Company: CALX
Filing Date: 2025-02-21
Form Type: 10-K
Source: 0001406666-25-000008
Chunk: 91

Company: CALIX, INC
Filing Date: 2025-02-21
Form: 10-K
Item: Item 1B
Chunk 91
---
 Customer advances or rebates4,882 5,967 Operating leases4,303 4,142 Product returns2,428 2,897 Insurance2,019 2,107 Operations1,735 1,080 Freight1,640 1,510 Litigation settlement— 3,250 Other6,580 8,662 $84,167 $116,227 

49

Changes in the Company’s accrued warranty and retrofit liability were as follows (in thousands): Years Ended December 31,202420232022Balance at beginning of year$8,029 $8,386 $9,594 Provision for warranty and retrofit charged to cost of revenue2,268 3,282 1,315 Utilization of reserve(3,010)(3,639)(2,523)Balance at end of year$7,287 $8,029 $8,386 

5.  Commitments and Contingencies

Lease CommitmentsThe Company leases office space under non-cancelable operating leases. Certain of the Company’s operating leases contain renewal options and rent acceleration clauses. Future minimum payments under the non-cancelable operating leases for leases that have commenced consisted of the following as of December 31, 2024 (in thousands):Year Ending December 31, Future Minimum Lease Payments2025$4,528 20261,659 20271,235 2028707 2029 and thereafter340 Total future minimum lease payments8,469 Less imputed interest(446)$8,023 As of December 31, 2024, the operating lease liability consisted of the following (in thousands):Accrued liabilities - current portion of operating leases$4,303 Operating leases3,720 $8,023 The Company leases its headquarters office space in San Jose, California under a lease agreement that expires in December 2025. The future minimum lease payments under the lease are $2.5 million as of December 31, 2024 and are included in the tables above. In December 2024, the Company entered into a new headquarters office lease agreement for 23,000 square feet in San Jose, California. The lease is expected to commence in August 2025 for a term of 90 months. The future minimum lease payments of $8.9 million are not included in the table above.The above tables also include future minimum