Addus HomeCare Corp Leases Disclosure
2. Leases
Amounts reported on the Company’s Consolidated Balance Sheets for operating leases were as follows:
| December 31, | ||||||||
| 2025 | 2024 | |||||||
| (Amounts in Thousands) | ||||||||
| Operating lease assets, net | $ | 43,713 | $ | 47,348 | ||||
| Short-term operating lease liabilities | 13,144 | 12,800 | ||||||
| Long-term operating lease liabilities | 37,259 | 41,883 | ||||||
| Total operating lease liabilities | $ | 50,403 | $ | 54,683 | ||||
Lease Costs
Components of lease costs were reported in general and administrative expenses in the Company’s Consolidated Statements of Income as follows:
| For the Years Ended December 31, | ||||||||||||
| (Amounts in Thousands) | ||||||||||||
| 2025 | 2024 | 2023 | ||||||||||
| Operating lease costs | $ | 14,658 | $ | 13,386 | $ | 13,026 | ||||||
| Short-term lease costs | 1,118 | 735 | 1,147 | |||||||||
| Total lease costs | 15,776 | 14,121 | 14,173 | |||||||||
| Less: sublease income | (226 | ) | (2,267 | ) | (2,770 | ) | ||||||
| Total lease costs, net | $ | 15,550 | $ | 11,854 | $ | 11,403 | ||||||
Lease Term and Discount Rate
Weighted average remaining lease terms and discount rates were as follows:
| December 31, | ||||||||||||
| 2025 | 2024 | 2023 | ||||||||||
| Operating leases: | ||||||||||||
| Weighted average remaining lease term | 5.05 | 5.48 | 6.26 | |||||||||
| Weighted average discount rate | 6.37 | % | 6.20 | % | 5.47 | % | ||||||
Maturity of Lease Liabilities
Remaining operating lease payments as of December 31, 2025 were as follows:
| Operating Leases | ||||
| (Amounts in Thousands) | ||||
| Due in 12-month period ended December 31, | ||||
| 2026 | $ | 15,784 | ||
| 2027 | 12,565 | |||
| 2028 | 8,920 | |||
| 2029 | 6,822 | |||
| 2030 | 5,642 | |||
| Thereafter | 9,779 | |||
| Total future minimum rental commitments | 59,512 | |||
| Less: Imputed interest | (9,109 | ) | ||
| Total lease liabilities | $ | 50,403 | ||
Supplemental Cash Flow Information
| For the Years Ended December 31, | ||||||||||||
| (Amounts in Thousands) | ||||||||||||
| 2025 | 2024 | 2023 | ||||||||||
| Cash paid for amounts included in the measurement of lease liabilities: | ||||||||||||
| Operating cash flows from operating leases | $ | 16,775 | $ | 14,783 | $ | 14,396 | ||||||
| Right-of-use assets obtained in exchange for lease obligations: | ||||||||||||
| Operating leases | $ | 9,305 | $ | 15,489 | $ | 17,221 | ||||||
Historical Timeline
| Fiscal Year | Filed | |
|---|---|---|
| 2025 | Feb 24, 2026 | Showing above |
| 2024 | Feb 25, 2025 | |
| 2023 | Feb 27, 2024 | |
| 2022 | Feb 28, 2023 | |
| 2021 | Feb 25, 2022 | |
| 2020 | Mar 1, 2021 | |
| 2019 | Aug 10, 2020 | |
| 2018 | Mar 18, 2019 | |
| 2017 | Mar 14, 2018 | |
| 2016 | Mar 15, 2017 | |
| 2015 | Mar 11, 2016 | |
About Leases Disclosures
Lease disclosures under ASC 842 provide a comprehensive view of a company's leased asset portfolio, including the split between operating and finance leases, discount rates used to present-value future payments, and the maturity schedule of lease obligations. This section reveals a significant source of off-balance-sheet commitments that were largely hidden before the current standard.
Key signals: the weighted-average discount rate affects the size of recorded lease liabilities — a higher rate reduces the reported obligation, so compare the chosen rate against the company's incremental borrowing rate. The operating versus finance lease mix affects both EBITDA and operating income presentation. Watch the maturity table for concentration risk: large payment cliffs in specific years may create cash flow pressure. Variable lease payments excluded from the liability measurement represent real obligations that do not appear on the balance sheet. Compare total lease costs against prior-year operating lease expense to assess the true economic burden.