Company: PENG
Filing Date: 2025-01-08
Form Type: 10-Q
Source: 0001628280-25-000944
Chunk: 83

Company: Penguin Solutions, Inc.
Filing Date: 2025-01-08
Form: 10-Q
Item: Part II, Item 8
Chunk 83
---
 or otherwise. On January 9, 2024, we announced that the Audit Committee of the Board of Directors approved an additional $75.0 million share repurchase authorization (the “Additional Authorization,” and together with the Initial Authorization, the “Current Authorization”). The Current Authorization has no expiration date but may be suspended or terminated by the Board of Directors at any time. In the first quarter of 2025 and 2024, we repurchased 467 thousand and 825 thousand ordinary shares for $7.8 million and $12.1 million, respectively, under the Current Authorization. As of November 29, 2024, an aggregate of $69.9 million remained available for the repurchase of our ordinary shares under the Current Authorization. Certain of our agreements, including the Amended Credit Agreement and the Certificate of Designation, contain restrictions that limit our ability to repurchase our ordinary shares.Other Share RepurchasesOrdinary shares withheld as payment of withholding taxes and exercise prices in connection with the vesting or exercise of equity awards are treated as ordinary share repurchases. In the first quarter of 2025 and 2024, we repurchased 213 thousand and 75 thousand ordinary shares as payment of withholding taxes for $3.3 million and $1.1 million, respectively.Accumulated Other Comprehensive Income (Loss)Changes in accumulated other comprehensive income (loss) by component in the first quarter of 2025 were as follows:Gains (Losses)onInvestmentsAs of August 30, 2024$10 Other comprehensive income (loss) before reclassifications9 Reclassifications out of accumulated other comprehensive income— Other comprehensive income (loss)9 As of November 29, 2024$19 

Fair Value MeasurementsAs of November 29, 2024As of August 30, 2024FairValueCarryingValueFairValueCarryingValueAssets:Derivative financial instruments$4,001 $4,001 $3,929 $3,929 Liabilities:Amended 2027 TLA$300,015 $297,561 $300,015 $297,297 2030 Notes191,236 193,066 199,160 192,778 2029 Notes164,118 147,581 178,760 147,439 2026 Notes22,001 19,862 23,918 19,833 

19

The deferred cash adjustment resulting