Company: CRUS
Filing Date: 2025-02-04
Form Type: 10-Q
Source: 0000772406-25-000007
Chunk: 16

Company: CIRRUS LOGIC, INC.
Filing Date: 2025-02-04
Form: 10-Q
Item: Item 2
Chunk 16
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 capital expenditures, share repurchases, and strategic acquisitions.  Our principal sources of liquidity are cash on hand, cash generated from operations, cash generated from the sale and maturity of marketable securities, and available borrowings under our $300 million Revolving Credit Facility. 

Cash generated from our operating activities is net income adjusted for certain non-cash items and changes in working capital.  Cash generated from operations was $314.0 million for the first nine months of fiscal year 2025 versus $251.1 million generated for the corresponding period of fiscal year 2024.  The cash flow from operations during the first nine months of fiscal year 2025 was related to the cash components of our net income and a $57.4 million unfavorable change in working capital, primarily as a result of increases in accounts receivables and inventory, partially offset by increases in prepaid wafer usage (related to the Capacity Reservation Agreement), income taxes payable, and accounts payable and other accrued liabilities.  The cash flow from operations during the corresponding period of fiscal year 2024 was related to the cash components of our net income and an $87.4 million unfavorable change in working capital, primarily as a result of an increase in accounts receivables and inventory and decreases in accounts payable and other accrued liabilities and acquisition-related liabilities, partially offset by prepaid wafer usage (related to the Capacity Reservation Agreement) beginning in the second quarter of fiscal year 2024.       

Net cash used in investing activities was $111.2 million during the first nine months of fiscal year 2025 versus $60.8 million during the first nine months of fiscal year 2024.  The cash used in investing activities in the first nine months of fiscal year 2025 was related to net purchases of marketable securities of $91.6 million and capital expenditures and technology investments of $19.6 million.  The cash used in investing activities in the corresponding period in fiscal year 2024 was related to capital expenditures and technology investments of $30.7 million and net purchases of marketable securities of $30.1 million. 

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Net cash used in financing activities was $179.1 million during the first nine months of fiscal year 2025 and was primarily associated with stock repurchases for the period of $161.0 million.  The cash used in financing activities during the first nine months of fiscal year 2024 of $152.2 million was primarily associated with stock repurchases during the period of $