Company: CRUS
Filing Date: 2025-05-23
Form Type: 10-K
Source: 0000772406-25-000014
Chunk: 110

Company: CIRRUS LOGIC, INC.
Filing Date: 2025-05-23
Form: 10-K
Item: Item 8
Chunk 110
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 the Company announced that the Board of Directors authorized the repurchase of up to $500 million of the Company's common stock.  During the fiscal year ended March 29, 2025, the Company repurchased 2.3 million shares of its common stock under the 2022 authorization for $261.0 million, at an average cost of $112.33 per share. All of these shares were repurchased in the open market and were funded from existing cash.  All shares of our common stock that were repurchased were retired as of March 29, 2025.  As of March 29, 2025, $54.1 million remains available for repurchase under the 2022 authorization.  Additionally, in March 2025, the Board of Directors authorized the repurchase of up to an additional $500 million of the Company's common stock.  No shares have been repurchased under the 2025 authorization as of March 29, 2025.Preferred StockWe have 5.0 million shares of Preferred Stock authorized.  As of March 29, 2025, we have not issued any of the authorized shares.

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16.    Accumulated Other Comprehensive Loss

Our accumulated other comprehensive loss is comprised of foreign currency translation adjustments, unrealized gains and losses on investments classified as available-for-sale, and cumulative effects of adopting new accounting standards.The following table summarizes the changes in the components of accumulated other comprehensive loss, net of tax (in thousands):ForeignCurrencyUnrealized Gains(Losses) on SecuritiesCumulative Effect of Adoption of ASU 2018-02TotalBalance, March 25, 2023$(1,047)$(1,235)$(257)$(2,539)Current period foreign exchange translation(850)— — (850)Current period marketable securities activity— 996 — 996 Tax effect— (210)— (210)Balance, March 30, 2024$(1,897)$(449)$(257)$(2,603)Current period foreign exchange translation(566)— — (566)Current period marketable securities activity— 2,514 — 2,514 Tax effect— (528)— (528)Balance, March 29, 2025$(2,463)$1,537 $(257)$(1,183)

17.    Income Taxes

Income (loss) before income taxes