Leases

The Company primarily leases office space, data centers, vehicles and equipment. Some of the Company's leases contain

variable lease payments, typically payments based on an index. The Company’s leases have remaining lease terms of one year

to thirty years, some of which include options to extend from one to five years or more. The exercise of lease renewal options is

typically at the Company's sole discretion; therefore, the majority of renewals to extend the lease terms are not reasonably

certain to exercise and are not included in Right of Use (ROU) assets and lease liabilities. Variable lease payments based on an

index or rate are initially measured using the index or rate in effect at lease commencement. Additional payments based on the

change in an index or rate are recorded as a period expense when incurred. Lease modifications result in remeasurement of the

lease liability as of the modification date.

Other assets include ROU assets, other current liabilities include short-term operating lease liabilities and other non-current

liabilities include long-term lease liabilities at December 31, 2025 and 2024 as follows (in thousands):


	2025	2024
ROU assets	$99,641	$77,998
Short term lease liabilities	$29,237	$24,340
Long term lease liabilities	$85,288	$64,718

The Company does not recognize ROU assets and lease liabilities for short-term leases that have a term of twelve months or

less. The effect of short-term leases were not material to the ROU assets and lease liabilities.

Under ASC 842, the Company discounts future lease obligations by the rate implicit in the contract, unless the rate cannot be

readily determined. As most of our leases do not provide an implicit rate, the Company uses its incremental borrowing rate

based on the information available at the lease commencement date in determining the present value of the lease payments. In

determining the borrowing rate, the Company considers the applicable lease terms, the Company's cost of borrowing and for

leases denominated in a foreign currency, the collateralized borrowing rate that the Company would obtain to borrow in the

same currency in which the lease is denominated.

Total lease costs for the years ended December 31, 2025, 2024 and 2023 were $28.0 million, $26.9 million and $29.7 million,

respectively. Variable lease costs and short-term lease costs were immaterial for all periods presented.

The supplementary cash and non-cash disclosures for the years ended December 31, 2025, 2024 and 2023 are as follows (in

thousands):


	2025	2024	2023
Cash paid for operating lease liabilities	$30,404	$29,913	$31,388
ROU assets obtained in exchange for new operating lease obligations	$30,430	$10,505	$22,764
Weighted-average remaining lease term (years)	5.79	5.33	5.62
Weighted-average discount rate	5.03%	5.17%	5.19%

Maturities of lease liabilities as of December 31, 2025 were as follows (in thousands):


2026		$30,076
2027		26,965
2028		18,002
2029		14,459
2030		11,659
Thereafter		28,702
Total lease payments		129,863
Less imputed interest		15,338
Present value of lease liabilities		$114,525

Historical Timeline

Fiscal Year	Filed
2025	Feb 27, 2026	Showing above
2024	Feb 27, 2025

2023	Feb 29, 2024

2022	Feb 28, 2023

2021	Mar 1, 2022

2020	Feb 26, 2021

2019	Mar 2, 2020

2018	Mar 1, 2019

2017	Mar 1, 2018

2016	Mar 1, 2017

2015	Feb 29, 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.

CORPAY, INC. Leases Disclosure

Historical Timeline

About Leases Disclosures

Other Available Disclosures