:bottom;background-color:rgb(204, 238, 255)"> </td> <td colspan="1" style="text-align:right;width:9%;vertical-align:bottom;background-color:rgb(204, 238, 255)"> <div style="line-height:1.25;font-family:'Times New Roman', Times, serif">2,628</div> </td> <td colspan="1" style="width:1%;vertical-align:bottom;white-space:nowrap;background-color:rgb(204, 238, 255)"> </td> <td colspan="1" style="width:1%;vertical-align:bottom;background-color:rgb(204, 238, 255)"> </td> <td colspan="1" style="width:1%;vertical-align:bottom;background-color:rgb(204, 238, 255)"> </td> <td colspan="1" style="text-align:right;width:9%;vertical-align:bottom;background-color:rgb(204, 238, 255)"> <div style="line-height:1.25;font-family:'Times New Roman', Times, serif">3,403</div> </td> <td colspan="1" style="width:1%;vertical-align:bottom;white-space:nowrap;background-color:rgb(204, 238, 255)"> </td> <td colspan="1" style="width:1%;vertical-align:bottom;background-color:rgb(204, 238, 255)"> </td> <td colspan="1" style="width:1%;vertical-align:bottom;background-color:rgb(204, 238, 255)"> </td> <td colspan="1" style="text-align:right;width:9%;vertical-align:bottom;background-color:rgb(204, 238, 255)"> <div style="line-height:1.25;font-family:'Times New Roman', Times, serif">1,013</div> </td> <td colspan="1" style="width:1%;vertical-align:bottom;white-space:nowrap;background-color:rgb(204, 238, 255)"> </td> </tr> <tr style="background-color:rgb(255, 255, 255)"> <td style="width:64%;vertical-align:bottom;background-color:rgb(255, 255, 255)"> <div style="line-height:1.25;font-family:'Times New Roman', Times, serif">Hedging transactions related gain (loss), net</div> </td> <td colspan="1" style="width:1%;vertical-align:bottom;background-color:rgb(255, 255, 255)"> </td> <td colspan="1" style="width:1%;vertical-align:bottom;background-color:rgb(255, 255, 255)"> </td> <td colspan="1" style="text-align:right;width:9%;vertical-align:bottom;background-color:rgb(255, 255, 255)"> <div style="line-height:1.25;font-family:'Times New Roman', Times, serif">4,734</div> </td> <td colspan="1" style="width:1%;vertical-align:bottom;white-space:nowrap;background-color:rgb(255, 255, 255)"> </td> <td colspan="1" style="width:1%;vertical-align:bottom;background-color:rgb(255, 255, 255)"> </td> <td colspan="1" style="width:1%;vertical-align:bottom;background-color:rgb(255, 255, 255)"> </td> <td colspan="1" style="text-align:right;width:9%;vertical-align:bottom;background-color:rgb(255, 255, 255)"> <div style="line-height:1.25;font-family:'Times New Roman', Times, serif">(7,800</div> </td> <td colspan="1" style="width:1%;vertical-align:bottom;white-space:nowrap;background-color:rgb(255, 255, 255)"> <div style="line-height:1.25;font-family:'Times New Roman', Times, serif">)</div> </td> <td colspan="1" style="width:1%;vertical-align:bottom;background-color:rgb(255, 255, 255)"> </td> <td colspan="1" style="width:1%;vertical-align:bottom;background-color:rgb(255, 255, 255)"> </td> <td colspan="1" style="text-align:right;width:9%;vertical-align:bottom;background-color:rgb(255, 255, 255)"> <div style="line-height:1.25;font-family:'Times New Roman', Times, serif">(5,153</div> </td> <td colspan="1" style="width:1%;vertical-align:bottom;white-space:nowrap;background-color:rgb(255, 255, 255)"> <div style="line-height:1.25;font-family:'Times New Roman', Times, serif">)</div> </td> </tr> <tr style="background-color:rgb(204, 238, 255)"> <td style="width:64%;vertical-align:bottom;background-color:rgb(204, 238, 255)"> <div style="line-height:1.25;font-family:'Times New Roman', Times, serif">Marketable securities fair value adjustments</div> </td> <td colspan="1" style="width:1%;vertical-align:bottom;background-color:rgb(204, 238, 255)"> </td> <td colspan="1" style="width:1%;vertical-align:bottom;background-color:rgb(204, 238, 255)"> </td> <td colspan="1" style="text-align:right;width:9%;vertical-align:bottom;background-color:rgb(204, 238, 255)"> <div style="line-height:1.25;font-family:'Times New Roman', Times, serif"> <p style="font-size:10pt;font-family:Times New Roman, Times, serif;margin-top:0pt;margin-bottom:0pt">--</p> </div> </td> <td colspan="1" style="width:1%;vertical-align:bottom;white-space:nowrap;background-color:rgb(204, 238, 255)"> </td> <td colspan="1" style="width:1%;vertical-align:bottom;background-color:rgb(204, 238, 255)"> </td> <td colspan="1" style="width:1%;vertical-align:bottom;background-color:rgb(204, 238, 255)"> </td> <td colspan="1" style="text-align:right;width:9%;vertical-align:bottom;background-color:rgb(204, 238, 255)"> <div style="line-height:1.25;font-family:'Times New Roman', Times, serif">5,605</div> </td> <td colspan="1" style="width:1%;vertical-align:bottom;white-space:nowrap;background-color:rgb(204, 238, 255)"> </td> <td colspan="1" style="width:1%;vertical-align:bottom;background-color:rgb(204, 238, 255)"> </td> <td colspan="1" style="width:1%;vertical-align:bottom;background-color:rgb(204, 238, 255)"> </td> <td colspan="1" style="text-align:right;width:9%;vertical-align:bottom;background-color:rgb(204, 238, 255)"> <div style="line-height:1.25;font-family:'Times New Roman', Times, serif">2,944</div> </td> <td colspan="1" style="width:1%;vertical-align:bottom;white-space:nowrap;background-color:rgb(204, 238, 255)"> </td> </tr> <tr style="background-color:rgb(255, 255, 255)"> <td style="width:64%;padding-bottom:2px;vertical-align:bottom;background-color:rgb(255, 255, 255)"> <div style="line-height:1.25;font-family:'Times New Roman', Times, serif">Bank fees and others</div> </td> <td colspan="1" style="width:1%;padding-bottom:2px;vertical-align:bottom;background-color:rgb(255, 255, 255)"> </td> <td colspan="1" style="width:1%;border-bottom:2px solid rgb(0, 0, 0);vertical-align:bottom;background-color:rgb(255, 255, 255)"> </td> <td colspan="1" style="text-align:right;width:9%;border-bottom:2px solid rgb(0, 0, 0);vertical-align:bottom;background-color:rgb(255, 255, 255)"> <div style="line-height:1.25;font-family:'Times New Roman', Times, serif">(758</div> </td> <td colspan="1" style="width:1%;padding-bottom:2px;vertical-align:bottom;white-space:nowrap;background-color:rgb(255, 255, 255)"> <div style="line-height:1.25;font-family:'Times New Roman', Times, serif">)</div> </td> <td colspan="1" style="width:1%;padding-bottom:2px;vertical-align:bottom;background-color:rgb(255, 255, 255)"> </td> <td colspan="1" style="width:1%;border-bottom:2px solid rgb(0, 0, 0);vertical-align:bottom;background-color:rgb(255, 255, 255)"> </td> <td colspan="1" style="text-align:right;width:9%;border-bottom:2px solid rgb(0, 0, 0);vertical-align:bottom;background-color:rgb(255, 255, 255)"> <div style="line-height:1.25;font-family:'Times New Roman', Times, serif">(1,833</div> </td> <td colspan="1" style="width:1%;padding-bottom:2px;vertical-align:bottom;white-space:nowrap;background-color:rgb(255, 255, 255)"> <div style="line-height:1.25;font-family:'Times New Roman', Times, serif">)</div> </td> <td colspan="1" style="width:1%;padding-bottom:2px;vertical-align:bottom;background-color:rgb(255, 255, 255)"> </td> <td colspan="1" style="width:1%;border-bottom:2px solid rgb(0, 0, 0);vertical-align:bottom;background-color:rgb(255, 255, 255)"> </td> <td colspan="1" style="text-align:right;width:9%;border-bottom:2px solid rgb(0, 0, 0);vertical-align:bottom;background-color:rgb(255, 255, 255)"> <div style="line-height:1.25;font-family:'Times New Roman', Times, serif">(3,816</div> </td> <td colspan="1" style="width:1%;padding-bottom:2px;vertical-align:bottom;white-space:nowrap;background-color:rgb(255, 255, 255)"> <div style="line-height:1.25;font-family:'Times New Roman', Times, serif">)</div> </td> </tr> <tr style="background-color:rgb(204, 238, 255)"> <td style="width:64%;padding-bottom:4px;vertical-align:bottom;background-color:rgb(204, 238, 255)"> </td> <td colspan="1" style="width:1%;padding-bottom:4px;vertical-align:bottom;background-color:rgb(204, 238, 255)"> </td> <td colspan="1" style="width:1%;border-bottom:4px double rgb(0, 0, 0);vertical-align:bottom;background-color:rgb(204, 238, 255)"> <div style="line-height:1.25"><span style="font-family:'Times New Roman', Times, serif">$</span></div> </td> <td colspan="1" style="text-align:right;width:9%;border-bottom:4px double rgb(0, 0, 0);vertical-align:bottom;background-color:rgb(204, 238, 255)"> <div style="line-height:1.25"><span style="font-family:'Times New Roman', Times, serif">56,738</span></div> </td> <td colspan="1" style="width:1%;padding-bottom:4px;vertical-align:bottom;white-space:nowrap;background-color:rgb(204, 238, 255)"> </td> <td colspan="1" style="width:1%;padding-bottom:4px;vertical-align:bottom;background-color:rgb(204, 238, 255)"> </td> <td colspan="1" style="width:1%;border-bottom:4px double rgb(0, 0, 0);vertical-align:bottom;background-color:rgb(204, 238, 255)"> <div style="line-height:1.25"><span style="font-family:'Times New Roman', Times, serif">$</span></div> </td> <td colspan="1" style="text-align:right;width:9%;border-bottom:4px double rgb(0, 0, 0);vertical-align:bottom;background-color:rgb(204, 238, 255)"> <div style="line-height:1.25"><span style="font-family:'Times New Roman', Times, serif">50,834</span></div> </td> <td colspan="1" style="width:1%;padding-bottom:4px;vertical-align:bottom;white-space:nowrap;background-color:rgb(204, 238, 255)"> </td> <td colspan="1" style="width:1%;padding-bottom:4px;vertical-align:bottom;background-color:rgb(204, 238, 255)"> </td> <td colspan="1" style="width:1%;border-bottom:4px double rgb(0, 0, 0);vertical-align:bottom;background-color:rgb(204, 238, 255)"> <div style="line-height:1.25;font-family:'Times New Roman', Times, serif">$</div> </td> <td colspan="1" style="text-align:right;width:9%;border-bottom:4px double rgb(0, 0, 0);vertical-align:bottom;background-color:rgb(204, 238, 255)"> <div style="line-height:1.25;font-family:'Times New Roman', Times, serif">30,531</div> </td> <td colspan="1" style="width:1%;padding-bottom:4px;vertical-align:bottom;white-space:nowrap;background-color:rgb(204, 238, 255)"> </td> </tr> </table> </div> </div> </div> </div> </div> </div> <div> <div style="line-height:1.25"> <div style="line-height:1.25"> <div style="line-height:1.25"> <div style="line-height:1.25"> <table border="0" cellpadding="0" cellspacing="0" style="font-family:'Times New Roman', Times, serif;font-size:10pt;color:#000000;width:100%"> <tr> <td style="width:56pt"> <div> </div> </td> <td style="font-weight:bold;width:22pt"> </td> <td style="font-weight:normal;width:auto"> <div> <div> <div> <div style="text-align:justify;line-height:1.25"> <div style="line-height:1.25"> <div style="line-height:1.25"> <div style="line-height:1.25"> <div style="line-height:1.25">Financing income, net consists of the following for the years ended December 31, 2025, 2024 and 2023:</div> </div> </div> </div> </div> </div> </div> </div> </td> </tr> <tr> <td style="width:56pt"> </td> <td style="font-weight:bold;width:22pt"> </td> <td style="font-weight:normal;width:auto"> </td> </tr> </table> </div> <div style="line-height:1.25;margin-left:99pt"> <table border="0" cellpadding="0" cellspacing="0" style="font-family:'Times New Roman',Times,serif;font-size:10pt;text-align:left;color:rgb(0, 0, 0);width:85%"> <tr> <td style="vertical-align:top;font-weight:normal;padding-bottom:2px;width:64%;vertical-align:bottom"> <div style="text-align:justify;line-height:1.25">Details</div> </td> <td colspan="1" style="vertical-align:bottom;padding-bottom:2px;width:1%;vertical-align:bottom"> </td> <td colspan="2" style="vertical-align:top;border-bottom:2px solid rgb(0, 0, 0);vertical-align:bottom"> <div style="text-align:center;line-height:1.25;font-family:'Times New Roman', Times, serif;font-weight:bold">2025</div> </td> <td colspan="1" style="vertical-align:bottom;padding-bottom:2px;width:1%;vertical-align:bottom;white-space:nowrap"> </td> <td colspan="1" style="vertical-align:bottom;padding-bottom:2px;width:1%;vertical-align:bottom"> </td> <td colspan="2" style="vertical-align:top;border-bottom:2px solid rgb(0, 0, 0);vertical-align:bottom"> <div style="text-align:center;line-height:1.25;font-family:'Times New Roman', Times, serif;font-weight:bold">2024</div> </td> <td colspan="1" style="vertical-align:bottom;padding-bottom:2px;width:1%;vertical-align:bottom;white-space:nowrap"> </td> <td colspan="1" style="vertical-align:bottom;padding-bottom:2px;width:1%;vertical-align:bottom"> </td> <td colspan="2" style="vertical-align:top;border-bottom:2px solid rgb(0, 0, 0);vertical-align:bottom"> <div style="text-align:center;line-height:1.25;font-family:'Times New Roman', Times, serif;font-weight:bold">2023</div> </td> <td colspan="1" style="vertical-align:bottom;padding-bottom:2px;width:1%;vertical-align:bottom;white-space:nowrap"> </td> </tr> <tr style="background-color:rgb(204, 238, 255)"> <td style="width:64%;vertical-align:bottom;background-color:rgb(204, 238, 255)"> <div style="line-height:1.25;font-family:'Times New Roman', Times, serif">Interest income</div> </td> <td colspan="1" style="width:1%;vertical-align:bottom;background-color:rgb(204, 238, 255)"> </td> <td colspan="1" style="width:1%;vertical-align:bottom;background-color:rgb(204, 238, 255)"> </td> <td colspan="1" style="text-align:right;width:9%;vertical-align:bottom;background-color:rgb(204, 238, 255)"> <div style="line-height:1.25;font-family:'Times New Roman', Times, serif">53,792</div> </td> <td colspan="1" style="width:1%;vertical-align:bottom;white-space:nowrap;background-color:rgb(204, 238, 255)"> </td> <td colspan="1" style="width:1%;vertical-align:bottom;background-color:rgb(204, 238, 255)"> </td> <td colspan="1" style="width:1%;vertical-align:bottom;background-color:rgb(204, 238, 255)"> </td> <td colspan="1" style="text-align:right;width:9%;vertical-align:bottom;background-color:rgb(204, 238, 255)"> <div style="line-height:1.25;font-family:'Times New Roman', Times, serif">55,488</div> </td> <td colspan="1" style="width:1%;vertical-align:bottom;white-space:nowrap;background-color:rgb(204, 238, 255)"> </td> <td colspan="1" style="width:1%;vertical-align:bottom;background-color:rgb(204, 238, 255)"> </td> <td colspan="1" style="width:1%;vertical-align:bottom;background-color:rgb(204, 238, 255)"> </td> <td colspan="1" style="text-align:right;width:9%;vertical-align:bottom;background-color:rgb(204, 238, 255)"> <div style="line-height:1.25;font-family:'Times New Roman', Times, serif">39,987</div> </td> <td colspan="1" style="width:1%;vertical-align:bottom;white-space:nowrap;background-color:rgb(204, 238, 255)"> </td> </tr> <tr style="background-color:rgb(255, 255, 255)"> <td style="width:64%;vertical-align:bottom;background-color:rgb(255, 255, 255)"> <div style="line-height:1.25;font-family:'Times New Roman', Times, serif">Interest expense</div> </td> <td colspan="1" style="width:1%;vertical-align:bottom;background-color:rgb(255, 255, 255)"> </td> <td colspan="1" style="width:1%;vertical-align:bottom;background-color:rgb(255, 255, 255)"> <div style="line-height:1.25"><span style="font-family:'Times New Roman', Times, serif">$</span></div> </td> <td colspan="1" style="text-align:right;width:9%;vertical-align:bottom;background-color:rgb(255, 255, 255)"> <div style="line-height:1.25"><span style="font-family:'Times New Roman', Times, serif">(3,658</span></div> </td> <td colspan="1" style="width:1%;vertical-align:bottom;white-space:nowrap;background-color:rgb(255, 255, 255)"> <div style="line-height:1.25"><span style="font-family:'Times New Roman', Times, serif">)</span></div> </td> <td colspan="1" style="width:1%;vertical-align:bottom;background-color:rgb(255, 255, 255)"> </td> <td colspan="1" style="width:1%;vertical-align:bottom;background-color:rgb(255, 255, 255)"> <div style="line-height:1.25;font-family:'Times New Roman', Times, serif">$</div> </td> <td colspan="1" style="text-align:right;width:9%;vertical-align:bottom;background-color:rgb(255, 255, 255)"> <div style="line-height:1.25;font-family:'Times New Roman', Times, serif">(4,029</div> </td> <td colspan="1" style="width:1%;vertical-align:bottom;white-space:nowrap;background-color:rgb(255, 255, 255)"> <div style="line-height:1.25;font-family:'Times New Roman', Times, serif">)</div> </td> <td colspan="1" style="width:1%;vertical-align:bottom;background-color:rgb(255, 255, 255)"> </td> <td colspan="1" style="width:1%;vertical-align:bottom;background-color:rgb(255, 255, 255)"> <div style="line-height:1.25"><span style="font-family:'Times New Roman', Times, serif">$</span></div> </td> <td colspan="1" style="text-align:right;width:9%;vertical-align:bottom;background-color:rgb(255, 255, 255)"> <div style="line-height:1.25"><span style="font-family:'Times New Roman', Times, serif">(4,444</span></div> </td> <td colspan="1" style="width:1%;vertical-align:bottom;white-space:nowrap;background-color:rgb(255, 255, 255)"> <div style="line-height:1.25"><span style="font-family:'Times New Roman', Times, serif">)</span></div> </td> </tr> <tr style="background-color:rgb(204, 238, 255)"> <td style="width:64%;vertical-align:bottom;background-color:rgb(204, 238, 255)"> <div style="line-height:1.25;font-family:'Times New Roman', Times, serif">Exchange rate results</div> </td> <td colspan="1" style="width:1%;vertical-align:bottom;background-color:rgb(204, 238, 255)"> </td> <td colspan="1" style="width:1%;vertical-align:bottom;background-color:rgb(204, 238, 255)"> </td> <td colspan="1" style="text-align:right;width:9%;vertical-align:bottom;background-color:rgb(204, 238, 255)"> <div style="line-height:1.25;font-family:'Times New Roman', Times, serif">2,628</div> </td> <td colspan="1" style="width:1%;vertical-align:bottom;white-space:nowrap;background-color:rgb(204, 238, 255)"> </td> <td colspan="1" style="width:1%;vertical-align:bottom;background-color:rgb(204, 238, 255)"> </td> <td colspan="1" style="width:1%;vertical-align:bottom;background-color:rgb(204, 238, 255)"> </td> <td colspan="1" style="text-align:right;width:9%;vertical-align:bottom;background-color:rgb(204, 238, 255)"> <div style="line-height:1.25;font-family:'Times New Roman', Times, serif">3,403</div> </td> <td colspan="1" style="width:1%;vertical-align:bottom;white-space:nowrap;background-color:rgb(204, 238, 255)"> </td> <td colspan="1" style="width:1%;vertical-align:bottom;background-color:rgb(204, 238, 255)"> </td> <td colspan="1" style="width:1%;vertical-align:bottom;background-color:rgb(204, 238, 255)"> </td> <td colspan="1" style="text-align:right;width:9%;vertical-align:bottom;background-color:rgb(204, 238, 255)"> <div style="line-height:1.25;font-family:'Times New Roman', Times, serif">1,013</div> </td> <td colspan="1" style="width:1%;vertical-align:bottom;white-space:nowrap;background-color:rgb(204, 238, 255)"> </td> </tr> <tr style="background-color:rgb(255, 255, 255)"> <td style="width:64%;vertical-align:bottom;background-color:rgb(255, 255, 255)"> <div style="line-height:1.25;font-family:'Times New Roman', Times, serif">Hedging transactions related gain (loss), net</div> </td> <td colspan="1" style="width:1%;vertical-align:bottom;background-color:rgb(255, 255, 255)"> </td> <td colspan="1" style="width:1%;vertical-align:bottom;background-color:rgb(255, 255, 255)"> </td> <td colspan="1" style="text-align:right;width:9%;vertical-align:bottom;background-color:rgb(255, 255, 255)"> <div style="line-height:1.25;font-family:'Times New Roman', Times, serif">4,734</div> </td> <td colspan="1" style="width:1%;vertical-align:bottom;white-space:nowrap;background-color:rgb(255, 255, 255)"> </td> <td colspan="1" style="width:1%;vertical-align:bottom;background-color:rgb(255, 255, 255)"> </td> <td colspan="1" style="width:1%;vertical-align:bottom;background-color:rgb(255, 255, 255)"> </td> <td colspan="1" style="text-align:right;width:9%;vertical-align:bottom;background-color:rgb(255, 255, 255)"> <div style="line-height:1.25;font-family:'Times New Roman', Times, serif">(7,800</div> </td> <td colspan="1" style="width:1%;vertical-align:bottom;white-space:nowrap;background-color:rgb(255, 255, 255)"> <div style="line-height:1.25;font-family:'Times New Roman', Times, serif">)</div> </td> <td colspan="1" style="width:1%;vertical-align:bottom;background-color:rgb(255, 255, 255)"> </td> <td colspan="1" style="width:1%;vertical-align:bottom;background-color:rgb(255, 255, 255)"> </td> <td colspan="1" style="text-align:right;width:9%;vertical-align:bottom;background-color:rgb(255, 255, 255)"> <div style="line-height:1.25;font-family:'Times New Roman', Times, serif">(5,153</div> </td> <td colspan="1" style="width:1%;vertical-align:bottom;white-space:nowrap;background-color:rgb(255, 255, 255)"> <div style="line-height:1.25;font-family:'Times New Roman', Times, serif">)</div> </td> </tr> <tr style="background-color:rgb(204, 238, 255)"> <td style="width:64%;vertical-align:bottom;background-color:rgb(204, 238, 255)"> <div style="line-height:1.25;font-family:'Times New Roman', Times, serif">Marketable securities fair value adjustments</div> </td> <td colspan="1" style="width:1%;vertical-align:bottom;background-color:rgb(204, 238, 255)"> </td> <td colspan="1" style="width:1%;vertical-align:bottom;background-color:rgb(204, 238, 255)"> </td> <td colspan="1" style="text-align:right;width:9%;vertical-align:bottom;background-color:rgb(204, 238, 255)"> <div style="line-height:1.25;font-family:'Times New Roman', Times, serif"> <p style="font-size:10pt;font-family:Times New Roman, Times, serif;margin-top:0pt;margin-bottom:0pt">--</p> </div> </td> <td colspan="1" style="width:1%;vertical-align:bottom;white-space:nowrap;background-color:rgb(204, 238, 255)"> </td> <td colspan="1" style="width:1%;vertical-align:bottom;background-color:rgb(204, 238, 255)"> </td> <td colspan="1" style="width:1%;vertical-align:bottom;background-color:rgb(204, 238, 255)"> </td> <td colspan="1" style="text-align:right;width:9%;vertical-align:bottom;background-color:rgb(204, 238, 255)"> <div style="line-height:1.25;font-family:'Times New Roman', Times, serif">5,605</div> </td> <td colspan="1" style="width:1%;vertical-align:bottom;white-space:nowrap;background-color:rgb(204, 238, 255)"> </td> <td colspan="1" style="width:1%;vertical-align:bottom;background-color:rgb(204, 238, 255)"> </td> <td colspan="1" style="width:1%;vertical-align:bottom;background-color:rgb(204, 238, 255)"> </td> <td colspan="1" style="text-align:right;width:9%;vertical-align:bottom;background-color:rgb(204, 238, 255)"> <div style="line-height:1.25;font-family:'Times New Roman', Times, serif">2,944</div> </td> <td colspan="1" style="width:1%;vertical-align:bottom;white-space:nowrap;background-color:rgb(204, 238, 255)"> </td> </tr> <tr style="background-color:rgb(255, 255, 255)"> <td style="width:64%;padding-bottom:2px;vertical-align:bottom;background-color:rgb(255, 255, 255)"> <div style="line-height:1.25;font-family:'Times New Roman', Times, serif">Bank fees and others</div> </td> <td colspan="1" style="width:1%;padding-bottom:2px;vertical-align:bottom;background-color:rgb(255, 255, 255)"> </td> <td colspan="1" style="width:1%;border-bottom:2px solid rgb(0, 0, 0);vertical-align:bottom;background-color:rgb(255, 255, 255)"> </td> <td colspan="1" style="text-align:right;width:9%;border-bottom:2px solid rgb(0, 0, 0);vertical-align:bottom;background-color:rgb(255, 255, 255)"> <div style="line-height:1.25;font-family:'Times New Roman', Times, serif">(758</div> </td> <td colspan="1" style="width:1%;padding-bottom:2px;vertical-align:bottom;white-space:nowrap;background-color:rgb(255, 255, 255)"> <div style="line-height:1.25;font-family:'Times New Roman', Times, serif">)</div> </td> <td colspan="1" style="width:1%;padding-bottom:2px;vertical-align:bottom;background-color:rgb(255, 255, 255)"> </td> <td colspan="1" style="width:1%;border-bottom:2px solid rgb(0, 0, 0);vertical-align:bottom;background-color:rgb(255, 255, 255)"> </td> <td colspan="1" style="text-align:right;width:9%;border-bottom:2px solid rgb(0, 0, 0);vertical-align:bottom;background-color:rgb(255, 255, 255)"> <div style="line-height:1.25;font-family:'Times New Roman', Times, serif">(1,833</div> </td> <td colspan="1" style="width:1%;padding-bottom:2px;vertical-align:bottom;white-space:nowrap;background-color:rgb(255, 255, 255)"> <div style="line-height:1.25;font-family:'Times New Roman', Times, serif">)</div> </td> <td colspan="1" style="width:1%;padding-bottom:2px;vertical-align:bottom;background-color:rgb(255, 255, 255)"> </td> <td colspan="1" style="width:1%;border-bottom:2px solid rgb(0, 0, 0);vertical-align:bottom;background-color:rgb(255, 255, 255)"> </td> <td colspan="1" style="text-align:right;width:9%;border-bottom:2px solid rgb(0, 0, 0);vertical-align:bottom;background-color:rgb(255, 255, 255)"> <div style="line-height:1.25;font-family:'Times New Roman', Times, serif">(3,816</div> </td> <td colspan="1" style="width:1%;padding-bottom:2px;vertical-align:bottom;white-space:nowrap;background-color:rgb(255, 255, 255)"> <div style="line-height:1.25;font-family:'Times New Roman', Times, serif">)</div> </td> </tr> <tr style="background-color:rgb(204, 238, 255)"> <td style="width:64%;padding-bottom:4px;vertical-align:bottom;background-color:rgb(204, 238, 255)"> </td> <td colspan="1" style="width:1%;padding-bottom:4px;vertical-align:bottom;background-color:rgb(204, 238, 255)"> </td> <td colspan="1" style="width:1%;border-bottom:4px double rgb(0, 0, 0);vertical-align:bottom;background-color:rgb(204, 238, 255)"> <div style="line-height:1.25"><span style="font-family:'Times New Roman', Times, serif">$</span></div> </td> <td colspan="1" style="text-align:right;width:9%;border-bottom:4px double rgb(0, 0, 0);vertical-align:bottom;background-color:rgb(204, 238, 255)"> <div style="line-height:1.25"><span style="font-family:'Times New Roman', Times, serif">56,738</span></div> </td> <td colspan="1" style="width:1%;padding-bottom:4px;vertical-align:bottom;white-space:nowrap;background-color:rgb(204, 238, 255)"> </td> <td colspan="1" style="width:1%;padding-bottom:4px;vertical-align:bottom;background-color:rgb(204, 238, 255)"> </td> <td colspan="1" style="width:1%;border-bottom:4px double rgb(0, 0, 0);vertical-align:bottom;background-color:rgb(204, 238, 255)"> <div style="line-height:1.25"><span style="font-family:'Times New Roman', Times, serif">$</span></div> </td> <td colspan="1" style="text-align:right;width:9%;border-bottom:4px double rgb(0, 0, 0);vertical-align:bottom;background-color:rgb(204, 238, 255)"> <div style="line-height:1.25"><span style="font-family:'Times New Roman', Times, serif">50,834</span></div> </td> <td colspan="1" style="width:1%;padding-bottom:4px;vertical-align:bottom;white-space:nowrap;background-color:rgb(204, 238, 255)"> </td> <td colspan="1" style="width:1%;padding-bottom:4px;vertical-align:bottom;background-color:rgb(204, 238, 255)"> </td> <td colspan="1" style="width:1%;border-bottom:4px double rgb(0, 0, 0);vertical-align:bottom;background-color:rgb(204, 238, 255)"> <div style="line-height:1.25;font-family:'Times New Roman', Times, serif">$</div> </td> <td colspan="1" style="text-align:right;width:9%;border-bottom:4px double rgb(0, 0, 0);vertical-align:bottom;background-color:rgb(204, 238, 255)"> <div style="line-height:1.25;font-family:'Times New Roman', Times, serif">30,531</div> </td> <td colspan="1" style="width:1%;padding-bottom:4px;vertical-align:bottom;white-space:nowrap;background-color:rgb(204, 238, 255)"> </td> </tr> </table> </div> </div> </div> </div> </div> 53792000 55488000 39987000 3658000 4029000 4444000 -2628000 -3403000 -1013000 -4734000 7800000 5153000 0 -5605000 -2944000 758000 1833000 3816000 56738000 50834000 30531000 <div> <div style="line-height:1.25"> <div style="line-height:1.25"> <div style="line-height:1.25"> <div style="text-align:justify;line-height:1.25"> <div style="line-height:1.25"> <div style="line-height:1.25"> <div style="line-height:1.25"> <div style="line-height:1.25"> <table border="0" cellpadding="0" cellspacing="0" style="font-family:'Times New Roman', Times, serif;font-size:10pt;color:#000000;width:100%"> <tr> <td style="width:56pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span><span style="font-weight:bold">NOTE 16:</span></span></span></span></span></td> <td style="width:auto"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span><span style="font-weight:bold">RELATED PARTIES BALANCES AND TRANSACTIONS</span></span></span></span></span></td> </tr> </table> <div style="line-height:1.25"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>          </span></span></span></span></div> </div> </div> </div> </div> </div> </div> </div> </div> <div style="line-height:1.25"> <div style="line-height:1.25"> <div style="line-height:1.25"> <div style="line-height:1.25"> <div style="line-height:1.25"> <div> <div style="line-height:1.25"> <table border="0" cellpadding="0" cellspacing="0" style="font-family:'Times New Roman', Times, serif;font-size:10pt;color:#000000;width:100%"> <tr> <td style="width:56pt"> <div> </div> </td> <td style="font-weight:bold;width:22pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>A.</span></span></span></span></td> <td style="font-weight:bold;width:auto"> <div> <div style="font-weight:bold"> <div style="font-weight:bold"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span><span style="font-weight:bold">Balance</span></span></span></span></span></div> </div> </div> </td> </tr> </table> <p style="margin:0pt"> </p> </div> </div> </div> </div> </div> </div> </div> <div> <div style="line-height:1.25"> <div style="line-height:1.25"> <div style="line-height:1.25"> <div style="line-height:1.25"> <div style="line-height:1.25"> <div> <div style="line-height:1.25"> <div style="line-height:1.25"> <div style="line-height:1.25"> <table border="0" cellpadding="0" cellspacing="0" style="font-family:'Times New Roman', Times, serif;font-size:10pt;color:#000000;width:100%"> <tr> <td style="width:56pt"> <div> </div> </td> <td style="font-weight:bold;width:22pt"> </td> <td style="font-weight:normal;width:auto"> <div> <div> <div> <div style="text-align:justify;line-height:1.25"> <div style="line-height:1.25"> <div style="line-height:1.25"> <div style="line-height:1.25"> <div style="line-height:1.25"> <div style="line-height:1.25"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>The nature of the relationship involved as of December 31, 2025 and 2024:</span></span></span></span></div> </div> </div> </div> </div> </div> </div> </div> </div> </td> </tr> </table> <p style="margin:0pt"> </p> </div> </div> </div> </div> </div> </div> </div> </div> </div> <div style="margin-left:99pt"> <table border="0" cellpadding="0" cellspacing="0" style="color:#000000;font-family:Times New Roman,Times,serif;font-size:10pt;text-align:left;width:75%;width:75%"> <tr> <td style="padding-bottom:2px;vertical-align:bottom"> <div style="line-height:1.25"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>Details</span></span></span></span></div> </td> <td style="padding-bottom:2px;vertical-align:bottom"> <p style="font-size:10pt;font-family:Times New Roman, Times, serif;margin-top:0pt;margin-bottom:0pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">Description</span></span></p> </td> <td colspan="1" style="padding-bottom:2px;vertical-align:bottom"> </td> <td colspan="2" style="border-bottom:2px solid rgb(0, 0, 0);vertical-align:bottom"> <div style="text-align:center;line-height:1.25"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>2025</span></span></span></span></div> </td> <td colspan="1" style="padding-bottom:2px;vertical-align:bottom;white-space:nowrap"> </td> <td colspan="1" style="padding-bottom:2px;vertical-align:bottom"> </td> <td colspan="2" style="border-bottom:2px solid rgb(0, 0, 0);vertical-align:bottom"> <div style="text-align:center;line-height:1.25"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>2024</span></span></span></span></div> </td> <td colspan="1" style="padding-bottom:2px;vertical-align:bottom;white-space:nowrap"> </td> </tr> <tr> <td style="background-color:rgb(204, 238, 255);padding-bottom:2px;vertical-align:bottom;width:29.5%"> <div style="text-align:justify;line-height:1.25"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>Long-term investment</span></span></span></span></div> </td> <td style="background-color:rgb(204, 238, 255);padding-bottom:2px;vertical-align:bottom;width:30.5%"> <div style="line-height:1.25"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>Equity investment in a limited partnership</span></span></span></span></div> </td> <td colspan="1" style="text-align:right;padding-bottom:2px;background-color:rgb(204, 238, 255);vertical-align:bottom;width:1%"> </td> <td colspan="1" style="background-color:rgb(204, 238, 255);border-bottom:2px solid rgb(0, 0, 0);vertical-align:bottom;width:1%"> <div style="line-height:1.25"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>$</span></span></span></span></div> </td> <td colspan="1" style="background-color:rgb(204, 238, 255);text-align:right;border-bottom:2px solid rgb(0, 0, 0);vertical-align:bottom;width:9%"> <div style="line-height:1.25"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">41</span></span></div> </td> <td colspan="1" style="background-color:rgb(204, 238, 255);padding-bottom:2px;vertical-align:bottom;white-space:nowrap;width:1%"> </td> <td colspan="1" style="text-align:right;padding-bottom:2px;background-color:rgb(204, 238, 255);vertical-align:bottom;width:1%"> </td> <td colspan="1" style="background-color:rgb(204, 238, 255);border-bottom:2px solid rgb(0, 0, 0);vertical-align:bottom;width:1%"> <div style="line-height:1.25"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>$</span></span></span></span></div> </td> <td colspan="1" style="background-color:rgb(204, 238, 255);text-align:right;border-bottom:2px solid rgb(0, 0, 0);vertical-align:bottom;width:9%"> <div style="line-height:1.25"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">40</span></span></div> </td> <td colspan="1" style="padding-bottom:2px;vertical-align:bottom;white-space:nowrap;width:1%"> </td> </tr> </table> </div> </div> <div style="line-height:1.25;clear:both"> <div style="line-height:1.25"> </div> <div style="line-height:1.25"> <div style="line-height:1.25"> <div style="line-height:1.25"> <div style="line-height:1.25"> <div style="line-height:1.25"> <div> <div style="line-height:1.25"> <table border="0" cellpadding="0" cellspacing="0" style="font-family:'Times New Roman', Times, serif;font-size:10pt;color:#000000;width:100%"> <tr> <td style="width:56pt"> <div> </div> </td> <td style="font-weight:bold;width:22pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>B.</span></span></span></span></td> <td style="font-weight:bold;width:auto"> <div> <div style="font-weight:bold"> <div style="font-weight:bold"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span><span style="font-weight:bold">Transactions</span></span></span></span></span></div> </div> </div> </td> </tr> </table> <p style="margin:0pt"> </p> </div> </div> </div> </div> </div> </div> </div> </div> <div> <div style="line-height:1.25;clear:both"> <div style="line-height:1.25"> <div style="line-height:1.25"> <div style="line-height:1.25"> <div style="line-height:1.25"> <div style="line-height:1.25"> <div> <div style="line-height:1.25"> <div style="line-height:1.25"> <div style="line-height:1.25"> <table border="0" cellpadding="0" cellspacing="0" style="font-family:'Times New Roman', Times, serif;font-size:10pt;color:#000000;width:100%"> <tr> <td style="width:56pt"> <div> </div> </td> <td style="font-weight:bold;width:22pt"> </td> <td style="font-weight:normal;width:auto"> <div> <div> <div> <div style="text-align:justify;line-height:1.25"> <div style="line-height:1.25"> <div style="line-height:1.25"> <div style="line-height:1.25"> <div style="line-height:1.25"> <div style="line-height:1.25"> <div style="line-height:1.25"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>Description of the transactions for the years ended December 31, 2025, 2024 and 2023:</span></span></span></span></div> </div> </div> </div> </div> </div> </div> </div> </div> </div> </td> </tr> </table> <p style="margin:0pt"> </p> </div> </div> </div> </div> </div> </div> </div> </div> </div> </div> <div style="margin-left:99pt"> <table border="0" cellpadding="0" cellspacing="0" style="width:85%;color:rgb(0, 0, 0);font-family:Times New Roman, Times, serif;font-size:10pt;text-align:left"> <tr> <td style="vertical-align:middle;width:30.89%;padding-bottom:2px;vertical-align:bottom"> <div style="text-align:justify;line-height:1.25"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>Details</span></span></span></span></div> </td> <td style="vertical-align:middle;width:31.91%;padding-bottom:2px;vertical-align:bottom"> <div style="line-height:1.25"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>Description</span></span></span></span></div> </td> <td colspan="1" style="vertical-align:bottom;padding-bottom:2px;width:1.02%;vertical-align:bottom"> </td> <td colspan="2" style="vertical-align:middle;border-bottom:2px solid rgb(0, 0, 0);vertical-align:bottom"> <div style="text-align:center;line-height:1.25"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>2025</span></span></span></span></div> </td> <td colspan="1" style="vertical-align:bottom;padding-bottom:2px;width:1.02%;vertical-align:bottom;white-space:nowrap"> </td> <td colspan="1" style="vertical-align:bottom;padding-bottom:2px;width:1.02%;vertical-align:bottom"> </td> <td colspan="2" style="vertical-align:middle;border-bottom:2px solid rgb(0, 0, 0);vertical-align:bottom"> <div style="text-align:center;line-height:1.25"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>2024</span></span></span></span></div> </td> <td colspan="1" style="vertical-align:bottom;padding-bottom:2px;width:1.02%;vertical-align:bottom;white-space:nowrap"> </td> <td colspan="1" style="vertical-align:bottom;padding-bottom:2px;width:1.02%;vertical-align:bottom"> </td> <td colspan="2" style="vertical-align:middle;border-bottom:2px solid rgb(0, 0, 0);vertical-align:bottom"> <div style="text-align:center;line-height:1.25"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>2023</span></span></span></span></div> </td> <td colspan="1" style="vertical-align:bottom;padding-bottom:2px;width:1.02%;vertical-align:bottom;white-space:nowrap"> </td> </tr> <tr> <td style="vertical-align:middle;width:30.89%;padding-bottom:2px;background-color:rgb(204, 238, 255);vertical-align:bottom"> <div style="line-height:1.25"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>General and administrative expense</span></span></span></span></div> </td> <td style="vertical-align:middle;width:31.91%;padding-bottom:2px;background-color:rgb(204, 238, 255);vertical-align:bottom"> <div style="line-height:1.25"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>Directors’ fees and reimbursement to directors</span></span></span></span></div> </td> <td colspan="1" style="vertical-align:bottom;width:1.02%;padding-bottom:2px;background-color:rgb(204, 238, 255);vertical-align:bottom"> </td> <td colspan="1" style="vertical-align:bottom;width:1.54%;border-bottom:2px solid rgb(0, 0, 0);background-color:rgb(204, 238, 255);vertical-align:bottom"> <div style="line-height:1.25"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>$</span></span></span></span></div> </td> <td colspan="1" style="vertical-align:bottom;text-align:right;width:9.04%;border-bottom:2px solid rgb(0, 0, 0);background-color:rgb(204, 238, 255);vertical-align:bottom"> <div style="line-height:1.25"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">1,118</span></span></div> </td> <td colspan="1" style="vertical-align:bottom;width:1.02%;padding-bottom:2px;background-color:rgb(204, 238, 255);vertical-align:bottom;white-space:nowrap"> </td> <td colspan="1" style="vertical-align:bottom;width:1.02%;padding-bottom:2px;background-color:rgb(204, 238, 255);vertical-align:bottom"> </td> <td colspan="1" style="vertical-align:bottom;width:1.54%;border-bottom:2px solid rgb(0, 0, 0);background-color:rgb(204, 238, 255);vertical-align:bottom"> <div style="line-height:1.25"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>$</span></span></span></span></div> </td> <td colspan="1" style="vertical-align:bottom;text-align:right;width:8.87%;border-bottom:2px solid rgb(0, 0, 0);background-color:rgb(204, 238, 255);vertical-align:bottom"> <div style="line-height:1.25"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">804</span></span></div> </td> <td colspan="1" style="vertical-align:bottom;width:1.02%;padding-bottom:2px;background-color:rgb(204, 238, 255);vertical-align:bottom;white-space:nowrap"> </td> <td colspan="1" style="vertical-align:bottom;width:1.02%;padding-bottom:2px;background-color:rgb(204, 238, 255);vertical-align:bottom"> </td> <td colspan="1" style="vertical-align:bottom;width:1.54%;border-bottom:2px solid rgb(0, 0, 0);background-color:rgb(204, 238, 255);vertical-align:bottom"> <div style="line-height:1.25"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>$</span></span></span></span></div> </td> <td colspan="1" style="vertical-align:bottom;text-align:right;width:8.87%;border-bottom:2px solid rgb(0, 0, 0);background-color:rgb(204, 238, 255);vertical-align:bottom"> <div style="line-height:1.25"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">780</span></span></div> </td> <td colspan="1" style="vertical-align:bottom;width:1.02%;padding-bottom:2px;background-color:rgb(204, 238, 255);vertical-align:bottom;white-space:nowrap"> </td> </tr> </table> </div> </div> </div> <div> <div style="line-height:1.25"> <div style="line-height:1.25"> <div style="line-height:1.25"> <div style="line-height:1.25"> <div style="line-height:1.25"> <div> <div style="line-height:1.25"> <div style="line-height:1.25"> <div style="line-height:1.25"> <table border="0" cellpadding="0" cellspacing="0" style="font-family:'Times New Roman', Times, serif;font-size:10pt;color:#000000;width:100%"> <tr> <td style="width:56pt"> <div> </div> </td> <td style="font-weight:bold;width:22pt"> </td> <td style="font-weight:normal;width:auto"> <div> <div> <div> <div style="text-align:justify;line-height:1.25"> <div style="line-height:1.25"> <div style="line-height:1.25"> <div style="line-height:1.25"> <div style="line-height:1.25"> <div style="line-height:1.25"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>The nature of the relationship involved as of December 31, 2025 and 2024:</span></span></span></span></div> </div> </div> </div> </div> </div> </div> </div> </div> </td> </tr> </table> <p style="margin:0pt"> </p> </div> </div> </div> </div> </div> </div> </div> </div> </div> <div style="margin-left:99pt"> <table border="0" cellpadding="0" cellspacing="0" style="color:#000000;font-family:Times New Roman,Times,serif;font-size:10pt;text-align:left;width:75%;width:75%"> <tr> <td style="padding-bottom:2px;vertical-align:bottom"> <div style="line-height:1.25"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>Details</span></span></span></span></div> </td> <td style="padding-bottom:2px;vertical-align:bottom"> <p style="font-size:10pt;font-family:Times New Roman, Times, serif;margin-top:0pt;margin-bottom:0pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">Description</span></span></p> </td> <td colspan="1" style="padding-bottom:2px;vertical-align:bottom"> </td> <td colspan="2" style="border-bottom:2px solid rgb(0, 0, 0);vertical-align:bottom"> <div style="text-align:center;line-height:1.25"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>2025</span></span></span></span></div> </td> <td colspan="1" style="padding-bottom:2px;vertical-align:bottom;white-space:nowrap"> </td> <td colspan="1" style="padding-bottom:2px;vertical-align:bottom"> </td> <td colspan="2" style="border-bottom:2px solid rgb(0, 0, 0);vertical-align:bottom"> <div style="text-align:center;line-height:1.25"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>2024</span></span></span></span></div> </td> <td colspan="1" style="padding-bottom:2px;vertical-align:bottom;white-space:nowrap"> </td> </tr> <tr> <td style="background-color:rgb(204, 238, 255);padding-bottom:2px;vertical-align:bottom;width:29.5%"> <div style="text-align:justify;line-height:1.25"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>Long-term investment</span></span></span></span></div> </td> <td style="background-color:rgb(204, 238, 255);padding-bottom:2px;vertical-align:bottom;width:30.5%"> <div style="line-height:1.25"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>Equity investment in a limited partnership</span></span></span></span></div> </td> <td colspan="1" style="text-align:right;padding-bottom:2px;background-color:rgb(204, 238, 255);vertical-align:bottom;width:1%"> </td> <td colspan="1" style="background-color:rgb(204, 238, 255);border-bottom:2px solid rgb(0, 0, 0);vertical-align:bottom;width:1%"> <div style="line-height:1.25"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>$</span></span></span></span></div> </td> <td colspan="1" style="background-color:rgb(204, 238, 255);text-align:right;border-bottom:2px solid rgb(0, 0, 0);vertical-align:bottom;width:9%"> <div style="line-height:1.25"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">41</span></span></div> </td> <td colspan="1" style="background-color:rgb(204, 238, 255);padding-bottom:2px;vertical-align:bottom;white-space:nowrap;width:1%"> </td> <td colspan="1" style="text-align:right;padding-bottom:2px;background-color:rgb(204, 238, 255);vertical-align:bottom;width:1%"> </td> <td colspan="1" style="background-color:rgb(204, 238, 255);border-bottom:2px solid rgb(0, 0, 0);vertical-align:bottom;width:1%"> <div style="line-height:1.25"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>$</span></span></span></span></div> </td> <td colspan="1" style="background-color:rgb(204, 238, 255);text-align:right;border-bottom:2px solid rgb(0, 0, 0);vertical-align:bottom;width:9%"> <div style="line-height:1.25"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">40</span></span></div> </td> <td colspan="1" style="padding-bottom:2px;vertical-align:bottom;white-space:nowrap;width:1%"> </td> </tr> </table> </div> </div> <div> <div style="line-height:1.25;clear:both"> <div style="line-height:1.25"> <div style="line-height:1.25"> <div style="line-height:1.25"> <div style="line-height:1.25"> <div style="line-height:1.25"> <div> <div style="line-height:1.25"> <div style="line-height:1.25"> <div style="line-height:1.25"> <table border="0" cellpadding="0" cellspacing="0" style="font-family:'Times New Roman', Times, serif;font-size:10pt;color:#000000;width:100%"> <tr> <td style="width:56pt"> <div> </div> </td> <td style="font-weight:bold;width:22pt"> </td> <td style="font-weight:normal;width:auto"> <div> <div> <div> <div style="text-align:justify;line-height:1.25"> <div style="line-height:1.25"> <div style="line-height:1.25"> <div style="line-height:1.25"> <div style="line-height:1.25"> <div style="line-height:1.25"> <div style="line-height:1.25"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>Description of the transactions for the years ended December 31, 2025, 2024 and 2023:</span></span></span></span></div> </div> </div> </div> </div> </div> </div> </div> </div> </div> </td> </tr> </table> <p style="margin:0pt"> </p> </div> </div> </div> </div> </div> </div> </div> </div> </div> </div> <div style="margin-left:99pt"> <table border="0" cellpadding="0" cellspacing="0" style="width:85%;color:rgb(0, 0, 0);font-family:Times New Roman, Times, serif;font-size:10pt;text-align:left"> <tr> <td style="vertical-align:middle;width:30.89%;padding-bottom:2px;vertical-align:bottom"> <div style="text-align:justify;line-height:1.25"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>Details</span></span></span></span></div> </td> <td style="vertical-align:middle;width:31.91%;padding-bottom:2px;vertical-align:bottom"> <div style="line-height:1.25"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>Description</span></span></span></span></div> </td> <td colspan="1" style="vertical-align:bottom;padding-bottom:2px;width:1.02%;vertical-align:bottom"> </td> <td colspan="2" style="vertical-align:middle;border-bottom:2px solid rgb(0, 0, 0);vertical-align:bottom"> <div style="text-align:center;line-height:1.25"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>2025</span></span></span></span></div> </td> <td colspan="1" style="vertical-align:bottom;padding-bottom:2px;width:1.02%;vertical-align:bottom;white-space:nowrap"> </td> <td colspan="1" style="vertical-align:bottom;padding-bottom:2px;width:1.02%;vertical-align:bottom"> </td> <td colspan="2" style="vertical-align:middle;border-bottom:2px solid rgb(0, 0, 0);vertical-align:bottom"> <div style="text-align:center;line-height:1.25"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>2024</span></span></span></span></div> </td> <td colspan="1" style="vertical-align:bottom;padding-bottom:2px;width:1.02%;vertical-align:bottom;white-space:nowrap"> </td> <td colspan="1" style="vertical-align:bottom;padding-bottom:2px;width:1.02%;vertical-align:bottom"> </td> <td colspan="2" style="vertical-align:middle;border-bottom:2px solid rgb(0, 0, 0);vertical-align:bottom"> <div style="text-align:center;line-height:1.25"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>2023</span></span></span></span></div> </td> <td colspan="1" style="vertical-align:bottom;padding-bottom:2px;width:1.02%;vertical-align:bottom;white-space:nowrap"> </td> </tr> <tr> <td style="vertical-align:middle;width:30.89%;padding-bottom:2px;background-color:rgb(204, 238, 255);vertical-align:bottom"> <div style="line-height:1.25"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>General and administrative expense</span></span></span></span></div> </td> <td style="vertical-align:middle;width:31.91%;padding-bottom:2px;background-color:rgb(204, 238, 255);vertical-align:bottom"> <div style="line-height:1.25"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>Directors’ fees and reimbursement to directors</span></span></span></span></div> </td> <td colspan="1" style="vertical-align:bottom;width:1.02%;padding-bottom:2px;background-color:rgb(204, 238, 255);vertical-align:bottom"> </td> <td colspan="1" style="vertical-align:bottom;width:1.54%;border-bottom:2px solid rgb(0, 0, 0);background-color:rgb(204, 238, 255);vertical-align:bottom"> <div style="line-height:1.25"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>$</span></span></span></span></div> </td> <td colspan="1" style="vertical-align:bottom;text-align:right;width:9.04%;border-bottom:2px solid rgb(0, 0, 0);background-color:rgb(204, 238, 255);vertical-align:bottom"> <div style="line-height:1.25"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">1,118</span></span></div> </td> <td colspan="1" style="vertical-align:bottom;width:1.02%;padding-bottom:2px;background-color:rgb(204, 238, 255);vertical-align:bottom;white-space:nowrap"> </td> <td colspan="1" style="vertical-align:bottom;width:1.02%;padding-bottom:2px;background-color:rgb(204, 238, 255);vertical-align:bottom"> </td> <td colspan="1" style="vertical-align:bottom;width:1.54%;border-bottom:2px solid rgb(0, 0, 0);background-color:rgb(204, 238, 255);vertical-align:bottom"> <div style="line-height:1.25"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>$</span></span></span></span></div> </td> <td colspan="1" style="vertical-align:bottom;text-align:right;width:8.87%;border-bottom:2px solid rgb(0, 0, 0);background-color:rgb(204, 238, 255);vertical-align:bottom"> <div style="line-height:1.25"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">804</span></span></div> </td> <td colspan="1" style="vertical-align:bottom;width:1.02%;padding-bottom:2px;background-color:rgb(204, 238, 255);vertical-align:bottom;white-space:nowrap"> </td> <td colspan="1" style="vertical-align:bottom;width:1.02%;padding-bottom:2px;background-color:rgb(204, 238, 255);vertical-align:bottom"> </td> <td colspan="1" style="vertical-align:bottom;width:1.54%;border-bottom:2px solid rgb(0, 0, 0);background-color:rgb(204, 238, 255);vertical-align:bottom"> <div style="line-height:1.25"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span><span>$</span></span></span></span></div> </td> <td colspan="1" style="vertical-align:bottom;text-align:right;width:8.87%;border-bottom:2px solid rgb(0, 0, 0);background-color:rgb(204, 238, 255);vertical-align:bottom"> <div style="line-height:1.25"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">780</span></span></div> </td> <td colspan="1" style="vertical-align:bottom;width:1.02%;padding-bottom:2px;background-color:rgb(204, 238, 255);vertical-align:bottom;white-space:nowrap"> </td> </tr> </table> </div> </div> 41000 40000 1118000 804000 780000 <div> <div style="line-height:1.25"> <div style="line-height:1.25"> <div style="line-height:1.25"> <div style="line-height:1.25"> <div style="text-align:justify;line-height:1.25"> <div style="line-height:1.25"> <div style="line-height:1.25"> <div style="line-height:1.25"> <div style="line-height:1.25"> <table border="0" cellpadding="0" cellspacing="0" style="font-family:'Times New Roman', Times, serif;font-size:10pt;color:#000000;width:100%"> <tr> <td style="width:56pt"> <p style="font-size:10pt;font-family:Times New Roman, Times, serif;margin-top:0pt;margin-bottom:0pt"><span style="font-size:10pt;font-family:Times New Roman, Times, serif;font-weight:bold">NOTE 17:</span></p> </td> <td style="width:auto"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span style="font-weight:bold">INCOME TAX</span></span></span></td> </tr> </table> <div style="line-height:1.25"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">          </span></span></div> </div> </div> </div> </div> </div> </div> </div> </div> <div style="line-height:1.25"> <div style="line-height:1.25"> <div style="line-height:1.25"> <div style="line-height:1.25"> <div style="line-height:1.25"> <div> <div style="text-align:justify;line-height:1.25"> <table border="0" cellpadding="0" cellspacing="0" style="font-family:'Times New Roman', Times, serif;font-size:10pt;color:#000000;width:100%"> <tr> <td style="width:56pt"> <div> </div> </td> <td style="font-weight:bold;width:22pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">A.</span></span></td> <td style="font-weight:bold;width:auto"> <div> <div style="font-weight:bold"> <div style="font-weight:bold"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span style="font-weight:bold">Tower Statutory Income Rates and Pillar 2 Model</span></span></span></div> </div> </div> </td> </tr> </table> <div style="line-height:1.25"> <div style="line-height:1.25"> <table border="0" cellpadding="0" cellspacing="0" style="font-family:'Times New Roman', Times, serif;font-size:10pt;color:#000000;width:100%"> <tr> <td style="width:56pt"> <div> </div> </td> <td style="font-weight:bold;width:22pt"> </td> <td style="font-weight:normal;width:auto"> <div> <div> <div> <div style="text-align:justify;line-height:1.25"> <div style="line-height:1.25"> <div style="line-height:1.25"> <div style="line-height:1.25"> <div style="line-height:1.25"> <div style="line-height:1.25"> <div style="line-height:1.25"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">Pursuant to Amendment 73 to the Israeli Investment Law adopted in 2017 and since Tower is an Israeli industrial company located in Migdal Ha’emek, Israel, it meets the conditions for “Preferred Enterprises” and as such is entitled to an income tax rate of 7.5%.  Any portion of Tower’s taxable income that is not eligible for Preferred Enterprise benefits, if at all, is to be taxed at the Israeli statutory corporate income tax rate of 23%.</span></span></div> </div> </div> </div> </div> </div> </div> </div> </div> </div> </td> </tr> </table> <p style="margin-top:0pt;margin-bottom:0pt"> </p> </div> </div> </div> </div> </div> </div> </div> </div> </div> </div> <div style="line-height:1.25"> <div></div> <div style="line-height:1.25"> <div style="line-height:1.25"> <div style="line-height:1.25"> <div style="line-height:1.25"> <div style="line-height:1.25"> <div style="line-height:1.25"> <div> <div style="text-align:justify;line-height:1.25"> <div style="line-height:1.25"> <div style="line-height:1.25"> <div style="line-height:1.25"> <div style="line-height:1.25"> <div style="line-height:1.25"> <div> <div style="line-height:1.25"> <table border="0" cellpadding="0" cellspacing="0" style="font-family:'Times New Roman', Times, serif;font-size:10pt;color:#000000;width:100%"> <tr> <td style="width:56pt"> <div> </div> </td> <td style="font-weight:bold;width:22pt"> </td> <td style="font-weight:normal;width:auto"> <div style="text-align:justify"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">In December 2021, the OECD issued the Pillar Two model rules, which introduce a 15% global minimum tax applicable on a jurisdiction-by-jurisdiction basis to multinational corporations with consolidated annual revenue exceeding €750 million. As of December 31, 2025, the rules had been partially enacted in certain jurisdictions in which the Company operates. The Pillar Two model rules include transitional safe harbor provisions which if met allow such corporations to defer the application of the rules for periods that will commence after December 31, 2025. <span>Until</span> December 31, 2025<span> (inclusive),</span> the Company qualified for the transitional safe harbor provisions in all jurisdictions in which it operates. As such, the Pillar Two model rules did not have an impact on the Company’s consolidated financial statements <span>through</span> December 31, 2025, however<span>, the Company believes</span> it <span>would</span> result in <span>significant</span> additional income taxes for the years 2026 and beyond, mainly with respect to its Israeli operations.</span></span></div> </td> </tr> </table> </div> </div> </div> </div> </div> </div> </div> </div> </div> </div> </div> </div> </div> </div> </div> </div> <div style="line-height:1.25"> <div style="line-height:1.25"> </div> <div style="line-height:1.25"> <div style="line-height:1.25"> <div style="line-height:1.25"> <div style="line-height:1.25"> <div style="line-height:1.25"> <div> <div style="text-align:justify;line-height:1.25"> <table border="0" cellpadding="0" cellspacing="0" style="font-family:'Times New Roman', Times, serif;font-size:10pt;color:#000000;width:100%"> <tr> <td style="width:56pt"> <div> </div> </td> <td style="font-weight:bold;width:22pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">B.</span></span></td> <td style="font-weight:bold;width:auto"> <div> <div style="font-weight:bold"> <div style="font-weight:bold"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span style="font-weight:bold">Income Tax Expense, Net</span></span></span></div> </div> </div> </td> </tr> </table><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">        </span></span> <div style="line-height:1.25"> <div style="line-height:1.25"> <div style="line-height:1.25"> <div style="line-height:1.25"> <div style="line-height:1.25"> <div> <div style="line-height:1.25"> <table border="0" cellpadding="0" cellspacing="0" style="font-family:'Times New Roman', Times, serif;font-size:10pt;color:#000000;width:100%"> <tr> <td style="width:56pt"> <div> </div> </td> <td style="font-weight:bold;width:22pt"> </td> <td style="font-weight:normal;width:auto"> <div> <div> <div> <div style="text-align:justify;line-height:1.25"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">The Company's provision for income tax is affected by income tax in a multinational tax environment. The income tax provision is an estimate determined based on current enacted tax laws and tax rates at each of its geographic locations, with the use of acceptable allocation methodologies based upon the Company’s organizational structure, operations and business mode of work, resulting in applicable taxable income attributable to each of the locations the Company operates in.</span></span></div> <div style="line-height:1.25"> </div> <div style="text-align:justify;line-height:1.25"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">The Company’s income tax provision consists of the following for the years ended December 31, 2025, 2024 and 2023:</span></span></div> </div> </div> </div> </td> </tr> </table> <p style="margin-top:0pt;margin-bottom:0pt"> </p> </div> </div> </div> </div> </div> </div> </div> </div> </div> </div> </div> </div> </div> </div> </div> <div> <div style="margin-left:99pt"> <table border="0" cellpadding="0" cellspacing="0" style="width:85%;color:#000000;font-family:'Times New Roman', Times, serif;font-size:10pt;text-align:left"> <tr> <td style="vertical-align:middle;padding-bottom:2px;vertical-align:bottom"> <div style="text-align:justify;line-height:1.25"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">Details</span></span></div> </td> <td colspan="1" style="vertical-align:bottom;padding-bottom:2px;vertical-align:bottom"> </td> <td colspan="2" style="vertical-align:middle;border-bottom:#000000 solid 2px;vertical-align:bottom"> <div style="text-align:center;line-height:1.25"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">2025</span></span></div> </td> <td colspan="1" style="vertical-align:bottom;padding-bottom:2px;vertical-align:bottom;white-space:nowrap"> </td> <td colspan="1" style="vertical-align:bottom;padding-bottom:2px;vertical-align:bottom"> </td> <td colspan="2" style="vertical-align:middle;border-bottom:#000000 solid 2px;vertical-align:bottom"> <div style="text-align:center;line-height:1.25"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">2024</span></span></div> </td> <td colspan="1" style="vertical-align:bottom;padding-bottom:2px;vertical-align:bottom;white-space:nowrap"> </td> <td colspan="1" style="vertical-align:bottom;padding-bottom:2px;vertical-align:bottom"> </td> <td colspan="2" style="vertical-align:middle;border-bottom:#000000 solid 2px;vertical-align:bottom"> <div style="text-align:center;line-height:1.25"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">2023</span></span></div> </td> <td colspan="1" style="vertical-align:bottom;padding-bottom:2px;vertical-align:bottom;white-space:nowrap"> </td> </tr> <tr> <td style="vertical-align:middle;background-color:rgb(204, 238, 255);vertical-align:bottom"> <div style="text-align:justify;line-height:1.25"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">Current tax expense:</span></span></div> </td> <td colspan="1" style="vertical-align:bottom;background-color:rgb(204, 238, 255);vertical-align:bottom"> </td> <td colspan="2" style="vertical-align:middle;background-color:rgb(204, 238, 255);vertical-align:bottom"> </td> <td colspan="1" style="vertical-align:bottom;background-color:rgb(204, 238, 255);vertical-align:bottom;white-space:nowrap"> </td> <td colspan="1" style="vertical-align:bottom;background-color:rgb(204, 238, 255);vertical-align:bottom"> </td> <td colspan="2" style="vertical-align:middle;background-color:rgb(204, 238, 255);vertical-align:bottom"> </td> <td colspan="1" style="vertical-align:bottom;background-color:rgb(204, 238, 255);vertical-align:bottom;white-space:nowrap"> </td> <td colspan="1" style="vertical-align:bottom;background-color:rgb(204, 238, 255);vertical-align:bottom"> </td> <td colspan="2" style="vertical-align:middle;background-color:rgb(204, 238, 255);vertical-align:bottom"> </td> <td colspan="1" style="vertical-align:bottom;background-color:rgb(204, 238, 255);vertical-align:bottom;white-space:nowrap"> </td> </tr> <tr> <td style="vertical-align:middle;width:64%;vertical-align:bottom"> <div style="text-align:justify;line-height:1.25;margin-left:9pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">Local</span></span></div> </td> <td colspan="1" style="vertical-align:bottom;width:1%;vertical-align:bottom"> </td> <td colspan="1" style="vertical-align:bottom;width:1%;vertical-align:bottom"> <div style="line-height:1.25"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">$</span></span></div> </td> <td colspan="1" style="vertical-align:bottom;text-align:right;width:9%;vertical-align:bottom"> <div style="line-height:1.25"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">14,181</span></span></div> </td> <td colspan="1" style="vertical-align:bottom;width:1%;vertical-align:bottom;white-space:nowrap"> </td> <td colspan="1" style="vertical-align:bottom;width:1%;vertical-align:bottom"> </td> <td colspan="1" style="vertical-align:bottom;width:1%;vertical-align:bottom"> <div style="line-height:1.25"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">$</span></span></div> </td> <td colspan="1" style="vertical-align:bottom;text-align:right;width:9%;vertical-align:bottom"> <div style="line-height:1.25"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">17,431</span></span></div> </td> <td colspan="1" style="vertical-align:bottom;width:1%;vertical-align:bottom;white-space:nowrap"> </td> <td colspan="1" style="vertical-align:bottom;width:1%;vertical-align:bottom"> </td> <td colspan="1" style="vertical-align:bottom;width:1%;vertical-align:bottom"> <div style="line-height:1.25"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">$</span></span></div> </td> <td colspan="1" style="vertical-align:bottom;text-align:right;width:9%;vertical-align:bottom"> <div style="line-height:1.25"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">-</span></span></div> </td> <td colspan="1" style="vertical-align:bottom;width:1%;vertical-align:bottom;white-space:nowrap"> </td> </tr> <tr> <td style="vertical-align:top;width:64%;background-color:rgb(204, 238, 255);vertical-align:bottom"> <div style="text-align:justify;line-height:1.25;margin-left:9pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">Foreign</span></span></div> </td> <td colspan="1" style="vertical-align:bottom;width:1%;background-color:rgb(204, 238, 255);vertical-align:bottom"> </td> <td colspan="1" style="vertical-align:bottom;width:1%;background-color:rgb(204, 238, 255);vertical-align:bottom"> </td> <td colspan="1" style="vertical-align:bottom;text-align:right;width:9%;background-color:rgb(204, 238, 255);vertical-align:bottom"> <div style="line-height:1.25"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">2,392</span></span></div> </td> <td colspan="1" style="vertical-align:bottom;width:1%;background-color:rgb(204, 238, 255);vertical-align:bottom;white-space:nowrap"> </td> <td colspan="1" style="vertical-align:bottom;width:1%;background-color:rgb(204, 238, 255);vertical-align:bottom"> </td> <td colspan="1" style="vertical-align:bottom;width:1%;background-color:rgb(204, 238, 255);vertical-align:bottom"> </td> <td colspan="1" style="vertical-align:bottom;text-align:right;width:9%;background-color:rgb(204, 238, 255);vertical-align:bottom"> <div style="line-height:1.25"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">5,579</span></span></div> </td> <td colspan="1" style="vertical-align:bottom;width:1%;background-color:rgb(204, 238, 255);vertical-align:bottom;white-space:nowrap"> </td> <td colspan="1" style="vertical-align:bottom;width:1%;background-color:rgb(204, 238, 255);vertical-align:bottom"> </td> <td colspan="1" style="vertical-align:bottom;width:1%;background-color:rgb(204, 238, 255);vertical-align:bottom"> </td> <td colspan="1" style="vertical-align:bottom;text-align:right;width:9%;background-color:rgb(204, 238, 255);vertical-align:bottom"> <div style="line-height:1.25"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">13,374</span></span></div> </td> <td colspan="1" style="vertical-align:bottom;width:1%;background-color:rgb(204, 238, 255);vertical-align:bottom;white-space:nowrap"> </td> </tr> <tr> <td style="vertical-align:middle;width:64%;vertical-align:bottom"> <div style="text-align:justify;line-height:1.25"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">Deferred tax expense (benefit):</span></span></div> </td> <td colspan="1" style="vertical-align:bottom;width:1%;vertical-align:bottom"> </td> <td colspan="1" style="vertical-align:bottom;width:1%;vertical-align:bottom"> </td> <td colspan="1" style="vertical-align:bottom;text-align:right;width:9%;vertical-align:bottom"> </td> <td colspan="1" style="vertical-align:bottom;width:1%;vertical-align:bottom;white-space:nowrap"> </td> <td colspan="1" style="vertical-align:bottom;width:1%;vertical-align:bottom"> </td> <td colspan="1" style="vertical-align:bottom;width:1%;vertical-align:bottom"> </td> <td colspan="1" style="vertical-align:bottom;text-align:right;width:9%;vertical-align:bottom"> </td> <td colspan="1" style="vertical-align:bottom;width:1%;vertical-align:bottom;white-space:nowrap"> </td> <td colspan="1" style="vertical-align:bottom;width:1%;vertical-align:bottom"> </td> <td colspan="1" style="vertical-align:bottom;width:1%;vertical-align:bottom"> </td> <td colspan="1" style="vertical-align:bottom;text-align:right;width:9%;vertical-align:bottom"> </td> <td colspan="1" style="vertical-align:bottom;width:1%;vertical-align:bottom;white-space:nowrap"> </td> </tr> <tr> <td style="vertical-align:middle;width:64%;background-color:rgb(204, 238, 255);vertical-align:bottom"> <div style="text-align:justify;line-height:1.25;margin-left:9pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">Local</span></span></div> </td> <td colspan="1" style="vertical-align:bottom;width:1%;background-color:rgb(204, 238, 255);vertical-align:bottom"> </td> <td colspan="1" style="vertical-align:bottom;width:1%;background-color:rgb(204, 238, 255);vertical-align:bottom"> </td> <td colspan="1" style="vertical-align:bottom;text-align:right;width:9%;background-color:rgb(204, 238, 255);vertical-align:bottom"> <div style="line-height:1.25"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">17,629</span></span></div> </td> <td colspan="1" style="vertical-align:bottom;width:1%;background-color:rgb(204, 238, 255);vertical-align:bottom;white-space:nowrap"> </td> <td colspan="1" style="vertical-align:bottom;width:1%;background-color:rgb(204, 238, 255);vertical-align:bottom"> </td> <td colspan="1" style="vertical-align:bottom;width:1%;background-color:rgb(204, 238, 255);vertical-align:bottom"> </td> <td colspan="1" style="vertical-align:bottom;text-align:right;width:9%;background-color:rgb(204, 238, 255);vertical-align:bottom"> <div style="line-height:1.25"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">(17,141</span></span></div> </td> <td colspan="1" style="vertical-align:bottom;width:1%;background-color:rgb(204, 238, 255);vertical-align:bottom;white-space:nowrap"> <div style="line-height:1.25"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">)</span></span></div> </td> <td colspan="1" style="vertical-align:bottom;width:1%;background-color:rgb(204, 238, 255);vertical-align:bottom"> </td> <td colspan="1" style="vertical-align:bottom;width:1%;background-color:rgb(204, 238, 255);vertical-align:bottom"> </td> <td colspan="1" style="vertical-align:bottom;text-align:right;width:9%;background-color:rgb(204, 238, 255);vertical-align:bottom"> <div style="line-height:1.25"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">62,748</span></span></div> </td> <td colspan="1" style="vertical-align:bottom;width:1%;background-color:rgb(204, 238, 255);vertical-align:bottom;white-space:nowrap"> </td> </tr> <tr> <td style="vertical-align:middle;width:64%;padding-bottom:2px;vertical-align:bottom"> <div style="text-align:justify;line-height:1.25;margin-left:9pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">Foreign</span></span></div> </td> <td colspan="1" style="vertical-align:bottom;width:1%;padding-bottom:2px;vertical-align:bottom"> </td> <td colspan="1" style="vertical-align:bottom;width:1%;border-bottom:2px solid rgb(0, 0, 0);vertical-align:bottom"> </td> <td colspan="1" style="vertical-align:bottom;text-align:right;width:9%;border-bottom:2px solid rgb(0, 0, 0);vertical-align:bottom"> <div style="line-height:1.25"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">(12,633</span></span></div> </td> <td colspan="1" style="vertical-align:bottom;width:1%;padding-bottom:2px;vertical-align:bottom;white-space:nowrap"> <div style="line-height:1.25"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">)</span></span></div> </td> <td colspan="1" style="vertical-align:bottom;width:1%;padding-bottom:2px;vertical-align:bottom"> </td> <td colspan="1" style="vertical-align:bottom;width:1%;border-bottom:2px solid rgb(0, 0, 0);vertical-align:bottom"> </td> <td colspan="1" style="vertical-align:bottom;text-align:right;width:9%;border-bottom:2px solid rgb(0, 0, 0);vertical-align:bottom"> <div style="line-height:1.25"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">4,336</span></span></div> </td> <td colspan="1" style="vertical-align:bottom;width:1%;padding-bottom:2px;vertical-align:bottom;white-space:nowrap"> </td> <td colspan="1" style="vertical-align:bottom;width:1%;padding-bottom:2px;vertical-align:bottom"> </td> <td colspan="1" style="vertical-align:bottom;width:1%;border-bottom:2px solid rgb(0, 0, 0);vertical-align:bottom"> </td> <td colspan="1" style="vertical-align:bottom;text-align:right;width:9%;border-bottom:2px solid rgb(0, 0, 0);vertical-align:bottom"> <div style="line-height:1.25"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">(10,810</span></span></div> </td> <td colspan="1" style="vertical-align:bottom;width:1%;padding-bottom:2px;vertical-align:bottom;white-space:nowrap"> <div style="line-height:1.25"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">)</span></span></div> </td> </tr> <tr> <td style="vertical-align:middle;width:64%;padding-bottom:4px;background-color:rgb(204, 238, 255);vertical-align:bottom"> <div style="text-align:justify;line-height:1.25"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">Income tax expense, net</span></span></div> </td> <td colspan="1" style="vertical-align:bottom;width:1%;padding-bottom:4px;background-color:rgb(204, 238, 255);vertical-align:bottom"> </td> <td colspan="1" style="vertical-align:bottom;width:1%;border-bottom:4px double rgb(0, 0, 0);background-color:rgb(204, 238, 255);vertical-align:bottom"> <div style="line-height:1.25"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">$</span></span></div> </td> <td colspan="1" style="vertical-align:bottom;text-align:right;width:9%;border-bottom:4px double rgb(0, 0, 0);background-color:rgb(204, 238, 255);vertical-align:bottom"> <div style="line-height:1.25"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">21,569</span></span></div> </td> <td colspan="1" style="vertical-align:bottom;width:1%;padding-bottom:4px;background-color:rgb(204, 238, 255);vertical-align:bottom;white-space:nowrap"> </td> <td colspan="1" style="vertical-align:bottom;width:1%;padding-bottom:4px;background-color:rgb(204, 238, 255);vertical-align:bottom"> </td> <td colspan="1" style="vertical-align:bottom;width:1%;border-bottom:4px double rgb(0, 0, 0);background-color:rgb(204, 238, 255);vertical-align:bottom"> <div style="line-height:1.25"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">$</span></span></div> </td> <td colspan="1" style="vertical-align:bottom;text-align:right;width:9%;border-bottom:4px double rgb(0, 0, 0);background-color:rgb(204, 238, 255);vertical-align:bottom"> <div style="line-height:1.25"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">10,205</span></span></div> </td> <td colspan="1" style="vertical-align:bottom;width:1%;padding-bottom:4px;background-color:rgb(204, 238, 255);vertical-align:bottom;white-space:nowrap"> </td> <td colspan="1" style="vertical-align:bottom;width:1%;padding-bottom:4px;background-color:rgb(204, 238, 255);vertical-align:bottom"> </td> <td colspan="1" style="vertical-align:bottom;width:1%;border-bottom:4px double rgb(0, 0, 0);background-color:rgb(204, 238, 255);vertical-align:bottom"> <div style="line-height:1.25"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">$</span></span></div> </td> <td colspan="1" style="vertical-align:bottom;text-align:right;width:9%;border-bottom:4px double rgb(0, 0, 0);background-color:rgb(204, 238, 255);vertical-align:bottom"> <div style="line-height:1.25"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">65,312</span></span></div> </td> <td colspan="1" style="vertical-align:bottom;width:1%;padding-bottom:4px;background-color:rgb(204, 238, 255);vertical-align:bottom;white-space:nowrap"> </td> </tr> </table> </div> </div> <div style="line-height:1.25;clear:both"> </div> <div> <div style="margin-left:99pt"> <table border="0" cellpadding="0" cellspacing="0" style="width:85%;color:#000000;font-family:'Times New Roman', Times, serif;font-size:10pt;text-align:left"> <tr> <td style="vertical-align:middle;padding-bottom:2px;vertical-align:bottom"> <div style="text-align:justify;line-height:1.25"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">Details</span></span></div> </td> <td colspan="1" style="vertical-align:bottom;padding-bottom:2px;vertical-align:bottom"> </td> <td colspan="2" style="vertical-align:middle;border-bottom:#000000 solid 2px;vertical-align:bottom"> <div style="text-align:center;line-height:1.25"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">2025</span></span></div> </td> <td colspan="1" style="vertical-align:bottom;padding-bottom:2px;vertical-align:bottom;white-space:nowrap"> </td> <td colspan="1" style="vertical-align:bottom;padding-bottom:2px;vertical-align:bottom"> </td> <td colspan="2" style="vertical-align:middle;border-bottom:#000000 solid 2px;vertical-align:bottom"> <div style="text-align:center;line-height:1.25"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">2024</span></span></div> </td> <td colspan="1" style="vertical-align:bottom;padding-bottom:2px;vertical-align:bottom;white-space:nowrap"> </td> <td colspan="1" style="vertical-align:bottom;padding-bottom:2px;vertical-align:bottom"> </td> <td colspan="2" style="vertical-align:middle;border-bottom:#000000 solid 2px;vertical-align:bottom"> <div style="text-align:center;line-height:1.25"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">2023</span></span></div> </td> <td colspan="1" style="vertical-align:bottom;padding-bottom:2px;vertical-align:bottom;white-space:nowrap"> </td> </tr> <tr> <td style="vertical-align:middle;background-color:rgb(204, 238, 255);vertical-align:bottom"> <div style="text-align:justify;line-height:1.25"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">Profit (loss) before taxes:</span></span></div> </td> <td colspan="1" style="vertical-align:bottom;background-color:rgb(204, 238, 255);vertical-align:bottom"> </td> <td colspan="2" style="vertical-align:middle;background-color:rgb(204, 238, 255);vertical-align:bottom"> </td> <td colspan="1" style="vertical-align:bottom;background-color:rgb(204, 238, 255);vertical-align:bottom;white-space:nowrap"> </td> <td colspan="1" style="vertical-align:bottom;background-color:rgb(204, 238, 255);vertical-align:bottom"> </td> <td colspan="2" style="vertical-align:middle;background-color:rgb(204, 238, 255);vertical-align:bottom"> </td> <td colspan="1" style="vertical-align:bottom;background-color:rgb(204, 238, 255);vertical-align:bottom;white-space:nowrap"> </td> <td colspan="1" style="vertical-align:bottom;background-color:rgb(204, 238, 255);vertical-align:bottom"> </td> <td colspan="2" style="vertical-align:middle;background-color:rgb(204, 238, 255);vertical-align:bottom"> </td> <td colspan="1" style="vertical-align:bottom;background-color:rgb(204, 238, 255);vertical-align:bottom;white-space:nowrap"> </td> </tr> <tr> <td style="vertical-align:middle;width:64%;vertical-align:bottom"> <div style="text-align:justify;line-height:1.25;margin-left:9pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">Local</span></span></div> </td> <td colspan="1" style="vertical-align:bottom;width:1%;vertical-align:bottom"> </td> <td colspan="1" style="vertical-align:bottom;width:1%;vertical-align:bottom"> <div style="line-height:1.25"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">$</span></span></div> </td> <td colspan="1" style="vertical-align:bottom;text-align:right;width:9%;vertical-align:bottom"> <div style="line-height:1.25"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">211,122</span></span></div> </td> <td colspan="1" style="vertical-align:bottom;width:1%;vertical-align:bottom;white-space:nowrap"> </td> <td colspan="1" style="vertical-align:bottom;width:1%;vertical-align:bottom"> </td> <td colspan="1" style="vertical-align:bottom;width:1%;vertical-align:bottom"> <div style="line-height:1.25"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">$</span></span></div> </td> <td colspan="1" style="vertical-align:bottom;text-align:right;width:9%;vertical-align:bottom"> <div style="line-height:1.25"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">242,879</span></span></div> </td> <td colspan="1" style="vertical-align:bottom;width:1%;vertical-align:bottom;white-space:nowrap"> </td> <td colspan="1" style="vertical-align:bottom;width:1%;vertical-align:bottom"> </td> <td colspan="1" style="vertical-align:bottom;width:1%;vertical-align:bottom"> <div style="line-height:1.25"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">$</span></span></div> </td> <td colspan="1" style="vertical-align:bottom;text-align:right;width:9%;vertical-align:bottom"> <div style="line-height:1.25"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">588,453</span></span></div> </td> <td colspan="1" style="vertical-align:bottom;width:1%;vertical-align:bottom;white-space:nowrap"> </td> </tr> <tr> <td style="vertical-align:middle;width:64%;padding-bottom:2px;background-color:rgb(204, 238, 255);vertical-align:bottom"> <div style="text-align:justify;line-height:1.25;margin-left:9pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">Foreign</span></span></div> </td> <td colspan="1" style="vertical-align:bottom;width:1%;padding-bottom:2px;background-color:rgb(204, 238, 255);vertical-align:bottom"> </td> <td colspan="1" style="vertical-align:bottom;width:1%;border-bottom:2px solid rgb(0, 0, 0);background-color:rgb(204, 238, 255);vertical-align:bottom"> </td> <td colspan="1" style="vertical-align:bottom;text-align:right;width:9%;border-bottom:2px solid rgb(0, 0, 0);background-color:rgb(204, 238, 255);vertical-align:bottom"> <div style="line-height:1.25"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">29,261</span></span></div> </td> <td colspan="1" style="vertical-align:bottom;width:1%;padding-bottom:2px;background-color:rgb(204, 238, 255);vertical-align:bottom;white-space:nowrap"> </td> <td colspan="1" style="vertical-align:bottom;width:1%;padding-bottom:2px;background-color:rgb(204, 238, 255);vertical-align:bottom"> </td> <td colspan="1" style="vertical-align:bottom;width:1%;border-bottom:2px solid rgb(0, 0, 0);background-color:rgb(204, 238, 255);vertical-align:bottom"> </td> <td colspan="1" style="vertical-align:bottom;text-align:right;width:9%;border-bottom:2px solid rgb(0, 0, 0);background-color:rgb(204, 238, 255);vertical-align:bottom"> <div style="line-height:1.25"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">(25,452</span></span></div> </td> <td colspan="1" style="vertical-align:bottom;width:1%;padding-bottom:2px;background-color:rgb(204, 238, 255);vertical-align:bottom;white-space:nowrap"> <div style="line-height:1.25"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">)</span></span></div> </td> <td colspan="1" style="vertical-align:bottom;width:1%;padding-bottom:2px;background-color:rgb(204, 238, 255);vertical-align:bottom"> </td> <td colspan="1" style="vertical-align:bottom;width:1%;border-bottom:2px solid rgb(0, 0, 0);background-color:rgb(204, 238, 255);vertical-align:bottom"> </td> <td colspan="1" style="vertical-align:bottom;text-align:right;width:9%;border-bottom:2px solid rgb(0, 0, 0);background-color:rgb(204, 238, 255);vertical-align:bottom"> <div style="line-height:1.25"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">(3,611</span></span></div> </td> <td colspan="1" style="vertical-align:bottom;width:1%;padding-bottom:2px;background-color:rgb(204, 238, 255);vertical-align:bottom;white-space:nowrap"> <div style="line-height:1.25"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">)</span></span></div> </td> </tr> <tr> <td style="vertical-align:middle;width:64%;padding-bottom:4px;vertical-align:bottom"> <div style="text-align:justify;line-height:1.25"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">Total profit (loss) before taxes</span></span></div> </td> <td colspan="1" style="vertical-align:bottom;width:1%;padding-bottom:4px;vertical-align:bottom"> </td> <td colspan="1" style="vertical-align:bottom;width:1%;border-bottom:4px double rgb(0, 0, 0);vertical-align:bottom"> <div style="line-height:1.25"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">$</span></span></div> </td> <td colspan="1" style="vertical-align:bottom;text-align:right;width:9%;border-bottom:4px double rgb(0, 0, 0);vertical-align:bottom"> <div style="line-height:1.25"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">240,383</span></span></div> </td> <td colspan="1" style="vertical-align:bottom;width:1%;padding-bottom:4px;vertical-align:bottom;white-space:nowrap"> </td> <td colspan="1" style="vertical-align:bottom;width:1%;padding-bottom:4px;vertical-align:bottom"> </td> <td colspan="1" style="vertical-align:bottom;width:1%;border-bottom:4px double rgb(0, 0, 0);vertical-align:bottom"> <div style="line-height:1.25"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">$</span></span></div> </td> <td colspan="1" style="vertical-align:bottom;text-align:right;width:9%;border-bottom:4px double rgb(0, 0, 0);vertical-align:bottom"> <div style="line-height:1.25"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">217,427</span></span></div> </td> <td colspan="1" style="vertical-align:bottom;width:1%;padding-bottom:4px;vertical-align:bottom;white-space:nowrap"> </td> <td colspan="1" style="vertical-align:bottom;width:1%;padding-bottom:4px;vertical-align:bottom"> </td> <td colspan="1" style="vertical-align:bottom;width:1%;border-bottom:4px double rgb(0, 0, 0);vertical-align:bottom"> <div style="line-height:1.25"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">$</span></span></div> </td> <td colspan="1" style="vertical-align:bottom;text-align:right;width:9%;border-bottom:4px double rgb(0, 0, 0);vertical-align:bottom"> <div style="line-height:1.25"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">584,842</span></span></div> </td> <td colspan="1" style="vertical-align:bottom;width:1%;padding-bottom:4px;vertical-align:bottom;white-space:nowrap"> </td> </tr> </table> </div> </div> <div style="line-height:1.25;clear:both"> </div> <div></div> <div style="line-height:1.25"> <div style="line-height:1.25"> <div style="line-height:1.25"> <div style="line-height:1.25"> <div style="line-height:1.25"> <div style="line-height:1.25"> <div> <div style="text-align:justify;line-height:1.25"> <table border="0" cellpadding="0" cellspacing="0" style="font-family:'Times New Roman', Times, serif;font-size:10pt;color:#000000;width:100%"> <tr> <td style="width:56pt"> <div> </div> </td> <td style="font-weight:bold;width:22pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">C.</span></span></td> <td style="font-weight:bold;width:auto"> <div> <div style="font-weight:bold"> <div style="font-weight:bold"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span style="font-weight:bold">Components of Deferred Tax Asset/Liability</span></span></span></div> </div> </div> </td> </tr> </table><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">        </span></span> <div style="line-height:1.25"> <div style="line-height:1.25"> <div style="line-height:1.25"> <div style="line-height:1.25"> <div style="line-height:1.25"> <div> <div style="line-height:1.25"> <table border="0" cellpadding="0" cellspacing="0" style="font-family:'Times New Roman', Times, serif;font-size:10pt;color:#000000;width:100%"> <tr> <td style="width:56pt"> <div> </div> </td> <td style="font-weight:bold;width:22pt"> </td> <td style="font-weight:normal;width:auto"> <div> <div> <div> <div style="text-align:justify;line-height:1.25"> <div style="line-height:1.25"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">The following is a summary of the components of the deferred tax assets and liabilities reflected in the balance sheets as of December 31, 2025 and 2024:</span></span></div> </div> </div> </div> </div> </td> </tr> </table> <p style="margin-top:0pt;margin-bottom:0pt"> </p> </div> </div> </div> </div> </div> </div> </div> </div> </div> </div> </div> </div> </div> </div> </div> <div> <div style="margin-left:99pt"> <table border="0" cellpadding="0" cellspacing="0" style="width:85%;color:#000000;font-family:'Times New Roman', Times, serif;font-size:10pt;text-align:left"> <tr> <td style="vertical-align:top;padding-bottom:2px;vertical-align:bottom"> <div style="text-align:justify;line-height:1.25"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">Details</span></span></div> </td> <td colspan="1" style="vertical-align:bottom;padding-bottom:2px;vertical-align:bottom"> </td> <td colspan="2" style="vertical-align:top;border-bottom:#000000 solid 2px;vertical-align:bottom"> <div style="text-align:center;line-height:1.25"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">2025</span></span></div> </td> <td colspan="1" style="vertical-align:bottom;padding-bottom:2px;vertical-align:bottom;white-space:nowrap"> </td> <td colspan="1" style="vertical-align:bottom;padding-bottom:2px;vertical-align:bottom"> </td> <td colspan="2" style="vertical-align:top;border-bottom:#000000 solid 2px;vertical-align:bottom"> <div style="text-align:center;line-height:1.25"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">2024</span></span></div> </td> <td colspan="1" style="vertical-align:bottom;padding-bottom:2px;vertical-align:bottom;white-space:nowrap"> </td> </tr> <tr> <td style="vertical-align:top;background-color:rgb(204, 238, 255);vertical-align:bottom"> <div style="text-align:justify;line-height:1.25"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">Deferred tax asset and liability - long-term:</span></span></div> </td> <td colspan="1" style="vertical-align:bottom;background-color:rgb(204, 238, 255);vertical-align:bottom"> </td> <td colspan="2" style="vertical-align:top;background-color:rgb(204, 238, 255);vertical-align:bottom"> </td> <td colspan="1" style="vertical-align:bottom;background-color:rgb(204, 238, 255);vertical-align:bottom;white-space:nowrap"> </td> <td colspan="1" style="vertical-align:bottom;background-color:rgb(204, 238, 255);vertical-align:bottom"> </td> <td colspan="2" style="vertical-align:top;background-color:rgb(204, 238, 255);vertical-align:bottom"> </td> <td colspan="1" style="vertical-align:bottom;background-color:rgb(204, 238, 255);vertical-align:bottom;white-space:nowrap"> </td> </tr> <tr> <td style="vertical-align:top;vertical-align:bottom"> <div style="text-align:justify;line-height:1.25;font-weight:bold"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">Deferred tax assets:</span></span></div> </td> <td colspan="1" style="vertical-align:bottom;vertical-align:bottom"> </td> <td colspan="2" style="vertical-align:top;vertical-align:bottom"> </td> <td colspan="1" style="vertical-align:bottom;vertical-align:bottom;white-space:nowrap"> </td> <td colspan="1" style="vertical-align:bottom;vertical-align:bottom"> </td> <td colspan="2" style="vertical-align:top;vertical-align:bottom"> </td> <td colspan="1" style="vertical-align:bottom;vertical-align:bottom;white-space:nowrap"> </td> </tr> <tr> <td style="vertical-align:top;width:76%;background-color:rgb(204, 238, 255);vertical-align:bottom"> <div style="text-align:justify;line-height:1.25"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">Net operating loss carryforward</span></span></div> </td> <td colspan="1" style="vertical-align:bottom;width:1%;background-color:rgb(204, 238, 255);vertical-align:bottom"> </td> <td colspan="1" style="vertical-align:bottom;width:1%;background-color:rgb(204, 238, 255);vertical-align:bottom"> <div style="line-height:1.25"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">$</span></span></div> </td> <td colspan="1" style="vertical-align:bottom;text-align:right;width:9%;background-color:rgb(204, 238, 255);vertical-align:bottom"> <div style="line-height:1.25"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">19,446</span></span></div> </td> <td colspan="1" style="vertical-align:bottom;width:1%;background-color:rgb(204, 238, 255);vertical-align:bottom;white-space:nowrap"> </td> <td colspan="1" style="vertical-align:bottom;width:1%;background-color:rgb(204, 238, 255);vertical-align:bottom"> </td> <td colspan="1" style="vertical-align:bottom;width:1%;background-color:rgb(204, 238, 255);vertical-align:bottom"> <div style="line-height:1.25"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">$</span></span></div> </td> <td colspan="1" style="vertical-align:bottom;text-align:right;width:9%;background-color:rgb(204, 238, 255);vertical-align:bottom"> <div style="line-height:1.25"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">7,397</span></span></div> </td> <td colspan="1" style="vertical-align:bottom;width:1%;background-color:rgb(204, 238, 255);vertical-align:bottom;white-space:nowrap"> </td> </tr> <tr> <td style="vertical-align:top;width:76%;vertical-align:bottom"> <div style="text-align:justify;line-height:1.25"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">Employees compensation</span></span></div> </td> <td colspan="1" style="vertical-align:bottom;width:1%;vertical-align:bottom"> </td> <td colspan="1" style="vertical-align:bottom;width:1%;vertical-align:bottom"> </td> <td colspan="1" style="vertical-align:bottom;text-align:right;width:9%;vertical-align:bottom"> <div style="line-height:1.25"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">10,215</span></span></div> </td> <td colspan="1" style="vertical-align:bottom;width:1%;vertical-align:bottom;white-space:nowrap"> </td> <td colspan="1" style="vertical-align:bottom;width:1%;vertical-align:bottom"> </td> <td colspan="1" style="vertical-align:bottom;width:1%;vertical-align:bottom"> </td> <td colspan="1" style="vertical-align:bottom;text-align:right;width:9%;vertical-align:bottom"> <div style="line-height:1.25"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">9,675</span></span></div> </td> <td colspan="1" style="vertical-align:bottom;width:1%;vertical-align:bottom;white-space:nowrap"> </td> </tr> <tr> <td style="vertical-align:top;width:76%;background-color:rgb(204, 238, 255);vertical-align:bottom"> <div style="text-align:justify;line-height:1.25"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">Accruals and allowances</span></span></div> </td> <td colspan="1" style="vertical-align:bottom;width:1%;background-color:rgb(204, 238, 255);vertical-align:bottom"> </td> <td colspan="1" style="vertical-align:bottom;width:1%;background-color:rgb(204, 238, 255);vertical-align:bottom"> </td> <td colspan="1" style="vertical-align:bottom;text-align:right;width:9%;background-color:rgb(204, 238, 255);vertical-align:bottom"> <div style="line-height:1.25"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">9,332</span></span></div> </td> <td colspan="1" style="vertical-align:bottom;width:1%;background-color:rgb(204, 238, 255);vertical-align:bottom;white-space:nowrap"> </td> <td colspan="1" style="vertical-align:bottom;width:1%;background-color:rgb(204, 238, 255);vertical-align:bottom"> </td> <td colspan="1" style="vertical-align:bottom;width:1%;background-color:rgb(204, 238, 255);vertical-align:bottom"> </td> <td colspan="1" style="vertical-align:bottom;text-align:right;width:9%;background-color:rgb(204, 238, 255);vertical-align:bottom"> <div style="line-height:1.25"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">11,355</span></span></div> </td> <td colspan="1" style="vertical-align:bottom;width:1%;background-color:rgb(204, 238, 255);vertical-align:bottom;white-space:nowrap"> </td> </tr> <tr> <td style="vertical-align:top;width:76%;vertical-align:bottom"> <div style="text-align:justify;line-height:1.25"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">Research and development credit</span></span></div> </td> <td colspan="1" style="vertical-align:bottom;width:1%;vertical-align:bottom"> </td> <td colspan="1" style="vertical-align:bottom;width:1%;vertical-align:bottom"> </td> <td colspan="1" style="vertical-align:bottom;text-align:right;width:9%;vertical-align:bottom"> <div style="line-height:1.25"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">26,027</span></span></div> </td> <td colspan="1" style="vertical-align:bottom;width:1%;vertical-align:bottom;white-space:nowrap"> </td> <td colspan="1" style="vertical-align:bottom;width:1%;vertical-align:bottom"> </td> <td colspan="1" style="vertical-align:bottom;width:1%;vertical-align:bottom"> </td> <td colspan="1" style="vertical-align:bottom;text-align:right;width:9%;vertical-align:bottom"> <div style="line-height:1.25"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">24,689</span></span></div> </td> <td colspan="1" style="vertical-align:bottom;width:1%;vertical-align:bottom;white-space:nowrap"> </td> </tr> <tr> <td style="vertical-align:top;width:76%;background-color:rgb(204, 238, 255);vertical-align:bottom"> <div style="text-align:justify;line-height:1.25"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">Research and development, including Section 174 under U.S. Internal Revenue Code</span></span></div> </td> <td colspan="1" style="vertical-align:bottom;width:1%;background-color:rgb(204, 238, 255);vertical-align:bottom"> </td> <td colspan="1" style="vertical-align:bottom;width:1%;background-color:rgb(204, 238, 255);vertical-align:bottom"> </td> <td colspan="1" style="vertical-align:bottom;text-align:right;width:9%;background-color:rgb(204, 238, 255);vertical-align:bottom"> <div style="line-height:1.25"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">18,299</span></span></div> </td> <td colspan="1" style="vertical-align:bottom;width:1%;background-color:rgb(204, 238, 255);vertical-align:bottom;white-space:nowrap"> </td> <td colspan="1" style="vertical-align:bottom;width:1%;background-color:rgb(204, 238, 255);vertical-align:bottom"> </td> <td colspan="1" style="vertical-align:bottom;width:1%;background-color:rgb(204, 238, 255);vertical-align:bottom"> </td> <td colspan="1" style="vertical-align:bottom;text-align:right;width:9%;background-color:rgb(204, 238, 255);vertical-align:bottom"> <div style="line-height:1.25"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">27,732</span></span></div> </td> <td colspan="1" style="vertical-align:bottom;width:1%;background-color:rgb(204, 238, 255);vertical-align:bottom;white-space:nowrap"> </td> </tr> <tr> <td style="vertical-align:top;width:76%;vertical-align:bottom"> <div style="text-align:justify;line-height:1.25"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">Lease liabilities</span></span></div> </td> <td colspan="1" style="vertical-align:bottom;width:1%;vertical-align:bottom"> </td> <td colspan="1" style="vertical-align:bottom;width:1%;vertical-align:bottom"> </td> <td colspan="1" style="vertical-align:bottom;text-align:right;width:9%;vertical-align:bottom"> <div style="line-height:1.25"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">10,629</span></span></div> </td> <td colspan="1" style="vertical-align:bottom;width:1%;vertical-align:bottom;white-space:nowrap"> </td> <td colspan="1" style="vertical-align:bottom;width:1%;vertical-align:bottom"> </td> <td colspan="1" style="vertical-align:bottom;width:1%;vertical-align:bottom"> </td> <td colspan="1" style="vertical-align:bottom;text-align:right;width:9%;vertical-align:bottom"> <div style="line-height:1.25"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">9,617</span></span></div> </td> <td colspan="1" style="vertical-align:bottom;width:1%;vertical-align:bottom;white-space:nowrap"> </td> </tr> <tr> <td style="vertical-align:top;width:76%;background-color:rgb(204, 238, 255);padding-bottom:2px;vertical-align:bottom"> <div style="text-align:justify;line-height:1.25"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">Others</span></span></div> </td> <td colspan="1" style="vertical-align:bottom;width:1%;background-color:rgb(204, 238, 255);padding-bottom:2px;vertical-align:bottom"> </td> <td colspan="1" style="vertical-align:bottom;width:1%;background-color:rgb(204, 238, 255);border-bottom:2px solid rgb(0, 0, 0);vertical-align:bottom"> </td> <td colspan="1" style="vertical-align:bottom;text-align:right;width:9%;background-color:rgb(204, 238, 255);border-bottom:2px solid rgb(0, 0, 0);vertical-align:bottom"> <div style="line-height:1.25"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">722</span></span></div> </td> <td colspan="1" style="vertical-align:bottom;width:1%;background-color:rgb(204, 238, 255);padding-bottom:2px;vertical-align:bottom;white-space:nowrap"> </td> <td colspan="1" style="vertical-align:bottom;width:1%;background-color:rgb(204, 238, 255);padding-bottom:2px;vertical-align:bottom"> </td> <td colspan="1" style="vertical-align:bottom;width:1%;background-color:rgb(204, 238, 255);border-bottom:2px solid rgb(0, 0, 0);vertical-align:bottom"> </td> <td colspan="1" style="vertical-align:bottom;text-align:right;width:9%;background-color:rgb(204, 238, 255);border-bottom:2px solid rgb(0, 0, 0);vertical-align:bottom"> <div style="line-height:1.25"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">652</span></span></div> </td> <td colspan="1" style="vertical-align:bottom;width:1%;background-color:rgb(204, 238, 255);padding-bottom:2px;vertical-align:bottom;white-space:nowrap"> </td> </tr> <tr> <td style="vertical-align:top;width:76%;vertical-align:bottom"> </td> <td colspan="1" style="vertical-align:bottom;width:1%;vertical-align:bottom"> </td> <td colspan="1" style="vertical-align:bottom;width:1%;vertical-align:bottom"> </td> <td colspan="1" style="vertical-align:bottom;text-align:right;width:9%;vertical-align:bottom"> <div style="line-height:1.25"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">94,670</span></span></div> </td> <td colspan="1" style="vertical-align:bottom;width:1%;vertical-align:bottom;white-space:nowrap"> </td> <td colspan="1" style="vertical-align:bottom;width:1%;vertical-align:bottom"> </td> <td colspan="1" style="vertical-align:bottom;width:1%;vertical-align:bottom"> </td> <td colspan="1" style="vertical-align:bottom;text-align:right;width:9%;vertical-align:bottom"> <div style="line-height:1.25"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">91,117</span></span></div> </td> <td colspan="1" style="vertical-align:bottom;width:1%;vertical-align:bottom;white-space:nowrap"> </td> </tr> <tr> <td style="vertical-align:top;width:76%;background-color:rgb(204, 238, 255);padding-bottom:2px;vertical-align:bottom"> <div style="text-align:justify;line-height:1.25"> <div style="text-align:left;line-height:1.25;font-family:'Times New Roman',Times,serif"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">Valuation allowance, see Note 17E below</span></span></div> </div> </td> <td colspan="1" style="vertical-align:bottom;width:1%;background-color:rgb(204, 238, 255);padding-bottom:2px;vertical-align:bottom"> </td> <td colspan="1" style="vertical-align:bottom;width:1%;background-color:rgb(204, 238, 255);border-bottom:2px solid rgb(0, 0, 0);vertical-align:bottom"> </td> <td colspan="1" style="vertical-align:bottom;text-align:right;width:9%;background-color:rgb(204, 238, 255);border-bottom:2px solid rgb(0, 0, 0);vertical-align:bottom"> <div style="line-height:1.25"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">(24,522</span></span></div> </td> <td colspan="1" style="vertical-align:bottom;width:1%;background-color:rgb(204, 238, 255);padding-bottom:2px;vertical-align:bottom;white-space:nowrap"> <div style="line-height:1.25"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">)</span></span></div> </td> <td colspan="1" style="vertical-align:bottom;width:1%;background-color:rgb(204, 238, 255);padding-bottom:2px;vertical-align:bottom"> </td> <td colspan="1" style="vertical-align:bottom;width:1%;background-color:rgb(204, 238, 255);border-bottom:2px solid rgb(0, 0, 0);vertical-align:bottom"> </td> <td colspan="1" style="vertical-align:bottom;text-align:right;width:9%;background-color:rgb(204, 238, 255);border-bottom:2px solid rgb(0, 0, 0);vertical-align:bottom"> <div style="line-height:1.25"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">(31,613</span></span></div> </td> <td colspan="1" style="vertical-align:bottom;width:1%;background-color:rgb(204, 238, 255);padding-bottom:2px;vertical-align:bottom;white-space:nowrap"> <div style="line-height:1.25"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">)</span></span></div> </td> </tr> <tr> <td style="vertical-align:top;width:76%;padding-bottom:4px;vertical-align:bottom"> <div style="text-align:justify;line-height:1.25"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">Deferred tax assets</span></span></div> </td> <td colspan="1" style="vertical-align:bottom;width:1%;padding-bottom:4px;vertical-align:bottom"> </td> <td colspan="1" style="vertical-align:bottom;width:1%;border-bottom:4px double rgb(0, 0, 0);vertical-align:bottom"> <div style="line-height:1.25"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">$</span></span></div> </td> <td colspan="1" style="vertical-align:bottom;text-align:right;width:9%;border-bottom:4px double rgb(0, 0, 0);vertical-align:bottom"> <div style="line-height:1.25"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">70,148</span></span></div> </td> <td colspan="1" style="vertical-align:bottom;width:1%;padding-bottom:4px;vertical-align:bottom;white-space:nowrap"> </td> <td colspan="1" style="vertical-align:bottom;width:1%;padding-bottom:4px;vertical-align:bottom"> </td> <td colspan="1" style="vertical-align:bottom;width:1%;border-bottom:4px double rgb(0, 0, 0);vertical-align:bottom"> <div style="line-height:1.25"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">$</span></span></div> </td> <td colspan="1" style="vertical-align:bottom;text-align:right;width:9%;border-bottom:4px double rgb(0, 0, 0);vertical-align:bottom"> <div style="line-height:1.25"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">59,504</span></span></div> </td> <td colspan="1" style="vertical-align:bottom;width:1%;padding-bottom:4px;vertical-align:bottom;white-space:nowrap"> </td> </tr> <tr> <td style="vertical-align:top;width:76%;background-color:rgb(204, 238, 255);vertical-align:bottom"> <div style="text-align:justify;line-height:1.25;font-weight:bold"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">Deferred tax liabilities - long-term:</span></span></div> </td> <td colspan="1" style="vertical-align:bottom;width:1%;background-color:rgb(204, 238, 255);vertical-align:bottom"> </td> <td colspan="1" style="vertical-align:bottom;width:1%;background-color:rgb(204, 238, 255);vertical-align:bottom"> </td> <td colspan="1" style="vertical-align:bottom;text-align:right;width:9%;background-color:rgb(204, 238, 255);vertical-align:bottom"> </td> <td colspan="1" style="vertical-align:bottom;width:1%;background-color:rgb(204, 238, 255);vertical-align:bottom;white-space:nowrap"> </td> <td colspan="1" style="vertical-align:bottom;width:1%;background-color:rgb(204, 238, 255);vertical-align:bottom"> </td> <td colspan="1" style="vertical-align:bottom;width:1%;background-color:rgb(204, 238, 255);vertical-align:bottom"> </td> <td colspan="1" style="vertical-align:bottom;text-align:right;width:9%;background-color:rgb(204, 238, 255);vertical-align:bottom"> </td> <td colspan="1" style="vertical-align:bottom;width:1%;background-color:rgb(204, 238, 255);vertical-align:bottom;white-space:nowrap"> </td> </tr> <tr> <td style="vertical-align:top;width:76%;vertical-align:bottom"> <div style="text-align:justify;line-height:1.25"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">Depreciation and amortization</span></span></div> </td> <td colspan="1" style="vertical-align:bottom;width:1%;vertical-align:bottom"> </td> <td colspan="1" style="vertical-align:bottom;width:1%;vertical-align:bottom"> <div style="line-height:1.25"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">$</span></span></div> </td> <td colspan="1" style="vertical-align:bottom;text-align:right;width:9%;vertical-align:bottom"> <div style="line-height:1.25"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">(62,184</span></span></div> </td> <td colspan="1" style="vertical-align:bottom;width:1%;vertical-align:bottom;white-space:nowrap"> <div style="line-height:1.25"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">)</span></span></div> </td> <td colspan="1" style="vertical-align:bottom;width:1%;vertical-align:bottom"> </td> <td colspan="1" style="vertical-align:bottom;width:1%;vertical-align:bottom"> <div style="line-height:1.25"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">$</span></span></div> </td> <td colspan="1" style="vertical-align:bottom;text-align:right;width:9%;vertical-align:bottom"> <div style="line-height:1.25"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">(64,859</span></span></div> </td> <td colspan="1" style="vertical-align:bottom;width:1%;vertical-align:bottom;white-space:nowrap"> <div style="line-height:1.25"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">)</span></span></div> </td> </tr> <tr> <td style="vertical-align:top;width:76%;background-color:rgb(204, 238, 255);vertical-align:bottom"> <div style="text-align:justify;line-height:1.25"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">ROU - assets under operating leases</span></span></div> </td> <td colspan="1" style="vertical-align:bottom;width:1%;background-color:rgb(204, 238, 255);vertical-align:bottom"> </td> <td colspan="1" style="vertical-align:bottom;width:1%;background-color:rgb(204, 238, 255);vertical-align:bottom"> </td> <td colspan="1" style="vertical-align:bottom;text-align:right;width:9%;background-color:rgb(204, 238, 255);vertical-align:bottom"> <div style="line-height:1.25"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">(2,284</span></span></div> </td> <td colspan="1" style="vertical-align:bottom;width:1%;background-color:rgb(204, 238, 255);vertical-align:bottom;white-space:nowrap"> <div style="line-height:1.25"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">)</span></span></div> </td> <td colspan="1" style="vertical-align:bottom;width:1%;background-color:rgb(204, 238, 255);vertical-align:bottom"> </td> <td colspan="1" style="vertical-align:bottom;width:1%;background-color:rgb(204, 238, 255);vertical-align:bottom"> </td> <td colspan="1" style="vertical-align:bottom;text-align:right;width:9%;background-color:rgb(204, 238, 255);vertical-align:bottom"> <div style="line-height:1.25"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">(1,131</span></span></div> </td> <td colspan="1" style="vertical-align:bottom;width:1%;background-color:rgb(204, 238, 255);vertical-align:bottom;white-space:nowrap"> <div style="line-height:1.25"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">)</span></span></div> </td> </tr> <tr> <td style="vertical-align:top;width:76%;padding-bottom:2px;vertical-align:bottom"> <div style="text-align:justify;line-height:1.25"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">Others</span></span></div> </td> <td colspan="1" style="vertical-align:bottom;width:1%;padding-bottom:2px;vertical-align:bottom"> </td> <td colspan="1" style="vertical-align:bottom;width:1%;border-bottom:2px solid rgb(0, 0, 0);vertical-align:bottom"> </td> <td colspan="1" style="vertical-align:bottom;text-align:right;width:9%;border-bottom:2px solid rgb(0, 0, 0);vertical-align:bottom"> <div style="line-height:1.25"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">(1,148</span></span></div> </td> <td colspan="1" style="vertical-align:bottom;width:1%;padding-bottom:2px;vertical-align:bottom;white-space:nowrap"> <div style="line-height:1.25"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">)</span></span></div> </td> <td colspan="1" style="vertical-align:bottom;width:1%;padding-bottom:2px;vertical-align:bottom"> </td> <td colspan="1" style="vertical-align:bottom;width:1%;border-bottom:2px solid rgb(0, 0, 0);vertical-align:bottom"> </td> <td colspan="1" style="vertical-align:bottom;text-align:right;width:9%;border-bottom:2px solid rgb(0, 0, 0);vertical-align:bottom"> <div style="line-height:1.25"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">(801</span></span></div> </td> <td colspan="1" style="vertical-align:bottom;width:1%;padding-bottom:2px;vertical-align:bottom;white-space:nowrap"> <div style="line-height:1.25"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">)</span></span></div> </td> </tr> <tr> <td style="vertical-align:top;width:76%;background-color:rgb(204, 238, 255);padding-bottom:4px;vertical-align:bottom"> <div style="text-align:justify;line-height:1.25"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">Deferred tax liabilities</span></span></div> </td> <td colspan="1" style="vertical-align:bottom;width:1%;background-color:rgb(204, 238, 255);padding-bottom:4px;vertical-align:bottom"> </td> <td colspan="1" style="vertical-align:bottom;width:1%;background-color:rgb(204, 238, 255);border-bottom:4px double rgb(0, 0, 0);vertical-align:bottom"> <div style="line-height:1.25"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">$</span></span></div> </td> <td colspan="1" style="vertical-align:bottom;text-align:right;width:9%;background-color:rgb(204, 238, 255);border-bottom:4px double rgb(0, 0, 0);vertical-align:bottom"> <div style="line-height:1.25"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">(65,616</span></span></div> </td> <td colspan="1" style="vertical-align:bottom;width:1%;background-color:rgb(204, 238, 255);padding-bottom:4px;vertical-align:bottom;white-space:nowrap"> <div style="line-height:1.25"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">)</span></span></div> </td> <td colspan="1" style="vertical-align:bottom;width:1%;background-color:rgb(204, 238, 255);padding-bottom:4px;vertical-align:bottom"> </td> <td colspan="1" style="vertical-align:bottom;width:1%;background-color:rgb(204, 238, 255);border-bottom:4px double rgb(0, 0, 0);vertical-align:bottom"> <div style="line-height:1.25"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">$</span></span></div> </td> <td colspan="1" style="vertical-align:bottom;text-align:right;width:9%;background-color:rgb(204, 238, 255);border-bottom:4px double rgb(0, 0, 0);vertical-align:bottom"> <div style="line-height:1.25"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">(66,791</span></span></div> </td> <td colspan="1" style="vertical-align:bottom;width:1%;background-color:rgb(204, 238, 255);padding-bottom:4px;vertical-align:bottom;white-space:nowrap"> <div style="line-height:1.25"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">)</span></span></div> </td> </tr> <tr> <td style="vertical-align:top;width:76%;vertical-align:bottom"> </td> <td colspan="1" style="vertical-align:bottom;width:1%;vertical-align:bottom"> </td> <td colspan="1" style="vertical-align:bottom;width:1%;vertical-align:bottom"> </td> <td colspan="1" style="vertical-align:bottom;text-align:right;width:9%;vertical-align:bottom"> </td> <td colspan="1" style="vertical-align:bottom;width:1%;vertical-align:bottom;white-space:nowrap"> </td> <td colspan="1" style="vertical-align:bottom;width:1%;vertical-align:bottom"> </td> <td colspan="1" style="vertical-align:bottom;width:1%;vertical-align:bottom"> </td> <td colspan="1" style="vertical-align:bottom;text-align:right;width:9%;vertical-align:bottom"> </td> <td colspan="1" style="vertical-align:bottom;width:1%;vertical-align:bottom;white-space:nowrap"> </td> </tr> <tr> <td style="vertical-align:top;width:76%;background-color:rgb(204, 238, 255);padding-bottom:4px;vertical-align:bottom"> <div style="text-align:justify;line-height:1.25"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">Presented in long term deferred tax assets</span></span></div> </td> <td colspan="1" style="vertical-align:bottom;width:1%;background-color:rgb(204, 238, 255);padding-bottom:4px;vertical-align:bottom"> </td> <td colspan="1" style="vertical-align:bottom;width:1%;background-color:rgb(204, 238, 255);border-bottom:4px double rgb(0, 0, 0);vertical-align:bottom"> <div style="line-height:1.25"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">$</span></span></div> </td> <td colspan="1" style="vertical-align:bottom;text-align:right;width:9%;background-color:rgb(204, 238, 255);border-bottom:4px double rgb(0, 0, 0);vertical-align:bottom"> <div style="line-height:1.25"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">13,354</span></span></div> </td> <td colspan="1" style="vertical-align:bottom;width:1%;background-color:rgb(204, 238, 255);padding-bottom:4px;vertical-align:bottom;white-space:nowrap"> </td> <td colspan="1" style="vertical-align:bottom;width:1%;background-color:rgb(204, 238, 255);padding-bottom:4px;vertical-align:bottom"> </td> <td colspan="1" style="vertical-align:bottom;width:1%;background-color:rgb(204, 238, 255);border-bottom:4px double rgb(0, 0, 0);vertical-align:bottom"> <div style="line-height:1.25"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">$</span></span></div> </td> <td colspan="1" style="vertical-align:bottom;text-align:right;width:9%;background-color:rgb(204, 238, 255);border-bottom:4px double rgb(0, 0, 0);vertical-align:bottom"> <div style="line-height:1.25"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">1,768</span></span></div> </td> <td colspan="1" style="vertical-align:bottom;width:1%;background-color:rgb(204, 238, 255);padding-bottom:4px;vertical-align:bottom;white-space:nowrap"> </td> </tr> <tr> <td style="vertical-align:top;width:76%;padding-bottom:4px;vertical-align:bottom"> <div style="text-align:justify;line-height:1.25"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">Presented in long term deferred tax liabilities</span></span></div> </td> <td colspan="1" style="vertical-align:bottom;width:1%;padding-bottom:4px;vertical-align:bottom"> </td> <td colspan="1" style="vertical-align:bottom;width:1%;border-bottom:4px double rgb(0, 0, 0);vertical-align:bottom"> <div style="line-height:1.25"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">$</span></span></div> </td> <td colspan="1" style="vertical-align:bottom;text-align:right;width:9%;border-bottom:4px double rgb(0, 0, 0);vertical-align:bottom"> <div style="line-height:1.25"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">(8,822</span></span></div> </td> <td colspan="1" style="vertical-align:bottom;width:1%;padding-bottom:4px;vertical-align:bottom;white-space:nowrap"> <div style="line-height:1.25"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">)</span></span></div> </td> <td colspan="1" style="vertical-align:bottom;width:1%;padding-bottom:4px;vertical-align:bottom"> </td> <td colspan="1" style="vertical-align:bottom;width:1%;border-bottom:4px double rgb(0, 0, 0);vertical-align:bottom"> <div style="line-height:1.25"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">$</span></span></div> </td> <td colspan="1" style="vertical-align:bottom;text-align:right;width:9%;border-bottom:4px double rgb(0, 0, 0);vertical-align:bottom"> <div style="line-height:1.25"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">(9,055</span></span></div> </td> <td colspan="1" style="vertical-align:bottom;width:1%;padding-bottom:4px;vertical-align:bottom;white-space:nowrap"> <div style="line-height:1.25"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">)</span></span></div> </td> </tr> </table> </div> </div> <div style="line-height:1.25;clear:both"> </div> <div style="line-height:1.25;clear:both"> <div></div> </div> <div style="line-height:1.25"> <div style="line-height:1.25"> <div style="line-height:1.25"> <div style="line-height:1.25"> <div style="line-height:1.25"> <div style="line-height:1.25"> <div style="line-height:1.25"> <div> <div style="text-align:justify;line-height:1.25"> <table border="0" cellpadding="0" cellspacing="0" style="font-family:'Times New Roman', Times, serif;font-size:10pt;color:#000000;width:100%"> <tr> <td style="width:56pt"> <div> </div> </td> <td style="font-weight:bold;width:22pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">D.</span></span></td> <td style="font-weight:bold;width:auto"> <div> <div style="font-weight:bold"> <div style="font-weight:bold"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span style="font-weight:bold">Effective Income Tax</span></span></span></div> </div> </div> </td> </tr> </table><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">        </span></span> <div style="line-height:1.25"> <div style="line-height:1.25"> <div style="line-height:1.25"> <div style="line-height:1.25"> <div style="line-height:1.25"> <div style="line-height:1.25"> <div style="line-height:1.25"> <div> <div style="line-height:1.25"> <table border="0" cellpadding="0" cellspacing="0" style="font-family:'Times New Roman', Times, serif;font-size:10pt;color:#000000;width:100%"> <tr> <td style="width:56pt"> <div> </div> </td> <td style="font-weight:bold;width:22pt"> </td> <td style="font-weight:normal;width:auto"> <div> <div> <div> <div style="text-align:justify;line-height:1.25"> <div style="line-height:1.25"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">The reconciliation of the Israeli statutory income tax rate to the effective tax rate for the years ended December 31, 2025, 2024 and 2023:</span></span></div> </div> </div> </div> </div> </td> </tr> </table><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">        </span></span> </div> </div> </div> </div> </div> </div> </div> </div> </div> </div> </div> </div> </div> </div> </div> </div> </div> </div> <div> <div style="line-height:1.25"> <div style="line-height:1.25"> <div style="line-height:1.25"> <div style="line-height:1.25"> <div style="line-height:1.25"> <div style="line-height:1.25"> <div style="line-height:1.25"> <div> <div style="text-align:justify;line-height:1.25"> <div style="line-height:1.25"> <div style="line-height:1.25"> <div style="line-height:1.25"> <div style="line-height:1.25"> <div style="line-height:1.25"> <div style="line-height:1.25"> <div style="line-height:1.25"> <div> <div style="line-height:1.25"> </div> <div style="line-height:1.25;margin-left:99pt"> <table border="0" cellpadding="0" cellspacing="0" style="width:85%;color:#000000;font-family:'Times New Roman', Times, serif;font-size:10pt;text-align:left"> <tr> <td style="vertical-align:top;font-weight:normal;padding-bottom:2px;vertical-align:bottom"> <div style="line-height:1.25;font-family:'Times New Roman',Times,serif"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">Details</span></span></div> </td> <td colspan="1" style="vertical-align:bottom;padding-bottom:2px;vertical-align:bottom"> </td> <td colspan="2" style="vertical-align:top;border-bottom:#000000 solid 2px;vertical-align:bottom"> <div style="text-align:center;line-height:1.25;font-weight:bold"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">2025</span></span></div> </td> <td colspan="1" style="vertical-align:bottom;padding-bottom:2px;vertical-align:bottom;white-space:nowrap"> </td> <td colspan="1" style="vertical-align:bottom;padding-bottom:2px;vertical-align:bottom"> </td> <td colspan="2" style="vertical-align:top;border-bottom:#000000 solid 2px;vertical-align:bottom"> <div style="text-align:center;line-height:1.25;font-weight:bold"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">Percentages</span></span></div> </td> <td colspan="1" style="vertical-align:bottom;padding-bottom:2px;vertical-align:bottom;white-space:nowrap"> </td> </tr> <tr> <td style="vertical-align:top;width:76%;background-color:rgb(204, 238, 255);vertical-align:bottom"> <div style="line-height:1.25"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">Tax expense computed at statutory rates, see (*) below</span></span></div> </td> <td colspan="1" style="vertical-align:bottom;width:1%;background-color:rgb(204, 238, 255);vertical-align:bottom"> </td> <td colspan="1" style="vertical-align:bottom;width:1%;background-color:rgb(204, 238, 255);vertical-align:bottom"> <div style="line-height:1.25"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">$</span></span></div> </td> <td colspan="1" style="vertical-align:bottom;text-align:right;width:9%;background-color:rgb(204, 238, 255);vertical-align:bottom"> <div style="line-height:1.25"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">55,288</span></span></div> </td> <td colspan="1" style="vertical-align:bottom;width:1%;background-color:rgb(204, 238, 255);vertical-align:bottom;white-space:nowrap"> </td> <td colspan="1" style="vertical-align:bottom;width:1%;background-color:rgb(204, 238, 255);vertical-align:bottom"> </td> <td colspan="1" style="vertical-align:bottom;width:1%;background-color:rgb(204, 238, 255);vertical-align:bottom"> </td> <td colspan="1" style="vertical-align:bottom;text-align:right;width:9%;background-color:rgb(204, 238, 255);vertical-align:bottom"> <div style="line-height:1.25"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">23.0</span></span></div> </td> <td colspan="1" style="vertical-align:bottom;width:1%;background-color:rgb(204, 238, 255);vertical-align:bottom;white-space:nowrap"> <div style="line-height:1.25"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">%</span></span></div> </td> </tr> <tr> <td style="vertical-align:top;width:76%;vertical-align:bottom"> <div style="line-height:1.25"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">Foreign tax effects:</span></span></div> </td> <td colspan="1" style="vertical-align:bottom;width:1%;vertical-align:bottom"> </td> <td colspan="1" style="vertical-align:bottom;width:1%;vertical-align:bottom"> </td> <td colspan="1" style="vertical-align:bottom;text-align:right;width:9%;vertical-align:bottom"> </td> <td colspan="1" style="vertical-align:bottom;width:1%;vertical-align:bottom;white-space:nowrap"> </td> <td colspan="1" style="vertical-align:bottom;width:1%;vertical-align:bottom"> </td> <td colspan="1" style="vertical-align:bottom;width:1%;vertical-align:bottom"> </td> <td colspan="1" style="vertical-align:bottom;text-align:right;width:9%;vertical-align:bottom"> </td> <td colspan="1" style="vertical-align:bottom;width:1%;vertical-align:bottom;white-space:nowrap"> </td> </tr> <tr> <td style="vertical-align:top;width:76%;background-color:rgb(204, 238, 255);vertical-align:bottom"> <div style="text-indent:-27pt;margin-left:39.6pt;line-height:1.25"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span style="text-decoration:underline">U.S</span></span></span></div> </td> <td colspan="1" style="vertical-align:bottom;width:1%;background-color:rgb(204, 238, 255);vertical-align:bottom"> </td> <td colspan="1" style="vertical-align:bottom;width:1%;background-color:rgb(204, 238, 255);vertical-align:bottom"> </td> <td colspan="1" style="vertical-align:bottom;text-align:right;width:9%;background-color:rgb(204, 238, 255);vertical-align:bottom"> </td> <td colspan="1" style="vertical-align:bottom;width:1%;background-color:rgb(204, 238, 255);vertical-align:bottom;white-space:nowrap"> </td> <td colspan="1" style="vertical-align:bottom;width:1%;background-color:rgb(204, 238, 255);vertical-align:bottom"> </td> <td colspan="1" style="vertical-align:bottom;width:1%;background-color:rgb(204, 238, 255);vertical-align:bottom"> </td> <td colspan="1" style="vertical-align:bottom;text-align:right;width:9%;background-color:rgb(204, 238, 255);vertical-align:bottom"> </td> <td colspan="1" style="vertical-align:bottom;width:1%;background-color:rgb(204, 238, 255);vertical-align:bottom;white-space:nowrap"> </td> </tr> <tr> <td style="vertical-align:top;width:76%;vertical-align:bottom"> <div style="text-indent:12.6pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">-      Changes in valuation allowance, see Note 17E below</span></span></div> </td> <td colspan="1" style="vertical-align:bottom;width:1%;vertical-align:bottom"> </td> <td colspan="1" style="vertical-align:bottom;width:1%;vertical-align:bottom"> </td> <td colspan="1" style="vertical-align:bottom;text-align:right;width:9%;vertical-align:bottom"> <div style="line-height:1.25"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">(17,742</span></span></div> </td> <td colspan="1" style="vertical-align:bottom;width:1%;vertical-align:bottom;white-space:nowrap"> <div style="line-height:1.25"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">)</span></span></div> </td> <td colspan="1" style="vertical-align:bottom;width:1%;vertical-align:bottom"> </td> <td colspan="1" style="vertical-align:bottom;width:1%;vertical-align:bottom"> </td> <td colspan="1" style="vertical-align:bottom;text-align:right;width:9%;vertical-align:bottom"> <div style="line-height:1.25"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">(7.4</span></span></div> </td> <td colspan="1" style="vertical-align:bottom;width:1%;vertical-align:bottom;white-space:nowrap"> <div style="line-height:1.25"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">)%</span></span></div> </td> </tr> <tr> <td style="vertical-align:top;width:76%;background-color:rgb(204, 238, 255);vertical-align:bottom"> <div style="line-height:1.25"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">     -       Other adjustments</span></span></div> </td> <td colspan="1" style="vertical-align:bottom;width:1%;background-color:rgb(204, 238, 255);vertical-align:bottom"> </td> <td colspan="1" style="vertical-align:bottom;width:1%;background-color:rgb(204, 238, 255);vertical-align:bottom"> </td> <td colspan="1" style="vertical-align:bottom;text-align:right;width:9%;background-color:rgb(204, 238, 255);vertical-align:bottom"> <div style="line-height:1.25"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">(3,761</span></span></div> </td> <td colspan="1" style="vertical-align:bottom;width:1%;background-color:rgb(204, 238, 255);vertical-align:bottom;white-space:nowrap"> <div style="line-height:1.25"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">)</span></span></div> </td> <td colspan="1" style="vertical-align:bottom;width:1%;background-color:rgb(204, 238, 255);vertical-align:bottom"> </td> <td colspan="1" style="vertical-align:bottom;width:1%;background-color:rgb(204, 238, 255);vertical-align:bottom"> </td> <td colspan="1" style="vertical-align:bottom;text-align:right;width:9%;background-color:rgb(204, 238, 255);vertical-align:bottom"> <div style="line-height:1.25"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">(1.6</span></span></div> </td> <td colspan="1" style="vertical-align:bottom;width:1%;background-color:rgb(204, 238, 255);vertical-align:bottom;white-space:nowrap"> <div style="line-height:1.25"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">)%</span></span></div> </td> </tr> <tr> <td style="vertical-align:top;width:76%;vertical-align:bottom"> <div style="margin-left:12.6pt;line-height:1.25"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">Italy</span></span></div> </td> <td colspan="1" style="vertical-align:bottom;width:1%;vertical-align:bottom"> </td> <td colspan="1" style="vertical-align:bottom;width:1%;vertical-align:bottom"> </td> <td colspan="1" style="vertical-align:bottom;text-align:right;width:9%;vertical-align:bottom"> </td> <td colspan="1" style="vertical-align:bottom;width:1%;vertical-align:bottom;white-space:nowrap"> </td> <td colspan="1" style="vertical-align:bottom;width:1%;vertical-align:bottom"> </td> <td colspan="1" style="vertical-align:bottom;width:1%;vertical-align:bottom"> </td> <td colspan="1" style="vertical-align:bottom;text-align:right;width:9%;vertical-align:bottom"> </td> <td colspan="1" style="vertical-align:bottom;width:1%;vertical-align:bottom;white-space:nowrap"> </td> </tr> <tr> <td style="vertical-align:top;width:76%;background-color:rgb(204, 238, 255);vertical-align:bottom"> <div style="text-indent:12.6pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">-       Changes in valuation allowance, see Note 17E below</span></span></div> </td> <td colspan="1" style="vertical-align:bottom;width:1%;background-color:rgb(204, 238, 255);vertical-align:bottom"> </td> <td colspan="1" style="vertical-align:bottom;width:1%;background-color:rgb(204, 238, 255);vertical-align:bottom"> </td> <td colspan="1" style="vertical-align:bottom;text-align:right;width:9%;background-color:rgb(204, 238, 255);vertical-align:bottom"> <div style="line-height:1.25"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">10,651</span></span></div> </td> <td colspan="1" style="vertical-align:bottom;width:1%;background-color:rgb(204, 238, 255);vertical-align:bottom;white-space:nowrap"> </td> <td colspan="1" style="vertical-align:bottom;width:1%;background-color:rgb(204, 238, 255);vertical-align:bottom"> </td> <td colspan="1" style="vertical-align:bottom;width:1%;background-color:rgb(204, 238, 255);vertical-align:bottom"> </td> <td colspan="1" style="vertical-align:bottom;text-align:right;width:9%;background-color:rgb(204, 238, 255);vertical-align:bottom"> <div style="line-height:1.25"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">4.4</span></span></div> </td> <td colspan="1" style="vertical-align:bottom;width:1%;background-color:rgb(204, 238, 255);vertical-align:bottom;white-space:nowrap"> <div style="line-height:1.25"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">%</span></span></div> </td> </tr> <tr> <td style="vertical-align:top;width:76%;vertical-align:bottom"> <div style="text-indent:12.6pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">-       Foreign currency translation impact</span></span></div> </td> <td colspan="1" style="vertical-align:bottom;width:1%;vertical-align:bottom"> </td> <td colspan="1" style="vertical-align:bottom;width:1%;vertical-align:bottom"> </td> <td colspan="1" style="vertical-align:bottom;text-align:right;width:9%;vertical-align:bottom"> <div style="line-height:1.25"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">(8,061</span></span></div> </td> <td colspan="1" style="vertical-align:bottom;width:1%;vertical-align:bottom;white-space:nowrap"> <div style="line-height:1.25"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">)</span></span></div> </td> <td colspan="1" style="vertical-align:bottom;width:1%;vertical-align:bottom"> </td> <td colspan="1" style="vertical-align:bottom;width:1%;vertical-align:bottom"> </td> <td colspan="1" style="vertical-align:bottom;text-align:right;width:9%;vertical-align:bottom"> <div style="line-height:1.25"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">(3.4</span></span></div> </td> <td colspan="1" style="vertical-align:bottom;width:1%;vertical-align:bottom;white-space:nowrap"> <div style="line-height:1.25"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">)%</span></span></div> </td> </tr> <tr> <td style="vertical-align:top;width:76%;background-color:rgb(204, 238, 255);vertical-align:bottom"> <div style="line-height:1.25"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">      -       Other adjustments</span></span></div> </td> <td colspan="1" style="vertical-align:bottom;width:1%;background-color:rgb(204, 238, 255);vertical-align:bottom"> </td> <td colspan="1" style="vertical-align:bottom;width:1%;background-color:rgb(204, 238, 255);vertical-align:bottom"> </td> <td colspan="1" style="vertical-align:bottom;text-align:right;width:9%;background-color:rgb(204, 238, 255);vertical-align:bottom"> <div style="line-height:1.25"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">(87</span></span></div> </td> <td colspan="1" style="vertical-align:bottom;width:1%;background-color:rgb(204, 238, 255);vertical-align:bottom;white-space:nowrap"> <div style="line-height:1.25"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">)</span></span></div> </td> <td colspan="1" style="vertical-align:bottom;width:1%;background-color:rgb(204, 238, 255);vertical-align:bottom"> </td> <td colspan="1" style="vertical-align:bottom;width:1%;background-color:rgb(204, 238, 255);vertical-align:bottom"> </td> <td colspan="1" style="vertical-align:bottom;text-align:right;width:9%;background-color:rgb(204, 238, 255);vertical-align:bottom"> <div style="line-height:1.25"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">0</span></span></div> </td> <td colspan="1" style="vertical-align:bottom;width:1%;background-color:rgb(204, 238, 255);vertical-align:bottom;white-space:nowrap"> <div style="line-height:1.25"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">%</span></span></div> </td> </tr> <tr> <td style="vertical-align:top;width:76%;vertical-align:bottom"> <div style="margin-left:12.6pt;line-height:1.25"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">Other jurisdictions</span></span></div> </td> <td colspan="1" style="vertical-align:bottom;width:1%;vertical-align:bottom"> </td> <td colspan="1" style="vertical-align:bottom;width:1%;vertical-align:bottom"> </td> <td colspan="1" style="vertical-align:bottom;text-align:right;width:9%;vertical-align:bottom"> <div style="line-height:1.25"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">820</span></span></div> </td> <td colspan="1" style="vertical-align:bottom;width:1%;vertical-align:bottom;white-space:nowrap"> </td> <td colspan="1" style="vertical-align:bottom;width:1%;vertical-align:bottom"> </td> <td colspan="1" style="vertical-align:bottom;width:1%;vertical-align:bottom"> </td> <td colspan="1" style="vertical-align:bottom;text-align:right;width:9%;vertical-align:bottom"> <div style="line-height:1.25"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">0.3</span></span></div> </td> <td colspan="1" style="vertical-align:bottom;width:1%;vertical-align:bottom;white-space:nowrap"> <div style="line-height:1.25"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">%</span></span></div> </td> </tr> <tr> <td style="vertical-align:top;width:76%;background-color:rgb(204, 238, 255);vertical-align:bottom"> <div style="line-height:1.25"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">Nontaxable or nondeductible items</span></span></div> </td> <td colspan="1" style="vertical-align:bottom;width:1%;background-color:rgb(204, 238, 255);vertical-align:bottom"> </td> <td colspan="1" style="vertical-align:bottom;width:1%;background-color:rgb(204, 238, 255);vertical-align:bottom"> </td> <td colspan="1" style="vertical-align:bottom;text-align:right;width:9%;background-color:rgb(204, 238, 255);vertical-align:bottom"> <div style="line-height:1.25"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">264</span></span></div> </td> <td colspan="1" style="vertical-align:bottom;width:1%;background-color:rgb(204, 238, 255);vertical-align:bottom;white-space:nowrap"> </td> <td colspan="1" style="vertical-align:bottom;width:1%;background-color:rgb(204, 238, 255);vertical-align:bottom"> </td> <td colspan="1" style="vertical-align:bottom;width:1%;background-color:rgb(204, 238, 255);vertical-align:bottom"> </td> <td colspan="1" style="vertical-align:bottom;text-align:right;width:9%;background-color:rgb(204, 238, 255);vertical-align:bottom"> <div style="line-height:1.25"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">0.1</span></span></div> </td> <td colspan="1" style="vertical-align:bottom;width:1%;background-color:rgb(204, 238, 255);vertical-align:bottom;white-space:nowrap"> <div style="line-height:1.25"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">%</span></span></div> </td> </tr> <tr> <td style="vertical-align:top;width:76%;vertical-align:bottom"> <div style="line-height:1.25"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">Changes in unrecognized tax benefits, see (**) below</span></span></div> </td> <td colspan="1" style="vertical-align:bottom;width:1%;vertical-align:bottom"> </td> <td colspan="1" style="vertical-align:bottom;width:1%;vertical-align:bottom"> </td> <td colspan="1" style="vertical-align:bottom;text-align:right;width:9%;vertical-align:bottom"> <div style="line-height:1.25"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">16,870</span></span></div> </td> <td colspan="1" style="vertical-align:bottom;width:1%;vertical-align:bottom;white-space:nowrap"> </td> <td colspan="1" style="vertical-align:bottom;width:1%;vertical-align:bottom"> </td> <td colspan="1" style="vertical-align:bottom;width:1%;vertical-align:bottom"> </td> <td colspan="1" style="vertical-align:bottom;text-align:right;width:9%;vertical-align:bottom"> <div style="line-height:1.25"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">7.0</span></span></div> </td> <td colspan="1" style="vertical-align:bottom;width:1%;vertical-align:bottom;white-space:nowrap"> <div style="line-height:1.25"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">%</span></span></div> </td> </tr> <tr> <td style="vertical-align:top;width:76%;padding-bottom:2px;background-color:rgb(204, 238, 255);vertical-align:bottom"> <div style="line-height:1.25"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">Preferred Enterprise benefit in Israel</span></span></div> </td> <td colspan="1" style="vertical-align:bottom;width:1%;padding-bottom:2px;background-color:rgb(204, 238, 255);vertical-align:bottom"> </td> <td colspan="1" style="vertical-align:bottom;width:1%;border-bottom:2px solid rgb(0, 0, 0);background-color:rgb(204, 238, 255);vertical-align:bottom"> </td> <td colspan="1" style="vertical-align:bottom;text-align:right;width:9%;border-bottom:2px solid rgb(0, 0, 0);background-color:rgb(204, 238, 255);vertical-align:bottom"> <div style="line-height:1.25"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">(32,673</span></span></div> </td> <td colspan="1" style="vertical-align:bottom;width:1%;padding-bottom:2px;background-color:rgb(204, 238, 255);vertical-align:bottom;white-space:nowrap"> <div style="line-height:1.25"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">)</span></span></div> </td> <td colspan="1" style="vertical-align:bottom;width:1%;padding-bottom:2px;background-color:rgb(204, 238, 255);vertical-align:bottom"> </td> <td colspan="1" style="vertical-align:bottom;width:1%;border-bottom:2px solid rgb(0, 0, 0);background-color:rgb(204, 238, 255);vertical-align:bottom"> </td> <td colspan="1" style="vertical-align:bottom;text-align:right;width:9%;border-bottom:2px solid rgb(0, 0, 0);background-color:rgb(204, 238, 255);vertical-align:bottom"> <div style="line-height:1.25"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">(13.6</span></span></div> </td> <td colspan="1" style="vertical-align:bottom;width:1%;padding-bottom:2px;background-color:rgb(204, 238, 255);vertical-align:bottom;white-space:nowrap"> <div style="line-height:1.25"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">)%</span></span></div> </td> </tr> <tr> <td style="vertical-align:top;width:76%;padding-bottom:4px;vertical-align:bottom"> <div style="line-height:1.25"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">Income tax expense</span></span></div> </td> <td colspan="1" style="vertical-align:bottom;width:1%;padding-bottom:4px;vertical-align:bottom"> </td> <td colspan="1" style="vertical-align:bottom;width:1%;border-bottom:4px double rgb(0, 0, 0);vertical-align:bottom"> <div style="line-height:1.25"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">$</span></span></div> </td> <td colspan="1" style="vertical-align:bottom;text-align:right;width:9%;border-bottom:4px double rgb(0, 0, 0);vertical-align:bottom"> <div style="line-height:1.25"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">21,569</span></span></div> </td> <td colspan="1" style="vertical-align:bottom;width:1%;padding-bottom:4px;vertical-align:bottom;white-space:nowrap"> </td> <td colspan="1" style="vertical-align:bottom;width:1%;padding-bottom:4px;vertical-align:bottom"> </td> <td colspan="1" style="vertical-align:bottom;width:1%;border-bottom:4px double rgb(0, 0, 0);vertical-align:bottom"> </td> <td colspan="1" style="vertical-align:bottom;text-align:right;width:9%;border-bottom:4px double rgb(0, 0, 0);vertical-align:bottom"> <div style="line-height:1.25"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">8.8</span></span></div> </td> <td colspan="1" style="vertical-align:bottom;width:1%;padding-bottom:4px;vertical-align:bottom;white-space:nowrap"> <div style="line-height:1.25"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">%</span></span></div> </td> </tr> </table> </div> <div style="line-height:1.25"> </div> </div> </div> </div> </div> </div> </div> </div> </div> </div> </div> </div> </div> </div> </div> </div> </div> </div> <div style="margin-left:99pt"> <table border="0" cellpadding="0" cellspacing="0" style="width:85%;color:#000000;font-family:'Times New Roman', Times, serif;font-size:10pt;text-align:left"> <tr> <td style="vertical-align:middle;padding-bottom:2px;vertical-align:bottom"> <div style="text-align:justify;line-height:1.25"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">Details</span></span></div> </td> <td colspan="1" style="vertical-align:bottom;padding-bottom:2px;vertical-align:bottom"> </td> <td colspan="2" style="vertical-align:middle;border-bottom:#000000 solid 2px;vertical-align:bottom"> <div style="text-align:center;line-height:1.25"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">2024</span></span></div> </td> <td colspan="1" style="vertical-align:bottom;padding-bottom:2px;vertical-align:bottom;white-space:nowrap"> </td> <td colspan="1" style="vertical-align:bottom;padding-bottom:2px;vertical-align:bottom"> </td> <td colspan="2" style="vertical-align:middle;border-bottom:#000000 solid 2px;vertical-align:bottom"> <div style="text-align:center;line-height:1.25"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">2023</span></span></div> </td> <td colspan="1" style="vertical-align:bottom;padding-bottom:2px;vertical-align:bottom;white-space:nowrap"> </td> </tr> <tr> <td style="vertical-align:top;width:76%;background-color:rgb(204, 238, 255);vertical-align:bottom"> <div style="line-height:1.25"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">Tax expense computed at statutory rates, see (*) below</span></span></div> </td> <td colspan="1" style="vertical-align:bottom;width:1%;background-color:rgb(204, 238, 255);vertical-align:bottom"> </td> <td colspan="1" style="vertical-align:bottom;width:1%;background-color:rgb(204, 238, 255);vertical-align:bottom"> <div style="line-height:1.25"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">$</span></span></div> </td> <td colspan="1" style="vertical-align:bottom;text-align:right;width:9%;background-color:rgb(204, 238, 255);vertical-align:bottom"> <div style="line-height:1.25"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">50,008</span></span></div> </td> <td colspan="1" style="vertical-align:bottom;width:1%;background-color:rgb(204, 238, 255);vertical-align:bottom;white-space:nowrap"> </td> <td colspan="1" style="vertical-align:bottom;width:1%;background-color:rgb(204, 238, 255);vertical-align:bottom"> </td> <td colspan="1" style="vertical-align:bottom;width:1%;background-color:rgb(204, 238, 255);vertical-align:bottom"> <div style="line-height:1.25"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">$</span></span></div> </td> <td colspan="1" style="vertical-align:bottom;text-align:right;width:9%;background-color:rgb(204, 238, 255);vertical-align:bottom"> <div style="line-height:1.25"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">134,514</span></span></div> </td> <td colspan="1" style="vertical-align:bottom;width:1%;background-color:rgb(204, 238, 255);vertical-align:bottom;white-space:nowrap"> </td> </tr> <tr> <td style="vertical-align:top;width:76%;vertical-align:bottom"> <div style="line-height:1.25"> <div style="line-height:1.25;font-family:'Times New Roman',Times,serif"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">Effect of different tax rates in different jurisdictions and Preferred Enterprise Benefit in Israel</span></span></div> </div> </td> <td colspan="1" style="vertical-align:bottom;width:1%;vertical-align:bottom"> </td> <td colspan="1" style="vertical-align:bottom;width:1%;vertical-align:bottom"> </td> <td colspan="1" style="vertical-align:bottom;text-align:right;width:9%;vertical-align:bottom"> <div style="line-height:1.25"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">(36,588</span></span></div> </td> <td colspan="1" style="vertical-align:bottom;width:1%;vertical-align:bottom;white-space:nowrap"> <div style="line-height:1.25"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">)</span></span></div> </td> <td colspan="1" style="vertical-align:bottom;width:1%;vertical-align:bottom"> </td> <td colspan="1" style="vertical-align:bottom;width:1%;vertical-align:bottom"> </td> <td colspan="1" style="vertical-align:bottom;text-align:right;width:9%;vertical-align:bottom"> <div style="line-height:1.25"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">(89,487</span></span></div> </td> <td colspan="1" style="vertical-align:bottom;width:1%;vertical-align:bottom;white-space:nowrap"> <div style="line-height:1.25"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">)</span></span></div> </td> </tr> <tr> <td style="vertical-align:bottom;width:76%;background-color:rgb(204, 238, 255);vertical-align:bottom"> <div style="line-height:1.25"> <div style="line-height:1.25;font-family:'Times New Roman',Times,serif"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">Change in valuation allowance, see Note 17E below</span></span></div> </div> </td> <td colspan="1" style="vertical-align:bottom;width:1%;background-color:rgb(204, 238, 255);vertical-align:bottom"> </td> <td colspan="1" style="vertical-align:bottom;width:1%;background-color:rgb(204, 238, 255);vertical-align:bottom"> </td> <td colspan="1" style="vertical-align:bottom;text-align:right;width:9%;background-color:rgb(204, 238, 255);vertical-align:bottom"> <div style="line-height:1.25"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">11,375</span></span></div> </td> <td colspan="1" style="vertical-align:bottom;width:1%;background-color:rgb(204, 238, 255);vertical-align:bottom;white-space:nowrap"> </td> <td colspan="1" style="vertical-align:bottom;width:1%;background-color:rgb(204, 238, 255);vertical-align:bottom"> </td> <td colspan="1" style="vertical-align:bottom;width:1%;background-color:rgb(204, 238, 255);vertical-align:bottom"> </td> <td colspan="1" style="vertical-align:bottom;text-align:right;width:9%;background-color:rgb(204, 238, 255);vertical-align:bottom"> <div style="line-height:1.25"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">2,697</span></span></div> </td> <td colspan="1" style="vertical-align:bottom;width:1%;background-color:rgb(204, 238, 255);vertical-align:bottom;white-space:nowrap"> </td> </tr> <tr> <td style="vertical-align:bottom;width:76%;padding-bottom:2px;vertical-align:bottom"> <div style="line-height:1.25"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">Permanent differences and other, net</span></span></div> </td> <td colspan="1" style="vertical-align:bottom;width:1%;padding-bottom:2px;vertical-align:bottom"> </td> <td colspan="1" style="vertical-align:bottom;width:1%;border-bottom:2px solid rgb(0, 0, 0);vertical-align:bottom"> </td> <td colspan="1" style="vertical-align:bottom;text-align:right;width:9%;border-bottom:2px solid rgb(0, 0, 0);vertical-align:bottom"> <div style="line-height:1.25"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">(14,590</span></span></div> </td> <td colspan="1" style="vertical-align:bottom;width:1%;padding-bottom:2px;vertical-align:bottom;white-space:nowrap"> <div style="line-height:1.25"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">)</span></span></div> </td> <td colspan="1" style="vertical-align:bottom;width:1%;padding-bottom:2px;vertical-align:bottom"> </td> <td colspan="1" style="vertical-align:bottom;width:1%;border-bottom:2px solid rgb(0, 0, 0);vertical-align:bottom"> </td> <td colspan="1" style="vertical-align:bottom;text-align:right;width:9%;border-bottom:2px solid rgb(0, 0, 0);vertical-align:bottom"> <div style="line-height:1.25"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">17,588</span></span></div> </td> <td colspan="1" style="vertical-align:bottom;width:1%;padding-bottom:2px;vertical-align:bottom;white-space:nowrap"> </td> </tr> <tr> <td style="vertical-align:top;width:76%;padding-bottom:4px;background-color:rgb(204, 238, 255);vertical-align:bottom"> <div style="line-height:1.25"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">Income tax expense</span></span></div> </td> <td colspan="1" style="vertical-align:bottom;width:1%;padding-bottom:4px;background-color:rgb(204, 238, 255);vertical-align:bottom"> </td> <td colspan="1" style="vertical-align:bottom;width:1%;border-bottom:4px double rgb(0, 0, 0);background-color:rgb(204, 238, 255);vertical-align:bottom"> <div style="line-height:1.25"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">$</span></span></div> </td> <td colspan="1" style="vertical-align:bottom;text-align:right;width:9%;border-bottom:4px double rgb(0, 0, 0);background-color:rgb(204, 238, 255);vertical-align:bottom"> <div style="line-height:1.25"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">10,205</span></span></div> </td> <td colspan="1" style="vertical-align:bottom;width:1%;padding-bottom:4px;background-color:rgb(204, 238, 255);vertical-align:bottom;white-space:nowrap"> </td> <td colspan="1" style="vertical-align:bottom;width:1%;padding-bottom:4px;background-color:rgb(204, 238, 255);vertical-align:bottom"> </td> <td colspan="1" style="vertical-align:bottom;width:1%;border-bottom:4px double rgb(0, 0, 0);background-color:rgb(204, 238, 255);vertical-align:bottom"> <div style="line-height:1.25"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">$</span></span></div> </td> <td colspan="1" style="vertical-align:bottom;text-align:right;width:9%;border-bottom:4px double rgb(0, 0, 0);background-color:rgb(204, 238, 255);vertical-align:bottom"> <div style="line-height:1.25"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">65,312</span></span></div> </td> <td colspan="1" style="vertical-align:bottom;width:1%;padding-bottom:4px;background-color:rgb(204, 238, 255);vertical-align:bottom;white-space:nowrap"> </td> </tr> </table> </div> </div> <div style="line-height:1.25;clear:both"> </div> <div style="line-height:1.25"> <div style="line-height:1.25"> <div style="line-height:1.25"> <div style="line-height:1.25"> <div style="line-height:1.25"> <div style="line-height:1.25"> <div style="line-height:1.25"> <div style="line-height:1.25"> <div> <div style="text-align:justify;line-height:1.25"> <table border="0" cellpadding="0" cellspacing="0" style="font-family:'Times New Roman', Times, serif;font-size:10pt;color:#000000;width:100%;width:100%"> <tr> <td style="width:56pt"> <div> </div> </td> <td style="font-weight:bold;width:22pt"> </td> <td style="font-weight:normal;width:auto"> <div> <div> <div> <div style="text-align:justify;line-height:1.25"> <div style="line-height:1.25"> <div style="line-height:1.25"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">(*)   The tax expense was computed based on the Israeli statutory corporate income tax rate of 23%.</span></span></div> </div> </div> </div> </div> </div> </td> </tr> </table><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">        </span></span> <table border="0" cellpadding="0" cellspacing="0" style="font-family:'Times New Roman', Times, serif;font-size:10pt;color:#000000;width:100%"> <tr> <td style="width:56pt"> <div> </div> </td> <td style="font-weight:bold;width:22pt"> </td> <td style="font-weight:normal;width:auto"> <div style="text-align:justify"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">(**) The amount is comprised substantially from additions for tax positions relating to prior years.</span></span></div> </td> </tr> </table> <p style="margin-top:0pt;margin-bottom:0pt"> </p> </div> </div> </div> </div> </div> </div> </div> </div> </div> </div> <div style="line-height:1.25"> <div></div> <div style="line-height:1.25"> <div style="line-height:1.25"> <div style="line-height:1.25"> <div style="line-height:1.25"> <div style="line-height:1.25"> <div style="line-height:1.25"> <div> <div style="text-align:justify;line-height:1.25"> <table border="0" cellpadding="0" cellspacing="0" style="font-family:'Times New Roman', Times, serif;font-size:10pt;color:#000000;width:100%"> <tr> <td style="width:56pt"> <div> </div> </td> <td style="font-weight:bold;width:22pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">E.</span></span></td> <td style="font-weight:bold;width:auto"> <div> <div style="font-weight:bold"> <div style="font-weight:bold"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span style="font-weight:bold">Net Operating Loss Carryforward</span></span></span></div> </div> </div> </td> </tr> </table><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">        </span></span> </div> </div> </div> </div> </div> </div> </div> </div> </div> <div style="line-height:1.25"> <div style="line-height:1.25"> <div style="line-height:1.25"> <div style="line-height:1.25"> <div style="line-height:1.25"> <div style="line-height:1.25"> <div style="line-height:1.25"> <div style="line-height:1.25"> <div> <div style="text-align:justify;line-height:1.25"> <table border="0" cellpadding="0" cellspacing="0" style="font-family:'Times New Roman', Times, serif;font-size:10pt;color:#000000;width:100%"> <tr> <td style="width:56pt"> <div> </div> </td> <td style="font-weight:bold;width:22pt"> </td> <td style="font-weight:normal;width:auto"> <div> <div> <div> <div style="text-align:justify;line-height:1.25"> <div style="line-height:1.25"> <div style="line-height:1.25;font-family:'Times New Roman',Times,serif"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">As of December 31, 2025, Tower had no net operating loss carryforward.</span></span></div> <div style="line-height:1.25"> </div> <div style="line-height:1.25;font-family:'Times New Roman',Times,serif"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">As of December 31, 2025, Tower US Holdings had U.S. federal net operating loss carryforwards of approximately $31,000 of which approximately $22,000 does not expire and is subject to an annual taxable income limitation of 80%. The remaining federal tax loss carryforward of $9,000 will expire in 2028, unless previously utilized.</span></span></div> <div style="line-height:1.25"> </div> <div style="line-height:1.25;font-family:'Times New Roman',Times,serif"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">As of December 31, 2025, Tower US Holdings had a California state net operating loss carryforward of approximately $9,000. The state tax loss carryforward will begin to expire in 2029, unless previously utilized.</span></span></div> <div style="line-height:1.25"> </div> <div style="line-height:1.25;font-family:'Times New Roman',Times,serif"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">Tower US Holdings recorded a valuation allowance thereby reducing the federal deferred tax asset balances as of December 31, 2024 and 2023. The valuation allowance was released as of December 31, 2025, re-establishing deferred tax assets balances.</span></span></div> <div style="line-height:1.25"> </div> <div style="line-height:1.25;font-family:'Times New Roman',Times,serif"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">Tower US Holdings recorded a valuation allowance thereby reducing the state deferred tax asset balances as of December 31, 2025, 2024 and 2023.</span></span></div> <div style="line-height:1.25"> </div> <div style="line-height:1.25;font-family:'Times New Roman',Times,serif"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">As of December 31, 2025 TPSCo had immaterial net operating loss carryforward.</span></span></div> <div style="line-height:1.25"> </div> <div style="line-height:1.25;font-family:'Times New Roman',Times,serif"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">As of December 31, 2025, TSIT had net operating loss carryforward of approximately $13,000.</span></span></div> <div style="line-height:1.25"> </div> <div style="line-height:1.25;font-family:'Times New Roman',Times,serif"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">TSIT has recorded a valuation allowance thereby reducing the deferred tax asset balance of the net operating loss carryforward.</span></span></div> </div> </div> </div> </div> </div> </td> </tr> </table><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">        </span></span> </div> </div> </div> </div> </div> </div> </div> </div> </div> </div> <div style="line-height:1.25"> <div style="line-height:1.25"> <div style="line-height:1.25"> <div style="line-height:1.25"> <div style="line-height:1.25"> <div style="line-height:1.25"> <div style="line-height:1.25"> <div> <div style="text-align:justify;line-height:1.25"> <table border="0" cellpadding="0" cellspacing="0" style="font-family:'Times New Roman', Times, serif;font-size:10pt;color:#000000;width:100%"> <tr> <td style="width:56pt"> <div> </div> </td> <td style="font-weight:bold;width:22pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">F.</span></span></td> <td style="font-weight:bold;width:auto"> <div> <div style="font-weight:bold"> <div style="font-weight:bold"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span style="font-weight:bold">Final Tax Assessments</span></span></span></div> </div> </div> </td> </tr> </table><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">        </span></span> </div> </div> </div> </div> </div> </div> </div> </div> </div> <div style="line-height:1.25"> <div style="line-height:1.25"> <div style="line-height:1.25"> <div style="line-height:1.25"> <div style="line-height:1.25"> <div style="line-height:1.25"> <div style="line-height:1.25"> <div style="line-height:1.25"> <div> <div style="text-align:justify;line-height:1.25"> <table border="0" cellpadding="0" cellspacing="0" style="font-family:'Times New Roman', Times, serif;font-size:10pt;color:#000000;width:100%"> <tr> <td style="width:56pt"> <div> </div> </td> <td style="font-weight:bold;width:22pt"> </td> <td style="font-weight:normal;width:auto"> <div> <div> <div> <div style="text-align:justify;line-height:1.25"> <div style="line-height:1.25"> <div style="line-height:1.25"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">Tower possesses final tax assessments through the year 2021.</span></span></div> <div style="line-height:1.25"> </div> <div style="line-height:1.25"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">Tower US Holdings files a consolidated tax return, including TSNB and TSSA. Tower US Holdings and its subsidiaries are subject to U.S. federal income tax as well as income tax in multiple states.</span></span></div> <div> </div> <div style="line-height:1.25"> <div style="line-height:1.25;font-family:'Times New Roman',Times,serif"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">In general, Tower US Holdings is no longer subject to U.S. federal income tax examinations for any of the years before 2021 and state and other U.S. local income tax examinations for any of the years before 2020. However, to the extent allowed by law, the tax authorities may have the right to examine prior periods where net operating losses were generated and carried forward and to make adjustments up to the amount of the net operating loss carryforward amount.</span></span></div> </div> <div style="line-height:1.25"> </div> <div style="line-height:1.25"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">TPSCo possesses final income tax assessments through the year 2020.</span></span></div> <div style="line-height:1.25"> </div> <div style="line-height:1.25"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">TSIT possesses no final income tax assessments.</span></span></div> </div> </div> </div> </div> </div> </td> </tr> </table> </div> </div> </div> </div> </div> </div> </div> </div> </div> </div> </div> 0.075 0.23 In December 2021, the OECD issued the Pillar Two model rules, which introduce a 15% global minimum tax applicable on a jurisdiction-by-jurisdiction basis to multinational corporations with consolidated annual revenue exceeding €750 million. <div> <div style="margin-left:99pt"> <table border="0" cellpadding="0" cellspacing="0" style="width:85%;color:#000000;font-family:'Times New Roman', Times, serif;font-size:10pt;text-align:left"> <tr> <td style="vertical-align:middle;padding-bottom:2px;vertical-align:bottom"> <div style="text-align:justify;line-height:1.25"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">Details</span></span></div> </td> <td colspan="1" style="vertical-align:bottom;padding-bottom:2px;vertical-align:bottom"> </td> <td colspan="2" style="vertical-align:middle;border-bottom:#000000 solid 2px;vertical-align:bottom"> <div style="text-align:center;line-height:1.25"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">2025</span></span></div> </td> <td colspan="1" style="vertical-align:bottom;padding-bottom:2px;vertical-align:bottom;white-space:nowrap"> </td> <td colspan="1" style="vertical-align:bottom;padding-bottom:2px;vertical-align:bottom"> </td> <td colspan="2" style="vertical-align:middle;border-bottom:#000000 solid 2px;vertical-align:bottom"> <div style="text-align:center;line-height:1.25"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">2024</span></span></div> </td> <td colspan="1" style="vertical-align:bottom;padding-bottom:2px;vertical-align:bottom;white-space:nowrap"> </td> <td colspan="1" style="vertical-align:bottom;padding-bottom:2px;vertical-align:bottom"> </td> <td colspan="2" style="vertical-align:middle;border-bottom:#000000 solid 2px;vertical-align:bottom"> <div style="text-align:center;line-height:1.25"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">2023</span></span></div> </td> <td colspan="1" style="vertical-align:bottom;padding-bottom:2px;vertical-align:bottom;white-space:nowrap"> </td> </tr> <tr> <td style="vertical-align:middle;background-color:rgb(204, 238, 255);vertical-align:bottom"> <div style="text-align:justify;line-height:1.25"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">Current tax expense:</span></span></div> </td> <td colspan="1" style="vertical-align:bottom;background-color:rgb(204, 238, 255);vertical-align:bottom"> </td> <td colspan="2" style="vertical-align:middle;background-color:rgb(204, 238, 255);vertical-align:bottom"> </td> <td colspan="1" style="vertical-align:bottom;background-color:rgb(204, 238, 255);vertical-align:bottom;white-space:nowrap"> </td> <td colspan="1" style="vertical-align:bottom;background-color:rgb(204, 238, 255);vertical-align:bottom"> </td> <td colspan="2" style="vertical-align:middle;background-color:rgb(204, 238, 255);vertical-align:bottom"> </td> <td colspan="1" style="vertical-align:bottom;background-color:rgb(204, 238, 255);vertical-align:bottom;white-space:nowrap"> </td> <td colspan="1" style="vertical-align:bottom;background-color:rgb(204, 238, 255);vertical-align:bottom"> </td> <td colspan="2" style="vertical-align:middle;background-color:rgb(204, 238, 255);vertical-align:bottom"> </td> <td colspan="1" style="vertical-align:bottom;background-color:rgb(204, 238, 255);vertical-align:bottom;white-space:nowrap"> </td> </tr> <tr> <td style="vertical-align:middle;width:64%;vertical-align:bottom"> <div style="text-align:justify;line-height:1.25;margin-left:9pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">Local</span></span></div> </td> <td colspan="1" style="vertical-align:bottom;width:1%;vertical-align:bottom"> </td> <td colspan="1" style="vertical-align:bottom;width:1%;vertical-align:bottom"> <div style="line-height:1.25"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">$</span></span></div> </td> <td colspan="1" style="vertical-align:bottom;text-align:right;width:9%;vertical-align:bottom"> <div style="line-height:1.25"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">14,181</span></span></div> </td> <td colspan="1" style="vertical-align:bottom;width:1%;vertical-align:bottom;white-space:nowrap"> </td> <td colspan="1" style="vertical-align:bottom;width:1%;vertical-align:bottom"> </td> <td colspan="1" style="vertical-align:bottom;width:1%;vertical-align:bottom"> <div style="line-height:1.25"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">$</span></span></div> </td> <td colspan="1" style="vertical-align:bottom;text-align:right;width:9%;vertical-align:bottom"> <div style="line-height:1.25"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">17,431</span></span></div> </td> <td colspan="1" style="vertical-align:bottom;width:1%;vertical-align:bottom;white-space:nowrap"> </td> <td colspan="1" style="vertical-align:bottom;width:1%;vertical-align:bottom"> </td> <td colspan="1" style="vertical-align:bottom;width:1%;vertical-align:bottom"> <div style="line-height:1.25"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">$</span></span></div> </td> <td colspan="1" style="vertical-align:bottom;text-align:right;width:9%;vertical-align:bottom"> <div style="line-height:1.25"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">-</span></span></div> </td> <td colspan="1" style="vertical-align:bottom;width:1%;vertical-align:bottom;white-space:nowrap"> </td> </tr> <tr> <td style="vertical-align:top;width:64%;background-color:rgb(204, 238, 255);vertical-align:bottom"> <div style="text-align:justify;line-height:1.25;margin-left:9pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">Foreign</span></span></div> </td> <td colspan="1" style="vertical-align:bottom;width:1%;background-color:rgb(204, 238, 255);vertical-align:bottom"> </td> <td colspan="1" style="vertical-align:bottom;width:1%;background-color:rgb(204, 238, 255);vertical-align:bottom"> </td> <td colspan="1" style="vertical-align:bottom;text-align:right;width:9%;background-color:rgb(204, 238, 255);vertical-align:bottom"> <div style="line-height:1.25"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">2,392</span></span></div> </td> <td colspan="1" style="vertical-align:bottom;width:1%;background-color:rgb(204, 238, 255);vertical-align:bottom;white-space:nowrap"> </td> <td colspan="1" style="vertical-align:bottom;width:1%;background-color:rgb(204, 238, 255);vertical-align:bottom"> </td> <td colspan="1" style="vertical-align:bottom;width:1%;background-color:rgb(204, 238, 255);vertical-align:bottom"> </td> <td colspan="1" style="vertical-align:bottom;text-align:right;width:9%;background-color:rgb(204, 238, 255);vertical-align:bottom"> <div style="line-height:1.25"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">5,579</span></span></div> </td> <td colspan="1" style="vertical-align:bottom;width:1%;background-color:rgb(204, 238, 255);vertical-align:bottom;white-space:nowrap"> </td> <td colspan="1" style="vertical-align:bottom;width:1%;background-color:rgb(204, 238, 255);vertical-align:bottom"> </td> <td colspan="1" style="vertical-align:bottom;width:1%;background-color:rgb(204, 238, 255);vertical-align:bottom"> </td> <td colspan="1" style="vertical-align:bottom;text-align:right;width:9%;background-color:rgb(204, 238, 255);vertical-align:bottom"> <div style="line-height:1.25"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">13,374</span></span></div> </td> <td colspan="1" style="vertical-align:bottom;width:1%;background-color:rgb(204, 238, 255);vertical-align:bottom;white-space:nowrap"> </td> </tr> <tr> <td style="vertical-align:middle;width:64%;vertical-align:bottom"> <div style="text-align:justify;line-height:1.25"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">Deferred tax expense (benefit):</span></span></div> </td> <td colspan="1" style="vertical-align:bottom;width:1%;vertical-align:bottom"> </td> <td colspan="1" style="vertical-align:bottom;width:1%;vertical-align:bottom"> </td> <td colspan="1" style="vertical-align:bottom;text-align:right;width:9%;vertical-align:bottom"> </td> <td colspan="1" style="vertical-align:bottom;width:1%;vertical-align:bottom;white-space:nowrap"> </td> <td colspan="1" style="vertical-align:bottom;width:1%;vertical-align:bottom"> </td> <td colspan="1" style="vertical-align:bottom;width:1%;vertical-align:bottom"> </td> <td colspan="1" style="vertical-align:bottom;text-align:right;width:9%;vertical-align:bottom"> </td> <td colspan="1" style="vertical-align:bottom;width:1%;vertical-align:bottom;white-space:nowrap"> </td> <td colspan="1" style="vertical-align:bottom;width:1%;vertical-align:bottom"> </td> <td colspan="1" style="vertical-align:bottom;width:1%;vertical-align:bottom"> </td> <td colspan="1" style="vertical-align:bottom;text-align:right;width:9%;vertical-align:bottom"> </td> <td colspan="1" style="vertical-align:bottom;width:1%;vertical-align:bottom;white-space:nowrap"> </td> </tr> <tr> <td style="vertical-align:middle;width:64%;background-color:rgb(204, 238, 255);vertical-align:bottom"> <div style="text-align:justify;line-height:1.25;margin-left:9pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">Local</span></span></div> </td> <td colspan="1" style="vertical-align:bottom;width:1%;background-color:rgb(204, 238, 255);vertical-align:bottom"> </td> <td colspan="1" style="vertical-align:bottom;width:1%;background-color:rgb(204, 238, 255);vertical-align:bottom"> </td> <td colspan="1" style="vertical-align:bottom;text-align:right;width:9%;background-color:rgb(204, 238, 255);vertical-align:bottom"> <div style="line-height:1.25"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">17,629</span></span></div> </td> <td colspan="1" style="vertical-align:bottom;width:1%;background-color:rgb(204, 238, 255);vertical-align:bottom;white-space:nowrap"> </td> <td colspan="1" style="vertical-align:bottom;width:1%;background-color:rgb(204, 238, 255);vertical-align:bottom"> </td> <td colspan="1" style="vertical-align:bottom;width:1%;background-color:rgb(204, 238, 255);vertical-align:bottom"> </td> <td colspan="1" style="vertical-align:bottom;text-align:right;width:9%;background-color:rgb(204, 238, 255);vertical-align:bottom"> <div style="line-height:1.25"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">(17,141</span></span></div> </td> <td colspan="1" style="vertical-align:bottom;width:1%;background-color:rgb(204, 238, 255);vertical-align:bottom;white-space:nowrap"> <div style="line-height:1.25"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">)</span></span></div> </td> <td colspan="1" style="vertical-align:bottom;width:1%;background-color:rgb(204, 238, 255);vertical-align:bottom"> </td> <td colspan="1" style="vertical-align:bottom;width:1%;background-color:rgb(204, 238, 255);vertical-align:bottom"> </td> <td colspan="1" style="vertical-align:bottom;text-align:right;width:9%;background-color:rgb(204, 238, 255);vertical-align:bottom"> <div style="line-height:1.25"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">62,748</span></span></div> </td> <td colspan="1" style="vertical-align:bottom;width:1%;background-color:rgb(204, 238, 255);vertical-align:bottom;white-space:nowrap"> </td> </tr> <tr> <td style="vertical-align:middle;width:64%;padding-bottom:2px;vertical-align:bottom"> <div style="text-align:justify;line-height:1.25;margin-left:9pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">Foreign</span></span></div> </td> <td colspan="1" style="vertical-align:bottom;width:1%;padding-bottom:2px;vertical-align:bottom"> </td> <td colspan="1" style="vertical-align:bottom;width:1%;border-bottom:2px solid rgb(0, 0, 0);vertical-align:bottom"> </td> <td colspan="1" style="vertical-align:bottom;text-align:right;width:9%;border-bottom:2px solid rgb(0, 0, 0);vertical-align:bottom"> <div style="line-height:1.25"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">(12,633</span></span></div> </td> <td colspan="1" style="vertical-align:bottom;width:1%;padding-bottom:2px;vertical-align:bottom;white-space:nowrap"> <div style="line-height:1.25"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">)</span></span></div> </td> <td colspan="1" style="vertical-align:bottom;width:1%;padding-bottom:2px;vertical-align:bottom"> </td> <td colspan="1" style="vertical-align:bottom;width:1%;border-bottom:2px solid rgb(0, 0, 0);vertical-align:bottom"> </td> <td colspan="1" style="vertical-align:bottom;text-align:right;width:9%;border-bottom:2px solid rgb(0, 0, 0);vertical-align:bottom"> <div style="line-height:1.25"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">4,336</span></span></div> </td> <td colspan="1" style="vertical-align:bottom;width:1%;padding-bottom:2px;vertical-align:bottom;white-space:nowrap"> </td> <td colspan="1" style="vertical-align:bottom;width:1%;padding-bottom:2px;vertical-align:bottom"> </td> <td colspan="1" style="vertical-align:bottom;width:1%;border-bottom:2px solid rgb(0, 0, 0);vertical-align:bottom"> </td> <td colspan="1" style="vertical-align:bottom;text-align:right;width:9%;border-bottom:2px solid rgb(0, 0, 0);vertical-align:bottom"> <div style="line-height:1.25"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">(10,810</span></span></div> </td> <td colspan="1" style="vertical-align:bottom;width:1%;padding-bottom:2px;vertical-align:bottom;white-space:nowrap"> <div style="line-height:1.25"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">)</span></span></div> </td> </tr> <tr> <td style="vertical-align:middle;width:64%;padding-bottom:4px;background-color:rgb(204, 238, 255);vertical-align:bottom"> <div style="text-align:justify;line-height:1.25"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">Income tax expense, net</span></span></div> </td> <td colspan="1" style="vertical-align:bottom;width:1%;padding-bottom:4px;background-color:rgb(204, 238, 255);vertical-align:bottom"> </td> <td colspan="1" style="vertical-align:bottom;width:1%;border-bottom:4px double rgb(0, 0, 0);background-color:rgb(204, 238, 255);vertical-align:bottom"> <div style="line-height:1.25"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">$</span></span></div> </td> <td colspan="1" style="vertical-align:bottom;text-align:right;width:9%;border-bottom:4px double rgb(0, 0, 0);background-color:rgb(204, 238, 255);vertical-align:bottom"> <div style="line-height:1.25"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">21,569</span></span></div> </td> <td colspan="1" style="vertical-align:bottom;width:1%;padding-bottom:4px;background-color:rgb(204, 238, 255);vertical-align:bottom;white-space:nowrap"> </td> <td colspan="1" style="vertical-align:bottom;width:1%;padding-bottom:4px;background-color:rgb(204, 238, 255);vertical-align:bottom"> </td> <td colspan="1" style="vertical-align:bottom;width:1%;border-bottom:4px double rgb(0, 0, 0);background-color:rgb(204, 238, 255);vertical-align:bottom"> <div style="line-height:1.25"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">$</span></span></div> </td> <td colspan="1" style="vertical-align:bottom;text-align:right;width:9%;border-bottom:4px double rgb(0, 0, 0);background-color:rgb(204, 238, 255);vertical-align:bottom"> <div style="line-height:1.25"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">10,205</span></span></div> </td> <td colspan="1" style="vertical-align:bottom;width:1%;padding-bottom:4px;background-color:rgb(204, 238, 255);vertical-align:bottom;white-space:nowrap"> </td> <td colspan="1" style="vertical-align:bottom;width:1%;padding-bottom:4px;background-color:rgb(204, 238, 255);vertical-align:bottom"> </td> <td colspan="1" style="vertical-align:bottom;width:1%;border-bottom:4px double rgb(0, 0, 0);background-color:rgb(204, 238, 255);vertical-align:bottom"> <div style="line-height:1.25"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">$</span></span></div> </td> <td colspan="1" style="vertical-align:bottom;text-align:right;width:9%;border-bottom:4px double rgb(0, 0, 0);background-color:rgb(204, 238, 255);vertical-align:bottom"> <div style="line-height:1.25"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">65,312</span></span></div> </td> <td colspan="1" style="vertical-align:bottom;width:1%;padding-bottom:4px;background-color:rgb(204, 238, 255);vertical-align:bottom;white-space:nowrap"> </td> </tr> </table> </div> </div> 14181000 17431000 0 2392000 5579000 13374000 17629000 -17141000 62748000 -12633000 4336000 -10810000 21569000 10205000 65312000 <div> <div style="margin-left:99pt"> <table border="0" cellpadding="0" cellspacing="0" style="width:85%;color:#000000;font-family:'Times New Roman', Times, serif;font-size:10pt;text-align:left"> <tr> <td style="vertical-align:middle;padding-bottom:2px;vertical-align:bottom"> <div style="text-align:justify;line-height:1.25"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">Details</span></span></div> </td> <td colspan="1" style="vertical-align:bottom;padding-bottom:2px;vertical-align:bottom"> </td> <td colspan="2" style="vertical-align:middle;border-bottom:#000000 solid 2px;vertical-align:bottom"> <div style="text-align:center;line-height:1.25"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">2025</span></span></div> </td> <td colspan="1" style="vertical-align:bottom;padding-bottom:2px;vertical-align:bottom;white-space:nowrap"> </td> <td colspan="1" style="vertical-align:bottom;padding-bottom:2px;vertical-align:bottom"> </td> <td colspan="2" style="vertical-align:middle;border-bottom:#000000 solid 2px;vertical-align:bottom"> <div style="text-align:center;line-height:1.25"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">2024</span></span></div> </td> <td colspan="1" style="vertical-align:bottom;padding-bottom:2px;vertical-align:bottom;white-space:nowrap"> </td> <td colspan="1" style="vertical-align:bottom;padding-bottom:2px;vertical-align:bottom"> </td> <td colspan="2" style="vertical-align:middle;border-bottom:#000000 solid 2px;vertical-align:bottom"> <div style="text-align:center;line-height:1.25"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">2023</span></span></div> </td> <td colspan="1" style="vertical-align:bottom;padding-bottom:2px;vertical-align:bottom;white-space:nowrap"> </td> </tr> <tr> <td style="vertical-align:middle;background-color:rgb(204, 238, 255);vertical-align:bottom"> <div style="text-align:justify;line-height:1.25"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">Profit (loss) before taxes:</span></span></div> </td> <td colspan="1" style="vertical-align:bottom;background-color:rgb(204, 238, 255);vertical-align:bottom"> </td> <td colspan="2" style="vertical-align:middle;background-color:rgb(204, 238, 255);vertical-align:bottom"> </td> <td colspan="1" style="vertical-align:bottom;background-color:rgb(204, 238, 255);vertical-align:bottom;white-space:nowrap"> </td> <td colspan="1" style="vertical-align:bottom;background-color:rgb(204, 238, 255);vertical-align:bottom"> </td> <td colspan="2" style="vertical-align:middle;background-color:rgb(204, 238, 255);vertical-align:bottom"> </td> <td colspan="1" style="vertical-align:bottom;background-color:rgb(204, 238, 255);vertical-align:bottom;white-space:nowrap"> </td> <td colspan="1" style="vertical-align:bottom;background-color:rgb(204, 238, 255);vertical-align:bottom"> </td> <td colspan="2" style="vertical-align:middle;background-color:rgb(204, 238, 255);vertical-align:bottom"> </td> <td colspan="1" style="vertical-align:bottom;background-color:rgb(204, 238, 255);vertical-align:bottom;white-space:nowrap"> </td> </tr> <tr> <td style="vertical-align:middle;width:64%;vertical-align:bottom"> <div style="text-align:justify;line-height:1.25;margin-left:9pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">Local</span></span></div> </td> <td colspan="1" style="vertical-align:bottom;width:1%;vertical-align:bottom"> </td> <td colspan="1" style="vertical-align:bottom;width:1%;vertical-align:bottom"> <div style="line-height:1.25"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">$</span></span></div> </td> <td colspan="1" style="vertical-align:bottom;text-align:right;width:9%;vertical-align:bottom"> <div style="line-height:1.25"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">211,122</span></span></div> </td> <td colspan="1" style="vertical-align:bottom;width:1%;vertical-align:bottom;white-space:nowrap"> </td> <td colspan="1" style="vertical-align:bottom;width:1%;vertical-align:bottom"> </td> <td colspan="1" style="vertical-align:bottom;width:1%;vertical-align:bottom"> <div style="line-height:1.25"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">$</span></span></div> </td> <td colspan="1" style="vertical-align:bottom;text-align:right;width:9%;vertical-align:bottom"> <div style="line-height:1.25"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">242,879</span></span></div> </td> <td colspan="1" style="vertical-align:bottom;width:1%;vertical-align:bottom;white-space:nowrap"> </td> <td colspan="1" style="vertical-align:bottom;width:1%;vertical-align:bottom"> </td> <td colspan="1" style="vertical-align:bottom;width:1%;vertical-align:bottom"> <div style="line-height:1.25"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">$</span></span></div> </td> <td colspan="1" style="vertical-align:bottom;text-align:right;width:9%;vertical-align:bottom"> <div style="line-height:1.25"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">588,453</span></span></div> </td> <td colspan="1" style="vertical-align:bottom;width:1%;vertical-align:bottom;white-space:nowrap"> </td> </tr> <tr> <td style="vertical-align:middle;width:64%;padding-bottom:2px;background-color:rgb(204, 238, 255);vertical-align:bottom"> <div style="text-align:justify;line-height:1.25;margin-left:9pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">Foreign</span></span></div> </td> <td colspan="1" style="vertical-align:bottom;width:1%;padding-bottom:2px;background-color:rgb(204, 238, 255);vertical-align:bottom"> </td> <td colspan="1" style="vertical-align:bottom;width:1%;border-bottom:2px solid rgb(0, 0, 0);background-color:rgb(204, 238, 255);vertical-align:bottom"> </td> <td colspan="1" style="vertical-align:bottom;text-align:right;width:9%;border-bottom:2px solid rgb(0, 0, 0);background-color:rgb(204, 238, 255);vertical-align:bottom"> <div style="line-height:1.25"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">29,261</span></span></div> </td> <td colspan="1" style="vertical-align:bottom;width:1%;padding-bottom:2px;background-color:rgb(204, 238, 255);vertical-align:bottom;white-space:nowrap"> </td> <td colspan="1" style="vertical-align:bottom;width:1%;padding-bottom:2px;background-color:rgb(204, 238, 255);vertical-align:bottom"> </td> <td colspan="1" style="vertical-align:bottom;width:1%;border-bottom:2px solid rgb(0, 0, 0);background-color:rgb(204, 238, 255);vertical-align:bottom"> </td> <td colspan="1" style="vertical-align:bottom;text-align:right;width:9%;border-bottom:2px solid rgb(0, 0, 0);background-color:rgb(204, 238, 255);vertical-align:bottom"> <div style="line-height:1.25"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">(25,452</span></span></div> </td> <td colspan="1" style="vertical-align:bottom;width:1%;padding-bottom:2px;background-color:rgb(204, 238, 255);vertical-align:bottom;white-space:nowrap"> <div style="line-height:1.25"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">)</span></span></div> </td> <td colspan="1" style="vertical-align:bottom;width:1%;padding-bottom:2px;background-color:rgb(204, 238, 255);vertical-align:bottom"> </td> <td colspan="1" style="vertical-align:bottom;width:1%;border-bottom:2px solid rgb(0, 0, 0);background-color:rgb(204, 238, 255);vertical-align:bottom"> </td> <td colspan="1" style="vertical-align:bottom;text-align:right;width:9%;border-bottom:2px solid rgb(0, 0, 0);background-color:rgb(204, 238, 255);vertical-align:bottom"> <div style="line-height:1.25"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">(3,611</span></span></div> </td> <td colspan="1" style="vertical-align:bottom;width:1%;padding-bottom:2px;background-color:rgb(204, 238, 255);vertical-align:bottom;white-space:nowrap"> <div style="line-height:1.25"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">)</span></span></div> </td> </tr> <tr> <td style="vertical-align:middle;width:64%;padding-bottom:4px;vertical-align:bottom"> <div style="text-align:justify;line-height:1.25"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">Total profit (loss) before taxes</span></span></div> </td> <td colspan="1" style="vertical-align:bottom;width:1%;padding-bottom:4px;vertical-align:bottom"> </td> <td colspan="1" style="vertical-align:bottom;width:1%;border-bottom:4px double rgb(0, 0, 0);vertical-align:bottom"> <div style="line-height:1.25"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">$</span></span></div> </td> <td colspan="1" style="vertical-align:bottom;text-align:right;width:9%;border-bottom:4px double rgb(0, 0, 0);vertical-align:bottom"> <div style="line-height:1.25"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">240,383</span></span></div> </td> <td colspan="1" style="vertical-align:bottom;width:1%;padding-bottom:4px;vertical-align:bottom;white-space:nowrap"> </td> <td colspan="1" style="vertical-align:bottom;width:1%;padding-bottom:4px;vertical-align:bottom"> </td> <td colspan="1" style="vertical-align:bottom;width:1%;border-bottom:4px double rgb(0, 0, 0);vertical-align:bottom"> <div style="line-height:1.25"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">$</span></span></div> </td> <td colspan="1" style="vertical-align:bottom;text-align:right;width:9%;border-bottom:4px double rgb(0, 0, 0);vertical-align:bottom"> <div style="line-height:1.25"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">217,427</span></span></div> </td> <td colspan="1" style="vertical-align:bottom;width:1%;padding-bottom:4px;vertical-align:bottom;white-space:nowrap"> </td> <td colspan="1" style="vertical-align:bottom;width:1%;padding-bottom:4px;vertical-align:bottom"> </td> <td colspan="1" style="vertical-align:bottom;width:1%;border-bottom:4px double rgb(0, 0, 0);vertical-align:bottom"> <div style="line-height:1.25"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">$</span></span></div> </td> <td colspan="1" style="vertical-align:bottom;text-align:right;width:9%;border-bottom:4px double rgb(0, 0, 0);vertical-align:bottom"> <div style="line-height:1.25"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">584,842</span></span></div> </td> <td colspan="1" style="vertical-align:bottom;width:1%;padding-bottom:4px;vertical-align:bottom;white-space:nowrap"> </td> </tr> </table> </div> </div> 211122000 242879000 588453000 29261000 -25452000 -3611000 240383000 217427000 584842000 <div> <div style="margin-left:99pt"> <table border="0" cellpadding="0" cellspacing="0" style="width:85%;color:#000000;font-family:'Times New Roman', Times, serif;font-size:10pt;text-align:left"> <tr> <td style="vertical-align:top;padding-bottom:2px;vertical-align:bottom"> <div style="text-align:justify;line-height:1.25"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">Details</span></span></div> </td> <td colspan="1" style="vertical-align:bottom;padding-bottom:2px;vertical-align:bottom"> </td> <td colspan="2" style="vertical-align:top;border-bottom:#000000 solid 2px;vertical-align:bottom"> <div style="text-align:center;line-height:1.25"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">2025</span></span></div> </td> <td colspan="1" style="vertical-align:bottom;padding-bottom:2px;vertical-align:bottom;white-space:nowrap"> </td> <td colspan="1" style="vertical-align:bottom;padding-bottom:2px;vertical-align:bottom"> </td> <td colspan="2" style="vertical-align:top;border-bottom:#000000 solid 2px;vertical-align:bottom"> <div style="text-align:center;line-height:1.25"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">2024</span></span></div> </td> <td colspan="1" style="vertical-align:bottom;padding-bottom:2px;vertical-align:bottom;white-space:nowrap"> </td> </tr> <tr> <td style="vertical-align:top;background-color:rgb(204, 238, 255);vertical-align:bottom"> <div style="text-align:justify;line-height:1.25"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">Deferred tax asset and liability - long-term:</span></span></div> </td> <td colspan="1" style="vertical-align:bottom;background-color:rgb(204, 238, 255);vertical-align:bottom"> </td> <td colspan="2" style="vertical-align:top;background-color:rgb(204, 238, 255);vertical-align:bottom"> </td> <td colspan="1" style="vertical-align:bottom;background-color:rgb(204, 238, 255);vertical-align:bottom;white-space:nowrap"> </td> <td colspan="1" style="vertical-align:bottom;background-color:rgb(204, 238, 255);vertical-align:bottom"> </td> <td colspan="2" style="vertical-align:top;background-color:rgb(204, 238, 255);vertical-align:bottom"> </td> <td colspan="1" style="vertical-align:bottom;background-color:rgb(204, 238, 255);vertical-align:bottom;white-space:nowrap"> </td> </tr> <tr> <td style="vertical-align:top;vertical-align:bottom"> <div style="text-align:justify;line-height:1.25;font-weight:bold"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">Deferred tax assets:</span></span></div> </td> <td colspan="1" style="vertical-align:bottom;vertical-align:bottom"> </td> <td colspan="2" style="vertical-align:top;vertical-align:bottom"> </td> <td colspan="1" style="vertical-align:bottom;vertical-align:bottom;white-space:nowrap"> </td> <td colspan="1" style="vertical-align:bottom;vertical-align:bottom"> </td> <td colspan="2" style="vertical-align:top;vertical-align:bottom"> </td> <td colspan="1" style="vertical-align:bottom;vertical-align:bottom;white-space:nowrap"> </td> </tr> <tr> <td style="vertical-align:top;width:76%;background-color:rgb(204, 238, 255);vertical-align:bottom"> <div style="text-align:justify;line-height:1.25"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">Net operating loss carryforward</span></span></div> </td> <td colspan="1" style="vertical-align:bottom;width:1%;background-color:rgb(204, 238, 255);vertical-align:bottom"> </td> <td colspan="1" style="vertical-align:bottom;width:1%;background-color:rgb(204, 238, 255);vertical-align:bottom"> <div style="line-height:1.25"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">$</span></span></div> </td> <td colspan="1" style="vertical-align:bottom;text-align:right;width:9%;background-color:rgb(204, 238, 255);vertical-align:bottom"> <div style="line-height:1.25"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">19,446</span></span></div> </td> <td colspan="1" style="vertical-align:bottom;width:1%;background-color:rgb(204, 238, 255);vertical-align:bottom;white-space:nowrap"> </td> <td colspan="1" style="vertical-align:bottom;width:1%;background-color:rgb(204, 238, 255);vertical-align:bottom"> </td> <td colspan="1" style="vertical-align:bottom;width:1%;background-color:rgb(204, 238, 255);vertical-align:bottom"> <div style="line-height:1.25"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">$</span></span></div> </td> <td colspan="1" style="vertical-align:bottom;text-align:right;width:9%;background-color:rgb(204, 238, 255);vertical-align:bottom"> <div style="line-height:1.25"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">7,397</span></span></div> </td> <td colspan="1" style="vertical-align:bottom;width:1%;background-color:rgb(204, 238, 255);vertical-align:bottom;white-space:nowrap"> </td> </tr> <tr> <td style="vertical-align:top;width:76%;vertical-align:bottom"> <div style="text-align:justify;line-height:1.25"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">Employees compensation</span></span></div> </td> <td colspan="1" style="vertical-align:bottom;width:1%;vertical-align:bottom"> </td> <td colspan="1" style="vertical-align:bottom;width:1%;vertical-align:bottom"> </td> <td colspan="1" style="vertical-align:bottom;text-align:right;width:9%;vertical-align:bottom"> <div style="line-height:1.25"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">10,215</span></span></div> </td> <td colspan="1" style="vertical-align:bottom;width:1%;vertical-align:bottom;white-space:nowrap"> </td> <td colspan="1" style="vertical-align:bottom;width:1%;vertical-align:bottom"> </td> <td colspan="1" style="vertical-align:bottom;width:1%;vertical-align:bottom"> </td> <td colspan="1" style="vertical-align:bottom;text-align:right;width:9%;vertical-align:bottom"> <div style="line-height:1.25"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">9,675</span></span></div> </td> <td colspan="1" style="vertical-align:bottom;width:1%;vertical-align:bottom;white-space:nowrap"> </td> </tr> <tr> <td style="vertical-align:top;width:76%;background-color:rgb(204, 238, 255);vertical-align:bottom"> <div style="text-align:justify;line-height:1.25"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">Accruals and allowances</span></span></div> </td> <td colspan="1" style="vertical-align:bottom;width:1%;background-color:rgb(204, 238, 255);vertical-align:bottom"> </td> <td colspan="1" style="vertical-align:bottom;width:1%;background-color:rgb(204, 238, 255);vertical-align:bottom"> </td> <td colspan="1" style="vertical-align:bottom;text-align:right;width:9%;background-color:rgb(204, 238, 255);vertical-align:bottom"> <div style="line-height:1.25"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">9,332</span></span></div> </td> <td colspan="1" style="vertical-align:bottom;width:1%;background-color:rgb(204, 238, 255);vertical-align:bottom;white-space:nowrap"> </td> <td colspan="1" style="vertical-align:bottom;width:1%;background-color:rgb(204, 238, 255);vertical-align:bottom"> </td> <td colspan="1" style="vertical-align:bottom;width:1%;background-color:rgb(204, 238, 255);vertical-align:bottom"> </td> <td colspan="1" style="vertical-align:bottom;text-align:right;width:9%;background-color:rgb(204, 238, 255);vertical-align:bottom"> <div style="line-height:1.25"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">11,355</span></span></div> </td> <td colspan="1" style="vertical-align:bottom;width:1%;background-color:rgb(204, 238, 255);vertical-align:bottom;white-space:nowrap"> </td> </tr> <tr> <td style="vertical-align:top;width:76%;vertical-align:bottom"> <div style="text-align:justify;line-height:1.25"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">Research and development credit</span></span></div> </td> <td colspan="1" style="vertical-align:bottom;width:1%;vertical-align:bottom"> </td> <td colspan="1" style="vertical-align:bottom;width:1%;vertical-align:bottom"> </td> <td colspan="1" style="vertical-align:bottom;text-align:right;width:9%;vertical-align:bottom"> <div style="line-height:1.25"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">26,027</span></span></div> </td> <td colspan="1" style="vertical-align:bottom;width:1%;vertical-align:bottom;white-space:nowrap"> </td> <td colspan="1" style="vertical-align:bottom;width:1%;vertical-align:bottom"> </td> <td colspan="1" style="vertical-align:bottom;width:1%;vertical-align:bottom"> </td> <td colspan="1" style="vertical-align:bottom;text-align:right;width:9%;vertical-align:bottom"> <div style="line-height:1.25"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">24,689</span></span></div> </td> <td colspan="1" style="vertical-align:bottom;width:1%;vertical-align:bottom;white-space:nowrap"> </td> </tr> <tr> <td style="vertical-align:top;width:76%;background-color:rgb(204, 238, 255);vertical-align:bottom"> <div style="text-align:justify;line-height:1.25"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">Research and development, including Section 174 under U.S. Internal Revenue Code</span></span></div> </td> <td colspan="1" style="vertical-align:bottom;width:1%;background-color:rgb(204, 238, 255);vertical-align:bottom"> </td> <td colspan="1" style="vertical-align:bottom;width:1%;background-color:rgb(204, 238, 255);vertical-align:bottom"> </td> <td colspan="1" style="vertical-align:bottom;text-align:right;width:9%;background-color:rgb(204, 238, 255);vertical-align:bottom"> <div style="line-height:1.25"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">18,299</span></span></div> </td> <td colspan="1" style="vertical-align:bottom;width:1%;background-color:rgb(204, 238, 255);vertical-align:bottom;white-space:nowrap"> </td> <td colspan="1" style="vertical-align:bottom;width:1%;background-color:rgb(204, 238, 255);vertical-align:bottom"> </td> <td colspan="1" style="vertical-align:bottom;width:1%;background-color:rgb(204, 238, 255);vertical-align:bottom"> </td> <td colspan="1" style="vertical-align:bottom;text-align:right;width:9%;background-color:rgb(204, 238, 255);vertical-align:bottom"> <div style="line-height:1.25"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">27,732</span></span></div> </td> <td colspan="1" style="vertical-align:bottom;width:1%;background-color:rgb(204, 238, 255);vertical-align:bottom;white-space:nowrap"> </td> </tr> <tr> <td style="vertical-align:top;width:76%;vertical-align:bottom"> <div style="text-align:justify;line-height:1.25"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">Lease liabilities</span></span></div> </td> <td colspan="1" style="vertical-align:bottom;width:1%;vertical-align:bottom"> </td> <td colspan="1" style="vertical-align:bottom;width:1%;vertical-align:bottom"> </td> <td colspan="1" style="vertical-align:bottom;text-align:right;width:9%;vertical-align:bottom"> <div style="line-height:1.25"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">10,629</span></span></div> </td> <td colspan="1" style="vertical-align:bottom;width:1%;vertical-align:bottom;white-space:nowrap"> </td> <td colspan="1" style="vertical-align:bottom;width:1%;vertical-align:bottom"> </td> <td colspan="1" style="vertical-align:bottom;width:1%;vertical-align:bottom"> </td> <td colspan="1" style="vertical-align:bottom;text-align:right;width:9%;vertical-align:bottom"> <div style="line-height:1.25"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">9,617</span></span></div> </td> <td colspan="1" style="vertical-align:bottom;width:1%;vertical-align:bottom;white-space:nowrap"> </td> </tr> <tr> <td style="vertical-align:top;width:76%;background-color:rgb(204, 238, 255);padding-bottom:2px;vertical-align:bottom"> <div style="text-align:justify;line-height:1.25"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">Others</span></span></div> </td> <td colspan="1" style="vertical-align:bottom;width:1%;background-color:rgb(204, 238, 255);padding-bottom:2px;vertical-align:bottom"> </td> <td colspan="1" style="vertical-align:bottom;width:1%;background-color:rgb(204, 238, 255);border-bottom:2px solid rgb(0, 0, 0);vertical-align:bottom"> </td> <td colspan="1" style="vertical-align:bottom;text-align:right;width:9%;background-color:rgb(204, 238, 255);border-bottom:2px solid rgb(0, 0, 0);vertical-align:bottom"> <div style="line-height:1.25"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">722</span></span></div> </td> <td colspan="1" style="vertical-align:bottom;width:1%;background-color:rgb(204, 238, 255);padding-bottom:2px;vertical-align:bottom;white-space:nowrap"> </td> <td colspan="1" style="vertical-align:bottom;width:1%;background-color:rgb(204, 238, 255);padding-bottom:2px;vertical-align:bottom"> </td> <td colspan="1" style="vertical-align:bottom;width:1%;background-color:rgb(204, 238, 255);border-bottom:2px solid rgb(0, 0, 0);vertical-align:bottom"> </td> <td colspan="1" style="vertical-align:bottom;text-align:right;width:9%;background-color:rgb(204, 238, 255);border-bottom:2px solid rgb(0, 0, 0);vertical-align:bottom"> <div style="line-height:1.25"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">652</span></span></div> </td> <td colspan="1" style="vertical-align:bottom;width:1%;background-color:rgb(204, 238, 255);padding-bottom:2px;vertical-align:bottom;white-space:nowrap"> </td> </tr> <tr> <td style="vertical-align:top;width:76%;vertical-align:bottom"> </td> <td colspan="1" style="vertical-align:bottom;width:1%;vertical-align:bottom"> </td> <td colspan="1" style="vertical-align:bottom;width:1%;vertical-align:bottom"> </td> <td colspan="1" style="vertical-align:bottom;text-align:right;width:9%;vertical-align:bottom"> <div style="line-height:1.25"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">94,670</span></span></div> </td> <td colspan="1" style="vertical-align:bottom;width:1%;vertical-align:bottom;white-space:nowrap"> </td> <td colspan="1" style="vertical-align:bottom;width:1%;vertical-align:bottom"> </td> <td colspan="1" style="vertical-align:bottom;width:1%;vertical-align:bottom"> </td> <td colspan="1" style="vertical-align:bottom;text-align:right;width:9%;vertical-align:bottom"> <div style="line-height:1.25"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">91,117</span></span></div> </td> <td colspan="1" style="vertical-align:bottom;width:1%;vertical-align:bottom;white-space:nowrap"> </td> </tr> <tr> <td style="vertical-align:top;width:76%;background-color:rgb(204, 238, 255);padding-bottom:2px;vertical-align:bottom"> <div style="text-align:justify;line-height:1.25"> <div style="text-align:left;line-height:1.25;font-family:'Times New Roman',Times,serif"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">Valuation allowance, see Note 17E below</span></span></div> </div> </td> <td colspan="1" style="vertical-align:bottom;width:1%;background-color:rgb(204, 238, 255);padding-bottom:2px;vertical-align:bottom"> </td> <td colspan="1" style="vertical-align:bottom;width:1%;background-color:rgb(204, 238, 255);border-bottom:2px solid rgb(0, 0, 0);vertical-align:bottom"> </td> <td colspan="1" style="vertical-align:bottom;text-align:right;width:9%;background-color:rgb(204, 238, 255);border-bottom:2px solid rgb(0, 0, 0);vertical-align:bottom"> <div style="line-height:1.25"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">(24,522</span></span></div> </td> <td colspan="1" style="vertical-align:bottom;width:1%;background-color:rgb(204, 238, 255);padding-bottom:2px;vertical-align:bottom;white-space:nowrap"> <div style="line-height:1.25"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">)</span></span></div> </td> <td colspan="1" style="vertical-align:bottom;width:1%;background-color:rgb(204, 238, 255);padding-bottom:2px;vertical-align:bottom"> </td> <td colspan="1" style="vertical-align:bottom;width:1%;background-color:rgb(204, 238, 255);border-bottom:2px solid rgb(0, 0, 0);vertical-align:bottom"> </td> <td colspan="1" style="vertical-align:bottom;text-align:right;width:9%;background-color:rgb(204, 238, 255);border-bottom:2px solid rgb(0, 0, 0);vertical-align:bottom"> <div style="line-height:1.25"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">(31,613</span></span></div> </td> <td colspan="1" style="vertical-align:bottom;width:1%;background-color:rgb(204, 238, 255);padding-bottom:2px;vertical-align:bottom;white-space:nowrap"> <div style="line-height:1.25"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">)</span></span></div> </td> </tr> <tr> <td style="vertical-align:top;width:76%;padding-bottom:4px;vertical-align:bottom"> <div style="text-align:justify;line-height:1.25"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">Deferred tax assets</span></span></div> </td> <td colspan="1" style="vertical-align:bottom;width:1%;padding-bottom:4px;vertical-align:bottom"> </td> <td colspan="1" style="vertical-align:bottom;width:1%;border-bottom:4px double rgb(0, 0, 0);vertical-align:bottom"> <div style="line-height:1.25"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">$</span></span></div> </td> <td colspan="1" style="vertical-align:bottom;text-align:right;width:9%;border-bottom:4px double rgb(0, 0, 0);vertical-align:bottom"> <div style="line-height:1.25"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">70,148</span></span></div> </td> <td colspan="1" style="vertical-align:bottom;width:1%;padding-bottom:4px;vertical-align:bottom;white-space:nowrap"> </td> <td colspan="1" style="vertical-align:bottom;width:1%;padding-bottom:4px;vertical-align:bottom"> </td> <td colspan="1" style="vertical-align:bottom;width:1%;border-bottom:4px double rgb(0, 0, 0);vertical-align:bottom"> <div style="line-height:1.25"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">$</span></span></div> </td> <td colspan="1" style="vertical-align:bottom;text-align:right;width:9%;border-bottom:4px double rgb(0, 0, 0);vertical-align:bottom"> <div style="line-height:1.25"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">59,504</span></span></div> </td> <td colspan="1" style="vertical-align:bottom;width:1%;padding-bottom:4px;vertical-align:bottom;white-space:nowrap"> </td> </tr> <tr> <td style="vertical-align:top;width:76%;background-color:rgb(204, 238, 255);vertical-align:bottom"> <div style="text-align:justify;line-height:1.25;font-weight:bold"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">Deferred tax liabilities - long-term:</span></span></div> </td> <td colspan="1" style="vertical-align:bottom;width:1%;background-color:rgb(204, 238, 255);vertical-align:bottom"> </td> <td colspan="1" style="vertical-align:bottom;width:1%;background-color:rgb(204, 238, 255);vertical-align:bottom"> </td> <td colspan="1" style="vertical-align:bottom;text-align:right;width:9%;background-color:rgb(204, 238, 255);vertical-align:bottom"> </td> <td colspan="1" style="vertical-align:bottom;width:1%;background-color:rgb(204, 238, 255);vertical-align:bottom;white-space:nowrap"> </td> <td colspan="1" style="vertical-align:bottom;width:1%;background-color:rgb(204, 238, 255);vertical-align:bottom"> </td> <td colspan="1" style="vertical-align:bottom;width:1%;background-color:rgb(204, 238, 255);vertical-align:bottom"> </td> <td colspan="1" style="vertical-align:bottom;text-align:right;width:9%;background-color:rgb(204, 238, 255);vertical-align:bottom"> </td> <td colspan="1" style="vertical-align:bottom;width:1%;background-color:rgb(204, 238, 255);vertical-align:bottom;white-space:nowrap"> </td> </tr> <tr> <td style="vertical-align:top;width:76%;vertical-align:bottom"> <div style="text-align:justify;line-height:1.25"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">Depreciation and amortization</span></span></div> </td> <td colspan="1" style="vertical-align:bottom;width:1%;vertical-align:bottom"> </td> <td colspan="1" style="vertical-align:bottom;width:1%;vertical-align:bottom"> <div style="line-height:1.25"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">$</span></span></div> </td> <td colspan="1" style="vertical-align:bottom;text-align:right;width:9%;vertical-align:bottom"> <div style="line-height:1.25"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">(62,184</span></span></div> </td> <td colspan="1" style="vertical-align:bottom;width:1%;vertical-align:bottom;white-space:nowrap"> <div style="line-height:1.25"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">)</span></span></div> </td> <td colspan="1" style="vertical-align:bottom;width:1%;vertical-align:bottom"> </td> <td colspan="1" style="vertical-align:bottom;width:1%;vertical-align:bottom"> <div style="line-height:1.25"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">$</span></span></div> </td> <td colspan="1" style="vertical-align:bottom;text-align:right;width:9%;vertical-align:bottom"> <div style="line-height:1.25"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">(64,859</span></span></div> </td> <td colspan="1" style="vertical-align:bottom;width:1%;vertical-align:bottom;white-space:nowrap"> <div style="line-height:1.25"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">)</span></span></div> </td> </tr> <tr> <td style="vertical-align:top;width:76%;background-color:rgb(204, 238, 255);vertical-align:bottom"> <div style="text-align:justify;line-height:1.25"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">ROU - assets under operating leases</span></span></div> </td> <td colspan="1" style="vertical-align:bottom;width:1%;background-color:rgb(204, 238, 255);vertical-align:bottom"> </td> <td colspan="1" style="vertical-align:bottom;width:1%;background-color:rgb(204, 238, 255);vertical-align:bottom"> </td> <td colspan="1" style="vertical-align:bottom;text-align:right;width:9%;background-color:rgb(204, 238, 255);vertical-align:bottom"> <div style="line-height:1.25"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">(2,284</span></span></div> </td> <td colspan="1" style="vertical-align:bottom;width:1%;background-color:rgb(204, 238, 255);vertical-align:bottom;white-space:nowrap"> <div style="line-height:1.25"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">)</span></span></div> </td> <td colspan="1" style="vertical-align:bottom;width:1%;background-color:rgb(204, 238, 255);vertical-align:bottom"> </td> <td colspan="1" style="vertical-align:bottom;width:1%;background-color:rgb(204, 238, 255);vertical-align:bottom"> </td> <td colspan="1" style="vertical-align:bottom;text-align:right;width:9%;background-color:rgb(204, 238, 255);vertical-align:bottom"> <div style="line-height:1.25"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">(1,131</span></span></div> </td> <td colspan="1" style="vertical-align:bottom;width:1%;background-color:rgb(204, 238, 255);vertical-align:bottom;white-space:nowrap"> <div style="line-height:1.25"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">)</span></span></div> </td> </tr> <tr> <td style="vertical-align:top;width:76%;padding-bottom:2px;vertical-align:bottom"> <div style="text-align:justify;line-height:1.25"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">Others</span></span></div> </td> <td colspan="1" style="vertical-align:bottom;width:1%;padding-bottom:2px;vertical-align:bottom"> </td> <td colspan="1" style="vertical-align:bottom;width:1%;border-bottom:2px solid rgb(0, 0, 0);vertical-align:bottom"> </td> <td colspan="1" style="vertical-align:bottom;text-align:right;width:9%;border-bottom:2px solid rgb(0, 0, 0);vertical-align:bottom"> <div style="line-height:1.25"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">(1,148</span></span></div> </td> <td colspan="1" style="vertical-align:bottom;width:1%;padding-bottom:2px;vertical-align:bottom;white-space:nowrap"> <div style="line-height:1.25"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">)</span></span></div> </td> <td colspan="1" style="vertical-align:bottom;width:1%;padding-bottom:2px;vertical-align:bottom"> </td> <td colspan="1" style="vertical-align:bottom;width:1%;border-bottom:2px solid rgb(0, 0, 0);vertical-align:bottom"> </td> <td colspan="1" style="vertical-align:bottom;text-align:right;width:9%;border-bottom:2px solid rgb(0, 0, 0);vertical-align:bottom"> <div style="line-height:1.25"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">(801</span></span></div> </td> <td colspan="1" style="vertical-align:bottom;width:1%;padding-bottom:2px;vertical-align:bottom;white-space:nowrap"> <div style="line-height:1.25"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">)</span></span></div> </td> </tr> <tr> <td style="vertical-align:top;width:76%;background-color:rgb(204, 238, 255);padding-bottom:4px;vertical-align:bottom"> <div style="text-align:justify;line-height:1.25"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">Deferred tax liabilities</span></span></div> </td> <td colspan="1" style="vertical-align:bottom;width:1%;background-color:rgb(204, 238, 255);padding-bottom:4px;vertical-align:bottom"> </td> <td colspan="1" style="vertical-align:bottom;width:1%;background-color:rgb(204, 238, 255);border-bottom:4px double rgb(0, 0, 0);vertical-align:bottom"> <div style="line-height:1.25"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">$</span></span></div> </td> <td colspan="1" style="vertical-align:bottom;text-align:right;width:9%;background-color:rgb(204, 238, 255);border-bottom:4px double rgb(0, 0, 0);vertical-align:bottom"> <div style="line-height:1.25"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">(65,616</span></span></div> </td> <td colspan="1" style="vertical-align:bottom;width:1%;background-color:rgb(204, 238, 255);padding-bottom:4px;vertical-align:bottom;white-space:nowrap"> <div style="line-height:1.25"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">)</span></span></div> </td> <td colspan="1" style="vertical-align:bottom;width:1%;background-color:rgb(204, 238, 255);padding-bottom:4px;vertical-align:bottom"> </td> <td colspan="1" style="vertical-align:bottom;width:1%;background-color:rgb(204, 238, 255);border-bottom:4px double rgb(0, 0, 0);vertical-align:bottom"> <div style="line-height:1.25"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">$</span></span></div> </td> <td colspan="1" style="vertical-align:bottom;text-align:right;width:9%;background-color:rgb(204, 238, 255);border-bottom:4px double rgb(0, 0, 0);vertical-align:bottom"> <div style="line-height:1.25"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">(66,791</span></span></div> </td> <td colspan="1" style="vertical-align:bottom;width:1%;background-color:rgb(204, 238, 255);padding-bottom:4px;vertical-align:bottom;white-space:nowrap"> <div style="line-height:1.25"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">)</span></span></div> </td> </tr> <tr> <td style="vertical-align:top;width:76%;vertical-align:bottom"> </td> <td colspan="1" style="vertical-align:bottom;width:1%;vertical-align:bottom"> </td> <td colspan="1" style="vertical-align:bottom;width:1%;vertical-align:bottom"> </td> <td colspan="1" style="vertical-align:bottom;text-align:right;width:9%;vertical-align:bottom"> </td> <td colspan="1" style="vertical-align:bottom;width:1%;vertical-align:bottom;white-space:nowrap"> </td> <td colspan="1" style="vertical-align:bottom;width:1%;vertical-align:bottom"> </td> <td colspan="1" style="vertical-align:bottom;width:1%;vertical-align:bottom"> </td> <td colspan="1" style="vertical-align:bottom;text-align:right;width:9%;vertical-align:bottom"> </td> <td colspan="1" style="vertical-align:bottom;width:1%;vertical-align:bottom;white-space:nowrap"> </td> </tr> <tr> <td style="vertical-align:top;width:76%;background-color:rgb(204, 238, 255);padding-bottom:4px;vertical-align:bottom"> <div style="text-align:justify;line-height:1.25"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">Presented in long term deferred tax assets</span></span></div> </td> <td colspan="1" style="vertical-align:bottom;width:1%;background-color:rgb(204, 238, 255);padding-bottom:4px;vertical-align:bottom"> </td> <td colspan="1" style="vertical-align:bottom;width:1%;background-color:rgb(204, 238, 255);border-bottom:4px double rgb(0, 0, 0);vertical-align:bottom"> <div style="line-height:1.25"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">$</span></span></div> </td> <td colspan="1" style="vertical-align:bottom;text-align:right;width:9%;background-color:rgb(204, 238, 255);border-bottom:4px double rgb(0, 0, 0);vertical-align:bottom"> <div style="line-height:1.25"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">13,354</span></span></div> </td> <td colspan="1" style="vertical-align:bottom;width:1%;background-color:rgb(204, 238, 255);padding-bottom:4px;vertical-align:bottom;white-space:nowrap"> </td> <td colspan="1" style="vertical-align:bottom;width:1%;background-color:rgb(204, 238, 255);padding-bottom:4px;vertical-align:bottom"> </td> <td colspan="1" style="vertical-align:bottom;width:1%;background-color:rgb(204, 238, 255);border-bottom:4px double rgb(0, 0, 0);vertical-align:bottom"> <div style="line-height:1.25"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">$</span></span></div> </td> <td colspan="1" style="vertical-align:bottom;text-align:right;width:9%;background-color:rgb(204, 238, 255);border-bottom:4px double rgb(0, 0, 0);vertical-align:bottom"> <div style="line-height:1.25"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">1,768</span></span></div> </td> <td colspan="1" style="vertical-align:bottom;width:1%;background-color:rgb(204, 238, 255);padding-bottom:4px;vertical-align:bottom;white-space:nowrap"> </td> </tr> <tr> <td style="vertical-align:top;width:76%;padding-bottom:4px;vertical-align:bottom"> <div style="text-align:justify;line-height:1.25"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">Presented in long term deferred tax liabilities</span></span></div> </td> <td colspan="1" style="vertical-align:bottom;width:1%;padding-bottom:4px;vertical-align:bottom"> </td> <td colspan="1" style="vertical-align:bottom;width:1%;border-bottom:4px double rgb(0, 0, 0);vertical-align:bottom"> <div style="line-height:1.25"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">$</span></span></div> </td> <td colspan="1" style="vertical-align:bottom;text-align:right;width:9%;border-bottom:4px double rgb(0, 0, 0);vertical-align:bottom"> <div style="line-height:1.25"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">(8,822</span></span></div> </td> <td colspan="1" style="vertical-align:bottom;width:1%;padding-bottom:4px;vertical-align:bottom;white-space:nowrap"> <div style="line-height:1.25"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">)</span></span></div> </td> <td colspan="1" style="vertical-align:bottom;width:1%;padding-bottom:4px;vertical-align:bottom"> </td> <td colspan="1" style="vertical-align:bottom;width:1%;border-bottom:4px double rgb(0, 0, 0);vertical-align:bottom"> <div style="line-height:1.25"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">$</span></span></div> </td> <td colspan="1" style="vertical-align:bottom;text-align:right;width:9%;border-bottom:4px double rgb(0, 0, 0);vertical-align:bottom"> <div style="line-height:1.25"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">(9,055</span></span></div> </td> <td colspan="1" style="vertical-align:bottom;width:1%;padding-bottom:4px;vertical-align:bottom;white-space:nowrap"> <div style="line-height:1.25"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">)</span></span></div> </td> </tr> </table> </div> </div> 19446000 7397000 10215000 9675000 9332000 11355000 26027000 24689000 18299000 27732000 10629000 9617000 722000 652000 94670000 91117000 24522000 31613000 70148000 59504000 62184000 64859000 2284000 1131000 1148000 801000 65616000 66791000 13354000 1768000 8822000 9055000 <div> <div style="line-height:1.25"> <div style="line-height:1.25"> <div style="line-height:1.25"> <div style="line-height:1.25"> <div style="line-height:1.25"> <div style="line-height:1.25"> <div style="line-height:1.25"> <div> <div style="text-align:justify;line-height:1.25"> <div style="line-height:1.25"> <div style="line-height:1.25"> <div style="line-height:1.25"> <div style="line-height:1.25"> <div style="line-height:1.25"> <div style="line-height:1.25"> <div style="line-height:1.25"> <div> <div style="line-height:1.25"> </div> <div style="line-height:1.25;margin-left:99pt"> <table border="0" cellpadding="0" cellspacing="0" style="width:85%;color:#000000;font-family:'Times New Roman', Times, serif;font-size:10pt;text-align:left"> <tr> <td style="vertical-align:top;font-weight:normal;padding-bottom:2px;vertical-align:bottom"> <div style="line-height:1.25;font-family:'Times New Roman',Times,serif"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">Details</span></span></div> </td> <td colspan="1" style="vertical-align:bottom;padding-bottom:2px;vertical-align:bottom"> </td> <td colspan="2" style="vertical-align:top;border-bottom:#000000 solid 2px;vertical-align:bottom"> <div style="text-align:center;line-height:1.25;font-weight:bold"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">2025</span></span></div> </td> <td colspan="1" style="vertical-align:bottom;padding-bottom:2px;vertical-align:bottom;white-space:nowrap"> </td> <td colspan="1" style="vertical-align:bottom;padding-bottom:2px;vertical-align:bottom"> </td> <td colspan="2" style="vertical-align:top;border-bottom:#000000 solid 2px;vertical-align:bottom"> <div style="text-align:center;line-height:1.25;font-weight:bold"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">Percentages</span></span></div> </td> <td colspan="1" style="vertical-align:bottom;padding-bottom:2px;vertical-align:bottom;white-space:nowrap"> </td> </tr> <tr> <td style="vertical-align:top;width:76%;background-color:rgb(204, 238, 255);vertical-align:bottom"> <div style="line-height:1.25"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">Tax expense computed at statutory rates, see (*) below</span></span></div> </td> <td colspan="1" style="vertical-align:bottom;width:1%;background-color:rgb(204, 238, 255);vertical-align:bottom"> </td> <td colspan="1" style="vertical-align:bottom;width:1%;background-color:rgb(204, 238, 255);vertical-align:bottom"> <div style="line-height:1.25"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">$</span></span></div> </td> <td colspan="1" style="vertical-align:bottom;text-align:right;width:9%;background-color:rgb(204, 238, 255);vertical-align:bottom"> <div style="line-height:1.25"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">55,288</span></span></div> </td> <td colspan="1" style="vertical-align:bottom;width:1%;background-color:rgb(204, 238, 255);vertical-align:bottom;white-space:nowrap"> </td> <td colspan="1" style="vertical-align:bottom;width:1%;background-color:rgb(204, 238, 255);vertical-align:bottom"> </td> <td colspan="1" style="vertical-align:bottom;width:1%;background-color:rgb(204, 238, 255);vertical-align:bottom"> </td> <td colspan="1" style="vertical-align:bottom;text-align:right;width:9%;background-color:rgb(204, 238, 255);vertical-align:bottom"> <div style="line-height:1.25"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">23.0</span></span></div> </td> <td colspan="1" style="vertical-align:bottom;width:1%;background-color:rgb(204, 238, 255);vertical-align:bottom;white-space:nowrap"> <div style="line-height:1.25"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">%</span></span></div> </td> </tr> <tr> <td style="vertical-align:top;width:76%;vertical-align:bottom"> <div style="line-height:1.25"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">Foreign tax effects:</span></span></div> </td> <td colspan="1" style="vertical-align:bottom;width:1%;vertical-align:bottom"> </td> <td colspan="1" style="vertical-align:bottom;width:1%;vertical-align:bottom"> </td> <td colspan="1" style="vertical-align:bottom;text-align:right;width:9%;vertical-align:bottom"> </td> <td colspan="1" style="vertical-align:bottom;width:1%;vertical-align:bottom;white-space:nowrap"> </td> <td colspan="1" style="vertical-align:bottom;width:1%;vertical-align:bottom"> </td> <td colspan="1" style="vertical-align:bottom;width:1%;vertical-align:bottom"> </td> <td colspan="1" style="vertical-align:bottom;text-align:right;width:9%;vertical-align:bottom"> </td> <td colspan="1" style="vertical-align:bottom;width:1%;vertical-align:bottom;white-space:nowrap"> </td> </tr> <tr> <td style="vertical-align:top;width:76%;background-color:rgb(204, 238, 255);vertical-align:bottom"> <div style="text-indent:-27pt;margin-left:39.6pt;line-height:1.25"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span style="text-decoration:underline">U.S</span></span></span></div> </td> <td colspan="1" style="vertical-align:bottom;width:1%;background-color:rgb(204, 238, 255);vertical-align:bottom"> </td> <td colspan="1" style="vertical-align:bottom;width:1%;background-color:rgb(204, 238, 255);vertical-align:bottom"> </td> <td colspan="1" style="vertical-align:bottom;text-align:right;width:9%;background-color:rgb(204, 238, 255);vertical-align:bottom"> </td> <td colspan="1" style="vertical-align:bottom;width:1%;background-color:rgb(204, 238, 255);vertical-align:bottom;white-space:nowrap"> </td> <td colspan="1" style="vertical-align:bottom;width:1%;background-color:rgb(204, 238, 255);vertical-align:bottom"> </td> <td colspan="1" style="vertical-align:bottom;width:1%;background-color:rgb(204, 238, 255);vertical-align:bottom"> </td> <td colspan="1" style="vertical-align:bottom;text-align:right;width:9%;background-color:rgb(204, 238, 255);vertical-align:bottom"> </td> <td colspan="1" style="vertical-align:bottom;width:1%;background-color:rgb(204, 238, 255);vertical-align:bottom;white-space:nowrap"> </td> </tr> <tr> <td style="vertical-align:top;width:76%;vertical-align:bottom"> <div style="text-indent:12.6pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">-      Changes in valuation allowance, see Note 17E below</span></span></div> </td> <td colspan="1" style="vertical-align:bottom;width:1%;vertical-align:bottom"> </td> <td colspan="1" style="vertical-align:bottom;width:1%;vertical-align:bottom"> </td> <td colspan="1" style="vertical-align:bottom;text-align:right;width:9%;vertical-align:bottom"> <div style="line-height:1.25"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">(17,742</span></span></div> </td> <td colspan="1" style="vertical-align:bottom;width:1%;vertical-align:bottom;white-space:nowrap"> <div style="line-height:1.25"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">)</span></span></div> </td> <td colspan="1" style="vertical-align:bottom;width:1%;vertical-align:bottom"> </td> <td colspan="1" style="vertical-align:bottom;width:1%;vertical-align:bottom"> </td> <td colspan="1" style="vertical-align:bottom;text-align:right;width:9%;vertical-align:bottom"> <div style="line-height:1.25"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">(7.4</span></span></div> </td> <td colspan="1" style="vertical-align:bottom;width:1%;vertical-align:bottom;white-space:nowrap"> <div style="line-height:1.25"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">)%</span></span></div> </td> </tr> <tr> <td style="vertical-align:top;width:76%;background-color:rgb(204, 238, 255);vertical-align:bottom"> <div style="line-height:1.25"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">     -       Other adjustments</span></span></div> </td> <td colspan="1" style="vertical-align:bottom;width:1%;background-color:rgb(204, 238, 255);vertical-align:bottom"> </td> <td colspan="1" style="vertical-align:bottom;width:1%;background-color:rgb(204, 238, 255);vertical-align:bottom"> </td> <td colspan="1" style="vertical-align:bottom;text-align:right;width:9%;background-color:rgb(204, 238, 255);vertical-align:bottom"> <div style="line-height:1.25"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">(3,761</span></span></div> </td> <td colspan="1" style="vertical-align:bottom;width:1%;background-color:rgb(204, 238, 255);vertical-align:bottom;white-space:nowrap"> <div style="line-height:1.25"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">)</span></span></div> </td> <td colspan="1" style="vertical-align:bottom;width:1%;background-color:rgb(204, 238, 255);vertical-align:bottom"> </td> <td colspan="1" style="vertical-align:bottom;width:1%;background-color:rgb(204, 238, 255);vertical-align:bottom"> </td> <td colspan="1" style="vertical-align:bottom;text-align:right;width:9%;background-color:rgb(204, 238, 255);vertical-align:bottom"> <div style="line-height:1.25"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">(1.6</span></span></div> </td> <td colspan="1" style="vertical-align:bottom;width:1%;background-color:rgb(204, 238, 255);vertical-align:bottom;white-space:nowrap"> <div style="line-height:1.25"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">)%</span></span></div> </td> </tr> <tr> <td style="vertical-align:top;width:76%;vertical-align:bottom"> <div style="margin-left:12.6pt;line-height:1.25"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">Italy</span></span></div> </td> <td colspan="1" style="vertical-align:bottom;width:1%;vertical-align:bottom"> </td> <td colspan="1" style="vertical-align:bottom;width:1%;vertical-align:bottom"> </td> <td colspan="1" style="vertical-align:bottom;text-align:right;width:9%;vertical-align:bottom"> </td> <td colspan="1" style="vertical-align:bottom;width:1%;vertical-align:bottom;white-space:nowrap"> </td> <td colspan="1" style="vertical-align:bottom;width:1%;vertical-align:bottom"> </td> <td colspan="1" style="vertical-align:bottom;width:1%;vertical-align:bottom"> </td> <td colspan="1" style="vertical-align:bottom;text-align:right;width:9%;vertical-align:bottom"> </td> <td colspan="1" style="vertical-align:bottom;width:1%;vertical-align:bottom;white-space:nowrap"> </td> </tr> <tr> <td style="vertical-align:top;width:76%;background-color:rgb(204, 238, 255);vertical-align:bottom"> <div style="text-indent:12.6pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">-       Changes in valuation allowance, see Note 17E below</span></span></div> </td> <td colspan="1" style="vertical-align:bottom;width:1%;background-color:rgb(204, 238, 255);vertical-align:bottom"> </td> <td colspan="1" style="vertical-align:bottom;width:1%;background-color:rgb(204, 238, 255);vertical-align:bottom"> </td> <td colspan="1" style="vertical-align:bottom;text-align:right;width:9%;background-color:rgb(204, 238, 255);vertical-align:bottom"> <div style="line-height:1.25"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">10,651</span></span></div> </td> <td colspan="1" style="vertical-align:bottom;width:1%;background-color:rgb(204, 238, 255);vertical-align:bottom;white-space:nowrap"> </td> <td colspan="1" style="vertical-align:bottom;width:1%;background-color:rgb(204, 238, 255);vertical-align:bottom"> </td> <td colspan="1" style="vertical-align:bottom;width:1%;background-color:rgb(204, 238, 255);vertical-align:bottom"> </td> <td colspan="1" style="vertical-align:bottom;text-align:right;width:9%;background-color:rgb(204, 238, 255);vertical-align:bottom"> <div style="line-height:1.25"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">4.4</span></span></div> </td> <td colspan="1" style="vertical-align:bottom;width:1%;background-color:rgb(204, 238, 255);vertical-align:bottom;white-space:nowrap"> <div style="line-height:1.25"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">%</span></span></div> </td> </tr> <tr> <td style="vertical-align:top;width:76%;vertical-align:bottom"> <div style="text-indent:12.6pt"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">-       Foreign currency translation impact</span></span></div> </td> <td colspan="1" style="vertical-align:bottom;width:1%;vertical-align:bottom"> </td> <td colspan="1" style="vertical-align:bottom;width:1%;vertical-align:bottom"> </td> <td colspan="1" style="vertical-align:bottom;text-align:right;width:9%;vertical-align:bottom"> <div style="line-height:1.25"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">(8,061</span></span></div> </td> <td colspan="1" style="vertical-align:bottom;width:1%;vertical-align:bottom;white-space:nowrap"> <div style="line-height:1.25"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">)</span></span></div> </td> <td colspan="1" style="vertical-align:bottom;width:1%;vertical-align:bottom"> </td> <td colspan="1" style="vertical-align:bottom;width:1%;vertical-align:bottom"> </td> <td colspan="1" style="vertical-align:bottom;text-align:right;width:9%;vertical-align:bottom"> <div style="line-height:1.25"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">(3.4</span></span></div> </td> <td colspan="1" style="vertical-align:bottom;width:1%;vertical-align:bottom;white-space:nowrap"> <div style="line-height:1.25"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">)%</span></span></div> </td> </tr> <tr> <td style="vertical-align:top;width:76%;background-color:rgb(204, 238, 255);vertical-align:bottom"> <div style="line-height:1.25"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">      -       Other adjustments</span></span></div> </td> <td colspan="1" style="vertical-align:bottom;width:1%;background-color:rgb(204, 238, 255);vertical-align:bottom"> </td> <td colspan="1" style="vertical-align:bottom;width:1%;background-color:rgb(204, 238, 255);vertical-align:bottom"> </td> <td colspan="1" style="vertical-align:bottom;text-align:right;width:9%;background-color:rgb(204, 238, 255);vertical-align:bottom"> <div style="line-height:1.25"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">(87</span></span></div> </td> <td colspan="1" style="vertical-align:bottom;width:1%;background-color:rgb(204, 238, 255);vertical-align:bottom;white-space:nowrap"> <div style="line-height:1.25"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">)</span></span></div> </td> <td colspan="1" style="vertical-align:bottom;width:1%;background-color:rgb(204, 238, 255);vertical-align:bottom"> </td> <td colspan="1" style="vertical-align:bottom;width:1%;background-color:rgb(204, 238, 255);vertical-align:bottom"> </td> <td colspan="1" style="vertical-align:bottom;text-align:right;width:9%;background-color:rgb(204, 238, 255);vertical-align:bottom"> <div style="line-height:1.25"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">0</span></span></div> </td> <td colspan="1" style="vertical-align:bottom;width:1%;background-color:rgb(204, 238, 255);vertical-align:bottom;white-space:nowrap"> <div style="line-height:1.25"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">%</span></span></div> </td> </tr> <tr> <td style="vertical-align:top;width:76%;vertical-align:bottom"> <div style="margin-left:12.6pt;line-height:1.25"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">Other jurisdictions</span></span></div> </td> <td colspan="1" style="vertical-align:bottom;width:1%;vertical-align:bottom"> </td> <td colspan="1" style="vertical-align:bottom;width:1%;vertical-align:bottom"> </td> <td colspan="1" style="vertical-align:bottom;text-align:right;width:9%;vertical-align:bottom"> <div style="line-height:1.25"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">820</span></span></div> </td> <td colspan="1" style="vertical-align:bottom;width:1%;vertical-align:bottom;white-space:nowrap"> </td> <td colspan="1" style="vertical-align:bottom;width:1%;vertical-align:bottom"> </td> <td colspan="1" style="vertical-align:bottom;width:1%;vertical-align:bottom"> </td> <td colspan="1" style="vertical-align:bottom;text-align:right;width:9%;vertical-align:bottom"> <div style="line-height:1.25"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">0.3</span></span></div> </td> <td colspan="1" style="vertical-align:bottom;width:1%;vertical-align:bottom;white-space:nowrap"> <div style="line-height:1.25"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">%</span></span></div> </td> </tr> <tr> <td style="vertical-align:top;width:76%;background-color:rgb(204, 238, 255);vertical-align:bottom"> <div style="line-height:1.25"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">Nontaxable or nondeductible items</span></span></div> </td> <td colspan="1" style="vertical-align:bottom;width:1%;background-color:rgb(204, 238, 255);vertical-align:bottom"> </td> <td colspan="1" style="vertical-align:bottom;width:1%;background-color:rgb(204, 238, 255);vertical-align:bottom"> </td> <td colspan="1" style="vertical-align:bottom;text-align:right;width:9%;background-color:rgb(204, 238, 255);vertical-align:bottom"> <div style="line-height:1.25"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">264</span></span></div> </td> <td colspan="1" style="vertical-align:bottom;width:1%;background-color:rgb(204, 238, 255);vertical-align:bottom;white-space:nowrap"> </td> <td colspan="1" style="vertical-align:bottom;width:1%;background-color:rgb(204, 238, 255);vertical-align:bottom"> </td> <td colspan="1" style="vertical-align:bottom;width:1%;background-color:rgb(204, 238, 255);vertical-align:bottom"> </td> <td colspan="1" style="vertical-align:bottom;text-align:right;width:9%;background-color:rgb(204, 238, 255);vertical-align:bottom"> <div style="line-height:1.25"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">0.1</span></span></div> </td> <td colspan="1" style="vertical-align:bottom;width:1%;background-color:rgb(204, 238, 255);vertical-align:bottom;white-space:nowrap"> <div style="line-height:1.25"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">%</span></span></div> </td> </tr> <tr> <td style="vertical-align:top;width:76%;vertical-align:bottom"> <div style="line-height:1.25"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">Changes in unrecognized tax benefits, see (**) below</span></span></div> </td> <td colspan="1" style="vertical-align:bottom;width:1%;vertical-align:bottom"> </td> <td colspan="1" style="vertical-align:bottom;width:1%;vertical-align:bottom"> </td> <td colspan="1" style="vertical-align:bottom;text-align:right;width:9%;vertical-align:bottom"> <div style="line-height:1.25"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">16,870</span></span></div> </td> <td colspan="1" style="vertical-align:bottom;width:1%;vertical-align:bottom;white-space:nowrap"> </td> <td colspan="1" style="vertical-align:bottom;width:1%;vertical-align:bottom"> </td> <td colspan="1" style="vertical-align:bottom;width:1%;vertical-align:bottom"> </td> <td colspan="1" style="vertical-align:bottom;text-align:right;width:9%;vertical-align:bottom"> <div style="line-height:1.25"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">7.0</span></span></div> </td> <td colspan="1" style="vertical-align:bottom;width:1%;vertical-align:bottom;white-space:nowrap"> <div style="line-height:1.25"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">%</span></span></div> </td> </tr> <tr> <td style="vertical-align:top;width:76%;padding-bottom:2px;background-color:rgb(204, 238, 255);vertical-align:bottom"> <div style="line-height:1.25"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">Preferred Enterprise benefit in Israel</span></span></div> </td> <td colspan="1" style="vertical-align:bottom;width:1%;padding-bottom:2px;background-color:rgb(204, 238, 255);vertical-align:bottom"> </td> <td colspan="1" style="vertical-align:bottom;width:1%;border-bottom:2px solid rgb(0, 0, 0);background-color:rgb(204, 238, 255);vertical-align:bottom"> </td> <td colspan="1" style="vertical-align:bottom;text-align:right;width:9%;border-bottom:2px solid rgb(0, 0, 0);background-color:rgb(204, 238, 255);vertical-align:bottom"> <div style="line-height:1.25"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">(32,673</span></span></div> </td> <td colspan="1" style="vertical-align:bottom;width:1%;padding-bottom:2px;background-color:rgb(204, 238, 255);vertical-align:bottom;white-space:nowrap"> <div style="line-height:1.25"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">)</span></span></div> </td> <td colspan="1" style="vertical-align:bottom;width:1%;padding-bottom:2px;background-color:rgb(204, 238, 255);vertical-align:bottom"> </td> <td colspan="1" style="vertical-align:bottom;width:1%;border-bottom:2px solid rgb(0, 0, 0);background-color:rgb(204, 238, 255);vertical-align:bottom"> </td> <td colspan="1" style="vertical-align:bottom;text-align:right;width:9%;border-bottom:2px solid rgb(0, 0, 0);background-color:rgb(204, 238, 255);vertical-align:bottom"> <div style="line-height:1.25"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">(13.6</span></span></div> </td> <td colspan="1" style="vertical-align:bottom;width:1%;padding-bottom:2px;background-color:rgb(204, 238, 255);vertical-align:bottom;white-space:nowrap"> <div style="line-height:1.25"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">)%</span></span></div> </td> </tr> <tr> <td style="vertical-align:top;width:76%;padding-bottom:4px;vertical-align:bottom"> <div style="line-height:1.25"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">Income tax expense</span></span></div> </td> <td colspan="1" style="vertical-align:bottom;width:1%;padding-bottom:4px;vertical-align:bottom"> </td> <td colspan="1" style="vertical-align:bottom;width:1%;border-bottom:4px double rgb(0, 0, 0);vertical-align:bottom"> <div style="line-height:1.25"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">$</span></span></div> </td> <td colspan="1" style="vertical-align:bottom;text-align:right;width:9%;border-bottom:4px double rgb(0, 0, 0);vertical-align:bottom"> <div style="line-height:1.25"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">21,569</span></span></div> </td> <td colspan="1" style="vertical-align:bottom;width:1%;padding-bottom:4px;vertical-align:bottom;white-space:nowrap"> </td> <td colspan="1" style="vertical-align:bottom;width:1%;padding-bottom:4px;vertical-align:bottom"> </td> <td colspan="1" style="vertical-align:bottom;width:1%;border-bottom:4px double rgb(0, 0, 0);vertical-align:bottom"> </td> <td colspan="1" style="vertical-align:bottom;text-align:right;width:9%;border-bottom:4px double rgb(0, 0, 0);vertical-align:bottom"> <div style="line-height:1.25"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">8.8</span></span></div> </td> <td colspan="1" style="vertical-align:bottom;width:1%;padding-bottom:4px;vertical-align:bottom;white-space:nowrap"> <div style="line-height:1.25"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">%</span></span></div> </td> </tr> </table> </div> <div style="line-height:1.25"> </div> </div> </div> </div> </div> </div> </div> </div> </div> </div> </div> </div> </div> </div> </div> </div> </div> </div> <div style="margin-left:99pt"> <table border="0" cellpadding="0" cellspacing="0" style="width:85%;color:#000000;font-family:'Times New Roman', Times, serif;font-size:10pt;text-align:left"> <tr> <td style="vertical-align:middle;padding-bottom:2px;vertical-align:bottom"> <div style="text-align:justify;line-height:1.25"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">Details</span></span></div> </td> <td colspan="1" style="vertical-align:bottom;padding-bottom:2px;vertical-align:bottom"> </td> <td colspan="2" style="vertical-align:middle;border-bottom:#000000 solid 2px;vertical-align:bottom"> <div style="text-align:center;line-height:1.25"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">2024</span></span></div> </td> <td colspan="1" style="vertical-align:bottom;padding-bottom:2px;vertical-align:bottom;white-space:nowrap"> </td> <td colspan="1" style="vertical-align:bottom;padding-bottom:2px;vertical-align:bottom"> </td> <td colspan="2" style="vertical-align:middle;border-bottom:#000000 solid 2px;vertical-align:bottom"> <div style="text-align:center;line-height:1.25"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">2023</span></span></div> </td> <td colspan="1" style="vertical-align:bottom;padding-bottom:2px;vertical-align:bottom;white-space:nowrap"> </td> </tr> <tr> <td style="vertical-align:top;width:76%;background-color:rgb(204, 238, 255);vertical-align:bottom"> <div style="line-height:1.25"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">Tax expense computed at statutory rates, see (*) below</span></span></div> </td> <td colspan="1" style="vertical-align:bottom;width:1%;background-color:rgb(204, 238, 255);vertical-align:bottom"> </td> <td colspan="1" style="vertical-align:bottom;width:1%;background-color:rgb(204, 238, 255);vertical-align:bottom"> <div style="line-height:1.25"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">$</span></span></div> </td> <td colspan="1" style="vertical-align:bottom;text-align:right;width:9%;background-color:rgb(204, 238, 255);vertical-align:bottom"> <div style="line-height:1.25"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">50,008</span></span></div> </td> <td colspan="1" style="vertical-align:bottom;width:1%;background-color:rgb(204, 238, 255);vertical-align:bottom;white-space:nowrap"> </td> <td colspan="1" style="vertical-align:bottom;width:1%;background-color:rgb(204, 238, 255);vertical-align:bottom"> </td> <td colspan="1" style="vertical-align:bottom;width:1%;background-color:rgb(204, 238, 255);vertical-align:bottom"> <div style="line-height:1.25"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">$</span></span></div> </td> <td colspan="1" style="vertical-align:bottom;text-align:right;width:9%;background-color:rgb(204, 238, 255);vertical-align:bottom"> <div style="line-height:1.25"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">134,514</span></span></div> </td> <td colspan="1" style="vertical-align:bottom;width:1%;background-color:rgb(204, 238, 255);vertical-align:bottom;white-space:nowrap"> </td> </tr> <tr> <td style="vertical-align:top;width:76%;vertical-align:bottom"> <div style="line-height:1.25"> <div style="line-height:1.25;font-family:'Times New Roman',Times,serif"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">Effect of different tax rates in different jurisdictions and Preferred Enterprise Benefit in Israel</span></span></div> </div> </td> <td colspan="1" style="vertical-align:bottom;width:1%;vertical-align:bottom"> </td> <td colspan="1" style="vertical-align:bottom;width:1%;vertical-align:bottom"> </td> <td colspan="1" style="vertical-align:bottom;text-align:right;width:9%;vertical-align:bottom"> <div style="line-height:1.25"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">(36,588</span></span></div> </td> <td colspan="1" style="vertical-align:bottom;width:1%;vertical-align:bottom;white-space:nowrap"> <div style="line-height:1.25"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">)</span></span></div> </td> <td colspan="1" style="vertical-align:bottom;width:1%;vertical-align:bottom"> </td> <td colspan="1" style="vertical-align:bottom;width:1%;vertical-align:bottom"> </td> <td colspan="1" style="vertical-align:bottom;text-align:right;width:9%;vertical-align:bottom"> <div style="line-height:1.25"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">(89,487</span></span></div> </td> <td colspan="1" style="vertical-align:bottom;width:1%;vertical-align:bottom;white-space:nowrap"> <div style="line-height:1.25"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">)</span></span></div> </td> </tr> <tr> <td style="vertical-align:bottom;width:76%;background-color:rgb(204, 238, 255);vertical-align:bottom"> <div style="line-height:1.25"> <div style="line-height:1.25;font-family:'Times New Roman',Times,serif"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">Change in valuation allowance, see Note 17E below</span></span></div> </div> </td> <td colspan="1" style="vertical-align:bottom;width:1%;background-color:rgb(204, 238, 255);vertical-align:bottom"> </td> <td colspan="1" style="vertical-align:bottom;width:1%;background-color:rgb(204, 238, 255);vertical-align:bottom"> </td> <td colspan="1" style="vertical-align:bottom;text-align:right;width:9%;background-color:rgb(204, 238, 255);vertical-align:bottom"> <div style="line-height:1.25"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">11,375</span></span></div> </td> <td colspan="1" style="vertical-align:bottom;width:1%;background-color:rgb(204, 238, 255);vertical-align:bottom;white-space:nowrap"> </td> <td colspan="1" style="vertical-align:bottom;width:1%;background-color:rgb(204, 238, 255);vertical-align:bottom"> </td> <td colspan="1" style="vertical-align:bottom;width:1%;background-color:rgb(204, 238, 255);vertical-align:bottom"> </td> <td colspan="1" style="vertical-align:bottom;text-align:right;width:9%;background-color:rgb(204, 238, 255);vertical-align:bottom"> <div style="line-height:1.25"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">2,697</span></span></div> </td> <td colspan="1" style="vertical-align:bottom;width:1%;background-color:rgb(204, 238, 255);vertical-align:bottom;white-space:nowrap"> </td> </tr> <tr> <td style="vertical-align:bottom;width:76%;padding-bottom:2px;vertical-align:bottom"> <div style="line-height:1.25"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">Permanent differences and other, net</span></span></div> </td> <td colspan="1" style="vertical-align:bottom;width:1%;padding-bottom:2px;vertical-align:bottom"> </td> <td colspan="1" style="vertical-align:bottom;width:1%;border-bottom:2px solid rgb(0, 0, 0);vertical-align:bottom"> </td> <td colspan="1" style="vertical-align:bottom;text-align:right;width:9%;border-bottom:2px solid rgb(0, 0, 0);vertical-align:bottom"> <div style="line-height:1.25"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">(14,590</span></span></div> </td> <td colspan="1" style="vertical-align:bottom;width:1%;padding-bottom:2px;vertical-align:bottom;white-space:nowrap"> <div style="line-height:1.25"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">)</span></span></div> </td> <td colspan="1" style="vertical-align:bottom;width:1%;padding-bottom:2px;vertical-align:bottom"> </td> <td colspan="1" style="vertical-align:bottom;width:1%;border-bottom:2px solid rgb(0, 0, 0);vertical-align:bottom"> </td> <td colspan="1" style="vertical-align:bottom;text-align:right;width:9%;border-bottom:2px solid rgb(0, 0, 0);vertical-align:bottom"> <div style="line-height:1.25"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">17,588</span></span></div> </td> <td colspan="1" style="vertical-align:bottom;width:1%;padding-bottom:2px;vertical-align:bottom;white-space:nowrap"> </td> </tr> <tr> <td style="vertical-align:top;width:76%;padding-bottom:4px;background-color:rgb(204, 238, 255);vertical-align:bottom"> <div style="line-height:1.25"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">Income tax expense</span></span></div> </td> <td colspan="1" style="vertical-align:bottom;width:1%;padding-bottom:4px;background-color:rgb(204, 238, 255);vertical-align:bottom"> </td> <td colspan="1" style="vertical-align:bottom;width:1%;border-bottom:4px double rgb(0, 0, 0);background-color:rgb(204, 238, 255);vertical-align:bottom"> <div style="line-height:1.25"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">$</span></span></div> </td> <td colspan="1" style="vertical-align:bottom;text-align:right;width:9%;border-bottom:4px double rgb(0, 0, 0);background-color:rgb(204, 238, 255);vertical-align:bottom"> <div style="line-height:1.25"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">10,205</span></span></div> </td> <td colspan="1" style="vertical-align:bottom;width:1%;padding-bottom:4px;background-color:rgb(204, 238, 255);vertical-align:bottom;white-space:nowrap"> </td> <td colspan="1" style="vertical-align:bottom;width:1%;padding-bottom:4px;background-color:rgb(204, 238, 255);vertical-align:bottom"> </td> <td colspan="1" style="vertical-align:bottom;width:1%;border-bottom:4px double rgb(0, 0, 0);background-color:rgb(204, 238, 255);vertical-align:bottom"> <div style="line-height:1.25"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">$</span></span></div> </td> <td colspan="1" style="vertical-align:bottom;text-align:right;width:9%;border-bottom:4px double rgb(0, 0, 0);background-color:rgb(204, 238, 255);vertical-align:bottom"> <div style="line-height:1.25"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">65,312</span></span></div> </td> <td colspan="1" style="vertical-align:bottom;width:1%;padding-bottom:4px;background-color:rgb(204, 238, 255);vertical-align:bottom;white-space:nowrap"> </td> </tr> </table> </div> </div> 55288000 0.23 17742000 0.074 3761000 0.016 -10651000 -0.044 8061000 0.034 87000 0 -820000 0.003 264000 0.001 16870000 0.07 32673000 0.136 21569000 0.088 50008000 134514000 -36588000 -89487000 -11375000 -2697000 14590000 -17588000 10205000 65312000 0.23 31000000 22000000 taxable income limitation of 80%. 9000000 9000000 13000000 Original cost includes ROU assets under capital lease in the amount of $140,308 and $153,159 as of December 31, 2025 and 2024, respectively. The depreciation expense of such assets amounted to $13,786 and $15,195 for the years ended December 31, 2025 and 2024, respectively. Include (i) 717,148, 736,014 and 559,184 PSUs as of December 31, 2025, 2024 and 2023, respectively and (ii) 535,809 and 649,249 MSUs as of December 31, 2025 and 2024, respectively. The tax expense was computed based on the Israeli statutory corporate income tax rate of 23%. Represents aggregated revenue to six customers that accounted for between 4% and 7% of total revenue during 2025, to three customers that accounted for between 3% and 9% of total revenue during 2024, and to three customers that accounted for between 3% and 9% of total revenue during 2023.