AstroNova, Inc. Leases Disclosure
Note 11—Leases
We enter into lease contracts for certain of our facilities at various locations worldwide. Our leases have remaining lease terms of one to ten years, some of which include options to extend the lease term for periods of up to five years when it is reasonably certain that we will exercise such options.
Balance sheet and other information related to our leases is as follows:
Operating Leases |
|
Balance Sheet Classification |
|
January 31, |
|
|
January 31, |
|
||
Lease Assets |
|
Right of Use Assets |
|
$ |
2,466 |
|
|
$ |
1,781 |
|
Lease Liabilities—Current |
|
Other Accrued Expenses |
|
$ |
584 |
|
|
$ |
320 |
|
Lease Liabilities—Long Term |
|
Lease Liabilities |
|
$ |
1,953 |
|
|
$ |
1,535 |
|
Lease cost information is as follows:
Operating Leases |
|
Statement of Income Classification |
|
2026 |
|
|
2025 |
|
||
Operating Lease Costs |
|
General and Administrative Expense |
|
$ |
702 |
|
|
$ |
410 |
|
At January 31, 2026, maturities of operating lease liabilities are as follows:
(In thousands) |
|
|
|
|
2027 |
|
$ |
721 |
|
2028 |
|
|
635 |
|
2029 |
|
|
449 |
|
2030 |
|
|
365 |
|
2031 |
|
|
255 |
|
Thereafter |
|
|
577 |
|
Total Lease Payments |
|
|
3,002 |
|
Less: Imputed Interest |
|
|
(465 |
) |
Total Lease Liabilities |
|
$ |
2,537 |
|
As of January 31, 2026, the weighted-average remaining lease term and weighted-average discount rate for our operating leases are 6.0 years and 6.19%, respectively. We calculated the weighted-average discount rate using incremental borrowing rates, which equal the rates of interest that we would pay to borrow funds on a fully collateralized basis over a similar term.
Supplemental cash flow information related to leases is as follows:
(In thousands) |
|
2026 |
|
|
2025 |
|
||
Cash paid for operating lease liabilities |
|
$ |
675 |
|
|
$ |
418 |
|
Historical Timeline
| Fiscal Year | Filed | |
|---|---|---|
| 2026 | Apr 15, 2026 | Showing above |
| 2025 | Apr 15, 2025 | |
| 2024 | Apr 12, 2024 | |
| 2023 | Apr 17, 2023 | |
| 2022 | Apr 18, 2022 | |
| 2021 | Apr 13, 2021 | |
| 2020 | Apr 10, 2020 | |
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.