Company: CRUS
Filing Date: 2025-05-23
Form Type: 10-K
Source: 0000772406-25-000014
Chunk: 98

Company: CIRRUS LOGIC, INC.
Filing Date: 2025-05-23
Form: 10-K
Item: Item 8
Chunk 98
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a) the ratio of consolidated funded indebtedness (minus up to $200 million of unrestricted cash and cash equivalents available on such date) to consolidated EBITDA for the prior four consecutive quarters must not be greater than 3.00 to 1.00 (the “Consolidated Net Leverage Ratio”) and (b) the ratio of consolidated EBITDA for the prior four consecutive quarters to consolidated interest expense paid or payable in cash for the prior four consecutive quarters must not be less than 3.00 to 1.00 (the “Consolidated Interest Coverage Ratio”).  The Second Amended Credit Agreement also contains negative covenants limiting the Company's or any Subsidiary's ability to, among other things, incur debt, grant liens, make investments, effect certain fundamental changes, make certain asset dispositions, and make certain restricted payments.  Further, the Second Amended Credit Agreement contains customary affirmative covenants, including, among others, covenants regarding the payment of taxes and other obligations, maintenance of insurance, reporting requirements, and compliance with applicable laws and regulations.    As of March 29, 2025, the Company had no amounts outstanding under the Revolving Credit Facility and was in compliance with all covenants under the Second Amended Credit Agreement. As of March 29, 2025, future interest payment obligations based on forecasted commitment fees under the Revolving Credit Facility were as follows (in thousands):  Fiscal Year2026$532 2027277 2028— 2029— 2030— Thereafter— Total$809 

9.    Revenues

Disaggregation of revenue We disaggregate revenue from contracts with customers by product line and ship to location of the customer.  Sales are designated in the product line categories of Audio and High-Performance Mixed-Signal ("HPMS").  

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Total net sales based on the product line disaggregation criteria described above are shown in the table below (in thousands).  Fiscal Years EndedMarch 29, 2025March 30, 2024March 25, 2023Audio Products$1,137,157 $1,083,939 $1,172,007 HPMS Products758,920 704,951 725,610 Total$1,896,077 $1,788,890 $1,897,617 The geographic regions that are reviewed are China, the United States,