Company: CRUS
Filing Date: 2025-05-23
Form Type: 10-K
Source: 0000772406-25-000014
Chunk: 42

Company: CIRRUS LOGIC, INC.
Filing Date: 2025-05-23
Form: 10-K
Item: Item 1A
Chunk 42
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 news, commentary, and rumors emanating from the media relating to our customers, the industry, or us.  These reports may be unrelated to the actual operating performance of the Company, and in some cases, may be potentially misleading or incorrect;- announcements regarding technological innovations or new products by us or our competitors;- announcements by us of significant acquisitions, strategic partnerships, joint ventures, or capital commitments;- announcements by us of significant divestitures or sale of certain assets or intellectual property;

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- litigation arising out of a wide variety of matters, including, employment matters and intellectual property matters;- departure of key personnel;- a significant stockholder selling for any reason;- general conditions in the IC industry; and- general market conditions and interest rates.

Our foreign currency exposures may change over time as the level of activity in foreign markets grows and could have an adverse impact upon financial results.

              As a global enterprise, we face exposure to adverse movements in foreign currency exchange rates.  Certain of our assets, including certain bank accounts, exist in non-U.S. dollar-denominated currencies, which are sensitive to foreign currency exchange rate fluctuations.  The principal non-U.S. dollar-denominated currency is the British Pound Sterling.  We also have a significant number of employees that are paid in foreign currency, the largest group being U.K.-based employees who are paid in British Pounds Sterling.              If the value of the U.S. dollar weakens relative to these specific currencies, the cost of doing business in terms of U.S. dollars rises.  With the growth of our international business, our foreign currency exposures may grow and under certain circumstances, could harm our business.              If we do not hedge against these risks, or our attempts to hedge against these risks are not successful, our financial condition and results of operations could be adversely affected.

Our debt obligations may be a burden on our future cash flows and cash resources.

              On July 8, 2021, the Company entered into a second amended and restated credit agreement (the “Second Amended Credit Agreement”) which provides for a $300 million senior secured revolving credit facility (the “Revolving Credit Facility”). The Revolving Credit Facility matures on July 8, 2026 (the “Maturity Date”).  As of March 29, 2025, the Company did not have an outstanding balance under the Revolving Credit Facility.  To the extent the Company has an outstanding balance, our ability to repay the principal of, to pay interest on, or to refinance our indebted