Company: COHU
Filing Date: 2025-02-20
Form Type: 10-K
Source: 0001437749-25-004612
Chunk: 130

Company: COHU INC
Filing Date: 2025-02-20
Form: 10-K
Item: Item 1
Chunk 130
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ized on Derivatives

			2024

			2023

			2022

			Foreign exchange forward contracts

			AOCI

			$
			964

			N/A

			N/A

Gains recognized in foreign transaction gain (loss), in the consolidated statements of operations for the portion of the net investment hedges excluded from the assessment of hedge effectiveness was $0.7 million for fiscal 2024. Since our net investment hedge program started in fiscal 2024 there were no amounts recorded in fiscal 2023 or fiscal 2022.

Cash flows associated with settlements of our non-designated foreign currency forward contracts are reported in net cash provided by operating activities and our net investment hedges are included in investing activities in our consolidated statements of cash flows.

Fair Value

The fair value of our foreign currency forward contracts was determined based on current foreign currency exchange rates and forward points. All our foreign currency forward contracts outstanding on December 28, 2024 will mature during the first quarter of fiscal 2025.

The following table provides information about our foreign currency forward contracts outstanding as of December 28, 2024 (in thousands):

			Currency

			Contract

			Position

			Contract Amount

			(Local Currency)

			Contract Amount

			(U.S. Dollars)

			Euro

			Buy

			27,472

			28,700

			Swiss Franc

			Buy

			8,716

			9,700

			South Korean Won

			Buy

			2,208,855

			1,500

			Japanese Yen

			Buy

			157,380

			1,000

			Euro
			
			Sell

			54,250

			60,500

			Swiss Franc

			Sell

			11,752

			14,000

Our foreign currency contracts are classified within Level 2 of the fair value hierarchy as they are valued using pricing models that utilize observable market inputs. The fair value of our foreign currency contracts as of December 28, 2024 was immaterial.

			9.

			Equity

Share Repurchase Program

On October 28, 2021, we announced that our Board of Directors authorized a $70 million share repurchase program. This share repurchase program was effective as of November 2, 2021, and has