A summary of the Company's lease information is as follows:
September 30,
2025
September 30,
2024
AssetsClassification
Right of use assetsOther assets$73.2 $85.4 
Liabilities
Current lease liabilitiesOther current liabilities$15.4 $16.7 
Long-term lease liabilitiesOther liabilities57.1 69.8 
Total lease liabilities$72.5 $86.5 
Other information
Weighted-average remaining lease term (years)8.18.1
Weighted-average incremental borrowing rate9.1 %8.8 %
Fiscal Year
202520242023
Statement of Earnings
Lease cost (1)
$23.9 $18.0 $12.5 
Other information
Leased assets obtained in exchange for new lease liabilities$2.2 $32.1 $25.9 
Cash paid for amounts included in the measurement of lease liabilities$22.8 $17.5 $12.2 
(1)Lease expense is included in Cost of products sold or SG&A expense based on the nature of the lease. Short-term lease expense and variable lease expense are excluded from this amount and are not material.
The Company's future lease payments including reasonably assured renewal options under lease agreements are as follows:
Operating Leases
Fiscal 2026$20.4 
202716.8 
202814.1 
20298.4 
20306.3 
2031 and thereafter42.8 
Total future minimum lease commitments108.8 
Less: Imputed Interest(36.3)
Present value of lease liabilities$72.5 

Historical Timeline

Fiscal YearFiled
2025Nov 18, 2025Showing above
2024Nov 14, 2024
2023Nov 28, 2023
2022Nov 16, 2022
2021Nov 19, 2021
2020Nov 20, 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.