2024 Q3 Form 10-K Financial Statement

#000095017024100261 Filed on August 23, 2024

View on sec.gov

Income Statement

Concept 2024 Q3 2024 Q2 2024
Revenue $257.7M $247.4M $959.4M
YoY Change 8.41% 8.84% -29.2%
Cost Of Revenue $136.8M $134.0M $519.6M
YoY Change 4.75% 6.26% -18.71%
Gross Profit $120.9M $113.4M $439.8M
YoY Change 12.89% 12.06% -38.57%
Gross Profit Margin 46.92% 45.84% 45.84%
Selling, General & Admin $50.00M $38.10M $161.3M
YoY Change 18.2% -17.53% -7.83%
% of Gross Profit 41.36% 33.6% 36.68%
Research & Development $81.30M $84.40M $336.3M
YoY Change -6.01% -0.12% -4.24%
% of Gross Profit 67.25% 74.43% 76.47%
Depreciation & Amortization $31.80M $28.50M $109.2M
YoY Change 4.26% 235.29% 208.47%
% of Gross Profit 26.3% 25.13% 24.83%
Operating Expenses $149.3M $126.4M $541.4M
YoY Change 11.17% -9.2% -3.6%
Operating Profit -$28.40M -$13.00M -$101.6M
YoY Change 4.41% -65.79% -165.85%
Interest Expense $11.70M -$6.300M $65.30M
YoY Change -316.67% 0.0% 17.66%
% of Operating Profit
Other Income/Expense, Net -$3.500M -$25.00M
YoY Change -8433.33%
Pretax Income -$34.30M -$36.70M -$124.6M
YoY Change -15.52% -17.16% -198.89%
Income Tax -$11.20M -$245.0M -$250.2M
% Of Pretax Income
Net Earnings -$23.10M $208.3M $125.6M
YoY Change -58.45% -990.17% 70.65%
Net Earnings / Revenue -8.96% 84.2% 13.09%
Basic Earnings Per Share -$0.58 $3.20
Diluted Earnings Per Share -$0.58 $5.02 $3.16
COMMON SHARES
Basic Shares Outstanding 39.58M 39.50M 39.20
Diluted Shares Outstanding 39.80M shares 39.70

Balance Sheet

Concept 2024 Q3 2024 Q2 2024
SHORT-TERM ASSETS
Cash & Short-Term Investments $853.6M $876.9M $876.9M
YoY Change 3.54% -6.14% -6.14%
Cash & Equivalents $853.6M $876.9M $876.9M
Short-Term Investments $0.00 $0.00
Other Short-Term Assets $29.40M $27.80M $27.80M
YoY Change -28.81% -24.04% -24.04%
Inventory $119.6M $114.0M $114.0M
Prepaid Expenses
Receivables $135.8M $142.4M $143.6M
Other Receivables $0.00 $0.00 $0.00
Total Short-Term Assets $1.140B $1.162B $1.162B
YoY Change 2.82% -8.62% -8.62%
LONG-TERM ASSETS
Property, Plant & Equipment $79.50M $75.50M $122.3M
YoY Change 17.95% 13.7% 84.19%
Goodwill $816.4M $816.4M
YoY Change 0.0% 0.0%
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $133.2M $90.00M $435.6M
YoY Change -39.4% -17.51% 175.52%
Total Long-Term Assets $1.651B $1.663B $1.663B
YoY Change 4211.49% 24.14% 24.14%
TOTAL ASSETS
Total Short-Term Assets $1.140B $1.162B $1.162B
Total Long-Term Assets $1.651B $1.663B $1.663B
Total Assets $2.791B $2.825B $2.825B
YoY Change 9.51% 8.18% 8.18%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $83.30M $87.50M $87.50M
YoY Change 30.36% 91.05% 91.05%
Accrued Expenses $136.4M $126.8M $126.8M
YoY Change 32.43% -17.82% -17.82%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00 $0.00
YoY Change
Long-Term Debt Due $6.000M $6.000M $6.000M
YoY Change 0.0% 0.0% 0.0%
Total Short-Term Liabilities $253.9M $277.2M $277.2M
YoY Change 3.42% 6.57% 6.57%
LONG-TERM LIABILITIES
Long-Term Debt $965.9M $966.9M $966.9M
YoY Change -0.38% -0.52% -0.52%
Other Long-Term Liabilities $104.1M $76.20M $86.20M
YoY Change -19.49% -43.93% -36.57%
Total Long-Term Liabilities $1.070B $1.043B $1.053B
YoY Change -2.63% -5.85% -4.95%
TOTAL LIABILITIES
Total Short-Term Liabilities $253.9M $277.2M $277.2M
Total Long-Term Liabilities $1.070B $1.043B $1.053B
Total Liabilities $1.324B $1.358B $1.358B
YoY Change -1.52% -0.72% -0.72%
SHAREHOLDERS EQUITY
Retained Earnings $1.215B $1.238B
YoY Change 14.96% 11.29%
Common Stock $1.131B $1.107B
YoY Change 10.24% 9.69%
Preferred Stock
YoY Change
Treasury Stock (at cost) $878.0M
YoY Change 0.0%
Treasury Stock Shares
Shareholders Equity $1.467B $1.467B $1.467B
YoY Change
Total Liabilities & Shareholders Equity $2.791B $2.825B $2.825B
YoY Change 9.51% 8.18% 8.18%

Cashflow Statement

Concept 2024 Q3 2024 Q2 2024
OPERATING ACTIVITIES
Net Income -$23.10M $208.3M $125.6M
YoY Change -58.45% -990.17% 70.65%
Depreciation, Depletion And Amortization $31.80M $28.50M $109.2M
YoY Change 4.26% 235.29% 208.47%
Cash From Operating Activities -$11.40M $65.00M $135.9M
YoY Change -125.11% -31.22% -59.0%
INVESTING ACTIVITIES
Capital Expenditures $9.100M $11.50M $33.80M
YoY Change -93.34% 121.15% -1.17%
Acquisitions $0.00
YoY Change -100.0%
Other Investing Activities $0.00 $500.0K $9.900M
YoY Change -100.0% -98.17% -65.98%
Cash From Investing Activities -$9.100M -$11.00M -$157.7M
YoY Change -93.94% -149.77% 2528.33%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net $0.00
YoY Change -100.0%
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -$3.500M -4.700M -25.10M
YoY Change -80.66% -94.6% -88.66%
NET CHANGE
Cash From Operating Activities -$11.40M 65.00M 135.9M
Cash From Investing Activities -$9.100M -11.00M -157.7M
Cash From Financing Activities -$3.500M -4.700M -25.10M
Net Change In Cash -$23.30M 49.30M -46.90M
YoY Change -81.03% 67.12% -146.57%
FREE CASH FLOW
Cash From Operating Activities -$11.40M $65.00M $135.9M
Capital Expenditures $9.100M $11.50M $33.80M
Free Cash Flow -$20.50M $53.50M $102.1M
YoY Change -77.55% -40.09% -65.66%

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CY2023 us-gaap Increase Decrease In Employee Related Liabilities
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CY2022 us-gaap Increase Decrease In Employee Related Liabilities
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CY2022 us-gaap Increase Decrease In Accrued Income Taxes Payable
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CY2023 us-gaap Increase Decrease In Other Accrued Liabilities
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CY2022 us-gaap Increase Decrease In Other Accrued Liabilities
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CY2024 us-gaap Net Cash Provided By Used In Operating Activities
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CY2023 us-gaap Net Cash Provided By Used In Operating Activities
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CY2022 us-gaap Net Cash Provided By Used In Operating Activities
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CY2023 us-gaap Payments To Acquire Businesses Net Of Cash Acquired
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CY2024 syna Proceeds From Maturity Of Investments
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CY2024 us-gaap Proceeds From Sale Maturity And Collections Of Investments
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CY2023 us-gaap Proceeds From Sale Maturity And Collections Of Investments
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CY2022 us-gaap Proceeds From Sale Maturity And Collections Of Investments
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CY2024 us-gaap Payments To Acquire Short Term Investments
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CY2023 us-gaap Payments To Acquire Short Term Investments
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CY2022 us-gaap Payments To Acquire Short Term Investments
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CY2024 us-gaap Payments To Acquire Property Plant And Equipment
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CY2023 us-gaap Payments To Acquire Property Plant And Equipment
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CY2022 us-gaap Payments To Acquire Property Plant And Equipment
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CY2024 us-gaap Payments To Acquire Intangible Assets
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CY2022 us-gaap Payments To Acquire Intangible Assets
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CY2024 us-gaap Proceeds From Sale Of Equity Method Investments
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CY2023 us-gaap Proceeds From Sale Of Equity Method Investments
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CY2022 us-gaap Proceeds From Sale Of Equity Method Investments
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CY2024 us-gaap Proceeds From Sale Of Other Assets Investing Activities
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CY2023 us-gaap Proceeds From Sale Of Other Assets Investing Activities
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CY2022 us-gaap Proceeds From Sale Of Other Assets Investing Activities
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CY2024 us-gaap Net Cash Provided By Used In Investing Activities
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CY2023 us-gaap Net Cash Provided By Used In Investing Activities
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CY2022 us-gaap Net Cash Provided By Used In Investing Activities
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CY2024 us-gaap Proceeds From Issuance Of Debt
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CY2023 us-gaap Proceeds From Issuance Of Debt
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CY2022 us-gaap Proceeds From Issuance Of Debt
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CY2024 us-gaap Payments Of Debt Issuance Costs
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CY2023 us-gaap Payments Of Debt Issuance Costs
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CY2022 us-gaap Payments Of Debt Issuance Costs
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CY2024 us-gaap Proceeds From Issuance Of Shares Under Incentive And Share Based Compensation Plans Including Stock Options
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CY2023 us-gaap Proceeds From Issuance Of Shares Under Incentive And Share Based Compensation Plans Including Stock Options
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CY2022 us-gaap Proceeds From Issuance Of Shares Under Incentive And Share Based Compensation Plans Including Stock Options
ProceedsFromIssuanceOfSharesUnderIncentiveAndShareBasedCompensationPlansIncludingStockOptions
15200000
CY2024 syna Payment For Payroll Taxes Related To Net Share Settlement Of Share Based Awards
PaymentForPayrollTaxesRelatedToNetShareSettlementOfShareBasedAwards
36900000
CY2023 syna Payment For Payroll Taxes Related To Net Share Settlement Of Share Based Awards
PaymentForPayrollTaxesRelatedToNetShareSettlementOfShareBasedAwards
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CY2022 syna Payment For Payroll Taxes Related To Net Share Settlement Of Share Based Awards
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CY2024 us-gaap Payments For Repurchase Of Common Stock
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CY2023 us-gaap Payments For Repurchase Of Common Stock
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CY2022 us-gaap Payments For Repurchase Of Common Stock
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CY2024 us-gaap Proceeds From Repayments Of Secured Debt
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CY2023 us-gaap Proceeds From Repayments Of Secured Debt
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CY2022 us-gaap Proceeds From Repayments Of Secured Debt
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CY2024 syna Payment For Redemption Of Convertible Notes
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CY2023 syna Payment For Redemption Of Convertible Notes
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0
CY2022 syna Payment For Redemption Of Convertible Notes
PaymentForRedemptionOfConvertibleNotes
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CY2024 syna Refundable Deposit Paid To Vendor
RefundableDepositPaidToVendor
0
CY2023 syna Refundable Deposit Paid To Vendor
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CY2022 syna Refundable Deposit Paid To Vendor
RefundableDepositPaidToVendor
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CY2024 us-gaap Proceeds From Payments For Other Financing Activities
ProceedsFromPaymentsForOtherFinancingActivities
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CY2023 us-gaap Proceeds From Payments For Other Financing Activities
ProceedsFromPaymentsForOtherFinancingActivities
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CY2022 us-gaap Proceeds From Payments For Other Financing Activities
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CY2024 us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
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CY2023 us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
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CY2022 us-gaap Net Cash Provided By Used In Financing Activities
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CY2024 us-gaap Effect Of Exchange Rate On Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
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CY2023 us-gaap Effect Of Exchange Rate On Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
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CY2022 us-gaap Effect Of Exchange Rate On Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
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CY2024 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect Continuing Operations
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CY2023 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect Continuing Operations
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffectContinuingOperations
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CY2022 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect Continuing Operations
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffectContinuingOperations
-12300000
CY2023Q2 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
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CY2022Q2 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
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CY2021Q2 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
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CY2024Q2 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
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CY2023Q2 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
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CY2022Q2 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
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CY2024 us-gaap Proceeds From Income Tax Refunds
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CY2023 us-gaap Proceeds From Income Tax Refunds
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CY2022 us-gaap Proceeds From Income Tax Refunds
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CY2024 us-gaap Interest Paid Net
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CY2023 us-gaap Interest Paid Net
InterestPaidNet
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CY2022 us-gaap Interest Paid Net
InterestPaidNet
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CY2024 us-gaap Capital Expenditures Incurred But Not Yet Paid
CapitalExpendituresIncurredButNotYetPaid
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CY2023 us-gaap Capital Expenditures Incurred But Not Yet Paid
CapitalExpendituresIncurredButNotYetPaid
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CY2022 us-gaap Capital Expenditures Incurred But Not Yet Paid
CapitalExpendituresIncurredButNotYetPaid
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CY2024 syna Receipt Of Intangible Assets From Advance Payment Made In Previous Fiscal Year
ReceiptOfIntangibleAssetsFromAdvancePaymentMadeInPreviousFiscalYear
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CY2023 syna Receipt Of Intangible Assets From Advance Payment Made In Previous Fiscal Year
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CY2022 syna Receipt Of Intangible Assets From Advance Payment Made In Previous Fiscal Year
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0
CY2024 us-gaap Use Of Estimates
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<p style="font-size:10pt;margin-top:12pt;font-family:Times New Roman;margin-bottom:0;text-align:justify;"><span style="color:#000000;white-space:pre-wrap;font-size:10pt;font-family:Times New Roman;font-style:italic;min-width:fit-content;">Use of Estimates</span></p><p style="text-indent:4.533%;font-size:10pt;margin-top:6pt;font-family:Times New Roman;margin-bottom:0;text-align:justify;"><span style="color:#000000;white-space:pre-wrap;font-size:10pt;font-family:Times New Roman;min-width:fit-content;">The preparation of consolidated financial statements in conformity with U.S. GAAP requires us to make estimates and judgments that affect the reported amounts of assets, liabilities, revenue, expenses, and related disclosure of contingent assets and liabilities. On an ongoing basis, we evaluate our estimates, including those related to revenue, allowance for doubtful accounts, cost of revenue, inventories, loss on purchase commitments, product warranty, accrued liabilities, share-based compensation costs, provision for income taxes, deferred income tax asset, valuation allowances, uncertain tax positions, goodwill, intangible assets, investments, and loss contingencies. We base our estimates on historical experience, applicable laws and regulations, and various other assumptions that we believe to be reasonable under the circumstances, the results of which form the basis for making judgments about the carrying value of assets and liabilities that are not readily apparent from other sources. Actual results may differ from these estimates under different assumptions or conditions.</span></p>
CY2024Q2 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
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CY2023Q2 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
924700000
CY2024 us-gaap Concentration Risk Credit Risk
ConcentrationRiskCreditRisk
<p style="font-size:10pt;margin-top:12pt;font-family:Times New Roman;margin-bottom:0;text-align:justify;"><span style="color:#000000;white-space:pre-wrap;font-size:10pt;font-family:Times New Roman;font-style:italic;min-width:fit-content;">Concentration of Credit Risk</span></p><p style="text-indent:4.533%;font-size:10pt;margin-top:6pt;font-family:Times New Roman;margin-bottom:0;text-align:justify;"><span style="color:#000000;white-space:pre-wrap;font-size:10pt;font-family:Times New Roman;min-width:fit-content;">Financial instruments that potentially subject us to concentrations of credit risk consist primarily of cash equivalents, investments, and accounts receivable. Our investment policy, which is predicated on capital preservation and liquidity, limits investments to U.S. government treasuries and agency issues, taxable securities, and municipal issued securities with a minimum rating of investment grade by the rating agencies.</span><span style="color:#000000;white-space:pre-wrap;font-size:10pt;font-family:Times New Roman;min-width:fit-content;"> </span></p><p style="text-indent:4.533%;font-size:10pt;margin-top:6pt;font-family:Times New Roman;margin-bottom:0;text-align:justify;"><span style="color:#000000;white-space:pre-wrap;font-size:10pt;font-family:Times New Roman;min-width:fit-content;">We sell our products to contract manufacturers that provide manufacturing services for OEMs, to some OEMs directly, and to distributors. We extend credit based on an evaluation of a customer’s financial condition, and we generally do not require collateral.</span></p><div style="font-size:10pt;font-family:Times New Roman;"><p style="text-indent:4.533%;font-size:10pt;margin-top:6pt;font-family:Times New Roman;margin-bottom:0;text-align:justify;"><span style="color:#000000;white-space:pre-wrap;font-size:10pt;font-family:Times New Roman;min-width:fit-content;">The following customers accounted for more than 10% of our accounts receivable balance as of the end of fiscal </span><span style="color:#000000;white-space:pre-wrap;font-size:10pt;font-family:Times New Roman;min-width:fit-content;">2024 and 2023:</span></p> <table style="margin-left:auto;border-spacing:0;table-layout:fixed;width:79.0%;border-collapse:separate;margin-right:auto;"> <tr style="visibility:collapse;"> <td style="width:53.218%;"></td> <td style="width:2.103%;"></td> <td style="width:21.287%;"></td> <td style="width:2.103%;"></td> <td style="width:21.287%;"></td> </tr> <tr style="background-color:#ffffff;white-space:pre-wrap;word-break:break-word;"> <td style="vertical-align:bottom;"><p style="font-size:10pt;margin-top:0;font-family:Times New Roman;margin-bottom:0;text-align:left;"><span style="white-space:pre-wrap;min-width:fit-content;"> </span></p></td> <td style="vertical-align:bottom;text-align:center;"><p style="font-size:10pt;margin-top:0;font-family:Times New Roman;margin-bottom:0;text-align:right;"><span style="white-space:pre-wrap;min-width:fit-content;"> </span></p></td> <td style="vertical-align:bottom;text-align:left;"><p style="font-size:10pt;margin-top:0;font-family:Times New Roman;margin-bottom:0;text-align:center;"><span style="white-space:pre-wrap;min-width:fit-content;"> </span></p></td> <td style="vertical-align:bottom;"><p style="font-size:10pt;margin-top:0;font-family:Times New Roman;margin-bottom:0;text-align:left;"><span style="white-space:pre-wrap;min-width:fit-content;"> </span></p></td> <td style="vertical-align:bottom;text-align:left;"><p style="font-size:10pt;margin-top:0;font-family:Times New Roman;margin-bottom:0;text-align:center;"><span style="white-space:pre-wrap;min-width:fit-content;"> </span></p></td> </tr> <tr style="height:10pt;background-color:#ffffff;white-space:pre-wrap;word-break:break-word;"> <td style="vertical-align:bottom;"><p style="font-size:10pt;margin-top:0;font-family:Times New Roman;margin-bottom:0;text-align:left;"><span style="white-space:pre-wrap;min-width:fit-content;"> </span></p></td> <td style="vertical-align:bottom;text-align:center;"><p style="font-size:10pt;margin-top:0;font-family:Times New Roman;margin-bottom:0;text-align:right;"><span style="white-space:pre-wrap;min-width:fit-content;"> </span></p></td> <td style="vertical-align:bottom;border-bottom:0.5pt solid #000000;text-align:left;"><p style="font-size:10pt;margin-top:0;font-family:Times New Roman;margin-bottom:0;text-align:center;"><span style="color:#000000;white-space:pre-wrap;min-width:fit-content;">2024</span></p></td> <td style="vertical-align:bottom;border-bottom:0.5pt solid #ffffff03;text-align:right;"><p style="font-size:10pt;margin-top:0;font-family:Times New Roman;margin-bottom:0;text-align:justify;"><span style="white-space:pre-wrap;min-width:fit-content;"> </span></p></td> <td style="vertical-align:bottom;border-bottom:0.5pt solid #000000;text-align:left;"><p style="font-size:10pt;margin-top:0;font-family:Times New Roman;margin-bottom:0;text-align:center;"><span style="color:#000000;white-space:pre-wrap;min-width:fit-content;">2023</span></p></td> </tr> <tr style="background-color:#ffffff;white-space:pre-wrap;word-break:break-word;"> <td style="vertical-align:bottom;"><p style="font-size:10pt;margin-top:0;font-family:Times New Roman;margin-bottom:0;text-align:left;"><span style="white-space:pre-wrap;min-width:fit-content;"> </span></p></td> <td style="vertical-align:bottom;text-align:center;"><p style="font-size:10pt;margin-top:0;font-family:Times New Roman;margin-bottom:0;text-align:right;"><span style="white-space:pre-wrap;min-width:fit-content;"> </span></p></td> <td style="vertical-align:bottom;text-align:left;"><p style="font-size:10pt;margin-top:0;font-family:Times New Roman;margin-bottom:0;text-align:center;"><span style="white-space:pre-wrap;min-width:fit-content;"> </span></p></td> <td style="vertical-align:bottom;text-align:right;"><p style="font-size:10pt;margin-top:0;font-family:Times New Roman;margin-bottom:0;text-align:justify;"><span style="white-space:pre-wrap;min-width:fit-content;"> </span></p></td> <td style="vertical-align:bottom;text-align:left;"><p style="font-size:10pt;margin-top:0;font-family:Times New Roman;margin-bottom:0;text-align:center;"><span style="white-space:pre-wrap;min-width:fit-content;"> </span></p></td> </tr> <tr style="height:10pt;background-color:#cff0fc;white-space:pre-wrap;word-break:break-word;"> <td style="vertical-align:bottom;"><p style="font-size:10pt;margin-top:0;font-family:Times New Roman;margin-bottom:0;text-align:left;"><span style="color:#000000;white-space:pre-wrap;min-width:fit-content;">Customer A</span></p></td> <td style="vertical-align:bottom;text-align:center;"><p style="font-size:10pt;margin-top:0;font-family:Times New Roman;margin-bottom:0;text-align:right;"><span style="color:#000000;white-space:pre-wrap;min-width:fit-content;"> </span></p></td> <td style="vertical-align:bottom;text-align:left;"><p style="font-size:10pt;margin-top:0;font-family:Times New Roman;margin-bottom:0;text-align:center;"><span style="color:#000000;white-space:pre-wrap;min-width:fit-content;">*</span></p></td> <td style="vertical-align:bottom;text-align:center;"><p style="font-size:10pt;margin-top:0;font-family:Times New Roman;margin-bottom:0;text-align:right;"><span style="white-space:pre-wrap;min-width:fit-content;"> </span></p></td> <td style="vertical-align:bottom;text-align:left;"><p style="font-size:10pt;margin-top:0;font-family:Times New Roman;margin-bottom:0;text-align:center;"><span style="color:#000000;white-space:pre-wrap;min-width:fit-content;">10</span><span style="color:#000000;white-space:pre-wrap;min-width:fit-content;">%</span></p></td> </tr> <tr style="height:10pt;background-color:#ffffff;white-space:pre-wrap;word-break:break-word;"> <td style="vertical-align:bottom;"><p style="font-size:10pt;margin-top:0;font-family:Times New Roman;margin-bottom:0;text-align:left;"><span style="color:#000000;white-space:pre-wrap;min-width:fit-content;">Customer B</span></p></td> <td style="vertical-align:bottom;text-align:center;"><p style="font-size:10pt;margin-top:0;font-family:Times New Roman;margin-bottom:0;text-align:right;"><span style="white-space:pre-wrap;min-width:fit-content;"> </span></p></td> <td style="vertical-align:bottom;text-align:left;"><p style="font-size:10pt;margin-top:0;font-family:Times New Roman;margin-bottom:0;text-align:center;"><span style="color:#000000;white-space:pre-wrap;min-width:fit-content;">12</span><span style="color:#000000;white-space:pre-wrap;min-width:fit-content;">%</span></p></td> <td style="vertical-align:bottom;text-align:center;"><p style="font-size:10pt;margin-top:0;font-family:Times New Roman;margin-bottom:0;text-align:right;"><span style="white-space:pre-wrap;min-width:fit-content;"> </span></p></td> <td style="vertical-align:bottom;text-align:left;"><p style="font-size:10pt;margin-top:0;font-family:Times New Roman;margin-bottom:0;text-align:center;"><span style="color:#000000;white-space:pre-wrap;min-width:fit-content;">20</span><span style="color:#000000;white-space:pre-wrap;min-width:fit-content;">%</span></p></td> </tr> <tr style="height:10pt;background-color:#cff0fc;white-space:pre-wrap;word-break:break-word;"> <td style="vertical-align:bottom;"><p style="font-size:10pt;margin-top:0;font-family:Times New Roman;margin-bottom:0;text-align:left;"><span style="color:#000000;white-space:pre-wrap;min-width:fit-content;">Customer C</span></p></td> <td style="vertical-align:bottom;"><p style="font-size:10pt;margin-top:0;font-family:Times New Roman;margin-bottom:0;text-align:left;"><span style="white-space:pre-wrap;min-width:fit-content;"> </span></p></td> <td style="vertical-align:bottom;text-align:left;"><p style="font-size:10pt;margin-top:0;font-family:Times New Roman;margin-bottom:0;text-align:center;"><span style="color:#000000;white-space:pre-wrap;min-width:fit-content;">12</span><span style="color:#000000;white-space:pre-wrap;min-width:fit-content;">%</span></p></td> <td style="vertical-align:bottom;text-align:center;"><p style="font-size:10pt;margin-top:0;font-family:Times New Roman;margin-bottom:0;text-align:right;"><span style="white-space:pre-wrap;min-width:fit-content;"> </span></p></td> <td style="vertical-align:bottom;text-align:left;"><p style="font-size:10pt;margin-top:0;font-family:Times New Roman;margin-bottom:0;text-align:center;"><span style="color:#000000;white-space:pre-wrap;min-width:fit-content;">*</span></p></td> </tr> <tr style="height:10pt;background-color:#ffffff;white-space:pre-wrap;word-break:break-word;"> <td style="vertical-align:bottom;"><p style="font-size:10pt;margin-top:0;font-family:Times New Roman;margin-bottom:0;text-align:left;"><span style="color:#000000;white-space:pre-wrap;min-width:fit-content;">Customer D</span></p></td> <td style="vertical-align:bottom;text-align:center;"><p style="font-size:10pt;margin-top:0;font-family:Times New Roman;margin-bottom:0;text-align:right;"><span style="white-space:pre-wrap;font-family:Arial;min-width:fit-content;"> </span></p></td> <td style="vertical-align:bottom;text-align:left;"><p style="font-size:10pt;margin-top:0;font-family:Times New Roman;margin-bottom:0;text-align:center;"><span style="color:#000000;white-space:pre-wrap;min-width:fit-content;">18</span><span style="color:#000000;white-space:pre-wrap;min-width:fit-content;">%</span></p></td> <td style="vertical-align:bottom;"><p style="font-size:10pt;margin-top:0;font-family:Times New Roman;margin-bottom:0;text-align:left;"><span style="white-space:pre-wrap;font-family:Arial;min-width:fit-content;"> </span></p></td> <td style="vertical-align:bottom;text-align:left;"><p style="font-size:10pt;margin-top:0;font-family:Times New Roman;margin-bottom:0;text-align:center;"><span style="color:#000000;white-space:pre-wrap;min-width:fit-content;">*</span></p></td> </tr> </table></div>
CY2024 us-gaap Revenue Performance Obligation Description Of Payment Terms
RevenuePerformanceObligationDescriptionOfPaymentTerms
Payments are generally due within three months of completion of the performance obligation and subsequent invoicing and, therefore, do not include significant financing components.
CY2024Q2 us-gaap Contract With Customer Asset Net
ContractWithCustomerAssetNet
1200000
CY2023Q2 us-gaap Contract With Customer Asset Net
ContractWithCustomerAssetNet
1300000
CY2024Q2 us-gaap Contract With Customer Liability
ContractWithCustomerLiability
14700000
CY2024Q2 us-gaap Contract With Customer Refund Liability
ContractWithCustomerRefundLiability
43500000
CY2023Q2 us-gaap Contract With Customer Liability
ContractWithCustomerLiability
18700000
CY2023Q2 us-gaap Contract With Customer Refund Liability
ContractWithCustomerRefundLiability
39800000
CY2024 us-gaap Contract With Customer Liability Revenue Recognized
ContractWithCustomerLiabilityRevenueRecognized
4900000
CY2023 us-gaap Contract With Customer Liability Revenue Recognized
ContractWithCustomerLiabilityRevenueRecognized
21900000
CY2024Q2 us-gaap Revenue Remaining Performance Obligation
RevenueRemainingPerformanceObligation
0
CY2024 syna Account Receivable Bad Debt Charge
AccountReceivableBadDebtCharge
4200000
CY2023 syna Account Receivable Bad Debt Charge
AccountReceivableBadDebtCharge
5000000
CY2024Q2 us-gaap Inventory Work In Process And Raw Materials Net Of Reserves
InventoryWorkInProcessAndRawMaterialsNetOfReserves
69500000
CY2023Q2 us-gaap Inventory Work In Process And Raw Materials Net Of Reserves
InventoryWorkInProcessAndRawMaterialsNetOfReserves
70500000
CY2024Q2 us-gaap Inventory Finished Goods Net Of Reserves
InventoryFinishedGoodsNetOfReserves
44500000
CY2023Q2 us-gaap Inventory Finished Goods Net Of Reserves
InventoryFinishedGoodsNetOfReserves
66700000
CY2024Q2 us-gaap Inventory Net
InventoryNet
114000000
CY2023Q2 us-gaap Inventory Net
InventoryNet
137200000
CY2024 syna Foreign Currency Transaction Realized And Unrealized Gain Loss Net Of Tax
ForeignCurrencyTransactionRealizedAndUnrealizedGainLossNetOfTax
-700000
CY2023 syna Foreign Currency Transaction Realized And Unrealized Gain Loss Net Of Tax
ForeignCurrencyTransactionRealizedAndUnrealizedGainLossNetOfTax
-2300000
CY2022 syna Foreign Currency Transaction Realized And Unrealized Gain Loss Net Of Tax
ForeignCurrencyTransactionRealizedAndUnrealizedGainLossNetOfTax
-5600000
CY2024Q2 syna Customer Obligation
CustomerObligation
58200000
CY2023Q2 syna Customer Obligation
CustomerObligation
58500000
CY2024Q2 syna Accrued Liabilities For Inventory Purchase
AccruedLiabilitiesForInventoryPurchase
5600000
CY2023Q2 syna Accrued Liabilities For Inventory Purchase
AccruedLiabilitiesForInventoryPurchase
7000000
CY2024Q2 us-gaap Other Sundry Liabilities Current
OtherSundryLiabilitiesCurrent
38800000
CY2023Q2 us-gaap Other Sundry Liabilities Current
OtherSundryLiabilitiesCurrent
33900000
CY2024Q2 us-gaap Other Accrued Liabilities Current
OtherAccruedLiabilitiesCurrent
102600000
CY2023Q2 us-gaap Other Accrued Liabilities Current
OtherAccruedLiabilitiesCurrent
99400000
CY2024Q2 us-gaap Deferred Income Tax Liabilities Net
DeferredIncomeTaxLiabilitiesNet
27900000
CY2023Q2 us-gaap Deferred Income Tax Liabilities Net
DeferredIncomeTaxLiabilitiesNet
39100000
CY2024Q2 us-gaap Accrued Income Taxes Noncurrent
AccruedIncomeTaxesNoncurrent
27800000
CY2023Q2 us-gaap Accrued Income Taxes Noncurrent
AccruedIncomeTaxesNoncurrent
38100000
CY2024Q2 us-gaap Other Sundry Liabilities Noncurrent
OtherSundryLiabilitiesNoncurrent
20500000
CY2023Q2 us-gaap Other Sundry Liabilities Noncurrent
OtherSundryLiabilitiesNoncurrent
16300000
CY2024Q2 us-gaap Other Liabilities Noncurrent
OtherLiabilitiesNoncurrent
76200000
CY2023Q2 us-gaap Other Liabilities Noncurrent
OtherLiabilitiesNoncurrent
93500000
CY2024 us-gaap Net Income Loss
NetIncomeLoss
125600000
CY2023 us-gaap Net Income Loss
NetIncomeLoss
73600000
CY2022 us-gaap Net Income Loss
NetIncomeLoss
257500000
CY2024 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
39.2
CY2023 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
39.6
CY2022 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
39
CY2024 us-gaap Incremental Common Shares Attributable To Share Based Payment Arrangements
IncrementalCommonSharesAttributableToShareBasedPaymentArrangements
0.5
CY2023 us-gaap Incremental Common Shares Attributable To Share Based Payment Arrangements
IncrementalCommonSharesAttributableToShareBasedPaymentArrangements
0.6
CY2022 us-gaap Incremental Common Shares Attributable To Share Based Payment Arrangements
IncrementalCommonSharesAttributableToShareBasedPaymentArrangements
1.7
CY2024 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
39.7
CY2023 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
40.2
CY2022 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
40.7
CY2024 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
3.2
CY2023 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
1.86
CY2022 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
6.6
CY2024 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
3.16
CY2023 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
1.83
CY2022 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
6.33
CY2024Q2 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
207300000
CY2023Q2 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
198900000
CY2024Q2 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
131800000
CY2023Q2 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
132500000
CY2024Q2 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
75500000
CY2023Q2 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
66400000
CY2024Q2 us-gaap Available For Sale Debt Securities Amortized Cost Basis
AvailableForSaleDebtSecuritiesAmortizedCostBasis
0
CY2024Q2 us-gaap Debt Instrument Fair Value
DebtInstrumentFairValue
0
CY2023Q2 us-gaap Available For Sale Debt Securities Amortized Cost Basis
AvailableForSaleDebtSecuritiesAmortizedCostBasis
9800000
CY2023Q2 us-gaap Debt Instrument Fair Value
DebtInstrumentFairValue
9600000
CY2024Q2 syna Cash Held In Bank
CashHeldInBank
238400000
CY2023Q2 syna Cash Held In Bank
CashHeldInBank
853900000
CY2023Q2 us-gaap Goodwill
Goodwill
816400000
CY2022Q2 us-gaap Goodwill
Goodwill
806600000
CY2024 us-gaap Goodwill Acquired During Period
GoodwillAcquiredDuringPeriod
0
CY2023 us-gaap Goodwill Acquired During Period
GoodwillAcquiredDuringPeriod
9800000
CY2024Q2 us-gaap Goodwill
Goodwill
816400000
CY2023Q2 us-gaap Goodwill
Goodwill
816400000
CY2024 us-gaap Acquired Finite Lived Intangible Assets Weighted Average Useful Life
AcquiredFiniteLivedIntangibleAssetsWeightedAverageUsefulLife
P4Y10M24D
CY2024Q2 us-gaap Finite Lived Intangible Assets Gross
FiniteLivedIntangibleAssetsGross
794700000
CY2024Q2 us-gaap Finite Lived Intangible Assets Accumulated Amortization
FiniteLivedIntangibleAssetsAccumulatedAmortization
506300000
CY2024Q2 us-gaap Finite Lived Intangible Assets Net
FiniteLivedIntangibleAssetsNet
288400000
CY2023Q2 us-gaap Finite Lived Intangible Assets Gross
FiniteLivedIntangibleAssetsGross
723300000
CY2023Q2 us-gaap Finite Lived Intangible Assets Accumulated Amortization
FiniteLivedIntangibleAssetsAccumulatedAmortization
424800000
CY2023Q2 us-gaap Finite Lived Intangible Assets Net
FiniteLivedIntangibleAssetsNet
298500000
CY2024Q2 us-gaap Finite Lived Intangible Assets Amortization Expense Next Twelve Months
FiniteLivedIntangibleAssetsAmortizationExpenseNextTwelveMonths
97900000
CY2024Q2 us-gaap Finite Lived Intangible Assets Amortization Expense Year Two
FiniteLivedIntangibleAssetsAmortizationExpenseYearTwo
84800000
CY2024Q2 us-gaap Finite Lived Intangible Assets Amortization Expense Year Three
FiniteLivedIntangibleAssetsAmortizationExpenseYearThree
50000000
CY2024Q2 us-gaap Finite Lived Intangible Assets Amortization Expense Year Four
FiniteLivedIntangibleAssetsAmortizationExpenseYearFour
33900000
CY2024Q2 us-gaap Finite Lived Intangible Assets Amortization Expense Year Five
FiniteLivedIntangibleAssetsAmortizationExpenseYearFive
15500000
CY2024Q2 us-gaap Finite Lived Intangible Assets Amortization Expense After Year Five
FiniteLivedIntangibleAssetsAmortizationExpenseAfterYearFive
6300000
CY2024Q2 us-gaap Finite Lived Intangible Assets Net
FiniteLivedIntangibleAssetsNet
288400000
CY2024 us-gaap Asset Impairment Charges
AssetImpairmentCharges
16000000
CY2024 us-gaap Interest Expense Long Term Debt
InterestExpenseLongTermDebt
16700000
CY2023 us-gaap Interest Expense Long Term Debt
InterestExpenseLongTermDebt
16600000
CY2024 syna Percentage Of Voting Capital Stock Of Certain Foreign Subsidiaries Collateralized
PercentageOfVotingCapitalStockOfCertainForeignSubsidiariesCollateralized
0.65
CY2024 syna Percentage Of Non Voting Capital Stock
PercentageOfNonVotingCapitalStock
1
CY2021Q4 us-gaap Debt Instrument Face Amount
DebtInstrumentFaceAmount
600000000
CY2021Q4 us-gaap Debt Instrument Maturity Date
DebtInstrumentMaturityDate
2028-12-02
CY2021Q4 us-gaap Debt Instrument Interest Rate Stated Percentage
DebtInstrumentInterestRateStatedPercentage
0.01
CY2024 us-gaap Debt Instrument Basis Spread On Variable Rate1
DebtInstrumentBasisSpreadOnVariableRate1
0.25
CY2021Q4 us-gaap Deferred Finance Costs Net
DeferredFinanceCostsNet
11200000
CY2024Q2 us-gaap Long Term Debt Maturities Repayments Of Principal In Year Two
LongTermDebtMaturitiesRepaymentsOfPrincipalInYearTwo
6000000
CY2024Q2 us-gaap Long Term Debt Maturities Repayments Of Principal In Year Three
LongTermDebtMaturitiesRepaymentsOfPrincipalInYearThree
6000000
CY2024Q2 us-gaap Long Term Debt Maturities Repayments Of Principal In Year Four
LongTermDebtMaturitiesRepaymentsOfPrincipalInYearFour
6000000
CY2024Q2 us-gaap Long Term Debt Maturities Repayments Of Principal In Year Five
LongTermDebtMaturitiesRepaymentsOfPrincipalInYearFive
959500000
CY2024Q2 us-gaap Long Term Debt
LongTermDebt
983500000
CY2024Q2 us-gaap Long Term Debt
LongTermDebt
983500000
CY2024Q2 us-gaap Deferred Finance Costs Gross
DeferredFinanceCostsGross
10600000
CY2024Q2 us-gaap Deferred Finance Costs Net
DeferredFinanceCostsNet
972900000
CY2023Q2 us-gaap Long Term Debt
LongTermDebt
991000000
CY2023Q2 us-gaap Deferred Finance Costs Gross
DeferredFinanceCostsGross
13000000
CY2023Q2 us-gaap Deferred Finance Costs Net
DeferredFinanceCostsNet
978000000
CY2024 us-gaap Lessee Operating Lease Option To Extend
LesseeOperatingLeaseOptionToExtend
The leases expire at various dates through fiscal 2034, some of which include options to extend the lease for up to seven years.
CY2024 syna Lease Expiration Year
LeaseExpirationYear
2034
CY2024 us-gaap Operating Lease Expense
OperatingLeaseExpense
11800000
CY2023 us-gaap Operating Lease Expense
OperatingLeaseExpense
12000000
CY2024Q2 us-gaap Operating Lease Right Of Use Asset
OperatingLeaseRightOfUseAsset
46800000
CY2023Q2 us-gaap Operating Lease Right Of Use Asset
OperatingLeaseRightOfUseAsset
49000000
CY2024Q2 us-gaap Operating Lease Liability Current
OperatingLeaseLiabilityCurrent
11500000
CY2023Q2 us-gaap Operating Lease Liability Current
OperatingLeaseLiabilityCurrent
9000000
CY2024Q2 us-gaap Operating Lease Liability Noncurrent
OperatingLeaseLiabilityNoncurrent
37900000
CY2023Q2 us-gaap Operating Lease Liability Noncurrent
OperatingLeaseLiabilityNoncurrent
42400000
CY2024Q2 us-gaap Operating Lease Liability
OperatingLeaseLiability
49400000
CY2023Q2 us-gaap Operating Lease Liability
OperatingLeaseLiability
51400000
CY2024 us-gaap Operating Lease Cost
OperatingLeaseCost
11200000
CY2023 us-gaap Operating Lease Cost
OperatingLeaseCost
10600000
CY2024 us-gaap Right Of Use Asset Obtained In Exchange For Operating Lease Liability
RightOfUseAssetObtainedInExchangeForOperatingLeaseLiability
7400000
CY2023 us-gaap Right Of Use Asset Obtained In Exchange For Operating Lease Liability
RightOfUseAssetObtainedInExchangeForOperatingLeaseLiability
7300000
CY2024Q2 us-gaap Operating Lease Weighted Average Remaining Lease Term1
OperatingLeaseWeightedAverageRemainingLeaseTerm1
P6Y5M26D
CY2024Q2 us-gaap Operating Lease Weighted Average Discount Rate Percent
OperatingLeaseWeightedAverageDiscountRatePercent
0.0534
CY2024Q2 us-gaap Lessee Operating Lease Liability Payments Due Year Two
LesseeOperatingLeaseLiabilityPaymentsDueYearTwo
10500000
CY2024Q2 us-gaap Lessee Operating Lease Liability Payments Due Year Three
LesseeOperatingLeaseLiabilityPaymentsDueYearThree
7900000
CY2024Q2 us-gaap Lessee Operating Lease Liability Payments Due Year Four
LesseeOperatingLeaseLiabilityPaymentsDueYearFour
6200000
CY2024Q2 us-gaap Lessee Operating Lease Liability Payments Due Year Five
LesseeOperatingLeaseLiabilityPaymentsDueYearFive
5300000
CY2024Q2 us-gaap Lessee Operating Lease Liability Payments Due After Year Five
LesseeOperatingLeaseLiabilityPaymentsDueAfterYearFive
15000000
CY2024Q2 us-gaap Lessee Operating Lease Liability Payments Due
LesseeOperatingLeaseLiabilityPaymentsDue
58200000
CY2024Q2 us-gaap Lessee Operating Lease Liability Undiscounted Excess Amount
LesseeOperatingLeaseLiabilityUndiscountedExcessAmount
8800000
CY2024Q2 us-gaap Operating Lease Liability
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