Thermon Group Holdings, Inc. Annual report [Section 13 and 15(d), not S-K Item 405]

Organization and Summary of Significant Accounting Policies (Tables)

12 Months Ended

Mar. 31, 2026


	March 31, 2026		March 31, 2025		March 31, 2024
Cash and cash equivalents	$	52,275	$	39,537	$	48,631
Restricted cash included in prepaid expenses and other current assets	5,574		1,885		1,800
Total cash, cash equivalents, and restricted cash shown in the statement of cash flows	$	57,849	$	41,422	$	50,431

The following table summarizes the annual changes in our allowance for credit losses:


Balance at March 31, 2024		$	1,428
	Additions to reserve	819
	Write-off of uncollectible accounts	(1,017)
Balance at March 31, 2025		$	1,230
	Additions to reserve	415
	Write-off of uncollectible accounts	(290)
Balance at March 31, 2026		$	1,355

Depreciation is computed using the straight-line method over the following useful lives:


	Years
Buildings and improvements	10	-	30
Machinery and equipment	3	-	25
Office furniture and equipment	3	-	10
Internally developed software	5	-	7

Property, plant and equipment, net consisted of the following:


	March 31,
	2026		2025
Land, buildings and improvements	$	63,989	$	60,233
Machinery and equipment	68,130		61,079
Office furniture and equipment	21,367		18,945
Internally developed software	5,213		5,213
Construction in progress	2,974		3,127
Property, plant and equipment at cost	161,673		148,597
Accumulated depreciation	(81,934)		(75,773)
Property, plant and equipment, net	$	79,739	$	72,824