CIRRUS LOGIC, INC.CRUS

CIRRUS LOGIC, INC. Segments Disclosure

10-KFiled May 21, 20262 min read
Segment Information
We determine our operating segments in accordance with Financial Accounting Standards Board ("FASB") guidelines. Our Chief Executive Officer ("CEO") has been identified as the CODM under these guidelines.
The Company operates and tracks its results in one reportable segment, but reports revenue performance in two product lines: Audio and HPMS. Our CEO receives and uses enterprise-wide financial information to assess financial performance and allocate resources. Our product lines have similar characteristics and customers and share operations support functions such as sales, public relations, supply chain management, various research and development and engineering support, in addition to the general and administrative functions of human resources, legal, finance and information technology. Therefore, there is no complete, discrete financial information maintained for these product lines. Revenue by product line is disclosed in Note 9 - Revenues.
The CODM allocates resources and evaluates Company performance based on net income. This information is used to measure profitability, make budgeting and forecasting decisions, monitor performance trends, and to compare actual results to forecasts. The CODM regularly reviews the consolidated statement of income and a disaggregation of operating expenses, with a focus on personnel-related and product development costs. The measure of segment assets is reported on the balance sheet as total consolidated assets.
The table below presents the Company's significant segment operating expenses (in thousands):
Fiscal Years Ended
March 28,
2026		March 29,
2025		March 30,
2024
Personnel-related (1)368,936 353,338 333,559 
Product development (2)59,547 64,946 65,912 
Other segment items (3)165,309 167,395 173,135 
Total Operating Expense$593,792 $585,679 $572,606 

(1) Personnel-related expenses include variable compensation and employee-related expenses, which primarily include employee base pay and benefit expenses.
(2) Product development costs include software, engineering mask sets, wafers, and boards, as well as outside design services.
(3) Other segment items primarily include stock-based compensation, facilities-related costs, depreciation and amortization, and non-recurring charges, offset by the benefit received from research and development expenditure credits.

Geographic Area
The Company's geographic details of revenue and property, plant and equipment are included below.
The following illustrates net sales by ship to location of the customer (in thousands):
 Fiscal Years Ended
March 28,
2026		March 29,
2025		March 30,
2024
China$1,066,874 $1,126,367 $1,114,310 
India313,751 205,902 125,138 
Hong Kong222,736 196,530 219,053 
Vietnam185,060 123,073 96,080 
South Korea120,022 142,655 119,532 
United States14,870 15,838 17,971 
Rest of World74,066 85,712 96,806 
Total consolidated net sales$1,997,379 $1,896,077 $1,788,890 
The following illustrates property, plant and equipment, net, by geographic locations, based on physical location (in thousands):
 Fiscal Years Ended
March 28,
2026		March 29,
2025
United States$122,232 $133,383 
United Kingdom12,081 13,570 
Rest of World9,662 12,947 
Total consolidated property, plant and equipment, net$143,975 $159,900 

Historical Timeline

Fiscal YearFiled
2026May 21, 2026Showing above
2025May 23, 2025
2024May 24, 2024
2023May 19, 2023
2022May 20, 2022
2021May 21, 2021
2020May 20, 2020
2019May 24, 2019
2018May 30, 2018
2017May 24, 2017
2016May 25, 2016

About Segments Disclosures

Segment disclosures break a company into its reportable operating units, revealing revenue, profit, and asset allocation that consolidated financial statements obscure. Under ASC 280, segments must match how the chief operating decision maker views the business, providing a window into internal management structure and resource allocation priorities.

Key signals: compare segment margins to identify which units drive profitability and which destroy value. Watch for changes in the number of reportable segments — segment aggregation or disaggregation often coincides with strategic shifts or attempts to obscure declining performance. Intersegment elimination patterns reveal internal pricing practices. The reconciliation between segment totals and consolidated figures exposes corporate overhead allocation and unallocated items. Geographic revenue concentration highlights regulatory and currency exposure. Compare segment-level capital expenditure against segment revenue to assess where management is investing for future growth versus harvesting existing assets.

Other Available Disclosures

Income TaxesRevenueFair ValuePP&EGoodwill & IntangiblesLeasesDebtCommitmentsStock CompensationNew StandardsPay vs Performance