Company: PENG
Filing Date: 2025-04-02
Form Type: 10-Q
Source: 0001628280-25-016182
Chunk: 100

Company: Penguin Solutions, Inc.
Filing Date: 2025-04-02
Form: 10-Q
Item: Part II, Item 8
Chunk 100
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 $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 six months of 2025 and 2024, we repurchased 634 thousand and 931 thousand ordinary shares for $11.1 million and $13.9 million, respectively, under the Current Authorization. As of February 28, 2025, an aggregate of $66.6 million remained available for the repurchase of our ordinary shares under the Current Authorization. Certain of our agreements, including the Amended Credit Agreement, the SKT Purchase Agreement and the CPS 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 six months of 2025 and 2024, we repurchased 368 thousand and 113 thousand ordinary shares as payment of withholding taxes for $6.5 million and $1.9 million, respectively.Accumulated Other Comprehensive Income (Loss)Changes in accumulated other comprehensive income (loss) by component in the first six months of 2025 were as follows:Gains (Losses)onInvestmentsAs of August 30, 2024$10 Other comprehensive income (loss) before reclassifications7 Reclassifications out of accumulated other comprehensive income— Other comprehensive income (loss)7 As of February 28, 2025$17 

Fair Value MeasurementsFairValueCarryingValueFairValueCarryingValueAs ofFebruary 28, 2025August 30, 2024Assets:Derivative financial instruments$4,073 $4,073 $3,929 $3,929 Liabilities:Amended 2027 TLA$300,015 $297,821 $300,015 $297,297 2030 Notes$199,144 $193,355 $199,160 $192,778 2029 Notes$173,255 $147,724 $178,760 $147,439 2026 Notes$23,254 $19,891 $23,918 $19,833 

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The deferred cash adjustment resulting from the divestiture of