Company: STAA
Filing Date: 2025-02-21
Form Type: 10-K
Source: 0000950170-25-024813
Chunk: 109

Company: STAAR SURGICAL CO
Filing Date: 2025-02-21
Form: 10-K
Item: Item 1B
Chunk 109
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 of the Consolidated Financial Statements.The Company’s chief operating decision maker (“CODM”) has been identified as the Chief Executive Officer and President. The CODM assesses performance for the ophthalmic surgical product segment by comparing actual results to forecasts and decides how to allocate resources, i.e., headcount and compensation, based on net income or on operating results, if a net loss, that is reported on the Consolidated Statements of Operations.The measure of segment assets is reported on the balance sheet as total consolidated assets. See “Note 1 – Organization and Description of Business and Accounting Policies – Concentration of Credit Risk and Sales,” “Note 16 – Disaggregation of Revenues, Geographic Sales and Product Sales” and “Note 17 – Geographic Assets” for specific information regarding the Company’s sales and long-lived assets.

F-9

STAAR SURGICAL COMPANY AND SUBSIDIARIES NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (CONTINUED) 

Note 1 — Organization and Description of Business and Accounting Policies (Continued)Foreign CurrencyThe functional currency of STAAR Japan is the Japanese yen. The functional currency of STAAR AG is the U.S. dollar.Assets and liabilities of STAAR Japan are translated at rates of exchange in effect at the close of the period. Sales and expenses are translated at the weighted average of exchange rates in effect during the period. Net foreign translation gain (loss) was as follows (in thousands): 

          Years Ended

          2024

          2023

          2022

          Foreign currency translation loss(1)
           
          $
          (1,775
          )
           
          $
          (1,095
          )
           
          $
          (2,090
          )

          Loss on foreign currency transactions(2)

          (3,675
          )

          (1,909
          )

          (1,707
          )
         
         (1)	Shown as a separate line item on the Consolidated Statements of Comprehensive Income (Loss).(2)	Shown as a separate line item on the Consolidated Statements of Operations.Cash and Cash Equivalents Cash and cash equivalents include cash and balances in deposits and money market accounts held at banks and financial institutions with original maturities of three months or less.  Such balances generally exceed the federal insurance limits; however, the Company periodically assesses the financial condition of the institutions and believes that the risk of any loss is minimal. The book value