Company: CALX
Filing Date: 2025-02-21
Form Type: 10-K
Source: 0001406666-25-000008
Chunk: 153

Company: CALIX, INC
Filing Date: 2025-02-21
Form: 10-K
Item: Item 8
Chunk 153
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’s deferred tax assets is dependent on future taxable income against which these deductions, losses and credits can be utilized.The Company must assess the likelihood that deferred tax assets will be recovered from future taxable Income, and if the Company determines that recovery is not more likely than not, the Company must establish a valuation allowance. Management judgment is required in determining its provision for income taxes, deferred tax assets and liabilities and any valuation allowance recorded against its net deferred tax assets.Newly Adopted Accounting StandardsSegment ReportingIn November 2023, the FASB issued Accounting Standards Update (“ASU”) No. 2023-07, Segment Reporting, which expanded annual and interim disclosure requirements for reportable segments. The Company adopted the new standard effective January 1, 2025. See Footnote 12 Segment Information.Recent Accounting Pronouncements Not Yet AdoptedIn December 2023, the FASB issued ASU No. 2023-09, Income Taxes, which prescribes standardized categories and disaggregation of information in the reconciliation of provision for income taxes, requires disclosure of disaggregated income taxes paid and modifies other income tax-related disclosure requirements. The updated standard is effective for the Company beginning with its 2025 annual reporting period. Early adoption is permitted. The Company is currently evaluating the impact that the updated standard will have on its financial statement disclosures.In November 2024, the FASB issued ASU No. 2024-03, Income Statement—Reporting Comprehensive Income—Expense Disaggregation Disclosures, which requires additional disclosure of certain costs and expenses within the notes to the financial statements. The updated standard is effective for the Company’s annual periods beginning in 2027 and interim periods beginning in the first quarter of 2028. Early adoption is permitted. The Company is currently evaluating the impact that the updated standard will have on its financial statement disclosures.There have been no other accounting pronouncements or changes in accounting pronouncements that are significant or potentially significant to the Company.

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2.  Cash, Cash Equivalents and Marketable Securities

Cash, cash equivalents and marketable securities consisted of the following (in thousands):December 31,20242023Cash and cash equivalents:Cash$20,664 $18,040 Commercial paper10,058 32,837 U.S. government securities7,550 9,969 Money market funds4,890 2,563 Total cash and cash equivalents43,162 63,409 Marketable securities:Corporate debt securities123,701 7,