XML 71 R50.htm IDEA: XBRL DOCUMENT v3.25.4
Leases (Tables)
12 Months Ended
Dec. 31, 2025
Leases [Abstract]  
Schedule of Lease Costs

The following table presents our lease costs for the years ended December 31, 2025, 2024 and 2023:

 

 

 

2025

 

 

2024

 

 

2023

 

Operating lease cost

 

$

12.2

 

 

$

10.0

 

 

$

8.5

 

Finance lease cost:

 

 

 

 

 

 

 

 

 

Amortization of leased assets

 

$

6.3

 

 

$

4.2

 

 

$

3.1

 

Interest on lease liabilities

 

 

2.0

 

 

 

1.4

 

 

 

0.9

 

Total finance lease cost

 

$

8.3

 

 

$

5.6

 

 

$

4.0

 

Summary of Supplemental Cash Flow Information Related To Leases

The following table presents supplemental cash flow information related to our leases for the years ended December 31, 2025, 2024 and 2023:

 

 

 

2025

 

 

2024

 

 

2023

 

Cash paid for amounts included in the measurement of lease liabilities

 

 

 

 

 

 

 

 

 

Operating cash flows from operating leases

 

$

12.1

 

 

$

9.6

 

 

$

8.0

 

Operating cash flows from finance leases

 

 

1.8

 

 

 

1.3

 

 

 

0.8

 

Financing cash flows from finance leases

 

 

5.8

 

 

 

3.3

 

 

 

2.7

 

ROU assets obtained in exchange for lease liabilities

 

 

 

 

 

 

 

 

 

Operating leases (1)

 

$

18.5

 

 

$

19.0

 

 

$

15.8

 

Finance leases (2)

 

 

7.7

 

 

 

13.6

 

 

 

12.3

 

(1)
During 2025, increases in ROU assets included $4.9 million recognized from the acquisitions of Parallel and Geometrik and a $1.2 million increase from modifications that did not involve obtaining a new ROU asset. During 2024, increases in ROU assets included $13.0 million from the acquisitions of 3form and Zahner and a $4.7 million increase from modifications that did not involve obtaining a new ROU asset. During 2023, increases in ROU assets included a decrease of $1.0 million due to a change in lease classification upon modification and an increase of $0.6 million resulting from modifications that did not involve obtaining a new ROU asset.
During 2025, there were no modifications or acquired finance leases that involved obtaining a new ROU asset. During 2024, increases in ROU assets included $8.9 million from the acquisition of Zahner and a $1.1 million decrease from modifications that did not involve obtaining a new ROU asset. During 2023, increases in ROU assets included $8.6 million due to a change in lease classification upon modification for an existing manufacturing facility within our Architectural Specialties segment that had a modified expected lease term of 13 years, in addition to an increase of $3.7 million for a lease modification that did not involve obtaining a new ROU asset.
Schedule of Weighted Average Assumptions Used To Compute Right To Use Assets

The following table presents the weighted average assumptions used to compute our ROU assets and lease liabilities:

 

 

 

December 31, 2025

 

 

December 31, 2024

 

Weighted average remaining lease term (in years)

 

 

 

 

 

 

Operating leases

 

 

5.8

 

 

 

5.7

 

Finance leases

 

 

10.3

 

 

 

11.4

 

Weighted average discount rate

 

 

 

 

 

 

Operating leases

 

 

5.4

%

 

 

5.6

%

Finance leases

 

 

5.2

%

 

 

5.1

%

Schedule of Undiscounted Future Minimum Payments

Undiscounted future minimum lease payments as of December 31, 2025, by year and in the aggregate, having non-cancelable lease terms in excess of one year are as follows:

 

 

 

Operating Leases

 

 

Finance Leases

 

Maturity of lease liabilities

 

 

 

 

 

 

2026

 

$

13.1

 

 

$

8.2

 

2027

 

 

11.9

 

 

 

7.3

 

2028

 

 

10.1

 

 

 

3.9

 

2029

 

 

5.1

 

 

 

3.1

 

2030

 

 

4.2

 

 

 

3.2

 

Thereafter

 

 

15.3

 

 

 

26.5

 

Total lease payments

 

 

59.7

 

 

 

52.2

 

Less interest

 

 

(11.3

)

 

 

(13.4

)

Present value of lease liabilities

 

$

48.4

 

 

$

38.8