Company: CRL
Filing Date: 2025-11-05
Form Type: 10-Q
Source: 0001100682-25-000043
Chunk: 44

Company: CHARLES RIVER LABORATORIES INTERNATIONAL, INC.
Filing Date: 2025-11-05
Form: 10-Q
Item: Item 2
Chunk 44
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, results of operations, and cash flows. As the U.S. dollar strengthens against other currencies, the value of our non-U.S. revenue, expenses, assets, liabilities, and cash flows will generally decline when reported in U.S. dollars. The impact to net income as a result of a U.S. dollar strengthening will be partially mitigated by the value of non-U.S. expenses, which will decline when reported in U.S. dollars. As the U.S. dollar weakens versus other currencies, the value of the non-U.S. revenue, expenses, assets, liabilities, and cash flows will generally increase when reported in U.S. dollars. For the nine months ended September 27, 2025, our revenue would have decreased by $99.8 million, and our operating income would have decreased by $3.9 million, if the U.S. dollar exchange rate had strengthened by 10%, with all other variables held constant.

We attempt to minimize this exposure by using certain financial instruments in accordance with our overall risk management and our hedge policy. We do not enter into speculative derivative agreements.

Repurchases of Common Stock

During the nine months ended September 27, 2025, we repurchased 2.1 million shares of common stock for $350.0 million under the stock repurchase program. As of September 27, 2025, we had $549.3 million remaining on the authorized $1.0 billion stock repurchase program. On October 29, 2025, our Board of Directors approved a new stock repurchase authorization of $1.0 billion. This new authorization replaces the prior stock repurchase authorization of $1.0 billion that had $549.3 million remaining on the plan when it was terminated.

Additionally, our stock-based compensation plans permit the netting of common stock upon vesting of restricted stock, restricted stock units, and performance share units in order to satisfy individual statutory tax withholding requirements. During the nine months ended September 27, 2025, we acquired 0.1 million shares for $9.9 million through such netting.

Critical Accounting Policies and Estimates

Our discussion and analysis of our financial condition and results of operations is based upon our consolidated financial statements prepared in accordance with generally accepted accounting principles in the U.S. The preparation of these financial 

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CHARLES RIVER LABORATORIES INTERNATIONAL, INC.

statements requires us to make certain estimates and assumptions that may affect the reported amounts of assets and liabilities, the