CHURCH & DWIGHT CO INC /DE/ Leases Disclosure
The Company leases certain manufacturing facilities, warehouses, office space, railcars and equipment. Leases with an initial term of twelve months or less are not recorded on the consolidated balance sheet. All recorded leases are classified as operating leases and lease expense is recognized on a straight-line basis over the lease term. For leases beginning in 2019, lease components (base rental costs) are accounted for separately from the nonlease components (e.g., common-area maintenance costs). For leases that do not provide an implicit rate, the Company uses its estimated secured incremental borrowing rate based on the information available at commencement date in determining the present value of lease payments.
A summary of the Company’s lease information is as follows:
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December 31, |
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December 31, |
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Classification |
2025 |
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2024 |
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Assets |
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Right of use assets |
$ |
166.0 |
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$ |
182.3 |
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Liabilities |
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Current lease liabilities |
$ |
23.9 |
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$ |
32.4 |
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Long-term lease liabilities |
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153.0 |
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168.5 |
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Total lease liabilities |
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$ |
176.9 |
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$ |
200.9 |
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Other information |
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Weighted-average remaining lease term (years) |
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7.4 |
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7.4 |
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Weighted-average discount rate |
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5.2 |
% |
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4.6 |
% |
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Twelve Months |
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Twelve Months |
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Twelve Months |
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Ended |
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Ended |
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Ended |
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December 31, 2025 |
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December 31, 2024 |
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December 31, 2023 |
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Statement of Income |
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Lease cost(1) |
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$ |
42.2 |
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$ |
40.2 |
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$ |
31.7 |
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Twelve Months |
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Twelve Months |
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Ended |
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Ended |
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December 31, 2025 |
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December 31, 2024 |
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Other information |
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Leased assets obtained in exchange for new lease liabilities(2) |
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$ |
15.4 |
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$ |
28.0 |
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Cash paid for amounts included in the measurement of lease liabilities |
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$ |
42.5 |
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$ |
35.3 |
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The Company’s minimum annual rentals including reasonably assured renewal options under lease agreements are as follows:
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Operating |
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Leases |
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2026 |
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$ |
32.4 |
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2027 |
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30.7 |
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2028 |
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26.6 |
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2029 |
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26.0 |
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2030 |
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25.9 |
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2031 and thereafter |
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73.6 |
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Total future minimum lease commitments |
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215.2 |
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Less: Imputed interest |
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(38.3 |
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Present value of lease liabilities |
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$ |
176.9 |
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Historical Timeline
| Fiscal Year | Filed | |
|---|---|---|
| 2025 | Feb 12, 2026 | Showing above |
| 2024 | Feb 13, 2025 | |
| 2023 | Feb 15, 2024 | |
| 2022 | Feb 16, 2023 | |
| 2021 | Feb 17, 2022 | |
| 2020 | Feb 18, 2021 | |
| 2019 | Feb 18, 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.