Company: PENG
Filing Date: 2025-01-08
Form Type: 10-Q
Source: 0001628280-25-000944
Chunk: 38

Company: Penguin Solutions, Inc.
Filing Date: 2025-01-08
Form: 10-Q
Item: Part I, Item 1
Chunk 38
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 ordinary shares for $7.8 million and $12.1 million, respectively, under the Current Authorization. As of November 29, 2024, an aggregate of $69.9 million remained available for the repurchase of our ordinary shares under the Current Authorization. Certain of our agreements, including the Amended Credit Agreement and the Certificate of Designation, contain restrictions that limit our ability to repurchase our ordinary shares.Other Share RepurchasesOrdinary shares withheld as payment of withholding taxes and exercise prices in connection with the vesting or exercise of equity awards are treated as ordinary share repurchases. In the first quarter of 2025 and 2024, we repurchased 213 thousand and 75 thousand ordinary shares as payment of withholding taxes for $3.3 million and $1.1 million, respectively.Accumulated Other Comprehensive Income (Loss)Changes in accumulated other comprehensive income (loss) by component in the first quarter of 2025 were as follows:Gains (Losses)onInvestmentsAs of August 30, 2024$10 Other comprehensive income (loss) before reclassifications9 Reclassifications out of accumulated other comprehensive income— Other comprehensive income (loss)9 As of November 29, 2024$19 

Fair Value MeasurementsAs of November 29, 2024As of August 30, 2024FairValueCarryingValueFairValueCarryingValueAssets:Derivative financial instruments$4,001 $4,001 $3,929 $3,929 Liabilities:Amended 2027 TLA$300,015 $297,561 $300,015 $297,297 2030 Notes191,236 193,066 199,160 192,778 2029 Notes164,118 147,581 178,760 147,439 2026 Notes22,001 19,862 23,918 19,833 

19

The deferred cash adjustment resulting from the divestiture of an 81% interest in SMART Brazil is accounted for as a derivative financial instrument and is revalued at the end of each reporting period. The asset’s fair value, as measured on a recurring basis, was based on Level 2 measurements, including market-based observable inputs of interest rates and credit-risk spreads.

The fair value of the Amended 2027 TLA, as measured on a non-recurring basis, was estimated based on Level 2 measurements