Keysight reports $100 million IEEPA tariff-refund receivable

Keysight Technologies reported a $100 million receivable for previously paid IEEPA tariffs and accrued statutory interest in its quarterly filing. The company said it recorded offsets of $93 million to cost of sales, $4 million to selling, general and administrative expense, and $3 million to interest income. It also recorded a $40 million liability after deciding to refund tariff surcharges collected from customers. Keysight said it had received $37 million in refund proceeds by July 31, leaving $64 million of claims receivable outstanding.