Artisan Partners Asset Management Inc. Leases Disclosure
| For the Years Ended December 31, | ||||||||||||||||||||||||||
| Lease Type | Classification | 2025 | 2024 | 2023 | ||||||||||||||||||||||
| Parking leases | Compensation and benefits | $ | 393 | $ | 393 | $ | 393 | |||||||||||||||||||
Office leases (1) | Occupancy | 18,343 | 18,804 | 18,046 | ||||||||||||||||||||||
Variable lease cost (2) | Occupancy | 597 | 865 | 935 | ||||||||||||||||||||||
Short-term lease cost (2) | Occupancy | 726 | 705 | 469 | ||||||||||||||||||||||
| Office equipment leases | Communication and technology | 68 | 67 | 67 | ||||||||||||||||||||||
| Total operating lease expense | $ | 20,127 | $ | 20,834 | $ | 19,910 | ||||||||||||||||||||
(1) Office lease expense includes an impairment charge of $1.0 million for the year ended December 31, 2024, related to the abandonment of leased office space. The loss is recorded in occupancy expense based on the present value of expected future cash flows. | ||||||||||||||||||||||||||
(2) Variable and short-term lease costs are excluded from the measurement of operating lease liabilities. | ||||||||||||||||||||||||||
| As of December 31, 2025 | |||||
| 2026 | $ | 20,694 | |||
| 2027 | 18,255 | ||||
| 2028 | 17,219 | ||||
| 2029 | 12,326 | ||||
| 2030 | 11,671 | ||||
| Thereafter | 70,810 | ||||
| Total undiscounted lease payments | 150,975 | ||||
| Adjustment to discount to present value | (30,094) | ||||
| Operating lease liabilities | $ | 120,881 | |||
| For the Years Ended December 31, | |||||||||||||||||
| 2025 | 2024 | 2023 | |||||||||||||||
| Weighted average discount rate | 4.4 | % | 4.1 | % | 4.1 | % | |||||||||||
| Weighted average remaining lease term | 9.7 years | 7.6 years | 8.4 years | ||||||||||||||
| Operating cash flows for operating leases | 21,266 | 19,846 | 19,668 | ||||||||||||||
Historical Timeline
| Fiscal Year | Filed | |
|---|---|---|
| 2025 | Feb 20, 2026 | Showing above |
| 2024 | Feb 25, 2025 | |
| 2023 | Feb 22, 2024 | |
| 2022 | Feb 27, 2023 | |
| 2021 | Feb 22, 2022 | |
| 2020 | Feb 23, 2021 | |
| 2019 | Feb 18, 2020 | |
| 2017 | Feb 21, 2018 | |
| 2016 | Feb 21, 2017 | |
| 2015 | Feb 25, 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.