XML 37 R29.htm IDEA: XBRL DOCUMENT
v3.25.3

Related Parties | 9 Months Ended
--- | ---
Sep. 30, 2025
Related Party Transactions [Abstract] |
Related Parties | Note 18 – Re lated Parties Åkers TISCO Roll Co., Ltd. (“ATR”), a 59.88% indirectly owned joint venture of UES, periodically has loans outstanding with its minority shareholder. No borrowings were outstanding as of September 30, 2025 or 2024. Loan activity for the nine months ended September 30, 2025 and 2024 was as follows:
|  | Nine Months Ended September 30, |
|  | 2025 |  |  | 2025 |  |  | 2024 |  |  | 2024 |
|  | USD |  |  | RMB |  |  | USD |  |  | RMB |
Balance at beginning of the period |  | $ | — |  |  |  | — |  |  | $ | 665 |  |  |  | 4,713 |
Borrowings |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |
Repayments |  |  | — |  |  |  | — |  |  |  | (664 | ) |  |  | (4,713 | )
Foreign exchange |  |  | — |  |  |  | — |  |  |  | (1 | ) |  |  | — |
Balance at end of the period |  | $ | — |  |  |  | — |  |  | $ | — |  |  |  | — |
Interest on borrowings accrues at the three-to-five-year loan interest rate set by the People’s Bank of China, which approximated 4.35% for the nine months ended September 30, 2024. For the nine months ended September 30, 2024, ATR paid $2 (RMB 17) of interest. No interest was outstanding as of September 30, 2025 or December 31, 2024. ATR has sales to and purchases from ATR’s minority shareholder and its affiliates and sales to a shareholder of one of the Corporation’s other joint ventures in China and its affiliates. These sales and purchases, which were in the ordinary course of business, for the three and nine months ended September 30, 2025 and 2024 were as follows:
|  | Three Months Ended September 30, |
|  | 2025 |  |  | 2025 |  |  | 2024 |  |  | 2024 |
|  | USD |  |  | RMB |  |  | USD |  |  | RMB |
Purchases from related parties |  | $ | 2,657 |  |  |  | 19,066 |  |  | $ | 1,994 |  |  |  | 14,221 |
Sales to related parties |  | $ | 4,261 |  |  |  | 30,491 |  |  | $ | 4,094 |  |  |  | 29,156 |
|  | Nine Months Ended September 30, |
|  | 2025 |  |  | 2025 |  |  | 2024 |  |  | 2024 |
|  | USD |  |  | RMB |  |  | USD |  |  | RMB |
Purchases from related parties |  | $ | 6,669 |  |  |  | 48,136 |  |  | $ | 5,132 |  |  |  | 36,809 |
Sales to related parties |  | $ | 13,471 |  |  |  | 97,231 |  |  | $ | 12,267 |  |  |  | 87,980 |
Balances outstanding with ATR’s minority shareholder including its affiliates and the other joint venture’s shareholder and its affiliates as of September 30, 2025 and December 31, 2024 were as follows:
|  | September 30, 2025 |  |  | September 30, 2025 |  |  | December 31, 2024 |  |  | December 31, 2024 |
|  | USD |  |  | RMB |  |  | USD |  |  | RMB |
Accounts receivable from related parties |  | $ | 2,166 |  |  |  | 15,424 |  |  | $ | 1,839 |  |  |  | 13,422 |
Accounts payable to related parties |  | $ | 502 |  |  |  | 3,574 |  |  | $ | 411 |  |  |  | 3,001 |
The manufacturing facilities of ATR are located on land leased by ATR from the other partner. The land lease commenced in 2007, the date the joint venture was formed, and continues through 2054, the expected end date of the joint venture, and includes variable lease payments based on the land standard price prevailing in Taiyuan, China, where the joint venture is located. Rent paid by ATR to the other partner approximated $31 (RMB 223) for each of the three months ended September 30, 2025 and 2024 and $94 (RMB 669) for each of the nine months ended September 30, 2025 and 2024, which is included in purchases from related parties.

X
- References No definition available. + Details
Name: | us-gaap_RelatedPartyTransactionsAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- Definition The entire disclosure for related party transactions. Examples of related party transactions include transactions between (a) a parent company and its subsidiary; (b) subsidiaries of a common parent; (c) and entity and its principal owners; and (d) affiliates. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Topic 850 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 1 -Subparagraph (d) -Publisher FASB -URI https://asc.fasb.org/1943274/2147483326/850-10-50-1 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Topic 946 -SubTopic 20 -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Publisher FASB -URI https://asc.fasb.org/1943274/2147480990/946-20-50-2 Reference 3: http://www.xbrl.org/2003/role/disclosureRef -Topic 946 -SubTopic 20 -Name Accounting Standards Codification -Section 50 -Paragraph 5 -Publisher FASB -URI https://asc.fasb.org/1943274/2147480990/946-20-50-5 Reference 4: http://www.xbrl.org/2003/role/disclosureRef -Topic 946 -SubTopic 20 -Name Accounting Standards Codification -Section 50 -Paragraph 6 -Publisher FASB -URI https://asc.fasb.org/1943274/2147480990/946-20-50-6 Reference 5: http://www.xbrl.org/2003/role/disclosureRef -Topic 946 -SubTopic 235 -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Subparagraph (c) -Publisher FASB -URI https://asc.fasb.org/1943274/2147477968/946-235-50-2 Reference 6: http://www.xbrl.org/2003/role/disclosureRef -Topic 946 -SubTopic 235 -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Subparagraph (e) -Publisher FASB -URI https://asc.fasb.org/1943274/2147477968/946-235-50-2 Reference 7: http://www.xbrl.org/2003/role/disclosureRef -Topic 946 -SubTopic 220 -Name Accounting Standards Codification -Section S99 -Paragraph 1 -Subparagraph (SX 210.6-07(2)(g)(3)) -Publisher FASB -URI https://asc.fasb.org/1943274/2147479134/946-220-S99-1 Reference 8: http://www.xbrl.org/2003/role/disclosureRef -Topic 946 -SubTopic 220 -Name Accounting Standards Codification -Section S99 -Paragraph 1 -Subparagraph (SX 210.6-07(2)(c)) -Publisher FASB -URI https://asc.fasb.org/1943274/2147479134/946-220-S99-1 Reference 9: http://www.xbrl.org/2003/role/disclosureRef -Topic 946 -SubTopic 220 -Name Accounting Standards Codification -Section S99 -Paragraph 1 -Subparagraph (SX 210.6-07(2)(e)) -Publisher FASB -URI https://asc.fasb.org/1943274/2147479134/946-220-S99-1 Reference 10: http://www.xbrl.org/2003/role/disclosureRef -Topic 850 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org/850/tableOfContent Reference 11: http://www.xbrl.org/2003/role/disclosureRef -Topic 850 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 6 -Publisher FASB -URI https://asc.fasb.org/1943274/2147483326/850-10-50-6 Reference 12: http://www.xbrl.org/2003/role/disclosureRef -Topic 850 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 1 -Subparagraph (a) -Publisher FASB -URI https://asc.fasb.org/1943274/2147483326/850-10-50-1 Reference 13: http://www.xbrl.org/2003/role/disclosureRef -Topic 850 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 1 -Subparagraph (b) -Publisher FASB -URI https://asc.fasb.org/1943274/2147483326/850-10-50-1 + Details
Name: | us-gaap_RelatedPartyTransactionsDisclosureTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration