Company: CRUS
Filing Date: 2025-05-23
Form Type: 10-K
Source: 0000772406-25-000014
Chunk: 99

Company: CIRRUS LOGIC, INC.
Filing Date: 2025-05-23
Form: 10-K
Item: Item 8
Chunk 99
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 and the rest of the world. Total net sales based on the geographic disaggregation criteria described are as follows (in thousands):Fiscal Years EndedMarch 29,March 30,March 25,202520242023China$1,126,367 $1,114,310 $1,230,602 United States15,838 17,971 52,688 Rest of World753,872 656,609 614,327 Total$1,896,077 $1,788,890 $1,897,617 See Note 2 - Summary of Significant Accounting Policies for additional discussion surrounding revenue recognition considerations.

10.    Leases

The Company has operating leases for corporate offices and certain office equipment.  Our leases have remaining lease terms of 1 year to 24 years, some of which include options to extend the leases that are considered reasonably certain to be exercised.  There are no residual value guarantees in any of our leases.  No restrictions or covenants have been imposed on the Company as a result of the lease agreements in place.  All of the Company’s leases have been classified as operating leases.  The components of net operating lease expense were as follows (in thousands):Fiscal Years EndedMarch 29, 2025March 30, 2024Operating lease - in excess of 12 months$19,750 $17,498 Variable lease6,137 5,259 Short-term lease351 853 Operating lease income(944)(164)Total net operating lease expense$25,294 $23,446 

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Supplemental operating lease information:Fiscal Years EndedMarch 29, 2025March 30, 2024Balance Sheet Information (in thousands)Operating lease right-of-use assets$126,688 $138,288 Operating lease liabilities$143,719 $155,216 Cash Flow Information (in thousands)Operating cash outflows from operating leases$21,965 $19,189 Non-Cash InformationRight-of-use assets obtained in exchange for new operating lease liabilities3,538 24,784 Lease remeasurements(1,078)(1,606)Lease impairments and other related charges— (563)Operating Lease InformationWeighted-average remaining lease term - operating leases (in years)1112Weighted-average discount rate - operating leases4 %4 %As of March 29, 2025