Company: TSEM
Filing Date: 2025-04-30
Form Type: 20-F
Source: 0001178913-25-001537
Chunk: 291

Company: TOWER SEMICONDUCTOR LTD
Filing Date: 2025-04-30
Form: 20-F
Item: Item 19
Chunk 291
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 interest ( 3,033
Total $73,977
E. Operating Lease Agreements
The Company enters into operating leases from time to time, primarily with regard to certain of its operating and other facilities. Operating lease cost for the years ended December 31, 2024, 2023 and 2022 was $4,592, $4,807and $5,867, respectively. During 2024, cash paid for operating lease liabilities was $4,439.
The following presents the composition of operating leases in the balance sheets:
Details Presentation in the Consolidated Balance Sheets December 31, December 31,
2024 2023
────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────
ROU - assets under operating leases Other long-term assets, net $ 7,874 $ 9,762
Lease liabilities:
Current operating lease liabilities Current maturities of long-term debt $ 3,913 $ 3,450
Long-term operating lease liabilities Long-term debt 3,961 6,312
Total operating lease liabilities $ 7,874 $ 9,762
Weighted average remaining lease term (years) 2.6 3.3
Weighted average discount rate 1.95 1.94
The following presents the maturity presentation of operating lease liabilities as of December 31, 2024:
Fiscal Year Amount ($)
2025 $ 3,927
2026 3,161
2027 916
Total 8,004
Less - imputed interest ( 130
Total $ 7,874

NOTE 11:FINANCIAL INSTRUMENTS AND FAIR VALUE MEASUREMENTS

The Company makes certain disclosures as detailed below with regards to financial instruments, including derivatives. These disclosures include, among other matters, the nature and terms of derivative transactions, information about significant concentrations of credit risk and the fair value of financial assets and liabilities.

The Company formally designates qualifying derivatives as hedge relationships (“hedges”) and applies hedge accounting when considered appropriate. The Company does not use derivative financial instruments for trading or speculative purposes.

A. Exchange Rate Transactions

As the functional currency of the Company is the USD and a portion of Tower’s expenses are denominated in NIS, the Company enters into exchange rate agreements from time to time to partially hedge the volatility of future cash flows caused by changes in foreign exchange rates on NIS-denominated expenses. The exchange rate