Edwards Lifesciences CorpEW

Edwards Lifesciences Corp Leases Disclosure

10-KFiled Feb 25, 20261 min read
7. LEASES

The Company leases certain office space, manufacturing facilities, land, apartments, warehouses, vehicles, and equipment with remaining lease terms ranging from less than 1 year to 21 years, some of which include options to extend or terminate the leases.

Operating lease costs for the years ended December 31, 2025, 2024, and 2023 were $29.3 million, $28.1 million, and $26.9 million, respectively. Short-term and variable lease costs were not material for the years ended December 31, 2025, 2024, and 2023.
Supplemental balance sheet information related to operating leases was as follows (in millions, except lease term and discount rate):
As of December 31,
20252024
Operating lease right-of-use assets$102.7 $98.2 
Operating lease liabilities, current portion$24.5 $23.4 
Operating lease liabilities, long-term portion82.6 78.9 
Total operating lease liabilities
$107.1 $102.3 

Maturities of operating lease liabilities at December 31, 2025 were as follows (in millions):
2026$28.3 
202723.3 
202818.2 
202911.3 
20308.8 
Thereafter41.0 
Total lease payments
130.9 
Less: imputed interest
(23.8)
Total lease liabilities
$107.1 

The following table provides information on the lease terms and discount rates:
Years Ended December 31,
20252024
Weighted-average remaining lease term (in years)8.15.9
Weighted-average discount rate4.1 %3.4 %
As of December 31, 2025, the Company had additional operating lease commitments of $3.2 million for office spaces that have not yet commenced.

Historical Timeline

Fiscal YearFiled
2025Feb 25, 2026Showing above
2024Feb 28, 2025
2023Feb 12, 2024
2022Feb 13, 2023
2021Feb 14, 2022
2020Feb 12, 2021
2019Feb 14, 2020
2018Feb 15, 2019
2016Feb 17, 2017
2015Feb 19, 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.

Other Available Disclosures

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