LRCX · 10-K · 2026A · Full report

Interest Rate Environment

LAM RESEARCH CORP · 2026-08-07 · Importance 23 · Surprise 22

Interest income declined 15.2% to $196.2 million in fiscal 2026 from $231.3 million in fiscal 2025. Management attributed the decline primarily to lower interest rates and slightly lower average invested cash balances. Interest expense declined 12.0% to $156.9 million, primarily because the Company’s $750.0 million Senior Notes matured in March 2026.

Key facts

• Interest income for fiscal year 2026: $196,189 (in thousands); for fiscal year 2025: $231,331 (in thousands); decrease of $35,142 (15.2%) source
• Interest expense for fiscal year 2026: $(156,884) (in thousands); for fiscal year 2025: $(178,203) (in thousands); decrease of $21,319 (12.0%) source
• Interest income decreased in fiscal year 2026 primarily due to lower interest rates and slightly lower average invested cash balances versus the prior year source